First Community Bank Mortgage Rates, Fees & Info

Lexington, SC

LEI: 5493001HBUA9JSUEWO16

Tax ID: 57-1030051

5 stars - Updated: 11/21/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First Community Bank is a smaller bank specializing in Home Purchase loans. First Community Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Columbia, Greenville, Augusta, Spartanburg, and Charlotte among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Community Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Community Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.66% 11/21/24
    30 Year Conventional Refi 6.70% 11/21/24
    30 Year Cash-out Refi 6.86% 11/21/24
    30 Year FHA Purchase 7.30% 11/21/24
    30 Year FHA Refi 7.32% 11/21/24
    30 Year VA Purchase 6.68% 11/21/24
    30 Year USDA Purchase 6.99% 11/21/24
    15 Year Conventional Purchase 6.49% 11/21/24
    15 Year Conventional Refi 6.25% 11/21/24
    15 Year Cash-out Refi 6.25% 11/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    First Community Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First Community Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    454

    Origination Dollar Volume (All Markets)

    $171,390,000

    Awards

    First Community Bank 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    First Community Bank's average 30 year fixed mortgage rate was 6.57%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.09%.

    Relative Fees (Closing Costs)

    First Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,922.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    COLUMBIA, SC (FHA|USDA|VA) 183 $59,745,000 $326,475 $6,690 6.59%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 104 $48,520,000 $466,538 $8,417 6.47%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 59 $14,695,000 $249,068 $6,774 6.70%
    SPARTANBURG, SC (FHA|USDA|VA) 17 $13,525,000 $795,588 $8,132 6.51%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 25 $8,205,000 $328,200 $6,982 6.34%
    Newberry, SC (FHA|USDA|VA) 23 $6,625,000 $288,043 $7,076 6.56%
    SAVANNAH, GA (FHA|USDA|VA) 1 $6,575,000 $6,575,000 $0 7.15%
    Seneca, SC (FHA|USDA|VA) 9 $2,755,000 $306,111 $6,756 6.64%
    Greenwood, SC (FHA|USDA|VA) 5 $1,665,000 $333,000 $8,517 6.58%
    Forest City, NC (FHA|USDA|VA) 2 $1,020,000 $510,000 $10,613 7.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $950,000 $475,000 $6,896 6.44%
    Gaffney, SC (FHA|USDA|VA) 4 $940,000 $235,000 $7,583 6.94%
    Outside of Metro Areas 3 $835,000 $278,333 $7,586 6.67%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $810,000 $405,000 $6,091 7.69%
    Sevierville, TN (FHA|USDA|VA) 1 $635,000 $635,000 $9,170 7.50%
    FLORENCE, SC (FHA|USDA|VA) 1 $605,000 $605,000 $0 6.55%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $600,000 $300,000 $7,237 5.19%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $595,000 $595,000 $10,915 6.88%
    Orangeburg, SC (FHA|USDA|VA) 2 $580,000 $290,000 $8,821 6.13%
    Georgetown, SC (FHA|USDA|VA) 2 $440,000 $220,000 $5,674 6.69%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $285,000 $285,000 $7,855 7.13%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $225,000 $225,000 $10,704 5.75%
    MANHATTAN, KS (FHA|USDA|VA) 1 $225,000 $225,000 $3,282 7.25%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $175,000 $175,000 $8,261 7.63%
    SUMTER, SC (FHA|USDA|VA) 2 $160,000 $80,000 $0 6.50%
    First Community Bank's top markets include Columbia, Greenville, Augusta, Spartanburg, and Charlotte among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against First Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SAFE FEDERAL CREDIT UNION
    Similarity Rank: 80
    SRP Federal Credit Union
    Similarity Rank: 190
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 376
    AUGUSTA MORTGAGE CO.
    Similarity Rank: 464
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 574
    Palmetto Citizens Federal Credit Union
    Similarity Rank: 615
    FINANCIAL RESOURCES FEDERAL CREDIT UNION
    Similarity Rank: 690
    Associated Credit Union
    Similarity Rank: 714
    Security Federal Bank
    Similarity Rank: 780
    FIRST CHOICE MORTGAGE, INC.
    Similarity Rank: 940

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 397 $157,905,000 $397,746 $6,789 6.55%
    FHA 46 $10,630,000 $231,087 $10,712 6.66%
    VA 9 $2,565,000 $285,000 $8,881 6.47%
    USDA 2 $290,000 $145,000 $6,482 7.06%

    For 2023, First Community Bank's most frequently originated type of loan was Conventional, with 397 originations. Their 2nd most popular type was FHA, with 46 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 386 $152,180,000 $394,249 $7,810 6.52%
    Cash Out Refi 20 $4,910,000 $245,500 $5,115 7.04%
    Refi 19 $11,115,000 $585,000 $6,788 6.62%
    Home Improvement 15 $1,335,000 $89,000 $2,672 6.55%
    Other 14 $1,850,000 $132,143 $3,113 7.06%

    For 2023, First Community Bank's most frequently cited loan purpose was Home Purchase, with 386 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 248 $69,250,000 $279,234 $6,922 6.57%
    30+ year 99 $49,055,000 $495,505 $9,804 6.30%
    5 Year 52 $30,910,000 $594,423 $2,667 6.74%
    Other 46 $15,820,000 $343,913 $2,748 6.97%
    1 Year 3 $795,000 $265,000 $0 6.60%
    15 Year 3 $595,000 $198,333 $5,294 6.00%
    10 Year 2 $4,690,000 $2,345,000 $0 6.55%
    20 Year 1 $275,000 $275,000 $7,711 6.63%

    For 2023, First Community Bank's most frequently cited loan duration was 30 Year, with 248 originations. The 2nd most popular length was 30+ year, with 99 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 104 $57,030,000 $548,365
    $1k-2k 75 $15,745,000 $209,933
    $3k-4k 70 $17,380,000 $248,286
    $4k-5k 55 $18,415,000 $334,818
    $2k-3k 42 $9,360,000 $222,857
    $<1k 37 $5,735,000 $155,000

    First Community Bank's average total fees were $6,922, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 104 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 223 $80,015,000 $358,812
    7-8% 112 $52,830,000 $471,696
    5-6% 105 $35,065,000 $333,952
    4-5% 8 $2,650,000 $331,250
    Over 8% 6 $830,000 $138,333

    During 2023, First Community Bank's average interest rate for loans was 6.57%, while their most frequently originated rate bucket for loans was 6-7%, with 223 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 175 $48,555,000 $277,457 $7,282 6.55%
    $100k-200k 113 $17,285,000 $152,965 $5,196 6.62%
    $400k-600k 73 $36,265,000 $496,781 $9,796 6.42%
    $100,000 or less 41 $2,555,000 $62,317 $2,625 6.78%
    $600k-1MM 38 $26,800,000 $705,263 $10,430 6.39%
    $1MM+ 14 $39,930,000 $2,852,143 $18,209 6.93%

    2023 saw First Community Bank place emphasis on $200k-400k loans with 175 originations, totaling $48,555,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 85 $25,585,000 $301,000 $7,216 6.43%
    $50k-75k 84 $15,930,000 $189,643 $6,137 6.64%
    $150k-250k 73 $31,985,000 $438,151 $8,869 6.45%
    $250k+ 63 $33,995,000 $539,603 $8,920 6.64%
    $75k-100k 52 $12,550,000 $241,346 $7,115 6.60%
    $50k or less 31 $4,035,000 $130,161 $4,889 6.45%

    First Community Bank lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $50k-75k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 79 $24,125,000 $305,380 $6,895 6.50%
    20-30% 65 $17,965,000 $276,385 $6,111 6.51%
    <20% 39 $14,525,000 $372,436 $7,123 6.58%
    40% 21 $6,265,000 $298,333 $7,416 6.64%
    42% 20 $7,160,000 $358,000 $7,983 6.68%
    39% 20 $6,530,000 $326,500 $7,847 6.46%
    41% 20 $8,670,000 $433,500 $8,820 6.55%
    43% 19 $6,445,000 $339,211 $7,787 6.33%
    44% 17 $6,665,000 $392,059 $8,930 6.13%
    37% 16 $5,960,000 $372,500 $8,666 6.52%
    38% 14 $3,630,000 $259,286 $6,201 6.71%
    50-60% 12 $2,920,000 $243,333 $10,973 6.71%
    36% 11 $3,965,000 $360,455 $7,680 6.32%
    45% 7 $2,555,000 $365,000 $7,468 6.52%
    49% 6 $1,830,000 $305,000 $5,121 6.83%
    48% 6 $1,390,000 $231,667 $7,544 6.85%
    47% 6 $1,310,000 $218,333 $5,218 6.65%
    46% 4 $1,150,000 $287,500 $5,367 6.81%
    >60% 1 $605,000 $605,000 $7,854 6.13%

    First Community Bank lent most frequently to those with DTI ratios of 30-36%, with 79 originations. The next most common DTI ratio? 20-30%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 333 $105,885,000 $317,973 $7,188 6.52%
    Not applicable 60 $45,940,000 $765,667 $0 6.75%
    Not provided 31 $10,665,000 $344,032 $7,925 6.72%
    Black 19 $5,325,000 $280,263 $8,645 6.55%
    Asian 6 $2,000,000 $333,333 $7,181 6.42%
    American Indian 4 $1,440,000 $360,000 $6,755 6.66%
    Asian Indian 1 $135,000 $135,000 $0 6.65%

    Approval Rates

    Total approvals of all applications
    92.76%

    First Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.36%

    First Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 454 $171,390,000 $377,511

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    454 $171,390,000 $377,511

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $10,325,000 $333,065 $3,767 6.74%
    40-60% 54 $32,790,000 $607,222 $6,532 6.54%
    60-80% 167 $66,445,000 $397,874 $7,561 6.52%
    80-100% 181 $59,575,000 $329,144 $8,079 6.55%
    Over 100% 3 $735,000 $245,000 $11,091 6.25%
    Under 20% 18 $1,520,000 $84,444 $1,753 6.97%