First National Bank Mortgage Rates, Fees & Info

Damariscotta, ME

LEI: 5493002J7RM1JLAXN553

Tax ID: 01-0067810

5 stars - Updated: 12/1/23 - out of 5 stars, based on 34 reviews

Latest/2022 | 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
  • Complaints
  • 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 National Bank is a smaller bank specializing in Home Purchase loans. First National Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Bangor, Augusta, Lewiston, and Portland among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First National 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 National Bank is typically a low 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 about average 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
    Home Equity Line of Credit (HELOC) 6.27% 12/1/23
    30 Year Conventional Purchase 6.83% 12/1/23
    30 Year Conventional Refi 6.65% 12/1/23
    30 Year Cash-out Refi 6.62% 12/1/23
    30 Year VA Purchase 6.22% 12/1/23
    30 Year VA Refi 6.77% 12/1/23
    30 Year USDA Purchase 5.94% 12/1/23
    15 Year Conventional Purchase 6.43% 12/1/23
    15 Year Conventional Refi 6.42% 12/1/23
    15 Year Cash-out Refi 6.42% 12/1/23
    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 National Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First National 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

    1,155

    Origination Dollar Volume (All Markets)

    $277,035,000

    Awards

    First National Bank 30 Year Conventional Loans bronze First National Bank VA Loans silver First National Bank VA Loans bronze
    Show all (3) awards

    Relative Rate

    First National Bank's average 30 year fixed mortgage rate was 4.89%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.13%.

    Relative Fees (Closing Costs)

    First National Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,492.

    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 $4,750.

    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
    Outside of Metro Areas 887 $190,235,000 $214,470 $3,606 4.91%
    BANGOR, ME (FHA|USDA|VA) 177 $41,225,000 $232,910 $3,437 5.46%
    Augusta-Waterville, ME (FHA|USDA|VA) 50 $24,610,000 $492,200 $4,069 5.34%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 9 $11,865,000 $1,318,333 $3,314 4.82%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 32 $9,100,000 $284,375 $4,072 5.02%
    First National Bank's top markets include Bangor, Augusta, Lewiston, and Portland among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Similar Lenders

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

    MAINE HIGHLANDS FEDERAL CREDIT UNION
    Similarity Rank: 138
    Piscataqua Savings Bank
    Similarity Rank: 168
    CASCO
    Similarity Rank: 452
    Kennebec Savings Bank
    Similarity Rank: 535
    CUSO MORTGAGE CORPORATION
    Similarity Rank: 565
    CUMBERLAND COUNTY
    Similarity Rank: 580
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 600
    Maine Community Bank
    Similarity Rank: 636
    Cambridge Trust Company
    Similarity Rank: 675
    ATLANTIC REGIONAL FEDERAL CREDIT UNION
    Similarity Rank: 702

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 835 $239,925,000 $287,335 $3,557 5.13%
    HELOC 300 $33,040,000 $110,133 n/a 4.78%
    USDA 15 $2,705,000 $180,333 $4,953 3.76%
    VA 5 $1,365,000 $273,000 $7,166 4.00%

    For 2022, First National Bank's most frequently originated type of loan was Conventional, with 835 originations. Their 2nd most popular type was HELOC, with 300 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 529 $179,995,000 $340,255 $4,776 5.20%
    Home Improvement 214 $26,160,000 $122,243 $1,406 5.22%
    Refi 184 $38,960,000 $211,739 $2,551 4.80%
    Other 174 $17,150,000 $98,563 $1,361 4.78%
    Cash Out Refi 54 $14,770,000 $273,519 $3,675 3.91%

    For 2022, First National Bank's most frequently cited loan purpose was Home Purchase, with 529 originations. The 2nd most popular reason was Home Improvement, with 214 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 364 $39,990,000 $109,863 $1,185 4.95%
    Other 258 $92,110,000 $357,016 $4,773 5.40%
    30 Year 237 $69,585,000 $293,608 $3,492 4.89%
    30+ year 162 $61,770,000 $381,296 $6,169 4.99%
    15 Year 64 $9,200,000 $143,750 $2,246 4.39%
    10 Year 40 $2,120,000 $53,000 $741 4.86%
    5 Year 16 $530,000 $33,125 $549 4.99%
    1 Year 14 $1,730,000 $123,571 $1,918 5.36%

    For 2022, First National Bank's most frequently cited loan duration was 20 Year, with 364 originations. The 2nd most popular length was Other, with 258 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 415 $82,745,000 $199,386
    $1k-2k 89 $19,415,000 $218,146
    $2k-3k 51 $20,325,000 $398,529
    $3k-4k 16 $8,830,000 $551,875
    $4k-5k 11 $8,385,000 $762,273
    $5k+ 7 $9,235,000 $1,319,286

    First National Bank's average total fees were $3,492, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 415 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 337 $68,945,000 $204,585
    3-4% 300 $81,370,000 $271,233
    4-5% 242 $71,640,000 $296,033
    6-7% 188 $38,760,000 $206,170
    7-8% 49 $8,025,000 $163,776
    2.5-3% 25 $5,865,000 $234,600
    <2.5% 10 $1,900,000 $190,000
    Over 8% 4 $530,000 $132,500

    During 2022, First National Bank's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 5-6%, with 337 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 379 $20,015,000 $52,810 $1,178 5.13%
    $100k-200k 330 $47,630,000 $144,333 $3,267 5.06%
    $200k-400k 305 $84,535,000 $277,164 $4,308 4.94%
    $400k-600k 78 $37,940,000 $486,410 $5,638 4.88%
    $600k-1MM 40 $30,040,000 $751,000 $7,126 4.66%
    $1MM+ 23 $56,875,000 $2,472,826 $10,146 4.68%

    2022 saw First National Bank place emphasis on $100,000 or less loans with 379 originations, totaling $20,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 206 $44,750,000 $217,233 $4,144 4.79%
    $50k-75k 196 $25,970,000 $132,500 $3,146 5.11%
    $150k-250k 157 $42,795,000 $272,580 $4,226 4.75%
    $75k-100k 149 $21,175,000 $142,114 $2,856 5.17%
    $50k or less 138 $12,770,000 $92,536 $2,667 4.84%
    $250k+ 95 $45,885,000 $483,000 $5,315 4.86%

    First National Bank lent most frequently to those with incomes in the $100k-150k range, with 206 originations. The second most popular income band? $50k-75k, with 196 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 197 $32,935,000 $167,183 $3,101 4.68%
    30-36% 184 $35,490,000 $192,880 $3,681 4.85%
    <20% 80 $16,050,000 $200,625 $3,244 4.85%
    44% 55 $12,875,000 $234,091 $4,733 4.73%
    42% 42 $8,240,000 $196,190 $3,604 5.09%
    40% 41 $8,675,000 $211,585 $4,018 5.29%
    43% 41 $8,025,000 $195,732 $3,486 5.02%
    41% 39 $8,515,000 $218,333 $3,536 4.86%
    39% 38 $9,750,000 $256,579 $3,605 5.14%
    36% 36 $7,520,000 $208,889 $4,266 4.98%
    38% 29 $6,815,000 $235,000 $3,300 4.72%
    37% 28 $7,820,000 $279,286 $3,877 4.77%
    45% 17 $4,695,000 $276,176 $4,945 4.96%
    50-60% 15 $3,305,000 $220,333 $3,351 5.06%
    47% 14 $3,560,000 $254,286 $3,963 5.07%
    49% 12 $2,960,000 $246,667 $4,104 5.31%
    48% 8 $2,310,000 $288,750 $4,854 5.38%
    46% 6 $990,000 $165,000 $2,873 4.71%
    >60% 5 $1,675,000 $335,000 $4,175 5.92%

    First National Bank lent most frequently to those with DTI ratios of 20-30%, with 197 originations. The next most common DTI ratio? 30-36%, with 184 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 835 $170,115,000 $203,731 $3,615 4.90%
    Not applicable 197 $79,875,000 $405,457 $0 5.46%
    Not provided 101 $22,325,000 $221,040 $4,107 5.05%
    Asian 10 $3,150,000 $315,000 $3,877 4.99%
    Black 6 $1,290,000 $215,000 $293 5.81%
    American Indian 6 $280,000 $46,667 $925 5.96%

    Approval Rates

    Total approvals of all applications
    90.49%

    First National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.71%

    First National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,155 $277,035,000 $239,857

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,155 $277,035,000 $239,857

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 204 $25,050,000 $122,794 $2,354 5.01%
    40-60% 149 $35,935,000 $241,174 $4,266 4.97%
    60-80% 316 $112,970,000 $357,500 $4,489 5.10%
    80-100% 219 $85,065,000 $388,425 $4,820 4.98%
    Over 100% 8 $2,850,000 $356,250 $3,977 4.47%
    Under 20% 259 $15,165,000 $58,552 $678 5.00%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%