First National Bank Mortgage Rates, Fees & Info
Damariscotta, MELEI: 5493002J7RM1JLAXN553
Tax ID: 01-0067810
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
First National Bank is a smaller bank specializing in Home Purchase and Home Improvement 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, Portland, Augusta, Lewiston, and Portland among others. We have data for 6 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.83% | 11/17/24 |
| 30 Year Conventional Refi | 6.65% | 11/17/24 |
| 30 Year Cash-out Refi | 6.62% | 11/17/24 |
| 30 Year VA Purchase | 6.22% | 11/17/24 |
| 30 Year VA Refi | 6.77% | 11/17/24 |
| 30 Year USDA Purchase | 5.94% | 11/17/24 |
| 15 Year Conventional Purchase | 6.43% | 11/17/24 |
| 15 Year Conventional Refi | 6.42% | 11/17/24 |
| 15 Year Cash-out Refi | 6.42% | 11/17/24 |
| 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 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
785Origination Dollar Volume (All Markets)
$173,615,000Awards
First National Bank - 2023
First National Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
Work for First National Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
First National Bank's average 30 year fixed mortgage rate was
6.62%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.14%.
Relative Fees (Closing Costs)
First National Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,596.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 620 | $136,690,000 | $220,468 | $3,315 | 7.48% |
| BANGOR, ME (FHA|USDA|VA) | 115 | $24,635,000 | $214,217 | $4,206 | 7.88% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 26 | $6,670,000 | $256,538 | $4,608 | 7.29% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 20 | $3,010,000 | $150,500 | $2,479 | 7.87% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 3 | $1,705,000 | $568,333 | $0 | 7.63% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $5,688 | 6.50% |
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.
Similarity Rank: 40
Similarity Rank: 64
Similarity Rank: 76
Similarity Rank: 104
Similarity Rank: 112
Similarity Rank: 115
Similarity Rank: 126
Similarity Rank: 150
Similarity Rank: 200
Similarity Rank: 204
Product Mix
For 2023, First National Bank's most frequently originated type of loan was Conventional, with 554 originations. Their 2nd most popular type was HELOC, with 222 originations.
Loan Reason
For 2023, First National Bank's most frequently cited loan purpose was Home Purchase, with 360 originations. The 2nd most popular reason was Home Improvement, with 171 originations.
Loan Duration/Length
For 2023, First National Bank's most frequently cited loan duration was 20 Year, with 271 originations. The 2nd most popular length was Other, with 153 originations.
Origination Fees/Closing Costs
First National Bank's average total fees were $3,596, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 298 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 267 | $55,035,000 | $206,124 |
| 7-8% | 264 | $46,770,000 | $177,159 |
| 6-7% | 159 | $39,765,000 | $250,094 |
| 5-6% | 92 | $31,490,000 | $342,283 |
| 4-5% | 3 | $555,000 | $185,000 |
During 2023, First National Bank's average interest rate for loans was 6.62%, while their most frequently originated rate bucket for loans was Over 8%, with 267 originations.
Loan Sizing
2023 saw First National Bank place emphasis on $100,000 or less loans with 288 originations, totaling $14,840,000 in origination value.
Applicant Income
First National Bank lent most frequently to those with incomes in the $100k-150k range, with 162 originations. The second most popular income band? $50k-75k, with 128 originations.
Applicant Debt to Income Ratio
First National Bank lent most frequently to those with DTI ratios of 20-30%, with 119 originations. The next most common DTI ratio? 30-36%, with 116 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.06%
First National Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.43%
First National Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 785 | $173,615,000 | $221,166 |