First National Bank Mortgage Rates, Fees & Info

Paragould, AR

LEI: 5493003EW6T31TGECO83

Tax ID: 71-0397846

5 stars - Updated: 6/16/24 - out of 5 stars, based on 18 reviews

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

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Mortgage Data

Review & Overview

First National Bank is a smaller bank specializing in Home Purchase loans. First National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Jonesboro, Fayetteville, Paragould, and Little Rock among others. We have data for 22 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
30 Year Conventional Purchase 6.93% 6/16/24
30 Year Conventional Refi 7.16% 6/16/24
30 Year Cash-out Refi 6.27% 6/16/24
15 Year Conventional Purchase 6.45% 6/16/24
15 Year Conventional Refi 6.76% 6/16/24
15 Year Cash-out Refi 6.76% 6/16/24
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

329

Origination Dollar Volume (All Markets)

$75,155,000

Awards

First National Bank 30 Year Conventional Loans gold First National Bank 30 Year Conventional Loans gold First National Bank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

First National Bank's average 30 year fixed mortgage rate was 8.72%.

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

This yields a difference of 2.24%.

Relative Fees (Closing Costs)

First National Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $1,885.

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
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 64 $18,980,000 $296,563 $2,532 8.75%
JONESBORO, AR (FHA|USDA|VA) 83 $13,875,000 $167,169 $1,062 9.01%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 19 $12,465,000 $656,053 $1,190 8.75%
Paragould, AR (FHA|USDA|VA) 74 $10,270,000 $138,784 $1,116 9.03%
Outside of Metro Areas 53 $9,735,000 $183,679 $1,439 9.05%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 12 $3,770,000 $314,167 $1,450 8.68%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,695,000 $1,695,000 $0 8.50%
HOT SPRINGS, AR (FHA|USDA|VA) 3 $915,000 $305,000 $1,453 8.82%
Mountain Home, AR (FHA|USDA|VA) 4 $610,000 $152,500 $1,234 8.93%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $545,000 $545,000 $1,581 8.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $465,000 $465,000 $0 7.75%
PANAMA CITY, FL (FHA|USDA|VA) 1 $355,000 $355,000 $0 9.00%
Batesville, AR (FHA|USDA|VA) 4 $340,000 $85,000 $1,160 8.89%
Oxford, MS (FHA|USDA|VA) 1 $275,000 $275,000 $0 7.95%
KNOXVILLE, TN (FHA|USDA|VA) 1 $235,000 $235,000 $0 8.75%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $215,000 $215,000 $0 8.50%
Poplar Bluff, MO (FHA|USDA|VA) 1 $105,000 $105,000 $692 9.75%
Kennett, MO (FHA|USDA|VA) 1 $85,000 $85,000 $274 8.00%
JACKSON, TN (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.50%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $65,000 $65,000 $1,518 8.95%
West Plains, MO (FHA|USDA|VA) 1 $45,000 $45,000 $987 8.95%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $35,000 $35,000 $741 9.50%
First National Bank's top markets include Nashville, Jonesboro, Fayetteville, Paragould, and Little Rock among others.

Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (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.

    United Bank
    Similarity Rank: 230
    The Bank of Missouri
    Similarity Rank: 288
    First National Bank
    Similarity Rank: 352
    FIRST WESTERN MORTGAGE, INC.
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    Priority Bank
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    First Security Bank
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    Signature Bank of Arkansas
    Similarity Rank: 830
    Generations Bank
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    Southern Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 329 $75,155,000 $228,435 $1,423 8.93%

    For 2023, First National Bank's most frequently originated type of loan was Conventional, with 329 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 206 $54,860,000 $266,311 $1,937 8.79%
    Refi 49 $14,485,000 $295,612 $1,090 9.00%
    Home Improvement 41 $3,015,000 $73,537 $828 9.41%
    Other 33 $2,795,000 $84,697 $951 9.10%

    For 2023, First National Bank's most frequently cited loan purpose was Home Purchase, with 206 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 99 $18,525,000 $187,121 $1,079 8.86%
    30 Year 66 $15,940,000 $241,515 $1,885 8.72%
    1 Year 56 $15,560,000 $277,857 $2,025 8.83%
    Other 45 $11,415,000 $253,667 $799 9.07%
    15 Year 29 $1,605,000 $55,345 $1,011 9.12%
    10 Year 19 $765,000 $40,263 $750 9.55%
    3 Year 6 $9,340,000 $1,556,667 $565 8.95%
    30+ year 5 $1,495,000 $299,000 $1,959 8.99%
    5 Year 4 $510,000 $127,500 $0 9.25%

    For 2023, First National Bank's most frequently cited loan duration was 20 Year, with 99 originations. The 2nd most popular length was 30 Year, with 66 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 149 $21,125,000 $141,779
    $1k-2k 6 $1,760,000 $293,333
    $2k-3k 1 $405,000 $405,000
    $4k-5k 1 $855,000 $855,000
    $5k+ 1 $1,005,000 $1,005,000

    First National Bank's average total fees were $1,885, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 149 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 285 $57,695,000 $202,439
    7-8% 42 $16,980,000 $404,286
    6-7% 2 $480,000 $240,000

    During 2023, First National Bank's average interest rate for loans was 8.72%, while their most frequently originated rate bucket for loans was Over 8%, with 285 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 148 $8,140,000 $55,000 $923 9.22%
    $200k-400k 71 $20,065,000 $282,606 $1,945 8.58%
    $100k-200k 68 $9,750,000 $143,382 $1,519 8.88%
    $400k-600k 18 $8,380,000 $465,556 $2,442 8.68%
    $600k-1MM 15 $11,205,000 $747,000 $3,729 8.61%
    $1MM+ 9 $17,615,000 $1,957,222 $10,454 8.19%

    2023 saw First National Bank place emphasis on $100,000 or less loans with 148 originations, totaling $8,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 51 $7,165,000 $140,490 $1,241 9.24%
    $50k or less 45 $4,495,000 $99,889 $1,172 8.94%
    $250k+ 38 $9,830,000 $258,684 $2,337 8.61%
    $50k-75k 38 $4,920,000 $129,474 $1,518 9.00%
    $150k-250k 35 $9,915,000 $283,286 $2,167 8.83%
    $75k-100k 29 $2,515,000 $86,724 $1,047 9.23%

    First National Bank lent most frequently to those with incomes in the $100k-150k range, with 51 originations. The second most popular income band? $50k or less, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $3,740,000 $116,875 $1,148 9.10%
    >60% 26 $6,750,000 $259,615 $1,964 8.57%
    <20% 21 $4,195,000 $199,762 $1,795 8.92%
    30-36% 19 $2,415,000 $127,105 $1,041 8.87%
    50-60% 16 $3,050,000 $190,625 $1,282 8.81%
    37% 7 $505,000 $72,143 $833 9.24%
    38% 6 $710,000 $118,333 $1,003 8.68%
    41% 6 $380,000 $63,333 $1,202 9.77%
    44% 4 $580,000 $145,000 $1,789 8.98%
    40% 4 $810,000 $202,500 $2,600 9.31%
    42% 4 $510,000 $127,500 $1,397 9.16%
    36% 4 $520,000 $130,000 $1,536 9.01%
    47% 4 $200,000 $50,000 $1,063 8.78%
    43% 3 $865,000 $288,333 $1,865 9.08%
    46% 3 $255,000 $85,000 $1,176 8.65%
    45% 2 $250,000 $125,000 $1,114 8.85%
    48% 1 $185,000 $185,000 $1,656 8.75%

    First National Bank lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? >60%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 85 $35,585,000 $418,647 $1,969 8.76%
    White 188 $29,530,000 $157,074 $1,205 9.01%
    Not provided 41 $7,335,000 $178,902 $1,705 8.93%
    Asian 2 $1,060,000 $530,000 $10,454 8.48%
    Black 6 $870,000 $145,000 $1,770 8.69%
    American Indian 4 $400,000 $100,000 $1,138 9.03%
    Other Pacific Islander 1 $205,000 $205,000 $0 9.25%
    Vietnamese 1 $155,000 $155,000 $0 8.75%
    1 $15,000 $15,000 $536 9.25%

    Approval Rates

    Total approvals of all applications
    96.03%

    First National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    89.67%

    First National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 329 $75,155,000 $228,435

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    329 $75,155,000 $228,435

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $10,810,000 $245,682 $970 8.96%
    40-60% 42 $10,820,000 $257,619 $1,572 9.00%
    60-80% 79 $21,305,000 $269,684 $1,545 8.80%
    80-100% 115 $29,765,000 $258,826 $2,184 8.81%
    Under 20% 49 $2,455,000 $50,102 $804 9.32%