First Central State Bank Mortgage Rates, Fees & Info
Dewitt, IALEI: 5493005L8AW1CTD9HZ03
Tax ID: 42-0928970
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Mortgage Data
Review & Overview
First Central State Bank is a smaller bank specializing in Home Purchase loans. First Central State Bank has a high proportion of conventional loans. First Central State Bank has a low ratio of conventional loans. Their top markets by origination volume include: Davenport, Clinton, Sterling, Des Moines, and Cedar Rapids among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)First Central State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First Central State 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.25% | 4/5/25 |
| 15 Year Conventional Purchase | 6.22% | 4/5/25 |
| 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 Central State Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
183Origination Dollar Volume (All Markets)
$31,685,000Relative Rate
First Central State Bank's average 30 year fixed mortgage rate was
6.13%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.43%.
Relative Fees (Closing Costs)
First Central State Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,188.
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 $8,356.
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 |
|---|---|---|---|---|---|
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 66 | $14,260,000 | $216,061 | $2,188 | 6.13% |
| Clinton, IA (FHA|USDA|VA) | 86 | $11,140,000 | $129,535 | $2,128 | 5.88% |
| Outside of Metro Areas | 10 | $2,270,000 | $227,000 | $0 | 0.00% |
| Sterling, IL (FHA|USDA|VA) | 8 | $1,090,000 | $136,250 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $0 | 0.00% |
| Palatka, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| DUBUQUE, IA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 181 | $31,475,000 | $173,895 | $0 | 0.00% |
| Conventional | 2 | $210,000 | $105,000 | $2,158 | 6.00% |
For 2024, First Central State Bank's most frequently originated type of loan was Conventional, with 181 originations. Their 2nd most popular type was Conventional, with 2 originations.
Loan Reason
For 2024, First Central State Bank's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Refi, with 44 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 181 | $31,475,000 | $173,895 | $0 | 0.00% |
| 15 Year | 1 | $95,000 | $95,000 | $2,128 | 5.88% |
| 30 Year | 1 | $115,000 | $115,000 | $2,188 | 6.13% |
For 2024, First Central State Bank's most frequently cited loan duration was Other, with 181 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $210,000 | $105,000 |
First Central State Bank's average total fees were $2,188, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 1 | $95,000 | $95,000 |
| 6-7% | 1 | $115,000 | $115,000 |
During 2024, First Central State Bank's average interest rate for loans was 6.13%, while their most frequently originated rate bucket for loans was 5-6%, with 1 originations.
Loan Sizing
2024 saw First Central State Bank place emphasis on $100k-200k loans with 74 originations, totaling $10,600,000 in origination value.
Applicant Income
First Central State Bank lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $75k-100k, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 181 | $31,475,000 | $173,895 | $0 | 0.00% |
| 20-30% | 2 | $210,000 | $105,000 | $2,158 | 6.00% |
First Central State Bank lent most frequently to those with DTI ratios of Exempt%, with 181 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.87%
First Central State Bank has an average approval rate.
Pick Rate
Approvals leading to origination91.26%
First Central State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 181 | $31,475,000 | $173,895 |
| NA | 2 | $210,000 | $105,000 |