First Heritage Bank Mortgage Rates, Fees & Info

CENTRALIA, KS

LEI: 5493006ZMPVXXUIKYH60

Tax ID: 48-0221210

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Heritage Bank is a smaller bank specializing in Home Purchase and Refi loans. First Heritage Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Kansas City, Manhattan, and Topeka among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Heritage Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Heritage 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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    Originations

    46

    Origination Dollar Volume (All Markets)

    $7,300,000

    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 34 $3,800,000 $111,765 $1,212 5.21%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $2,845,000 $569,000 $1,653 5.06%
    MANHATTAN, KS (FHA|USDA|VA) 4 $520,000 $130,000 $860 5.41%
    TOPEKA, KS (FHA|USDA|VA) 3 $135,000 $45,000 $973 5.24%
    First Heritage Bank's top markets include Kansas City, Manhattan, and Topeka among others.

    Their top states include:
  • Kansas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $7,235,000 $160,778 $1,164 5.22%
    USDA 1 $65,000 $65,000 $2,657 4.88%

    For 2018, First Heritage Bank's most frequently originated type of loan was Conventional, with 45 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 21 $3,265,000 $155,476 $1,443 5.18%
    Refi 12 $3,260,000 $271,667 $1,131 5.08%
    Cash Out Refi 9 $645,000 $71,667 $1,017 5.41%
    Home Improvement 4 $130,000 $32,500 $733 5.30%

    For 2018, First Heritage Bank's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 26 $2,390,000 $91,923 $843 5.27%
    30 Year 7 $1,085,000 $155,000 $2,046 5.07%
    Other 5 $1,935,000 $387,000 $1,006 5.38%
    20 Year 3 $855,000 $285,000 $2,195 4.67%
    3 Year 3 $555,000 $185,000 $0 5.80%
    15 Year 1 $205,000 $205,000 $2,209 4.00%
    1 Year 1 $275,000 $275,000 $0 4.75%

    For 2018, First Heritage Bank's most frequently cited loan duration was 5 Year, with 26 originations. The 2nd most popular length was 30 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 40 $4,780,000 $119,500

    First Heritage Bank's average total fees were $2,046, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 40 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 31 $4,455,000 $143,710
    4-5% 13 $2,605,000 $200,385
    3-4% 1 $205,000 $205,000
    6-7% 1 $35,000 $35,000

    During 2018, First Heritage Bank's average interest rate for loans was 5.07%, while their most frequently originated rate bucket for loans was 5-6%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $970,000 $40,417 $913 5.36%
    $200k-400k 10 $2,510,000 $251,000 $1,992 4.82%
    $100k-200k 9 $1,195,000 $132,778 $1,067 5.25%
    $1MM+ 1 $1,505,000 $1,505,000 $0 5.45%
    $400k-600k 1 $465,000 $465,000 $0 5.25%
    $600k-1MM 1 $655,000 $655,000 $1,490 5.00%

    2018 saw First Heritage Bank place emphasis on $100,000 or less loans with 24 originations, totaling $970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 14 $910,000 $65,000 $894 5.21%
    $100k-150k 12 $1,590,000 $132,500 $1,405 5.18%
    $50k-75k 6 $300,000 $50,000 $1,025 5.34%
    $75k-100k 6 $780,000 $130,000 $1,435 5.17%
    $250k+ 3 $1,135,000 $378,333 $1,406 4.99%
    $150k-250k 2 $430,000 $215,000 $1,763 5.10%

    First Heritage Bank lent most frequently to those with incomes in the $50k or less range, with 14 originations. The second most popular income band? $100k-150k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 12 $810,000 $67,500 $1,186 5.21%
    20-30% 12 $1,420,000 $118,333 $1,116 5.13%
    30-36% 7 $1,415,000 $202,143 $1,473 5.20%
    >60% 3 $185,000 $61,667 $827 5.40%
    43% 2 $280,000 $140,000 $902 5.28%
    38% 1 $35,000 $35,000 $877 5.47%
    41% 1 $205,000 $205,000 $1,173 5.22%
    44% 1 $85,000 $85,000 $1,026 5.68%
    45% 1 $215,000 $215,000 $2,100 5.25%
    50-60% 1 $115,000 $115,000 $632 5.11%
    37% 1 $85,000 $85,000 $1,734 5.25%
    36% 1 $295,000 $295,000 $2,337 4.25%

    First Heritage Bank lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 43 $5,145,000 $119,651 $1,201 5.20%
    Not applicable 3 $2,155,000 $718,333 $0 5.42%

    Approval Rates

    Total approvals of all applications
    89.83%

    First Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.78%

    First Heritage Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 46 $7,300,000 $158,696

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $1,505,000 $1,505,000
    Single Family (1-4 Units):Manufactured 5 $235,000 $47,000
    Single Family (1-4 Units):Site-Built 40 $5,560,000 $139,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $110,000 $55,000 $812 5.37%
    40-60% 6 $320,000 $53,333 $758 5.20%
    60-80% 22 $4,910,000 $223,182 $1,283 5.23%
    80-100% 12 $1,850,000 $154,167 $1,608 5.16%
    Under 20% 4 $110,000 $27,500 $594 5.22%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 5 35.7%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 7.1%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 3 21.4%