First State Bank Mortgage Rates, Fees & Info
Gainesville, TXLEI: 54930079VLB4FPPZ7Y58
Tax ID: 75-0270410
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Mortgage Data
Review & Overview
First State Bank is a smaller bank specializing in loans. First State Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Dallas, Sherman, Gainesville, Houston, and Wichita Falls among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)First State 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 State Bank is typically an average 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 | 6.54% | 3/24/23 |
| 30 Year Conventional Refi | 6.44% | 3/24/23 |
| 30 Year Cash-out Refi | 6.71% | 3/24/23 |
| 30 Year FHA Purchase | 7.57% | 3/24/23 |
| 30 Year FHA Refi | 6.27% | 3/24/23 |
| 30 Year VA Purchase | 6.36% | 3/24/23 |
| 30 Year USDA Purchase | 7.07% | 3/24/23 |
| 15 Year Conventional Purchase | 6.31% | 3/24/23 |
| 15 Year Conventional Refi | 6.71% | 3/24/23 |
| 15 Year Cash-out Refi | 6.71% | 3/24/23 |
| 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. | ||
Originations
512Origination Dollar Volume (All Markets)
$161,770,000Awards
First State Bank - 2022
First State Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
First State Bank's average 30 year fixed mortgage rate was
4.98%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.22%.
Relative Fees (Closing Costs)
First State Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,930.
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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 263 | $88,255,000 | $335,570 | $7,088 | 5.05% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 86 | $30,370,000 | $353,140 | $6,581 | 5.24% |
| Gainesville, TX (FHA|USDA|VA) | 107 | $27,685,000 | $258,738 | $5,608 | 5.05% |
| Outside of Metro Areas | 33 | $9,325,000 | $282,576 | $6,798 | 5.06% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $5,231 | 4.33% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $5,497 | 5.66% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $8,519 | 5.79% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $5,636 | 5.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $7,183 | 6.63% |
| Durant, OK (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,511 | 3.25% |
| WACO, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,524 | 6.00% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $11,573 | 4.13% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,934 | 5.13% |
| Bonham, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,971 | 3.00% |
| Paris, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,008 | 5.38% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,836 | 4.88% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,284 | 5.63% |
| TYLER, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 5.75% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 5.75% |
| Searcy, AR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against First State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 360
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Product Mix
For 2022, First State Bank's most frequently originated type of loan was Conventional, with 470 originations. Their 2nd most popular type was FHA, with 28 originations.
Loan Reason
For 2022, First State Bank's most frequently cited loan purpose was Home Purchase, with 391 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.
Loan Duration/Length
For 2022, First State Bank's most frequently cited loan duration was 30 Year, with 364 originations. The 2nd most popular length was 15 Year, with 61 originations.
Origination Fees/Closing Costs
First State Bank's average total fees were $6,930, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 235 originations.
Interest Rates
During 2022, First State Bank's average interest rate for loans was 4.98%, while their most frequently originated rate bucket for loans was 5-6%, with 142 originations.
Loan Sizing
2022 saw First State Bank place emphasis on $200k-400k loans with 222 originations, totaling $65,460,000 in origination value.
Applicant Income
First State Bank lent most frequently to those with incomes in the $100k-150k range, with 131 originations. The second most popular income band? $150k-250k, with 118 originations.
Applicant Debt to Income Ratio
First State Bank lent most frequently to those with DTI ratios of 30-36%, with 100 originations. The next most common DTI ratio? 20-30%, with 81 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.70%
First State Bank has an average approval rate.
Pick Rate
Approvals leading to origination72.46%
First State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 512 | $161,770,000 | $315,957 |
LTV Distribution
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% |