First Arkansas Bank And Trust Mortgage Rates, Fees & Info
Jacksonville, ARLEI: 5493007BBMW58UQT5588
Tax ID: 71-0231333
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Mortgage Data
Review & Overview
First Arkansas Bank And Trust is a smaller bank specializing in Home Purchase loans. First Arkansas Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Little Rock, Searcy, Hot Springs, and Russellville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)First Arkansas Bank And Trust 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.
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Originations
95Origination Dollar Volume (All Markets)
$25,625,000Top 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 |
|---|---|---|---|---|---|
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 71 | $18,765,000 | $264,296 | $2,638 | 8.26% |
| Outside of Metro Areas | 14 | $3,880,000 | $277,143 | $4,958 | 7.22% |
| Searcy, AR (FHA|USDA|VA) | 6 | $1,440,000 | $240,000 | $0 | 6.58% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $4,183 | 6.25% |
| Russellville, AR (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 8.60% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Arkansas Bank and Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 95 | $25,625,000 | $269,737 | $3,853 | 7.97% |
For 2023, First Arkansas Bank And Trust's most frequently originated type of loan was Conventional, with 95 originations.
Loan Reason
For 2023, First Arkansas Bank And Trust's most frequently cited loan purpose was Home Purchase, with 91 originations. The 2nd most popular reason was Home Improvement, with 2 originations.
Loan Duration/Length
For 2023, First Arkansas Bank And Trust's most frequently cited loan duration was 3 Year, with 67 originations. The 2nd most popular length was Other, with 18 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 7 | $3,745,000 | $535,000 |
First Arkansas Bank And Trust's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 54 | $14,000,000 | $259,259 |
| 7-8% | 27 | $5,895,000 | $218,333 |
| 5-6% | 7 | $2,535,000 | $362,143 |
| 6-7% | 4 | $2,110,000 | $527,500 |
| 4-5% | 3 | $1,085,000 | $361,667 |
During 2023, First Arkansas Bank And Trust's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 54 originations.
Loan Sizing
2023 saw First Arkansas Bank And Trust place emphasis on $100k-200k loans with 38 originations, totaling $5,590,000 in origination value.
Applicant Income
First Arkansas Bank And Trust lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $250k+, with 5 originations.
Applicant Debt to Income Ratio
First Arkansas Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 2 originations. The next most common DTI ratio? 30-36%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.00%
First Arkansas Bank And Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.84%
First Arkansas Bank And Trust has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 95 | $25,625,000 | $269,737 |