Springfield First Community Bank Mortgage Rates, Fees & Info

Springfield, MO

LEI: 5493007IES1RWVUDDU23

Tax ID: 26-3420981

5 stars - Updated: 9/25/23 - out of 5 stars, based on 25 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Springfield First Community Bank is a smaller bank specializing in Home Purchase loans. Springfield First Community Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Springfield, St. Louis, Fayetteville, Joplin, and Kansas City among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Springfield First Community 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. Springfield First Community 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.

    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 6.52% 9/25/23
    30 Year Conventional Refi 6.49% 9/25/23
    30 Year Cash-out Refi 6.56% 9/25/23
    30 Year FHA Purchase 7.28% 9/25/23
    30 Year FHA Refi 6.69% 9/25/23
    30 Year VA Purchase 6.24% 9/25/23
    30 Year VA Refi 6.27% 9/25/23
    30 Year USDA Purchase 6.88% 9/25/23
    15 Year Conventional Purchase 6.15% 9/25/23
    15 Year Conventional Refi 5.95% 9/25/23
    15 Year Cash-out Refi 5.95% 9/25/23
    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.

    Springfield First Community Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Springfield First Community 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

    616

    Origination Dollar Volume (All Markets)

    $241,790,000
    Show all (8) awards

    Relative Rate

    Springfield First Community Bank's average 30 year fixed mortgage rate was 4.66%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Springfield First Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,728.

    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
    SPRINGFIELD, MO (FHA|USDA|VA) 392 $123,850,000 $315,944 $3,441 4.59%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $37,015,000 $7,403,000 $2,648 4.46%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 5 $26,385,000 $5,277,000 $3,632 4.08%
    JOPLIN, MO (FHA|USDA|VA) 108 $17,460,000 $161,667 $3,442 5.03%
    Outside of Metro Areas 69 $13,805,000 $200,072 $4,238 4.86%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 8 $9,880,000 $1,235,000 $2,288 4.56%
    Branson, MO (FHA|USDA|VA) 7 $3,945,000 $563,571 $3,606 4.32%
    TULSA, OK (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $0 2.64%
    Fort Leonard Wood, MO (FHA|USDA|VA) 2 $2,270,000 $1,135,000 $1,995 5.16%
    COLUMBIA, MO (FHA|USDA|VA) 2 $670,000 $335,000 $2,714 3.69%
    Lebanon, MO (FHA|USDA|VA) 4 $670,000 $167,500 $4,539 5.84%
    Sedalia, MO (FHA|USDA|VA) 1 $405,000 $405,000 $0 5.75%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $365,000 $365,000 $8,034 5.25%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $355,000 $355,000 $4,689 5.25%
    Miami, OK (FHA|USDA|VA) 1 $335,000 $335,000 $4,497 4.50%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $315,000 $315,000 $3,679 5.13%
    Parsons, KS (FHA|USDA|VA) 1 $275,000 $275,000 $2,810 5.38%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $275,000 $275,000 $3,022 5.38%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.75%
    Garden City, KS (FHA|USDA|VA) 1 $235,000 $235,000 $4,426 4.63%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.25%
    MANHATTAN, KS (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.75%
    Rolla, MO (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.50%
    Poplar Bluff, MO (FHA|USDA|VA) 1 $35,000 $35,000 $1,809 6.13%
    Springfield First Community Bank's top markets include Springfield, St. Louis, Fayetteville, Joplin, and Kansas City among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Springfield First Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST STATE MORTGAGE SERVICES, LLC
    Similarity Rank: 665
    Sullivan Bank
    Similarity Rank: 700
    MISSOURI ELECTRIC COOPERATIVES EMPL
    Similarity Rank: 1180
    Springfield First Community Bank
    Similarity Rank: 1200
    Hawthorn Bank
    Similarity Rank: 1216
    The Bank of Missouri
    Similarity Rank: 1222
    First State Community Bank
    Similarity Rank: 1272
    Low VA Rates, LLC
    Similarity Rank: 2810
    ASSEMBLIES OF GOD Credit Union
    Similarity Rank: 3552
    Oakstar Bank
    Similarity Rank: 3648

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 509 $221,045,000 $434,273 $2,726 4.72%
    FHA 62 $11,740,000 $189,355 $6,175 4.67%
    USDA 29 $3,955,000 $136,379 $4,600 4.47%
    VA 16 $5,050,000 $315,625 $7,534 4.81%

    For 2022, Springfield First Community Bank's most frequently originated type of loan was Conventional, with 509 originations. Their 2nd most popular type was FHA, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 397 $182,985,000 $460,919 $3,847 4.77%
    Refi 152 $46,550,000 $306,250 $2,733 4.68%
    Cash Out Refi 46 $7,970,000 $173,261 $3,004 4.20%
    Home Improvement 13 $2,315,000 $178,077 $1,835 5.60%
    Other 8 $1,970,000 $246,250 $2,275 3.41%

    For 2022, Springfield First Community Bank's most frequently cited loan purpose was Home Purchase, with 397 originations. The 2nd most popular reason was Refi, with 152 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 389 $83,615,000 $214,949 $3,728 4.66%
    5 Year 98 $119,550,000 $1,219,898 $512 4.70%
    Other 41 $21,665,000 $528,415 $1,820 4.97%
    3 Year 34 $7,550,000 $222,059 $0 5.53%
    15 Year 30 $4,820,000 $160,667 $2,470 3.38%
    1 Year 15 $3,435,000 $229,000 $4,638 5.80%
    10 Year 6 $860,000 $143,333 $1,226 5.00%
    20 Year 3 $295,000 $98,333 $2,847 4.63%

    For 2022, Springfield First Community Bank's most frequently cited loan duration was 30 Year, with 389 originations. The 2nd most popular length was 5 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 320 $67,300,000 $210,313
    $1k-2k 58 $11,880,000 $204,828
    $2k-3k 26 $6,820,000 $262,308
    $3k-4k 9 $2,005,000 $222,778
    $4k-5k 5 $1,395,000 $279,000
    $5k+ 4 $1,400,000 $350,000

    Springfield First Community Bank's average total fees were $3,728, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 320 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 177 $97,525,000 $550,989
    5-6% 162 $31,380,000 $193,704
    3-4% 150 $80,080,000 $533,867
    6-7% 63 $15,255,000 $242,143
    2.5-3% 44 $13,940,000 $316,818
    7-8% 12 $1,420,000 $118,333
    <2.5% 6 $2,010,000 $335,000
    Over 8% 2 $180,000 $90,000

    During 2022, Springfield First Community Bank's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 177 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 237 $35,335,000 $149,093 $3,295 4.77%
    $200k-400k 180 $49,240,000 $273,556 $4,034 4.71%
    $100,000 or less 131 $8,505,000 $64,924 $2,537 4.87%
    $400k-600k 37 $17,545,000 $474,189 $4,581 4.26%
    $1MM+ 19 $122,995,000 $6,473,421 $0 4.37%
    $600k-1MM 12 $8,170,000 $680,833 $3,827 3.55%

    2022 saw Springfield First Community Bank place emphasis on $100k-200k loans with 237 originations, totaling $35,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 131 $15,265,000 $116,527 $3,092 4.75%
    $50k-75k 116 $20,730,000 $178,707 $3,601 4.67%
    $75k-100k 76 $16,620,000 $218,684 $4,157 4.83%
    $100k-150k 67 $16,515,000 $246,493 $3,811 4.70%
    $150k-250k 51 $15,265,000 $299,314 $4,063 4.56%
    $250k+ 25 $5,725,000 $229,000 $3,038 4.85%

    Springfield First Community Bank lent most frequently to those with incomes in the $50k or less range, with 131 originations. The second most popular income band? $50k-75k, with 116 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 93 $19,415,000 $208,763 $3,242 4.75%
    20-30% 87 $15,195,000 $174,655 $3,113 4.55%
    <20% 39 $7,615,000 $195,256 $2,750 4.24%
    41% 24 $4,730,000 $197,083 $3,997 4.69%
    39% 23 $5,265,000 $228,913 $3,402 4.49%
    50-60% 22 $5,280,000 $240,000 $5,710 4.77%
    44% 19 $4,465,000 $235,000 $3,223 4.78%
    37% 19 $4,365,000 $229,737 $4,310 3.94%
    38% 17 $4,105,000 $241,471 $3,577 4.81%
    40% 16 $3,040,000 $190,000 $3,950 5.04%
    36% 16 $3,070,000 $191,875 $3,479 4.95%
    45% 15 $3,505,000 $233,667 $3,146 4.32%
    42% 13 $1,955,000 $150,385 $3,916 4.76%
    43% 13 $2,925,000 $225,000 $3,852 4.45%
    49% 13 $2,425,000 $186,538 $3,390 4.79%
    46% 12 $3,010,000 $250,833 $3,704 4.79%
    47% 7 $1,795,000 $256,429 $4,356 4.38%
    48% 5 $965,000 $193,000 $6,111 5.30%
    >60% 5 $1,325,000 $265,000 $4,160 5.15%

    Springfield First Community Bank lent most frequently to those with DTI ratios of 30-36%, with 93 originations. The next most common DTI ratio? 20-30%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 121 $143,365,000 $1,184,835 $2,043 4.90%
    White 464 $91,840,000 $197,931 $3,549 4.65%
    Not provided 16 $3,610,000 $225,625 $4,027 5.20%
    Asian 6 $1,260,000 $210,000 $3,041 4.71%
    Black 5 $925,000 $185,000 $3,713 3.67%
    American Indian 3 $535,000 $178,333 $2,955 4.92%
    Native Hawaiian 1 $255,000 $255,000 $2,727 4.25%

    Approval Rates

    Total approvals of all applications
    94.30%

    Springfield First Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.46%

    Springfield First Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 616 $241,790,000 $392,516

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    616 $241,790,000 $392,516

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $9,900,000 $260,526 $2,039 4.81%
    40-60% 90 $46,230,000 $513,667 $2,736 4.56%
    60-80% 214 $114,190,000 $533,598 $3,014 4.65%
    80-100% 252 $58,760,000 $233,175 $3,944 4.73%
    Over 100% 7 $1,975,000 $282,143 $12,450 5.00%
    Under 20% 13 $10,355,000 $796,538 $1,456 5.44%