First National Bank Mortgage Rates, Fees & Info

Altavista, VA

LEI: 5493007WCJ9R6VLLYR82

Tax ID: 54-0211100

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Mortgage Data

Review & Overview

First National Bank is a smaller bank specializing in Refi and Home Purchase loans. First National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lynchburg, Danville, Charlottesville, Myrtle Beach, and Roanoke among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

First National 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.

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Originations

212

Origination Dollar Volume (All Markets)

$40,150,000

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
LYNCHBURG, VA (FHA|USDA|VA) 108 $17,280,000 $160,000 $0 0.00%
Danville, VA (FHA|USDA|VA) 76 $10,720,000 $141,053 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $4,630,000 $1,157,500 $0 0.00%
Outside of Metro Areas 12 $2,080,000 $173,333 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $1,755,000 $585,000 $0 0.00%
ROANOKE, VA (FHA|USDA|VA) 4 $1,590,000 $397,500 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $695,000 $695,000 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
Martinsville, VA (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
First National Bank's top markets include Lynchburg, Danville, Charlottesville, Myrtle Beach, and Roanoke among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 212 $40,150,000 $189,387 $0 0.00%

    For 2022, First National Bank's most frequently originated type of loan was Conventional, with 212 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 95 $15,385,000 $161,947 $0 0.00%
    Home Purchase 82 $21,840,000 $266,341 $0 0.00%
    Other 22 $1,900,000 $86,364 $0 0.00%
    Home Improvement 13 $1,025,000 $78,846 $0 0.00%

    For 2022, First National Bank's most frequently cited loan purpose was Refi, with 95 originations. The 2nd most popular reason was Home Purchase, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 212 $40,150,000 $189,387 $0 0.00%

    For 2022, First National Bank's most frequently cited loan duration was Other, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 107 $6,065,000 $56,682 $0 0.00%
    $100k-200k 49 $6,795,000 $138,673 $0 0.00%
    $200k-400k 33 $9,445,000 $286,212 $0 0.00%
    $400k-600k 11 $5,335,000 $485,000 $0 0.00%
    $600k-1MM 9 $6,935,000 $770,556 $0 0.00%
    $1MM+ 3 $5,575,000 $1,858,333 $0 0.00%

    2022 saw First National Bank place emphasis on $100,000 or less loans with 107 originations, totaling $6,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 33 $2,615,000 $79,242 $0 0.00%
    $50k or less 27 $1,865,000 $69,074 $0 0.00%
    $100k-150k 25 $4,365,000 $174,600 $0 0.00%
    $75k-100k 24 $2,990,000 $124,583 $0 0.00%
    $150k-250k 18 $4,170,000 $231,667 $0 0.00%
    $250k+ 18 $7,010,000 $389,444 $0 0.00%

    First National Bank lent most frequently to those with incomes in the $50k-75k range, with 33 originations. The second most popular income band? $50k or less, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 212 $40,150,000 $189,387 $0 0.00%

    First National Bank lent most frequently to those with DTI ratios of Exempt%, with 212 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 134 $22,510,000 $167,985 $0 0.00%
    Not applicable 64 $16,440,000 $256,875 $0 0.00%
    Black 13 $1,105,000 $85,000 $0 0.00%
    Not provided 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.75%

    First National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.74%

    First National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 212 $40,150,000 $189,387

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    212 $40,150,000 $189,387

    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%