First Western Mortgage Rates, Fees & Info

BOONEVILLE, AR

LEI: 5493008YOT5ACN2UNP66

Tax ID: 71-0717727

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    First Western Mortgage is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. First Western Mortgage 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: Fayetteville, Fort Smith, Austin, Philadelphia, and Little Rock among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Western Mortgage 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 Western Mortgage 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 6.50% 6/3/24
    30 Year Conventional Refi 6.62% 6/3/24
    30 Year Cash-out Refi 6.74% 6/3/24
    30 Year FHA Purchase 7.21% 6/3/24
    30 Year VA Purchase 6.34% 6/3/24
    30 Year USDA Purchase 6.89% 6/3/24
    15 Year Conventional Purchase 6.02% 6/3/24
    15 Year Conventional Refi 7.03% 6/3/24
    15 Year Cash-out Refi 7.03% 6/3/24
    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.

    First Western Mortgage Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Western Mortgage. 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

    251

    Origination Dollar Volume (All Markets)

    $63,985,000
    Show all (8) awards

    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
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 160 $44,300,000 $276,875 $2,952 2.83%
    FORT SMITH, AR-OK (FHA|USDA|VA) 66 $13,390,000 $202,879 $2,916 2.91%
    Outside of Metro Areas 15 $3,795,000 $253,000 $2,961 2.91%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $485,000 $485,000 $2,675 3.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $465,000 $465,000 $4,771 2.88%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 3 $455,000 $151,667 $2,279 3.13%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $385,000 $385,000 $2,319 2.88%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $285,000 $285,000 $2,951 2.63%
    Mountain Home, AR (FHA|USDA|VA) 1 $175,000 $175,000 $2,092 2.88%
    JOPLIN, MO (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.25%
    LAFAYETTE, LA (FHA|USDA|VA) 1 $95,000 $95,000 $2,779 3.13%
    First Western Mortgage's top markets include Fayetteville, Fort Smith, Austin, Philadelphia, and Little Rock among others.

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

    • Similar Lenders

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

    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 561
    Truity Federal Credit Union
    Similarity Rank: 728
    First Security Bank
    Similarity Rank: 735
    The Farmers & Merchants Bank
    Similarity Rank: 784
    The First National Bank of Fort Smith
    Similarity Rank: 1540
    ARKANSAS Federal Credit Union
    Similarity Rank: 1608
    Generations Bank
    Similarity Rank: 1947
    First National Bank
    Similarity Rank: 2646
    PLANET HOME LENDING, LLC
    Similarity Rank: 2680
    Equity Bank
    Similarity Rank: 2773

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 220 $56,940,000 $258,818 $2,721 2.87%
    FHA 14 $2,470,000 $176,429 $4,217 2.78%
    VA 13 $3,705,000 $285,000 $4,477 2.86%
    USDA 4 $870,000 $217,500 $4,426 2.97%

    For 2021, First Western Mortgage's most frequently originated type of loan was Conventional, with 220 originations. Their 2nd most popular type was FHA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 126 $33,050,000 $262,302 $3,139 2.92%
    Refi 71 $16,745,000 $235,845 $2,603 2.70%
    Cash Out Refi 51 $13,495,000 $264,608 $2,901 2.94%
    Other 3 $695,000 $231,667 $2,793 3.00%

    For 2021, First Western Mortgage's most frequently cited loan purpose was Home Purchase, with 126 originations. The 2nd most popular reason was Refi, with 71 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 193 $49,055,000 $254,171 $3,038 2.98%
    15 Year 49 $12,045,000 $245,816 $2,538 2.39%
    20 Year 6 $2,210,000 $368,333 $3,008 2.83%
    Other 3 $675,000 $225,000 $2,715 3.46%

    For 2021, First Western Mortgage's most frequently cited loan duration was 30 Year, with 193 originations. The 2nd most popular length was 15 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 121 $33,155,000 $274,008
    $<1k 110 $26,060,000 $236,909
    $3k-4k 3 $1,105,000 $368,333
    $4k-5k 2 $660,000 $330,000
    $2k-3k 1 $115,000 $115,000
    $5k+ 1 $285,000 $285,000

    First Western Mortgage's average total fees were $3,038, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 121 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 127 $32,625,000 $256,890
    3-4% 70 $17,410,000 $248,714
    <2.5% 51 $13,455,000 $263,824
    4-5% 3 $495,000 $165,000

    During 2021, First Western Mortgage's average interest rate for loans was 2.98%, while their most frequently originated rate bucket for loans was 2.5-3%, with 127 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 123 $35,165,000 $285,894 $2,950 2.80%
    $100k-200k 84 $12,540,000 $149,286 $2,639 2.94%
    $400k-600k 31 $14,695,000 $474,032 $3,837 2.85%
    $100,000 or less 12 $940,000 $78,333 $2,213 2.99%
    $600k-1MM 1 $645,000 $645,000 $3,862 3.13%

    2021 saw First Western Mortgage place emphasis on $200k-400k loans with 123 originations, totaling $35,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 59 $16,555,000 $280,593 $3,147 2.82%
    $50k-75k 56 $10,880,000 $194,286 $2,819 2.95%
    $75k-100k 41 $10,135,000 $247,195 $2,665 2.80%
    $150k-250k 39 $13,405,000 $343,718 $2,788 2.80%
    $50k or less 30 $3,960,000 $132,000 $2,705 2.91%
    $250k+ 21 $8,025,000 $382,143 $4,159 3.05%

    First Western Mortgage lent most frequently to those with incomes in the $100k-150k range, with 59 originations. The second most popular income band? $50k-75k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 64 $16,410,000 $256,406 $3,099 2.86%
    30-36% 48 $12,040,000 $250,833 $2,880 2.85%
    <20% 42 $10,410,000 $247,857 $2,785 2.81%
    41% 13 $3,735,000 $287,308 $2,604 2.76%
    37% 11 $2,395,000 $217,727 $3,199 3.11%
    42% 10 $2,340,000 $234,000 $2,838 2.73%
    38% 10 $2,190,000 $219,000 $2,402 3.03%
    44% 10 $2,580,000 $258,000 $3,196 2.93%
    45% 10 $3,070,000 $307,000 $3,021 2.86%
    47% 8 $2,280,000 $285,000 $3,266 2.69%
    36% 6 $1,090,000 $181,667 $2,737 3.21%
    46% 6 $1,270,000 $211,667 $3,347 3.00%
    43% 4 $1,280,000 $320,000 $2,587 2.53%
    48% 4 $820,000 $205,000 $2,626 3.13%
    40% 2 $880,000 $440,000 $3,932 3.00%
    50-60% 1 $235,000 $235,000 $2,171 2.50%
    39% 1 $315,000 $315,000 $1,994 2.75%
    49% 1 $645,000 $645,000 $3,862 3.13%

    First Western Mortgage lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? 30-36%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 213 $52,885,000 $248,286 $2,994 2.87%
    Not provided 23 $6,485,000 $281,957 $2,685 2.81%
    Asian 11 $3,695,000 $335,909 $2,633 2.86%
    American Indian 3 $715,000 $238,333 $1,013 3.17%
    Black 1 $205,000 $205,000 $2,342 2.25%

    Approval Rates

    Total approvals of all applications
    94.55%

    First Western Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.47%

    First Western Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 251 $63,985,000 $254,920

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    251 $63,985,000 $254,920

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $2,145,000 $143,000 $2,280 2.73%
    40-60% 35 $9,925,000 $283,571 $2,814 2.75%
    60-80% 114 $29,710,000 $260,614 $2,876 2.87%
    80-100% 84 $21,440,000 $255,238 $2,896 2.93%
    Over 100% 2 $640,000 $320,000 $14,051 3.00%
    Under 20% 1 $125,000 $125,000 $2,430 3.13%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST MORTGAGE COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    FIRST MORTGAGE COMPANY Conventional home mortgage Trouble during payment process 5 83.3%