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 loans. First Western Mortgage 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: Fayetteville, Fort Smith, Little Rock, and Killeen among others. We have data for 5 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% 12/29/24
    30 Year Conventional Refi 6.62% 12/29/24
    30 Year Cash-out Refi 6.74% 12/29/24
    30 Year FHA Purchase 7.21% 12/29/24
    30 Year VA Purchase 6.34% 12/29/24
    30 Year USDA Purchase 6.89% 12/29/24
    15 Year Conventional Purchase 6.02% 12/29/24
    15 Year Conventional Refi 7.03% 12/29/24
    15 Year Cash-out Refi 7.03% 12/29/24
    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

    148

    Origination Dollar Volume (All Markets)

    $42,480,000
    Show all (5) 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) 91 $30,085,000 $330,604 $3,563 4.76%
    FORT SMITH, AR-OK (FHA|USDA|VA) 41 $9,175,000 $223,780 $3,881 5.14%
    Outside of Metro Areas 12 $2,440,000 $203,333 $2,739 4.85%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 3 $535,000 $178,333 $3,084 5.75%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $245,000 $245,000 $4,064 4.00%
    First Western Mortgage's top markets include Fayetteville, Fort Smith, Little Rock, and Killeen among others.

    Their top states include:
  • Arkansas (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.

    The Bank of Missouri
    Similarity Rank: 329
    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 445
    United Bank
    Similarity Rank: 459
    Signature Bank of Arkansas
    Similarity Rank: 936
    First Security Bank
    Similarity Rank: 1064
    The First National Bank of Fort Smith
    Similarity Rank: 1596
    Firstar Bank
    Similarity Rank: 1716
    First Financial Bank
    Similarity Rank: 1820
    UNIFY FINANCIAL Credit Union
    Similarity Rank: 2040
    ARKANSAS Federal Credit Union
    Similarity Rank: 2106

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 120 $36,750,000 $306,250 $3,193 4.87%
    FHA 17 $2,935,000 $172,647 $5,394 5.19%
    VA 9 $2,385,000 $265,000 $4,652 4.85%
    USDA 2 $410,000 $205,000 $4,921 3.81%

    For 2022, First Western Mortgage's most frequently originated type of loan was Conventional, with 120 originations. Their 2nd most popular type was FHA, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 119 $35,615,000 $299,286 $3,598 4.96%
    Cash Out Refi 15 $3,845,000 $256,333 $3,906 4.58%
    Refi 11 $2,645,000 $240,455 $3,059 4.26%
    Other 3 $375,000 $125,000 $2,623 5.92%

    For 2022, First Western Mortgage's most frequently cited loan purpose was Home Purchase, with 119 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 135 $38,885,000 $288,037 $3,614 4.95%
    15 Year 12 $3,550,000 $295,833 $3,131 4.29%
    20 Year 1 $45,000 $45,000 $3,148 4.13%

    For 2022, First Western Mortgage's most frequently cited loan duration was 30 Year, with 135 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 108 $30,050,000 $278,241
    $1k-2k 14 $4,770,000 $340,714
    $2k-3k 10 $3,610,000 $361,000
    $3k-4k 4 $1,180,000 $295,000
    $5k+ 3 $1,215,000 $405,000
    $4k-5k 2 $620,000 $310,000

    First Western Mortgage's average total fees were $3,614, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 108 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 52 $14,670,000 $282,115
    3-4% 41 $12,395,000 $302,317
    4-5% 34 $9,240,000 $271,765
    6-7% 15 $4,225,000 $281,667
    2.5-3% 3 $1,315,000 $438,333
    7-8% 3 $635,000 $211,667

    During 2022, First Western Mortgage's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 5-6%, with 52 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 60 $17,130,000 $285,500 $3,933 4.94%
    $100k-200k 44 $6,540,000 $148,636 $3,116 4.88%
    $400k-600k 30 $14,100,000 $470,000 $3,710 4.90%
    $100,000 or less 8 $590,000 $73,750 $2,346 5.02%
    $600k-1MM 6 $4,120,000 $686,667 $3,825 4.27%

    2022 saw First Western Mortgage place emphasis on $200k-400k loans with 60 originations, totaling $17,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 29 $8,525,000 $293,966 $4,190 4.90%
    $150k-250k 27 $10,735,000 $397,593 $3,417 5.02%
    $50k or less 24 $3,300,000 $137,500 $2,758 5.38%
    $75k-100k 24 $6,400,000 $266,667 $3,771 4.60%
    $50k-75k 22 $4,850,000 $220,455 $3,917 4.85%
    $250k+ 18 $7,470,000 $415,000 $3,603 4.48%

    First Western Mortgage lent most frequently to those with incomes in the $100k-150k range, with 29 originations. The second most popular income band? $150k-250k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 36 $9,530,000 $264,722 $3,172 4.56%
    30-36% 24 $8,210,000 $342,083 $3,632 4.91%
    <20% 12 $4,740,000 $395,000 $3,545 4.18%
    43% 10 $3,420,000 $342,000 $3,820 5.05%
    38% 9 $1,915,000 $212,778 $3,533 5.36%
    42% 8 $2,190,000 $273,750 $3,431 4.23%
    44% 8 $1,620,000 $202,500 $3,263 5.03%
    50-60% 7 $1,405,000 $200,714 $6,334 5.57%
    47% 5 $1,765,000 $353,000 $3,699 4.53%
    37% 4 $990,000 $247,500 $3,195 4.25%
    41% 4 $1,130,000 $282,500 $1,897 5.63%
    49% 4 $1,300,000 $325,000 $3,531 5.44%
    39% 3 $555,000 $185,000 $5,318 4.88%
    36% 3 $915,000 $305,000 $3,322 5.88%
    45% 3 $545,000 $181,667 $2,829 5.67%
    46% 3 $815,000 $271,667 $3,129 6.04%
    48% 3 $845,000 $281,667 $3,142 6.42%
    40% 2 $590,000 $295,000 $4,344 4.63%

    First Western Mortgage lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? 30-36%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 119 $33,235,000 $279,286 $3,585 4.91%
    Asian 11 $4,155,000 $377,727 $3,613 4.65%
    Not provided 8 $2,160,000 $270,000 $2,779 5.58%
    Black 4 $1,350,000 $337,500 $3,053 4.06%
    American Indian 5 $1,075,000 $215,000 $4,983 4.58%
    Korean 1 $505,000 $505,000 $2,824 5.00%

    Approval Rates

    Total approvals of all applications
    93.70%

    First Western Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    39.19%

    First Western Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 148 $42,480,000 $287,027

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    148 $42,480,000 $287,027

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $2,520,000 $210,000 $2,980 4.91%
    40-60% 18 $4,250,000 $236,111 $3,461 4.50%
    60-80% 49 $16,865,000 $344,184 $3,583 4.88%
    80-100% 67 $18,345,000 $273,806 $3,633 5.02%
    Over 100% 1 $345,000 $345,000 $8,688 3.38%
    Under 20% 1 $155,000 $155,000 $2,825 4.63%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%