Firstbank Mortgage Rates, Fees & Info

Lakewood, CO

LEI: 5493009V3WNJX9V2GZ85

Tax ID: 84-0521049

5 stars - Updated: 11/17/24 - out of 5 stars, based on 59 reviews

Latest/2023 | 2022 Data | 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

    Firstbank is a small bank specializing in Home Purchase loans. Firstbank 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.) Their top markets by origination volume include: Denver, Boulder, Edwards, Phoenix, and Fort Collins among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Firstbank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Firstbank 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 relatively high 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
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 6.41% 11/17/24
    30 Year Conventional Refi 6.47% 11/17/24
    30 Year Cash-out Refi 6.36% 11/17/24
    30 Year FHA Purchase 6.85% 11/17/24
    15 Year Conventional Purchase 5.73% 11/17/24
    15 Year Conventional Refi 5.82% 11/17/24
    15 Year Cash-out Refi 5.82% 11/17/24
    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.

    Firstbank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Firstbank. 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

    3,430

    Origination Dollar Volume (All Markets)

    $1,202,120,000
    Show all (9) awards

    Relative Rate

    Firstbank's average 30 year fixed mortgage rate was 6.96%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.48%.

    Relative Fees (Closing Costs)

    Firstbank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,561.

    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 $9,089.

    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
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1,829 $547,735,000 $299,472 $2,180 7.91%
    BOULDER, CO (FHA|USDA|VA) 208 $143,750,000 $691,106 $3,423 7.77%
    Edwards, CO (FHA|USDA|VA) 209 $104,365,000 $499,354 $2,777 7.76%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 223 $90,605,000 $406,300 $3,288 7.74%
    FORT COLLINS, CO (FHA|USDA|VA) 240 $65,990,000 $274,958 $2,575 7.82%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 168 $55,820,000 $332,262 $2,006 7.76%
    GREELEY, CO (FHA|USDA|VA) 238 $44,960,000 $188,908 $1,964 7.80%
    Breckenridge, CO (FHA|USDA|VA) 98 $39,400,000 $402,041 $3,247 7.66%
    Glenwood Springs, CO (FHA|USDA|VA) 59 $38,105,000 $645,847 $4,614 7.55%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 84 $34,460,000 $410,238 $3,846 7.55%
    Outside of Metro Areas 46 $18,010,000 $391,522 $2,719 7.69%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $6,405,000 $2,135,000 $24,340 7.92%
    FLAGSTAFF, AZ (FHA|USDA|VA) 2 $3,460,000 $1,730,000 $0 8.19%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $2,405,000 $801,667 $7,091 7.13%
    PUEBLO, CO (FHA|USDA|VA) 7 $1,625,000 $232,143 $3,123 7.88%
    Payson, AZ (FHA|USDA|VA) 1 $1,445,000 $1,445,000 $12,723 7.25%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $1,090,000 $545,000 $0 7.38%
    Steamboat Springs, CO (FHA|USDA|VA) 2 $660,000 $330,000 $3,479 8.25%
    TUCSON, AZ (FHA|USDA|VA) 2 $560,000 $280,000 $7,803 7.63%
    GRAND JUNCTION, CO (FHA|USDA|VA) 3 $405,000 $135,000 $1,764 7.83%
    Durango, CO (FHA|USDA|VA) 1 $365,000 $365,000 $2,829 7.00%
    Show Low, AZ (FHA|USDA|VA) 1 $345,000 $345,000 $4,402 7.75%
    Fort Morgan, CO (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.75%
    Firstbank's top markets include Denver, Boulder, Edwards, Phoenix, and Fort Collins among others.

    Their top states include:
  • Colorado (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 66
    ALTURA
    Similarity Rank: 176
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 276
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 300
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 477
    ANB Bank
    Similarity Rank: 560
    Credit Union of Southern California
    Similarity Rank: 603
    FRONTWAVE
    Similarity Rank: 660
    CREDIT UNION WEST
    Similarity Rank: 814
    OneAZ Credit Union
    Similarity Rank: 924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,091 $946,135,000 $452,480 $2,481 7.31%
    HELOC 1,330 $252,790,000 $190,068 n/a 8.67%
    FHA 9 $3,195,000 $355,000 $10,639 6.64%

    For 2023, Firstbank's most frequently originated type of loan was Conventional, with 2,091 originations. Their 2nd most popular type was HELOC, with 1,330 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,234 $826,710,000 $669,943 $4,669 7.27%
    Home Improvement 1,056 $115,960,000 $109,811 $296 8.32%
    Other 586 $72,180,000 $123,174 $439 7.97%
    Refi 540 $183,540,000 $339,889 $1,674 8.07%
    Cash Out Refi 14 $3,730,000 $266,429 $3,932 6.39%

    For 2023, Firstbank's most frequently cited loan purpose was Home Purchase, with 1,234 originations. The 2nd most popular reason was Home Improvement, with 1,056 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 1,289 $229,895,000 $178,351 $221 8.36%
    30 Year 1,064 $584,020,000 $548,891 $4,561 6.96%
    15 Year 414 $56,680,000 $136,908 $693 7.65%
    5 Year 296 $57,980,000 $195,878 $73 8.27%
    Other 185 $214,165,000 $1,157,649 $2,472 7.94%
    3 Year 141 $34,215,000 $242,660 $0 9.12%
    1 Year 27 $21,025,000 $778,704 $6,047 8.78%
    20 Year 14 $4,140,000 $295,714 $3,828 5.94%

    For 2023, Firstbank's most frequently cited loan duration was 10 Year, with 1,289 originations. The 2nd most popular length was 30 Year, with 1,064 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,331 $349,925,000 $262,904
    $1k-2k 144 $73,740,000 $512,083
    $5k+ 79 $60,415,000 $764,747
    $2k-3k 55 $22,695,000 $412,636
    $3k-4k 29 $16,845,000 $580,862
    $4k-5k 17 $8,775,000 $516,176

    Firstbank's average total fees were $4,561, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,331 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 1,689 $401,345,000 $237,623
    Over 8% 945 $220,415,000 $233,243
    6-7% 673 $362,365,000 $538,432
    5-6% 114 $191,720,000 $1,681,754
    4-5% 9 $26,275,000 $2,919,444

    During 2023, Firstbank's average interest rate for loans was 6.96%, while their most frequently originated rate bucket for loans was 7-8%, with 1,689 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,183 $59,105,000 $49,962 $176 8.05%
    $200k-400k 732 $209,860,000 $286,694 $3,828 7.66%
    $100k-200k 722 $93,970,000 $130,152 $1,825 8.22%
    $400k-600k 377 $179,605,000 $476,406 $4,313 7.45%
    $600k-1MM 236 $173,580,000 $735,508 $5,375 7.29%
    $1MM+ 180 $486,000,000 $2,700,000 $7,711 7.16%

    2023 saw Firstbank place emphasis on $100,000 or less loans with 1,183 originations, totaling $59,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 714 $166,090,000 $232,619 $2,497 7.91%
    $250k+ 671 $341,495,000 $508,934 $4,693 7.85%
    $100k-150k 653 $112,095,000 $171,662 $1,758 7.83%
    $75k-100k 376 $54,830,000 $145,824 $2,181 7.69%
    $50k-75k 320 $38,510,000 $120,344 $1,570 7.57%
    $50k or less 149 $23,635,000 $158,624 $1,653 7.63%

    Firstbank lent most frequently to those with incomes in the $150k-250k range, with 714 originations. The second most popular income band? $250k+, with 671 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 527 $170,735,000 $323,975 $2,597 7.89%
    20-30% 468 $95,310,000 $203,654 $2,285 7.84%
    30-36% 422 $89,690,000 $212,536 $1,948 7.74%
    >60% 376 $194,740,000 $517,926 $4,924 7.93%
    <20% 247 $69,025,000 $279,453 $2,376 7.88%
    49% 107 $22,145,000 $206,963 $2,289 7.77%
    44% 99 $23,985,000 $242,273 $2,147 7.68%
    45% 96 $24,530,000 $255,521 $2,344 7.54%
    48% 92 $22,760,000 $247,391 $1,988 7.74%
    46% 91 $24,245,000 $266,429 $2,973 7.88%
    42% 89 $22,505,000 $252,865 $2,092 7.61%
    43% 88 $21,740,000 $247,045 $2,989 7.49%
    36% 85 $18,455,000 $217,118 $1,798 7.90%
    47% 83 $25,795,000 $310,783 $2,436 7.67%
    41% 81 $17,055,000 $210,556 $2,974 7.85%
    40% 73 $17,265,000 $236,507 $1,896 7.68%
    39% 69 $14,345,000 $207,899 $1,992 7.65%
    37% 67 $14,255,000 $212,761 $1,616 7.77%
    38% 66 $15,840,000 $240,000 $2,809 7.79%

    Firstbank lent most frequently to those with DTI ratios of 50-60%, with 527 originations. The next most common DTI ratio? 20-30%, with 468 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,140 $509,740,000 $238,196 $2,370 7.86%
    Not applicable 542 $464,330,000 $856,697 $3,027 8.01%
    Not provided 449 $139,855,000 $311,481 $2,703 7.81%
    Asian 138 $48,100,000 $348,551 $2,885 7.48%
    Black 101 $24,925,000 $246,782 $3,734 7.12%
    American Indian 34 $6,770,000 $199,118 $1,713 7.63%
    Asian Indian 6 $4,680,000 $780,000 $3,782 7.94%
    Chinese 5 $1,485,000 $297,000 $1,545 7.10%
    Other Asian 6 $990,000 $165,000 $3,913 7.73%
    Native Hawaiian or Islander 4 $390,000 $97,500 $78 7.56%
    Korean 2 $370,000 $185,000 $0 8.06%
    Samoan 1 $245,000 $245,000 $0 7.75%
    Japanese 1 $205,000 $205,000 $2,875 7.25%
    Filipino 1 $35,000 $35,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    86.01%

    Firstbank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.96%

    Firstbank 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 3,430 $1,202,120,000 $350,472

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,430 $1,202,120,000 $350,472

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 528 $172,090,000 $325,928 $2,898 8.07%
    40-60% 323 $199,865,000 $618,777 $4,606 7.56%
    60-80% 618 $394,360,000 $638,123 $4,746 7.24%
    80-100% 258 $155,780,000 $603,798 $4,918 6.83%
    Over 100% 6 $132,420,000 $22,070,000 $0 5.53%
    Under 20% 1,697 $147,605,000 $86,980 $331 8.19%