Firstbank Mortgage Rates, Fees & Info

Lakewood, CO

LEI: 5493009V3WNJX9V2GZ85

Tax ID: 84-0521049

5 stars - out of 5 stars, based on 87 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Firstbank is a mid-sized bank specializing in 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, Phoenix, Edwards, Boulder, and Fort Collins among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Firstbank 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. Firstbank is typically an average 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
    Home Equity Line of Credit (HELOC) 6.27% 3/23/23
    30 Year Conventional Purchase 6.41% 3/23/23
    30 Year Conventional Refi 6.47% 3/23/23
    30 Year Cash-out Refi 6.36% 3/23/23
    30 Year FHA Purchase 6.85% 3/23/23
    15 Year Conventional Purchase 5.73% 3/23/23
    15 Year Conventional Refi 5.82% 3/23/23
    15 Year Cash-out Refi 5.82% 3/23/23
    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.


    Originations

    7,570

    Origination Dollar Volume (All Markets)

    $3,687,610,000

    Awards

    FirstBank 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    Firstbank's average 30 year fixed mortgage rate was 4.3%.

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

    This yields a difference of -0.46%.

    Relative Fees (Closing Costs)

    Firstbank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,110.

    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
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3,935 $1,660,255,000 $421,920 $3,406 4.59%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 706 $467,930,000 $662,790 $4,604 4.45%
    Edwards, CO (FHA|USDA|VA) 421 $290,225,000 $689,371 $4,237 4.46%
    BOULDER, CO (FHA|USDA|VA) 426 $275,150,000 $645,892 $4,350 4.53%
    FORT COLLINS, CO (FHA|USDA|VA) 522 $217,030,000 $415,766 $3,475 4.62%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 391 $195,825,000 $500,831 $3,405 4.56%
    Breckenridge, CO (FHA|USDA|VA) 274 $162,800,000 $594,161 $4,747 4.47%
    GREELEY, CO (FHA|USDA|VA) 442 $140,620,000 $318,145 $3,765 4.64%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 169 $87,555,000 $518,077 $4,832 4.38%
    Glenwood Springs, CO (FHA|USDA|VA) 118 $85,920,000 $728,136 $6,679 4.40%
    Outside of Metro Areas 109 $69,775,000 $640,138 $6,338 4.28%
    GRAND JUNCTION, CO (FHA|USDA|VA) 10 $10,460,000 $1,046,000 $4,423 3.96%
    Steamboat Springs, CO (FHA|USDA|VA) 10 $5,560,000 $556,000 $4,870 4.58%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $5,025,000 $1,675,000 $10,980 4.88%
    PUEBLO, CO (FHA|USDA|VA) 20 $3,790,000 $189,500 $0 5.34%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $2,555,000 $2,555,000 $31,780 3.88%
    Montrose, CO (FHA|USDA|VA) 2 $2,320,000 $1,160,000 $16,614 4.75%
    Craig, CO (FHA|USDA|VA) 1 $2,035,000 $2,035,000 $0 4.30%
    Show Low, AZ (FHA|USDA|VA) 2 $690,000 $345,000 $3,368 4.69%
    ST. GEORGE, UT (FHA|USDA|VA) 1 $655,000 $655,000 $11,475 4.25%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $500,000 $250,000 $5,299 3.25%
    TUCSON, AZ (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.38%
    Payson, AZ (FHA|USDA|VA) 1 $295,000 $295,000 $0 4.50%
    Sterling, CO (FHA|USDA|VA) 1 $105,000 $105,000 $2,300 6.38%
    Cañon City, CO (FHA|USDA|VA) 1 $85,000 $85,000 $2,294 4.25%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.00%
    Firstbank's top markets include Denver, Phoenix, Edwards, Boulder, and Fort Collins among others.

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

    Los Angeles Federal Credit Union
    Similarity Rank: 136
    First Credit Union
    Similarity Rank: 210
    Credence Funding Corporation
    Similarity Rank: 316
    The District Federal Credit Union
    Similarity Rank: 588
    First City Credit Union
    Similarity Rank: 616
    Chaffey Federal Credit Union
    Similarity Rank: 644
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 762
    U S WIDE FINANCIAL LLC
    Similarity Rank: 768
    USC Credit Union
    Similarity Rank: 770
    MISSION
    Similarity Rank: 1025

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,987 $3,157,175,000 $633,081 $3,829 4.32%
    HELOC 2,575 $527,855,000 $204,992 n/a 5.01%
    FHA 8 $2,580,000 $322,500 $10,085 4.75%

    For 2022, Firstbank's most frequently originated type of loan was Conventional, with 4,987 originations. Their 2nd most popular type was HELOC, with 2,575 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,359 $2,525,065,000 $751,731 $5,128 4.44%
    Home Improvement 1,831 $273,415,000 $149,326 $610 4.98%
    Refi 1,547 $733,085,000 $473,875 $3,981 4.17%
    Other 751 $131,905,000 $175,639 $1,225 4.90%
    Cash Out Refi 82 $24,140,000 $294,390 $4,513 3.89%

    For 2022, Firstbank's most frequently cited loan purpose was Home Purchase, with 3,359 originations. The 2nd most popular reason was Home Improvement, with 1,831 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,190 $1,860,840,000 $583,335 $5,110 4.30%
    10 Year 2,757 $892,725,000 $323,803 $613 4.87%
    15 Year 855 $232,235,000 $271,620 $2,127 4.12%
    3 Year 253 $114,365,000 $452,036 $0 5.66%
    Other 235 $357,615,000 $1,521,766 $2,714 4.70%
    5 Year 206 $191,160,000 $927,961 $262 4.69%
    1 Year 52 $31,970,000 $614,808 $9,106 4.83%
    20 Year 22 $6,700,000 $304,545 $4,200 3.52%

    For 2022, Firstbank's most frequently cited loan duration was 30 Year, with 3,190 originations. The 2nd most popular length was 10 Year, with 2,757 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,331 $912,335,000 $391,392
    $1k-2k 323 $157,745,000 $488,375
    $5k+ 294 $290,270,000 $987,313
    $2k-3k 138 $72,500,000 $525,362
    $3k-4k 112 $66,190,000 $590,982
    $4k-5k 76 $42,580,000 $560,263

    Firstbank's average total fees were $5,110, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,331 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,628 $1,684,970,000 $641,161
    4-5% 2,042 $991,700,000 $485,651
    5-6% 1,421 $495,465,000 $348,673
    6-7% 712 $204,460,000 $287,163
    2.5-3% 461 $232,215,000 $503,720
    <2.5% 156 $44,960,000 $288,205
    7-8% 145 $32,745,000 $225,828
    Over 8% 5 $1,095,000 $219,000

    During 2022, Firstbank's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 3-4%, with 2,628 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,906 $550,930,000 $289,050 $3,540 4.44%
    $100,000 or less 1,550 $81,240,000 $52,413 $214 4.96%
    $100k-200k 1,513 $199,285,000 $131,715 $2,207 4.74%
    $400k-600k 1,111 $533,505,000 $480,203 $4,249 4.40%
    $600k-1MM 800 $610,070,000 $762,588 $5,891 4.27%
    $1MM+ 690 $1,712,580,000 $2,482,000 $9,672 4.13%

    2022 saw Firstbank place emphasis on $200k-400k loans with 1,906 originations, totaling $550,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 1,575 $953,955,000 $605,686 $6,521 4.54%
    $150k-250k 1,424 $453,130,000 $318,209 $3,802 4.67%
    $100k-150k 1,192 $275,930,000 $231,485 $2,937 4.72%
    $50k-75k 695 $127,165,000 $182,971 $2,519 4.39%
    $75k-100k 651 $136,945,000 $210,361 $2,617 4.59%
    $50k or less 358 $78,790,000 $220,084 $2,337 4.20%

    Firstbank lent most frequently to those with incomes in the $250k+ range, with 1,575 originations. The second most popular income band? $150k-250k, with 1,424 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 1,184 $548,560,000 $463,311 $4,593 4.64%
    20-30% 1,126 $328,780,000 $291,989 $3,411 4.57%
    30-36% 880 $281,890,000 $320,330 $3,293 4.56%
    >60% 855 $492,575,000 $576,111 $5,579 4.59%
    <20% 545 $201,945,000 $370,541 $3,845 4.32%
    42% 203 $75,285,000 $370,862 $3,530 4.52%
    45% 202 $64,880,000 $321,188 $3,346 4.62%
    49% 197 $56,565,000 $287,132 $3,362 4.60%
    46% 197 $74,955,000 $380,482 $4,243 4.57%
    44% 186 $50,110,000 $269,409 $3,399 4.49%
    40% 179 $49,625,000 $277,235 $2,871 4.50%
    48% 168 $55,670,000 $331,369 $3,978 4.56%
    47% 164 $48,860,000 $297,927 $3,464 4.65%
    38% 158 $51,220,000 $324,177 $3,172 4.32%
    43% 152 $51,050,000 $335,855 $3,806 4.38%
    41% 151 $43,835,000 $290,298 $2,734 4.60%
    39% 150 $46,630,000 $310,867 $2,929 4.53%
    37% 147 $47,025,000 $319,898 $3,512 4.35%
    36% 142 $43,690,000 $307,676 $4,063 4.44%

    Firstbank lent most frequently to those with DTI ratios of 50-60%, with 1,184 originations. The next most common DTI ratio? 20-30%, with 1,126 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 1,657 $1,649,515,000 $995,483 $5,660 4.48%
    White 4,343 $1,467,395,000 $337,876 $3,698 4.60%
    Not provided 1,007 $377,085,000 $374,464 $3,973 4.56%
    Asian 296 $114,150,000 $385,642 $3,766 4.43%
    Black 150 $41,650,000 $277,667 $3,299 4.31%
    Asian Indian 21 $9,385,000 $446,905 $10,226 4.54%
    American Indian 40 $9,020,000 $225,500 $2,750 4.58%
    Other Asian 15 $5,225,000 $348,333 $5,387 4.89%
    Chinese 15 $4,365,000 $291,000 $3,400 4.34%
    Korean 7 $3,335,000 $476,429 $4,717 3.88%
    Native Hawaiian or Islander 6 $2,720,000 $453,333 $7,027 5.10%
    Other Pacific Islander 3 $1,455,000 $485,000 $2,805 5.54%
    Vietnamese 4 $820,000 $205,000 $3,331 4.03%
    Filipino 3 $575,000 $191,667 $0 4.63%
    Japanese 1 $555,000 $555,000 $4,708 4.00%
    Native Hawaiian 1 $335,000 $335,000 $2,795 4.75%
    Guamanian 1 $25,000 $25,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    91.81%

    Firstbank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.00%

    Firstbank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 7,570 $3,687,610,000 $487,135

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    7,570 $3,687,610,000 $487,135

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,211 $395,675,000 $326,734 $3,218 4.59%
    40-60% 948 $742,270,000 $782,985 $5,099 4.29%
    60-80% 2,266 $1,844,130,000 $813,826 $5,487 4.26%
    80-100% 689 $431,715,000 $626,582 $4,788 4.28%
    Over 100% 2 $25,160,000 $12,580,000 $0 3.84%
    Under 20% 2,454 $248,660,000 $101,328 $449 4.99%

    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%