First American State Bank Mortgage Rates, Fees & Info
Greenwood Village, COLEI: 549300AC46WDQ7G4M335
Tax ID: 84-1301731
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Mortgage Data
Review & Overview
First American State Bank is a smaller bank specializing in Refi and Home Purchase loans. First American State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Colorado Springs, Edwards, Fort Collins, and Grand Junction among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)First American State 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. First American State Bank 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.
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Originations
25Origination Dollar Volume (All Markets)
$8,965,000Relative Rate
First American State Bank's average 30 year fixed mortgage rate was
7.12%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.64%.
Relative Fees (Closing Costs)
First American State Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,110.
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 $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) | 18 | $6,740,000 | $374,444 | $4,075 | 7.23% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $3,678 | 7.12% |
| Edwards, CO (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $5,806 | 6.85% |
| Outside of Metro Areas | 1 | $395,000 | $395,000 | $0 | 6.75% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,414 | 7.32% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $510 | 8.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against First American State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 300
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Similarity Rank: 1900
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $8,965,000 | $358,600 | $3,933 | 7.23% |
For 2023, First American State Bank's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 15 | $3,815,000 | $254,333 | $2,989 | 7.47% |
| Home Purchase | 10 | $5,150,000 | $515,000 | $4,982 | 6.88% |
For 2023, First American State Bank's most frequently cited loan purpose was Refi, with 15 originations. The 2nd most popular reason was Home Purchase, with 10 originations.
Loan Duration/Length
For 2023, First American State Bank's most frequently cited loan duration was 30 Year, with 19 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
First American State Bank's average total fees were $4,110, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 12 | $5,470,000 | $455,833 |
| 7-8% | 8 | $2,610,000 | $326,250 |
| Over 8% | 4 | $340,000 | $85,000 |
| 5-6% | 1 | $545,000 | $545,000 |
During 2023, First American State Bank's average interest rate for loans was 7.12%, while their most frequently originated rate bucket for loans was 6-7%, with 12 originations.
Loan Sizing
2023 saw First American State Bank place emphasis on $200k-400k loans with 11 originations, totaling $3,355,000 in origination value.
Applicant Income
First American State Bank lent most frequently to those with incomes in the $250k+ range, with 7 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
First American State Bank lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? <20%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.32%
First American State Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.00%
First American State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $8,965,000 | $358,600 |