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 Home Purchase loans. First American State Bank has a high proportion of conventional loans. Their top two markets are Denver and Colorado Springs .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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.40% | 4/5/25 |
| 30 Year Conventional Refi | 7.56% | 4/5/25 |
| 15 Year Conventional Refi | 7.74% | 4/5/25 |
| 15 Year Cash-out Refi | 7.74% | 4/5/25 |
| 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 American State Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from First American State Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
11Origination Dollar Volume (All Markets)
$6,435,000Relative Rate
First American State Bank's average 30 year fixed mortgage rate was
7.42%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.87%.
Relative Fees (Closing Costs)
First American State Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,840.
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 $8,356.
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) | 10 | $5,470,000 | $547,000 | $6,153 | 7.44% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $0 | 6.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 11 | $6,435,000 | $585,000 | $6,153 | 7.38% |
For 2024, First American State Bank's most frequently originated type of loan was Conventional, with 11 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 8 | $5,710,000 | $713,750 | $7,875 | 7.29% |
| Refi | 3 | $725,000 | $241,667 | $2,710 | 7.62% |
For 2024, First American State Bank's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 9 | $5,405,000 | $600,556 | $6,840 | 7.42% |
| 10 Year | 1 | $965,000 | $965,000 | $0 | 6.75% |
| 15 Year | 1 | $65,000 | $65,000 | $660 | 7.63% |
For 2024, First American State Bank's most frequently cited loan duration was 30 Year, with 9 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
First American State Bank's average total fees were $6,840, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 7 | $3,865,000 | $552,143 |
| 6-7% | 3 | $2,385,000 | $795,000 |
| Over 8% | 1 | $185,000 | $185,000 |
During 2024, First American State Bank's average interest rate for loans was 7.42%, while their most frequently originated rate bucket for loans was 7-8%, with 7 originations.
Loan Sizing
2024 saw First American State Bank place emphasis on $200k-400k loans with 4 originations, totaling $1,100,000 in origination value.
Applicant Income
First American State Bank lent most frequently to those with incomes in the $250k+ range, with 5 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
First American State Bank lent most frequently to those with DTI ratios of <20%, with 2 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
First American State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination72.73%
First American State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 11 | $6,435,000 | $585,000 |