Bankfirst Financial Services Mortgage Rates, Fees & Info
Columbus, MSLEI: 549300BR7OTD25RTS027
Tax ID: 64-0202970
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Mortgage Data
Review & Overview
Bankfirst Financial Services is a smaller bank specializing in Home Purchase and Refi loans. Bankfirst Financial Services 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: Tuscaloosa, Jackson, Columbus, Hattiesburg, and Starkville among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)Bankfirst Financial Services 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. Bankfirst Financial Services 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.81% | 4/28/24 |
| 30 Year Conventional Purchase | 6.54% | 4/28/24 |
| 30 Year Conventional Refi | 6.42% | 4/28/24 |
| 30 Year Cash-out Refi | 6.83% | 4/28/24 |
| 30 Year FHA Purchase | 7.00% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 5.86% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.20% | 4/28/24 |
| 15 Year Conventional Refi | 6.94% | 4/28/24 |
| 15 Year Cash-out Refi | 6.94% | 4/28/24 |
| 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. | ||
Bankfirst Financial Services Mortgage Calculator
Your Estimates
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This is not an official calculator from Bankfirst Financial Services. 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
1,007Origination Dollar Volume (All Markets)
$223,485,000Top 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 |
|---|---|---|---|---|---|
| TUSCALOOSA, AL (FHA|USDA|VA) | 216 | $54,570,000 | $252,639 | $5,234 | 4.71% |
| JACKSON, MS (FHA|USDA|VA) | 137 | $37,425,000 | $273,175 | $4,551 | 4.54% |
| Columbus, MS (FHA|USDA|VA) | 131 | $23,085,000 | $176,221 | $7,273 | 4.83% |
| HATTIESBURG, MS (FHA|USDA|VA) | 69 | $22,665,000 | $328,478 | $4,413 | 4.74% |
| Outside of Metro Areas | 201 | $16,485,000 | $82,015 | $5,570 | 5.31% |
| Starkville, MS (FHA|USDA|VA) | 77 | $16,075,000 | $208,766 | $8,398 | 4.46% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 13 | $9,715,000 | $747,308 | $4,482 | 5.66% |
| Oxford, MS (FHA|USDA|VA) | 20 | $8,850,000 | $442,500 | $4,629 | 4.54% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 21 | $6,845,000 | $325,952 | $7,938 | 5.30% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 9 | $4,615,000 | $512,778 | $0 | 4.58% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 5 | $4,085,000 | $817,000 | $0 | 4.01% |
| Tupelo, MS (FHA|USDA|VA) | 15 | $3,135,000 | $209,000 | $0 | 4.94% |
| Jasper, AL (FHA|USDA|VA) | 21 | $2,335,000 | $111,190 | $3,442 | 5.03% |
| Laurel, MS (FHA|USDA|VA) | 14 | $2,110,000 | $150,714 | $10,585 | 5.46% |
| West Point, MS (FHA|USDA|VA) | 20 | $2,030,000 | $101,500 | $4,945 | 5.78% |
| Meridian, MS (FHA|USDA|VA) | 9 | $1,975,000 | $219,444 | $8,261 | 5.63% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $1,870,000 | $935,000 | $0 | 3.65% |
| Cullman, AL (FHA|USDA|VA) | 12 | $1,590,000 | $132,500 | $5,167 | 4.99% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $1,155,000 | $1,155,000 | $13,660 | 4.42% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $0 | 4.58% |
| MONTGOMERY, AL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $5,532 | 5.13% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 5.63% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $6,530 | 6.14% |
| DECATUR, AL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 4.75% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 6.50% |
| Albertville, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,657 | 5.63% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.85% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 3.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against BankFirst Financial Services 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
For 2022, Bankfirst Financial Services's most frequently originated type of loan was Conventional, with 746 originations. Their 2nd most popular type was HELOC, with 243 originations.
Loan Reason
For 2022, Bankfirst Financial Services's most frequently cited loan purpose was Home Purchase, with 447 originations. The 2nd most popular reason was Refi, with 349 originations.
Loan Duration/Length
For 2022, Bankfirst Financial Services's most frequently cited loan duration was 5 Year, with 310 originations. The 2nd most popular length was 30 Year, with 258 originations.
Origination Fees/Closing Costs
Bankfirst Financial Services's average total fees were $5,550, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 209 originations.
Interest Rates
During 2022, Bankfirst Financial Services's average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 4-5%, with 247 originations.
Loan Sizing
2022 saw Bankfirst Financial Services place emphasis on $100,000 or less loans with 416 originations, totaling $20,080,000 in origination value.
Applicant Income
Bankfirst Financial Services lent most frequently to those with incomes in the $100k-150k range, with 161 originations. The second most popular income band? $50k or less, with 151 originations.
Applicant Debt to Income Ratio
Bankfirst Financial Services lent most frequently to those with DTI ratios of 20-30%, with 155 originations. The next most common DTI ratio? 30-36%, with 124 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.02%
Bankfirst Financial Services has an average approval rate.
Pick Rate
Approvals leading to origination86.79%
Bankfirst Financial Services has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,007 | $223,485,000 | $221,931 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 7 | 46.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 6.7% |