The First National Bank Of Fort Smith Mortgage Rates, Fees & Info

Fort Smith, AR

LEI: 549300BREPLU2KKPI102

Tax ID: 71-0058845

5 stars - Updated: 4/18/24 - out of 5 stars, based on 21 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

    The First National Bank Of Fort Smith is a smaller bank specializing in Home Purchase loans. The First National Bank Of Fort Smith 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: Fayetteville, Fort Smith, Little Rock, Tahlequah, and Muskogee among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The First National Bank Of Fort Smith 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. The First National Bank Of Fort Smith 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.59% 4/18/24
    30 Year Conventional Refi 6.82% 4/18/24
    30 Year Cash-out Refi 6.67% 4/18/24
    30 Year FHA Purchase 6.95% 4/18/24
    30 Year FHA Refi 6.27% 4/18/24
    30 Year VA Purchase 6.27% 4/18/24
    30 Year VA Refi 6.27% 4/18/24
    30 Year USDA Purchase 6.27% 4/18/24
    15 Year Conventional Purchase 6.11% 4/18/24
    15 Year Conventional Refi 6.19% 4/18/24
    15 Year Cash-out Refi 6.19% 4/18/24
    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.

    The First National Bank Of Fort Smith Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The First National Bank Of Fort Smith. 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

    455

    Origination Dollar Volume (All Markets)

    $164,125,000
    Show all (7) awards

    Relative Rate

    The First National Bank Of Fort Smith's average 30 year fixed mortgage rate was 6.69%.

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

    This yields a difference of 0.21%.

    Relative Fees (Closing Costs)

    The First National Bank Of Fort Smith's average total fees/closing costs for a 30 year fixed rate mortgage were $3,788.

    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
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 161 $111,375,000 $691,770 $3,771 7.02%
    FORT SMITH, AR-OK (FHA|USDA|VA) 159 $25,615,000 $161,101 $2,891 7.55%
    Outside of Metro Areas 74 $12,030,000 $162,568 $3,004 7.46%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 41 $10,715,000 $261,341 $4,282 6.84%
    Tahlequah, OK (FHA|USDA|VA) 4 $800,000 $200,000 $4,376 7.69%
    Muskogee, OK (FHA|USDA|VA) 2 $570,000 $285,000 $1,337 6.39%
    HOT SPRINGS, AR (FHA|USDA|VA) 3 $545,000 $181,667 $2,983 6.83%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $535,000 $535,000 $6,230 6.25%
    Harrison, AR (FHA|USDA|VA) 2 $450,000 $225,000 $3,067 7.06%
    Batesville, AR (FHA|USDA|VA) 1 $365,000 $365,000 $2,812 6.50%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,309 6.62%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,644 6.88%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,390 8.50%
    Bartlesville, OK (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.60%
    Russellville, AR (FHA|USDA|VA) 1 $115,000 $115,000 $1,682 6.75%
    McAlester, OK (FHA|USDA|VA) 1 $85,000 $85,000 $3,076 6.50%
    El Dorado, AR (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.25%
    The First National Bank Of Fort Smith's top markets include Fayetteville, Fort Smith, Little Rock, Tahlequah, and Muskogee among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

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

    United Bank
    Similarity Rank: 230
    The Bank of Missouri
    Similarity Rank: 288
    Priority Bank
    Similarity Rank: 555
    First Security Bank
    Similarity Rank: 663
    Signature Bank of Arkansas
    Similarity Rank: 830
    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 850
    Generations Bank
    Similarity Rank: 868
    The First National Bank of Fort Smith
    Similarity Rank: 1666
    Firstar Bank
    Similarity Rank: 2050
    PENTAGON FEDERAL CREDIT UNION
    Similarity Rank: 2484

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 431 $158,635,000 $368,063 $3,138 7.30%
    FHA 24 $5,490,000 $228,750 $7,039 6.55%

    For 2023, The First National Bank Of Fort Smith's most frequently originated type of loan was Conventional, with 431 originations. Their 2nd most popular type was FHA, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 351 $153,135,000 $436,282 $3,803 7.13%
    Refi 49 $6,035,000 $123,163 $2,199 7.75%
    Home Improvement 33 $2,905,000 $88,030 $1,602 7.88%
    Other 20 $1,500,000 $75,000 $1,772 7.47%
    Cash Out Refi 2 $550,000 $275,000 $4,830 6.37%

    For 2023, The First National Bank Of Fort Smith's most frequently cited loan purpose was Home Purchase, with 351 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 253 $65,745,000 $259,862 $3,788 6.69%
    5 Year 78 $52,180,000 $668,974 $1,330 7.93%
    3 Year 42 $27,990,000 $666,429 $0 8.10%
    1 Year 24 $5,400,000 $225,000 $3,104 8.37%
    Other 20 $8,100,000 $405,000 $3,382 8.10%
    15 Year 20 $2,820,000 $141,000 $3,754 7.45%
    20 Year 13 $1,625,000 $125,000 $2,948 8.07%
    10 Year 5 $265,000 $53,000 $2,765 7.55%

    For 2023, The First National Bank Of Fort Smith's most frequently cited loan duration was 30 Year, with 253 originations. The 2nd most popular length was 5 Year, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 172 $35,900,000 $208,721
    $1k-2k 77 $14,135,000 $183,571
    $2k-3k 39 $12,185,000 $312,436
    $3k-4k 13 $4,595,000 $353,462
    $5k+ 9 $3,145,000 $349,444
    $4k-5k 8 $3,120,000 $390,000

    The First National Bank Of Fort Smith's average total fees were $3,788, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 172 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 181 $55,965,000 $309,199
    7-8% 144 $83,430,000 $579,375
    Over 8% 98 $15,650,000 $159,694
    5-6% 32 $9,080,000 $283,750

    During 2023, The First National Bank Of Fort Smith's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 6-7%, with 181 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 145 $40,625,000 $280,172 $3,883 6.93%
    $100k-200k 129 $19,685,000 $152,597 $3,379 7.26%
    $100,000 or less 119 $6,655,000 $55,924 $1,902 7.83%
    $400k-600k 46 $21,050,000 $457,609 $4,577 6.87%
    $1MM+ 8 $70,320,000 $8,790,000 $0 7.63%
    $600k-1MM 8 $5,790,000 $723,750 $4,985 7.00%

    2023 saw The First National Bank Of Fort Smith place emphasis on $200k-400k loans with 145 originations, totaling $40,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 89 $23,895,000 $268,483 $3,666 6.95%
    $50k-75k 66 $11,000,000 $166,667 $3,593 6.82%
    $75k-100k 58 $11,950,000 $206,034 $3,499 7.02%
    $50k or less 48 $4,660,000 $97,083 $2,744 6.96%
    $150k-250k 41 $12,515,000 $305,244 $3,461 6.92%
    $250k+ 25 $9,375,000 $375,000 $3,645 6.86%

    The First National Bank Of Fort Smith lent most frequently to those with incomes in the $100k-150k range, with 89 originations. The second most popular income band? $50k-75k, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 74 $14,620,000 $197,568 $3,031 6.99%
    30-36% 62 $13,190,000 $212,742 $3,535 6.97%
    <20% 27 $4,935,000 $182,778 $2,716 6.94%
    41% 20 $4,840,000 $242,000 $3,359 6.63%
    44% 18 $5,300,000 $294,444 $3,931 6.94%
    37% 16 $3,020,000 $188,750 $2,928 6.93%
    38% 14 $3,280,000 $234,286 $2,896 7.06%
    43% 13 $2,975,000 $228,846 $2,756 7.03%
    45% 11 $2,695,000 $245,000 $4,698 6.74%
    42% 10 $3,190,000 $319,000 $3,675 6.51%
    50-60% 10 $2,480,000 $248,000 $4,310 7.12%
    40% 9 $2,835,000 $315,000 $3,893 7.00%
    36% 8 $1,260,000 $157,500 $3,727 6.77%
    39% 8 $1,700,000 $212,500 $2,927 6.82%
    47% 7 $1,615,000 $230,714 $5,148 6.80%
    48% 7 $1,785,000 $255,000 $5,652 6.42%
    46% 7 $2,055,000 $293,571 $2,597 6.52%
    49% 6 $2,120,000 $353,333 $5,423 6.58%
    >60% 1 $185,000 $185,000 $2,530 6.50%

    The First National Bank Of Fort Smith lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 66 $83,100,000 $1,259,091 $0 8.00%
    White 316 $64,200,000 $203,165 $3,306 7.12%
    Not provided 21 $5,145,000 $245,000 $4,240 7.15%
    Asian 17 $5,045,000 $296,765 $4,671 7.00%
    American Indian 29 $4,895,000 $168,793 $3,498 7.56%
    Black 4 $1,310,000 $327,500 $2,550 6.34%
    Asian Indian 1 $415,000 $415,000 $9,928 6.25%
    Vietnamese 1 $15,000 $15,000 $557 8.50%

    Approval Rates

    Total approvals of all applications
    92.41%

    The First National Bank Of Fort Smith has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.92%

    The First National Bank Of Fort Smith has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 455 $164,125,000 $360,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    455 $164,125,000 $360,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 52 $6,250,000 $120,192 $2,539 7.63%
    40-60% 70 $30,760,000 $439,429 $3,619 7.18%
    60-80% 130 $77,680,000 $597,538 $3,363 7.30%
    80-100% 165 $46,905,000 $284,273 $4,076 7.01%
    Over 100% 2 $270,000 $135,000 $3,244 7.89%
    Under 20% 36 $2,260,000 $62,778 $1,069 7.93%