First Bank Mortgage Rates, Fees & Info
Waverly, IALEI: 549300CWJ74FF73VDL12
Tax ID: 42-0253313
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Bank is a smaller bank specializing in Home Purchase and Refi loans. First Bank has a high proportion of conventional loans. Their top markets by origination volume include: Waterloo, Davenport, Fort Dodge, Des Moines, and Phoenix among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)First Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
247Origination Dollar Volume (All Markets)
$40,045,000Top 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 |
|---|---|---|---|---|---|
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 154 | $23,370,000 | $151,753 | $0 | 0.00% |
| Outside of Metro Areas | 65 | $10,225,000 | $157,308 | $0 | 0.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $0 | 0.00% |
| Fort Dodge, IA (FHA|USDA|VA) | 10 | $1,210,000 | $121,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 247 | $40,045,000 | $162,126 | $0 | 0.00% |
For 2022, First Bank's most frequently originated type of loan was Conventional, with 247 originations.
Loan Reason
For 2022, First Bank's most frequently cited loan purpose was Home Purchase, with 145 originations. The 2nd most popular reason was Refi, with 66 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 247 | $40,045,000 | $162,126 | $0 | 0.00% |
For 2022, First Bank's most frequently cited loan duration was Other, with 247 originations.
Loan Sizing
2022 saw First Bank place emphasis on $100,000 or less loans with 104 originations, totaling $5,680,000 in origination value.
Applicant Income
First Bank lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $50k-75k, with 33 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 247 | $40,045,000 | $162,126 | $0 | 0.00% |
First Bank lent most frequently to those with DTI ratios of Exempt%, with 247 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.48%
First 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 origination95.14%
First Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 247 | $40,045,000 | $162,126 |
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% |