First United Bank Mortgage Rates, Fees & Info

Dimmitt, TX

LEI: 549300DDDXGC8OXLNZ36

Tax ID: 75-0270800

4.4 stars - Updated: 2/25/24 - out of 5 stars, based on 23 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

First United Bank is a smaller bank specializing in Home Purchase loans. First United Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Lubbock, Amarillo, Edwards, Wichita Falls, and Dallas among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)

First United 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 United Bank 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.77% 2/25/24
30 Year Conventional Refi 6.62% 2/25/24
30 Year Cash-out Refi 6.98% 2/25/24
30 Year FHA Purchase 7.41% 2/25/24
30 Year FHA Refi 6.27% 2/25/24
30 Year VA Purchase 6.27% 2/25/24
15 Year Conventional Purchase 6.33% 2/25/24
15 Year Conventional Refi 6.13% 2/25/24
15 Year Cash-out Refi 6.13% 2/25/24
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.

First United Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from First United Bank. 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

512

Origination Dollar Volume (All Markets)

$129,850,000
Show all (6) awards

Relative Rate

First United Bank's average 30 year fixed mortgage rate was 4.94%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.18%.

Relative Fees (Closing Costs)

First United Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,556.

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 $4,750.

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
LUBBOCK, TX (FHA|USDA|VA) 191 $43,885,000 $229,764 $6,612 5.33%
AMARILLO, TX (FHA|USDA|VA) 147 $43,445,000 $295,544 $6,594 5.05%
Outside of Metro Areas 88 $13,860,000 $157,500 $5,827 5.24%
Edwards, CO (FHA|USDA|VA) 1 $5,005,000 $5,005,000 $0 4.20%
WICHITA FALLS, TX (FHA|USDA|VA) 26 $4,440,000 $170,769 $6,844 5.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 13 $3,715,000 $285,769 $6,950 5.26%
Mineral Wells, TX (FHA|USDA|VA) 3 $3,185,000 $1,061,667 $0 5.32%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,805,000 $1,805,000 $0 5.50%
Lamesa, TX (FHA|USDA|VA) 7 $985,000 $140,714 $7,042 5.68%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $800,000 $400,000 $7,894 5.13%
SANTA FE, NM (FHA|USDA|VA) 1 $705,000 $705,000 $5,958 4.88%
COLUMBUS, OH (FHA|USDA|VA) 2 $690,000 $345,000 $8,398 5.25%
MIDLAND, TX (FHA|USDA|VA) 3 $605,000 $201,667 $5,627 4.66%
Hereford, TX (FHA|USDA|VA) 3 $585,000 $195,000 $7,729 5.71%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $555,000 $555,000 $0 8.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $510,000 $255,000 $5,533 3.44%
Bonham, TX (FHA|USDA|VA) 1 $485,000 $485,000 $5,684 5.88%
Taos, NM (FHA|USDA|VA) 1 $405,000 $405,000 $0 6.75%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $405,000 $405,000 $4,140 3.25%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $405,000 $405,000 $0 6.25%
Borger, TX (FHA|USDA|VA) 3 $375,000 $125,000 $5,571 5.21%
Newport, TN (FHA|USDA|VA) 1 $375,000 $375,000 $0 6.50%
WACO, TX (FHA|USDA|VA) 2 $360,000 $180,000 $4,977 5.19%
Levelland, TX (FHA|USDA|VA) 1 $315,000 $315,000 $4,545 3.25%
SAN ANGELO, TX (FHA|USDA|VA) 1 $305,000 $305,000 $3,531 4.50%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $265,000 $265,000 $7,459 4.13%
Ruidoso, NM (FHA|USDA|VA) 1 $265,000 $265,000 $2,832 3.88%
ODESSA, TX (FHA|USDA|VA) 1 $255,000 $255,000 $8,615 3.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,769 5.38%
ABILENE, TX (FHA|USDA|VA) 1 $165,000 $165,000 $4,884 5.75%
Pampa, TX (FHA|USDA|VA) 1 $165,000 $165,000 $6,421 5.25%
Snyder, TX (FHA|USDA|VA) 1 $165,000 $165,000 $10,396 5.75%
Plainview, TX (FHA|USDA|VA) 1 $85,000 $85,000 $4,237 4.25%
Clovis, NM (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.50%
First United Bank's top markets include Lubbock, Amarillo, Edwards, Wichita Falls, and Dallas among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Similar Lenders

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

    TEXOMA COMMUNITY CREDIT UNION
    Similarity Rank: 95
    AAXY L.L.C.
    Similarity Rank: 360
    AMARILLO COMMUNITY
    Similarity Rank: 366
    Access Community Credit Union
    Similarity Rank: 525
    Education Credit Union
    Similarity Rank: 528
    U S WIDE FINANCIAL LLC
    Similarity Rank: 528
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 968
    Credence Funding Corporation
    Similarity Rank: 1027
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1170
    Southwest Bank
    Similarity Rank: 1190

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 429 $110,035,000 $256,492 $5,812 5.26%
    FHA 68 $14,120,000 $207,647 $8,679 4.97%
    VA 15 $5,695,000 $379,667 $7,618 4.43%

    For 2022, First United Bank's most frequently originated type of loan was Conventional, with 429 originations. Their 2nd most popular type was FHA, with 68 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 421 $100,695,000 $239,181 $6,602 5.27%
    Refi 57 $22,405,000 $393,070 $4,965 4.86%
    Cash Out Refi 30 $6,620,000 $220,667 $6,380 4.74%
    Home Improvement 4 $130,000 $32,500 $0 6.56%

    For 2022, First United Bank's most frequently cited loan purpose was Home Purchase, with 421 originations. The 2nd most popular reason was Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 307 $77,185,000 $251,417 $6,556 4.94%
    5 Year 60 $12,090,000 $201,500 $0 5.80%
    15 Year 45 $8,875,000 $197,222 $5,947 4.73%
    Other 42 $7,160,000 $170,476 $5,179 6.15%
    3 Year 27 $5,365,000 $198,704 $4,340 6.08%
    20 Year 18 $6,920,000 $384,444 $5,046 5.42%
    1 Year 7 $8,505,000 $1,215,000 $0 5.89%
    10 Year 6 $3,750,000 $625,000 $6,152 4.23%

    For 2022, First United Bank's most frequently cited loan duration was 30 Year, with 307 originations. The 2nd most popular length was 5 Year, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 119 $25,905,000 $217,689
    $<1k 107 $27,215,000 $254,346
    $2k-3k 44 $10,950,000 $248,864
    $3k-4k 39 $10,465,000 $268,333
    $5k+ 34 $11,480,000 $337,647
    $4k-5k 19 $4,035,000 $212,368

    First United Bank's average total fees were $6,556, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 119 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 167 $41,145,000 $246,377
    4-5% 128 $36,380,000 $284,219
    3-4% 90 $25,100,000 $278,889
    6-7% 68 $16,070,000 $236,324
    7-8% 34 $6,100,000 $179,412
    2.5-3% 11 $2,465,000 $224,091
    Over 8% 8 $740,000 $92,500
    <2.5% 6 $1,850,000 $308,333

    During 2022, First United Bank's average interest rate for loans was 4.94%, while their most frequently originated rate bucket for loans was 5-6%, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 187 $50,125,000 $268,048 $6,802 4.97%
    $100k-200k 182 $27,940,000 $153,516 $5,557 5.27%
    $100,000 or less 75 $4,745,000 $63,267 $4,669 5.85%
    $400k-600k 47 $22,375,000 $476,064 $8,606 4.97%
    $600k-1MM 14 $9,920,000 $708,571 $6,749 4.80%
    $1MM+ 7 $14,745,000 $2,106,429 $0 5.12%

    2022 saw First United Bank place emphasis on $200k-400k loans with 187 originations, totaling $50,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 100 $25,550,000 $255,500 $6,772 4.92%
    $50k-75k 86 $15,700,000 $182,558 $5,966 5.06%
    $150k-250k 72 $23,150,000 $321,528 $6,685 5.04%
    $75k-100k 65 $13,625,000 $209,615 $6,372 4.94%
    $250k+ 50 $13,420,000 $268,400 $7,896 5.31%
    $50k or less 32 $4,250,000 $132,813 $4,342 5.08%

    First United Bank lent most frequently to those with incomes in the $100k-150k range, with 100 originations. The second most popular income band? $50k-75k, with 86 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 62 $14,830,000 $239,194 $5,890 4.75%
    30-36% 53 $13,155,000 $248,208 $6,283 4.65%
    39% 23 $5,305,000 $230,652 $6,453 4.89%
    50-60% 23 $5,035,000 $218,913 $9,692 5.09%
    43% 22 $5,060,000 $230,000 $6,128 4.70%
    44% 22 $5,890,000 $267,727 $6,796 5.13%
    42% 19 $4,505,000 $237,105 $6,070 4.77%
    38% 18 $4,510,000 $250,556 $6,830 5.06%
    <20% 16 $3,890,000 $243,125 $6,544 4.60%
    41% 15 $4,285,000 $285,667 $7,083 5.42%
    45% 15 $5,015,000 $334,333 $5,729 5.04%
    49% 15 $4,365,000 $291,000 $6,266 5.24%
    36% 13 $3,225,000 $248,077 $6,909 4.65%
    48% 11 $2,675,000 $243,182 $5,083 4.47%
    47% 10 $2,760,000 $276,000 $6,320 5.01%
    37% 10 $2,050,000 $205,000 $5,262 4.91%
    40% 9 $2,145,000 $238,333 $5,007 5.15%
    46% 5 $1,065,000 $213,000 $6,127 5.20%
    >60% 1 $285,000 $285,000 $5,881 4.75%

    First United Bank lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? 30-36%, with 53 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 363 $83,855,000 $231,006 $6,349 5.05%
    Not applicable 104 $34,020,000 $327,115 $0 5.78%
    Not provided 22 $5,550,000 $252,273 $6,929 5.05%
    Asian 10 $2,890,000 $289,000 $8,004 5.60%
    Black 8 $2,460,000 $307,500 $6,963 4.95%
    American Indian 5 $1,075,000 $215,000 $5,355 4.20%

    Approval Rates

    Total approvals of all applications
    95.17%

    First United 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 origination
    88.48%

    First United Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 512 $129,850,000 $253,613

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    512 $129,850,000 $253,613

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $3,380,000 $130,000 $5,492 5.55%
    40-60% 46 $9,620,000 $209,130 $5,615 5.18%
    60-80% 198 $56,550,000 $285,606 $5,815 5.30%
    80-100% 236 $58,720,000 $248,814 $6,813 5.06%
    Over 100% 1 $165,000 $165,000 $10,396 5.75%
    Under 20% 5 $1,415,000 $283,000 $12,317 6.15%

    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%