First United Bank Mortgage Rates, Fees & Info

Dimmitt, TX

LEI: 549300DDDXGC8OXLNZ36

Tax ID: 75-0270800

5 stars - Updated: 7/11/24 - out of 5 stars, based on 19 reviews

Latest/2023 | 2022 Data | 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 and Refi 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: Amarillo, Lubbock, Odessa, Midland, and Wichita Falls 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 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.

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% 7/11/24
30 Year Conventional Refi 6.62% 7/11/24
30 Year Cash-out Refi 6.98% 7/11/24
30 Year FHA Purchase 7.41% 7/11/24
30 Year FHA Refi 6.27% 7/11/24
30 Year VA Purchase 6.27% 7/11/24
15 Year Conventional Purchase 6.33% 7/11/24
15 Year Conventional Refi 6.13% 7/11/24
15 Year Cash-out Refi 6.13% 7/11/24
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

357

Origination Dollar Volume (All Markets)

$105,465,000

Awards

First United Bank 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

First United Bank's average 30 year fixed mortgage rate was 6.72%.

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

This yields a difference of 0.24%.

Relative Fees (Closing Costs)

First United Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,618.

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
AMARILLO, TX (FHA|USDA|VA) 133 $36,495,000 $274,398 $6,601 7.27%
LUBBOCK, TX (FHA|USDA|VA) 90 $21,130,000 $234,778 $6,374 7.01%
Outside of Metro Areas 58 $9,570,000 $165,000 $5,220 7.45%
ODESSA, TX (FHA|USDA|VA) 2 $6,800,000 $3,400,000 $23,793 7.25%
MIDLAND, TX (FHA|USDA|VA) 3 $5,795,000 $1,931,667 $8,036 7.79%
WICHITA FALLS, TX (FHA|USDA|VA) 10 $3,540,000 $354,000 $6,741 7.36%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $3,405,000 $3,405,000 $0 7.15%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 9 $2,425,000 $269,444 $7,724 7.57%
Ruidoso, NM (FHA|USDA|VA) 3 $2,085,000 $695,000 $5,194 8.08%
Mineral Wells, TX (FHA|USDA|VA) 2 $1,760,000 $880,000 $15,893 7.69%
Breckenridge, CO (FHA|USDA|VA) 1 $1,715,000 $1,715,000 $0 8.75%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 6 $1,540,000 $256,667 $6,459 8.12%
SANTA FE, NM (FHA|USDA|VA) 2 $1,260,000 $630,000 $9,017 7.75%
Hereford, TX (FHA|USDA|VA) 2 $880,000 $440,000 $8,483 7.88%
Dumas, TX (FHA|USDA|VA) 4 $750,000 $187,500 $7,554 7.44%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $715,000 $238,333 $6,139 7.62%
Lamesa, TX (FHA|USDA|VA) 4 $570,000 $142,500 $6,412 7.78%
Granbury, TX (FHA|USDA|VA) 1 $505,000 $505,000 $11,765 6.99%
Borger, TX (FHA|USDA|VA) 3 $495,000 $165,000 $5,780 6.08%
Kalispell, MT (FHA|USDA|VA) 1 $465,000 $465,000 $0 8.75%
Stephenville, TX (FHA|USDA|VA) 2 $440,000 $220,000 $6,604 6.75%
Pampa, TX (FHA|USDA|VA) 2 $380,000 $190,000 $6,375 6.44%
Big Spring, TX (FHA|USDA|VA) 1 $335,000 $335,000 $12,355 7.13%
SYRACUSE, NY (FHA|USDA|VA) 1 $335,000 $335,000 $4,313 6.50%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $325,000 $325,000 $12,567 6.25%
ABILENE, TX (FHA|USDA|VA) 2 $320,000 $160,000 $8,037 6.75%
GREEN BAY, WI (FHA|USDA|VA) 1 $305,000 $305,000 $8,272 6.25%
ST. CLOUD, MN (FHA|USDA|VA) 1 $295,000 $295,000 $4,416 7.25%
Carlsbad-Artesia, NM (FHA|USDA|VA) 1 $275,000 $275,000 $10,712 6.50%
Plainview, TX (FHA|USDA|VA) 3 $205,000 $68,333 $5,540 8.46%
Vernon, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.75%
KNOXVILLE, TN (FHA|USDA|VA) 1 $105,000 $105,000 $3,416 5.75%
Snyder, TX (FHA|USDA|VA) 1 $95,000 $95,000 $5,171 6.99%
Levelland, TX (FHA|USDA|VA) 1 $25,000 $25,000 $0 9.75%
First United Bank's top markets include Amarillo, Lubbock, Odessa, Midland, and Wichita Falls among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Montana (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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 301 $92,885,000 $308,588 $5,881 7.40%
    FHA 47 $9,955,000 $211,809 $9,222 6.60%
    VA 9 $2,625,000 $291,667 $8,448 6.65%

    For 2023, First United Bank's most frequently originated type of loan was Conventional, with 301 originations. Their 2nd most popular type was FHA, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 288 $71,860,000 $249,514 $6,544 7.24%
    Refi 45 $29,355,000 $652,333 $6,847 7.54%
    Cash Out Refi 20 $4,100,000 $205,000 $6,346 6.80%
    Home Improvement 4 $150,000 $37,500 $1,850 9.38%

    For 2023, First United Bank's most frequently cited loan purpose was Home Purchase, with 288 originations. The 2nd most popular reason was Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 251 $64,555,000 $257,191 $6,618 6.72%
    5 Year 29 $22,365,000 $771,207 $1,538 8.77%
    3 Year 25 $6,505,000 $260,200 $0 9.18%
    Other 19 $4,505,000 $237,105 $1,970 8.96%
    15 Year 17 $3,355,000 $197,353 $6,199 7.70%
    20 Year 9 $2,555,000 $283,889 $7,782 7.35%
    1 Year 5 $1,365,000 $273,000 $0 9.25%
    10 Year 2 $260,000 $130,000 $2,571 6.69%

    For 2023, First United Bank's most frequently cited loan duration was 30 Year, with 251 originations. The 2nd most popular length was 5 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 83 $17,535,000 $211,265
    $<1k 67 $15,315,000 $228,582
    $2k-3k 48 $10,110,000 $210,625
    $3k-4k 36 $10,620,000 $295,000
    $4k-5k 19 $7,025,000 $369,737
    $5k+ 17 $8,245,000 $485,000

    First United Bank's average total fees were $6,618, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 83 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 149 $34,815,000 $233,658
    Over 8% 90 $33,980,000 $377,556
    7-8% 74 $28,110,000 $379,865
    5-6% 44 $8,560,000 $194,545

    During 2023, First United Bank's average interest rate for loans was 6.72%, while their most frequently originated rate bucket for loans was 6-7%, with 149 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 130 $19,540,000 $150,308 $5,517 7.23%
    $200k-400k 130 $35,010,000 $269,308 $7,224 6.97%
    $100,000 or less 46 $3,110,000 $67,609 $3,851 7.96%
    $400k-600k 24 $11,390,000 $474,583 $8,983 7.62%
    $600k-1MM 18 $12,820,000 $712,222 $7,968 7.37%
    $1MM+ 9 $23,595,000 $2,621,667 $13,680 7.91%

    2023 saw First United Bank place emphasis on $100k-200k loans with 130 originations, totaling $19,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 75 $20,255,000 $270,067 $7,009 6.90%
    $50k-75k 61 $9,985,000 $163,689 $5,761 6.65%
    $75k-100k 48 $9,830,000 $204,792 $6,724 6.76%
    $250k+ 45 $21,345,000 $474,333 $7,574 7.21%
    $150k-250k 40 $11,610,000 $290,250 $6,381 7.08%
    $50k or less 23 $6,335,000 $275,435 $4,790 7.22%

    First United Bank lent most frequently to those with incomes in the $100k-150k range, with 75 originations. The second most popular income band? $50k-75k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 41 $10,965,000 $267,439 $6,033 6.82%
    20-30% 35 $8,665,000 $247,571 $5,868 6.87%
    50-60% 18 $4,920,000 $273,333 $8,677 6.61%
    <20% 17 $3,885,000 $228,529 $5,272 6.57%
    39% 17 $5,305,000 $312,059 $6,479 6.81%
    44% 17 $4,205,000 $247,353 $6,686 6.88%
    49% 15 $4,485,000 $299,000 $7,094 6.86%
    43% 13 $4,145,000 $318,846 $9,668 6.78%
    46% 13 $2,765,000 $212,692 $6,334 6.39%
    48% 12 $2,230,000 $185,833 $5,720 6.58%
    45% 11 $2,595,000 $235,909 $5,708 6.84%
    40% 11 $3,115,000 $283,182 $7,185 6.72%
    47% 11 $2,275,000 $206,818 $5,617 6.73%
    42% 10 $2,060,000 $206,000 $6,389 6.64%
    37% 9 $1,905,000 $211,667 $5,327 6.55%
    36% 9 $2,435,000 $270,556 $7,366 6.44%
    38% 7 $1,395,000 $199,286 $7,213 6.82%
    41% 4 $1,500,000 $375,000 $7,579 6.59%

    First United Bank lent most frequently to those with DTI ratios of 30-36%, with 41 originations. The next most common DTI ratio? 20-30%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 261 $70,775,000 $271,169 $6,600 6.96%
    Not applicable 62 $25,920,000 $418,065 $0 8.83%
    Not provided 20 $4,320,000 $216,000 $5,526 6.92%
    Asian 8 $3,250,000 $406,250 $7,510 6.62%
    American Indian 5 $905,000 $181,000 $6,628 6.60%
    Black 1 $295,000 $295,000 $0 9.25%

    Approval Rates

    Total approvals of all applications
    97.56%

    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
    88.24%

    First United Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 357 $105,465,000 $295,420

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    357 $105,465,000 $295,420

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $3,995,000 $235,000 $5,702 7.56%
    40-60% 48 $28,060,000 $584,583 $5,427 7.21%
    60-80% 150 $37,430,000 $249,533 $6,237 7.68%
    80-100% 139 $35,425,000 $254,856 $7,039 6.82%
    Over 100% 1 $445,000 $445,000 $23,793 6.25%
    Under 20% 2 $110,000 $55,000 $1,850 8.75%