First United Bank Mortgage Rates, Fees & Info

Dimmitt, TX

LEI: 549300DDDXGC8OXLNZ36

Tax ID: 75-0270800

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Mortgage Data

Bank 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. They have a low ratio of USDA loans. Their top markets by origination volume include: Amarillo, Lubbock, Wichita Falls, Dallas, and Midland among others. We have data for 31 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 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 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.77% 4/21/24
30 Year Conventional Refi 6.62% 4/21/24
30 Year Cash-out Refi 6.98% 4/21/24
30 Year FHA Purchase 7.41% 4/21/24
30 Year FHA Refi 6.27% 4/21/24
30 Year VA Purchase 6.27% 4/21/24
15 Year Conventional Purchase 6.33% 4/21/24
15 Year Conventional Refi 6.13% 4/21/24
15 Year Cash-out Refi 6.13% 4/21/24
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

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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

745

Origination Dollar Volume (All Markets)

$167,415,000

Employee count

219 Show all (6) awards

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) 259 $65,195,000 $251,718 $4,318 3.25%
LUBBOCK, TX (FHA|USDA|VA) 280 $62,010,000 $221,464 $4,625 3.30%
Outside of Metro Areas 77 $12,255,000 $159,156 $4,426 3.86%
WICHITA FALLS, TX (FHA|USDA|VA) 50 $8,910,000 $178,200 $3,897 4.15%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 21 $5,845,000 $278,333 $4,221 2.80%
MIDLAND, TX (FHA|USDA|VA) 5 $1,545,000 $309,000 $5,801 3.03%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $1,095,000 $365,000 $4,145 2.92%
Taos, NM (FHA|USDA|VA) 3 $1,095,000 $365,000 $3,876 3.79%
Ruidoso, NM (FHA|USDA|VA) 4 $1,050,000 $262,500 $3,973 2.78%
Levelland, TX (FHA|USDA|VA) 5 $715,000 $143,000 $5,019 3.80%
Lamesa, TX (FHA|USDA|VA) 6 $700,000 $116,667 $4,024 4.54%
Big Spring, TX (FHA|USDA|VA) 3 $665,000 $221,667 $6,090 2.92%
Plainview, TX (FHA|USDA|VA) 4 $550,000 $137,500 $3,451 4.25%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $540,000 $270,000 $4,620 3.31%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $515,000 $515,000 $5,170 2.50%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $505,000 $505,000 $0 5.50%
ABILENE, TX (FHA|USDA|VA) 4 $430,000 $107,500 $3,660 2.84%
Kearney, NE (FHA|USDA|VA) 2 $430,000 $215,000 $2,256 2.75%
Pampa, TX (FHA|USDA|VA) 2 $420,000 $210,000 $3,713 2.87%
SANTA FE, NM (FHA|USDA|VA) 1 $415,000 $415,000 $4,667 2.50%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $335,000 $335,000 $3,691 2.75%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $330,000 $165,000 $2,651 3.63%
Mineral Wells, TX (FHA|USDA|VA) 1 $305,000 $305,000 $3,769 3.88%
LINCOLN, NE (FHA|USDA|VA) 1 $275,000 $275,000 $2,822 3.13%
Dumas, TX (FHA|USDA|VA) 1 $245,000 $245,000 $4,641 2.88%
ODESSA, TX (FHA|USDA|VA) 1 $245,000 $245,000 $5,089 3.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $215,000 $215,000 $2,900 2.75%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $195,000 $195,000 $6,843 2.88%
Rockport, TX (FHA|USDA|VA) 1 $195,000 $195,000 $4,977 2.88%
Hereford, TX (FHA|USDA|VA) 1 $115,000 $115,000 $3,099 3.38%
Corsicana, TX (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.75%
First United Bank's top markets include Amarillo, Lubbock, Wichita Falls, Dallas, and Midland among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 639 $147,285,000 $230,493 $3,937 3.44%
    FHA 84 $15,220,000 $181,190 $7,017 3.19%
    VA 16 $3,850,000 $240,625 $6,463 2.86%
    USDA 6 $1,060,000 $176,667 $5,499 2.96%

    For 2020, First United Bank's most frequently originated type of loan was Conventional, with 639 originations. Their 2nd most popular type was FHA, with 84 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 418 $84,310,000 $201,699 $4,962 3.61%
    Refi 252 $64,900,000 $257,540 $3,576 3.06%
    Cash Out Refi 69 $17,555,000 $254,420 $4,746 3.16%
    Home Improvement 6 $650,000 $108,333 $3,973 4.98%

    For 2020, First United Bank's most frequently cited loan purpose was Home Purchase, with 418 originations. The 2nd most popular reason was Refi, with 252 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 467 $107,455,000 $230,096 $4,639 3.17%
    15 Year 106 $22,650,000 $213,679 $3,843 2.83%
    5 Year 66 $16,370,000 $248,030 $0 5.14%
    20 Year 47 $11,925,000 $253,723 $3,814 3.21%
    Other 26 $3,440,000 $132,308 $3,866 4.57%
    10 Year 20 $3,620,000 $181,000 $3,723 3.69%
    3 Year 8 $1,390,000 $173,750 $0 4.75%
    1 Year 5 $565,000 $113,000 $2,592 5.15%

    For 2020, First United Bank's most frequently cited loan duration was 30 Year, with 467 originations. The 2nd most popular length was 15 Year, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 380 $85,790,000 $225,763
    $1k-2k 191 $40,855,000 $213,901
    $2k-3k 38 $9,120,000 $240,000
    $3k-4k 11 $3,815,000 $346,818
    $4k-5k 6 $2,580,000 $430,000
    $5k+ 4 $2,140,000 $535,000

    First United Bank's average total fees were $4,639, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 380 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 232 $53,740,000 $231,638
    3-4% 216 $49,160,000 $227,593
    <2.5% 132 $31,270,000 $236,894
    4-5% 101 $26,255,000 $259,950
    5-6% 58 $6,600,000 $113,793
    6-7% 5 $375,000 $75,000
    7-8% 1 $15,000 $15,000

    During 2020, First United Bank's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 232 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 299 $81,645,000 $273,060 $4,692 3.11%
    $100k-200k 272 $41,920,000 $154,118 $4,076 3.28%
    $100,000 or less 114 $7,440,000 $65,263 $3,441 4.48%
    $400k-600k 51 $23,405,000 $458,922 $5,279 3.02%
    $600k-1MM 5 $3,775,000 $755,000 $8,841 3.98%
    $1MM+ 4 $9,230,000 $2,307,500 $14,587 4.69%

    2020 saw First United Bank place emphasis on $200k-400k loans with 299 originations, totaling $81,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 166 $38,860,000 $234,096 $4,407 3.10%
    $50k-75k 132 $22,260,000 $168,636 $4,345 3.21%
    $150k-250k 114 $30,500,000 $267,544 $4,231 3.13%
    $75k-100k 104 $20,440,000 $196,538 $4,386 3.27%
    $50k or less 76 $10,220,000 $134,474 $4,366 3.54%
    $250k+ 63 $24,015,000 $381,190 $5,289 3.09%

    First United Bank lent most frequently to those with incomes in the $100k-150k range, with 166 originations. The second most popular income band? $50k-75k, with 132 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 157 $35,945,000 $228,949 $4,111 3.05%
    30-36% 123 $27,145,000 $220,691 $4,275 3.08%
    <20% 64 $15,670,000 $244,844 $3,955 2.92%
    50-60% 30 $6,090,000 $203,000 $6,833 3.28%
    44% 27 $6,065,000 $224,630 $4,498 3.09%
    37% 22 $5,790,000 $263,182 $4,896 3.07%
    49% 22 $4,820,000 $219,091 $4,646 3.15%
    39% 21 $4,265,000 $203,095 $4,263 3.03%
    43% 20 $5,330,000 $266,500 $4,073 3.12%
    45% 19 $4,625,000 $243,421 $4,417 2.99%
    42% 18 $4,690,000 $260,556 $5,073 3.07%
    38% 18 $4,250,000 $236,111 $4,784 2.98%
    40% 18 $4,290,000 $238,333 $4,461 3.14%
    46% 18 $3,900,000 $216,667 $4,506 2.95%
    41% 16 $2,800,000 $175,000 $4,344 3.27%
    36% 15 $3,695,000 $246,333 $4,588 3.35%
    48% 12 $2,580,000 $215,000 $4,358 3.35%
    47% 7 $1,465,000 $209,286 $4,741 3.25%
    >60% 1 $435,000 $435,000 $4,596 4.50%

    First United Bank lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? 30-36%, with 123 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 659 $146,175,000 $221,813 $4,424 3.23%
    Not applicable 71 $17,545,000 $247,113 $0 4.97%
    Asian 7 $2,005,000 $286,429 $4,984 2.75%
    Black 5 $875,000 $175,000 $3,396 3.28%
    Not provided 2 $500,000 $250,000 $6,083 3.31%
    American Indian 1 $315,000 $315,000 $4,207 3.00%

    Approval Rates

    Total approvals of all applications
    96.76%

    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
    89.53%

    First United Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 745 $167,415,000 $224,718

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $6,655,000 $1,331,000
    Single Family (1-4 Units):Site-Built 740 $160,760,000 $217,243

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $1,785,000 $85,000 $3,352 4.40%
    40-60% 84 $18,270,000 $217,500 $3,966 3.51%
    60-80% 312 $76,650,000 $245,673 $3,979 3.54%
    80-100% 322 $69,780,000 $216,708 $4,845 3.14%
    Over 100% 2 $670,000 $335,000 $14,308 2.69%
    Under 20% 4 $260,000 $65,000 $0 5.44%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 13.3%
    FIRST HORIZON BANK Other type of mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First United Bank 200 Main Street Sudan, TX 79371 Full Service B&M $50,857
    First United Bank 106 Main Seagraves, TX 79359 Full Service B&M $71,949
    First United Bank 1900 Se 34th Street Suite 100 Amarillo, TX 79118 Full Service B&M $45,339
    First United Bank 2003 South Hall Avenue Littlefield, TX 79339 Full Service B&M $37,528
    First United Bank 201 North Broadway Dimmitt, TX 79027 Limited, Drive-thru $0
    First United Bank 201 North Broadway Dimmitt, TX 79027 Full Service B&M $100,161
    First United Bank 2904 Garnett Avenue Wichita Falls, TX 76308 Full Service B&M $37,504
    First United Bank 5802 Fourth Street Lubbock, TX 79416 Full Service B&M $95,275
    First United Bank 601 North First Street Lamesa, TX 79331 Full Service B&M $131,490
    First United Bank 601 Nw Avenue B Seminole, TX 79360 Full Service B&M $174,536
    First United Bank 6604 Frankford Avenue Lubbock, TX 79424 Full Service B&M $69,101
    First United Bank 801 23rd Street Canyon, TX 79015 Full Service Retail $143,918
    First United Bank 9801 Indiana Avenue Lubbock, TX 79423 Full Service B&M $42,376
    First United Bank Main And Cedar Earth, TX 79031 Full Service B&M $31,607
    First United Bank One First United Bank Parkway Amarillo, TX 79119 Full Service B&M $301,262

    For 2020, First United Bank had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $64,409
    Net interest income $56,121
    Total noninterest income $11,480
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,438
    Trading account gains and fees $0
    Additional Noninterest Income $9,042
    Pre-tax net operating income $30,520
    Securities gains (or losses, -) $0
    Income before extraordinary items $30,520
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $30,520
    Minority interest net income $0
    Net income $30,520
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $30,520

    First United Bank's gross interest income from loans was $64,409,000.
    First United Bank's net interest income from loans was $56,121,000.
    First United Bank's fee based income from loans was $2,438,000.
    First United Bank's net income from loans was $30,520,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,288
    Provision for credit losses $1,770
    Total noninterest expense $35,311
    Salaries and employee benefits $21,076
    Premises and equipment expense $5,571
    Additional noninterest expense $8,664
    Applicable income taxes $0
    Net charge-offs $174
    Cash dividends $15,950

    First United Bank's interest expense for loans was $8,288,000.
    First United Bank's payroll and benefits expense were $21,076,000.
    First United Bank's property, plant and equipment expenses $5,571,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,384,567
    Deposits held in domestic offices $1,384,567
    Deposits by Individuals, partnerships, and corporations $1,136,555
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $248,012
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $151,378
    Demand deposits $89,377
    Nontransaction accounts $1,233,189
    Money market deposit accounts (MMDAs) $283,265
    Other savings deposits (excluding MMDAs) $572,213
    Total time deposits $377,711
    Total time and savings deposits $1,295,190
    Noninterest-bearing deposits $428,239
    Interest-bearing deposits $956,328
    Retail deposits $1,196,947
    IRAs and Keogh plan accounts $16,892
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,569,457
    Cash & Balances due from depository institutions $67,253
    Interest-bearing balances $10,065
    Total securities $341,900
    Federal funds sold & reverse repurchase $20,575
    Net loans and leases $1,070,972
    Loan and leases loss allowance $15,634
    Trading account assets $0
    Bank premises and fixed assets $28,466
    Other real estate owned $0
    Goodwill and other intangibles $8,355
    All other assets $31,936

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,569,457
    Total Liabilities $1,395,999
    Total deposits $1,384,567
    Interest-bearing deposits $956,328
    Deposits held in domestic offices $1,384,567
    % insured (estimated) $57
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $71
    Subordinated debt $0
    All other liabilities $11,361

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,070,972
    Loan and leases loss allowance $15,634
    Total loans and leases (domestic) $1,086,606
    All real estate loans $706,571
    Real estate loans in domestic offices $706,571
    Construction and development loans $137,342
    Residential 1-4 family construction $15,982
    Other construction, all land development and other land $121,360
    Loans secured by nonfarm nonresidential properties $310,377
    Nonfarm nonresidential secured by owner-occupied properties $107,602
    Commercial real estate & other non-farm, non-residential $202,775
    Multifamily residential real estate $34,946
    1-4 family residential loans $100,580
    Farmland loans $123,326
    Loans held in foreign offices $0
    Farm loans $102,349
    Commercial and industrial loans $268,594
    To non-U.S. addressees $0
    Loans to individuals $6,821
    Credit card loans $0
    Related Plans $99
    Consumer Auto Loans $4,146
    Other loans to individuals $2,576
    All other loans & leases $2,271
    Loans to foreign governments and official institutions $0
    Other loans $817
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    First United Bank had $1,070,972,000 of loans outstanding in 2020. $706,571,000 of loans were in real estate loans. $137,342,000 of loans were in development loans. $34,946,000 of loans were in multifamily mortgage loans. $100,580,000 of loans were in 1-4 family mortgage loans. $102,349,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,146,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 215 $48,097 $223,707
    Nonfarm, nonresidential loans - <$100k 44 $1,878 $42,682
    Nonfarm, nonresidential loans - $100-250k 71 $8,619 $121,394
    Nonfarm, nonresidential loans - $250k-1MM 100 $37,600 $376,000
    Commercial & Industrial, US addressed loans - <$1MM 1,900 $111,294 $58,576
    Commercial & Industrial, US addressed loans - <$100k 1,522 $36,849 $24,211
    Commercial & Industrial, US addressed loans - $100-250k 218 $24,851 $113,995
    Commercial & Industrial, US addressed loans - $250k-1MM 160 $49,594 $309,963
    Farmland loans - <$1MM 123 $17,649 $143,488
    Farmland loans - <$100k 33 $1,305 $39,545
    Farmland loans - $100-250k 52 $5,719 $109,981
    Farmland loans - $250k-1MM 38 $10,625 $279,605
    Agriculture operations loans - <$1MM 279 $16,711 $59,896
    Agriculture operations loans - <$100k 160 $3,414 $21,338
    Agriculture operations loans - $100-250k 66 $6,303 $95,500
    Agriculture operations loans - $250k-1MM 53 $6,994 $131,962