First State Bank Mortgage Rates, Fees & Info
Lonoke, ARLEI: 549300DFQP4S0ZYOBT18
Tax ID: 71-0057050
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Mortgage Data
Review & Overview
First State Bank is a smaller bank specializing in Home Purchase loans. First State Bank has a high proportion of conventional loans.First State 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
66Origination Dollar Volume (All Markets)
$17,980,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 66 | $17,980,000 | $272,424 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 66 | $17,980,000 | $272,424 | $0 | 0.00% |
For 2019, First State Bank's most frequently originated type of loan was Conventional, with 66 originations.
Loan Reason
For 2019, First State Bank's most frequently cited loan purpose was Home Purchase, with 55 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 66 | $17,980,000 | $272,424 | $0 | 0.00% |
For 2019, First State Bank's most frequently cited loan duration was Other, with 66 originations.
Loan Sizing
2019 saw First State Bank place emphasis on $200k-400k loans with 27 originations, totaling $7,015,000 in origination value.
Applicant Income
First State Bank lent most frequently to those with incomes in the $50k or less range, with 7 originations. The second most popular income band? $250k+, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 66 | $17,980,000 | $272,424 | $0 | 0.00% |
First State Bank lent most frequently to those with DTI ratios of Exempt%, with 66 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.18%
First State 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 origination95.45%
First State 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 | 66 | $17,980,000 | $272,424 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | VA mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 20.0% |