First County Bank Mortgage Rates, Fees & Info
Stamford, CTLEI: 549300HQW3FSOL75WC88
Tax ID: 06-0547190
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First County Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First County Bank has a high proportion of conventional loans. First County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bridgeport, New York, Hartford, New Haven, and Torrington among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)First County 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. They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 3/28/23 |
| 30 Year Cash-out Refi | 6.27% | 3/28/23 |
| 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. | ||
Originations
371Origination Dollar Volume (All Markets)
$280,445,000Relative Rate
First County Bank's average 30 year fixed mortgage rate was
5.02%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.26%.
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 |
|---|---|---|---|---|---|
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 287 | $184,915,000 | $644,303 | $0 | 5.15% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $42,465,000 | $14,155,000 | $0 | 5.41% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 36 | $31,940,000 | $887,222 | $0 | 4.81% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 40 | $18,220,000 | $455,500 | $0 | 4.54% |
| Torrington, CT (FHA|USDA|VA) | 2 | $1,600,000 | $800,000 | $0 | 5.70% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 340 | $181,060,000 | $532,529 | $0 | 0.00% |
| Conventional | 31 | $99,385,000 | $3,205,968 | $0 | 5.09% |
For 2022, First County Bank's most frequently originated type of loan was Conventional, with 340 originations. Their 2nd most popular type was Conventional, with 31 originations.
Loan Reason
For 2022, First County Bank's most frequently cited loan purpose was Home Purchase, with 270 originations. The 2nd most popular reason was Cash Out Refi, with 55 originations.
Loan Duration/Length
For 2022, First County Bank's most frequently cited loan duration was Other, with 358 originations. The 2nd most popular length was 30 Year, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 15 | $16,465,000 | $1,097,667 |
| 4-5% | 12 | $62,980,000 | $5,248,333 |
| 3-4% | 3 | $4,435,000 | $1,478,333 |
| 6-7% | 1 | $15,505,000 | $15,505,000 |
During 2022, First County Bank's average interest rate for loans was 5.02%, while their most frequently originated rate bucket for loans was 5-6%, with 15 originations.
Loan Sizing
2022 saw First County Bank place emphasis on $200k-400k loans with 111 originations, totaling $33,575,000 in origination value.
Applicant Income
First County Bank lent most frequently to those with incomes in the $250k+ range, with 105 originations. The second most popular income band? $150k-250k, with 99 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 340 | $181,060,000 | $532,529 | $0 | 0.00% |
First County Bank lent most frequently to those with DTI ratios of Exempt%, with 340 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.02%
First County Bank has an average approval rate.
Pick Rate
Approvals leading to origination91.11%
First County Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 340 | $181,060,000 | $532,529 |
| NA | 31 | $99,385,000 | $3,205,968 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |