The First National Bank Of Manchester Mortgage Rates, Fees & Info
MANCHESTER, TNLEI: 549300II4U7S5GDYGU90
Tax ID: 62-0201370
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Mortgage Data
Review & Overview
The First National Bank Of Manchester is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. The First National Bank Of Manchester has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Nashville, Tullahoma, Mcminnville, Sevierville, and Knoxville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)The First National Bank Of Manchester 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
128Origination Dollar Volume (All Markets)
$22,390,000Top 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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 66 | $15,820,000 | $239,697 | $0 | 0.00% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 46 | $4,640,000 | $100,870 | $0 | 0.00% |
| McMinnville, TN (FHA|USDA|VA) | 9 | $1,195,000 | $132,778 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $160,000 | $80,000 | $0 | 0.00% |
| Lawrenceburg, TN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 123 | $21,555,000 | $175,244 | $0 | 0.00% |
| USDA | 3 | $355,000 | $118,333 | $0 | 0.00% |
| FHA | 2 | $480,000 | $240,000 | $0 | 0.00% |
For 2019, The First National Bank Of Manchester's most frequently originated type of loan was Conventional, with 123 originations. Their 2nd most popular type was USDA, with 3 originations.
Loan Reason
For 2019, The First National Bank Of Manchester's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Refi, with 37 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 128 | $22,390,000 | $174,922 | $0 | 0.00% |
For 2019, The First National Bank Of Manchester's most frequently cited loan duration was Other, with 128 originations.
Loan Sizing
2019 saw The First National Bank Of Manchester place emphasis on $100,000 or less loans with 58 originations, totaling $3,210,000 in origination value.
Applicant Income
The First National Bank Of Manchester lent most frequently to those with incomes in the $75k-100k range, with 30 originations. The second most popular income band? $50k or less, with 28 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 128 | $22,390,000 | $174,922 | $0 | 0.00% |
The First National Bank Of Manchester lent most frequently to those with DTI ratios of Exempt%, with 128 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.33%
The First National Bank Of Manchester has an average approval rate.
Pick Rate
Approvals leading to origination90.63%
The First National Bank Of Manchester has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 128 | $22,390,000 | $174,922 |