First Bank & Trust Mortgage Rates, Fees & Info
Brookings, SDLEI: 549300IQ5NY7CSJLZW53
Tax ID: 46-0187030
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Mortgage Data
Review & Overview
First Bank & Trust is a smaller bank specializing in Home Purchase loans. First Bank & Trust has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Sioux Falls, Minneapolis, Brookings, Watertown, and Vermillion among others. We have data for 52 markets. (Some data included below & more in-depth data is available with an active subscription.)First Bank & Trust 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 Bank & Trust 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.80% | 11/17/24 |
| 30 Year Conventional Purchase | 6.48% | 11/17/24 |
| 30 Year Conventional Refi | 6.45% | 11/17/24 |
| 30 Year Cash-out Refi | 6.47% | 11/17/24 |
| 30 Year FHA Purchase | 7.03% | 11/17/24 |
| 30 Year VA Purchase | 5.73% | 11/17/24 |
| 30 Year VA Refi | 5.47% | 11/17/24 |
| 30 Year USDA Purchase | 6.47% | 11/17/24 |
| 15 Year Conventional Purchase | 5.89% | 11/17/24 |
| 15 Year Conventional Refi | 5.89% | 11/17/24 |
| 15 Year Cash-out Refi | 5.89% | 11/17/24 |
| 15 Year VA Purchase | 5.76% | 11/17/24 |
| 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 Bank & Trust Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,498Origination Dollar Volume (All Markets)
$390,920,000Awards
First Bank & Trust - 2022
First Bank & Trust is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| SIOUX FALLS, SD (FHA|USDA|VA) | 535 | $133,895,000 | $250,271 | $5,456 | 4.71% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 252 | $127,900,000 | $507,540 | $4,094 | 4.98% |
| Brookings, SD (FHA|USDA|VA) | 223 | $42,055,000 | $188,587 | $4,633 | 5.01% |
| Outside of Metro Areas | 289 | $38,595,000 | $133,547 | $4,126 | 4.98% |
| Watertown, SD (FHA|USDA|VA) | 84 | $16,190,000 | $192,738 | $4,763 | 4.78% |
| Vermillion, SD (FHA|USDA|VA) | 23 | $7,345,000 | $319,348 | $4,895 | 5.15% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $2,155,000 | $431,000 | $8,766 | 4.94% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 8 | $2,150,000 | $268,750 | $5,544 | 4.23% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $9,161 | 4.15% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $10,396 | 5.13% |
| ROCHESTER, MN (FHA|USDA|VA) | 5 | $1,245,000 | $249,000 | $7,515 | 4.20% |
| Alexandria, MN (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $8,713 | 4.63% |
| Spirit Lake, IA (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $7,913 | 5.31% |
| Key West, FL (FHA|USDA|VA) | 1 | $915,000 | $915,000 | $16,726 | 5.38% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $11,970 | 5.25% |
| RAPID CITY, SD (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $5,400 | 4.74% |
| ST. CLOUD, MN (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $7,095 | 4.91% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $6,219 | 3.25% |
| Marshall, MN (FHA|USDA|VA) | 5 | $755,000 | $151,000 | $5,196 | 5.12% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 4.60% |
| Brainerd, MN (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $4,939 | 5.28% |
| Yankton, SD (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $5,679 | 4.83% |
| Mitchell, SD (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,635 | 4.78% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $1,471 | 5.65% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,993 | 3.38% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,584 | 5.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $1,987 | 5.40% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,133 | 5.50% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,404 | 6.63% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,016 | 3.50% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,102 | 4.75% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,693 | 4.75% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,818 | 4.38% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 3.95% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,699 | 4.35% |
| Pierre, SD (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,566 | 6.20% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.75% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,461 | 6.50% |
| Aberdeen, SD (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 5.00% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 4.80% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,752 | 5.25% |
| Willmar, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,591 | 2.88% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 5.38% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.50% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,033 | 4.88% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,302 | 2.88% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $0 | 4.75% |
| Red Wing, MN (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 5.70% |
| Kearney, NE (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,585 | 5.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 5.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.00% |
| Winona, MN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.25% |
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Product Mix
For 2022, First Bank & Trust's most frequently originated type of loan was Conventional, with 927 originations. Their 2nd most popular type was HELOC, with 440 originations.
Loan Reason
For 2022, First Bank & Trust's most frequently cited loan purpose was Home Purchase, with 828 originations. The 2nd most popular reason was Refi, with 246 originations.
Loan Duration/Length
For 2022, First Bank & Trust's most frequently cited loan duration was 30 Year, with 719 originations. The 2nd most popular length was 5 Year, with 442 originations.
Origination Fees/Closing Costs
First Bank & Trust's average total fees were $5,542, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 217 originations.
Interest Rates
During 2022, First Bank & Trust's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 490 originations.
Loan Sizing
2022 saw First Bank & Trust place emphasis on $200k-400k loans with 495 originations, totaling $138,285,000 in origination value.
Applicant Income
First Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 315 originations. The second most popular income band? $75k-100k, with 263 originations.
Applicant Debt to Income Ratio
First Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 341 originations. The next most common DTI ratio? 30-36%, with 302 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.08%
First Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination77.24%
First Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,498 | $390,920,000 | $260,961 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST CITIZENS BANCSHARES, INC. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |