Citizens First Bank Mortgage Rates, Fees & Info
The Villages, FLLEI: 549300IQVXIW1VTW0D69
Tax ID: 59-3018034
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Mortgage Data
Review & Overview
Citizens First Bank is a smaller bank specializing in Home Purchase loans. Citizens First Bank has a high proportion of conventional loans. Their top markets by origination volume include: The Villages, Orlando, Ocala, Palatka, and Gainesville among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Citizens First 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. Citizens First 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.12% | 11/17/24 |
| 30 Year Conventional Purchase | 6.68% | 11/17/24 |
| 30 Year Cash-out Refi | 6.75% | 11/17/24 |
| 15 Year Conventional Purchase | 6.07% | 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. | ||
Citizens First Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,396Origination Dollar Volume (All Markets)
$597,110,000Awards
Citizens First Bank - 2023
Citizens First Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Citizens First Bank's average 30 year fixed mortgage rate was
7.03%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.55%.
Relative Fees (Closing Costs)
Citizens First Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,530.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| THE VILLAGES, FL (FHA|USDA|VA) | 1,388 | $345,130,000 | $248,653 | $4,025 | 7.29% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 891 | $228,495,000 | $256,448 | $4,636 | 7.18% |
| OCALA, FL (FHA|USDA|VA) | 112 | $21,520,000 | $192,143 | $3,879 | 7.66% |
| Palatka, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $10,964 | 6.58% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,382 | 6.18% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $9,262 | 7.03% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 7.12% |
Similar Lenders
We use machine learning to identify the top lenders compared against Citizens First Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 416
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Similarity Rank: 845
Similarity Rank: 1020
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 2,021 | $560,305,000 | $277,241 | $4,285 | 7.06% |
| HELOC | 375 | $36,805,000 | $98,147 | n/a | 8.34% |
For 2023, Citizens First Bank's most frequently originated type of loan was Conventional, with 2,021 originations. Their 2nd most popular type was HELOC, with 375 originations.
Loan Reason
For 2023, Citizens First Bank's most frequently cited loan purpose was Home Purchase, with 1,944 originations. The 2nd most popular reason was Other, with 201 originations.
Loan Duration/Length
For 2023, Citizens First Bank's most frequently cited loan duration was 30 Year, with 1,566 originations. The 2nd most popular length was 10 Year, with 382 originations.
Origination Fees/Closing Costs
Citizens First Bank's average total fees were $4,530, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,348 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 991 | $265,045,000 | $267,452 |
| 6-7% | 882 | $235,520,000 | $267,029 |
| Over 8% | 418 | $69,860,000 | $167,129 |
| 5-6% | 100 | $24,960,000 | $249,600 |
| 4-5% | 5 | $1,725,000 | $345,000 |
During 2023, Citizens First Bank's average interest rate for loans was 7.03%, while their most frequently originated rate bucket for loans was 7-8%, with 991 originations.
Loan Sizing
2023 saw Citizens First Bank place emphasis on $200k-400k loans with 1,175 originations, totaling $334,455,000 in origination value.
Applicant Income
Citizens First Bank lent most frequently to those with incomes in the $100k-150k range, with 730 originations. The second most popular income band? $150k-250k, with 608 originations.
Applicant Debt to Income Ratio
Citizens First Bank lent most frequently to those with DTI ratios of 20-30%, with 413 originations. The next most common DTI ratio? 30-36%, with 340 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.25%
Citizens First 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 origination78.13%
Citizens First Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 85.0 | 1 | $305,000 | $305,000 |
| NA | 2,395 | $596,805,000 | $249,188 |