First Bank Of Alabama Mortgage Rates, Fees & Info
Talladega, ALLEI: 549300IXTSQB6QVVI060
Tax ID: 63-0108746
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Mortgage Data
Review & Overview
First Bank Of Alabama is a smaller bank specializing in Home Purchase and Refi loans. First Bank Of Alabama has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Talladega, Daphne, Anniston, and Lagrange among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)First Bank Of Alabama 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.
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Originations
166Origination Dollar Volume (All Markets)
$35,130,000Top 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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 28 | $9,360,000 | $334,286 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 46 | $7,560,000 | $164,348 | $0 | 0.00% |
| Outside of Metro Areas | 51 | $7,215,000 | $141,471 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $3,220,000 | $1,610,000 | $0 | 0.00% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 19 | $3,145,000 | $165,526 | $0 | 0.00% |
| LaGrange, GA-AL (FHA|USDA|VA) | 8 | $1,110,000 | $138,750 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Americus, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| Fort Payne, AL (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 | 166 | $35,130,000 | $211,627 | $0 | 0.00% |
For 2023, First Bank Of Alabama's most frequently originated type of loan was Conventional, with 166 originations.
Loan Reason
For 2023, First Bank Of Alabama's most frequently cited loan purpose was Home Purchase, with 90 originations. The 2nd most popular reason was Refi, with 41 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 166 | $35,130,000 | $211,627 | $0 | 0.00% |
For 2023, First Bank Of Alabama's most frequently cited loan duration was Other, with 166 originations.
Loan Sizing
2023 saw First Bank Of Alabama place emphasis on $100,000 or less loans with 77 originations, totaling $4,275,000 in origination value.
Applicant Income
First Bank Of Alabama lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k-75k, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 166 | $35,130,000 | $211,627 | $0 | 0.00% |
First Bank Of Alabama lent most frequently to those with DTI ratios of Exempt%, with 166 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.38%
First Bank Of Alabama has an average approval rate.
Pick Rate
Approvals leading to origination86.75%
First Bank Of Alabama has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 166 | $35,130,000 | $211,627 |