First Bank Of Alabama Mortgage Rates, Fees & Info

Talladega, AL

LEI: 549300IXTSQB6QVVI060

Tax ID: 63-0108746

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

Jump to:

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.

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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

166

Origination Dollar Volume (All Markets)

$35,130,000

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
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%
First Bank Of Alabama's top markets include Birmingham, Talladega, Daphne, Anniston, and Lagrange among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 90 $22,170,000 $246,333 $0 0.00%
    Refi 41 $10,245,000 $249,878 $0 0.00%
    Home Improvement 21 $1,405,000 $66,905 $0 0.00%
    Other 14 $1,310,000 $93,571 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 77 $4,275,000 $55,519 $0 0.00%
    $100k-200k 49 $6,925,000 $141,327 $0 0.00%
    $200k-400k 25 $6,975,000 $279,000 $0 0.00%
    $400k-600k 7 $3,405,000 $486,429 $0 0.00%
    $1MM+ 5 $11,085,000 $2,217,000 $0 0.00%
    $600k-1MM 3 $2,465,000 $821,667 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $5,010,000 $178,929 $0 0.00%
    $50k-75k 25 $2,535,000 $101,400 $0 0.00%
    $50k or less 22 $1,350,000 $61,364 $0 0.00%
    $75k-100k 22 $2,700,000 $122,727 $0 0.00%
    $150k-250k 15 $3,895,000 $259,667 $0 0.00%
    $250k+ 10 $6,060,000 $606,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 110 $18,360,000 $166,909 $0 0.00%
    Not applicable 36 $12,280,000 $341,111 $0 0.00%
    Not provided 5 $2,065,000 $413,000 $0 0.00%
    Black 13 $1,315,000 $101,154 $0 0.00%
    Asian 2 $1,110,000 $555,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.38%

    First Bank Of Alabama has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.75%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    166 $35,130,000 $211,627