First Bank Of Alabama Mortgage Rates, Fees & Info
Talladega, ALLEI: 549300IXTSQB6QVVI060
Tax ID: 63-0108746
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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: Talladega, Anniston, Birmingham, Daphne, and Mobile 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 average approval rate when compared to the average across all lenders. They have an 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
130Origination Dollar Volume (All Markets)
$23,740,000Top 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 |
|---|---|---|---|---|---|
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 35 | $6,435,000 | $183,857 | $0 | 0.00% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 20 | $5,590,000 | $279,500 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 32 | $3,980,000 | $124,375 | $0 | 0.00% |
| Outside of Metro Areas | 25 | $2,785,000 | $111,400 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 6 | $1,830,000 | $305,000 | $0 | 0.00% |
| MOBILE, AL (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $0 | 0.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $0 | 0.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| ROME, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| JACKSON, MS (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 130 | $23,740,000 | $182,615 | $0 | 0.00% |
For 2020, First Bank Of Alabama's most frequently originated type of loan was Conventional, with 130 originations.
Loan Reason
For 2020, First Bank Of Alabama's most frequently cited loan purpose was Home Purchase, with 70 originations. The 2nd most popular reason was Refi, with 53 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 130 | $23,740,000 | $182,615 | $0 | 0.00% |
For 2020, First Bank Of Alabama's most frequently cited loan duration was Other, with 130 originations.
Loan Sizing
2020 saw First Bank Of Alabama place emphasis on $100,000 or less loans with 76 originations, totaling $4,290,000 in origination value.
Applicant Income
First Bank Of Alabama lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $50k or less, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 130 | $23,740,000 | $182,615 | $0 | 0.00% |
First Bank Of Alabama lent most frequently to those with DTI ratios of Exempt%, with 130 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.87%
First Bank Of Alabama has an average approval rate.
Pick Rate
Approvals leading to origination90.77%
First Bank Of Alabama has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 130 | $23,740,000 | $182,615 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Struggling to pay mortgage | 2 | 28.6% |
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |
| FIRST NATIONAL BANK OF OMAHA | FHA mortgage | Struggling to pay mortgage | 1 | 14.3% |
| FIRST NATIONAL BANK OF OMAHA | Other type of mortgage | Trouble during payment process | 1 | 14.3% |