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
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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, Anniston, Daphne, and Lagrange among others. We have data for 13 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
184Origination Dollar Volume (All Markets)
$29,780,000Top 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) | 29 | $9,295,000 | $320,517 | $0 | 0.00% |
| Outside of Metro Areas | 50 | $6,640,000 | $132,800 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 57 | $6,575,000 | $115,351 | $0 | 0.00% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 30 | $3,940,000 | $131,333 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| LaGrange, GA-AL (FHA|USDA|VA) | 5 | $475,000 | $95,000 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Selma, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 184 | $29,780,000 | $161,848 | $0 | 0.00% |
For 2022, First Bank Of Alabama's most frequently originated type of loan was Conventional, with 184 originations.
Loan Reason
For 2022, First Bank Of Alabama's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 55 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 184 | $29,780,000 | $161,848 | $0 | 0.00% |
For 2022, First Bank Of Alabama's most frequently cited loan duration was Other, with 184 originations.
Loan Sizing
2022 saw First Bank Of Alabama place emphasis on $100,000 or less loans with 92 originations, totaling $4,640,000 in origination value.
Applicant Income
First Bank Of Alabama lent most frequently to those with incomes in the $50k-75k range, with 42 originations. The second most popular income band? $50k or less, with 35 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 184 | $29,780,000 | $161,848 | $0 | 0.00% |
First Bank Of Alabama lent most frequently to those with DTI ratios of Exempt%, with 184 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.80%
First Bank Of Alabama has an average approval rate.
Pick Rate
Approvals leading to origination84.78%
First Bank Of Alabama has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 184 | $29,780,000 | $161,848 |
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% |