First State Bank Mortgage Rates, Fees & Info

Stuart, IA

LEI: 549300J99UM25CTWNN58

Tax ID: 42-0620579

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Mortgage Data

Review & Overview

First State Bank is a smaller bank specializing in Refi and Home Purchase loans. First State Bank has a high proportion of conventional loans. Their top (well, only) market is Des Moines.

First State Bank has an 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

40

Origination Dollar Volume (All Markets)

$2,430,000

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
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 35 $2,175,000 $62,143 $0 0.00%
Outside of Metro Areas 5 $255,000 $51,000 $0 0.00%
First State Bank's top markets include and Des Moines among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $2,430,000 $60,750 $0 0.00%

    For 2018, First State Bank's most frequently originated type of loan was Conventional, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 17 $1,455,000 $85,588 $0 0.00%
    Home Purchase 12 $650,000 $54,167 $0 0.00%
    Home Improvement 10 $250,000 $25,000 $0 0.00%
    Other 1 $75,000 $75,000 $0 0.00%

    For 2018, First State Bank's most frequently cited loan purpose was Refi, with 17 originations. The 2nd most popular reason was Home Purchase, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 40 $2,430,000 $60,750 $0 0.00%

    For 2018, First State Bank's most frequently cited loan duration was Other, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 31 $1,115,000 $35,968 $0 0.00%
    $100k-200k 7 $875,000 $125,000 $0 0.00%
    $200k-400k 2 $440,000 $220,000 $0 0.00%

    2018 saw First State Bank place emphasis on $100,000 or less loans with 31 originations, totaling $1,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 18 $980,000 $54,444 $0 0.00%
    $50k-75k 9 $525,000 $58,333 $0 0.00%
    $75k-100k 8 $500,000 $62,500 $0 0.00%
    $100k-150k 4 $390,000 $97,500 $0 0.00%
    $150k-250k 1 $35,000 $35,000 $0 0.00%

    First State Bank lent most frequently to those with incomes in the $50k or less range, with 18 originations. The second most popular income band? $50k-75k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 40 $2,430,000 $60,750 $0 0.00%

    First State Bank lent most frequently to those with DTI ratios of Exempt%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 40 $2,430,000 $60,750 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.29%

    First State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    First State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 40 $2,430,000 $60,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $250,000 $62,500
    Single Family (1-4 Units):Site-Built 36 $2,180,000 $60,556

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 3 21.4%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.1%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 5 35.7%