First Community Bank Of Tennessee Mortgage Rates, Fees & Info

Shelbyville, TN

LEI: 549300JRILZK0V54TR93

Tax ID: 62-1333150

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First Community Bank Of Tennessee is a smaller bank specializing in Home Purchase loans. First Community Bank Of Tennessee has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Shelbyville, Bowling Green, Lewisburg, and Tullahoma among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Community Bank Of Tennessee has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First Community Bank Of Tennessee is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

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    Originations

    43

    Origination Dollar Volume (All Markets)

    $7,215,000

    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
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 15 $3,105,000 $207,000 $3,105 5.76%
    Shelbyville, TN (FHA|USDA|VA) 20 $2,450,000 $122,500 $1,761 5.62%
    BOWLING GREEN, KY (FHA|USDA|VA) 2 $1,010,000 $505,000 $0 5.50%
    Lewisburg, TN (FHA|USDA|VA) 1 $245,000 $245,000 $24 5.74%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 3 $245,000 $81,667 $1,114 6.21%
    Cookeville, TN (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.50%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.50%
    First Community Bank Of Tennessee's top markets include Nashville, Shelbyville, Bowling Green, Lewisburg, and Tullahoma among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 43 $7,215,000 $167,791 $1,918 5.70%

    For 2018, First Community Bank Of Tennessee's most frequently originated type of loan was Conventional, with 43 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $6,485,000 $209,194 $2,410 5.61%
    Refi 9 $605,000 $67,222 $1,075 5.85%
    Home Improvement 3 $125,000 $41,667 $0 6.17%

    For 2018, First Community Bank Of Tennessee's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 11 $2,365,000 $215,000 $3,639 5.89%
    20 Year 10 $1,260,000 $126,000 $1,572 5.48%
    5 Year 9 $1,515,000 $168,333 $0 5.94%
    10 Year 6 $1,150,000 $191,667 $982 5.50%
    Other 4 $420,000 $105,000 $1,213 5.60%
    15 Year 2 $130,000 $65,000 $1,197 5.83%
    30 Year 1 $375,000 $375,000 $3,327 5.15%

    For 2018, First Community Bank Of Tennessee's most frequently cited loan duration was 1 Year, with 11 originations. The 2nd most popular length was 20 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 14 $1,310,000 $93,571
    $1k-2k 4 $1,090,000 $272,500
    $2k-3k 1 $525,000 $525,000

    First Community Bank Of Tennessee's average total fees were $3,327, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 36 $5,690,000 $158,056
    6-7% 4 $280,000 $70,000
    4-5% 3 $1,245,000 $415,000

    During 2018, First Community Bank Of Tennessee's average interest rate for loans was 5.15%, while their most frequently originated rate bucket for loans was 5-6%, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $1,015,000 $53,421 $1,199 5.79%
    $100k-200k 12 $1,660,000 $138,333 $1,739 5.70%
    $200k-400k 8 $2,180,000 $272,500 $2,384 5.61%
    $400k-600k 3 $1,535,000 $511,667 $6,777 5.67%
    $600k-1MM 1 $825,000 $825,000 $0 5.00%

    2018 saw First Community Bank Of Tennessee place emphasis on $100,000 or less loans with 19 originations, totaling $1,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 8 $650,000 $81,250 $1,413 5.78%
    $50k-75k 7 $695,000 $99,286 $2,277 5.90%
    $100k-150k 6 $770,000 $128,333 $2,148 5.65%
    $150k-250k 6 $1,240,000 $206,667 $3,027 5.80%
    $75k-100k 4 $890,000 $222,500 $1,676 5.60%
    $250k+ 3 $1,155,000 $385,000 $0 5.50%

    First Community Bank Of Tennessee lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $535,000 $59,444 $1,488 5.79%
    <20% 7 $1,645,000 $235,000 $2,550 5.76%
    30-36% 4 $1,030,000 $257,500 $1,562 5.93%
    42% 2 $210,000 $105,000 $1,177 4.83%
    50-60% 2 $600,000 $300,000 $2,333 5.58%
    41% 1 $45,000 $45,000 $939 5.51%

    First Community Bank Of Tennessee lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 31 $5,035,000 $162,419 $1,868 5.77%
    Not applicable 7 $1,435,000 $205,000 $0 5.61%
    Black 4 $630,000 $157,500 $2,138 5.41%
    Asian 1 $115,000 $115,000 $2,281 5.57%

    Approval Rates

    Total approvals of all applications
    100.00%

    First Community Bank Of Tennessee has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.70%

    First Community Bank Of Tennessee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 43 $7,215,000 $167,791

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,010,000 $505,000
    Single Family (1-4 Units):Manufactured 5 $335,000 $67,000
    Single Family (1-4 Units):Site-Built 36 $5,870,000 $163,056

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $365,000 $52,143 $860 5.95%
    40-60% 11 $1,755,000 $159,545 $3,168 5.83%
    60-80% 14 $3,410,000 $243,571 $1,225 5.61%
    80-100% 8 $1,560,000 $195,000 $2,479 5.41%
    Under 20% 3 $125,000 $41,667 $1,488 5.88%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST COMMUNITY MORTGAGE, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Closing on a mortgage 1 33.3%
    FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Trouble during payment process 1 33.3%