First Harrison Bank Mortgage Rates, Fees & Info

Corydon, IN

LEI: 549300LGEXCX325O8C49

Tax ID: 35-0634720

5 stars - Updated: 10/13/24 - out of 5 stars, based on 26 reviews

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

Jump to:

Mortgage Data

Review & Overview

First Harrison Bank is a smaller bank specializing in Home Purchase loans. First Harrison Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Louisville, Bardstown, Crestview, Elizabethtown, and Scottsburg among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Harrison 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. First Harrison Bank 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 relatively high 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.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 10/13/24
30 Year Conventional Purchase 6.64% 10/13/24
30 Year Conventional Refi 6.76% 10/13/24
30 Year Cash-out Refi 6.91% 10/13/24
30 Year FHA Purchase 7.30% 10/13/24
30 Year FHA Refi 7.10% 10/13/24
30 Year VA Refi 6.27% 10/13/24
30 Year USDA Purchase 7.09% 10/13/24
15 Year Conventional Purchase 6.49% 10/13/24
15 Year Conventional Refi 6.16% 10/13/24
15 Year Cash-out Refi 6.16% 10/13/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

First Harrison Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Harrison Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

696

Origination Dollar Volume (All Markets)

$111,380,000

Awards

First Harrison Bank 30 Year Conventional Loans silver First Harrison Bank FHA Loans gold First Harrison Bank 30 Year Conventional Loans silver First Harrison Bank FHA Loans silver
Show all (4) awards

Relative Rate

First Harrison Bank's average 30 year fixed mortgage rate was 6.77%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.29%.

Relative Fees (Closing Costs)

First Harrison Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,472.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
LOUISVILLE, KY (FHA|USDA|VA) 631 $100,245,000 $158,867 $2,220 6.62%
Outside of Metro Areas 32 $3,420,000 $106,875 $2,096 6.87%
Bardstown, KY (FHA|USDA|VA) 15 $2,605,000 $173,667 $4,866 6.67%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,995,000 $1,995,000 $0 6.60%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 7 $1,145,000 $163,571 $2,809 7.10%
Scottsburg, IN (FHA|USDA|VA) 2 $520,000 $260,000 $0 7.16%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $475,000 $475,000 $5,921 6.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $285,000 $285,000 $0 6.25%
Seymour, IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,055 5.75%
Madison, IN (FHA|USDA|VA) 2 $170,000 $85,000 $2,624 8.06%
Murray, KY (FHA|USDA|VA) 1 $145,000 $145,000 $2,832 6.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.63%
Bedford, IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.50%
First Harrison Bank's top markets include Louisville, Bardstown, Crestview, Elizabethtown, and Scottsburg among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First Harrison Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The Peoples Bank
    Similarity Rank: 270
    Peoples Bank
    Similarity Rank: 325
    Abound Federal Credit Union
    Similarity Rank: 420
    Forcht Bank
    Similarity Rank: 494
    Wilson & Muir Bank & Trust Company
    Similarity Rank: 532
    COMMONWEALTH
    Similarity Rank: 621
    Traditional Bank, Inc.
    Similarity Rank: 644
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 680
    Central Bank
    Similarity Rank: 924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 431 $84,505,000 $196,067 $2,080 7.07%
    HELOC 248 $23,240,000 $93,710 n/a 5.90%
    FHA 16 $3,380,000 $211,250 $7,388 6.70%
    VA 1 $255,000 $255,000 $6,581 7.00%

    For 2023, First Harrison Bank's most frequently originated type of loan was Conventional, with 431 originations. Their 2nd most popular type was HELOC, with 248 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 229 $66,195,000 $289,061 $3,552 6.77%
    Other 156 $12,280,000 $78,718 $990 6.61%
    Home Improvement 134 $9,150,000 $68,284 $904 6.61%
    Cash Out Refi 117 $15,895,000 $135,855 $2,036 6.57%
    Refi 60 $7,860,000 $131,000 $1,675 6.46%

    For 2023, First Harrison Bank's most frequently cited loan purpose was Home Purchase, with 229 originations. The 2nd most popular reason was Other, with 156 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 302 $38,370,000 $127,053 $1,448 6.05%
    30 Year 201 $45,055,000 $224,154 $3,472 6.77%
    10 Year 126 $10,670,000 $84,683 $726 7.71%
    5 Year 26 $10,650,000 $409,615 $699 7.19%
    20 Year 21 $2,855,000 $135,952 $2,879 6.63%
    15 Year 15 $2,785,000 $185,667 $2,789 6.24%
    1 Year 3 $875,000 $291,667 $0 8.50%
    3 Year 2 $120,000 $60,000 $0 9.38%

    For 2023, First Harrison Bank's most frequently cited loan duration was Other, with 302 originations. The 2nd most popular length was 30 Year, with 201 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 305 $39,755,000 $130,344
    $1k-2k 43 $9,565,000 $222,442
    $2k-3k 11 $2,345,000 $213,182
    $3k-4k 9 $2,415,000 $268,333
    $5k+ 5 $1,795,000 $359,000
    $4k-5k 3 $975,000 $325,000

    First Harrison Bank's average total fees were $3,472, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 305 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 230 $41,160,000 $178,957
    5-6% 183 $36,525,000 $199,590
    7-8% 155 $21,895,000 $141,258
    Over 8% 74 $6,050,000 $81,757
    4-5% 54 $5,750,000 $106,481

    During 2023, First Harrison Bank's average interest rate for loans was 6.77%, while their most frequently originated rate bucket for loans was 6-7%, with 230 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 353 $18,625,000 $52,762 $1,116 6.72%
    $100k-200k 183 $25,385,000 $138,716 $2,902 6.49%
    $200k-400k 131 $33,375,000 $254,771 $3,614 6.64%
    $400k-600k 14 $6,600,000 $471,429 $3,992 6.61%
    $600k-1MM 10 $7,020,000 $702,000 $4,646 6.90%
    $1MM+ 5 $20,375,000 $4,075,000 $0 6.07%

    2023 saw First Harrison Bank place emphasis on $100,000 or less loans with 353 originations, totaling $18,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 144 $19,340,000 $134,306 $2,379 6.52%
    $50k-75k 140 $15,290,000 $109,214 $2,205 6.53%
    $75k-100k 130 $15,600,000 $120,000 $2,500 6.56%
    $50k or less 124 $10,500,000 $84,677 $2,223 6.74%
    $150k-250k 75 $15,415,000 $205,533 $2,493 6.83%
    $250k+ 14 $5,850,000 $417,857 $2,516 7.01%

    First Harrison Bank lent most frequently to those with incomes in the $100k-150k range, with 144 originations. The second most popular income band? $50k-75k, with 140 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 171 $18,985,000 $111,023 $1,976 6.65%
    30-36% 113 $15,465,000 $136,858 $2,363 6.73%
    <20% 78 $6,070,000 $77,821 $1,382 6.37%
    38% 32 $5,180,000 $161,875 $2,467 6.92%
    39% 28 $3,240,000 $115,714 $2,218 6.46%
    50-60% 27 $4,475,000 $165,741 $2,708 6.81%
    37% 26 $3,360,000 $129,231 $2,284 6.51%
    40% 25 $2,955,000 $118,200 $1,823 6.64%
    36% 25 $2,945,000 $117,800 $2,087 6.49%
    41% 23 $3,625,000 $157,609 $2,803 6.79%
    45% 16 $3,270,000 $204,375 $2,920 6.55%
    42% 13 $2,105,000 $161,923 $3,032 6.64%
    44% 12 $2,100,000 $175,000 $3,858 6.44%
    46% 10 $1,660,000 $166,000 $4,227 6.03%
    49% 9 $2,115,000 $235,000 $3,043 6.79%
    43% 9 $1,335,000 $148,333 $3,063 7.10%
    48% 8 $1,570,000 $196,250 $4,055 6.48%
    47% 7 $925,000 $132,143 $1,928 6.41%
    >60% 6 $1,360,000 $226,667 $1,389 6.59%

    First Harrison Bank lent most frequently to those with DTI ratios of 20-30%, with 171 originations. The next most common DTI ratio? 30-36%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 627 $81,095,000 $129,338 $2,296 6.62%
    Not applicable 58 $28,640,000 $493,793 $0 6.89%
    Not provided 5 $825,000 $165,000 $3,305 7.40%
    Asian 2 $360,000 $180,000 $2,756 5.68%
    Black 3 $355,000 $118,333 $3,654 7.13%
    American Indian 1 $105,000 $105,000 $2,371 6.63%

    Approval Rates

    Total approvals of all applications
    85.82%

    First Harrison Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.93%

    First Harrison Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 696 $111,380,000 $160,029

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    696 $111,380,000 $160,029

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 177 $23,425,000 $132,345 $1,317 6.51%
    40-60% 76 $13,630,000 $179,342 $2,589 6.61%
    60-80% 147 $44,175,000 $300,510 $3,113 6.79%
    80-100% 91 $20,855,000 $229,176 $4,322 6.69%
    Under 20% 205 $9,295,000 $45,341 $852 6.64%