First Bank Mortgage Rates, Fees & Info

Burkburnett, TX

LEI: 549300LO3MP4RAI32X70

Tax ID: 75-0164917

1.4 stars - out of 5 stars, based on 38 reviews

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

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Mortgage Data

Review & Overview

First Bank is a smaller bank specializing in Home Purchase loans. First 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Dallas, Austin, Wichita Falls, Houston, and Sherman among others. We have data for 65 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Bank 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. First Bank is typically a high 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.

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% 6/4/23
30 Year Conventional Purchase 6.72% 6/4/23
30 Year Conventional Refi 6.59% 6/4/23
30 Year Cash-out Refi 6.84% 6/4/23
30 Year FHA Purchase 7.58% 6/4/23
30 Year VA Purchase 6.25% 6/4/23
30 Year VA Refi 6.29% 6/4/23
30 Year USDA Purchase 7.34% 6/4/23
15 Year Conventional Purchase 6.24% 6/4/23
15 Year Conventional Refi 6.34% 6/4/23
15 Year Cash-out Refi 6.34% 6/4/23
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 Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from First 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

1,448

Origination Dollar Volume (All Markets)

$514,300,000

Awards

First Bank FHA Loans gold
Show all (1) awards

Relative Rate

First Bank's average 30 year fixed mortgage rate was 4.99%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.23%.

Relative Fees (Closing Costs)

First Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $9,393.

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 $4,750.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 647 $231,515,000 $357,828 $9,559 5.17%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 415 $183,015,000 $441,000 $9,318 4.76%
WICHITA FALLS, TX (FHA|USDA|VA) 153 $26,805,000 $175,196 $5,206 5.52%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 32 $11,670,000 $364,688 $9,006 4.92%
SHERMAN-DENISON, TX (FHA|USDA|VA) 37 $8,985,000 $242,838 $8,509 5.59%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 22 $8,520,000 $387,273 $9,692 4.90%
Outside of Metro Areas 23 $5,975,000 $259,783 $7,994 5.21%
Mineral Wells, TX (FHA|USDA|VA) 6 $3,620,000 $603,333 $11,162 4.69%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 9 $2,355,000 $261,667 $8,324 5.50%
EL PASO, TX (FHA|USDA|VA) 11 $1,905,000 $173,182 $6,320 4.97%
CORPUS CHRISTI, TX (FHA|USDA|VA) 5 $1,545,000 $309,000 $7,846 3.78%
Athens, TX (FHA|USDA|VA) 5 $1,455,000 $291,000 $7,603 4.90%
TYLER, TX (FHA|USDA|VA) 7 $1,195,000 $170,714 $5,078 5.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,090,000 $545,000 $12,123 4.81%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $1,075,000 $1,075,000 $11,493 5.00%
BEND, OR (FHA|USDA|VA) 2 $1,050,000 $525,000 $11,039 4.38%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $17,254 6.25%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 3 $955,000 $318,333 $8,953 5.08%
Fredericksburg, TX (FHA|USDA|VA) 3 $945,000 $315,000 $5,652 4.38%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $925,000 $925,000 $8,022 5.13%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $900,000 $450,000 $6,495 6.19%
Durant, OK (FHA|USDA|VA) 1 $875,000 $875,000 $18,966 6.38%
OKLAHOMA CITY, OK (FHA|USDA|VA) 3 $855,000 $285,000 $8,852 6.50%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $850,000 $425,000 $13,708 5.31%
Sulphur Springs, TX (FHA|USDA|VA) 4 $770,000 $192,500 $4,831 5.54%
LONGVIEW, TX (FHA|USDA|VA) 2 $710,000 $355,000 $9,665 5.81%
Branson, MO (FHA|USDA|VA) 1 $675,000 $675,000 $4,780 5.99%
Corsicana, TX (FHA|USDA|VA) 2 $670,000 $335,000 $17,782 6.25%
WACO, TX (FHA|USDA|VA) 3 $665,000 $221,667 $7,815 5.33%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $645,000 $645,000 $0 4.50%
Gainesville, TX (FHA|USDA|VA) 4 $620,000 $155,000 $7,272 5.35%
Granbury, TX (FHA|USDA|VA) 2 $590,000 $295,000 $15,650 6.38%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $585,000 $585,000 $13,169 6.63%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $535,000 $535,000 $7,053 5.50%
Rockport, TX (FHA|USDA|VA) 1 $515,000 $515,000 $0 6.50%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $505,000 $505,000 $9,372 3.49%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $495,000 $495,000 $16,005 5.38%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $475,000 $475,000 $10,194 5.25%
Cañon City, CO (FHA|USDA|VA) 1 $465,000 $465,000 $20,416 6.50%
Brownwood, TX (FHA|USDA|VA) 1 $445,000 $445,000 $14,479 5.38%
Clarksburg, WV (FHA|USDA|VA) 1 $415,000 $415,000 $5,627 5.88%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $375,000 $375,000 $4,543 6.00%
LUBBOCK, TX (FHA|USDA|VA) 2 $340,000 $170,000 $0 5.44%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $315,000 $315,000 $8,743 5.63%
Newport, TN (FHA|USDA|VA) 1 $315,000 $315,000 $11,467 6.63%
Oxford, MS (FHA|USDA|VA) 2 $310,000 $155,000 $0 3.88%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $305,000 $305,000 $5,401 6.00%
Montrose, CO (FHA|USDA|VA) 1 $275,000 $275,000 $8,077 5.38%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $275,000 $275,000 $5,382 5.63%
Bonham, TX (FHA|USDA|VA) 2 $260,000 $130,000 $7,131 6.44%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $255,000 $255,000 $5,753 3.88%
Ruidoso, NM (FHA|USDA|VA) 1 $245,000 $245,000 $0 6.25%
Kerrville, TX (FHA|USDA|VA) 1 $235,000 $235,000 $0 5.75%
TULSA, OK (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.25%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $205,000 $205,000 $5,525 5.99%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $195,000 $195,000 $3,228 4.13%
ODESSA, TX (FHA|USDA|VA) 1 $195,000 $195,000 $0 6.25%
Stephenville, TX (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.75%
SAVANNAH, GA (FHA|USDA|VA) 1 $165,000 $165,000 $8,491 4.25%
COLUMBIA, SC (FHA|USDA|VA) 1 $145,000 $145,000 $4,145 4.50%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,847 6.50%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $125,000 $125,000 $5,416 4.99%
Brenham, TX (FHA|USDA|VA) 1 $125,000 $125,000 $7,040 5.75%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.38%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $75,000 $75,000 $3,201 5.75%
First Bank's top markets include Dallas, Austin, Wichita Falls, Houston, and Sherman among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

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

    TEXOMA COMMUNITY CREDIT UNION
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    PRIMEWAY
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    WESTSTAR MORTGAGE CORPORATION
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    TEXAS BAY
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,311 $465,425,000 $355,015 $8,631 5.11%
    FHA 73 $20,035,000 $274,452 $11,330 5.10%
    VA 56 $22,870,000 $408,393 $11,915 4.80%
    HELOC 7 $5,745,000 $820,714 n/a 5.34%
    USDA 1 $225,000 $225,000 $7,090 5.75%

    For 2022, First Bank's most frequently originated type of loan was Conventional, with 1,311 originations. Their 2nd most popular type was FHA, with 73 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,086 $388,530,000 $357,762 $9,319 5.21%
    Cash Out Refi 189 $68,435,000 $362,090 $8,754 4.57%
    Refi 136 $48,970,000 $360,074 $6,676 4.73%
    Other 31 $7,875,000 $254,032 $10,084 5.84%
    Home Improvement 6 $490,000 $81,667 $6,246 5.58%

    For 2022, First Bank's most frequently cited loan purpose was Home Purchase, with 1,086 originations. The 2nd most popular reason was Cash Out Refi, with 189 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,071 $425,315,000 $397,120 $9,393 4.99%
    Other 120 $23,590,000 $196,583 $4,666 5.90%
    15 Year 106 $27,160,000 $256,226 $5,004 4.37%
    20 Year 95 $17,555,000 $184,789 $5,068 5.74%
    5 Year 24 $9,660,000 $402,500 $0 5.30%
    1 Year 19 $8,905,000 $468,684 $0 5.89%
    10 Year 9 $1,675,000 $186,111 $0 6.25%
    3 Year 4 $440,000 $110,000 $0 5.75%

    For 2022, First Bank's most frequently cited loan duration was 30 Year, with 1,071 originations. The 2nd most popular length was Other, with 120 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 390 $188,190,000 $482,538
    $1k-2k 194 $72,750,000 $375,000
    $2k-3k 144 $53,130,000 $368,958
    $4k-5k 140 $51,720,000 $369,429
    $<1k 111 $28,475,000 $256,532
    $3k-4k 104 $31,210,000 $300,096

    First Bank's average total fees were $9,393, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 390 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 534 $181,630,000 $340,131
    4-5% 334 $129,440,000 $387,545
    3-4% 270 $104,310,000 $386,333
    6-7% 217 $68,015,000 $313,433
    7-8% 40 $8,790,000 $219,750
    2.5-3% 40 $17,400,000 $435,000
    <2.5% 7 $2,605,000 $372,143
    Over 8% 6 $2,110,000 $351,667

    During 2022, First Bank's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 5-6%, with 534 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 607 $180,315,000 $297,059 $8,070 5.05%
    $400k-600k 342 $166,500,000 $486,842 $10,483 4.84%
    $100k-200k 263 $39,575,000 $150,475 $5,175 5.44%
    $600k-1MM 127 $87,765,000 $691,063 $12,922 4.88%
    $100,000 or less 83 $5,745,000 $69,217 $3,160 5.77%
    $1MM+ 26 $34,400,000 $1,323,077 $16,043 5.13%

    2022 saw First Bank place emphasis on $200k-400k loans with 607 originations, totaling $180,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 352 $154,840,000 $439,886 $9,756 4.96%
    $100k-150k 335 $117,195,000 $349,836 $8,952 4.96%
    $250k+ 200 $105,930,000 $529,650 $10,178 5.02%
    $75k-100k 155 $45,315,000 $292,355 $8,141 4.83%
    $50k-75k 115 $25,865,000 $224,913 $7,153 4.87%
    $50k or less 38 $5,590,000 $147,105 $5,288 5.07%

    First Bank lent most frequently to those with incomes in the $150k-250k range, with 352 originations. The second most popular income band? $100k-150k, with 335 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 222 $84,990,000 $382,838 $8,892 4.88%
    20-30% 199 $74,835,000 $376,055 $7,924 4.73%
    44% 75 $28,945,000 $385,933 $8,596 5.24%
    42% 65 $27,655,000 $425,462 $8,650 5.09%
    <20% 58 $19,800,000 $341,379 $7,950 4.55%
    41% 57 $21,375,000 $375,000 $8,675 4.93%
    39% 52 $21,980,000 $422,692 $9,614 5.15%
    43% 51 $18,895,000 $370,490 $8,708 4.97%
    36% 50 $19,270,000 $385,400 $9,687 4.90%
    38% 47 $22,035,000 $468,830 $9,666 4.94%
    49% 45 $17,015,000 $378,111 $9,236 5.23%
    37% 42 $17,250,000 $410,714 $9,571 4.93%
    50-60% 40 $13,630,000 $340,750 $11,613 4.91%
    40% 37 $14,265,000 $385,541 $9,976 5.15%
    47% 37 $12,425,000 $335,811 $8,908 4.94%
    48% 37 $13,615,000 $367,973 $10,755 5.06%
    45% 30 $11,900,000 $396,667 $8,961 4.94%
    46% 28 $10,850,000 $387,500 $9,473 5.05%
    >60% 2 $1,290,000 $645,000 $13,114 5.94%

    First Bank lent most frequently to those with DTI ratios of 30-36%, with 222 originations. The next most common DTI ratio? 20-30%, with 199 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 914 $340,640,000 $372,691 $8,828 4.99%
    Not provided 212 $87,270,000 $411,651 $9,502 4.81%
    Not applicable 236 $54,130,000 $229,364 $0 5.87%
    Asian 49 $21,015,000 $428,878 $10,059 4.87%
    Black 24 $7,790,000 $324,583 $9,757 4.86%
    American Indian 5 $1,575,000 $315,000 $7,778 4.97%
    Native Hawaiian or Islander 5 $1,155,000 $231,000 $3,187 5.05%
    Asian Indian 2 $450,000 $225,000 $0 4.50%
    Other Asian 1 $275,000 $275,000 $5,382 5.63%

    Approval Rates

    Total approvals of all applications
    97.80%

    First Bank 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
    80.66%

    First Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,448 $514,300,000 $355,180

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,448 $514,300,000 $355,180

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 83 $19,055,000 $229,578 $5,103 5.04%
    40-60% 213 $72,605,000 $340,869 $8,288 4.90%
    60-80% 571 $205,955,000 $360,692 $9,528 5.21%
    80-100% 545 $208,725,000 $382,982 $9,530 5.06%
    Over 100% 9 $3,225,000 $358,333 $16,585 4.71%
    Under 20% 27 $4,735,000 $175,370 $3,527 5.34%

    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%