First Bank Mortgage Rates, Fees & Info
Burkburnett, TXLEI: 549300LO3MP4RAI32X70
Tax ID: 75-0164917
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.72% | 12/16/24 |
| 30 Year Conventional Refi | 6.59% | 12/16/24 |
| 30 Year Cash-out Refi | 6.84% | 12/16/24 |
| 30 Year FHA Purchase | 7.58% | 12/16/24 |
| 30 Year VA Purchase | 6.25% | 12/16/24 |
| 30 Year VA Refi | 6.29% | 12/16/24 |
| 30 Year USDA Purchase | 7.34% | 12/16/24 |
| 15 Year Conventional Purchase | 6.24% | 12/16/24 |
| 15 Year Conventional Refi | 6.34% | 12/16/24 |
| 15 Year Cash-out Refi | 6.34% | 12/16/24 |
| 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 Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,448Origination Dollar Volume (All Markets)
$514,300,000Awards
First Bank - 2022
First Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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.
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Product Mix
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
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
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
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
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
2022 saw First Bank place emphasis on $200k-400k loans with 607 originations, totaling $180,315,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications97.80%
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 origination80.66%
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 |
LTV Distribution
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% |