First National Bank Mortgage Rates, Fees & Info

Hamilton, AL

LEI: 549300OWLJ3NG26J9N79

Tax ID: 63-0700642

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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 National Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Tuscaloosa, Jasper, Tupelo, Florence, and Cullman among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First National 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.

    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
    15 Year Conventional Purchase 7.08% 11/22/24
    15 Year Conventional Refi 7.99% 11/22/24
    15 Year Cash-out Refi 7.99% 11/22/24
    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 National Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First National 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

    123

    Origination Dollar Volume (All Markets)

    $13,535,000

    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
    Outside of Metro Areas 93 $8,165,000 $87,796 $2,504 5.94%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $2,105,000 $2,105,000 $0 4.49%
    Jasper, AL (FHA|USDA|VA) 24 $1,700,000 $70,833 $2,852 6.59%
    Tupelo, MS (FHA|USDA|VA) 1 $495,000 $495,000 $8,515 4.24%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $375,000 $375,000 $2,025 4.39%
    Cullman, AL (FHA|USDA|VA) 1 $345,000 $345,000 $5,214 4.24%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $245,000 $245,000 $2,472 6.14%
    MOBILE, AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.95%
    First National Bank's top markets include Tuscaloosa, Jasper, Tupelo, Florence, and Cullman among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 123 $13,535,000 $110,041 $2,643 6.03%

    For 2022, First National Bank's most frequently originated type of loan was Conventional, with 123 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 53 $7,945,000 $149,906 $3,241 5.77%
    Cash Out Refi 36 $3,510,000 $97,500 $2,295 5.84%
    Refi 15 $945,000 $63,000 $1,846 6.51%
    Other 14 $810,000 $57,857 $2,353 6.78%
    Home Improvement 5 $325,000 $65,000 $2,497 6.45%

    For 2022, First National Bank's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 57 $5,425,000 $95,175 $2,802 6.20%
    10 Year 36 $3,560,000 $98,889 $2,650 5.33%
    Other 16 $3,460,000 $216,250 $2,440 6.59%
    5 Year 13 $1,075,000 $82,692 $2,300 6.36%
    3 Year 1 $15,000 $15,000 $1,180 7.74%

    For 2022, First National Bank's most frequently cited loan duration was 15 Year, with 57 originations. The 2nd most popular length was 10 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 61 $3,855,000 $63,197
    $<1k 35 $1,905,000 $54,429
    $2k-3k 10 $1,790,000 $179,000
    $3k-4k 4 $1,340,000 $335,000
    $4k-5k 2 $650,000 $325,000
    $5k+ 1 $495,000 $495,000

    First National Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 61 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 29 $2,915,000 $100,517
    4-5% 26 $5,840,000 $224,615
    6-7% 21 $1,795,000 $85,476
    7-8% 20 $1,240,000 $62,000
    3-4% 14 $1,100,000 $78,571
    Over 8% 13 $645,000 $49,615

    During 2022, First National Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 29 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 92 $4,740,000 $51,522 $2,237 6.29%
    $100k-200k 15 $2,135,000 $142,333 $3,688 5.15%
    $200k-400k 14 $4,060,000 $290,000 $3,815 5.47%
    $1MM+ 1 $2,105,000 $2,105,000 $0 4.49%
    $400k-600k 1 $495,000 $495,000 $8,515 4.24%

    2022 saw First National Bank place emphasis on $100,000 or less loans with 92 originations, totaling $4,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 39 $2,075,000 $53,205 $2,174 6.47%
    $50k-75k 29 $1,825,000 $62,931 $2,464 5.97%
    $75k-100k 21 $1,575,000 $75,000 $2,302 6.09%
    $100k-150k 13 $1,285,000 $98,846 $3,056 5.85%
    $150k-250k 10 $2,660,000 $266,000 $4,494 5.61%
    $250k+ 6 $1,620,000 $270,000 $4,029 4.87%

    First National Bank lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 40 $3,860,000 $96,500 $2,660 5.94%
    <20% 28 $2,400,000 $85,714 $2,543 5.52%
    30-36% 12 $580,000 $48,333 $2,237 6.50%
    >60% 11 $1,065,000 $96,818 $2,281 7.28%
    50-60% 6 $920,000 $153,333 $3,283 5.98%
    41% 4 $760,000 $190,000 $3,942 5.94%
    44% 3 $205,000 $68,333 $2,640 6.76%
    40% 3 $265,000 $88,333 $2,710 6.18%
    37% 2 $160,000 $80,000 $2,835 5.60%
    39% 2 $340,000 $170,000 $3,655 3.77%
    45% 2 $100,000 $50,000 $2,239 6.19%
    47% 2 $130,000 $65,000 $2,482 8.32%
    38% 2 $180,000 $90,000 $3,005 6.07%
    42% 1 $75,000 $75,000 $2,645 6.24%

    First National Bank lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? <20%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 114 $10,740,000 $94,211 $2,634 6.07%
    Not applicable 5 $2,495,000 $499,000 $0 5.23%
    Not provided 3 $165,000 $55,000 $2,581 6.05%
    Black 1 $135,000 $135,000 $3,865 4.39%

    Approval Rates

    Total approvals of all applications
    96.58%

    First National 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
    86.99%

    First National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 123 $13,535,000 $110,041

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    123 $13,535,000 $110,041

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $1,100,000 $50,000 $2,145 6.18%
    40-60% 28 $2,060,000 $73,571 $2,383 6.55%
    60-80% 35 $5,465,000 $156,143 $2,794 5.60%
    80-100% 35 $4,805,000 $137,286 $3,161 5.82%
    Under 20% 3 $105,000 $35,000 $1,270 7.29%

    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%