First State Bank Mortgage Rates, Fees & Info

Gothenburg, NE

LEI: 549300OYN1WD4APNOU82

Tax ID: 47-0162740

5 stars - Updated: 10/29/24 - out of 5 stars, based on 16 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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 State Bank is a smaller bank specializing in Home Purchase loans. First State Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, North Platte, Phoenix, Lexington, and San Diego among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First State 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 State 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
    30 Year Conventional Purchase 6.61% 10/29/24
    30 Year Conventional Refi 6.56% 10/29/24
    30 Year Cash-out Refi 6.63% 10/29/24
    30 Year FHA Purchase 7.13% 10/29/24
    30 Year VA Purchase 6.15% 10/29/24
    30 Year USDA Purchase 6.69% 10/29/24
    15 Year Conventional Purchase 5.68% 10/29/24
    15 Year Conventional Refi 5.99% 10/29/24
    15 Year Cash-out Refi 5.99% 10/29/24
    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 State Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First State 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

    257

    Origination Dollar Volume (All Markets)

    $58,285,000
    Show all (6) awards

    Relative Rate

    First State Bank's average 30 year fixed mortgage rate was 6.39%.

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

    This yields a difference of -0.09%.

    Relative Fees (Closing Costs)

    First State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,079.

    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
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 135 $31,765,000 $235,296 $2,846 7.25%
    North Platte, NE (FHA|USDA|VA) 49 $6,645,000 $135,612 $3,452 6.24%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 11 $4,755,000 $432,273 $1,918 7.88%
    Lexington, NE (FHA|USDA|VA) 30 $3,940,000 $131,333 $2,983 6.29%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $2,325,000 $2,325,000 $0 6.50%
    Outside of Metro Areas 14 $2,060,000 $147,143 $3,368 6.71%
    RAPID CITY, SD (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 9.00%
    Kearney, NE (FHA|USDA|VA) 2 $690,000 $345,000 $1,651 6.40%
    BOISE CITY, ID (FHA|USDA|VA) 1 $605,000 $605,000 $1,438 8.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $595,000 $595,000 $0 7.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $465,000 $465,000 $2,847 6.13%
    CHEYENNE, WY (FHA|USDA|VA) 1 $415,000 $415,000 $12,120 6.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,494 6.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $365,000 $365,000 $0 7.50%
    Spirit Lake, IA (FHA|USDA|VA) 1 $355,000 $355,000 $3,478 6.50%
    JACKSON, TN (FHA|USDA|VA) 1 $355,000 $355,000 $0 7.50%
    LINCOLN, NE (FHA|USDA|VA) 1 $345,000 $345,000 $10,078 6.50%
    GRAND ISLAND, NE (FHA|USDA|VA) 1 $205,000 $205,000 $1,666 6.00%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,876 6.25%
    Show Low, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.75%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $85,000 $85,000 $2,622 6.38%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.50%
    First State Bank's top markets include Omaha, North Platte, Phoenix, Lexington, and San Diego among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)

    • Similar Lenders

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

    METRO CU
    Similarity Rank: 56
    South Metro Federal Credit Union
    Similarity Rank: 75
    Cobalt Credit Union
    Similarity Rank: 192
    Adams Bank & Trust
    Similarity Rank: 198
    FOUR POINTS
    Similarity Rank: 240
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 243
    First State Bank
    Similarity Rank: 506
    Exchange Bank
    Similarity Rank: 510
    Central National Bank
    Similarity Rank: 550
    Five Points Bank
    Similarity Rank: 702

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 231 $53,425,000 $231,277 $2,454 6.98%
    FHA 19 $3,175,000 $167,105 $5,844 6.30%
    VA 6 $1,600,000 $266,667 $9,497 6.69%
    USDA 1 $85,000 $85,000 $3,421 5.50%

    For 2023, First State Bank's most frequently originated type of loan was Conventional, with 231 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 200 $46,950,000 $234,750 $3,413 6.82%
    Refi 22 $5,320,000 $241,818 $2,284 7.57%
    Cash Out Refi 17 $4,275,000 $251,471 $2,167 7.14%
    Home Improvement 14 $980,000 $70,000 $921 6.86%
    Other 4 $760,000 $190,000 $1,042 7.91%

    For 2023, First State Bank's most frequently cited loan purpose was Home Purchase, with 200 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 107 $29,205,000 $272,944 $2,596 6.85%
    30 Year 70 $13,370,000 $191,000 $4,079 6.39%
    20 Year 34 $4,890,000 $143,824 $0 8.10%
    5 Year 18 $5,210,000 $289,444 $1,953 7.46%
    1 Year 17 $2,605,000 $153,235 $759 7.79%
    15 Year 5 $575,000 $115,000 $1,897 7.38%
    10 Year 4 $30,000 $7,500 $0 1.00%
    3 Year 2 $2,400,000 $1,200,000 $0 7.75%

    For 2023, First State Bank's most frequently cited loan duration was Other, with 107 originations. The 2nd most popular length was 30 Year, with 70 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 76 $14,120,000 $185,789
    $1k-2k 72 $19,060,000 $264,722
    $2k-3k 8 $1,840,000 $230,000
    $3k-4k 1 $445,000 $445,000
    $4k-5k 1 $585,000 $585,000

    First State Bank's average total fees were $4,079, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 76 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 89 $22,815,000 $256,348
    Over 8% 54 $11,640,000 $215,556
    7-8% 54 $9,820,000 $181,852
    5-6% 52 $13,670,000 $262,885
    <2.5% 6 $50,000 $8,333
    4-5% 1 $285,000 $285,000
    3-4% 1 $5,000 $5,000

    During 2023, First State Bank's average interest rate for loans was 6.39%, while their most frequently originated rate bucket for loans was 6-7%, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 97 $14,025,000 $144,588 $3,292 7.11%
    $200k-400k 74 $19,900,000 $268,919 $3,571 6.70%
    $100,000 or less 60 $3,630,000 $60,500 $1,786 6.88%
    $400k-600k 16 $7,750,000 $484,375 $4,089 6.87%
    $1MM+ 7 $11,005,000 $1,572,143 $3,857 7.17%
    $600k-1MM 3 $1,975,000 $658,333 $2,429 6.70%

    2023 saw First State Bank place emphasis on $100k-200k loans with 97 originations, totaling $14,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 46 $5,500,000 $119,565 $2,790 6.15%
    $100k-150k 41 $9,255,000 $225,732 $3,427 6.44%
    $75k-100k 25 $4,625,000 $185,000 $3,851 6.26%
    $150k-250k 24 $7,530,000 $313,750 $3,030 6.39%
    $250k+ 23 $12,105,000 $526,304 $2,925 7.22%
    $50k or less 21 $2,615,000 $124,524 $2,769 6.70%

    First State Bank lent most frequently to those with incomes in the $50k-75k range, with 46 originations. The second most popular income band? $100k-150k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 39 $7,835,000 $200,897 $2,972 6.29%
    30-36% 31 $5,545,000 $178,871 $3,304 6.02%
    <20% 14 $6,950,000 $496,429 $2,659 6.62%
    40% 12 $2,670,000 $222,500 $3,787 6.39%
    39% 10 $1,950,000 $195,000 $3,951 6.58%
    41% 8 $2,070,000 $258,750 $2,679 6.50%
    38% 8 $1,550,000 $193,750 $2,542 5.63%
    43% 7 $1,305,000 $186,429 $3,301 6.59%
    44% 7 $1,645,000 $235,000 $2,468 7.13%
    42% 6 $1,110,000 $185,000 $3,615 6.42%
    37% 4 $360,000 $90,000 $2,363 5.08%
    45% 4 $410,000 $102,500 $2,316 5.22%
    49% 3 $1,005,000 $335,000 $5,150 6.44%
    46% 3 $605,000 $201,667 $3,988 6.33%
    48% 3 $755,000 $251,667 $4,013 6.13%
    50-60% 2 $590,000 $295,000 $0 7.75%
    >60% 1 $85,000 $85,000 $792 7.14%
    36% 1 $225,000 $225,000 $2,321 6.00%
    47% 1 $105,000 $105,000 $2,541 5.95%

    First State Bank lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 167 $38,425,000 $230,090 $3,207 6.40%
    Not applicable 77 $16,655,000 $216,299 $0 7.99%
    Not provided 6 $1,770,000 $295,000 $1,798 7.17%
    Black 5 $1,155,000 $231,000 $2,554 7.29%
    Asian Indian 1 $205,000 $205,000 $0 8.50%
    Asian 1 $75,000 $75,000 $2,354 6.88%

    Approval Rates

    Total approvals of all applications
    94.43%

    First State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.94%

    First State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 257 $58,285,000 $226,790

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    257 $58,285,000 $226,790

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,315,000 $110,238 $1,858 7.34%
    40-60% 30 $6,700,000 $223,333 $2,855 6.90%
    60-80% 81 $21,595,000 $266,605 $2,581 7.19%
    80-100% 95 $24,665,000 $259,632 $3,824 6.76%
    Over 100% 4 $1,050,000 $262,500 $10,125 6.81%
    Under 20% 25 $1,925,000 $77,000 $600 6.25%