First State Bank Mortgage Rates, Fees & Info

Gothenburg, NE

LEI: 549300OYN1WD4APNOU82

Tax ID: 47-0162740

5 stars - Updated: 2/19/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

First State Bank is a smaller bank specializing in Home Purchase and Refi loans. First State 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: Omaha, North Platte, Los Angeles, Lexington, and Fremont among others. We have data for 24 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 an above 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 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
30 Year Conventional Purchase 6.61% 2/19/24
30 Year Conventional Refi 6.56% 2/19/24
30 Year Cash-out Refi 6.63% 2/19/24
30 Year FHA Purchase 7.13% 2/19/24
30 Year VA Purchase 6.15% 2/19/24
30 Year USDA Purchase 6.69% 2/19/24
15 Year Conventional Purchase 5.68% 2/19/24
15 Year Conventional Refi 5.99% 2/19/24
15 Year Cash-out Refi 5.99% 2/19/24
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

351

Origination Dollar Volume (All Markets)

$81,755,000

Relative Rate

First State Bank's average 30 year fixed mortgage rate was 4.65%.

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

This yields a difference of -0.11%.

Relative Fees (Closing Costs)

First State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,447.

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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 166 $36,430,000 $219,458 $3,137 5.03%
North Platte, NE (FHA|USDA|VA) 71 $10,725,000 $151,056 $3,148 4.69%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $7,795,000 $1,559,000 $0 4.75%
Lexington, NE (FHA|USDA|VA) 39 $5,375,000 $137,821 $2,916 4.51%
Outside of Metro Areas 19 $4,515,000 $237,632 $2,970 4.70%
Fremont, NE (FHA|USDA|VA) 1 $3,905,000 $3,905,000 $0 4.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 12 $2,860,000 $238,333 $0 5.35%
LINCOLN, NE (FHA|USDA|VA) 11 $2,175,000 $197,727 $2,573 5.32%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $2,020,000 $1,010,000 $0 6.00%
Branson, MO (FHA|USDA|VA) 3 $625,000 $208,333 $0 4.92%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $590,000 $295,000 $3,000 5.13%
Kearney, NE (FHA|USDA|VA) 5 $585,000 $117,000 $1,442 3.93%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $535,000 $535,000 $2,575 5.38%
Payson, AZ (FHA|USDA|VA) 3 $495,000 $165,000 $0 5.58%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $405,000 $405,000 $3,394 3.63%
TUCSON, AZ (FHA|USDA|VA) 1 $395,000 $395,000 $0 4.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $385,000 $385,000 $2,229 4.90%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $365,000 $365,000 $3,554 3.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $345,000 $345,000 $4,106 4.75%
FLAGSTAFF, AZ (FHA|USDA|VA) 2 $320,000 $160,000 $0 4.38%
Aberdeen, SD (FHA|USDA|VA) 1 $305,000 $305,000 $3,227 5.50%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.25%
MANHATTAN, KS (FHA|USDA|VA) 1 $215,000 $215,000 $1,347 3.13%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $165,000 $165,000 $2,794 5.00%
First State Bank's top markets include Omaha, North Platte, Los Angeles, Lexington, and Fremont among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 304 $73,320,000 $241,184 $2,211 4.93%
    FHA 24 $3,940,000 $164,167 $5,575 4.36%
    VA 13 $3,195,000 $245,769 $7,076 4.50%
    USDA 10 $1,300,000 $130,000 $4,110 5.05%

    For 2022, First State Bank's most frequently originated type of loan was Conventional, with 304 originations. Their 2nd most popular type was FHA, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 256 $59,450,000 $232,227 $3,394 4.91%
    Refi 56 $16,440,000 $293,571 $1,683 4.90%
    Home Improvement 19 $2,275,000 $119,737 $817 4.88%
    Cash Out Refi 19 $3,535,000 $186,053 $2,095 4.37%
    Other 1 $55,000 $55,000 $0 5.00%

    For 2022, First State Bank's most frequently cited loan purpose was Home Purchase, with 256 originations. The 2nd most popular reason was Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 143 $29,885,000 $208,986 $3,447 4.65%
    Other 71 $20,595,000 $290,070 $2,291 5.28%
    20 Year 56 $8,160,000 $145,714 $784 5.13%
    5 Year 35 $8,685,000 $248,143 $585 4.73%
    1 Year 21 $6,225,000 $296,429 $0 5.50%
    15 Year 14 $7,210,000 $515,000 $1,807 4.29%
    10 Year 11 $995,000 $90,455 $4 3.94%

    For 2022, First State Bank's most frequently cited loan duration was 30 Year, with 143 originations. The 2nd most popular length was Other, with 71 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 115 $19,365,000 $168,391
    $1k-2k 76 $19,760,000 $260,000
    $2k-3k 2 $490,000 $245,000
    $3k-4k 2 $340,000 $170,000

    First State Bank's average total fees were $3,447, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 115 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 138 $34,780,000 $252,029
    5-6% 111 $29,735,000 $267,883
    3-4% 54 $11,120,000 $205,926
    6-7% 26 $4,350,000 $167,308
    <2.5% 8 $170,000 $21,250
    2.5-3% 7 $1,085,000 $155,000
    7-8% 5 $425,000 $85,000
    Over 8% 2 $90,000 $45,000

    During 2022, First State Bank's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 125 $18,085,000 $144,680 $3,184 4.87%
    $200k-400k 119 $32,465,000 $272,815 $2,949 4.97%
    $100,000 or less 84 $5,410,000 $64,405 $1,817 4.81%
    $400k-600k 12 $5,390,000 $449,167 $5,836 4.42%
    $1MM+ 9 $18,445,000 $2,049,444 $0 4.90%
    $600k-1MM 2 $1,960,000 $980,000 $0 5.13%

    2022 saw First State Bank place emphasis on $100k-200k loans with 125 originations, totaling $18,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 63 $10,635,000 $168,810 $2,861 4.48%
    $50k or less 56 $6,490,000 $115,893 $2,959 4.57%
    $100k-150k 45 $11,675,000 $259,444 $3,206 4.63%
    $75k-100k 32 $7,510,000 $234,688 $3,121 5.08%
    $150k-250k 14 $4,390,000 $313,571 $3,806 4.63%
    $250k+ 6 $1,440,000 $240,000 $2,127 4.94%

    First State Bank lent most frequently to those with incomes in the $50k-75k range, with 63 originations. The second most popular income band? $50k or less, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 39 $7,445,000 $190,897 $2,916 4.53%
    20-30% 30 $5,000,000 $166,667 $2,455 4.45%
    37% 17 $2,975,000 $175,000 $3,339 4.79%
    39% 13 $2,835,000 $218,077 $4,339 4.88%
    43% 11 $2,445,000 $222,273 $2,556 4.43%
    41% 11 $1,945,000 $176,818 $3,260 4.49%
    48% 11 $2,185,000 $198,636 $3,346 4.24%
    36% 10 $1,670,000 $167,000 $3,223 4.75%
    38% 10 $2,310,000 $231,000 $2,455 4.54%
    <20% 9 $1,715,000 $190,556 $1,737 4.49%
    40% 8 $2,690,000 $336,250 $4,276 4.91%
    44% 8 $1,840,000 $230,000 $3,464 4.51%
    45% 8 $1,380,000 $172,500 $3,080 4.48%
    42% 4 $660,000 $165,000 $2,149 5.34%
    46% 4 $1,150,000 $287,500 $2,813 4.31%
    47% 4 $720,000 $180,000 $2,751 5.31%
    50-60% 4 $710,000 $177,500 $5,150 5.00%
    >60% 2 $230,000 $115,000 $0 5.13%
    49% 2 $490,000 $245,000 $2,429 5.63%

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

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 211 $40,715,000 $192,962 $3,038 4.64%
    Not applicable 130 $39,100,000 $300,769 $2,229 5.24%
    Black 4 $860,000 $215,000 $3,826 5.28%
    Not provided 4 $570,000 $142,500 $3,131 5.13%
    Asian 2 $510,000 $255,000 $1,903 5.00%

    Approval Rates

    Total approvals of all applications
    94.59%

    First State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.60%

    First State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 351 $81,755,000 $232,920

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    351 $81,755,000 $232,920

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $6,400,000 $228,571 $1,468 4.76%
    40-60% 34 $9,270,000 $272,647 $1,943 4.69%
    60-80% 117 $30,785,000 $263,120 $2,297 5.26%
    80-100% 147 $29,085,000 $197,857 $3,326 4.76%
    Over 100% 6 $5,070,000 $845,000 $14,491 4.67%
    Under 20% 19 $1,145,000 $60,263 $342 4.00%

    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%