First State Bank Mortgage Rates, Fees & Info
Buxton, NDLEI: 549300R8N9KVQUKVNJ71
Tax ID: 45-0134685
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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. Their top markets by origination volume include: Grand Forks, Phoenix, Minneapolis, Fargo, and Jamestown among others. We have data for 6 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.
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Originations
86Origination Dollar Volume (All Markets)
$22,060,000Top 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 |
|---|---|---|---|---|---|
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 59 | $13,695,000 | $232,119 | $0 | 0.00% |
| Outside of Metro Areas | 20 | $6,320,000 | $316,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $0 | 0.00% |
| FARGO, ND-MN (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| Jamestown, ND (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 86 | $22,060,000 | $256,512 | $0 | 0.00% |
For 2022, First State Bank's most frequently originated type of loan was Conventional, with 86 originations.
Loan Reason
For 2022, First State Bank's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 86 | $22,060,000 | $256,512 | $0 | 0.00% |
For 2022, First State Bank's most frequently cited loan duration was Other, with 86 originations.
Loan Sizing
2022 saw First State Bank place emphasis on $100k-200k loans with 29 originations, totaling $4,555,000 in origination value.
Applicant Income
First State Bank lent most frequently to those with incomes in the $150k-250k range, with 14 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 86 | $22,060,000 | $256,512 | $0 | 0.00% |
First State Bank lent most frequently to those with DTI ratios of Exempt%, with 86 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 52 | $12,600,000 | $242,308 | $0 | 0.00% |
| Not applicable | 34 | $9,460,000 | $278,235 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.75%
First State 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 origination98.84%
First State Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 86 | $22,060,000 | $256,512 |
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% |