The First National Bank Of Middle Tennessee Mortgage Rates, Fees & Info

McMinnville, TN

LEI: 549300RP3DLR09NF6157

Tax ID: 62-1203303

5 stars - Updated: 4/14/24 - out of 5 stars, based on 18 reviews

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

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Mortgage Data

Review & Overview

The First National Bank Of Middle Tennessee is a smaller bank specializing in Home Purchase loans. The First National Bank Of Middle Tennessee 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: Nashville, Mcminnville, Shelbyville, Tullahoma, and Crestview among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)

The First National Bank Of Middle Tennessee has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The First National Bank Of Middle Tennessee 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 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 6.80% 4/14/24
30 Year Conventional Refi 6.66% 4/14/24
30 Year Cash-out Refi 6.75% 4/14/24
30 Year FHA Purchase 7.24% 4/14/24
30 Year FHA Refi 6.99% 4/14/24
30 Year VA Purchase 6.27% 4/14/24
30 Year USDA Purchase 6.64% 4/14/24
15 Year Conventional Purchase 6.50% 4/14/24
15 Year Conventional Refi 6.31% 4/14/24
15 Year Cash-out Refi 6.31% 4/14/24
15 Year VA Purchase 6.26% 4/14/24
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.

The First National Bank Of Middle Tennessee Mortgage Calculator






Your Estimates

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

This is not an official calculator from The First National Bank Of Middle Tennessee. 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

342

Origination Dollar Volume (All Markets)

$124,720,000

Awards

The First National Bank of Middle Tennessee FHA Loans gold The First National Bank of Middle Tennessee USDA Loans gold
Show all (2) awards

Relative Rate

The First National Bank Of Middle Tennessee's average 30 year fixed mortgage rate was 6.6%.

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

This yields a difference of 0.12%.

Relative Fees (Closing Costs)

The First National Bank Of Middle Tennessee's average total fees/closing costs for a 30 year fixed rate mortgage were $8,549.

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
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 162 $68,120,000 $420,494 $8,938 6.92%
McMinnville, TN (FHA|USDA|VA) 62 $13,360,000 $215,484 $6,979 6.96%
Outside of Metro Areas 20 $7,080,000 $354,000 $6,734 6.54%
Shelbyville, TN (FHA|USDA|VA) 28 $6,770,000 $241,786 $7,544 6.89%
Tullahoma-Manchester, TN (FHA|USDA|VA) 16 $4,070,000 $254,375 $7,747 6.69%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $3,220,000 $1,610,000 $10,052 7.19%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $2,875,000 $2,875,000 $0 6.95%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $2,070,000 $517,500 $11,875 6.22%
JACKSON, TN (FHA|USDA|VA) 9 $1,915,000 $212,778 $7,107 6.76%
Jackson, WY-ID (FHA|USDA|VA) 1 $1,725,000 $1,725,000 $0 7.35%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,560,000 $390,000 $0 6.89%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 6 $1,530,000 $255,000 $8,492 6.42%
Cullman, AL (FHA|USDA|VA) 1 $1,325,000 $1,325,000 $0 8.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 6.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $945,000 $945,000 $0 7.45%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $785,000 $785,000 $0 6.75%
Dayton, TN (FHA|USDA|VA) 4 $690,000 $172,500 $4,994 7.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $580,000 $290,000 $7,635 7.13%
Sevierville, TN (FHA|USDA|VA) 1 $575,000 $575,000 $0 7.75%
Crossville, TN (FHA|USDA|VA) 3 $565,000 $188,333 $7,342 6.54%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $555,000 $555,000 $0 7.75%
TYLER, TX (FHA|USDA|VA) 1 $535,000 $535,000 $10,903 6.63%
FLINT, MI (FHA|USDA|VA) 1 $475,000 $475,000 $0 6.95%
BOWLING GREEN, KY (FHA|USDA|VA) 2 $400,000 $200,000 $0 6.63%
SAVANNAH, GA (FHA|USDA|VA) 1 $375,000 $375,000 $8,080 6.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $335,000 $335,000 $0 7.63%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $305,000 $305,000 $12,996 6.75%
Lawrenceburg, TN (FHA|USDA|VA) 1 $205,000 $205,000 $7,887 5.63%
Cookeville, TN (FHA|USDA|VA) 1 $155,000 $155,000 $4,460 6.50%
Lewisburg, TN (FHA|USDA|VA) 1 $145,000 $145,000 $2,702 7.50%
KNOXVILLE, TN (FHA|USDA|VA) 1 $145,000 $145,000 $3,458 6.63%
Corinth, MS (FHA|USDA|VA) 1 $125,000 $125,000 $4,748 6.13%
The First National Bank Of Middle Tennessee's top markets include Nashville, Mcminnville, Shelbyville, Tullahoma, and Crestview among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 241 $93,795,000 $389,191 $5,992 7.08%
    FHA 77 $23,695,000 $307,727 $12,295 6.45%
    VA 12 $4,570,000 $380,833 $9,882 6.20%
    USDA 12 $2,660,000 $221,667 $7,247 6.01%

    For 2023, The First National Bank Of Middle Tennessee's most frequently originated type of loan was Conventional, with 241 originations. Their 2nd most popular type was FHA, with 77 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 269 $104,365,000 $387,974 $8,395 6.81%
    Refi 43 $14,265,000 $331,744 $7,791 6.87%
    Cash Out Refi 18 $4,920,000 $273,333 $8,138 6.90%
    Home Improvement 10 $890,000 $89,000 $1,734 8.13%
    Other 2 $280,000 $140,000 $1,743 8.50%

    For 2023, The First National Bank Of Middle Tennessee's most frequently cited loan purpose was Home Purchase, with 269 originations. The 2nd most popular reason was Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 263 $102,695,000 $390,475 $8,549 6.60%
    Other 22 $6,080,000 $276,364 $3,223 7.98%
    10 Year 20 $5,520,000 $276,000 $1,620 7.49%
    5 Year 18 $5,800,000 $322,222 $0 7.66%
    1 Year 10 $3,270,000 $327,000 $4,513 8.15%
    20 Year 6 $820,000 $136,667 $4,497 7.53%
    15 Year 3 $535,000 $178,333 $3,981 7.54%

    For 2023, The First National Bank Of Middle Tennessee's most frequently cited loan duration was 30 Year, with 263 originations. The 2nd most popular length was Other, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 64 $27,990,000 $437,344
    $2k-3k 49 $10,815,000 $220,714
    $3k-4k 44 $13,120,000 $298,182
    $<1k 41 $10,275,000 $250,610
    $1k-2k 36 $8,490,000 $235,833
    $4k-5k 29 $10,155,000 $350,172

    The First National Bank Of Middle Tennessee's average total fees were $8,549, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 64 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 159 $58,025,000 $364,937
    7-8% 90 $38,690,000 $429,889
    5-6% 56 $16,220,000 $289,643
    Over 8% 37 $11,785,000 $318,514

    During 2023, The First National Bank Of Middle Tennessee's average interest rate for loans was 6.60%, while their most frequently originated rate bucket for loans was 6-7%, with 159 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 172 $48,390,000 $281,337 $8,198 6.70%
    $100k-200k 63 $9,705,000 $154,048 $4,731 6.92%
    $400k-600k 46 $21,960,000 $477,391 $11,608 6.88%
    $100,000 or less 25 $1,565,000 $62,600 $2,375 7.55%
    $600k-1MM 24 $17,170,000 $715,417 $12,459 6.98%
    $1MM+ 12 $25,930,000 $2,160,833 $13,967 7.41%

    2023 saw The First National Bank Of Middle Tennessee place emphasis on $200k-400k loans with 172 originations, totaling $48,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 75 $15,015,000 $200,200 $6,596 6.75%
    $75k-100k 64 $18,890,000 $295,156 $8,807 6.62%
    $100k-150k 63 $22,585,000 $358,492 $10,601 6.87%
    $50k or less 36 $4,820,000 $133,889 $4,613 6.50%
    $150k-250k 34 $13,510,000 $397,353 $9,347 6.91%
    $250k+ 28 $14,140,000 $505,000 $7,534 7.36%

    The First National Bank Of Middle Tennessee lent most frequently to those with incomes in the $50k-75k range, with 75 originations. The second most popular income band? $75k-100k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 42 $11,310,000 $269,286 $6,430 6.83%
    20-30% 28 $8,340,000 $297,857 $5,930 6.53%
    50-60% 27 $8,905,000 $329,815 $11,759 6.76%
    44% 18 $5,250,000 $291,667 $9,673 6.25%
    43% 17 $4,425,000 $260,294 $6,408 6.61%
    45% 17 $5,765,000 $339,118 $9,223 6.69%
    46% 13 $4,235,000 $325,769 $9,082 6.81%
    49% 12 $3,910,000 $325,833 $7,983 6.53%
    48% 12 $4,630,000 $385,833 $9,663 6.71%
    42% 11 $3,355,000 $305,000 $6,301 7.15%
    41% 11 $2,935,000 $266,818 $8,343 6.81%
    39% 11 $3,035,000 $275,909 $7,471 6.89%
    36% 11 $3,535,000 $321,364 $8,062 6.77%
    37% 9 $2,735,000 $303,889 $7,665 6.60%
    <20% 8 $3,020,000 $377,500 $7,325 6.59%
    40% 8 $2,260,000 $282,500 $8,260 6.98%
    47% 8 $2,600,000 $325,000 $8,540 6.47%
    38% 6 $1,430,000 $238,333 $10,236 5.92%
    >60% 2 $680,000 $340,000 $6,589 6.69%

    The First National Bank Of Middle Tennessee lent most frequently to those with DTI ratios of 30-36%, with 42 originations. The next most common DTI ratio? 20-30%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 277 $80,805,000 $291,715 $7,870 6.79%
    Not applicable 40 $34,930,000 $873,250 $0 7.42%
    Black 12 $5,280,000 $440,000 $12,367 7.14%
    Not provided 8 $2,100,000 $262,500 $8,865 6.63%
    Asian 4 $1,450,000 $362,500 $10,597 6.50%
    Vietnamese 1 $155,000 $155,000 $2,037 8.50%

    Approval Rates

    Total approvals of all applications
    89.36%

    The First National Bank Of Middle Tennessee has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.77%

    The First National Bank Of Middle Tennessee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 342 $124,720,000 $364,678

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    342 $124,720,000 $364,678

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $7,415,000 $211,857 $3,845 7.21%
    40-60% 36 $7,760,000 $215,556 $4,746 7.01%
    60-80% 86 $46,320,000 $538,605 $7,827 6.91%
    80-100% 175 $61,815,000 $353,229 $9,661 6.70%
    Over 100% 3 $985,000 $328,333 $13,206 6.58%
    Under 20% 7 $425,000 $60,714 $1,791 8.29%