The First National Bank Of Middle Tennessee Mortgage Rates, Fees & Info
McMinnville, TNLEI: 549300RP3DLR09NF6157
Tax ID: 62-1203303
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 4/24/24 |
| 30 Year Conventional Refi | 6.66% | 4/24/24 |
| 30 Year Cash-out Refi | 6.75% | 4/24/24 |
| 30 Year FHA Purchase | 7.24% | 4/24/24 |
| 30 Year FHA Refi | 6.99% | 4/24/24 |
| 30 Year VA Purchase | 6.27% | 4/24/24 |
| 30 Year USDA Purchase | 6.64% | 4/24/24 |
| 15 Year Conventional Purchase | 6.50% | 4/24/24 |
| 15 Year Conventional Refi | 6.31% | 4/24/24 |
| 15 Year Cash-out Refi | 6.31% | 4/24/24 |
| 15 Year VA Purchase | 6.26% | 4/24/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
342Origination Dollar Volume (All Markets)
$124,720,000Awards
The First National Bank of Middle Tennessee - 2023
The First National Bank of Middle Tennessee is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
Similar Lenders
We use machine learning to identify the top lenders compared against The First National Bank of Middle Tennessee based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications89.36%
The First National Bank Of Middle Tennessee has an average approval rate.
Pick Rate
Approvals leading to origination89.77%
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 |