First Vision Bank Of Tennessee Mortgage Rates, Fees & Info

Tullahoma, TN

LEI: 549300W40F67Y6WWQX34

Tax ID: 20-3376201

5 stars - Updated: 6/9/24 - out of 5 stars, based on 17 reviews

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

Jump to:

Mortgage Data

Review & Overview

First Vision Bank Of Tennessee is a smaller bank specializing in Home Purchase and Refi loans. First Vision Bank Of Tennessee has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Tullahoma, Nashville, Shelbyville, Chattanooga, and Mcminnville among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Vision Bank Of Tennessee 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 Vision Bank Of Tennessee is typically an average 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
Home Equity Line of Credit (HELOC) 6.27% 6/9/24
30 Year Conventional Purchase 6.52% 6/9/24
30 Year Conventional Refi 6.51% 6/9/24
30 Year Cash-out Refi 6.63% 6/9/24
30 Year FHA Purchase 7.21% 6/9/24
30 Year FHA Refi 7.20% 6/9/24
30 Year VA Purchase 6.60% 6/9/24
30 Year USDA Purchase 6.73% 6/9/24
15 Year Conventional Purchase 6.00% 6/9/24
15 Year Conventional Refi 6.21% 6/9/24
15 Year Cash-out Refi 6.21% 6/9/24
15 Year VA Refi 5.68% 6/9/24
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 Vision Bank Of Tennessee Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Vision Bank Of 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

286

Origination Dollar Volume (All Markets)

$76,530,000

Awards

First Vision Bank of Tennessee FHA Loans silver First Vision Bank of Tennessee USDA Loans gold First Vision Bank of Tennessee USDA Loans gold First Vision Bank of Tennessee USDA Loans bronze
Show all (4) awards

Relative Rate

First Vision Bank Of Tennessee's average 30 year fixed mortgage rate was 6.16%.

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

This yields a difference of -0.32%.

Relative Fees (Closing Costs)

First Vision Bank Of Tennessee's average total fees/closing costs for a 30 year fixed rate mortgage were $7,214.

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
Tullahoma-Manchester, TN (FHA|USDA|VA) 180 $42,310,000 $235,056 $6,649 6.64%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 60 $22,780,000 $379,667 $7,421 6.77%
Shelbyville, TN (FHA|USDA|VA) 9 $2,445,000 $271,667 $5,891 7.18%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 6 $1,610,000 $268,333 $7,814 6.92%
Outside of Metro Areas 11 $1,575,000 $143,182 $4,636 6.61%
McMinnville, TN (FHA|USDA|VA) 6 $1,100,000 $183,333 $5,854 6.56%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $740,000 $370,000 $10,985 7.00%
Lewisburg, TN (FHA|USDA|VA) 1 $725,000 $725,000 $5,024 7.13%
CLEVELAND, TN (FHA|USDA|VA) 1 $685,000 $685,000 $10,037 6.99%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $560,000 $280,000 $8,841 7.13%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $405,000 $405,000 $0 6.00%
Somerset, KY (FHA|USDA|VA) 1 $395,000 $395,000 $6,345 7.25%
KNOXVILLE, TN (FHA|USDA|VA) 1 $385,000 $385,000 $8,008 6.25%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $9,901 7.63%
GOLDSBORO, NC (FHA|USDA|VA) 1 $195,000 $195,000 $3,217 6.38%
DALTON, GA (FHA|USDA|VA) 1 $145,000 $145,000 $5,330 6.38%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $135,000 $135,000 $3,832 6.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $115,000 $115,000 $4,252 5.25%
First Vision Bank Of Tennessee's top markets include Tullahoma, Nashville, Shelbyville, Chattanooga, and Mcminnville among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

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

    First Farmers and Merchants Bank
    Similarity Rank: 130
    Citizens Tri-County Bank
    Similarity Rank: 210
    US COMMUNITY
    Similarity Rank: 472
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 736
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 848
    CORNERSTONE FINANCIAL CREDIT UNION
    Similarity Rank: 864
    The Farmers Bank
    Similarity Rank: 972
    SHELTER LENDING SERVICES, L.L.C.
    Similarity Rank: 1183
    ASCEND FEDERAL CREDIT UNION
    Similarity Rank: 1462
    Listerhill Credit Union
    Similarity Rank: 1513

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $57,255,000 $268,803 $4,870 6.80%
    FHA 46 $11,690,000 $254,130 $10,965 6.46%
    USDA 20 $4,570,000 $228,500 $8,475 6.21%
    VA 7 $3,015,000 $430,714 $13,136 6.23%

    For 2023, First Vision Bank Of Tennessee's most frequently originated type of loan was Conventional, with 213 originations. Their 2nd most popular type was FHA, with 46 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 188 $46,690,000 $248,351 $6,875 6.32%
    Refi 58 $20,710,000 $357,069 $4,784 7.74%
    Cash Out Refi 27 $7,515,000 $278,333 $8,795 6.63%
    Home Improvement 7 $905,000 $129,286 $5,916 7.93%
    Other 6 $710,000 $118,333 $1,763 6.83%

    For 2023, First Vision Bank Of Tennessee's most frequently cited loan purpose was Home Purchase, with 188 originations. The 2nd most popular reason was Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 201 $51,795,000 $257,687 $7,214 6.16%
    Other 21 $4,755,000 $226,429 $2,265 8.26%
    20 Year 17 $6,405,000 $376,765 $2,170 7.32%
    3 Year 15 $4,965,000 $331,000 $2,175 7.95%
    15 Year 11 $1,035,000 $94,091 $1,577 8.13%
    1 Year 10 $2,560,000 $256,000 $0 8.13%
    5 Year 9 $3,365,000 $373,889 $0 7.61%
    10 Year 2 $1,650,000 $825,000 $814 9.25%

    For 2023, First Vision Bank Of Tennessee's most frequently cited loan duration was 30 Year, with 201 originations. The 2nd most popular length was Other, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 45 $9,825,000 $218,333
    $5k+ 43 $18,325,000 $426,163
    $<1k 38 $3,270,000 $86,053
    $4k-5k 34 $9,810,000 $288,529
    $2k-3k 31 $7,915,000 $255,323
    $1k-2k 29 $6,345,000 $218,793

    First Vision Bank Of Tennessee's average total fees were $7,214, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 45 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 102 $28,990,000 $284,216
    7-8% 63 $21,485,000 $341,032
    5-6% 57 $12,505,000 $219,386
    Over 8% 47 $10,005,000 $212,872
    <2.5% 11 $135,000 $12,273
    4-5% 6 $3,410,000 $568,333

    During 2023, First Vision Bank Of Tennessee's average interest rate for loans was 6.16%, while their most frequently originated rate bucket for loans was 6-7%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 116 $32,540,000 $280,517 $8,121 6.73%
    $100k-200k 68 $10,190,000 $149,853 $5,469 7.05%
    $100,000 or less 54 $1,700,000 $31,481 $588 5.78%
    $400k-600k 30 $14,290,000 $476,333 $10,928 7.12%
    $600k-1MM 14 $10,070,000 $719,286 $8,002 7.14%
    $1MM+ 4 $7,740,000 $1,935,000 $31,816 6.97%

    2023 saw First Vision Bank Of Tennessee place emphasis on $200k-400k loans with 116 originations, totaling $32,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 61 $18,575,000 $304,508 $8,090 6.80%
    $50k-75k 58 $9,050,000 $156,034 $6,104 6.17%
    $75k-100k 56 $12,280,000 $219,286 $7,012 6.19%
    $50k or less 30 $3,140,000 $104,667 $4,307 6.04%
    $150k-250k 25 $9,935,000 $397,400 $7,670 7.22%
    $250k+ 25 $10,705,000 $428,200 $6,450 7.47%

    First Vision Bank Of Tennessee lent most frequently to those with incomes in the $100k-150k range, with 61 originations. The second most popular income band? $50k-75k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 38 $9,730,000 $256,053 $5,342 6.78%
    30-36% 37 $8,015,000 $216,622 $5,860 6.46%
    44% 22 $4,650,000 $211,364 $6,654 5.73%
    42% 18 $4,090,000 $227,222 $6,505 5.59%
    37% 14 $2,870,000 $205,000 $6,541 5.69%
    36% 13 $2,315,000 $178,077 $5,465 6.60%
    40% 13 $2,125,000 $163,462 $6,042 5.79%
    <20% 11 $2,075,000 $188,636 $4,627 7.31%
    38% 11 $2,705,000 $245,909 $5,923 6.87%
    41% 11 $2,905,000 $264,091 $6,135 6.41%
    48% 9 $2,915,000 $323,889 $11,619 6.65%
    43% 8 $2,380,000 $297,500 $7,552 6.79%
    50-60% 7 $2,745,000 $392,143 $13,203 6.68%
    49% 7 $2,735,000 $390,714 $12,381 6.62%
    45% 6 $2,050,000 $341,667 $7,572 6.77%
    39% 6 $1,000,000 $166,667 $4,423 7.56%
    47% 3 $685,000 $228,333 $7,016 6.99%
    46% 3 $1,705,000 $568,333 $11,421 6.63%

    First Vision Bank Of Tennessee lent most frequently to those with DTI ratios of 20-30%, with 38 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $60,490,000 $243,911 $6,706 6.55%
    Not applicable 23 $11,825,000 $514,130 $0 7.90%
    Not provided 6 $1,780,000 $296,667 $6,488 7.17%
    Asian 3 $1,425,000 $475,000 $7,025 7.96%
    American Indian 2 $480,000 $240,000 $9,358 5.56%
    Black 3 $275,000 $91,667 $7,269 7.33%
    Asian Indian 1 $255,000 $255,000 $7,405 6.38%

    Approval Rates

    Total approvals of all applications
    95.87%

    First Vision Bank Of Tennessee has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.36%

    First Vision Bank Of Tennessee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 286 $76,530,000 $267,587

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    286 $76,530,000 $267,587

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $3,515,000 $167,381 $3,286 7.04%
    40-60% 45 $17,485,000 $388,556 $5,429 7.27%
    60-80% 65 $19,905,000 $306,231 $7,337 7.13%
    80-100% 118 $34,340,000 $291,017 $9,051 6.72%
    Over 100% 1 $315,000 $315,000 $10,132 6.63%
    Under 20% 35 $965,000 $27,571 $264 4.77%