First Vision Bank Of Tennessee Mortgage Rates, Fees & Info

Tullahoma, TN

LEI: 549300W40F67Y6WWQX34

Tax ID: 20-3376201

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Mortgage Data

Bank 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 two markets are Nashville and Tullahoma .

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 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/28/24
30 Year Conventional Purchase 6.52% 3/28/24
30 Year Conventional Refi 6.51% 3/28/24
30 Year Cash-out Refi 6.63% 3/28/24
30 Year FHA Purchase 7.21% 3/28/24
30 Year FHA Refi 7.20% 3/28/24
30 Year VA Purchase 6.60% 3/28/24
30 Year USDA Purchase 6.73% 3/28/24
15 Year Conventional Purchase 6.00% 3/28/24
15 Year Conventional Refi 6.21% 3/28/24
15 Year Cash-out Refi 6.21% 3/28/24
15 Year VA Refi 5.68% 3/28/24
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

769

Origination Dollar Volume (All Markets)

$182,145,000

Employee count

68

Awards

First Vision Bank of Tennessee VA Loans silver
Show all (1) awards

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
Outside of Metro Areas 489 $104,875,000 $214,468 $3,904 3.33%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 272 $75,250,000 $276,654 $4,393 3.05%
Tullahoma-Manchester, TN (FHA|USDA|VA) 8 $2,020,000 $252,500 $3,645 2.98%
First Vision Bank Of Tennessee's top markets include Nashville and Tullahoma among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Colorado (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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 609 $145,465,000 $238,859 $3,399 3.32%
    FHA 77 $17,725,000 $230,195 $7,633 2.91%
    USDA 47 $9,175,000 $195,213 $5,285 2.87%
    VA 36 $9,780,000 $271,667 $4,395 2.75%

    For 2021, First Vision Bank Of Tennessee's most frequently originated type of loan was Conventional, with 609 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 369 $97,875,000 $265,244 $4,825 3.18%
    Refi 227 $49,405,000 $217,643 $3,071 3.38%
    Cash Out Refi 148 $30,480,000 $205,946 $3,822 2.99%
    Home Improvement 20 $4,080,000 $204,000 $3,314 3.70%
    Other 5 $305,000 $61,000 $1,234 4.95%

    For 2021, First Vision Bank Of Tennessee's most frequently cited loan purpose was Home Purchase, with 369 originations. The 2nd most popular reason was Refi, with 227 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 499 $127,085,000 $254,679 $4,537 2.98%
    Other 82 $19,500,000 $237,805 $3,299 3.66%
    15 Year 79 $13,245,000 $167,658 $2,736 2.85%
    5 Year 36 $5,860,000 $162,778 $685 4.65%
    20 Year 29 $5,875,000 $202,586 $2,889 3.86%
    3 Year 17 $2,785,000 $163,824 $539 5.17%
    10 Year 15 $3,315,000 $221,000 $1,873 3.62%
    1 Year 12 $4,480,000 $373,333 $1,965 4.61%

    For 2021, First Vision Bank Of Tennessee's most frequently cited loan duration was 30 Year, with 499 originations. The 2nd most popular length was Other, with 82 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 523 $128,555,000 $245,803
    $2k-3k 53 $12,755,000 $240,660
    $<1k 49 $4,525,000 $92,347
    $3k-4k 24 $7,340,000 $305,833
    $4k-5k 9 $3,075,000 $341,667
    $5k+ 4 $1,560,000 $390,000

    First Vision Bank Of Tennessee's average total fees were $4,537, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 523 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 353 $86,565,000 $245,227
    3-4% 204 $54,430,000 $266,814
    <2.5% 92 $18,760,000 $203,913
    4-5% 86 $17,600,000 $204,651
    5-6% 23 $2,015,000 $87,609
    6-7% 2 $180,000 $90,000
    7-8% 1 $55,000 $55,000

    During 2021, First Vision Bank Of Tennessee's average interest rate for loans was 2.98%, while their most frequently originated rate bucket for loans was 2.5-3%, with 353 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 332 $91,550,000 $275,753 $4,631 3.00%
    $100k-200k 253 $39,185,000 $154,881 $3,673 3.17%
    $100,000 or less 103 $6,515,000 $63,252 $2,049 4.09%
    $400k-600k 65 $30,665,000 $471,769 $4,774 3.08%
    $600k-1MM 12 $8,380,000 $698,333 $5,713 3.89%
    $1MM+ 4 $5,850,000 $1,462,500 $0 4.22%

    2021 saw First Vision Bank Of Tennessee place emphasis on $200k-400k loans with 332 originations, totaling $91,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 214 $44,210,000 $206,589 $4,326 3.12%
    $50k or less 172 $25,370,000 $147,500 $3,897 3.15%
    $100k-150k 127 $35,055,000 $276,024 $4,121 3.13%
    $75k-100k 110 $26,450,000 $240,455 $4,066 3.12%
    $150k-250k 63 $21,115,000 $335,159 $3,789 3.26%
    $250k+ 30 $12,200,000 $406,667 $4,269 3.54%

    First Vision Bank Of Tennessee lent most frequently to those with incomes in the $50k-75k range, with 214 originations. The second most popular income band? $50k or less, with 172 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 149 $35,455,000 $237,953 $3,957 3.08%
    20-30% 139 $30,365,000 $218,453 $3,525 3.06%
    <20% 74 $15,170,000 $205,000 $2,948 3.36%
    40% 33 $6,405,000 $194,091 $4,235 3.09%
    44% 31 $8,205,000 $264,677 $3,923 2.93%
    41% 31 $8,675,000 $279,839 $4,786 3.12%
    38% 27 $6,475,000 $239,815 $4,080 3.12%
    36% 27 $6,525,000 $241,667 $4,150 3.16%
    42% 25 $5,985,000 $239,400 $4,702 3.24%
    39% 25 $6,185,000 $247,400 $4,581 3.27%
    43% 24 $4,710,000 $196,250 $4,944 3.44%
    37% 22 $5,490,000 $249,545 $3,953 2.95%
    45% 22 $5,450,000 $247,727 $4,229 2.98%
    50-60% 21 $5,565,000 $265,000 $7,104 2.91%
    46% 16 $4,270,000 $266,875 $3,568 3.08%
    47% 13 $2,785,000 $214,231 $5,518 2.86%
    49% 10 $2,620,000 $262,000 $6,091 2.99%
    48% 9 $2,075,000 $230,556 $5,568 3.08%
    >60% 3 $545,000 $181,667 $3,217 4.33%

    First Vision Bank Of Tennessee lent most frequently to those with DTI ratios of 30-36%, with 149 originations. The next most common DTI ratio? 20-30%, with 139 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 658 $152,870,000 $232,325 $4,054 3.17%
    Not applicable 36 $11,560,000 $321,111 $0 4.42%
    Black 49 $11,525,000 $235,204 $4,614 3.14%
    Not provided 19 $4,295,000 $226,053 $3,615 3.14%
    Asian 5 $1,585,000 $317,000 $4,277 2.85%
    American Indian 1 $215,000 $215,000 $3,100 3.25%
    Asian Indian 1 $95,000 $95,000 $0 5.00%

    Approval Rates

    Total approvals of all applications
    96.40%

    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
    78.41%

    First Vision Bank Of Tennessee has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 769 $182,145,000 $236,860

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    769 $182,145,000 $236,860

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $4,800,000 $120,000 $2,309 4.07%
    40-60% 121 $27,515,000 $227,397 $3,306 3.22%
    60-80% 251 $62,315,000 $248,267 $3,617 3.30%
    80-100% 286 $76,040,000 $265,874 $5,309 3.07%
    Over 100% 11 $2,425,000 $220,455 $4,269 3.76%
    Under 20% 18 $620,000 $34,444 $613 4.05%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Other type of mortgage Struggling to pay mortgage 1 25.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 1 25.0%
    FIRST NATIONAL BANK OF OMAHA FHA mortgage Improper use of your report 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Vision Bank of Tennessee 2134 Hillsboro Blvd. Manchester, TN 37355 Full Service B&M $42,237
    First Vision Bank of Tennessee 2165 Decherd Boulevard Decherd, TN 37324 Full Service B&M $114,442
    First Vision Bank of Tennessee 1401 North Jackson Street Tullahoma, TN 37388 Full Service B&M $88,510
    First Vision Bank of Tennessee 372 West Northfield Blvd Murfreesboro, TN 37130 Full Service B&M $67,342

    For 2021, First Vision Bank Of Tennessee had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,922
    Net interest income $11,606
    Total noninterest income $7,222
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $353
    Trading account gains and fees $0
    Additional Noninterest Income $6,869
    Pre-tax net operating income $6,489
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,807
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,807
    Minority interest net income $0
    Net income $4,807
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,807

    First Vision Bank Of Tennessee's gross interest income from loans was $12,922,000.
    First Vision Bank Of Tennessee's net interest income from loans was $11,606,000.
    First Vision Bank Of Tennessee's fee based income from loans was $353,000.
    First Vision Bank Of Tennessee's net income from loans was $4,807,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,316
    Provision for credit losses $481
    Total noninterest expense $11,858
    Salaries and employee benefits $7,601
    Premises and equipment expense $806
    Additional noninterest expense $3,451
    Applicable income taxes $1,682
    Net charge-offs $132
    Cash dividends $1,069

    First Vision Bank Of Tennessee's interest expense for loans was $1,316,000.
    First Vision Bank Of Tennessee's payroll and benefits expense were $7,601,000.
    First Vision Bank Of Tennessee's property, plant and equipment expenses $806,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $325,215
    Deposits held in domestic offices $325,215
    Deposits by Individuals, partnerships, and corporations $302,624
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $22,094
    Deposits by Commercial banks and other depository institutions in U.S. $497
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $129,764
    Demand deposits $129,764
    Nontransaction accounts $195,451
    Money market deposit accounts (MMDAs) $107,132
    Other savings deposits (excluding MMDAs) $24,775
    Total time deposits $63,544
    Total time and savings deposits $195,451
    Noninterest-bearing deposits $74,064
    Interest-bearing deposits $251,151
    Retail deposits $304,694
    IRAs and Keogh plan accounts $10,471
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $371,122
    Cash & Balances due from depository institutions $19,080
    Interest-bearing balances $9,573
    Total securities $29,847
    Federal funds sold & reverse repurchase $70,415
    Net loans and leases $235,397
    Loan and leases loss allowance $3,411
    Trading account assets $0
    Bank premises and fixed assets $7,563
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $8,820

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $371,122
    Total Liabilities $336,068
    Total deposits $325,215
    Interest-bearing deposits $251,151
    Deposits held in domestic offices $325,215
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $7,000
    Subordinated debt $0
    All other liabilities $3,853

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $235,397
    Loan and leases loss allowance $3,411
    Total loans and leases (domestic) $238,808
    All real estate loans $210,389
    Real estate loans in domestic offices $210,389
    Construction and development loans $52,146
    Residential 1-4 family construction $27,102
    Other construction, all land development and other land $25,044
    Loans secured by nonfarm nonresidential properties $70,745
    Nonfarm nonresidential secured by owner-occupied properties $18,965
    Commercial real estate & other non-farm, non-residential $51,780
    Multifamily residential real estate $8,070
    1-4 family residential loans $71,983
    Farmland loans $7,445
    Loans held in foreign offices $0
    Farm loans $2,343
    Commercial and industrial loans $16,861
    To non-U.S. addressees $0
    Loans to individuals $7,481
    Credit card loans $0
    Related Plans $36
    Consumer Auto Loans $4,048
    Other loans to individuals $3,397
    All other loans & leases $1,733
    Loans to foreign governments and official institutions $0
    Other loans $1,733
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,023
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $266
    Non 1-4 family restructured loans & leases $8
    Total loans and leases (foreign) $0

    First Vision Bank of Tennessee had $235,397,000 of loans outstanding in 2021. $210,389,000 of loans were in real estate loans. $52,146,000 of loans were in development loans. $8,070,000 of loans were in multifamily mortgage loans. $71,983,000 of loans were in 1-4 family mortgage loans. $2,343,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,048,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 193 $40,263 $208,617
    Nonfarm, nonresidential loans - <$100k 54 $2,456 $45,481
    Nonfarm, nonresidential loans - $100-250k 67 $9,347 $139,507
    Nonfarm, nonresidential loans - $250k-1MM 72 $28,460 $395,278
    Commercial & Industrial, US addressed loans - <$1MM 413 $13,479 $32,637
    Commercial & Industrial, US addressed loans - <$100k 366 $6,385 $17,445
    Commercial & Industrial, US addressed loans - $100-250k 25 $2,687 $107,480
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $4,407 $200,318
    Farmland loans - <$1MM 53 $5,093 $96,094
    Farmland loans - <$100k 31 $1,368 $44,129
    Farmland loans - $100-250k 19 $2,932 $154,316
    Farmland loans - $250k-1MM 3 $793 $264,333
    Agriculture operations loans - <$1MM 65 $2,342 $36,031
    Agriculture operations loans - <$100k 59 $1,236 $20,949
    Agriculture operations loans - $100-250k 5 $833 $166,600
    Agriculture operations loans - $250k-1MM 1 $273 $273,000