First Vision Bank Of Tennessee Mortgage Rates, Fees & Info

Tullahoma, TN

LEI: 549300W40F67Y6WWQX34

Tax ID: 20-3376201

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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%	12/16/24
30 Year Conventional Purchase	6.52%	12/16/24
30 Year Conventional Refi	6.51%	12/16/24
30 Year Cash-out Refi	6.63%	12/16/24
30 Year FHA Purchase	7.21%	12/16/24
30 Year FHA Refi	7.20%	12/16/24
30 Year VA Purchase	6.60%	12/16/24
30 Year USDA Purchase	6.73%	12/16/24
15 Year Conventional Purchase	6.00%	12/16/24
15 Year Conventional Refi	6.21%	12/16/24
15 Year Cash-out Refi	6.21%	12/16/24
15 Year VA Refi	5.68%	12/16/24
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

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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

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.

Citizens Tri-County Bank
Similarity Rank: 270

KELLEY MORTGAGE, LLC
Similarity Rank: 336

SmartBank
Similarity Rank: 481

First Vision Bank of Tennessee
Similarity Rank: 657

US COMMUNITY
Similarity Rank: 686

TENNESSEE TRUST MORTGAGE, INC
Similarity Rank: 952

Southeast Financial Credit Union
Similarity Rank: 990

U S WIDE FINANCIAL LLC
Similarity Rank: 1932

HERITAGE SOUTH COMMUNITY CU
Similarity Rank: 2010

The Farmers Bank
Similarity Rank: 2295

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