First Vision Bank Of Tennessee Mortgage Rates, Fees & Info

Tullahoma, TN

LEI: 549300W40F67Y6WWQX34

Tax ID: 20-3376201

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First Vision Bank Of Tennessee is a smaller bank specializing in Home Purchase loans. First Vision Bank Of 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: Tullahoma, Nashville, Mcminnville, Shelbyville, and Crestview 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 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.

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    Originations

    374

    Origination Dollar Volume (All Markets)

    $102,570,000
    Show all (5) 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
    Tullahoma-Manchester, TN (FHA|USDA|VA) 191 $41,005,000 $214,686 $5,066 4.92%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 112 $37,410,000 $334,018 $6,873 4.63%
    Outside of Metro Areas 27 $6,745,000 $249,815 $4,021 4.76%
    McMinnville, TN (FHA|USDA|VA) 9 $4,325,000 $480,556 $6,245 4.49%
    Shelbyville, TN (FHA|USDA|VA) 11 $3,455,000 $314,091 $5,768 5.09%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $3,000,000 $1,500,000 $0 3.15%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 9 $2,385,000 $265,000 $5,756 5.32%
    KNOXVILLE, TN (FHA|USDA|VA) 2 $800,000 $400,000 $9,407 5.51%
    HUNTSVILLE, AL (FHA|USDA|VA) 2 $720,000 $360,000 $4,556 5.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $525,000 $525,000 $3,843 3.75%
    Sevierville, TN (FHA|USDA|VA) 1 $495,000 $495,000 $9,558 4.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $335,000 $335,000 $11,871 4.13%
    HINESVILLE, GA (FHA|USDA|VA) 1 $305,000 $305,000 $11,333 6.13%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $295,000 $295,000 $15,084 4.50%
    Cookeville, TN (FHA|USDA|VA) 1 $275,000 $275,000 $3,696 4.63%
    Tupelo, MS (FHA|USDA|VA) 1 $215,000 $215,000 $8,077 4.88%
    Lawrenceburg, TN (FHA|USDA|VA) 1 $155,000 $155,000 $4,129 5.13%
    Calhoun, GA (FHA|USDA|VA) 1 $125,000 $125,000 $4,365 5.63%
    First Vision Bank Of Tennessee's top markets include Tullahoma, Nashville, Mcminnville, Shelbyville, and Crestview among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Texas (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.

    US COMMUNITY
    Similarity Rank: 295
    First Farmers and Merchants Bank
    Similarity Rank: 456
    Citizens Tri-County Bank
    Similarity Rank: 693
    Listerhill Credit Union
    Similarity Rank: 858
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 868
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1404
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 1512
    The Farmers Bank
    Similarity Rank: 1545
    First Federal Bank
    Similarity Rank: 2260
    ASCEND FEDERAL CREDIT UNION
    Similarity Rank: 2310

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 288 $78,440,000 $272,361 $4,515 4.86%
    FHA 54 $14,680,000 $271,852 $9,940 4.65%
    USDA 16 $3,660,000 $228,750 $6,948 4.71%
    VA 13 $3,875,000 $298,077 $6,619 4.63%
    HELOC 3 $1,915,000 $638,333 n/a 5.13%

    For 2022, First Vision Bank Of Tennessee's most frequently originated type of loan was Conventional, with 288 originations. Their 2nd most popular type was FHA, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 234 $73,950,000 $316,026 $6,388 4.84%
    Refi 68 $13,980,000 $205,588 $3,625 5.00%
    Cash Out Refi 56 $12,870,000 $229,821 $5,422 4.23%
    Home Improvement 10 $1,160,000 $116,000 $2,935 5.94%
    Other 5 $515,000 $103,000 $2,029 5.75%
    NA 1 $95,000 $95,000 $1,112 5.25%

    For 2022, First Vision Bank Of Tennessee's most frequently cited loan purpose was Home Purchase, with 234 originations. The 2nd most popular reason was Refi, with 68 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 236 $66,640,000 $282,373 $6,634 4.63%
    Other 37 $9,245,000 $249,865 $2,156 5.42%
    15 Year 25 $3,845,000 $153,800 $2,672 4.27%
    20 Year 22 $5,530,000 $251,364 $2,735 4.93%
    1 Year 21 $8,245,000 $392,619 $2,041 5.37%
    5 Year 20 $7,530,000 $376,500 $1,292 5.23%
    10 Year 8 $600,000 $75,000 $1,283 5.62%
    3 Year 5 $935,000 $187,000 $0 6.40%

    For 2022, First Vision Bank Of Tennessee's most frequently cited loan duration was 30 Year, with 236 originations. The 2nd most popular length was Other, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 120 $30,680,000 $255,667
    $2k-3k 55 $13,255,000 $241,000
    $<1k 35 $3,555,000 $101,571
    $5k+ 33 $13,215,000 $400,455
    $3k-4k 31 $7,835,000 $252,742
    $4k-5k 28 $8,860,000 $316,429

    First Vision Bank Of Tennessee's average total fees were $6,634, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 120 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 119 $29,095,000 $244,496
    4-5% 118 $36,670,000 $310,763
    3-4% 82 $25,090,000 $305,976
    6-7% 28 $5,800,000 $207,143
    2.5-3% 17 $4,505,000 $265,000
    7-8% 5 $625,000 $125,000
    Over 8% 2 $290,000 $145,000
    <2.5% 1 $5,000 $5,000

    During 2022, First Vision Bank Of Tennessee's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 5-6%, with 119 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 168 $48,120,000 $286,429 $6,683 4.74%
    $100k-200k 103 $15,625,000 $151,699 $4,317 4.89%
    $100,000 or less 50 $2,680,000 $53,600 $1,659 5.26%
    $400k-600k 38 $18,810,000 $495,000 $8,138 4.55%
    $600k-1MM 9 $5,905,000 $656,111 $9,470 4.61%
    $1MM+ 6 $11,430,000 $1,905,000 $0 4.43%

    2022 saw First Vision Bank Of Tennessee place emphasis on $200k-400k loans with 168 originations, totaling $48,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 83 $17,215,000 $207,410 $5,461 4.73%
    $75k-100k 70 $17,010,000 $243,000 $6,320 4.71%
    $100k-150k 65 $24,245,000 $373,000 $6,608 4.96%
    $50k or less 60 $7,880,000 $131,333 $4,086 4.63%
    $150k-250k 49 $17,255,000 $352,143 $6,507 4.90%
    $250k+ 18 $9,240,000 $513,333 $5,272 4.38%

    First Vision Bank Of Tennessee lent most frequently to those with incomes in the $50k-75k range, with 83 originations. The second most popular income band? $75k-100k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 60 $15,420,000 $257,000 $5,188 4.77%
    20-30% 54 $12,570,000 $232,778 $5,006 4.75%
    <20% 21 $3,475,000 $165,476 $3,689 4.92%
    44% 18 $4,270,000 $237,222 $6,469 4.30%
    43% 16 $3,840,000 $240,000 $7,125 4.75%
    50-60% 16 $4,670,000 $291,875 $7,238 4.84%
    41% 16 $2,990,000 $186,875 $4,936 4.71%
    36% 15 $3,375,000 $225,000 $4,718 5.03%
    49% 15 $5,115,000 $341,000 $8,741 5.30%
    38% 14 $4,010,000 $286,429 $6,385 4.83%
    42% 13 $2,785,000 $214,231 $5,257 3.68%
    47% 10 $2,950,000 $295,000 $8,082 4.71%
    45% 9 $3,235,000 $359,444 $5,046 5.19%
    40% 9 $2,035,000 $226,111 $5,745 4.60%
    48% 9 $2,815,000 $312,778 $7,889 4.49%
    37% 9 $1,975,000 $219,444 $3,620 4.72%
    39% 7 $1,465,000 $209,286 $3,779 5.32%
    46% 6 $2,060,000 $343,333 $9,259 4.44%
    >60% 2 $760,000 $380,000 $6,551 5.00%

    First Vision Bank Of Tennessee lent most frequently to those with DTI ratios of 30-36%, with 60 originations. The next most common DTI ratio? 20-30%, with 54 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 329 $87,495,000 $265,942 $5,673 4.81%
    Not applicable 21 $8,855,000 $421,667 $0 5.41%
    Black 14 $3,100,000 $221,429 $6,822 4.40%
    Not provided 7 $2,315,000 $330,714 $5,479 4.12%
    Asian 2 $560,000 $280,000 $3,904 5.87%
    American Indian 1 $245,000 $245,000 $4,091 5.38%

    Approval Rates

    Total approvals of all applications
    93.10%

    First Vision Bank Of Tennessee has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.33%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 374 $102,570,000 $274,251

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    374 $102,570,000 $274,251

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $5,900,000 $155,263 $3,164 4.85%
    40-60% 51 $14,025,000 $275,000 $5,034 4.93%
    60-80% 119 $38,385,000 $322,563 $5,378 4.81%
    80-100% 138 $41,690,000 $302,101 $7,410 4.75%
    Over 100% 7 $1,655,000 $236,429 $5,057 4.93%
    Under 20% 21 $915,000 $43,571 $739 4.98%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%