First Metro Bank Mortgage Rates, Fees & Info
Muscle Shoals, ALLEI: 549300W8Q4KZC8LMAV19
Tax ID: 63-0980487
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Metro Bank is a smaller bank specializing in Home Purchase loans. First Metro Bank has a high proportion of conventional loans. Their top markets by origination volume include: Florence, Huntsville, Daphne, Decatur, and Birmingham among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)First Metro Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
168Origination Dollar Volume (All Markets)
$31,010,000Top 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 |
|---|---|---|---|---|---|
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 106 | $16,400,000 | $154,717 | $0 | 0.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 15 | $7,185,000 | $479,000 | $0 | 0.00% |
| Outside of Metro Areas | 33 | $3,395,000 | $102,879 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $0 | 0.00% |
| DECATUR, AL (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Scottsboro, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 168 | $31,010,000 | $184,583 | $0 | 0.00% |
For 2023, First Metro Bank's most frequently originated type of loan was Conventional, with 168 originations.
Loan Reason
For 2023, First Metro Bank's most frequently cited loan purpose was Home Purchase, with 93 originations. The 2nd most popular reason was Refi, with 37 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 168 | $31,010,000 | $184,583 | $0 | 0.00% |
For 2023, First Metro Bank's most frequently cited loan duration was Other, with 168 originations.
Loan Sizing
2023 saw First Metro Bank place emphasis on $100,000 or less loans with 91 originations, totaling $4,885,000 in origination value.
Applicant Income
First Metro Bank lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $50k-75k, with 31 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 168 | $31,010,000 | $184,583 | $0 | 0.00% |
First Metro Bank lent most frequently to those with DTI ratios of Exempt%, with 168 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.50%
First Metro Bank has an average approval rate.
Pick Rate
Approvals leading to origination91.07%
First Metro Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 168 | $31,010,000 | $184,583 |