First Bank Mortgage Rates, Fees & Info

Hamilton, NJ

LEI: 549300YS4CB1171BRJ08

Tax ID: 20-8164471

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

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Mortgage Data

Review & Overview

First Bank is a smaller bank specializing in Refi and Home Purchase loans. First Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, New York, Allentown, Trenton, and Key West among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

First 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

93

Origination Dollar Volume (All Markets)

$67,325,000

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 40 $27,850,000 $696,250 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 26 $20,820,000 $800,769 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $12,210,000 $6,105,000 $0 0.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 14 $1,700,000 $121,429 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 4 $1,170,000 $292,500 $0 0.00%
Torrington, CT (FHA|USDA|VA) 1 $675,000 $675,000 $0 0.00%
READING, PA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
Outside of Metro Areas 3 $385,000 $128,333 $0 0.00%
First Bank's top markets include Philadelphia, New York, Allentown, Trenton, and Key West among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 93 $67,325,000 $723,925 $0 0.00%

    For 2022, First Bank's most frequently originated type of loan was Conventional, with 93 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 38 $35,390,000 $931,316 $0 0.00%
    Home Purchase 28 $22,400,000 $800,000 $0 0.00%
    Home Improvement 11 $2,445,000 $222,273 $0 0.00%
    Other 10 $2,600,000 $260,000 $0 0.00%
    Cash Out Refi 6 $4,490,000 $748,333 $0 0.00%

    For 2022, First Bank's most frequently cited loan purpose was Refi, with 38 originations. The 2nd most popular reason was Home Purchase, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 93 $67,325,000 $723,925 $0 0.00%

    For 2022, First Bank's most frequently cited loan duration was Other, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 31 $1,655,000 $53,387 $0 0.00%
    $200k-400k 19 $5,275,000 $277,632 $0 0.00%
    $1MM+ 15 $48,735,000 $3,249,000 $0 0.00%
    $100k-200k 12 $1,670,000 $139,167 $0 0.00%
    $600k-1MM 9 $6,635,000 $737,222 $0 0.00%
    $400k-600k 7 $3,355,000 $479,286 $0 0.00%

    2022 saw First Bank place emphasis on $100,000 or less loans with 31 originations, totaling $1,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 18 $2,130,000 $118,333 $0 0.00%
    $150k-250k 11 $2,425,000 $220,455 $0 0.00%
    $250k+ 7 $5,695,000 $813,571 $0 0.00%
    $50k-75k 5 $645,000 $129,000 $0 0.00%
    $50k or less 5 $345,000 $69,000 $0 0.00%
    $75k-100k 4 $270,000 $67,500 $0 0.00%

    First Bank lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $150k-250k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 93 $67,325,000 $723,925 $0 0.00%

    First Bank lent most frequently to those with DTI ratios of Exempt%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 36 $55,150,000 $1,531,944 $0 0.00%
    White 54 $10,120,000 $187,407 $0 0.00%
    Asian 2 $1,800,000 $900,000 $0 0.00%
    Black 1 $255,000 $255,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.96%

    First Bank 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
    97.85%

    First Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 93 $67,325,000 $723,925

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    93 $67,325,000 $723,925

    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%