First Resource Bank Mortgage Rates, Fees & Info

Exton, PA

LEI: 549300YV3F7WA813QL95

Tax ID: 20-2139081

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Mortgage Data

Review & Overview

First Resource Bank is a smaller bank specializing in Home Purchase and Refi loans. First Resource Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Ocean City, Allentown, Harrisburg, and Lancaster among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Resource 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

130

Origination Dollar Volume (All Markets)

$63,950,000

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) 117 $52,405,000 $447,906 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 4 $6,380,000 $1,595,000 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $1,790,000 $895,000 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $1,565,000 $1,565,000 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 3 $825,000 $275,000 $0 0.00%
STATE COLLEGE, PA (FHA|USDA|VA) 2 $510,000 $255,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
First Resource Bank's top markets include Philadelphia, Ocean City, Allentown, Harrisburg, and Lancaster among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $63,950,000 $491,923 $0 0.00%

    For 2023, First Resource Bank's most frequently originated type of loan was Conventional, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 93 $41,875,000 $450,269 $0 0.00%
    Refi 30 $20,670,000 $689,000 $0 0.00%
    Home Improvement 7 $1,405,000 $200,714 $0 0.00%

    For 2023, First Resource Bank's most frequently cited loan purpose was Home Purchase, with 93 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 130 $63,950,000 $491,923 $0 0.00%

    For 2023, First Resource Bank's most frequently cited loan duration was Other, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 45 $12,525,000 $278,333 $0 0.00%
    $100k-200k 36 $5,520,000 $153,333 $0 0.00%
    $400k-600k 18 $8,660,000 $481,111 $0 0.00%
    $1MM+ 17 $32,225,000 $1,895,588 $0 0.00%
    $100,000 or less 8 $590,000 $73,750 $0 0.00%
    $600k-1MM 6 $4,430,000 $738,333 $0 0.00%

    2023 saw First Resource Bank place emphasis on $200k-400k loans with 45 originations, totaling $12,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $3,505,000 $184,474 $0 0.00%
    $250k+ 10 $13,160,000 $1,316,000 $0 0.00%
    $100k-150k 3 $365,000 $121,667 $0 0.00%
    $150k-250k 3 $1,355,000 $451,667 $0 0.00%
    $75k-100k 3 $1,555,000 $518,333 $0 0.00%

    First Resource Bank lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $250k+, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 130 $63,950,000 $491,923 $0 0.00%

    First Resource Bank lent most frequently to those with DTI ratios of Exempt%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 92 $44,010,000 $478,370 $0 0.00%
    White 37 $19,745,000 $533,649 $0 0.00%
    Not provided 1 $195,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    First Resource 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
    96.92%

    First Resource 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 130 $63,950,000 $491,923

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    130 $63,950,000 $491,923