First American Bank And Trust Mortgage Rates, Fees & Info

Vacherie, LA

LEI: 549300Z78KW88BIQNR50

Tax ID: 72-0125095

5 stars - Updated: 4/25/24 - out of 5 stars, based on 20 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 American Bank And Trust is a smaller bank specializing in Home Purchase loans. First American Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Houma, Baton Rouge, Hammond, and Lafayette among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First American Bank And Trust has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First American Bank And Trust is typically an average 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 relatively high 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

    399

    Origination Dollar Volume (All Markets)

    $114,555,000

    Relative Rate

    First American Bank And Trust's average 30 year fixed mortgage rate was 6.93%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.45%.

    Relative Fees (Closing Costs)

    First American Bank And Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $5,732.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 230 $64,240,000 $279,304 $1,692 6.82%
    HOUMA-THIBODAUX, LA (FHA|USDA|VA) 75 $22,315,000 $297,533 $1,020 6.09%
    BATON ROUGE, LA (FHA|USDA|VA) 65 $20,385,000 $313,615 $1,103 6.53%
    HAMMOND, LA (FHA|USDA|VA) 21 $6,325,000 $301,190 $1,030 6.10%
    LAFAYETTE, LA (FHA|USDA|VA) 2 $600,000 $300,000 $100 5.90%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 2 $240,000 $120,000 $4,770 7.46%
    Ruston, LA (FHA|USDA|VA) 1 $175,000 $175,000 $3,980 6.95%
    Morgan City, LA (FHA|USDA|VA) 2 $140,000 $70,000 $0 8.55%
    Outside of Metro Areas 1 $135,000 $135,000 $3,391 6.50%
    First American Bank And Trust's top markets include New Orleans, Houma, Baton Rouge, Hammond, and Lafayette among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 399 $114,555,000 $287,105 $1,438 6.60%

    For 2023, First American Bank And Trust's most frequently originated type of loan was Conventional, with 399 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 253 $90,995,000 $359,664 $1,456 6.00%
    Refi 115 $21,345,000 $185,609 $1,505 7.73%
    Other 16 $1,150,000 $71,875 $1,554 7.42%
    Home Improvement 15 $1,065,000 $71,000 $701 7.25%

    For 2023, First American Bank And Trust's most frequently cited loan purpose was Home Purchase, with 253 originations. The 2nd most popular reason was Refi, with 115 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 146 $57,500,000 $393,836 $1,126 5.21%
    Other 140 $34,060,000 $243,286 $1,409 6.61%
    3 Year 45 $6,985,000 $155,222 $0 8.57%
    5 Year 43 $7,245,000 $168,488 $0 8.32%
    1 Year 11 $5,555,000 $505,000 $3,691 9.17%
    30 Year 7 $1,865,000 $266,429 $5,732 6.93%
    10 Year 7 $1,345,000 $192,143 $5,431 8.06%

    For 2023, First American Bank And Trust's most frequently cited loan duration was 15 Year, with 146 originations. The 2nd most popular length was Other, with 140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 202 $68,900,000 $341,089
    $1k-2k 37 $5,775,000 $156,081
    $2k-3k 16 $3,750,000 $234,375
    $5k+ 8 $4,930,000 $616,250
    $3k-4k 6 $1,970,000 $328,333
    $4k-5k 4 $1,710,000 $427,500

    First American Bank And Trust's average total fees were $5,732, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 202 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 93 $17,015,000 $182,957
    7-8% 93 $17,105,000 $183,925
    6-7% 85 $18,565,000 $218,412
    3-4% 50 $25,270,000 $505,400
    5-6% 41 $20,385,000 $497,195
    4-5% 23 $9,375,000 $407,609
    2.5-3% 14 $6,840,000 $488,571

    During 2023, First American Bank And Trust's average interest rate for loans was 6.93%, while their most frequently originated rate bucket for loans was Over 8%, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 108 $5,550,000 $51,389 $833 7.78%
    $200k-400k 104 $29,890,000 $287,404 $1,488 6.19%
    $100k-200k 79 $11,995,000 $151,835 $2,821 7.57%
    $400k-600k 77 $37,805,000 $490,974 $1,063 5.14%
    $600k-1MM 23 $16,755,000 $728,478 $1,827 5.11%
    $1MM+ 8 $12,560,000 $1,570,000 $100 4.88%

    2023 saw First American Bank And Trust place emphasis on $100,000 or less loans with 108 originations, totaling $5,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 85 $36,725,000 $432,059 $1,017 5.11%
    $100k-150k 77 $20,625,000 $267,857 $1,361 6.15%
    $50k-75k 39 $5,215,000 $133,718 $1,660 6.68%
    $75k-100k 37 $6,945,000 $187,703 $1,145 6.43%
    $250k+ 31 $17,745,000 $572,419 $2,933 5.98%
    $50k or less 31 $2,625,000 $84,677 $1,142 7.82%

    First American Bank And Trust lent most frequently to those with incomes in the $150k-250k range, with 85 originations. The second most popular income band? $100k-150k, with 77 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 81 $24,505,000 $302,531 $1,257 5.71%
    30-36% 47 $12,925,000 $275,000 $1,607 5.92%
    <20% 33 $9,285,000 $281,364 $1,487 5.66%
    50-60% 13 $2,435,000 $187,308 $1,256 7.15%
    40% 12 $4,730,000 $394,167 $1,511 5.49%
    42% 11 $2,565,000 $233,182 $2,308 6.65%
    36% 11 $4,775,000 $434,091 $1,915 5.62%
    38% 10 $6,030,000 $603,000 $1,094 5.19%
    39% 10 $4,430,000 $443,000 $629 4.77%
    >60% 8 $1,680,000 $210,000 $1,235 6.18%
    41% 8 $2,630,000 $328,750 $2,540 6.39%
    45% 7 $2,995,000 $427,857 $1,207 5.63%
    37% 6 $1,490,000 $248,333 $1,411 5.68%
    46% 5 $1,755,000 $351,000 $1,271 5.13%
    44% 3 $2,735,000 $911,667 $100 4.80%
    47% 1 $115,000 $115,000 $3,189 8.95%
    49% 1 $765,000 $765,000 $150 7.55%
    43% 1 $585,000 $585,000 $100 3.00%

    First American Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 81 originations. The next most common DTI ratio? 30-36%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 243 $72,935,000 $300,144 $1,390 6.01%
    Not applicable 94 $23,990,000 $255,213 $0 8.10%
    Black 49 $12,525,000 $255,612 $1,464 6.82%
    Not provided 10 $4,140,000 $414,000 $1,745 5.88%
    Asian 3 $965,000 $321,667 $3,810 6.97%

    Approval Rates

    Total approvals of all applications
    81.02%

    First American Bank And Trust has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.21%

    First American Bank And Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 399 $114,555,000 $287,105

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    399 $114,555,000 $287,105

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $7,210,000 $200,278 $1,285 7.53%
    40-60% 55 $8,665,000 $157,545 $1,142 7.48%
    60-80% 104 $27,750,000 $266,827 $1,596 6.90%
    80-100% 168 $69,420,000 $413,214 $1,700 5.77%
    Under 20% 36 $1,510,000 $41,944 $380 7.36%