First Exchange Bank Mortgage Rates, Fees & Info
Fairmont, WVLEI: 549300ZOW5Z4AZ36M223
Tax ID: 55-0170680
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Exchange Bank is a smaller bank specializing in Home Purchase and Refi loans. First Exchange Bank has a high proportion of conventional loans. Their top markets by origination volume include: Morgantown, Fairmont, Clarksburg, Crestview, and Pittsburgh among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)First Exchange Bank 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.
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Originations
185Origination Dollar Volume (All Markets)
$41,535,000Top 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 |
|---|---|---|---|---|---|
| MORGANTOWN, WV (FHA|USDA|VA) | 57 | $18,275,000 | $320,614 | $0 | 0.00% |
| Fairmont, WV (FHA|USDA|VA) | 84 | $14,600,000 | $173,810 | $0 | 0.00% |
| Clarksburg, WV (FHA|USDA|VA) | 20 | $3,230,000 | $161,500 | $0 | 0.00% |
| Outside of Metro Areas | 15 | $2,775,000 | $185,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| Elkins, WV (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 185 | $41,535,000 | $224,514 | $0 | 0.00% |
For 2022, First Exchange Bank's most frequently originated type of loan was Conventional, with 185 originations.
Loan Reason
For 2022, First Exchange Bank's most frequently cited loan purpose was Home Purchase, with 101 originations. The 2nd most popular reason was Refi, with 81 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 185 | $41,535,000 | $224,514 | $0 | 0.00% |
For 2022, First Exchange Bank's most frequently cited loan duration was Other, with 185 originations.
Loan Sizing
2022 saw First Exchange Bank place emphasis on $100k-200k loans with 70 originations, totaling $10,040,000 in origination value.
Applicant Income
First Exchange Bank lent most frequently to those with incomes in the $100k-150k range, with 41 originations. The second most popular income band? $50k-75k, with 34 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 185 | $41,535,000 | $224,514 | $0 | 0.00% |
First Exchange Bank lent most frequently to those with DTI ratios of Exempt%, with 185 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.57%
First Exchange Bank has a below average approval rate.
Pick Rate
Approvals leading to origination81.08%
First Exchange Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 185 | $41,535,000 | $224,514 |
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% |