First Westroads Bank Mortgage Rates, Fees & Info

OMAHA, NE

LEI: 549300ZTZPT51D3DK456

Tax ID: 47-0497986

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Mortgage Data

Review & Overview

First Westroads Bank is a smaller bank specializing in Home Purchase loans. First Westroads Bank has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Norfolk, Sioux City, and Fremont among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Westroads Bank has an above 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

24

Origination Dollar Volume (All Markets)

$35,860,000

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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 21 $25,115,000 $1,195,952 $0 0.00%
Norfolk, NE (FHA|USDA|VA) 1 $5,635,000 $5,635,000 $0 0.00%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $5,005,000 $5,005,000 $0 0.00%
Fremont, NE (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
First Westroads Bank's top markets include Omaha, Norfolk, Sioux City, and Fremont among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 24 $35,860,000 $1,494,167 $0 0.00%

    For 2023, First Westroads Bank's most frequently originated type of loan was Conventional, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 15 $30,545,000 $2,036,333 $0 0.00%
    Refi 8 $5,110,000 $638,750 $0 0.00%
    Home Improvement 1 $205,000 $205,000 $0 0.00%

    For 2023, First Westroads Bank's most frequently cited loan purpose was Home Purchase, with 15 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 24 $35,860,000 $1,494,167 $0 0.00%

    For 2023, First Westroads Bank's most frequently cited loan duration was Other, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 10 $3,110,000 $311,000 $0 0.00%
    $1MM+ 6 $30,850,000 $5,141,667 $0 0.00%
    $100k-200k 5 $645,000 $129,000 $0 0.00%
    $100,000 or less 1 $75,000 $75,000 $0 0.00%
    $400k-600k 1 $445,000 $445,000 $0 0.00%
    $600k-1MM 1 $735,000 $735,000 $0 0.00%

    2023 saw First Westroads Bank place emphasis on $200k-400k loans with 10 originations, totaling $3,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 4 $1,500,000 $375,000 $0 0.00%
    $100k-150k 3 $1,065,000 $355,000 $0 0.00%
    $50k-75k 2 $610,000 $305,000 $0 0.00%

    First Westroads Bank lent most frequently to those with incomes in the $250k+ range, with 4 originations. The second most popular income band? $100k-150k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 24 $35,860,000 $1,494,167 $0 0.00%

    First Westroads Bank lent most frequently to those with DTI ratios of Exempt%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 15 $32,685,000 $2,179,000 $0 0.00%
    White 9 $3,175,000 $352,778 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.97%

    First Westroads 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
    66.67%

    First Westroads Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 24 $35,860,000 $1,494,167

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    24 $35,860,000 $1,494,167