First Westroads Bank Mortgage Rates, Fees & Info

OMAHA, NE

LEI: 549300ZTZPT51D3DK456

Tax ID: 47-0497986

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Westroads Bank is a smaller bank specializing in Home Purchase and Refi loans. First Westroads Bank has a high proportion of conventional loans. Their top two markets are Omaha and Lincoln .

    First Westroads 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

    49

    Origination Dollar Volume (All Markets)

    $17,445,000

    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) 47 $16,415,000 $349,255 $747 5.36%
    LINCOLN, NE (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $750 4.75%
    Outside of Metro Areas 1 $25,000 $25,000 $290 6.25%
    First Westroads Bank's top markets include Omaha and Lincoln 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 49 $17,445,000 $356,020 $727 5.37%

    For 2018, First Westroads Bank's most frequently originated type of loan was Conventional, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 34 $7,200,000 $211,765 $877 5.42%
    Refi 13 $10,015,000 $770,385 $225 5.31%
    Home Improvement 2 $230,000 $115,000 $188 4.88%

    For 2018, First Westroads Bank's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 18 $11,080,000 $615,556 $549 5.39%
    1 Year 17 $3,735,000 $219,706 $940 5.31%
    5 Year 14 $2,630,000 $187,857 $0 5.41%

    For 2018, First Westroads Bank's most frequently cited loan duration was Other, with 18 originations. The 2nd most popular length was 1 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 20 $3,890,000 $194,500
    $1k-2k 2 $620,000 $310,000

    First Westroads Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 20 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 31 $4,915,000 $158,548
    4-5% 15 $11,905,000 $793,667
    6-7% 3 $625,000 $208,333

    During 2018, First Westroads Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $1,255,000 $66,053 $455 5.51%
    $100k-200k 11 $1,545,000 $140,455 $551 5.45%
    $200k-400k 10 $2,760,000 $276,000 $1,011 5.17%
    $400k-600k 4 $1,850,000 $462,500 $1,531 5.50%
    $600k-1MM 3 $2,115,000 $705,000 $0 5.08%
    $1MM+ 2 $7,920,000 $3,960,000 $750 4.63%

    2018 saw First Westroads Bank place emphasis on $100,000 or less loans with 19 originations, totaling $1,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 13 $1,905,000 $146,538 $650 5.46%
    $100k-150k 9 $1,055,000 $117,222 $891 5.44%
    $250k+ 6 $1,770,000 $295,000 $815 5.29%
    $75k-100k 3 $335,000 $111,667 $290 6.00%
    $50k-75k 1 $335,000 $335,000 $938 5.00%
    $50k or less 1 $205,000 $205,000 $388 5.50%

    First Westroads Bank lent most frequently to those with incomes in the $150k-250k range, with 13 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 12 $2,040,000 $170,000 $972 5.48%
    20-30% 7 $1,385,000 $197,857 $407 5.25%
    30-36% 5 $885,000 $177,000 $922 5.39%
    50-60% 2 $170,000 $85,000 $211 5.38%
    46% 2 $140,000 $70,000 $0 5.75%
    40% 1 $65,000 $65,000 $193 6.00%
    42% 1 $65,000 $65,000 $798 5.50%
    43% 1 $135,000 $135,000 $0 5.75%
    38% 1 $575,000 $575,000 $881 5.00%
    39% 1 $145,000 $145,000 $0 6.25%

    First Westroads Bank lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 20-30%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 16 $11,840,000 $740,000 $0 5.17%
    White 30 $5,090,000 $169,667 $721 5.42%
    Not provided 2 $370,000 $185,000 $785 5.63%
    Black 1 $145,000 $145,000 $0 6.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    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
    91.84%

    First Westroads Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 49 $17,445,000 $356,020

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $8,100,000 $2,025,000
    Single Family (1-4 Units):Site-Built 45 $9,345,000 $207,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,485,000 $212,143 $576 5.36%
    40-60% 6 $1,600,000 $266,667 $965 5.25%
    60-80% 21 $11,705,000 $557,381 $1,525 5.27%
    80-100% 5 $1,495,000 $299,000 $1,011 5.35%
    Under 20% 10 $1,160,000 $116,000 $283 5.65%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 3 21.4%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 5 35.7%