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 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 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

36

Origination Dollar Volume (All Markets)

$24,410,000

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) 35 $24,345,000 $695,571 $0 0.00%
LINCOLN, NE (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
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 36 $24,410,000 $678,056 $0 0.00%

    For 2019, First Westroads Bank's most frequently originated type of loan was Conventional, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 16 $2,830,000 $176,875 $0 0.00%
    Refi 14 $21,110,000 $1,507,857 $0 0.00%
    Home Improvement 4 $320,000 $80,000 $0 0.00%
    Other 2 $150,000 $75,000 $0 0.00%

    For 2019, First Westroads Bank's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 36 $24,410,000 $678,056 $0 0.00%

    For 2019, First Westroads Bank's most frequently cited loan duration was Other, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $835,000 $55,667 $0 0.00%
    $200k-400k 11 $2,795,000 $254,091 $0 0.00%
    $100k-200k 7 $995,000 $142,143 $0 0.00%
    $1MM+ 2 $19,210,000 $9,605,000 $0 0.00%
    $400k-600k 1 $575,000 $575,000 $0 0.00%

    2019 saw First Westroads Bank place emphasis on $100,000 or less loans with 15 originations, totaling $835,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $1,010,000 $126,250 $0 0.00%
    $150k-250k 5 $795,000 $159,000 $0 0.00%
    $250k+ 4 $1,080,000 $270,000 $0 0.00%
    $75k-100k 4 $530,000 $132,500 $0 0.00%
    $50k-75k 1 $55,000 $55,000 $0 0.00%

    First Westroads Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $150k-250k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 36 $24,410,000 $678,056 $0 0.00%

    First Westroads Bank lent most frequently to those with DTI ratios of Exempt%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 14 $20,940,000 $1,495,714 $0 0.00%
    White 18 $3,050,000 $169,444 $0 0.00%
    Not provided 4 $420,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.96%

    First Westroads Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.89%

    First Westroads Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 36 $24,410,000 $678,056

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $19,210,000 $9,605,000
    Single Family (1-4 Units):Site-Built 34 $5,200,000 $152,941

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK FHA mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 6.7%
    FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 3 20.0%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK VA mortgage Closing on a mortgage 1 6.7%