First Westroads Bank Mortgage Rates, Fees & Info
OMAHA, NELEI: 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
36Origination Dollar Volume (All Markets)
$24,410,000Top Markets
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| 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% |
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
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
2019 saw First Westroads Bank place emphasis on $100,000 or less loans with 15 originations, totaling $835,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications86.96%
First Westroads Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.89%
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% |