1st National Bank Mortgage Interest Rate and Cost Review

Is 1st National Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by 1st National Bank with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratelower than average (-0.14%)
Loan Related Closing Costslower than average (-$976)
National Rate and Closing Cost Rating(4.5)

On average, 1st National Bank’s interest rates were lower than those of other lenders (-0.14%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$976. Overall, combining interest rates and closing costs we estimate that 1st National Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5.0 stars.

1st National Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track 1st National Bank was most active in:

  1. Cincinnati, OH
  2. Washington Court House, OH
  3. Kettering, OH
  4. Columbus, OH
  5. Charlotte, NC

Furthermore, 1st National Bank is our top ranked mortgage lender in terms of interest rate and closing costs in Washington Court House, OH, overall.

You can click through to check out 1st National Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

1st National Bank’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, 1st National Bank originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference-0.06%-0.19%-0.00%-0.06%
Loan Related Closing Cost Difference-$822-$438-$26-$89
Cost Adjusted Rate Difference-0.12%-0.23%-0.01%-0.06%
Star Rating(4.0)(4.5)(3.5)(4.0)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.21%-0.01%-0.01%
Loan Related Closing Cost Difference-$1283-$35-$89
Cost Adjusted Rate Difference-0.30%-0.02%-0.01%
Star Rating(5.0)(3.5)(3.5)

As a summary, 1st National Bank is cheap for Conforming, FHA and VA purchase mortgages. It is similar to other lenders for USDA purchase mortgages. For refinancing mortgages, 1st National Bank is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about 1st National Bank:

Registered name: 1st National Bank
Registered city and state: Lebanon, OH, 45036
Regulator: Office of the Comptroller of the Currency (OCC)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for 1st National Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.