First State Bank TX Mortgage Interest Rate and Cost Review

Is First State Bank TX a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by First State Bank TX to those of other lenders for a comparable set of borrowers. Here is our review of First State Bank TX nationally:

Review ItemFirst State Bank TX
Interest Ratesimilar to other lenders (-0.04%)
Loan Related Closing Costssimilar to other lenders (-$237)
National Rate and Closing Cost Star Rating(4)

On average, First State Bank TX’s interest rates were similar to those of other lenders (-0.04%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$237. Overall, combining interest rates and closing costs we estimate that First State Bank TX tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit First State Bank TX, its website is located at: https://www.firststate.bank.

First State Bank TX’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track First State Bank TX was most active in:

  1. Frisco, TX
  2. Fort Worth, TX
  3. Dallas, TX
  4. Sherman, TX
  5. Ardmore, OK

First State Bank TX’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, First State Bank TX originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.04%-0.04%+0.00%-0.00%-0.01%
Loan Related Closing Cost Difference-$258-$227-$25-$79-$11
Cost Adjusted Rate Difference-0.05%-0.05%+0.00%-0.01%-0.01%
National Star Rating(4)(4)(3.5)(3.5)(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference-0.04%+0.01%
Loan Related Closing Cost Difference-$238+$16
Cost Adjusted Rate Difference-0.06%+0.01%
Average Star Rating(4)(3.5)

As a summary, First State Bank TX is cheap for Conforming and FHA purchase mortgages. It is similar to other lenders for Jumbo, USDA and VA purchase mortgages. For refinancing mortgages, First State Bank TX is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about First State Bank TX:

Registered name: First State Bank
Registered city and state: GAINESVILLE, TX, 76240
Regulator: Federal Reserve System (FRS)
Top holder: RED RIVER BANCORP, INC.

* 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 First State Bank TX’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.