First State Community Bank Mortgage Interest Rate and Cost Review

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

Interest Ratelower than average (-0.11%)
Loan Related Closing Costssimilar to average (-$62)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.fscb.com

On average, First State Community Bank’s interest rates were lower than those of other lenders (-0.11%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$62. Overall, combining interest rates and closing costs we estimate that First State Community Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

First State Community Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track First State Community Bank was most active in:

  1. St. Louis, MO
  2. Cape Girardeau, MO
  3. Farmington, MO
  4. Springfield, MO
  5. Columbia, MO

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

First State Community 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, First State Community Bank originated Conforming and USDA mortgages for new home purchases. It also originated Conforming and Jumbo 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.

Purchase/Refinance:
New Purchase MortgagesConformingUSDA
Interest Rate Difference-0.06%-0.09%
Loan Related Closing Cost Difference-$1-$29
Cost Adjusted Rate Difference-0.06%-0.10%
Star Rating(4.0)(4.0)
Refinance MortgagesConformingJumbo
Interest Rate Difference-0.17%+0.01%
Loan Related Closing Cost Difference-$123+$10
Cost Adjusted Rate Difference-0.18%+0.01%
Star Rating(4.5)(3.5)

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

Other information about First State Community Bank:

Registered name: First State Community Bank
Registered city and state: FARMINGTON, MO, 63640
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: FIRST STATE BANCSHARES, 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 Community 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.