Is First Financial 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 Financial Bank TX to those of other lenders for a comparable set of borrowers. Here is our review of First Financial Bank TX nationally:
|Review Item||First Financial Bank TX|
|Interest Rate||similar to other lenders (-0.01%)|
|Loan Related Closing Costs||lower than other lenders (-$396)|
|National Rate and Closing Cost Star Rating||(3.5)|
On average, First Financial Bank TX’s interest rates were similar to those of other lenders (-0.01%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$396. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit First Financial Bank TX, check out its website at: https://ffin.com.
First Financial 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 by city, click here. In particular, among the cities we track First Financial Bank TX was most active in:
In addition, First Financial Bank TX is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
First Financial 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 Financial Bank TX originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA 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.
|New Purchase Mortgages||Conforming||FHA||Jumbo||USDA||VA|
|Interest Rate Difference||-0.02%||-0.11%||+0.02%||-0.00%||-0.13%|
|Loan Related Closing Cost Difference||-$472||-$234||+$16||-$11||-$89|
|Cost Adjusted Rate Difference||-0.05%||-0.13%||+0.03%||-0.01%||-0.13%|
|National Star Rating|
|Interest Rate Difference||+0.04%||+0.00%||+0.01%||-0.02%|
|Loan Related Closing Cost Difference||-$433||-$12||-$29||-$80|
|Cost Adjusted Rate Difference||+0.01%||+0.00%||+0.01%||-0.03%|
|Average Star Rating|
As a summary, First Financial Bank TX is cheap for FHA and VA purchase mortgages. It is similar to other lenders for Conforming, Jumbo and USDA purchase mortgages. For refinancing mortgages, First Financial Bank TX is similar to other lenders for Conforming, FHA, Jumbo and VA 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 Financial Bank TX:
Registered city and state: Abilene, TX, 79601
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: FIRST FINANCIAL BANKSHARES, 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 Financial 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.