First Citizens National Bank Mortgage Interest Rate and Cost Review

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

Interest Ratesimilar to average (-0.04%)
Loan Related Closing Costssimilar to average (-$143)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.firstcnb.com

On average, First Citizens National Bank’s interest rates were similar to those of other lenders (-0.04%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$143. Overall, combining interest rates and closing costs we estimate that First Citizens National Bank tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

First Citizens National Bank’s Rates by Area

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

  1. Cleveland, TN
  2. Dyersburg, TN
  3. Chattanooga, TN
  4. Memphis, TN
  5. Nashville, TN

Furthermore, First Citizens National Bank is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Cleveland, TN, overall
  2. Dyersburg, TN, for Jumbo, and VA mortgages

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

First Citizens 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, First Citizens National Bank originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo 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.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.02%-0.17%+0.00%-0.01%-0.02%
Loan Related Closing Cost Difference-$37-$123-$21+$18+$1
Cost Adjusted Rate Difference-0.03%-0.19%+0.00%-0.01%-0.02%
Star Rating(3.5)(4.5)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.00%-0.02%+0.02%-0.01%
Loan Related Closing Cost Difference-$400-$51-$18-$26
Cost Adjusted Rate Difference-0.04%-0.03%+0.02%-0.01%
Star Rating(3.5)(3.5)(3.5)(3.5)

As a summary, First Citizens National Bank is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming, Jumbo, USDA and VA purchase mortgages. For refinancing mortgages, First Citizens National Bank is similar to other lenders for Conforming, FHA, Jumbo 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 First Citizens National Bank:

Registered name: First Citizens National Bank
Registered city and state: DYERSBURG, TN, 38024
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: FIRST CITIZENS 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 Citizens 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.