First Bank and Trust Company Mortgage Interest Rate and Cost Review

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

Interest Ratesimilar to average (+0.05%)
Loan Related Closing Costssimilar to average (-$131)
National Rate and Closing Cost Rating(3.5)
Websitehttps://www.firstbank.com

On average, First Bank and Trust Company’s interest rates were similar to those of other lenders (+0.05%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$131. Overall, combining interest rates and closing costs we estimate that First Bank and Trust Company tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

First Bank and Trust Company’s Rates by Area

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

  1. Johnson City, TN
  2. Lynchburg, VA
  3. Roanoke, VA
  4. Princeton, WV
  5. Staunton, VA

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

First Bank and Trust Company’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 Bank and Trust Company originated Conforming and Jumbo mortgages for new home purchases. It also originated Conforming 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 MortgagesConformingJumbo
Interest Rate Difference+0.05%+0.02%
Loan Related Closing Cost Difference-$22-$45
Cost Adjusted Rate Difference+0.03%+0.02%
Star Rating(3.5)(3.5)
Refinance MortgagesConforming
Interest Rate Difference+0.07%
Loan Related Closing Cost Difference-$310
Cost Adjusted Rate Difference+0.03%
Star Rating(3.5)

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

Other information about First Bank and Trust Company:

Registered name: The First Bank and Trust Company
Registered city and state: Abingdon, VA, 24212
Regulator: Federal Reserve System (FRS)
Top holder: FIRST 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 Bank and Trust Company’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.