We compare mortgage interest rate and loan related closing costs at First National Bank Of Omaha with other lenders for mortgages with similar borrower characteristics:
Interest Rate: lower than average (-0.06%)
Loan Related Closing Costs: lower than average (-$279)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, First National Bank Of Omaha originated 7341 mortgages, a national market share of 0.1%. It was most active in NE (11.5% market share), KS (1.1% market share), and CO (0.7% market share).
On average, First National Bank Of Omaha’s interest rates were lower than those of comparable mortgages at other lenders (-0.06%).1The comparable mortgages control for First National Bank Of Omaha’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $2968, which was lower than those of comparable mortgages at $3247, with a difference of -$279. Overall, we estimate that First National Bank Of Omaha tends to be an cheap lender, with a cost-adjusted-rate difference of -0.09% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with First National Bank Of Omaha.
First National Bank Of Omaha originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from First National Bank Of Omaha compared to other lenders
|Interest Rate Difference||-0.04%||-0.17%||-0.10%||-0.10%|
|Loan related Closing Cost Difference||-$220||-$258||-$215||-$447|
|Cost Adjusted Rate Difference||-0.06%||-0.20%||-0.13%||-0.13%|
Based on the table above, First National Bank Of Omaha is cheap for Conforming, FHA, USDA and VA purchase mortgages.
Mortgage Refinancing from First National Bank Of Omaha compared to other lenders
|Interest Rate Difference||-0.03%||-0.06%||-0.10%|
|Loan Related Closing Cost Difference||-$385||-$765||-$725|
|Cost Adjusted Rate Difference||-0.07%||-0.15%||-0.17%|
Based on the table above, First National Bank Of Omaha is cheap for Conforming, FHA and VA mortgage refinance.
Other information about First National Bank Of Omaha:
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: LAURITZEN CORPORATION
Registered city and state: OMAHA, NE, 68197