First Bank offers a comprehensive suite of mortgage options to meet the needs of a diverse range of homebuyers. They have over 100 branches across North and South Carolina, and offer a number of less conventional mortgage offerings, including ITIN Loans to support borrowers without a Social Security number and One-Time-Close Construction-to-Permanent Loans, which aim streamline the process for new home construction.
See today’s mortgage interest rates on TrueRate.
How First Bank compares to other lenders
| Headquarters | Southern Pines, North Carolina |
| Website | localfirstbank.com |
| Rate | 0.22% lower than the median rate |
| Lender fees | $850 (median on First Bank loans) |
| Savings after 1 year, compared to the median interest rate | $1,073 |
| Savings after 10 years, compared to the median interest rate | $7,397 |
For a $400,000 mortgage, First Bank’s rates—about 0.22% below the market median—and $850 in lender fees result in estimated savings of approximately $1,073 in the first year and nearly $7,397 after 10 years compared to the market norms.
What customers are saying
Overall, reviews are mixed—some customers of First Bank praise the friendly and accommodating staff at local branches, while others express frustration with errors, lack of transparency, and impersonal treatment from the corporate office. There are no detailed, recent reviews specifically outlining the mortgage process, rates, or closing experiences, but the general feedback suggests that the quality of mortgage service may depend heavily on the specific branch and banker involved
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.