First Financial Federal Credit Union Mortgage Rates, Fees & Info

Freehold, NJ

LEI: 2549000UEC0BWG8F1402

Tax ID: 21-0635256

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First Financial Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. First Financial Federal Credit Union has a high proportion of conventional loans. Their top two markets are New York and Philadelphia .

    First Financial Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First Financial Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 4.86% 12/30/24
    30 Year Conventional Refi 6.27% 12/30/24
    30 Year Cash-out Refi 6.27% 12/30/24
    15 Year Conventional Refi 6.06% 12/30/24
    15 Year Cash-out Refi 6.06% 12/30/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    First Financial Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First Financial Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    105

    Origination Dollar Volume (All Markets)

    $5,505,000

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 103 $5,435,000 $52,767 $123 4.61%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.50%
    First Financial Federal Credit Union's top markets include New York and Philadelphia among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 89 $4,765,000 $53,539 $120 4.77%
    HELOC 16 $740,000 $46,250 n/a 3.86%

    For 2022, First Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 89 originations. Their 2nd most popular type was HELOC, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 77 $3,735,000 $48,506 $0 4.56%
    Cash Out Refi 22 $1,130,000 $51,364 $0 4.74%
    Other 3 $195,000 $65,000 $0 5.33%
    Refi 2 $300,000 $150,000 $3,561 4.38%
    Home Purchase 1 $145,000 $145,000 $3,561 5.75%

    For 2022, First Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 77 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 40 $2,150,000 $53,750 $0 4.21%
    15 Year 32 $1,640,000 $51,250 $209 4.73%
    20 Year 16 $1,040,000 $65,000 $223 5.93%
    5 Year 16 $530,000 $33,125 $0 4.12%
    30 Year 1 $145,000 $145,000 $3,561 5.75%

    For 2022, First Financial Federal Credit Union's most frequently cited loan duration was 10 Year, with 40 originations. The 2nd most popular length was 15 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 89 $4,765,000 $53,539

    First Financial Federal Credit Union's average total fees were $3,561, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 89 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 45 $2,285,000 $50,778
    5-6% 33 $1,865,000 $56,515
    3-4% 24 $1,180,000 $49,167
    6-7% 3 $175,000 $58,333

    During 2022, First Financial Federal Credit Union's average interest rate for loans was 5.75%, while their most frequently originated rate bucket for loans was 4-5%, with 45 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 100 $4,850,000 $48,500 $0 4.62%
    $100k-200k 5 $655,000 $131,000 $2,137 4.93%

    2022 saw First Financial Federal Credit Union place emphasis on $100,000 or less loans with 100 originations, totaling $4,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 42 $2,330,000 $55,476 $105 4.62%
    $150k-250k 21 $1,235,000 $58,810 $0 4.52%
    $75k-100k 18 $820,000 $45,556 $209 4.66%
    $50k-75k 15 $705,000 $47,000 $297 4.79%
    $50k or less 6 $250,000 $41,667 $0 4.46%
    $250k+ 2 $100,000 $50,000 $0 4.13%

    First Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $150k-250k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $1,620,000 $50,625 $0 4.47%
    30-36% 29 $1,485,000 $51,207 $0 4.67%
    <20% 11 $465,000 $42,273 $396 4.25%
    39% 8 $570,000 $71,250 $0 4.80%
    37% 7 $305,000 $43,571 $0 4.64%
    38% 5 $155,000 $31,000 $0 5.03%
    41% 4 $280,000 $70,000 $0 5.75%
    40% 3 $155,000 $51,667 $0 5.42%
    36% 3 $125,000 $41,667 $0 4.29%
    42% 1 $45,000 $45,000 $0 4.13%
    43% 1 $105,000 $105,000 $3,561 4.88%
    46% 1 $195,000 $195,000 $3,561 3.88%

    First Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $3,870,000 $48,375 $0 4.56%
    Not provided 14 $770,000 $55,000 $0 4.84%
    Black 9 $655,000 $72,778 $890 4.85%
    Asian 2 $210,000 $105,000 $1,781 4.94%

    Approval Rates

    Total approvals of all applications
    51.36%

    First Financial Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    97.14%

    First Financial Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 105 $5,505,000 $52,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    105 $5,505,000 $52,429

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $900,000 $75,000 $324 5.03%
    80-100% 1 $145,000 $145,000 $3,561 5.75%
    Under 20% 91 $4,265,000 $46,868 $0 4.57%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%