First Federal Savings And Loan Association Of Delta Mortgage Rates, Fees & Info

Delta, OH

LEI: 2549001WH56IR3WR8F53

Tax ID: 34-4233110

5 stars - Updated: 3/28/24 - out of 5 stars, based on 7 reviews

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

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Mortgage Data

Review & Overview

First Federal Savings And Loan Association Of Delta is a smaller mortgage company specializing in Home Purchase loans. First Federal Savings And Loan Association Of Delta has a high proportion of conventional loans. Their top (well, only) market is Toledo.

First Federal Savings And Loan Association Of Delta has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Federal Savings And Loan Association Of Delta 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.73% 3/28/24
30 Year Cash-out Refi 6.72% 3/28/24
15 Year Conventional Purchase 6.48% 3/28/24
15 Year Conventional Refi 6.41% 3/28/24
15 Year Cash-out Refi 6.41% 3/28/24
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 Federal Savings And Loan Association Of Delta Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Federal Savings And Loan Association Of Delta. 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

48

Origination Dollar Volume (All Markets)

$10,140,000

Awards

First Federal Savings and Loan Association of Delta 30 Year Conventional Loans gold First Federal Savings and Loan Association of Delta 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

First Federal Savings And Loan Association Of Delta's average 30 year fixed mortgage rate was 6.74%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.26%.

Relative Fees (Closing Costs)

First Federal Savings And Loan Association Of Delta's average total fees/closing costs for a 30 year fixed rate mortgage were $2,383.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
TOLEDO, OH (FHA|USDA|VA) 44 $9,190,000 $208,864 $2,450 6.70%
Outside of Metro Areas 4 $950,000 $237,500 $2,395 6.81%
First Federal Savings And Loan Association Of Delta's top markets include and Toledo among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First Federal Savings and Loan Association of Delta based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 48 $10,140,000 $211,250 $2,445 6.71%

    For 2023, First Federal Savings And Loan Association Of Delta's most frequently originated type of loan was Conventional, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 33 $7,975,000 $241,667 $2,692 6.72%
    Cash Out Refi 12 $1,640,000 $136,667 $1,924 6.60%
    Refi 3 $525,000 $175,000 $1,811 7.04%

    For 2023, First Federal Savings And Loan Association Of Delta's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 33 $5,415,000 $164,091 $2,383 6.74%
    30+ year 6 $2,680,000 $446,667 $3,402 6.98%
    15 Year 5 $905,000 $181,000 $2,203 6.18%
    1 Year 2 $380,000 $190,000 $1,198 7.13%
    20 Year 1 $105,000 $105,000 $1,944 6.25%
    Other 1 $655,000 $655,000 $2,965 6.25%

    For 2023, First Federal Savings And Loan Association Of Delta's most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was 30+ year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 48 $10,140,000 $211,250

    First Federal Savings And Loan Association Of Delta's average total fees were $2,383, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 48 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 35 $7,045,000 $201,286
    7-8% 9 $2,335,000 $259,444
    5-6% 3 $705,000 $235,000
    Over 8% 1 $55,000 $55,000

    During 2023, First Federal Savings And Loan Association Of Delta's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was 6-7%, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 21 $2,855,000 $135,952 $2,155 6.68%
    $100,000 or less 10 $750,000 $75,000 $1,923 6.78%
    $200k-400k 10 $2,830,000 $283,000 $2,896 6.53%
    $400k-600k 5 $2,355,000 $471,000 $3,552 7.15%
    $600k-1MM 2 $1,350,000 $675,000 $3,084 6.50%

    2023 saw First Federal Savings And Loan Association Of Delta place emphasis on $100k-200k loans with 21 originations, totaling $2,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $3,685,000 $245,667 $2,667 6.83%
    $50k-75k 10 $1,120,000 $112,000 $2,091 6.46%
    $150k-250k 8 $2,580,000 $322,500 $2,845 6.75%
    $50k or less 7 $585,000 $83,571 $2,156 6.80%
    $75k-100k 5 $625,000 $125,000 $2,261 6.58%
    $250k+ 3 $1,545,000 $515,000 $2,437 6.79%

    First Federal Savings And Loan Association Of Delta lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $3,455,000 $203,235 $2,242 6.55%
    30-36% 10 $2,290,000 $229,000 $2,619 6.63%
    <20% 6 $890,000 $148,333 $2,185 6.92%
    41% 3 $1,025,000 $341,667 $3,383 7.00%
    40% 2 $570,000 $285,000 $2,479 7.06%
    >60% 2 $530,000 $265,000 $3,034 6.38%
    36% 2 $330,000 $165,000 $2,404 6.38%
    37% 2 $500,000 $250,000 $2,686 7.19%
    38% 2 $330,000 $165,000 $2,251 7.00%
    50-60% 1 $105,000 $105,000 $1,917 6.38%
    43% 1 $115,000 $115,000 $2,184 7.50%

    First Federal Savings And Loan Association Of Delta lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $10,140,000 $211,250 $2,445 6.71%

    Approval Rates

    Total approvals of all applications
    98.25%

    First Federal Savings And Loan Association Of Delta has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    83.33%

    First Federal Savings And Loan Association Of Delta has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 48 $10,140,000 $211,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    48 $10,140,000 $211,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $450,000 $112,500 $2,125 6.50%
    40-60% 6 $810,000 $135,000 $2,252 6.58%
    60-80% 20 $5,190,000 $259,500 $2,563 6.62%
    80-100% 17 $3,645,000 $214,412 $2,507 6.93%
    Under 20% 1 $45,000 $45,000 $1,475 6.38%