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

Delta, OH

LEI: 2549001WH56IR3WR8F53

Tax ID: 34-4233110

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

Review & Overview

First Federal Savings And Loan Association Of Delta is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. First Federal Savings And Loan Association Of Delta has a high proportion of conventional loans. Their top two markets are Toledo and Fremont .

First Federal Savings And Loan Association Of Delta has an above average approval rate when compared to the average across all lenders. They have an above 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 about average 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%	5/5/24
30 Year Cash-out Refi	6.72%	5/5/24
15 Year Conventional Purchase	6.48%	5/5/24
15 Year Conventional Refi	6.41%	5/5/24
15 Year Cash-out Refi	6.41%	5/5/24
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

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

Originations

Origination Dollar Volume (All Markets)

$12,140,000

Employee count

Awards

First Federal Savings and Loan Association of Delta 30 Year Conventional Loans gold

Show all (2) awards

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)	78	$11,640,000	$149,231	$1,619	4.35%
Outside of Metro Areas	3	$345,000	$115,000	$1,398	4.42%
Fremont, OH (FHA\|USDA\|VA)	1	$155,000	$155,000	$1,937	4.88%

First Federal Savings And Loan Association Of Delta's top markets include Toledo and Fremont 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.

Bay Area Credit Union, Inc.
Similarity Rank: 13

JEEP COUNTRY
Similarity Rank: 78

First Federal Savings and Loan Association of Delta
Similarity Rank: 126

First National Bank of Bellevue
Similarity Rank: 380

POLARIS HOME FUNDING CORP.
Similarity Rank: 418

THE BANKERS GUARANTEE TITLE & TRUST COMPANY
Similarity Rank: 561

The Genoa Banking Company
Similarity Rank: 840

SUN Federal Credit Union
Similarity Rank: 875

Third Federal Savings and Loan Association of Cleveland
Similarity Rank: 1044

HOME MORTGAGE ASSURED CORPORATION
Similarity Rank: 1312

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	82	$12,140,000	$148,049	$1,614	4.36%

For 2019, First Federal Savings And Loan Association Of Delta's most frequently originated type of loan was Conventional, with 82 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	38	$6,140,000	$161,579	$1,843	4.57%
Cash Out Refi	31	$3,415,000	$110,161	$1,287	4.03%
Refi	11	$2,095,000	$190,455	$1,522	4.56%
Home Improvement	2	$490,000	$245,000	$2,854	4.56%

For 2019, First Federal Savings And Loan Association Of Delta's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	49	$7,355,000	$150,102	$1,568	4.56%
15 Year	14	$1,620,000	$115,714	$1,337	3.68%
20 Year	11	$1,365,000	$124,091	$1,679	4.28%
30+ year	5	$1,625,000	$325,000	$2,957	4.63%
10 Year	3	$175,000	$58,333	$1,192	4.17%

For 2019, First Federal Savings And Loan Association Of Delta's most frequently cited loan duration was 30 Year, with 49 originations. The 2nd most popular length was 15 Year, with 14 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	82	$12,140,000	$148,049

First Federal Savings And Loan Association Of Delta's average total fees were $1,568, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 82 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	41	$6,635,000	$161,829
3-4%	34	$4,450,000	$130,882
5-6%	4	$770,000	$192,500
7-8%	3	$285,000	$95,000

During 2019, First Federal Savings And Loan Association Of Delta's average interest rate for loans was 4.56%, while their most frequently originated rate bucket for loans was 4-5%, with 41 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	33	$4,875,000	$147,727	$1,614	4.45%
$100,000 or less	31	$2,035,000	$65,645	$1,222	4.29%
$200k-400k	15	$3,685,000	$245,667	$2,113	4.31%
$400k-600k	3	$1,545,000	$515,000	$3,175	4.46%

2019 saw First Federal Savings And Loan Association Of Delta place emphasis on $100k-200k loans with 33 originations, totaling $4,875,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	29	$3,545,000	$122,241	$1,470	4.54%
$50k or less	16	$1,450,000	$90,625	$1,331	4.30%
$100k-150k	14	$2,380,000	$170,000	$1,706	4.38%
$75k-100k	13	$1,795,000	$138,077	$1,682	4.14%
$150k-250k	8	$2,580,000	$322,500	$2,467	4.30%

First Federal Savings And Loan Association Of Delta lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $50k or less, with 16 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	31	$4,025,000	$129,839	$1,444	4.29%
30-36%	20	$3,530,000	$176,500	$1,750	4.39%
<20%	14	$1,580,000	$112,857	$1,693	4.22%
39%	2	$340,000	$170,000	$2,284	4.31%
36%	2	$450,000	$225,000	$1,880	4.69%
37%	2	$390,000	$195,000	$1,738	4.69%
42%	2	$360,000	$180,000	$1,525	4.88%
44%	2	$300,000	$150,000	$1,851	4.56%
41%	1	$255,000	$255,000	$2,100	4.88%
47%	1	$135,000	$135,000	$1,433	7.50%
43%	1	$145,000	$145,000	$1,506	4.50%
38%	1	$45,000	$45,000	$1,095	3.50%
40%	1	$195,000	$195,000	$1,244	3.50%

First Federal Savings And Loan Association Of Delta lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 20 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	79	$11,655,000	$147,532	$1,623	4.38%
Asian	3	$485,000	$161,667	$1,392	3.92%

Approval Rates

Total approvals of all applications
97.75%

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
93.90%

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

Points and Fees

Points	Originations	Total Value	Average Loan
NA	82	$12,140,000	$148,049

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	82	$12,140,000	$148,049

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	6	$280,000	$46,667	$1,162	4.54%
40-60%	17	$1,725,000	$101,471	$1,258	4.18%
60-80%	35	$6,795,000	$194,143	$1,889	4.38%
80-100%	23	$3,305,000	$143,696	$1,600	4.46%
Under 20%	1	$35,000	$35,000	$1,100	3.63%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
First Technology Federal Credit Union	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%
First Technology Federal Credit Union	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%
First Technology Federal Credit Union	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Trouble during payment process	4	57.1%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Federal Savings and Loan Association	123 N Main St Swanton, OH 43558	Full Service B&M	$30,532
First Federal Savings and Loan Association	30 South Third St Waterville, OH 43566	Full Service B&M	$21,113
First Federal Savings and Loan Association	3234 North Holland Sylvania Road Toledo, OH 43615	Full Service B&M	$12,423
First Federal Savings and Loan Association	404 Main Street Delta, OH 43515	Full Service B&M	$44,389
First Federal Savings and Loan Association	6600 Providence Street Whitehouse, OH 43571	Full Service B&M	$20,021
First Federal Savings and Loan Association	6910 Airport Highway Holland, OH 43528	Full Service B&M	$12,500

For 2019, First Federal Savings And Loan Association Of Delta had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$5,424
Net interest income	$5,261
Total noninterest income	$601
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$120
Trading account gains and fees	$0
Additional Noninterest Income	$481
Pre-tax net operating income	$782
Securities gains (or losses, -)	$0
Income before extraordinary items	$658
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$658
Minority interest net income	$0
Net income	$658
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$658

First Federal Savings And Loan Association Of Delta's gross interest income from loans was $5,424,000.
First Federal Savings And Loan Association Of Delta's net interest income from loans was $5,261,000.
First Federal Savings And Loan Association Of Delta's fee based income from loans was $120,000.
First Federal Savings And Loan Association Of Delta's net income from loans was $658,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$163
Provision for credit losses	$135
Total noninterest expense	$4,945
Salaries and employee benefits	$2,503
Premises and equipment expense	$572
Additional noninterest expense	$1,870
Applicable income taxes	$124
Net charge-offs	$0
Cash dividends	$0

First Federal Savings And Loan Association Of Delta's interest expense for loans was $163,000.
First Federal Savings And Loan Association Of Delta's payroll and benefits expense were $2,503,000.
First Federal Savings And Loan Association Of Delta's property, plant and equipment expenses $572,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$143,136
Deposits held in domestic offices	$143,136
Deposits by Individuals, partnerships, and corporations	$143,087
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$50
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$63,284
Demand deposits	$24,690
Nontransaction accounts	$79,853
Money market deposit accounts (MMDAs)	$0
Other savings deposits (excluding MMDAs)	$63,666
Total time deposits	$16,187
Total time and savings deposits	$118,447
Noninterest-bearing deposits	$24,706
Interest-bearing deposits	$118,430
Retail deposits	$141,906
IRAs and Keogh plan accounts	$4,170
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$165,024
Cash & Balances due from depository institutions	$36,798
Interest-bearing balances	$35,085
Total securities	$30,887
Federal funds sold & reverse repurchase	$0
Net loans and leases	$84,176
Loan and leases loss allowance	$396
Trading account assets	$0
Bank premises and fixed assets	$3,751
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$9,412

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$165,024
Total Liabilities	$143,730
Total deposits	$143,136
Interest-bearing deposits	$118,430
Deposits held in domestic offices	$143,136
% insured (estimated)	$86
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$594

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$84,176
Loan and leases loss allowance	$396
Total loans and leases (domestic)	$84,572
All real estate loans	$83,796
Real estate loans in domestic offices	$83,796
Construction and development loans	$1,218
Residential 1-4 family construction	$752
Other construction, all land development and other land	$466
Loans secured by nonfarm nonresidential properties	$515
Nonfarm nonresidential secured by owner-occupied properties	$515
Commercial real estate & other non-farm, non-residential	$0
Multifamily residential real estate	$0
1-4 family residential loans	$82,063
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$60
Commercial and industrial loans	$432
To non-U.S. addressees	$0
Loans to individuals	$363
Credit card loans	$0
Related Plans	$8
Consumer Auto Loans	$236
Other loans to individuals	$119
All other loans & leases	$0
Loans to foreign governments and official institutions	$0
Other loans	$0
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$126
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First Federal Savings and Loan Association of Delta had $84,176,000 of loans outstanding in 2019. $83,796,000 of loans were in real estate loans. $1,218,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $82,063,000 of loans were in 1-4 family mortgage loans. $60,000 of loans were in farm loans. $0 of loans were in credit card loans. $236,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	7	$515	$73,571
Nonfarm, nonresidential loans - <$100k	3	$124	$41,333
Nonfarm, nonresidential loans - $100-250k	2	$91	$45,500
Nonfarm, nonresidential loans - $250k-1MM	2	$300	$150,000
Commercial & Industrial, US addressed loans - <$1MM	16	$432	$27,000
Commercial & Industrial, US addressed loans - <$100k	13	$221	$17,000
Commercial & Industrial, US addressed loans - $100-250k	2	$117	$58,500
Commercial & Industrial, US addressed loans - $250k-1MM	1	$94	$94,000
Agriculture operations loans - <$1MM	3	$60	$20,000
Agriculture operations loans - <$100k	3	$60	$20,000