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 Refi, 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 Defiance .

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%	4/28/24
30 Year Cash-out Refi	6.72%	4/28/24
15 Year Conventional Purchase	6.48%	4/28/24
15 Year Conventional Refi	6.41%	4/28/24
15 Year Cash-out Refi	6.41%	4/28/24
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

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

Originations

172

Origination Dollar Volume (All Markets)

$30,980,000

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)	155	$28,465,000	$183,645	$2,007	3.12%
Outside of Metro Areas	14	$2,180,000	$155,714	$1,846	2.96%
Defiance, OH (FHA\|USDA\|VA)	3	$335,000	$111,667	$2,024	3.42%

First Federal Savings And Loan Association Of Delta's top markets include Toledo and Defiance 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: 12

First Federal Savings and Loan Association of Delta
Similarity Rank: 150

The Henry County Bank
Similarity Rank: 333

First Federal Savings and Loan Association of Lorain
Similarity Rank: 666

The Croghan Colonial Bank
Similarity Rank: 952

First National Bank of Bellevue
Similarity Rank: 962

The Genoa Banking Company
Similarity Rank: 1305

Union Savings Bank
Similarity Rank: 1650

The Old Fort Banking Company
Similarity Rank: 1680

THE EQUITABLE MORTGAGE CORPORATION
Similarity Rank: 2640

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	172	$30,980,000	$180,116	$1,994	3.11%

For 2021, First Federal Savings And Loan Association Of Delta's most frequently originated type of loan was Conventional, with 172 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	63	$10,385,000	$164,841	$1,822	2.90%
Home Purchase	57	$12,605,000	$221,140	$2,417	3.29%
Cash Out Refi	49	$7,755,000	$158,265	$1,754	3.08%
Other	3	$235,000	$78,333	$1,502	4.42%

For 2021, First Federal Savings And Loan Association Of Delta's most frequently cited loan purpose was Refi, with 63 originations. The 2nd most popular reason was Home Purchase, with 57 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	96	$17,970,000	$187,188	$2,084	3.24%
15 Year	50	$6,710,000	$134,200	$1,803	2.72%
20 Year	14	$2,200,000	$157,143	$1,814	3.11%
Other	6	$950,000	$158,333	$2,140	2.79%
30+ year	4	$3,030,000	$757,500	$2,940	3.41%
10 Year	2	$120,000	$60,000	$1,401	7.25%

For 2021, First Federal Savings And Loan Association Of Delta's most frequently cited loan duration was 30 Year, with 96 originations. The 2nd most popular length was 15 Year, with 50 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	171	$30,895,000	$180,673
$2k-3k	1	$85,000	$85,000

First Federal Savings And Loan Association Of Delta's average total fees were $2,084, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 171 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	81	$13,385,000	$165,247
3-4%	64	$13,710,000	$214,219
<2.5%	22	$3,290,000	$149,545
4-5%	3	$475,000	$158,333
7-8%	2	$120,000	$60,000

During 2021, First Federal Savings And Loan Association Of Delta's average interest rate for loans was 3.24%, while their most frequently originated rate bucket for loans was 2.5-3%, with 81 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	79	$11,635,000	$147,278	$1,916	3.03%
$100,000 or less	48	$3,530,000	$73,542	$1,686	3.22%
$200k-400k	37	$10,025,000	$270,946	$2,338	3.11%
$400k-600k	4	$1,850,000	$462,500	$2,837	3.00%
$600k-1MM	3	$2,075,000	$691,667	$3,130	3.42%
$1MM+	1	$1,865,000	$1,865,000	$3,434	3.50%

2021 saw First Federal Savings And Loan Association Of Delta place emphasis on $100k-200k loans with 79 originations, totaling $11,635,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	44	$8,930,000	$202,955	$2,224	3.06%
$75k-100k	40	$6,330,000	$158,250	$1,910	3.23%
$50k-75k	28	$3,110,000	$111,071	$1,710	3.06%
$150k-250k	25	$5,155,000	$206,200	$1,987	3.14%
$50k or less	22	$1,840,000	$83,636	$1,790	3.03%
$250k+	9	$5,105,000	$567,222	$2,848	3.24%

First Federal Savings And Loan Association Of Delta lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $75k-100k, with 40 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	69	$14,515,000	$210,362	$2,056	3.14%
<20%	55	$8,935,000	$162,455	$2,020	3.15%
30-36%	32	$4,790,000	$149,688	$1,909	2.98%
40%	3	$955,000	$318,333	$2,337	3.25%
38%	2	$260,000	$130,000	$1,868	3.31%
36%	2	$450,000	$225,000	$2,053	3.19%
37%	2	$360,000	$180,000	$1,881	3.31%
39%	1	$55,000	$55,000	$1,479	3.25%
41%	1	$85,000	$85,000	$1,302	3.00%
>60%	1	$65,000	$65,000	$1,402	2.88%

First Federal Savings And Loan Association Of Delta lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? <20%, with 55 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	172	$30,980,000	$180,116	$1,994	3.11%

Approval Rates

Total approvals of all applications
98.92%

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
93.60%

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

Points and Fees

Points	Originations	Total Value	Average Loan
NA	172	$30,980,000	$180,116

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	172	$30,980,000	$180,116

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	16	$1,400,000	$87,500	$1,644	2.72%
40-60%	38	$5,370,000	$141,316	$1,864	2.97%
60-80%	72	$14,050,000	$195,139	$2,029	3.07%
80-100%	44	$10,070,000	$228,864	$2,206	3.44%
Under 20%	2	$90,000	$45,000	$1,365	3.00%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
First Technology Federal Credit Union	Other type of mortgage	Trouble during payment process	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Closing on a mortgage	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Incorrect information on your report	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Trouble during payment process	2	28.6%
First Technology Federal Credit Union	FHA mortgage	Struggling to pay 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%

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	$36,483
First Federal Savings and Loan Association	30 South Third St Waterville, OH 43566	Full Service B&M	$26,409
First Federal Savings and Loan Association	3234 North Holland Sylvania Road Toledo, OH 43615	Full Service B&M	$16,724
First Federal Savings and Loan Association	404 Main Street Delta, OH 43515	Full Service B&M	$55,889
First Federal Savings and Loan Association	6600 Providence Street Whitehouse, OH 43571	Full Service B&M	$32,770
First Federal Savings and Loan Association	8165 Airport Highway Holland, OH 43528	Full Service B&M	$20,926

For 2021, First Federal Savings And Loan Association Of Delta had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$4,573
Net interest income	$4,421
Total noninterest income	$852
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$92
Trading account gains and fees	$0
Additional Noninterest Income	$760
Pre-tax net operating income	$446
Securities gains (or losses, -)	$0
Income before extraordinary items	$394
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$394
Minority interest net income	$0
Net income	$394
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$394

First Federal Savings And Loan Association Of Delta's gross interest income from loans was $4,573,000.
First Federal Savings And Loan Association Of Delta's net interest income from loans was $4,421,000.
First Federal Savings And Loan Association Of Delta's fee based income from loans was $92,000.
First Federal Savings And Loan Association Of Delta's net income from loans was $394,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$152
Provision for credit losses	$0
Total noninterest expense	$4,827
Salaries and employee benefits	$2,362
Premises and equipment expense	$666
Additional noninterest expense	$1,799
Applicable income taxes	$52
Net charge-offs	$0
Cash dividends	$0

First Federal Savings And Loan Association Of Delta's interest expense for loans was $152,000.
First Federal Savings And Loan Association Of Delta's payroll and benefits expense were $2,362,000.
First Federal Savings And Loan Association Of Delta's property, plant and equipment expenses $666,000.

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	$204,211
Deposits held in domestic offices	$204,211
Deposits by Individuals, partnerships, and corporations	$202,910
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$1,300
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	$96,735
Demand deposits	$36,165
Nontransaction accounts	$107,475
Money market deposit accounts (MMDAs)	$0
Other savings deposits (excluding MMDAs)	$90,144
Total time deposits	$17,331
Total time and savings deposits	$168,045
Noninterest-bearing deposits	$36,160
Interest-bearing deposits	$168,051
Retail deposits	$203,229
IRAs and Keogh plan accounts	$4,615
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$226,706
Cash & Balances due from depository institutions	$59,563
Interest-bearing balances	$57,704
Total securities	$65,199
Federal funds sold & reverse repurchase	$0
Net loans and leases	$88,677
Loan and leases loss allowance	$436
Trading account assets	$0
Bank premises and fixed assets	$3,709
Other real estate owned	$0
Goodwill and other intangibles	$17
All other assets	$9,541

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$226,706
Total Liabilities	$204,825
Total deposits	$204,211
Interest-bearing deposits	$168,051
Deposits held in domestic offices	$204,211
% insured (estimated)	$87
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$614

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$88,677
Loan and leases loss allowance	$436
Total loans and leases (domestic)	$89,113
All real estate loans	$87,317
Real estate loans in domestic offices	$87,317
Construction and development loans	$3,190
Residential 1-4 family construction	$2,763
Other construction, all land development and other land	$427
Loans secured by nonfarm nonresidential properties	$1,223
Nonfarm nonresidential secured by owner-occupied properties	$1,223
Commercial real estate & other non-farm, non-residential	$0
Multifamily residential real estate	$0
1-4 family residential loans	$82,904
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$30
Commercial and industrial loans	$1,122
To non-U.S. addressees	$0
Loans to individuals	$710
Credit card loans	$0
Related Plans	$8
Consumer Auto Loans	$465
Other loans to individuals	$237
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First Federal Savings and Loan Association of Delta had $88,677,000 of loans outstanding in 2021. $87,317,000 of loans were in real estate loans. $3,190,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $82,904,000 of loans were in 1-4 family mortgage loans. $30,000 of loans were in farm loans. $0 of loans were in credit card loans. $465,000 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	9	$1,222	$135,778
Nonfarm, nonresidential loans - <$100k	4	$194	$48,500
Nonfarm, nonresidential loans - $100-250k	2	$242	$121,000
Nonfarm, nonresidential loans - $250k-1MM	3	$786	$262,000
Commercial & Industrial, US addressed loans - <$1MM	27	$1,121	$41,519
Commercial & Industrial, US addressed loans - <$100k	22	$498	$22,636
Commercial & Industrial, US addressed loans - $100-250k	3	$253	$84,333
Commercial & Industrial, US addressed loans - $250k-1MM	2	$370	$185,000
Agriculture operations loans - <$1MM	2	$30	$15,000
Agriculture operations loans - <$100k	2	$30	$15,000