First Federal Bank Of Ohio Mortgage Rates, Fees & Info
Galion, OHLEI: 2549007S3Y4859VJ1444
Tax ID: 34-4239952
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Mortgage Data
Review & Overview
First Federal Bank Of Ohio is a smaller bank specializing in Home Purchase loans. First Federal Bank Of Ohio has a high proportion of conventional loans. First Federal Bank Of Ohio has a low ratio of conventional loans. Their top markets by origination volume include: Columbus, Mansfield, Sandusky, Bucyrus, and Tiffin among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)First Federal Bank Of Ohio has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. First Federal Bank Of Ohio 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.
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Originations
95Origination Dollar Volume (All Markets)
$11,915,000Relative Rate
First Federal Bank Of Ohio's average 30 year fixed mortgage rate was
7.75%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.27%.
Relative Fees (Closing Costs)
First Federal Bank Of Ohio's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,508.
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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 26 | $3,240,000 | $124,615 | $0 | 0.00% |
| MANSFIELD, OH (FHA|USDA|VA) | 17 | $2,305,000 | $135,588 | $2,508 | 7.75% |
| Sandusky, OH (FHA|USDA|VA) | 14 | $2,120,000 | $151,429 | $0 | 0.00% |
| Bucyrus-Galion, OH (FHA|USDA|VA) | 20 | $1,890,000 | $94,500 | $0 | 0.00% |
| Tiffin, OH (FHA|USDA|VA) | 9 | $1,115,000 | $123,889 | $0 | 0.00% |
| Norwalk, OH (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $0 | 0.00% |
| Mount Vernon, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Fremont, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 94 | $11,820,000 | $125,745 | $0 | 0.00% |
| Conventional | 1 | $95,000 | $95,000 | $2,508 | 7.75% |
For 2023, First Federal Bank Of Ohio's most frequently originated type of loan was Conventional, with 94 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
For 2023, First Federal Bank Of Ohio's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Home Improvement, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 94 | $11,820,000 | $125,745 | $0 | 0.00% |
| 30 Year | 1 | $95,000 | $95,000 | $2,508 | 7.75% |
For 2023, First Federal Bank Of Ohio's most frequently cited loan duration was Other, with 94 originations. The 2nd most popular length was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $95,000 | $95,000 |
First Federal Bank Of Ohio's average total fees were $2,508, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 1 | $95,000 | $95,000 |
During 2023, First Federal Bank Of Ohio's average interest rate for loans was 7.75%, while their most frequently originated rate bucket for loans was 7-8%, with 1 originations.
Loan Sizing
2023 saw First Federal Bank Of Ohio place emphasis on $100,000 or less loans with 43 originations, totaling $2,035,000 in origination value.
Applicant Income
First Federal Bank Of Ohio lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $50k or less, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 94 | $11,820,000 | $125,745 | $0 | 0.00% |
| 37% | 1 | $95,000 | $95,000 | $2,508 | 7.75% |
First Federal Bank Of Ohio lent most frequently to those with DTI ratios of Exempt%, with 94 originations. The next most common DTI ratio? 37%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.32%
First Federal Bank Of Ohio has an average approval rate.
Pick Rate
Approvals leading to origination93.68%
First Federal Bank Of Ohio has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 94 | $11,820,000 | $125,745 |
| NA | 1 | $95,000 | $95,000 |