First Financial Credit Union Mortgage Rates, Fees & Info

Skokie, IL

LEI: 2549008684GZZI5B5H82

Tax ID: 36-1855525

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

Review & Overview

First Financial Credit Union is a smaller credit union specializing in Home Purchase loans. First Financial Credit Union has a high proportion of conventional loans. Their top two markets are Chicago and Peoria .

First Financial Credit Union 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 Financial 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 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.

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
Home Equity Line of Credit (HELOC)	6.27%	11/21/24
30 Year Conventional Purchase	6.67%	11/21/24
30 Year Conventional Refi	6.52%	11/21/24
30 Year Cash-out Refi	6.86%	11/21/24
15 Year Conventional Purchase	5.80%	11/21/24
15 Year Conventional Refi	5.65%	11/21/24
15 Year Cash-out Refi	5.65%	11/21/24
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 Credit Union Mortgage Calculator

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This is not an official calculator from First Financial 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

258

Origination Dollar Volume (All Markets)

$53,620,000

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	256	$53,290,000	$208,164	$4,205	4.97%
Outside of Metro Areas	1	$245,000	$245,000	$4,975	4.75%
PEORIA, IL (FHA\|USDA\|VA)	1	$85,000	$85,000	$5,000	5.75%

First Financial Credit Union's top markets include Chicago and Peoria among others.

Their top states include:

Illinois (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against First Financial Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

UNITED
Similarity Rank: 28

Liberty Bank for Savings
Similarity Rank: 104

PACIFIC GLOBAL BANK
Similarity Rank: 408

The Equitable Bank, S.S.B.
Similarity Rank: 533

TECH Credit Union
Similarity Rank: 759

DuPage Credit Union
Similarity Rank: 852

First Financial Credit Union
Similarity Rank: 870

Third Federal Savings and Loan Association of Cleveland
Similarity Rank: 921

Community State Bank
Similarity Rank: 1032

Landmark Credit Union
Similarity Rank: 1056

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	182	$46,590,000	$255,989	$4,233	4.63%
HELOC	75	$6,935,000	$92,467	n/a	5.82%
VA	1	$95,000	$95,000	$676	5.50%

For 2018, First Financial Credit Union's most frequently originated type of loan was Conventional, with 182 originations. Their 2nd most popular type was HELOC, with 75 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	131	$31,985,000	$244,160	$4,856	4.69%
Other	37	$3,335,000	$90,135	$0	5.65%
Home Improvement	30	$2,970,000	$99,000	$0	6.07%
Refi	30	$7,460,000	$248,667	$2,712	4.51%
Cash Out Refi	30	$7,870,000	$262,333	$2,819	4.78%

For 2018, First Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 131 originations. The 2nd most popular reason was Other, with 37 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	143	$34,355,000	$240,245	$4,529	4.90%
15 Year	75	$13,235,000	$176,467	$4,054	4.95%
20 Year	39	$5,945,000	$152,436	$2,581	5.28%
10 Year	1	$85,000	$85,000	$0	5.50%

For 2018, First Financial Credit Union's most frequently cited loan duration was 30 Year, with 143 originations. The 2nd most popular length was 15 Year, with 75 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	104	$27,180,000	$261,346
$2k-3k	6	$1,620,000	$270,000
$<1k	2	$310,000	$155,000
$3k-4k	2	$740,000	$370,000

First Financial Credit Union's average total fees were $4,529, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 104 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	99	$26,615,000	$268,838
5-6%	92	$12,910,000	$140,326
3-4%	43	$12,035,000	$279,884
6-7%	22	$1,780,000	$80,909

During 2018, First Financial Credit Union's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 99 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	99	$27,645,000	$279,242	$4,290	4.55%
$100k-200k	68	$10,030,000	$147,500	$4,165	5.02%
$100,000 or less	65	$3,765,000	$57,923	$1,833	5.76%
$400k-600k	24	$10,790,000	$449,583	$5,717	4.48%
$600k-1MM	2	$1,390,000	$695,000	$2,794	4.19%

2018 saw First Financial Credit Union place emphasis on $200k-400k loans with 99 originations, totaling $27,645,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	85	$17,835,000	$209,824	$4,204	4.90%
$150k-250k	66	$13,510,000	$204,697	$4,182	5.14%
$75k-100k	40	$8,590,000	$214,750	$4,270	4.87%
$250k+	35	$9,035,000	$258,143	$3,946	4.96%
$50k-75k	21	$3,345,000	$159,286	$4,447	4.94%
$50k or less	11	$1,305,000	$118,636	$4,421	4.97%

First Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $150k-250k, with 66 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	61	$12,445,000	$204,016	$4,074	5.00%
30-36%	51	$10,975,000	$215,196	$4,275	4.97%
<20%	34	$6,780,000	$199,412	$3,748	4.83%
49%	13	$2,955,000	$227,308	$4,466	5.03%
43%	12	$2,620,000	$218,333	$5,563	5.20%
45%	12	$2,330,000	$194,167	$3,897	4.72%
50-60%	8	$1,810,000	$226,250	$4,343	4.88%
46%	8	$1,700,000	$212,500	$4,216	4.80%
44%	8	$1,350,000	$168,750	$3,367	5.08%
40%	7	$1,575,000	$225,000	$4,893	4.71%
36%	7	$1,365,000	$195,000	$3,815	5.16%
42%	6	$1,070,000	$178,333	$4,258	5.46%
38%	6	$1,440,000	$240,000	$4,563	4.94%
48%	6	$1,490,000	$248,333	$5,734	5.15%
47%	5	$1,335,000	$267,000	$5,089	4.70%
37%	5	$875,000	$175,000	$3,550	5.13%
41%	4	$790,000	$197,500	$4,455	4.47%
39%	2	$470,000	$235,000	$5,000	5.31%
>60%	1	$35,000	$35,000	$326	6.25%

First Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 51 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	199	$42,115,000	$211,633	$4,051	4.95%
Asian	37	$8,815,000	$238,243	$4,895	4.85%
Not provided	17	$1,635,000	$96,176	$5,887	5.49%
Black	4	$730,000	$182,500	$3,955	4.94%
Native Hawaiian or Islander	1	$325,000	$325,000	$4,975	4.88%

Approval Rates

Total approvals of all applications
98.38%

First Financial Credit Union 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
86.05%

First Financial Credit Union has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	258	$53,620,000	$207,829

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	258	$53,620,000	$207,829

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	33	$5,665,000	$171,667	$3,642	5.31%
40-60%	29	$7,605,000	$262,241	$3,690	4.45%
60-80%	74	$20,390,000	$275,541	$4,586	4.56%
80-100%	58	$15,560,000	$268,276	$4,873	4.67%
Under 20%	64	$4,400,000	$68,750	$888	5.79%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
First Technology Federal Credit Union	Other type of mortgage	Trouble during payment process	1	50.0%
First Technology Federal Credit Union	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	50.0%