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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 markets by origination volume include: Chicago, Houston, Peoria, and Carbondale among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Financial Credit Union 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 Financial Credit Union is typically an average 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
    Home Equity Line of Credit (HELOC) 6.27% 11/22/24
    30 Year Conventional Purchase 6.67% 11/22/24
    30 Year Conventional Refi 6.52% 11/22/24
    30 Year Cash-out Refi 6.86% 11/22/24
    15 Year Conventional Purchase 5.80% 11/22/24
    15 Year Conventional Refi 5.65% 11/22/24
    15 Year Cash-out Refi 5.65% 11/22/24
    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






    Your Estimates

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

    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

    281

    Origination Dollar Volume (All Markets)

    $90,465,000

    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) 277 $89,075,000 $321,570 $8,005 5.40%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $855,000 $855,000 $29,725 4.38%
    Outside of Metro Areas 1 $205,000 $205,000 $3,225 6.50%
    PEORIA, IL (FHA|USDA|VA) 1 $195,000 $195,000 $6,569 5.25%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $135,000 $135,000 $4,921 5.50%
    First Financial Credit Union's top markets include Chicago, Houston, Peoria, and Carbondale among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Wisconsin (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.

    First Savings Bank of Hegewisch
    Similarity Rank: 64
    Liberty Bank for Savings
    Similarity Rank: 116
    FINANCIAL PLUS
    Similarity Rank: 198
    DuPage Credit Union
    Similarity Rank: 579
    EDUCATORS CREDIT UNION
    Similarity Rank: 850
    Community State Bank
    Similarity Rank: 930
    Bank of Pontiac
    Similarity Rank: 1050
    LAKE MORTGAGE COMPANY INC
    Similarity Rank: 1120
    Illinois Community Credit Unio
    Similarity Rank: 1170
    PARTNERSHIP FINANCIAL
    Similarity Rank: 1505

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 219 $84,205,000 $384,498 $8,062 5.31%
    HELOC 62 $6,260,000 $100,968 n/a 5.75%

    For 2022, First Financial Credit Union's most frequently originated type of loan was Conventional, with 219 originations. Their 2nd most popular type was HELOC, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 189 $71,795,000 $379,868 $8,569 5.36%
    Home Improvement 46 $4,490,000 $97,609 $0 5.61%
    Cash Out Refi 28 $10,040,000 $358,571 $5,058 5.11%
    Other 10 $960,000 $96,000 $0 6.43%
    Refi 8 $3,180,000 $397,500 $5,897 4.95%

    For 2022, First Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 189 originations. The 2nd most popular reason was Home Improvement, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 197 $78,375,000 $397,843 $8,284 5.40%
    15 Year 81 $11,725,000 $144,753 $6,033 5.42%
    10 Year 1 $145,000 $145,000 $6,944 5.88%
    20 Year 1 $165,000 $165,000 $4,373 3.88%
    Other 1 $55,000 $55,000 $0 5.75%

    For 2022, First Financial Credit Union's most frequently cited loan duration was 30 Year, with 197 originations. The 2nd most popular length was 15 Year, with 81 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 85 $46,095,000 $542,294
    $1k-2k 83 $28,165,000 $339,337
    $3k-4k 25 $4,045,000 $161,800
    $4k-5k 19 $4,785,000 $251,842
    $2k-3k 6 $1,060,000 $176,667
    $<1k 1 $55,000 $55,000

    First Financial Credit Union's average total fees were $8,284, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 85 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 110 $38,600,000 $350,909
    4-5% 63 $18,655,000 $296,111
    6-7% 58 $15,720,000 $271,034
    3-4% 32 $14,300,000 $446,875
    7-8% 7 $835,000 $119,286
    Over 8% 6 $400,000 $66,667
    <2.5% 3 $1,515,000 $505,000
    2.5-3% 2 $440,000 $220,000

    During 2022, First Financial Credit Union's average interest rate for loans was 5.40%, while their most frequently originated rate bucket for loans was 5-6%, with 110 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 81 $22,175,000 $273,765 $6,630 5.39%
    $100k-200k 74 $10,530,000 $142,297 $6,415 5.67%
    $400k-600k 53 $26,765,000 $505,000 $8,564 4.93%
    $600k-1MM 42 $29,240,000 $696,190 $11,919 5.15%
    $100,000 or less 31 $1,755,000 $56,613 $5,113 5.98%

    2022 saw First Financial Credit Union place emphasis on $200k-400k loans with 81 originations, totaling $22,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 74 $24,290,000 $328,243 $7,410 5.29%
    $150k-250k 68 $29,190,000 $429,265 $8,949 5.03%
    $50k-75k 43 $6,455,000 $150,116 $6,613 5.71%
    $250k+ 42 $17,880,000 $425,714 $10,628 5.60%
    $75k-100k 42 $10,850,000 $258,333 $7,317 5.57%
    $50k or less 12 $1,800,000 $150,000 $5,948 5.83%

    First Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $150k-250k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 58 $16,090,000 $277,414 $8,085 5.26%
    50-60% 40 $15,740,000 $393,500 $8,162 5.07%
    30-36% 37 $10,395,000 $280,946 $7,502 5.55%
    <20% 25 $6,785,000 $271,400 $7,411 5.11%
    43% 16 $4,200,000 $262,500 $8,552 5.95%
    49% 12 $4,690,000 $390,833 $7,165 5.47%
    44% 12 $4,280,000 $356,667 $7,443 5.61%
    40% 10 $4,490,000 $449,000 $8,904 5.29%
    42% 10 $2,470,000 $247,000 $8,084 6.25%
    41% 9 $4,915,000 $546,111 $10,623 4.69%
    37% 8 $2,900,000 $362,500 $8,207 5.84%
    47% 8 $3,000,000 $375,000 $7,760 5.36%
    46% 7 $2,105,000 $300,714 $9,055 6.04%
    36% 7 $1,105,000 $157,857 $7,126 5.41%
    48% 7 $2,495,000 $356,429 $10,416 6.04%
    38% 6 $1,450,000 $241,667 $7,198 5.69%
    45% 5 $2,195,000 $439,000 $7,270 5.33%
    39% 4 $1,160,000 $290,000 $8,807 4.81%

    First Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 50-60%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 203 $64,185,000 $316,182 $7,965 5.35%
    Asian 32 $11,420,000 $356,875 $8,429 5.32%
    Black 28 $8,250,000 $294,643 $7,937 5.71%
    Not provided 12 $4,350,000 $362,500 $8,432 6.02%
    American Indian 2 $810,000 $405,000 $9,335 4.81%
    Native Hawaiian or Islander 2 $660,000 $330,000 $6,447 5.25%
    Chinese 1 $565,000 $565,000 $11,425 5.75%
    Other Asian 1 $225,000 $225,000 $7,925 4.25%

    Approval Rates

    Total approvals of all applications
    99.35%

    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
    96.80%

    First Financial Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $55,000 $55,000
    3487.5 1 $345,000 $345,000
    NA 279 $90,065,000 $322,814

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    281 $90,465,000 $321,940

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $3,060,000 $139,091 $2,523 5.55%
    40-60% 12 $3,630,000 $302,500 $6,683 5.29%
    60-80% 56 $18,890,000 $337,321 $6,765 5.37%
    80-100% 150 $61,210,000 $408,067 $8,704 5.30%
    Under 20% 41 $3,675,000 $89,634 $0 5.80%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%