First Federal Mortgage Rates, Fees & Info

McMinnville, OR

LEI: 254900P1I9VHKMF8R991

Tax ID: 93-0166953

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Federal is a smaller mortgage company specializing in Home Purchase and Refi loans. First Federal has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Newport, and Salem among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Federal has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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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    Originations

    72

    Origination Dollar Volume (All Markets)

    $21,130,000

    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
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 64 $15,200,000 $237,500 $0 0.00%
    Newport, OR (FHA|USDA|VA) 3 $3,285,000 $1,095,000 $0 0.00%
    SALEM, OR (FHA|USDA|VA) 5 $2,645,000 $529,000 $0 0.00%
    First Federal's top markets include Portland, Newport, and Salem among others.

    Their top states include:
  • Oregon (FHA|USDA|VA)

    • Similar Lenders

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

    INROADS
    Similarity Rank: 238
    Yakima Federal Savings and Loan Association
    Similarity Rank: 295
    South Pacific Financial Corporation
    Similarity Rank: 627
    Clackamas Federal Credit Union
    Similarity Rank: 776
    COLUMBIA COMMUNITY CREDIT UNION
    Similarity Rank: 988
    FIBRE FEDERAL CREDIT UNION
    Similarity Rank: 1281
    ADVANTIS
    Similarity Rank: 1288
    Oregon State Credit Union
    Similarity Rank: 1834
    Rivermark Community Credit Union
    Similarity Rank: 1914
    First Republic Bank
    Similarity Rank: 1957

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 72 $21,130,000 $293,472 $0 0.00%

    For 2023, First Federal's most frequently originated type of loan was Conventional, with 72 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 25 $10,755,000 $430,200 $0 0.00%
    Home Improvement 21 $2,155,000 $102,619 $0 0.00%
    Refi 15 $6,905,000 $460,333 $0 0.00%
    Other 11 $1,315,000 $119,545 $0 0.00%

    For 2023, First Federal's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Home Improvement, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 72 $21,130,000 $293,472 $0 0.00%

    For 2023, First Federal's most frequently cited loan duration was Other, with 72 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,335,000 $53,400 $0 0.00%
    $400k-600k 15 $7,245,000 $483,000 $0 0.00%
    $100k-200k 14 $1,940,000 $138,571 $0 0.00%
    $200k-400k 10 $3,150,000 $315,000 $0 0.00%
    $600k-1MM 7 $5,205,000 $743,571 $0 0.00%
    $1MM+ 1 $2,255,000 $2,255,000 $0 0.00%

    2023 saw First Federal place emphasis on $100,000 or less loans with 25 originations, totaling $1,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $6,135,000 $266,739 $0 0.00%
    $150k-250k 14 $4,210,000 $300,714 $0 0.00%
    $250k+ 8 $4,030,000 $503,750 $0 0.00%
    $75k-100k 8 $1,230,000 $153,750 $0 0.00%
    $50k-75k 7 $735,000 $105,000 $0 0.00%
    $50k or less 4 $310,000 $77,500 $0 0.00%

    First Federal lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $150k-250k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 72 $21,130,000 $293,472 $0 0.00%

    First Federal lent most frequently to those with DTI ratios of Exempt%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $14,680,000 $253,103 $0 0.00%
    Not applicable 4 $4,150,000 $1,037,500 $0 0.00%
    Not provided 7 $1,275,000 $182,143 $0 0.00%
    Asian 1 $455,000 $455,000 $0 0.00%
    Filipino 1 $455,000 $455,000 $0 0.00%
    American Indian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.29%

    First Federal has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.28%

    First Federal has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 72 $21,130,000 $293,472

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    72 $21,130,000 $293,472