First Federal Mortgage Rates, Fees & Info
McMinnville, ORLEI: 254900P1I9VHKMF8R991
Tax ID: 93-0166953
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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, Bend, Salem, Albany, and Astoria among others. We have data for 7 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.
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Originations
65Origination Dollar Volume (All Markets)
$27,335,000Top 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) | 48 | $14,930,000 | $311,042 | $0 | 0.00% |
| BEND, OR (FHA|USDA|VA) | 1 | $5,425,000 | $5,425,000 | $0 | 0.00% |
| SALEM, OR (FHA|USDA|VA) | 10 | $4,150,000 | $415,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $1,405,000 | $468,333 | $0 | 0.00% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| Astoria, OR (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 0.00% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
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.
Similarity Rank: 10
Similarity Rank: 700
Similarity Rank: 880
Similarity Rank: 1155
Similarity Rank: 1656
Similarity Rank: 1679
Similarity Rank: 1781
Similarity Rank: 1820
Similarity Rank: 1946
Similarity Rank: 2167
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $27,335,000 | $420,538 | $0 | 0.00% |
For 2022, First Federal's most frequently originated type of loan was Conventional, with 65 originations.
Loan Reason
For 2022, First Federal's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 65 | $27,335,000 | $420,538 | $0 | 0.00% |
For 2022, First Federal's most frequently cited loan duration was Other, with 65 originations.
Loan Sizing
2022 saw First Federal place emphasis on $200k-400k loans with 23 originations, totaling $7,115,000 in origination value.
Applicant Income
First Federal lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 65 | $27,335,000 | $420,538 | $0 | 0.00% |
First Federal lent most frequently to those with DTI ratios of Exempt%, with 65 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.98%
First Federal has a below average approval rate.
Pick Rate
Approvals leading to origination52.31%
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 | 65 | $27,335,000 | $420,538 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST GUARANTY MORTGAGE CORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |