First Service Fcu Mortgage Rates, Fees & Info

Groveport, OH

LEI: 5493001KKF1KUVEDX282

Tax ID: 31-4419394

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
  • Complaints
  • 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 Service Fcu is a smaller credit union specializing in Refi and Home Purchase loans. First Service Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Jackson, and Cincinnati among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Service Fcu 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 Service Fcu 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.

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    Originations

    61

    Origination Dollar Volume (All Markets)

    $6,575,000

    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
    COLUMBUS, OH (FHA|USDA|VA) 57 $6,225,000 $109,211 $1,025 4.10%
    Jackson, OH (FHA|USDA|VA) 1 $165,000 $165,000 $2,491 4.25%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $130,000 $65,000 $1,121 4.94%
    Outside of Metro Areas 1 $55,000 $55,000 $0 4.60%
    First Service Fcu's top markets include Columbus, Jackson, and Cincinnati among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 60 $6,530,000 $108,833 $1,057 4.11%
    HELOC 1 $45,000 $45,000 n/a 6.00%

    For 2018, First Service Fcu's most frequently originated type of loan was Conventional, with 60 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 24 $2,530,000 $105,417 $1,003 4.01%
    Home Purchase 14 $2,250,000 $160,714 $2,258 4.82%
    Cash Out Refi 14 $1,130,000 $80,714 $687 3.57%
    Home Improvement 8 $600,000 $75,000 $415 4.19%
    NA 1 $65,000 $65,000 $0 5.00%

    For 2018, First Service Fcu's most frequently cited loan purpose was Refi, with 24 originations. The 2nd most popular reason was Home Purchase, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 40 $3,770,000 $94,250 $635 3.79%
    30 Year 10 $1,660,000 $166,000 $2,420 4.44%
    5 Year 5 $385,000 $77,000 $0 5.60%
    15 Year 3 $225,000 $75,000 $1,292 4.42%
    Other 2 $450,000 $225,000 $0 5.50%
    20 Year 1 $85,000 $85,000 $2,353 3.99%

    For 2018, First Service Fcu's most frequently cited loan duration was 10 Year, with 40 originations. The 2nd most popular length was 30 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 51 $5,355,000 $105,000

    First Service Fcu's average total fees were $2,420, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 51 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 36 $3,430,000 $95,278
    4-5% 17 $2,365,000 $139,118
    5-6% 6 $740,000 $123,333
    6-7% 1 $15,000 $15,000
    7-8% 1 $25,000 $25,000

    During 2018, First Service Fcu's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 3-4%, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $2,170,000 $60,278 $608 4.14%
    $100k-200k 21 $2,675,000 $127,381 $1,458 4.06%
    $200k-400k 2 $600,000 $300,000 $2,624 5.06%
    $400k-600k 1 $525,000 $525,000 $3,827 4.25%
    $600k-1MM 1 $605,000 $605,000 $2,973 3.75%

    2018 saw First Service Fcu place emphasis on $100,000 or less loans with 36 originations, totaling $2,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 14 $1,130,000 $80,714 $808 3.87%
    $100k-150k 12 $1,230,000 $102,500 $1,007 4.19%
    $50k-75k 10 $820,000 $82,000 $849 3.89%
    $50k or less 9 $555,000 $61,667 $1,052 3.78%
    $150k-250k 8 $770,000 $96,250 $1,282 4.59%
    $250k+ 2 $1,130,000 $565,000 $3,400 4.00%

    First Service Fcu lent most frequently to those with incomes in the $75k-100k range, with 14 originations. The second most popular income band? $100k-150k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $1,615,000 $107,667 $1,182 4.13%
    30-36% 15 $1,925,000 $128,333 $1,198 4.13%
    <20% 8 $590,000 $73,750 $714 3.67%
    41% 4 $220,000 $55,000 $232 4.59%
    36% 4 $560,000 $140,000 $1,140 4.28%
    38% 4 $670,000 $167,500 $991 4.25%
    43% 2 $130,000 $65,000 $348 3.38%
    42% 2 $110,000 $55,000 $0 4.75%
    40% 2 $220,000 $110,000 $2,273 4.56%
    46% 1 $55,000 $55,000 $0 5.25%
    47% 1 $85,000 $85,000 $0 3.25%
    >60% 1 $65,000 $65,000 $0 5.00%
    37% 1 $215,000 $215,000 $2,624 4.13%
    45% 1 $115,000 $115,000 $2,268 3.50%

    First Service Fcu lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $4,530,000 $102,955 $1,018 4.10%
    Not applicable 6 $940,000 $156,667 $695 5.04%
    Not provided 5 $615,000 $123,000 $1,974 4.05%
    Asian 4 $370,000 $92,500 $552 3.44%
    Black 2 $120,000 $60,000 $716 3.75%

    Approval Rates

    Total approvals of all applications
    93.26%

    First Service Fcu has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.89%

    First Service Fcu has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 61 $6,575,000 $107,787

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 61 $6,575,000 $107,787

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $730,000 $60,833 $566 3.57%
    40-60% 15 $1,095,000 $73,000 $537 3.91%
    60-80% 23 $3,655,000 $158,913 $1,539 4.30%
    80-100% 7 $1,005,000 $143,571 $2,256 4.16%
    Under 20% 4 $90,000 $22,500 $0 5.69%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST CHOICE LOAN SERVICES INC. FHA mortgage Trouble during payment process 1 33.3%
    FIRST CHOICE LOAN SERVICES INC. Other type of mortgage Trouble during payment process 1 33.3%
    FIRST CHOICE LOAN SERVICES INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%