First Federal Savings And Loan Association Mortgage Rates, Fees & Info

43055, OH

LEI: 5493001MUHR5XU30WE58

Tax ID: 31-4265148

5 stars - out of 5 stars, based on 17 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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 Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase loans. First Federal Savings And Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Mount Vernon, Zanesville, Bellefontaine, and Coshocton among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Federal Savings And Loan Association 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 Federal Savings And Loan Association 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
    30 Year Conventional Purchase 6.83% 5/27/23
    30 Year Conventional Refi 6.80% 5/27/23
    30 Year Cash-out Refi 6.93% 5/27/23
    15 Year Conventional Purchase 6.52% 5/27/23
    15 Year Conventional Refi 6.03% 5/27/23
    15 Year Cash-out Refi 6.03% 5/27/23
    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 Federal Savings And Loan Association Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Federal Savings And Loan Association. 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

    305

    Origination Dollar Volume (All Markets)

    $71,915,000

    Awards

    First Federal Savings and Loan Association 30 Year Conventional Loans silver First Federal Savings and Loan Association 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    First Federal Savings And Loan Association's average 30 year fixed mortgage rate was 4.67%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.09%.

    Relative Fees (Closing Costs)

    First Federal Savings And Loan Association's average total fees/closing costs for a 30 year fixed rate mortgage were $2,653.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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) 287 $67,995,000 $236,916 $3,150 4.68%
    Mount Vernon, OH (FHA|USDA|VA) 7 $2,145,000 $306,429 $4,762 5.23%
    Zanesville, OH (FHA|USDA|VA) 7 $1,145,000 $163,571 $3,373 5.27%
    Bellefontaine, OH (FHA|USDA|VA) 1 $385,000 $385,000 $3,911 4.50%
    Coshocton, OH (FHA|USDA|VA) 2 $140,000 $70,000 $2,661 6.31%
    SPRINGFIELD, OH (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.25%
    First Federal Savings And Loan Association's top markets include Columbus, Mount Vernon, Zanesville, Bellefontaine, and Coshocton among others.

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

    • Similar Lenders

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

    First Federal Savings and Loan Association
    Similarity Rank: 534
    EDUCATION FIRST CREDIT UNION, INC.
    Similarity Rank: 756
    Liberty National Bank
    Similarity Rank: 828
    TrueCore Federal Credit Union
    Similarity Rank: 895
    LCNB National Bank
    Similarity Rank: 960
    Cf Bank
    Similarity Rank: 1221
    The Old Fort Banking Company
    Similarity Rank: 1512
    The Community Bank
    Similarity Rank: 1519
    1st National Bank
    Similarity Rank: 1740
    BMI Federal Credit Union
    Similarity Rank: 1775

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 305 $71,915,000 $235,787 $3,201 4.72%

    For 2022, First Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 305 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 188 $45,220,000 $240,532 $3,364 5.01%
    Cash Out Refi 65 $14,235,000 $219,000 $3,123 4.19%
    Refi 38 $10,230,000 $269,211 $2,664 4.38%
    Home Improvement 9 $925,000 $102,778 $2,095 4.15%
    Other 5 $1,305,000 $261,000 $2,662 4.17%

    For 2022, First Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 188 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 165 $38,095,000 $230,879 $2,653 4.67%
    15 Year 53 $10,645,000 $200,849 $2,686 4.57%
    30+ year 30 $10,190,000 $339,667 $6,359 5.09%
    20 Year 28 $5,850,000 $208,929 $2,943 4.47%
    Other 12 $2,250,000 $187,500 $4,142 5.19%
    1 Year 10 $2,850,000 $285,000 $5,151 4.75%
    10 Year 7 $2,035,000 $290,714 $2,019 5.53%

    For 2022, First Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 165 originations. The 2nd most popular length was 15 Year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 131 $30,835,000 $235,382
    $1k-2k 58 $10,000,000 $172,414
    $2k-3k 19 $4,005,000 $210,789
    $3k-4k 13 $3,455,000 $265,769
    $5k+ 13 $6,385,000 $491,154
    $4k-5k 11 $4,355,000 $395,909

    First Federal Savings And Loan Association's average total fees were $2,653, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 131 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 101 $26,515,000 $262,525
    5-6% 73 $17,425,000 $238,699
    3-4% 72 $15,650,000 $217,361
    6-7% 25 $5,335,000 $213,400
    2.5-3% 16 $3,680,000 $230,000
    7-8% 9 $1,055,000 $117,222
    <2.5% 6 $1,220,000 $203,333
    Over 8% 3 $1,035,000 $345,000

    During 2022, First Federal Savings And Loan Association's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 4-5%, with 101 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 105 $15,345,000 $146,143 $2,599 4.66%
    $200k-400k 102 $28,660,000 $280,980 $3,529 4.64%
    $100,000 or less 54 $4,110,000 $76,111 $2,235 4.90%
    $400k-600k 35 $16,595,000 $474,143 $4,480 4.82%
    $600k-1MM 8 $5,400,000 $675,000 $6,263 4.85%
    $1MM+ 1 $1,805,000 $1,805,000 $0 4.25%

    2022 saw First Federal Savings And Loan Association place emphasis on $100k-200k loans with 105 originations, totaling $15,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 64 $16,180,000 $252,813 $3,426 4.92%
    $50k-75k 51 $8,495,000 $166,569 $2,996 4.55%
    $50k or less 48 $6,350,000 $132,292 $2,500 4.68%
    $75k-100k 45 $9,065,000 $201,444 $3,154 4.73%
    $150k-250k 43 $14,355,000 $333,837 $3,982 4.69%
    $250k+ 15 $5,615,000 $374,333 $2,862 4.30%

    First Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 64 originations. The second most popular income band? $50k-75k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 58 $13,210,000 $227,759 $3,236 4.68%
    20-30% 56 $10,810,000 $193,036 $2,705 4.31%
    <20% 22 $4,960,000 $225,455 $3,090 4.27%
    38% 15 $3,235,000 $215,667 $2,863 4.95%
    42% 13 $3,545,000 $272,692 $4,608 5.18%
    40% 13 $2,875,000 $221,154 $3,356 5.51%
    41% 12 $3,820,000 $318,333 $3,292 4.96%
    39% 7 $2,385,000 $340,714 $2,472 5.14%
    36% 7 $1,675,000 $239,286 $2,653 4.42%
    43% 7 $1,205,000 $172,143 $2,484 4.52%
    37% 7 $1,385,000 $197,857 $2,697 4.80%
    45% 6 $1,550,000 $258,333 $3,403 4.10%
    46% 4 $930,000 $232,500 $3,756 4.59%
    49% 2 $830,000 $415,000 $9,433 4.88%
    50-60% 2 $470,000 $235,000 $4,884 4.31%
    48% 1 $115,000 $115,000 $3,129 3.75%
    47% 1 $405,000 $405,000 $930 5.95%
    44% 1 $145,000 $145,000 $1,928 3.25%
    >60% 1 $1,805,000 $1,805,000 $0 4.25%

    First Federal Savings And Loan Association lent most frequently to those with DTI ratios of 30-36%, with 58 originations. The next most common DTI ratio? 20-30%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 243 $54,985,000 $226,276 $3,156 4.70%
    Not applicable 35 $10,215,000 $291,857 $4,316 4.75%
    Not provided 19 $4,905,000 $258,158 $3,590 4.46%
    Black 5 $1,195,000 $239,000 $3,511 5.44%
    Asian 1 $355,000 $355,000 $2,691 5.38%
    American Indian 1 $205,000 $205,000 $4,318 5.25%
    Native Hawaiian or Islander 1 $55,000 $55,000 $2,125 6.75%

    Approval Rates

    Total approvals of all applications
    92.60%

    First Federal Savings And Loan Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.26%

    First Federal Savings And Loan Association has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 305 $71,915,000 $235,787

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    305 $71,915,000 $235,787

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,165,000 $103,095 $2,483 4.36%
    40-60% 60 $14,460,000 $241,000 $3,189 4.74%
    60-80% 146 $36,080,000 $247,123 $3,266 4.73%
    80-100% 74 $18,900,000 $255,405 $3,357 4.81%
    Under 20% 4 $310,000 $77,500 $2,287 3.89%

    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%