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

43055, OH

LEI: 5493001MUHR5XU30WE58

Tax ID: 31-4265148

5 stars - Updated: 7/14/24 - out of 5 stars, based on 14 reviews

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

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Mortgage Data

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, Zanesville, Mount Vernon, Mansfield, and Coshocton among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Federal Savings And Loan Association 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. 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 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.

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% 7/14/24
30 Year Conventional Refi 6.80% 7/14/24
30 Year Cash-out Refi 6.93% 7/14/24
15 Year Conventional Purchase 6.52% 7/14/24
15 Year Conventional Refi 6.03% 7/14/24
15 Year Cash-out Refi 6.03% 7/14/24
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 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

184

Origination Dollar Volume (All Markets)

$40,570,000

Awards

First Federal Savings and Loan Association 30 Year Conventional Loans gold 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 6.78%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.3%.

Relative Fees (Closing Costs)

First Federal Savings And Loan Association's average total fees/closing costs for a 30 year fixed rate mortgage were $2,775.

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 $9,089.

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) 161 $36,265,000 $225,248 $3,029 6.98%
Zanesville, OH (FHA|USDA|VA) 13 $2,265,000 $174,231 $3,331 7.05%
Mount Vernon, OH (FHA|USDA|VA) 4 $710,000 $177,500 $2,416 6.84%
MANSFIELD, OH (FHA|USDA|VA) 1 $555,000 $555,000 $6,412 7.25%
Coshocton, OH (FHA|USDA|VA) 2 $230,000 $115,000 $3,149 7.75%
Sandusky, OH (FHA|USDA|VA) 1 $205,000 $205,000 $1,580 5.75%
Ashland, OH (FHA|USDA|VA) 1 $195,000 $195,000 $2,451 6.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $145,000 $145,000 $0 7.50%
First Federal Savings And Loan Association's top markets include Columbus, Zanesville, Mount Vernon, Mansfield, and Coshocton among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 184 $40,570,000 $220,489 $3,049 6.99%

    For 2023, First Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 184 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 116 $29,620,000 $255,345 $3,308 6.77%
    Cash Out Refi 30 $6,090,000 $203,000 $3,174 7.16%
    Refi 21 $3,315,000 $157,857 $2,524 7.25%
    Other 12 $950,000 $79,167 $1,858 8.26%
    Home Improvement 5 $595,000 $119,000 $1,380 6.85%

    For 2023, First Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 116 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 98 $23,000,000 $234,694 $2,775 6.78%
    15 Year 20 $3,140,000 $157,000 $1,305 7.19%
    20 Year 18 $3,100,000 $172,222 $3,505 7.09%
    Other 15 $5,065,000 $337,667 $4,299 7.14%
    30+ year 15 $4,825,000 $321,667 $6,021 6.67%
    10 Year 11 $715,000 $65,000 $1,529 7.98%
    1 Year 5 $675,000 $135,000 $3,398 7.60%
    5 Year 2 $50,000 $25,000 $895 8.38%

    For 2023, First Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 98 originations. The 2nd most popular length was 15 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 81 $16,635,000 $205,370
    $1k-2k 26 $3,640,000 $140,000
    $2k-3k 11 $2,235,000 $203,182
    $4k-5k 9 $3,285,000 $365,000
    $3k-4k 7 $2,875,000 $410,714
    $5k+ 4 $2,540,000 $635,000

    First Federal Savings And Loan Association's average total fees were $2,775, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 81 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 103 $25,305,000 $245,680
    7-8% 53 $10,185,000 $192,170
    Over 8% 16 $1,910,000 $119,375
    5-6% 12 $3,170,000 $264,167

    During 2023, First Federal Savings And Loan Association's average interest rate for loans was 6.78%, while their most frequently originated rate bucket for loans was 6-7%, with 103 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 69 $18,885,000 $273,696 $3,622 6.77%
    $100k-200k 58 $8,180,000 $141,034 $2,785 7.00%
    $100,000 or less 38 $2,320,000 $61,053 $1,851 7.53%
    $400k-600k 12 $5,560,000 $463,333 $3,980 6.78%
    $600k-1MM 7 $5,625,000 $803,571 $4,825 6.45%

    2023 saw First Federal Savings And Loan Association place emphasis on $200k-400k loans with 69 originations, totaling $18,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $9,450,000 $214,773 $3,359 7.07%
    $50k-75k 30 $4,760,000 $158,667 $2,427 7.30%
    $75k-100k 26 $5,010,000 $192,692 $2,938 7.06%
    $150k-250k 21 $5,425,000 $258,333 $3,148 6.75%
    $250k+ 20 $8,140,000 $407,000 $4,141 6.80%
    $50k or less 19 $1,945,000 $102,368 $2,367 6.87%

    First Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $50k-75k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 33 $5,205,000 $157,727 $2,457 7.20%
    30-36% 27 $6,995,000 $259,074 $3,480 7.07%
    36% 11 $2,915,000 $265,000 $4,250 7.05%
    <20% 11 $2,315,000 $210,455 $2,921 7.00%
    42% 10 $3,390,000 $339,000 $4,132 6.71%
    41% 9 $2,305,000 $256,111 $3,350 6.58%
    39% 9 $2,455,000 $272,778 $2,846 6.63%
    37% 8 $1,760,000 $220,000 $2,089 6.61%
    40% 6 $860,000 $143,333 $2,440 7.23%
    38% 6 $880,000 $146,667 $3,166 7.67%
    44% 3 $765,000 $255,000 $4,403 6.63%
    46% 1 $135,000 $135,000 $2,421 7.13%
    48% 1 $145,000 $145,000 $1,802 6.50%
    50-60% 1 $285,000 $285,000 $1,877 6.38%

    First Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 33 originations. The next most common DTI ratio? 30-36%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 153 $33,755,000 $220,621 $3,039 7.02%
    Not applicable 20 $4,390,000 $219,500 $4,483 6.84%
    Not provided 7 $1,335,000 $190,714 $3,113 6.89%
    Asian 1 $465,000 $465,000 $1,930 6.25%
    Black 2 $450,000 $225,000 $2,398 6.63%
    American Indian 1 $175,000 $175,000 $2,698 6.88%

    Approval Rates

    Total approvals of all applications
    89.02%

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

    Pick Rate

    Approvals leading to origination
    84.24%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 184 $40,570,000 $220,489

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    184 $40,570,000 $220,489

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $3,415,000 $162,619 $2,666 7.43%
    40-60% 36 $9,180,000 $255,000 $3,564 6.92%
    60-80% 70 $16,340,000 $233,429 $3,287 6.83%
    80-100% 45 $11,115,000 $247,000 $3,092 6.87%
    Under 20% 12 $520,000 $43,333 $1,452 7.78%