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

43055, OH

LEI: 5493001MUHR5XU30WE58

Tax ID: 31-4265148

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Cleveland, and Urbana 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% 4/28/24
    30 Year Conventional Refi 6.80% 4/28/24
    30 Year Cash-out Refi 6.93% 4/28/24
    15 Year Conventional Purchase 6.52% 4/28/24
    15 Year Conventional Refi 6.03% 4/28/24
    15 Year Cash-out Refi 6.03% 4/28/24
    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

    334

    Origination Dollar Volume (All Markets)

    $57,280,000

    Employee count

    59

    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) 318 $54,600,000 $171,698 $2,915 4.72%
    Mount Vernon, OH (FHA|USDA|VA) 9 $1,625,000 $180,556 $2,305 4.56%
    Zanesville, OH (FHA|USDA|VA) 4 $390,000 $97,500 $2,580 4.80%
    Outside of Metro Areas 1 $355,000 $355,000 $7,490 5.25%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.50%
    Urbana, OH (FHA|USDA|VA) 1 $125,000 $125,000 $2,504 5.00%
    First Federal Savings And Loan Association's top markets include Columbus, Mount Vernon, Zanesville, Cleveland, and Urbana 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.

    Mechanics Bank
    Similarity Rank: 48
    Columbus Metro Federal Credit Union
    Similarity Rank: 224
    TrueCore Federal Credit Union
    Similarity Rank: 360
    Victory Community Bank
    Similarity Rank: 420
    First Federal Savings and Loan Association
    Similarity Rank: 420
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 728
    North Valley Bank
    Similarity Rank: 768
    CME Federal Credit Union
    Similarity Rank: 820
    BMI Federal Credit Union
    Similarity Rank: 870
    THE VINTON COUNTY NATIONAL BANK
    Similarity Rank: 935

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 334 $57,280,000 $171,497 $2,909 4.72%

    For 2018, First Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 252 $44,360,000 $176,032 $3,020 4.69%
    Cash Out Refi 38 $6,450,000 $169,737 $2,748 4.88%
    Refi 34 $5,620,000 $165,294 $2,562 4.68%
    Home Improvement 8 $720,000 $90,000 $2,126 5.19%
    Other 2 $130,000 $65,000 $1,455 4.38%

    For 2018, First Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 252 originations. The 2nd most popular reason was Cash Out Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 197 $35,095,000 $178,147 $2,956 4.63%
    15 Year 87 $13,495,000 $155,115 $2,708 4.81%
    20 Year 26 $4,840,000 $186,154 $2,935 4.64%
    10 Year 9 $975,000 $108,333 $1,945 5.03%
    1 Year 9 $2,385,000 $265,000 $3,622 5.19%
    Other 5 $485,000 $97,000 $1,454 5.68%
    5 Year 1 $5,000 $5,000 $686 5.75%

    For 2018, First Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 197 originations. The 2nd most popular length was 15 Year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 186 $29,520,000 $158,710
    $1k-2k 31 $4,445,000 $143,387
    $2k-3k 20 $4,930,000 $246,500
    $4k-5k 7 $2,905,000 $415,000
    $3k-4k 5 $1,435,000 $287,000
    $5k+ 2 $1,130,000 $565,000

    First Federal Savings And Loan Association's average total fees were $2,956, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 186 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 236 $38,450,000 $162,924
    5-6% 63 $10,035,000 $159,286
    3-4% 30 $8,400,000 $280,000
    6-7% 5 $395,000 $79,000

    During 2018, First Federal Savings And Loan Association's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 236 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 117 $17,115,000 $146,282 $2,729 4.75%
    $100,000 or less 111 $7,145,000 $64,369 $2,231 4.80%
    $200k-400k 88 $23,520,000 $267,273 $3,356 4.62%
    $400k-600k 15 $6,865,000 $457,667 $4,546 4.59%
    $600k-1MM 2 $1,390,000 $695,000 $9,129 4.38%
    $1MM+ 1 $1,245,000 $1,245,000 $0 4.95%

    2018 saw First Federal Savings And Loan Association place emphasis on $100k-200k loans with 117 originations, totaling $17,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 78 $8,120,000 $104,103 $2,485 4.67%
    $50k-75k 61 $7,575,000 $124,180 $2,551 4.81%
    $100k-150k 51 $11,915,000 $233,627 $3,264 4.68%
    $150k-250k 44 $10,430,000 $237,045 $3,688 4.59%
    $75k-100k 35 $5,545,000 $158,429 $3,047 4.69%
    $250k+ 16 $4,660,000 $291,250 $3,998 4.50%

    First Federal Savings And Loan Association lent most frequently to those with incomes in the $50k or less range, with 78 originations. The second most popular income band? $50k-75k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 64 $10,050,000 $157,031 $2,966 4.63%
    30-36% 51 $9,975,000 $195,588 $3,015 4.57%
    <20% 31 $5,095,000 $164,355 $2,473 4.66%
    37% 18 $2,420,000 $134,444 $2,901 4.83%
    39% 16 $3,420,000 $213,750 $3,486 4.80%
    40% 15 $2,705,000 $180,333 $2,793 4.56%
    38% 12 $1,930,000 $160,833 $2,960 4.45%
    41% 11 $1,405,000 $127,727 $2,586 4.77%
    42% 9 $1,495,000 $166,111 $2,870 5.02%
    36% 8 $1,370,000 $171,250 $3,483 4.99%
    43% 3 $1,145,000 $381,667 $3,402 4.58%
    44% 1 $345,000 $345,000 $2,269 4.50%
    46% 1 $445,000 $445,000 $3,724 3.88%
    50-60% 1 $135,000 $135,000 $3,059 4.25%

    First Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 295 $51,585,000 $174,864 $2,936 4.69%
    Not applicable 27 $3,825,000 $141,667 $1,936 4.95%
    Black 6 $1,050,000 $175,000 $2,346 4.71%
    Not provided 4 $600,000 $150,000 $2,224 5.02%
    Asian 2 $220,000 $110,000 $0 5.23%

    Approval Rates

    Total approvals of all applications
    93.79%

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

    Pick Rate

    Approvals leading to origination
    84.13%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 334 $57,280,000 $171,497

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $3,600,000 $360,000
    Single Family (1-4 Units):Manufactured 8 $1,130,000 $141,250
    Single Family (1-4 Units):Site-Built 316 $52,550,000 $166,297

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,260,000 $90,000 $2,003 4.95%
    40-60% 40 $6,220,000 $155,500 $3,041 4.73%
    60-80% 146 $27,350,000 $187,329 $3,031 4.68%
    80-100% 126 $21,640,000 $171,746 $2,855 4.72%
    Over 100% 1 $155,000 $155,000 $6,303 4.00%
    Under 20% 5 $95,000 $19,000 $1,354 5.53%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    First Technology Federal Credit Union Other type of mortgage Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Federal Savings and Loan Association 126 North Prospect Street Granville, OH 43023 Full Service B&M $27,962
    First Federal Savings and Loan Association 1475 North 21st Street Newark, OH 43055 Full Service B&M $21,836
    First Federal Savings and Loan Association 182 West Broad Street Pataskala, OH 43062 Full Service B&M $19,618
    First Federal Savings and Loan Association 2 North Second St Newark, OH 43055 Full Service B&M $84,173
    First Federal Savings and Loan Association 900 Hebron Road Heath, OH 43055 Full Service B&M $19,509

    For 2018, First Federal Savings And Loan Association had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,576
    Net interest income $6,179
    Total noninterest income $1,085
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $149
    Trading account gains and fees $0
    Additional Noninterest Income $936
    Pre-tax net operating income $694
    Securities gains (or losses, -) $0
    Income before extraordinary items $549
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $549
    Minority interest net income $0
    Net income $549
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $549

    First Federal Savings And Loan Association's gross interest income from loans was $8,576,000.
    First Federal Savings And Loan Association's net interest income from loans was $6,179,000.
    First Federal Savings And Loan Association's fee based income from loans was $149,000.
    First Federal Savings And Loan Association's net income from loans was $549,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,397
    Provision for credit losses $16
    Total noninterest expense $6,554
    Salaries and employee benefits $3,497
    Premises and equipment expense $893
    Additional noninterest expense $2,164
    Applicable income taxes $145
    Net charge-offs $32
    Cash dividends $0

    First Federal Savings And Loan Association's interest expense for loans was $2,397,000.
    First Federal Savings And Loan Association's payroll and benefits expense were $3,497,000.
    First Federal Savings And Loan Association's property, plant and equipment expenses $893,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $179,358
    Deposits held in domestic offices $179,358
    Deposits by Individuals, partnerships, and corporations $176,263
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,095
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $22,330
    Demand deposits $9,797
    Nontransaction accounts $157,028
    Money market deposit accounts (MMDAs) $56,817
    Other savings deposits (excluding MMDAs) $2,349
    Total time deposits $97,863
    Total time and savings deposits $169,561
    Noninterest-bearing deposits $12,114
    Interest-bearing deposits $167,244
    Retail deposits $162,887
    IRAs and Keogh plan accounts $24,296
    Brokered deposits $1
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $221,417
    Cash & Balances due from depository institutions $11,036
    Interest-bearing balances $9,287
    Total securities $27,393
    Federal funds sold & reverse repurchase $0
    Net loans and leases $169,961
    Loan and leases loss allowance $811
    Trading account assets $0
    Bank premises and fixed assets $3,612
    Other real estate owned $0
    Goodwill and other intangibles $526
    All other assets $8,889

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $221,417
    Total Liabilities $187,112
    Total deposits $179,358
    Interest-bearing deposits $167,244
    Deposits held in domestic offices $179,358
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,700
    Subordinated debt $0
    All other liabilities $1,054

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $169,961
    Loan and leases loss allowance $811
    Total loans and leases (domestic) $170,772
    All real estate loans $170,125
    Real estate loans in domestic offices $170,125
    Construction and development loans $10,809
    Residential 1-4 family construction $6,648
    Other construction, all land development and other land $4,161
    Loans secured by nonfarm nonresidential properties $22,398
    Nonfarm nonresidential secured by owner-occupied properties $10,818
    Commercial real estate & other non-farm, non-residential $11,580
    Multifamily residential real estate $7,392
    1-4 family residential loans $129,526
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $647
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $647
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,399
    Non 1-4 family restructured loans & leases $417
    Total loans and leases (foreign) $0

    First Federal Savings and Loan Association had $169,961,000 of loans outstanding in 2018. $170,125,000 of loans were in real estate loans. $10,809,000 of loans were in development loans. $7,392,000 of loans were in multifamily mortgage loans. $129,526,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 116 $12,505 $107,802
    Nonfarm, nonresidential loans - <$100k 52 $2,074 $39,885
    Nonfarm, nonresidential loans - $100-250k 42 $4,597 $109,452
    Nonfarm, nonresidential loans - $250k-1MM 22 $5,834 $265,182