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

43055, OH

LEI: 5493001MUHR5XU30WE58

Tax ID: 31-4265148

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  • SimulatedRates™
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    • 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 and Refi 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, Mansfield, and Coshocton among others. We have data for 5 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.83% 4/18/24
    30 Year Conventional Refi 6.80% 4/18/24
    30 Year Cash-out Refi 6.93% 4/18/24
    15 Year Conventional Purchase 6.52% 4/18/24
    15 Year Conventional Refi 6.03% 4/18/24
    15 Year Cash-out Refi 6.03% 4/18/24
    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

    342

    Origination Dollar Volume (All Markets)

    $62,870,000

    Employee count

    58

    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

    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) 324 $59,970,000 $185,093 $2,614 4.48%
    Mount Vernon, OH (FHA|USDA|VA) 11 $2,335,000 $212,273 $3,135 4.50%
    Zanesville, OH (FHA|USDA|VA) 5 $385,000 $77,000 $2,464 5.05%
    MANSFIELD, OH (FHA|USDA|VA) 1 $95,000 $95,000 $2,089 4.38%
    Coshocton, OH (FHA|USDA|VA) 1 $85,000 $85,000 $2,006 4.50%
    First Federal Savings And Loan Association's top markets include Columbus, Mount Vernon, Zanesville, Mansfield, 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.

    Mechanics Bank
    Similarity Rank: 60
    Columbus Metro Federal Credit Union
    Similarity Rank: 392
    1st National Bank
    Similarity Rank: 450
    HOPEWELL Federal Credit Union
    Similarity Rank: 510
    First Federal Savings and Loan Association
    Similarity Rank: 575
    EDUCATION FIRST CREDIT UNION, INC.
    Similarity Rank: 630
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 715
    TrueCore Federal Credit Union
    Similarity Rank: 980
    TELHIO
    Similarity Rank: 1054
    CME Federal Credit Union
    Similarity Rank: 1155

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 342 $62,870,000 $183,830 $2,626 4.48%

    For 2019, First Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 342 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 217 $41,225,000 $189,977 $2,578 4.60%
    Refi 68 $12,920,000 $190,000 $2,527 4.16%
    Cash Out Refi 47 $7,465,000 $158,830 $2,862 4.33%
    Home Improvement 7 $755,000 $107,857 $3,570 5.01%
    Other 3 $505,000 $168,333 $2,537 4.75%

    For 2019, First Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 217 originations. The 2nd most popular reason was Refi, with 68 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 169 $30,995,000 $183,402 $2,352 4.37%
    15 Year 90 $14,120,000 $156,889 $2,353 4.50%
    20 Year 31 $4,275,000 $137,903 $2,329 4.60%
    30+ year 21 $6,335,000 $301,667 $5,424 4.69%
    Other 20 $5,980,000 $299,000 $3,644 4.73%
    10 Year 6 $480,000 $80,000 $1,988 4.60%
    1 Year 4 $670,000 $167,500 $2,968 5.61%
    5 Year 1 $15,000 $15,000 $1,736 5.13%

    For 2019, First Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 169 originations. The 2nd most popular length was 15 Year, with 90 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 193 $33,695,000 $174,585
    $1k-2k 38 $6,570,000 $172,895
    $2k-3k 15 $3,125,000 $208,333
    $4k-5k 7 $2,475,000 $353,571
    $3k-4k 3 $685,000 $228,333
    $5k+ 3 $2,365,000 $788,333

    First Federal Savings And Loan Association's average total fees were $2,352, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 193 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 162 $30,210,000 $186,481
    3-4% 112 $20,260,000 $180,893
    5-6% 67 $12,305,000 $183,657
    6-7% 1 $95,000 $95,000

    During 2019, First Federal Savings And Loan Association's average interest rate for loans was 4.37%, while their most frequently originated rate bucket for loans was 4-5%, with 162 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 132 $18,880,000 $143,030 $2,497 4.44%
    $100,000 or less 108 $7,650,000 $70,833 $2,133 4.67%
    $200k-400k 80 $22,420,000 $280,250 $2,724 4.32%
    $400k-600k 15 $6,855,000 $457,000 $4,094 4.31%
    $1MM+ 4 $5,070,000 $1,267,500 $8,672 5.06%
    $600k-1MM 3 $1,995,000 $665,000 $11,337 4.73%

    2019 saw First Federal Savings And Loan Association place emphasis on $100k-200k loans with 132 originations, totaling $18,880,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 77 $9,275,000 $120,455 $2,351 4.51%
    $50k-75k 57 $7,605,000 $133,421 $2,412 4.39%
    $100k-150k 56 $11,610,000 $207,321 $2,597 4.47%
    $150k-250k 48 $12,910,000 $268,958 $3,056 4.17%
    $75k-100k 46 $6,730,000 $146,304 $2,296 4.46%
    $250k+ 23 $8,115,000 $352,826 $4,456 4.50%

    First Federal Savings And Loan Association lent most frequently to those with incomes in the $50k or less range, with 77 originations. The second most popular income band? $50k-75k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 78 $13,980,000 $179,231 $2,545 4.20%
    30-36% 47 $9,695,000 $206,277 $2,458 4.28%
    <20% 37 $6,995,000 $189,054 $2,691 3.92%
    42% 15 $2,465,000 $164,333 $2,526 4.56%
    37% 12 $1,560,000 $130,000 $2,148 4.55%
    38% 12 $2,040,000 $170,000 $2,540 4.35%
    41% 11 $2,245,000 $204,091 $2,668 5.05%
    36% 11 $2,065,000 $187,727 $2,778 4.35%
    39% 11 $1,725,000 $156,818 $3,062 4.47%
    40% 7 $935,000 $133,571 $2,404 4.23%
    43% 3 $565,000 $188,333 $2,466 4.00%
    44% 1 $95,000 $95,000 $2,260 4.25%
    45% 1 $355,000 $355,000 $2,719 3.38%
    48% 1 $225,000 $225,000 $2,349 3.25%
    50-60% 1 $95,000 $95,000 $0 4.95%
    >60% 1 $615,000 $615,000 $0 4.75%

    First Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 303 $55,105,000 $181,865 $2,641 4.43%
    Not applicable 29 $5,995,000 $206,724 $0 5.04%
    Black 5 $825,000 $165,000 $1,896 4.52%
    Not provided 3 $685,000 $228,333 $2,393 4.17%
    Asian 2 $260,000 $130,000 $0 5.45%

    Approval Rates

    Total approvals of all applications
    94.58%

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

    Pick Rate

    Approvals leading to origination
    80.41%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 342 $62,870,000 $183,830

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $3,190,000 $531,667
    Single Family (1-4 Units):Manufactured 9 $865,000 $96,111
    Single Family (1-4 Units):Site-Built 327 $58,815,000 $179,862

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,285,000 $75,588 $2,353 4.60%
    40-60% 49 $8,205,000 $167,449 $2,711 4.30%
    60-80% 153 $30,815,000 $201,405 $2,812 4.54%
    80-100% 119 $21,495,000 $180,630 $2,452 4.45%
    Over 100% 3 $1,015,000 $338,333 $0 5.40%
    Under 20% 1 $55,000 $55,000 $2,241 3.38%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 4 57.1%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Home equity loan or line of credit (HELOC) Trouble during payment process 1 14.3%

    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 $29,769
    First Federal Savings and Loan Association 1475 North 21st Street Newark, OH 43055 Full Service B&M $23,500
    First Federal Savings and Loan Association 182 West Broad Street Pataskala, OH 43062 Full Service B&M $16,615
    First Federal Savings and Loan Association 2 North Second St Newark, OH 43055 Full Service B&M $84,836
    First Federal Savings and Loan Association 900 Hebron Road Heath, OH 43055 Full Service B&M $22,221

    For 2019, First Federal Savings And Loan Association had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,307
    Net interest income $6,404
    Total noninterest income $1,369
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $153
    Trading account gains and fees $0
    Additional Noninterest Income $1,216
    Pre-tax net operating income $785
    Securities gains (or losses, -) $0
    Income before extraordinary items $641
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $641
    Minority interest net income $0
    Net income $641
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $641

    First Federal Savings And Loan Association's gross interest income from loans was $9,307,000.
    First Federal Savings And Loan Association's net interest income from loans was $6,404,000.
    First Federal Savings And Loan Association's fee based income from loans was $153,000.
    First Federal Savings And Loan Association's net income from loans was $641,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,903
    Provision for credit losses $50
    Total noninterest expense $6,938
    Salaries and employee benefits $3,361
    Premises and equipment expense $957
    Additional noninterest expense $2,620
    Applicable income taxes $144
    Net charge-offs $-5
    Cash dividends $0

    First Federal Savings And Loan Association's interest expense for loans was $2,903,000.
    First Federal Savings And Loan Association's payroll and benefits expense were $3,361,000.
    First Federal Savings And Loan Association's property, plant and equipment expenses $957,000.

    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 1.0%
    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 $178,334
    Deposits held in domestic offices $178,334
    Deposits by Individuals, partnerships, and corporations $175,239
    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 $24,681
    Demand deposits $7,965
    Nontransaction accounts $153,653
    Money market deposit accounts (MMDAs) $35,983
    Other savings deposits (excluding MMDAs) $18,445
    Total time deposits $99,225
    Total time and savings deposits $170,369
    Noninterest-bearing deposits $10,381
    Interest-bearing deposits $167,953
    Retail deposits $159,094
    IRAs and Keogh plan accounts $23,038
    Brokered deposits $1
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $221,986
    Cash & Balances due from depository institutions $12,156
    Interest-bearing balances $10,053
    Total securities $22,621
    Federal funds sold & reverse repurchase $1,570
    Net loans and leases $172,736
    Loan and leases loss allowance $866
    Trading account assets $0
    Bank premises and fixed assets $3,427
    Other real estate owned $0
    Goodwill and other intangibles $612
    All other assets $8,864

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $221,986
    Total Liabilities $186,772
    Total deposits $178,334
    Interest-bearing deposits $167,953
    Deposits held in domestic offices $178,334
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,900
    Subordinated debt $0
    All other liabilities $1,538

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $172,736
    Loan and leases loss allowance $866
    Total loans and leases (domestic) $173,602
    All real estate loans $173,015
    Real estate loans in domestic offices $173,015
    Construction and development loans $13,477
    Residential 1-4 family construction $6,875
    Other construction, all land development and other land $6,602
    Loans secured by nonfarm nonresidential properties $21,327
    Nonfarm nonresidential secured by owner-occupied properties $11,161
    Commercial real estate & other non-farm, non-residential $10,166
    Multifamily residential real estate $8,781
    1-4 family residential loans $129,430
    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 $587
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $587
    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 $2,972
    Non 1-4 family restructured loans & leases $275
    Total loans and leases (foreign) $0

    First Federal Savings and Loan Association had $172,736,000 of loans outstanding in 2019. $173,015,000 of loans were in real estate loans. $13,477,000 of loans were in development loans. $8,781,000 of loans were in multifamily mortgage loans. $129,430,000 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 115 $13,860 $120,522
    Nonfarm, nonresidential loans - <$100k 39 $1,292 $33,128
    Nonfarm, nonresidential loans - $100-250k 49 $4,916 $100,327
    Nonfarm, nonresidential loans - $250k-1MM 27 $7,652 $283,407