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

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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 Refi, Home Purchase, and Cash Out 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, Coshocton, and Toledo among others. We have data for 10 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

    833

    Origination Dollar Volume (All Markets)

    $173,665,000

    Employee count

    59 Show all (6) 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) 789 $165,235,000 $209,423 $2,629 2.99%
    Mount Vernon, OH (FHA|USDA|VA) 19 $4,265,000 $224,474 $2,721 3.05%
    Zanesville, OH (FHA|USDA|VA) 13 $1,745,000 $134,231 $2,579 3.00%
    Outside of Metro Areas 2 $820,000 $410,000 $2,916 3.13%
    Coshocton, OH (FHA|USDA|VA) 3 $345,000 $115,000 $2,725 3.54%
    TOLEDO, OH (FHA|USDA|VA) 2 $320,000 $160,000 $2,467 2.56%
    AKRON, OH (FHA|USDA|VA) 1 $305,000 $305,000 $2,662 2.13%
    MANSFIELD, OH (FHA|USDA|VA) 2 $280,000 $140,000 $1,914 2.13%
    Urbana, OH (FHA|USDA|VA) 1 $175,000 $175,000 $2,297 3.00%
    Cambridge, OH (FHA|USDA|VA) 1 $175,000 $175,000 $3,126 2.50%
    First Federal Savings And Loan Association's top markets include Columbus, Mount Vernon, Zanesville, Coshocton, and Toledo 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.

    Commodore Bank
    Similarity Rank: 153
    Mechanics Bank
    Similarity Rank: 451
    First Federal Savings and Loan Association
    Similarity Rank: 670
    Kingston National Bank
    Similarity Rank: 708
    Columbus Metro Federal Credit Union
    Similarity Rank: 864
    EDUCATION FIRST CREDIT UNION, INC.
    Similarity Rank: 1230
    TrueCore Federal Credit Union
    Similarity Rank: 1488
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1584
    The Richwood Banking Company
    Similarity Rank: 1869
    The Community Bank
    Similarity Rank: 1950

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 833 $173,665,000 $208,481 $2,629 2.99%

    For 2020, First Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 833 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 373 $74,445,000 $199,584 $2,446 2.76%
    Home Purchase 230 $50,440,000 $219,304 $2,778 3.47%
    Cash Out Refi 219 $47,665,000 $217,648 $2,814 2.84%
    Home Improvement 7 $645,000 $92,143 $2,350 4.60%
    Other 4 $470,000 $117,500 $2,498 2.75%

    For 2020, First Federal Savings And Loan Association's most frequently cited loan purpose was Refi, with 373 originations. The 2nd most popular reason was Home Purchase, with 230 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 404 $88,770,000 $219,728 $2,559 3.06%
    15 Year 229 $41,585,000 $181,594 $2,441 2.61%
    20 Year 73 $14,275,000 $195,548 $2,461 3.07%
    Other 68 $14,360,000 $211,176 $2,559 3.08%
    30+ year 30 $10,130,000 $337,667 $6,216 4.10%
    10 Year 24 $3,660,000 $152,500 $2,282 3.15%
    1 Year 5 $885,000 $177,000 $3,001 4.70%

    For 2020, First Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 404 originations. The 2nd most popular length was 15 Year, with 229 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 646 $133,190,000 $206,176
    $1k-2k 78 $15,590,000 $199,872
    $2k-3k 23 $5,595,000 $243,261
    $3k-4k 20 $6,010,000 $300,500
    $4k-5k 11 $4,275,000 $388,636
    $5k+ 4 $1,790,000 $447,500

    First Federal Savings And Loan Association's average total fees were $2,559, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 646 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 301 $65,525,000 $217,691
    <2.5% 282 $57,660,000 $204,468
    3-4% 166 $36,230,000 $218,253
    4-5% 70 $12,050,000 $172,143
    5-6% 14 $2,200,000 $157,143

    During 2020, First Federal Savings And Loan Association's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 301 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 347 $51,105,000 $147,277 $2,389 2.93%
    $200k-400k 323 $87,615,000 $271,254 $2,832 2.97%
    $100,000 or less 105 $7,785,000 $74,143 $2,190 3.21%
    $400k-600k 55 $25,115,000 $456,636 $3,579 3.03%
    $600k-1MM 3 $2,045,000 $681,667 $4,599 3.76%

    2020 saw First Federal Savings And Loan Association place emphasis on $100k-200k loans with 347 originations, totaling $51,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 196 $44,550,000 $227,296 $2,719 2.92%
    $50k-75k 157 $24,115,000 $153,599 $2,369 2.92%
    $150k-250k 150 $42,770,000 $285,133 $2,801 2.82%
    $75k-100k 135 $23,845,000 $176,630 $2,713 3.02%
    $50k or less 105 $12,945,000 $123,286 $2,339 3.04%
    $250k+ 58 $20,610,000 $355,345 $2,923 2.76%

    First Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 196 originations. The second most popular income band? $50k-75k, with 157 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 245 $54,245,000 $221,408 $2,573 2.80%
    30-36% 163 $35,925,000 $220,399 $2,847 3.02%
    <20% 162 $32,800,000 $202,469 $2,449 2.69%
    37% 34 $7,430,000 $218,529 $2,967 2.98%
    40% 30 $6,100,000 $203,333 $2,567 2.93%
    41% 28 $5,310,000 $189,643 $2,522 3.12%
    42% 26 $5,410,000 $208,077 $2,835 3.08%
    39% 22 $4,110,000 $186,818 $2,490 3.00%
    36% 22 $4,520,000 $205,455 $2,548 3.07%
    38% 21 $4,025,000 $191,667 $2,541 3.07%
    43% 7 $1,725,000 $246,429 $2,558 2.96%
    44% 5 $1,095,000 $219,000 $2,283 2.85%
    45% 3 $485,000 $161,667 $2,211 2.96%
    50-60% 3 $695,000 $231,667 $3,273 3.25%
    49% 2 $350,000 $175,000 $2,656 2.38%
    47% 1 $135,000 $135,000 $2,991 2.13%
    >60% 1 $85,000 $85,000 $0 4.75%
    46% 1 $165,000 $165,000 $2,547 2.63%

    First Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 245 originations. The next most common DTI ratio? 30-36%, with 163 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 767 $162,955,000 $212,458 $2,635 2.94%
    Not applicable 28 $3,980,000 $142,143 $0 4.74%
    Not provided 14 $2,920,000 $208,571 $2,620 2.86%
    Asian 18 $2,910,000 $161,667 $2,536 2.48%
    Black 5 $815,000 $163,000 $2,378 2.58%
    American Indian 1 $85,000 $85,000 $1,867 3.95%

    Approval Rates

    Total approvals of all applications
    93.49%

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

    Pick Rate

    Approvals leading to origination
    84.27%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 833 $173,665,000 $208,481

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $695,000 $231,667
    Single Family (1-4 Units):Manufactured 17 $1,915,000 $112,647
    Single Family (1-4 Units):Site-Built 813 $171,055,000 $210,400

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $4,880,000 $135,556 $2,370 2.74%
    40-60% 180 $32,580,000 $181,000 $2,395 2.67%
    60-80% 401 $89,115,000 $222,232 $2,671 3.00%
    80-100% 210 $46,720,000 $222,476 $2,824 3.30%
    Under 20% 6 $370,000 $61,667 $1,974 2.65%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    First Technology Federal Credit Union Home equity loan or line of credit (HELOC) Closing on a mortgage 1 25.0%
    First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 1 25.0%
    First Technology Federal Credit Union Conventional home mortgage Incorrect information on your report 1 25.0%

    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 $28,867
    First Federal Savings and Loan Association 1475 North 21st Street Newark, OH 43055 Full Service B&M $24,090
    First Federal Savings and Loan Association 182 West Broad Street Pataskala, OH 43062 Full Service B&M $18,352
    First Federal Savings and Loan Association 2 North Second St Newark, OH 43055 Full Service B&M $91,603
    First Federal Savings and Loan Association 900 Hebron Road Heath, OH 43055 Full Service B&M $20,797

    For 2020, First Federal Savings And Loan Association had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,765
    Net interest income $6,583
    Total noninterest income $2,765
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $127
    Trading account gains and fees $0
    Additional Noninterest Income $2,638
    Pre-tax net operating income $1,807
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,461
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,461
    Minority interest net income $0
    Net income $1,461
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,461

    First Federal Savings And Loan Association's gross interest income from loans was $8,765,000.
    First Federal Savings And Loan Association's net interest income from loans was $6,583,000.
    First Federal Savings And Loan Association's fee based income from loans was $127,000.
    First Federal Savings And Loan Association's net income from loans was $1,461,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,182
    Provision for credit losses $495
    Total noninterest expense $7,046
    Salaries and employee benefits $3,711
    Premises and equipment expense $997
    Additional noninterest expense $2,338
    Applicable income taxes $346
    Net charge-offs $1
    Cash dividends $0

    First Federal Savings And Loan Association's interest expense for loans was $2,182,000.
    First Federal Savings And Loan Association's payroll and benefits expense were $3,711,000.
    First Federal Savings And Loan Association's property, plant and equipment expenses $997,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $189,947
    Deposits held in domestic offices $189,947
    Deposits by Individuals, partnerships, and corporations $186,877
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,070
    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 $32,338
    Demand deposits $12,814
    Nontransaction accounts $157,609
    Money market deposit accounts (MMDAs) $55,248
    Other savings deposits (excluding MMDAs) $21,241
    Total time deposits $81,119
    Total time and savings deposits $177,133
    Noninterest-bearing deposits $14,896
    Interest-bearing deposits $175,051
    Retail deposits $170,281
    IRAs and Keogh plan accounts $21,089
    Brokered deposits $753
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $235,052
    Cash & Balances due from depository institutions $35,425
    Interest-bearing balances $22,744
    Total securities $33,379
    Federal funds sold & reverse repurchase $0
    Net loans and leases $150,430
    Loan and leases loss allowance $1,361
    Trading account assets $0
    Bank premises and fixed assets $3,284
    Other real estate owned $0
    Goodwill and other intangibles $1,386
    All other assets $11,148

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $235,052
    Total Liabilities $198,293
    Total deposits $189,947
    Interest-bearing deposits $175,051
    Deposits held in domestic offices $189,947
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,900
    Subordinated debt $0
    All other liabilities $2,446

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $150,430
    Loan and leases loss allowance $1,361
    Total loans and leases (domestic) $151,791
    All real estate loans $151,263
    Real estate loans in domestic offices $151,263
    Construction and development loans $14,465
    Residential 1-4 family construction $9,913
    Other construction, all land development and other land $4,552
    Loans secured by nonfarm nonresidential properties $24,262
    Nonfarm nonresidential secured by owner-occupied properties $11,554
    Commercial real estate & other non-farm, non-residential $12,708
    Multifamily residential real estate $6,839
    1-4 family residential loans $105,697
    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 $528
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $528
    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 $2,862
    Non 1-4 family restructured loans & leases $256
    Total loans and leases (foreign) $0

    First Federal Savings and Loan Association had $150,430,000 of loans outstanding in 2020. $151,263,000 of loans were in real estate loans. $14,465,000 of loans were in development loans. $6,839,000 of loans were in multifamily mortgage loans. $105,697,000 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 112 $15,200 $135,714
    Nonfarm, nonresidential loans - <$100k 33 $1,056 $32,000
    Nonfarm, nonresidential loans - $100-250k 51 $5,038 $98,784
    Nonfarm, nonresidential loans - $250k-1MM 28 $9,106 $325,214