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

Review & Overview

First Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase, Refi, 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, Mansfield, and Urbana among others. We have data for 11 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%	11/17/24
30 Year Conventional Refi	6.80%	11/17/24
30 Year Cash-out Refi	6.93%	11/17/24
15 Year Conventional Purchase	6.52%	11/17/24
15 Year Conventional Refi	6.03%	11/17/24
15 Year Cash-out Refi	6.03%	11/17/24
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

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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

615

Origination Dollar Volume (All Markets)

$121,945,000

Employee count

Awards

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)	569	$114,335,000	$200,940	$2,726	3.08%
Mount Vernon, OH (FHA\|USDA\|VA)	20	$3,050,000	$152,500	$3,076	3.25%
Zanesville, OH (FHA\|USDA\|VA)	13	$1,805,000	$138,846	$3,057	3.53%
Outside of Metro Areas	2	$530,000	$265,000	$2,762	2.56%
MANSFIELD, OH (FHA\|USDA\|VA)	1	$395,000	$395,000	$3,443	2.50%
Urbana, OH (FHA\|USDA\|VA)	1	$355,000	$355,000	$3,586	2.88%
Coshocton, OH (FHA\|USDA\|VA)	3	$355,000	$118,333	$2,963	2.96%
CLEVELAND-ELYRIA, OH (FHA\|USDA\|VA)	2	$340,000	$170,000	$2,602	2.66%
DAYTON-KETTERING, OH (FHA\|USDA\|VA)	1	$285,000	$285,000	$2,200	2.63%
TOLEDO, OH (FHA\|USDA\|VA)	1	$285,000	$285,000	$2,950	2.63%
Cambridge, OH (FHA\|USDA\|VA)	2	$210,000	$105,000	$2,779	2.63%

First Federal Savings And Loan Association's top markets include Columbus, Mount Vernon, Zanesville, Mansfield, 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.

EDUCATION FIRST CREDIT UNION, INC.
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	615	$121,945,000	$198,285	$2,746	3.08%

For 2021, First Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 615 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	229	$49,255,000	$215,087	$2,895	3.42%
Refi	188	$37,780,000	$200,957	$2,558	2.78%
Cash Out Refi	180	$31,760,000	$176,444	$2,806	2.94%
Home Improvement	9	$925,000	$102,778	$2,473	4.01%
Other	9	$2,225,000	$247,222	$2,438	2.81%

For 2021, First Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 229 originations. The 2nd most popular reason was Refi, with 188 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	322	$70,800,000	$219,876	$2,582	3.06%
15 Year	166	$27,540,000	$165,904	$2,536	2.78%
20 Year	40	$6,810,000	$170,250	$2,584	3.16%
10 Year	29	$3,925,000	$135,345	$2,428	3.21%
30+ year	29	$8,695,000	$299,828	$5,969	4.14%
Other	25	$3,535,000	$141,400	$2,954	3.69%
1 Year	4	$640,000	$160,000	$2,751	4.44%

For 2021, First Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 322 originations. The 2nd most popular length was 15 Year, with 166 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	413	$82,815,000	$200,521
$1k-2k	84	$16,240,000	$193,333
$2k-3k	24	$5,370,000	$223,750
$4k-5k	9	$3,335,000	$370,556
$3k-4k	8	$2,430,000	$303,750
$5k+	5	$2,335,000	$467,000

First Federal Savings And Loan Association's average total fees were $2,582, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 413 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	210	$46,530,000	$221,571
3-4%	192	$38,860,000	$202,396
<2.5%	144	$25,360,000	$176,111
4-5%	66	$10,480,000	$158,788
5-6%	3	$715,000	$238,333

During 2021, 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 210 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	266	$38,700,000	$145,489	$2,553	3.04%
$200k-400k	181	$49,715,000	$274,669	$2,903	3.02%
$100,000 or less	114	$8,060,000	$70,702	$2,323	3.24%
$400k-600k	53	$24,605,000	$464,245	$3,823	3.20%
$600k-1MM	1	$865,000	$865,000	$2,356	2.95%

2021 saw First Federal Savings And Loan Association place emphasis on $100k-200k loans with 266 originations, totaling $38,700,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	130	$29,680,000	$228,308	$3,025	3.00%
$50k-75k	128	$20,380,000	$159,219	$2,608	3.01%
$50k or less	119	$13,205,000	$110,966	$2,430	3.13%
$150k-250k	89	$25,815,000	$290,056	$3,077	2.93%
$75k-100k	78	$14,090,000	$180,641	$2,668	3.13%
$250k+	35	$12,525,000	$357,857	$2,689	2.83%

First Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 130 originations. The second most popular income band? $50k-75k, with 128 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	170	$34,840,000	$204,941	$2,683	2.87%
30-36%	104	$20,650,000	$198,558	$2,767	3.04%
<20%	89	$17,915,000	$201,292	$2,571	2.75%
37%	23	$5,115,000	$222,391	$3,168	3.28%
40%	20	$4,880,000	$244,000	$2,651	2.97%
36%	18	$4,430,000	$246,111	$3,446	3.32%
38%	18	$3,070,000	$170,556	$2,656	2.85%
42%	16	$3,010,000	$188,125	$2,703	3.18%
39%	16	$3,460,000	$216,250	$2,866	3.18%
43%	14	$3,400,000	$242,857	$2,373	3.15%
41%	13	$2,415,000	$185,769	$2,344	2.94%
44%	12	$2,540,000	$211,667	$2,960	2.96%
48%	7	$1,385,000	$197,857	$2,759	3.50%
46%	6	$1,460,000	$243,333	$3,447	3.20%
45%	5	$795,000	$159,000	$2,221	3.32%
49%	4	$940,000	$235,000	$3,747	3.00%
47%	3	$485,000	$161,667	$2,344	2.88%
50-60%	2	$490,000	$245,000	$8,331	4.00%
>60%	2	$540,000	$270,000	$1,618	3.10%

First Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 170 originations. The next most common DTI ratio? 30-36%, with 104 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	544	$109,440,000	$201,176	$2,751	3.03%
Not applicable	32	$5,520,000	$172,500	$1,541	4.00%
Not provided	24	$4,350,000	$181,250	$2,695	3.18%
Black	8	$1,460,000	$182,500	$2,897	2.95%
Asian	6	$970,000	$161,667	$2,466	2.73%
American Indian	1	$205,000	$205,000	$3,528	4.88%

Approval Rates

Total approvals of all applications
91.67%

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

Pick Rate

Approvals leading to origination
84.72%

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

Points and Fees

Points	Originations	Total Value	Average Loan
NA	615	$121,945,000	$198,285

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	615	$121,945,000	$198,285

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	58	$7,110,000	$122,586	$2,365	2.66%
40-60%	116	$19,130,000	$164,914	$2,600	2.92%
60-80%	283	$58,195,000	$205,636	$2,866	3.19%
80-100%	152	$37,010,000	$243,487	$2,840	3.16%
Under 20%	6	$500,000	$83,333	$2,089	3.13%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
First Technology Federal Credit Union	Conventional home mortgage	Incorrect information on your report	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Closing on a mortgage	1	14.3%
First Technology Federal Credit Union	Other type of mortgage	Trouble during payment process	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	FHA mortgage	Struggling to pay mortgage	1	14.3%
First Technology Federal Credit Union	Conventional home mortgage	Trouble during payment process	2	28.6%

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	$31,347
First Federal Savings and Loan Association	1475 North 21st Street Newark, OH 43055	Full Service B&M	$26,668
First Federal Savings and Loan Association	182 West Broad Street Pataskala, OH 43062	Full Service B&M	$22,302
First Federal Savings and Loan Association	2 North Second St Newark, OH 43055	Full Service B&M	$95,083
First Federal Savings and Loan Association	900 Hebron Road Heath, OH 43055	Full Service B&M	$22,648

For 2021, First Federal Savings And Loan Association had 5 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$7,488
Net interest income	$6,129
Total noninterest income	$2,477
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$117
Trading account gains and fees	$0
Additional Noninterest Income	$2,360
Pre-tax net operating income	$1,495
Securities gains (or losses, -)	$0
Income before extraordinary items	$1,218
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$1,218
Minority interest net income	$0
Net income	$1,218
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$1,218

First Federal Savings And Loan Association's gross interest income from loans was $7,488,000.
First Federal Savings And Loan Association's net interest income from loans was $6,129,000.
First Federal Savings And Loan Association's fee based income from loans was $117,000.
First Federal Savings And Loan Association's net income from loans was $1,218,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,359
Provision for credit losses	$-104
Total noninterest expense	$7,215
Salaries and employee benefits	$3,811
Premises and equipment expense	$892
Additional noninterest expense	$2,512
Applicable income taxes	$277
Net charge-offs	$-107
Cash dividends	$0

First Federal Savings And Loan Association's interest expense for loans was $1,359,000.
First Federal Savings And Loan Association's payroll and benefits expense were $3,811,000.
First Federal Savings And Loan Association's property, plant and equipment expenses $892,000.

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	$209,712
Deposits held in domestic offices	$209,712
Deposits by Individuals, partnerships, and corporations	$206,136
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$3,576
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	$39,850
Demand deposits	$17,422
Nontransaction accounts	$169,862
Money market deposit accounts (MMDAs)	$85,244
Other savings deposits (excluding MMDAs)	$22,761
Total time deposits	$61,856
Total time and savings deposits	$192,290
Noninterest-bearing deposits	$19,293
Interest-bearing deposits	$190,419
Retail deposits	$193,678
IRAs and Keogh plan accounts	$19,493
Brokered deposits	$1
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$253,213
Cash & Balances due from depository institutions	$33,697
Interest-bearing balances	$23,796
Total securities	$60,722
Federal funds sold & reverse repurchase	$0
Net loans and leases	$142,462
Loan and leases loss allowance	$1,364
Trading account assets	$0
Bank premises and fixed assets	$3,331
Other real estate owned	$0
Goodwill and other intangibles	$1,820
All other assets	$11,181

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$253,213
Total Liabilities	$215,692
Total deposits	$209,712
Interest-bearing deposits	$190,419
Deposits held in domestic offices	$209,712
% insured (estimated)	$84
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$4,000
Subordinated debt	$0
All other liabilities	$1,980

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$142,462
Loan and leases loss allowance	$1,364
Total loans and leases (domestic)	$143,826
All real estate loans	$143,285
Real estate loans in domestic offices	$143,285
Construction and development loans	$13,720
Residential 1-4 family construction	$8,233
Other construction, all land development and other land	$5,487
Loans secured by nonfarm nonresidential properties	$23,859
Nonfarm nonresidential secured by owner-occupied properties	$10,010
Commercial real estate & other non-farm, non-residential	$13,849
Multifamily residential real estate	$5,516
1-4 family residential loans	$100,190
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	$541
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$0
Other loans to individuals	$541
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	$2,680
Non 1-4 family restructured loans & leases	$239
Total loans and leases (foreign)	$0

First Federal Savings and Loan Association had $142,462,000 of loans outstanding in 2021. $143,285,000 of loans were in real estate loans. $13,720,000 of loans were in development loans. $5,516,000 of loans were in multifamily mortgage loans. $100,190,000 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	107	$13,775	$128,738
Nonfarm, nonresidential loans - <$100k	30	$966	$32,200
Nonfarm, nonresidential loans - $100-250k	52	$5,577	$107,250
Nonfarm, nonresidential loans - $250k-1MM	25	$7,232	$289,280