First Federal Savings Bank Mortgage Rates, Fees & Info
Ottawa, ILLEI: 5493003617RJR4JUYT66
Tax ID: 36-1077600
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Federal Savings Bank is a smaller bank specializing in Home Purchase loans. First Federal Savings Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Chicago, Ottawa, Dixon, Pontiac, and Salt Lake City among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)First Federal Savings Bank 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.
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Originations
255Origination Dollar Volume (All Markets)
$47,875,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 152 | $31,410,000 | $206,645 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 81 | $12,645,000 | $156,111 | $0 | 0.00% |
| Dixon, IL (FHA|USDA|VA) | 7 | $825,000 | $117,857 | $0 | 0.00% |
| Pontiac, IL (FHA|USDA|VA) | 5 | $565,000 | $113,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $525,000 | $525,000 | $0 | 0.00% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $0 | 0.00% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Sterling, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Federal Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 247 | $46,465,000 | $188,117 | $0 | 0.00% |
| FHA | 7 | $1,255,000 | $179,286 | $0 | 0.00% |
| VA | 1 | $155,000 | $155,000 | $0 | 0.00% |
For 2024, First Federal Savings Bank's most frequently originated type of loan was Conventional, with 247 originations. Their 2nd most popular type was FHA, with 7 originations.
Loan Reason
For 2024, First Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 155 originations. The 2nd most popular reason was Other, with 49 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 255 | $47,875,000 | $187,745 | $0 | 0.00% |
For 2024, First Federal Savings Bank's most frequently cited loan duration was Other, with 255 originations.
Loan Sizing
2024 saw First Federal Savings Bank place emphasis on $100,000 or less loans with 100 originations, totaling $5,330,000 in origination value.
Applicant Income
First Federal Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $50k-75k, with 55 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 255 | $47,875,000 | $187,745 | $0 | 0.00% |
First Federal Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 255 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.94%
First Federal Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.35%
First Federal Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 255 | $47,875,000 | $187,745 |