First Federal Bank Mortgage Rates, Fees & Info

Dunn, NC

LEI: 5493004W7AEPOP0B0249

Tax ID: 56-0680378

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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)

    • Review & Overview

    First Federal Bank is a smaller bank specializing in Home Purchase loans. First Federal Bank has a high proportion of conventional loans. Their top two markets are Fayetteville and Raleigh .

    First Federal Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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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    Originations

    30

    Origination Dollar Volume (All Markets)

    $13,580,000

    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
    FAYETTEVILLE, NC (FHA|USDA|VA) 12 $5,620,000 $468,333 $0 0.00%
    Outside of Metro Areas 11 $4,465,000 $405,909 $0 0.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 7 $3,495,000 $499,286 $0 0.00%
    First Federal Bank's top markets include Fayetteville and Raleigh among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against First Federal Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Bank
    Similarity Rank: 276
    South Pacific Financial Corporation
    Similarity Rank: 1258
    MATTAMY HOME FUNDING, LLC
    Similarity Rank: 1776
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 2244
    United Nations Federal Credit Union
    Similarity Rank: 2600
    VELOCIO MORTGAGE L.L.C.
    Similarity Rank: 3454
    JAMS-01, INC.
    Similarity Rank: 3498
    HOMESTEAD FUNDING CORP.
    Similarity Rank: 3686
    KBHS HOME LOANS, LLC
    Similarity Rank: 3990
    United Bank
    Similarity Rank: 4000

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $13,580,000 $452,667 $0 0.00%

    For 2024, First Federal Bank's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $13,515,000 $466,034 $0 0.00%
    Home Improvement 1 $65,000 $65,000 $0 0.00%

    For 2024, First Federal Bank's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Home Improvement, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 30 $13,580,000 $452,667 $0 0.00%

    For 2024, First Federal Bank's most frequently cited loan duration was Other, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 12 $3,880,000 $323,333 $0 0.00%
    $400k-600k 10 $4,660,000 $466,000 $0 0.00%
    $600k-1MM 4 $2,770,000 $692,500 $0 0.00%
    $100,000 or less 2 $160,000 $80,000 $0 0.00%
    $1MM+ 2 $2,110,000 $1,055,000 $0 0.00%

    2024 saw First Federal Bank place emphasis on $200k-400k loans with 12 originations, totaling $3,880,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $4,635,000 $356,538 $0 0.00%
    $150k-250k 11 $5,355,000 $486,818 $0 0.00%
    $250k+ 3 $2,245,000 $748,333 $0 0.00%
    $75k-100k 1 $225,000 $225,000 $0 0.00%

    First Federal Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 30 $13,580,000 $452,667 $0 0.00%

    First Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $9,610,000 $436,818 $0 0.00%
    Not provided 5 $2,255,000 $451,000 $0 0.00%
    Not applicable 2 $1,120,000 $560,000 $0 0.00%
    Black 1 $595,000 $595,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    First Federal Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    93.33%

    First Federal Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 30 $13,580,000 $452,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    30 $13,580,000 $452,667