The First Financial Federal Credit Union Mortgage Rates, Fees & Info

West Covina, CA

LEI: 54930074FI0I2Q6G5S43

Tax ID: 95-2653867

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The First Financial Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Improvement loans. The First Financial Federal Credit Union has a high proportion of conventional loans. Their top markets include Los Angeles, Riverside, San Diego, Oxnard, and San Francisco among others. The First Financial Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. The First Financial Federal Credit Union is typically a low fee lendor.


Originations

692

Origination Dollar Volume (All Markets)

$225,710,000

Awards

THE FIRST FINANCIAL Federal Credit Union 30 Year Conventional Loans gold THE FIRST FINANCIAL Federal Credit Union 30 Year Conventional Loans silver THE FIRST FINANCIAL Federal Credit Union 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

The First Financial Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.14%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.01%.

Relative Fees

The First Financial Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $425.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 436 $147,990,000 $339,427 $370 3.16%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 181 $51,505,000 $284,558 $290 3.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 33 $11,535,000 $349,545 $176 3.17%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 25 $9,465,000 $378,600 $578 3.17%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,310,000 $655,000 $1,005 2.69%
STOCKTON, CA (FHA|USDA|VA) 1 $545,000 $545,000 $0 2.88%
CHICO, CA (FHA|USDA|VA) 2 $540,000 $270,000 $1,971 2.75%
VALLEJO, CA (FHA|USDA|VA) 1 $345,000 $345,000 $0 3.25%
Crescent City, CA (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.00%
Outside of Metro Areas 2 $300,000 $150,000 $25 2.94%
FRESNO, CA (FHA|USDA|VA) 1 $295,000 $295,000 $4,139 3.13%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $285,000 $285,000 $0 3.13%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $255,000 $255,000 $0 2.75%
NAPA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $1,368 2.88%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $245,000 $245,000 $0 2.63%
VISALIA, CA (FHA|USDA|VA) 1 $215,000 $215,000 $0 3.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 2.63%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $145,000 $145,000 $0 2.75%

The First Financial Federal Credit Union's top markets include Los Angeles, Riverside, San Diego, Oxnard, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 692 $225,710,000 $326,171 $355 3.14%

For the 2021 period, The First Financial Federal Credit Union's most frequently originated loan type of loans were Conventional, with 692 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 310 $101,290,000 $326,742 $354 2.95%
Cash Out Refi 189 $63,475,000 $335,847 $439 3.17%
Home Improvement 168 $49,830,000 $296,607 $282 3.48%
Home Purchase 25 $11,115,000 $444,600 $224 3.11%

For the 2021, The First Financial Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 310 originations. The 2nd most popular reason of loans were Cash Out Refi, with 189 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 399 $160,095,000 $401,241 $425 3.14%
15 Year 155 $35,775,000 $230,806 $188 2.96%
20 Year 84 $22,870,000 $272,262 $508 3.51%
10 Year 53 $6,285,000 $118,585 $78 3.16%
Other 1 $685,000 $685,000 $0 2.50%

For the 2021, The First Financial Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 399 originations. The 2nd most popular length of loans were 15 Year, with 155 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 643 $208,565,000 $324,362
$3k-4k 16 $5,850,000 $365,625
$1k-2k 15 $3,485,000 $232,333
$5k+ 11 $5,175,000 $470,455
$2k-3k 7 $2,635,000 $376,429

$425 of loans were The First Financial Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 643 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 303 $102,325,000 $337,706
3-4% 230 $94,150,000 $409,348
<2.5% 93 $21,125,000 $227,151
4-5% 48 $7,040,000 $146,667
5-6% 18 $1,070,000 $59,444

During 2021, The First Financial Federal Credit Union's average interest rate of loans were 3.14%, while their most frequently originated rate bucket of loans were 2.5-3%, with 303 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 287 $85,525,000 $297,997 $334 3.02%
$400k-600k 151 $72,695,000 $481,424 $758 3.11%
$100k-200k 127 $18,745,000 $147,598 $221 3.00%
$100,000 or less 67 $4,155,000 $62,015 $28 4.02%
$600k-1MM 55 $38,895,000 $707,182 $90 3.17%
$1MM+ 5 $5,695,000 $1,139,000 $75 2.95%

2021 saw The First Financial Federal Credit Union place emphasis on $200k-400k loans with 287 originations, totaling $85,525,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 208 $71,230,000 $342,452 $406 3.09%
$75k-100k 149 $39,285,000 $263,658 $318 3.20%
$150k-250k 145 $59,155,000 $407,966 $332 3.21%
$50k-75k 103 $24,495,000 $237,816 $359 3.11%
$250k+ 45 $24,505,000 $544,556 $593 3.18%
$50k or less 38 $6,150,000 $161,842 $51 3.01%

The First Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 208 originations. The second most popular income band? $75k-100k, with 149 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 191 $58,195,000 $304,686 $348 3.02%
30-36% 150 $50,270,000 $335,133 $374 3.12%
<20% 64 $16,730,000 $261,406 $418 2.72%
41% 31 $9,755,000 $314,677 $583 3.41%
44% 27 $8,795,000 $325,741 $483 3.51%
42% 25 $9,005,000 $360,200 $39 3.29%
38% 24 $7,430,000 $309,583 $163 3.32%
43% 23 $8,255,000 $358,913 $1,006 3.33%
40% 23 $7,755,000 $337,174 $20 3.26%
39% 22 $7,990,000 $363,182 $542 3.16%
46% 21 $8,415,000 $400,714 $418 3.49%
36% 20 $6,620,000 $331,000 $31 3.13%
37% 20 $7,670,000 $383,500 $19 3.31%
47% 14 $3,570,000 $255,000 $469 3.57%
45% 13 $4,835,000 $371,923 $0 2.97%
49% 13 $4,865,000 $374,231 $551 3.31%
50-60% 6 $3,010,000 $501,667 $42 3.65%
48% 5 $2,545,000 $509,000 $20 3.50%

The First Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 191 originations. The next most common DTI ratio? 30-36%, with 150 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 444 $135,890,000 $306,059 $297 3.14%
Black 108 $37,640,000 $348,519 $505 3.17%
Not provided 89 $30,465,000 $342,303 $497 3.16%
Asian 41 $18,035,000 $439,878 $351 3.10%
Native Hawaiian 5 $1,905,000 $381,000 $0 3.20%
American Indian 3 $775,000 $258,333 $0 3.42%
Other Pacific Islander 1 $565,000 $565,000 $0 3.38%
Other Asian 1 $435,000 $435,000 $0 3.00%

Approval Rates

Total approvals of all applications
87.63%

The First Financial Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
81.21%

The First Financial Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 692 $225,710,000 $326,171

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
692 $225,710,000 $326,171

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 162 $40,590,000 $250,556 $390 2.84%
40-60% 206 $74,550,000 $361,893 $350 2.96%
60-80% 188 $86,560,000 $460,426 $537 3.21%
80-100% 24 $12,660,000 $527,500 $132 3.22%
Under 20% 112 $11,350,000 $101,339 $61 3.79%