The First Financial Federal Credit Union Mortgage Rates, Fees & Info
West Covina, CALEI: 54930074FI0I2Q6G5S43
Tax ID: 95-2653867
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
692Origination Dollar Volume (All Markets)
$225,710,000Awards
THE FIRST FINANCIAL Federal Credit Union - 2021
THE FIRST FINANCIAL Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications87.63%
The First Financial Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.21%
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% |
