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

West Covina, CA

LEI: 54930074FI0I2Q6G5S43

Tax ID: 95-2653867

5 stars - Updated: 2/19/24 - out of 5 stars, based on 13 reviews

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

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Mortgage Data

Review & Overview

The First Financial Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. The First Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Oxnard, and Visalia among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

The First Financial Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The First Financial Federal Credit Union 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 4.35% 2/19/24
30 Year Conventional Refi 6.08% 2/19/24
30 Year Cash-out Refi 6.84% 2/19/24
15 Year Conventional Refi 6.03% 2/19/24
15 Year Cash-out Refi 6.03% 2/19/24
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.

The First Financial Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The First Financial Federal Credit Union. 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

172

Origination Dollar Volume (All Markets)

$38,450,000

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 mortgage rate was 3.93%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.83%.

Relative Fees (Closing Costs)

The First Financial Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $159.

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

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 112 $28,440,000 $253,929 $69 4.84%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 46 $6,860,000 $149,130 $8 4.88%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 5 $1,405,000 $281,000 $0 4.28%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $555,000 $185,000 $0 5.25%
VISALIA, CA (FHA|USDA|VA) 1 $445,000 $445,000 $580 4.50%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $265,000 $265,000 $0 3.38%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.00%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $180,000 $90,000 $0 6.25%
STOCKTON, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.00%
The First Financial Federal Credit Union's top markets include Los Angeles, Riverside, San Diego, Oxnard, and Visalia among others.

Their top states include:
  • California (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 172 $38,450,000 $223,547 $50 4.88%

    For 2022, The First Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 172 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 90 $16,000,000 $177,778 $1 5.06%
    Cash Out Refi 54 $9,740,000 $180,370 $15 5.30%
    Refi 19 $7,135,000 $375,526 $27 3.18%
    Home Purchase 9 $5,575,000 $619,444 $788 4.11%

    For 2022, The First Financial Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 90 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 68 $7,070,000 $103,971 $5 5.02%
    30 Year 50 $24,420,000 $488,400 $159 3.93%
    20 Year 35 $5,845,000 $167,000 $18 5.84%
    10 Year 19 $1,115,000 $58,684 $0 5.13%

    For 2022, The First Financial Federal Credit Union's most frequently cited loan duration was 15 Year, with 68 originations. The 2nd most popular length was 30 Year, with 50 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 169 $37,335,000 $220,917
    $1k-2k 2 $880,000 $440,000
    $3k-4k 1 $235,000 $235,000

    The First Financial Federal Credit Union's average total fees were $159, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 169 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 52 $20,170,000 $387,885
    4-5% 44 $6,930,000 $157,500
    6-7% 25 $3,155,000 $126,200
    5-6% 23 $3,535,000 $153,696
    7-8% 14 $1,260,000 $90,000
    2.5-3% 11 $3,185,000 $289,545
    Over 8% 1 $35,000 $35,000

    During 2022, The First Financial Federal Credit Union's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was 3-4%, with 52 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 64 $3,420,000 $53,438 $9 5.62%
    $100k-200k 48 $6,430,000 $133,958 $9 5.00%
    $200k-400k 30 $8,870,000 $295,667 $22 4.05%
    $400k-600k 18 $8,520,000 $473,333 $274 4.08%
    $600k-1MM 10 $7,560,000 $756,000 $33 3.90%
    $1MM+ 2 $3,650,000 $1,825,000 $1,085 3.19%

    2022 saw The First Financial Federal Credit Union place emphasis on $100,000 or less loans with 64 originations, totaling $3,420,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $8,455,000 $172,551 $0 5.10%
    $150k-250k 43 $12,385,000 $288,023 $113 4.71%
    $75k-100k 38 $6,230,000 $163,947 $23 4.76%
    $250k+ 15 $6,825,000 $455,000 $167 5.25%
    $50k-75k 15 $2,745,000 $183,000 $21 4.97%
    $50k or less 11 $1,605,000 $145,909 $0 4.35%

    The First Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $150k-250k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 27 $8,755,000 $324,259 $93 4.51%
    20-30% 24 $4,780,000 $199,167 $7 4.34%
    44% 22 $3,050,000 $138,636 $26 5.95%
    42% 11 $2,955,000 $268,636 $0 4.64%
    <20% 9 $2,005,000 $222,778 $23 3.72%
    40% 9 $1,105,000 $122,778 $0 6.24%
    39% 8 $1,740,000 $217,500 $14 5.00%
    49% 8 $1,040,000 $130,000 $100 5.19%
    45% 7 $735,000 $105,000 $0 5.71%
    37% 7 $1,245,000 $177,857 $0 4.43%
    36% 6 $1,440,000 $240,000 $0 5.08%
    38% 6 $1,370,000 $228,333 $0 4.69%
    43% 5 $1,825,000 $365,000 $0 4.88%
    41% 5 $1,215,000 $243,000 $13 4.73%
    48% 5 $2,125,000 $425,000 $818 4.48%
    46% 4 $840,000 $210,000 $0 3.62%
    50-60% 4 $960,000 $240,000 $0 6.09%
    >60% 1 $355,000 $355,000 $0 3.38%
    47% 1 $325,000 $325,000 $0 3.25%

    The First Financial Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 27 originations. The next most common DTI ratio? 20-30%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 112 $22,860,000 $204,107 $53 4.88%
    Not provided 33 $8,865,000 $268,636 $77 4.48%
    Black 18 $4,090,000 $227,222 $0 5.50%
    Asian 7 $2,065,000 $295,000 $23 4.84%
    Native Hawaiian or Islander 1 $465,000 $465,000 $0 3.38%
    American Indian 1 $105,000 $105,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    87.93%

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

    Pick Rate

    Approvals leading to origination
    79.65%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 172 $38,450,000 $223,547

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    172 $38,450,000 $223,547

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $8,910,000 $247,500 $9 4.47%
    40-60% 24 $9,700,000 $404,167 $17 3.77%
    60-80% 15 $8,155,000 $543,667 $67 3.63%
    80-100% 5 $4,235,000 $847,000 $1,246 3.88%
    Under 20% 92 $7,450,000 $80,978 $6 5.59%