First Federal Bank Mortgage Rates, Fees & Info

Dickson, TN

LEI: 549300CNRVR02KBUDD48

Tax ID: 62-0181465

5 stars - out of 5 stars, based on 22 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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. They have a low ratio of USDA 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: Nashville, Clarksville, Daphne, Sevierville, and Jackson among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Federal 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. First Federal Bank is typically an average 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 6.69% 5/28/23
    30 Year Conventional Refi 6.69% 5/28/23
    30 Year Cash-out Refi 6.90% 5/28/23
    30 Year FHA Purchase 7.08% 5/28/23
    30 Year VA Purchase 5.98% 5/28/23
    30 Year USDA Purchase 6.30% 5/28/23
    15 Year Conventional Purchase 6.36% 5/28/23
    15 Year Conventional Refi 6.34% 5/28/23
    15 Year Cash-out Refi 6.34% 5/28/23
    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.

    First Federal Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Federal Bank. 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

    463

    Origination Dollar Volume (All Markets)

    $97,145,000
    Show all (7) awards

    Relative Rate

    First Federal Bank's average 30 year fixed mortgage rate was 4.51%.

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

    This yields a difference of -0.25%.

    Relative Fees (Closing Costs)

    First Federal Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,023.

    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
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 183 $42,305,000 $231,175 $3,616 4.85%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 152 $32,350,000 $212,829 $4,499 4.92%
    Outside of Metro Areas 117 $17,455,000 $149,188 $3,126 4.77%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $1,535,000 $511,667 $0 4.58%
    Sevierville, TN (FHA|USDA|VA) 1 $785,000 $785,000 $0 4.50%
    JACKSON, TN (FHA|USDA|VA) 2 $760,000 $380,000 $5,307 3.38%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $690,000 $345,000 $2,291 4.33%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $625,000 $625,000 $10,132 3.63%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $525,000 $525,000 $4,216 6.50%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.50%
    First Federal Bank's top markets include Nashville, Clarksville, Daphne, Sevierville, and Jackson among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (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.

    KELLEY MORTGAGE, LLC
    Similarity Rank: 420
    US COMMUNITY
    Similarity Rank: 490
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 987
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1104
    Fortera Federal Credit Union
    Similarity Rank: 1134
    Southeast Financial Credit Union
    Similarity Rank: 1260
    HERITAGE SOUTH COMMUNITY CU
    Similarity Rank: 2010
    The Farmers Bank
    Similarity Rank: 2295
    SHELTER LENDING SERVICES, L.L.C.
    Similarity Rank: 2680
    First Federal Bank
    Similarity Rank: 2920

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 421 $85,765,000 $203,717 $2,921 4.95%
    USDA 18 $4,160,000 $231,111 $7,195 3.66%
    VA 16 $5,030,000 $314,375 $9,873 3.83%
    FHA 8 $2,190,000 $273,750 $9,322 3.84%

    For 2022, First Federal Bank's most frequently originated type of loan was Conventional, with 421 originations. Their 2nd most popular type was USDA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 262 $66,690,000 $254,542 $5,049 4.81%
    Refi 114 $19,190,000 $168,333 $1,994 4.95%
    Other 36 $3,660,000 $101,667 $1,541 5.26%
    Cash Out Refi 31 $5,925,000 $191,129 $4,676 4.24%
    Home Improvement 20 $1,680,000 $84,000 $1,267 4.87%

    For 2022, First Federal Bank's most frequently cited loan purpose was Home Purchase, with 262 originations. The 2nd most popular reason was Refi, with 114 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 136 $35,300,000 $259,559 $6,023 4.51%
    Other 122 $19,560,000 $160,328 $1,715 5.12%
    5 Year 114 $23,840,000 $209,123 $1,360 5.10%
    10 Year 45 $10,055,000 $223,444 $2,593 4.54%
    1 Year 24 $5,210,000 $217,083 $1,269 5.61%
    15 Year 13 $1,365,000 $105,000 $3,354 3.43%
    20 Year 6 $870,000 $145,000 $3,272 4.21%
    30+ year 2 $660,000 $330,000 $6,202 4.69%
    3 Year 1 $285,000 $285,000 $0 5.00%

    For 2022, First Federal Bank's most frequently cited loan duration was 30 Year, with 136 originations. The 2nd most popular length was Other, with 122 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 188 $32,420,000 $172,447
    $1k-2k 50 $9,770,000 $195,400
    $2k-3k 29 $9,345,000 $322,241
    $3k-4k 24 $6,980,000 $290,833
    $4k-5k 10 $3,700,000 $370,000
    $5k+ 4 $1,920,000 $480,000

    First Federal Bank's average total fees were $6,023, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 188 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 216 $44,580,000 $206,389
    5-6% 105 $21,105,000 $201,000
    3-4% 55 $14,655,000 $266,455
    6-7% 47 $9,925,000 $211,170
    2.5-3% 23 $5,135,000 $223,261
    7-8% 8 $860,000 $107,500
    Over 8% 5 $205,000 $41,000
    <2.5% 4 $680,000 $170,000

    During 2022, First Federal Bank's average interest rate for loans was 4.51%, while their most frequently originated rate bucket for loans was 4-5%, with 216 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 156 $23,480,000 $150,513 $3,078 4.79%
    $200k-400k 153 $41,755,000 $272,908 $4,999 4.75%
    $100,000 or less 114 $6,720,000 $58,947 $1,598 5.13%
    $400k-600k 24 $11,260,000 $469,167 $6,365 4.66%
    $600k-1MM 12 $8,940,000 $745,000 $7,471 4.27%
    $1MM+ 4 $4,990,000 $1,247,500 $5,982 5.19%

    2022 saw First Federal Bank place emphasis on $100k-200k loans with 156 originations, totaling $23,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 95 $15,875,000 $167,105 $3,662 4.70%
    $75k-100k 73 $14,155,000 $193,904 $3,400 5.04%
    $50k or less 71 $7,895,000 $111,197 $3,195 4.68%
    $150k-250k 68 $17,670,000 $259,853 $4,545 4.79%
    $100k-150k 63 $15,765,000 $250,238 $4,140 4.93%
    $250k+ 56 $14,710,000 $262,679 $3,903 4.89%

    First Federal Bank lent most frequently to those with incomes in the $50k-75k range, with 95 originations. The second most popular income band? $75k-100k, with 73 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 84 $16,000,000 $190,476 $3,147 4.61%
    30-36% 77 $16,125,000 $209,416 $3,831 4.57%
    <20% 50 $6,850,000 $137,000 $2,130 4.86%
    37% 17 $3,575,000 $210,294 $2,632 5.07%
    36% 15 $2,475,000 $165,000 $4,214 4.72%
    38% 15 $2,695,000 $179,667 $4,854 5.12%
    42% 13 $4,245,000 $326,538 $5,087 4.98%
    41% 13 $3,175,000 $244,231 $4,562 4.60%
    40% 10 $1,990,000 $199,000 $3,646 4.95%
    43% 7 $2,075,000 $296,429 $5,048 4.89%
    44% 7 $1,225,000 $175,000 $4,641 5.20%
    46% 7 $2,065,000 $295,000 $6,450 3.87%
    39% 6 $1,380,000 $230,000 $5,691 4.21%
    48% 4 $620,000 $155,000 $3,080 5.06%
    45% 4 $1,000,000 $250,000 $7,291 4.44%
    >60% 3 $775,000 $258,333 $3,371 5.42%
    50-60% 3 $685,000 $228,333 $5,220 6.38%
    47% 3 $1,035,000 $345,000 $8,300 4.25%
    49% 2 $840,000 $420,000 $9,300 3.81%

    First Federal Bank lent most frequently to those with DTI ratios of 20-30%, with 84 originations. The next most common DTI ratio? 30-36%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 407 $82,605,000 $202,961 $3,514 4.84%
    Not applicable 31 $8,515,000 $274,677 $0 5.20%
    Black 17 $3,185,000 $187,353 $7,865 4.40%
    Not provided 4 $1,230,000 $307,500 $7,585 4.47%
    Asian 3 $945,000 $315,000 $2,672 5.00%
    Chinese 1 $665,000 $665,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    91.04%

    First Federal Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.12%

    First Federal Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    4461.56 1 $135,000 $135,000
    NA 462 $97,010,000 $209,978

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    463 $97,145,000 $209,816

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $4,330,000 $86,600 $1,814 5.14%
    40-60% 79 $13,625,000 $172,468 $3,223 4.84%
    60-80% 159 $43,495,000 $273,553 $3,794 4.84%
    80-100% 120 $29,100,000 $242,500 $5,008 4.75%
    Over 100% 23 $5,035,000 $218,913 $9,875 4.47%
    Under 20% 32 $1,560,000 $48,750 $1,563 5.03%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%