First Federal Savings And Loan Association Of Lakewood Mortgage Rates, Fees & Info

Lakewood, OH

LEI: 549300DPWFIO1S3DF358

Tax ID: 35-2537672

5 stars - Updated: 2/19/24 - out of 5 stars, based on 51 reviews

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

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Mortgage Data

Review & Overview

First Federal Savings And Loan Association Of Lakewood is a smaller mortgage company specializing in Home Purchase loans. First Federal Savings And Loan Association Of Lakewood has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Cleveland, Columbus, Toledo, Akron, and Cincinnati among others. We have data for 88 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Federal Savings And Loan Association Of Lakewood 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 Savings And Loan Association Of Lakewood 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
Home Equity Line of Credit (HELOC) 5.83% 2/19/24
30 Year Conventional Purchase 6.27% 2/19/24
30 Year Conventional Refi 6.19% 2/19/24
30 Year Cash-out Refi 6.34% 2/19/24
30 Year FHA Purchase 7.61% 2/19/24
30 Year VA Purchase 6.70% 2/19/24
30 Year USDA Purchase 7.46% 2/19/24
15 Year Conventional Purchase 5.91% 2/19/24
15 Year Conventional Refi 5.98% 2/19/24
15 Year Cash-out Refi 5.98% 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.

First Federal Savings And Loan Association Of Lakewood Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Federal Savings And Loan Association Of Lakewood. 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

2,560

Origination Dollar Volume (All Markets)

$737,110,000
Show all (7) awards

Relative Rate

First Federal Savings And Loan Association Of Lakewood's average 30 year fixed mortgage rate was 4.61%.

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

This yields a difference of -0.15%.

Relative Fees (Closing Costs)

First Federal Savings And Loan Association Of Lakewood's average total fees/closing costs for a 30 year fixed rate mortgage were $4,637.

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
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1,546 $376,650,000 $243,629 $4,199 4.54%
COLUMBUS, OH (FHA|USDA|VA) 277 $115,385,000 $416,552 $4,679 4.24%
TOLEDO, OH (FHA|USDA|VA) 161 $58,985,000 $366,366 $4,828 4.66%
AKRON, OH (FHA|USDA|VA) 167 $39,995,000 $239,491 $3,965 4.51%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 34 $12,970,000 $381,471 $4,610 4.71%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 52 $8,370,000 $160,962 $3,207 5.00%
MONROE, MI (FHA|USDA|VA) 22 $7,720,000 $350,909 $4,829 4.59%
Sandusky, OH (FHA|USDA|VA) 21 $7,145,000 $340,238 $5,144 4.23%
New Philadelphia-Dover, OH (FHA|USDA|VA) 26 $4,780,000 $183,846 $4,441 4.99%
Ashtabula, OH (FHA|USDA|VA) 14 $4,710,000 $336,429 $5,789 4.67%
CANTON-MASSILLON, OH (FHA|USDA|VA) 23 $4,435,000 $192,826 $3,521 4.44%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $4,285,000 $612,143 $6,514 4.89%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $4,265,000 $609,286 $7,000 3.84%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 8 $3,870,000 $483,750 $5,443 3.93%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $3,630,000 $907,500 $7,382 3.99%
Outside of Metro Areas 12 $3,560,000 $296,667 $4,802 4.86%
Norwalk, OH (FHA|USDA|VA) 9 $3,485,000 $387,222 $6,495 4.24%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 5 $3,355,000 $671,000 $5,094 5.23%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 7 $3,325,000 $475,000 $5,869 4.27%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $2,945,000 $589,000 $6,892 5.28%
LOUISVILLE, KY (FHA|USDA|VA) 6 $2,900,000 $483,333 $3,664 3.92%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 4 $2,760,000 $690,000 $4,469 4.46%
ANN ARBOR, MI (FHA|USDA|VA) 8 $2,710,000 $338,750 $4,842 4.33%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 10 $2,640,000 $264,000 $2,830 5.17%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $2,610,000 $652,500 $6,816 4.33%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $2,205,000 $735,000 $4,501 4.28%
MANSFIELD, OH (FHA|USDA|VA) 7 $2,195,000 $313,571 $4,109 4.15%
JACKSON, MI (FHA|USDA|VA) 5 $2,165,000 $433,000 $5,734 4.34%
DAYTON-KETTERING, OH (FHA|USDA|VA) 5 $2,095,000 $419,000 $4,690 3.46%
Ashland, OH (FHA|USDA|VA) 8 $1,990,000 $248,750 $5,363 4.37%
PITTSBURGH, PA (FHA|USDA|VA) 3 $1,945,000 $648,333 $6,340 3.62%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 7 $1,785,000 $255,000 $4,061 4.39%
Adrian, MI (FHA|USDA|VA) 3 $1,755,000 $585,000 $5,029 4.95%
Mount Vernon, OH (FHA|USDA|VA) 3 $1,625,000 $541,667 $8,202 4.70%
KNOXVILLE, TN (FHA|USDA|VA) 3 $1,465,000 $488,333 $4,138 4.85%
Bucyrus-Galion, OH (FHA|USDA|VA) 3 $1,395,000 $465,000 $4,368 4.93%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $1,380,000 $690,000 $6,933 3.66%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $1,325,000 $441,667 $2,397 4.10%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $1,240,000 $620,000 $4,480 4.52%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $995,000 $995,000 $5,705 3.34%
Tiffin, OH (FHA|USDA|VA) 4 $990,000 $247,500 $4,181 4.22%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $935,000 $935,000 $5,257 4.89%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $930,000 $465,000 $4,219 4.00%
New Castle, PA (FHA|USDA|VA) 3 $885,000 $295,000 $5,840 4.84%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $880,000 $440,000 $5,236 4.84%
Findlay, OH (FHA|USDA|VA) 2 $880,000 $440,000 $5,229 3.50%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $880,000 $440,000 $5,490 4.87%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $855,000 $855,000 $4,588 3.24%
Wapakoneta, OH (FHA|USDA|VA) 2 $850,000 $425,000 $5,385 4.72%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $815,000 $815,000 $4,292 3.64%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $795,000 $795,000 $8,461 3.04%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $725,000 $725,000 $4,084 3.49%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $725,000 $725,000 $4,060 2.99%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $720,000 $360,000 $4,950 4.95%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $645,000 $645,000 $4,622 4.09%
ROANOKE, VA (FHA|USDA|VA) 2 $600,000 $300,000 $3,507 4.80%
LANCASTER, PA (FHA|USDA|VA) 1 $555,000 $555,000 $6,009 4.89%
SPARTANBURG, SC (FHA|USDA|VA) 1 $555,000 $555,000 $4,875 3.54%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $515,000 $515,000 $6,071 5.40%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $505,000 $505,000 $4,606 4.09%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $485,000 $485,000 $2,859 3.53%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $485,000 $485,000 $4,277 3.04%
Fremont, OH (FHA|USDA|VA) 1 $435,000 $435,000 $5,583 4.00%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $415,000 $415,000 $3,115 2.98%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $415,000 $415,000 $4,585 3.04%
SPRINGFIELD, OH (FHA|USDA|VA) 1 $415,000 $415,000 $9,916 6.17%
Hillsdale, MI (FHA|USDA|VA) 2 $390,000 $195,000 $2,740 7.01%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $385,000 $385,000 $5,127 3.09%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $375,000 $375,000 $4,055 5.18%
WHEELING, WV-OH (FHA|USDA|VA) 1 $375,000 $375,000 $4,123 4.94%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $365,000 $365,000 $4,675 4.09%
Selinsgrove, PA (FHA|USDA|VA) 1 $365,000 $365,000 $4,625 3.04%
LYNCHBURG, VA (FHA|USDA|VA) 1 $355,000 $355,000 $3,739 4.44%
Georgetown, SC (FHA|USDA|VA) 1 $345,000 $345,000 $3,976 3.79%
RICHMOND, VA (FHA|USDA|VA) 1 $345,000 $345,000 $3,718 6.55%
THE VILLAGES, FL (FHA|USDA|VA) 1 $345,000 $345,000 $3,543 4.28%
Athens, OH (FHA|USDA|VA) 1 $315,000 $315,000 $4,216 6.07%
Point Pleasant, WV-OH (FHA|USDA|VA) 1 $315,000 $315,000 $5,505 3.72%
Wooster, OH (FHA|USDA|VA) 2 $310,000 $155,000 $5,265 5.70%
Coshocton, OH (FHA|USDA|VA) 1 $285,000 $285,000 $3,669 4.65%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,646 3.04%
ROCHESTER, NY (FHA|USDA|VA) 1 $255,000 $255,000 $4,789 4.57%
DECATUR, IL (FHA|USDA|VA) 1 $225,000 $225,000 $2,558 4.29%
Marion, OH (FHA|USDA|VA) 2 $220,000 $110,000 $0 4.68%
Frankfort, KY (FHA|USDA|VA) 1 $165,000 $165,000 $3,309 6.17%
Salem, OH (FHA|USDA|VA) 1 $105,000 $105,000 $3,154 4.35%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $65,000 $65,000 $3,427 6.60%
Chillicothe, OH (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.25%
First Federal Savings And Loan Association Of Lakewood's top markets include Cleveland, Columbus, Toledo, Akron, and Cincinnati among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Similar Lenders

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

    Bay Area Credit Union, Inc.
    Similarity Rank: 18
    St James Mortgage Corporation
    Similarity Rank: 114
    Mutual Savings Bank
    Similarity Rank: 176
    CINFED Federal Credit Union
    Similarity Rank: 288
    The Riddell National Bank
    Similarity Rank: 378
    Eagle Savings Bank
    Similarity Rank: 384

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,028 $676,100,000 $333,383 $4,283 4.49%
    HELOC 487 $51,245,000 $105,226 n/a 4.54%
    FHA 36 $7,240,000 $201,111 $8,080 5.16%
    VA 6 $1,960,000 $326,667 $8,525 5.81%
    USDA 3 $565,000 $188,333 $6,654 5.92%

    For 2022, First Federal Savings And Loan Association Of Lakewood's most frequently originated type of loan was Conventional, with 2,028 originations. Their 2nd most popular type was HELOC, with 487 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,571 $560,995,000 $357,094 $4,889 4.66%
    Cash Out Refi 305 $70,095,000 $229,820 $2,533 4.25%
    Home Improvement 257 $29,515,000 $114,844 $2,359 4.27%
    Other 247 $26,665,000 $107,955 $2,872 4.91%
    Refi 180 $49,840,000 $276,889 $2,830 3.57%

    For 2022, First Federal Savings And Loan Association Of Lakewood's most frequently cited loan purpose was Home Purchase, with 1,571 originations. The 2nd most popular reason was Cash Out Refi, with 305 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,748 $588,960,000 $336,934 $4,637 4.61%
    20 Year 505 $58,715,000 $116,267 $4,742 4.53%
    15 Year 209 $48,495,000 $232,033 $2,583 3.65%
    10 Year 82 $35,510,000 $433,049 $727 4.61%
    Other 10 $3,900,000 $390,000 $3,653 4.54%
    5 Year 6 $1,530,000 $255,000 $0 5.15%

    For 2022, First Federal Savings And Loan Association Of Lakewood's most frequently cited loan duration was 30 Year, with 1,748 originations. The 2nd most popular length was 20 Year, with 505 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,254 $370,440,000 $295,407
    $2k-3k 331 $158,575,000 $479,079
    $1k-2k 267 $56,395,000 $211,217
    $5k+ 67 $30,935,000 $461,716
    $3k-4k 49 $19,775,000 $403,571
    $4k-5k 38 $13,590,000 $357,632

    First Federal Savings And Loan Association Of Lakewood's average total fees were $4,637, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,254 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 751 $251,185,000 $334,467
    4-5% 608 $186,820,000 $307,270
    5-6% 591 $167,365,000 $283,190
    2.5-3% 281 $67,525,000 $240,302
    6-7% 254 $50,680,000 $199,528
    7-8% 55 $8,055,000 $146,455
    <2.5% 19 $5,415,000 $285,000
    Over 8% 1 $65,000 $65,000

    During 2022, First Federal Savings And Loan Association Of Lakewood's average interest rate for loans was 4.61%, while their most frequently originated rate bucket for loans was 3-4%, with 751 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 788 $225,550,000 $286,231 $4,332 4.45%
    $100k-200k 648 $94,790,000 $146,281 $3,523 4.62%
    $100,000 or less 535 $32,925,000 $61,542 $2,628 4.78%
    $400k-600k 320 $155,670,000 $486,469 $5,377 4.35%
    $600k-1MM 223 $167,515,000 $751,188 $6,212 4.12%
    $1MM+ 46 $60,660,000 $1,318,696 $8,295 4.31%

    2022 saw First Federal Savings And Loan Association Of Lakewood place emphasis on $200k-400k loans with 788 originations, totaling $225,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 607 $144,225,000 $237,603 $4,215 4.56%
    $150k-250k 542 $174,110,000 $321,236 $4,791 4.52%
    $250k+ 457 $240,225,000 $525,656 $5,464 4.35%
    $50k-75k 354 $55,090,000 $155,621 $3,510 4.50%
    $75k-100k 345 $67,625,000 $196,014 $4,027 4.47%
    $50k or less 188 $19,680,000 $104,681 $3,353 4.63%

    First Federal Savings And Loan Association Of Lakewood lent most frequently to those with incomes in the $100k-150k range, with 607 originations. The second most popular income band? $150k-250k, with 542 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 678 $190,710,000 $281,283 $4,180 4.40%
    30-36% 521 $145,565,000 $279,395 $4,238 4.58%
    <20% 296 $83,580,000 $282,365 $4,151 4.20%
    42% 119 $30,535,000 $256,597 $4,638 4.47%
    40% 103 $33,845,000 $328,592 $5,134 4.36%
    38% 101 $29,135,000 $288,465 $4,331 4.59%
    37% 101 $31,295,000 $309,851 $4,291 4.76%
    39% 99 $31,935,000 $322,576 $4,497 4.57%
    36% 90 $26,230,000 $291,444 $4,703 4.53%
    41% 83 $25,315,000 $305,000 $4,992 4.66%
    43% 67 $19,435,000 $290,075 $4,773 4.81%
    45% 54 $11,610,000 $215,000 $4,137 4.95%
    44% 49 $12,985,000 $265,000 $4,972 4.55%
    46% 35 $6,835,000 $195,286 $4,019 4.69%
    47% 35 $8,165,000 $233,286 $4,124 4.89%
    49% 31 $7,415,000 $239,194 $4,999 4.45%
    48% 29 $6,065,000 $209,138 $4,404 4.50%
    50-60% 1 $245,000 $245,000 $3,891 4.27%
    >60% 1 $55,000 $55,000 $0 6.50%

    First Federal Savings And Loan Association Of Lakewood lent most frequently to those with DTI ratios of 20-30%, with 678 originations. The next most common DTI ratio? 30-36%, with 521 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,739 $506,945,000 $291,515 $4,337 4.53%
    Not provided 602 $137,970,000 $229,186 $4,328 4.38%
    Not applicable 67 $36,155,000 $539,627 $0 5.25%
    Asian 75 $33,055,000 $440,733 $5,604 4.64%
    Black 53 $11,275,000 $212,736 $3,627 4.90%
    Asian Indian 12 $6,280,000 $523,333 $5,323 4.09%
    Other Asian 2 $1,450,000 $725,000 $5,507 4.19%
    Other Pacific Islander 1 $995,000 $995,000 $8,640 3.49%
    American Indian 3 $785,000 $261,667 $2,384 2.98%
    Japanese 1 $775,000 $775,000 $5,510 4.34%
    Chinese 2 $730,000 $365,000 $4,177 4.85%
    Native Hawaiian or Islander 1 $345,000 $345,000 $3,967 4.22%
    Filipino 1 $245,000 $245,000 $4,070 5.93%
    Korean 1 $105,000 $105,000 $295 3.44%

    Approval Rates

    Total approvals of all applications
    95.42%

    First Federal Savings And Loan Association Of Lakewood 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
    83.67%

    First Federal Savings And Loan Association Of Lakewood has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,560 $737,110,000 $287,934

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,560 $737,110,000 $287,934

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 245 $31,095,000 $126,918 $1,922 4.36%
    40-60% 242 $58,190,000 $240,455 $3,307 4.10%
    60-80% 734 $213,720,000 $291,172 $4,096 4.59%
    80-100% 1,082 $418,400,000 $386,691 $4,908 4.58%
    Over 100% 1 $385,000 $385,000 $15,340 5.75%
    Under 20% 256 $15,320,000 $59,844 $573 4.56%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%