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

Lakewood, OH

LEI: 549300DPWFIO1S3DF358

Tax ID: 35-2537672

5 stars - Updated: 7/11/24 - out of 5 stars, based on 39 reviews

Latest/2023 | 2022 Data | 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, Akron, Toledo, and Cincinnati among others. We have data for 75 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 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 relatively high 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% 7/11/24
30 Year Conventional Purchase 6.27% 7/11/24
30 Year Conventional Refi 6.19% 7/11/24
30 Year Cash-out Refi 6.34% 7/11/24
30 Year FHA Purchase 7.61% 7/11/24
30 Year VA Purchase 6.70% 7/11/24
30 Year USDA Purchase 7.46% 7/11/24
15 Year Conventional Purchase 5.91% 7/11/24
15 Year Conventional Refi 5.98% 7/11/24
15 Year Cash-out Refi 5.98% 7/11/24
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

1,538

Origination Dollar Volume (All Markets)

$477,990,000
Show all (7) awards

Relative Rate

First Federal Savings And Loan Association Of Lakewood's average 30 year fixed mortgage rate was 6.58%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.1%.

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 $4,799.

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 $9,089.

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) 958 $239,140,000 $249,624 $4,549 6.92%
COLUMBUS, OH (FHA|USDA|VA) 132 $61,440,000 $465,455 $4,889 6.83%
AKRON, OH (FHA|USDA|VA) 119 $33,925,000 $285,084 $4,480 6.71%
TOLEDO, OH (FHA|USDA|VA) 72 $24,550,000 $340,972 $5,264 6.70%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 27 $12,855,000 $476,111 $5,700 6.62%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $11,840,000 $5,920,000 $6,462 6.11%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 18 $11,190,000 $621,667 $6,829 5.82%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 10 $6,100,000 $610,000 $4,425 6.38%
CANTON-MASSILLON, OH (FHA|USDA|VA) 14 $4,200,000 $300,000 $4,820 6.48%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 20 $4,040,000 $202,000 $3,756 7.52%
RALEIGH-CARY, NC (FHA|USDA|VA) 5 $3,805,000 $761,000 $4,747 6.12%
DAYTON-KETTERING, OH (FHA|USDA|VA) 6 $3,160,000 $526,667 $4,358 6.02%
LOUISVILLE, KY (FHA|USDA|VA) 4 $2,650,000 $662,500 $4,480 5.17%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $2,635,000 $878,333 $13,377 6.19%
Outside of Metro Areas 6 $2,610,000 $435,000 $4,950 6.94%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $2,530,000 $421,667 $5,297 6.13%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $2,305,000 $768,333 $15,913 5.27%
Mount Vernon, OH (FHA|USDA|VA) 4 $2,300,000 $575,000 $4,663 6.34%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $2,165,000 $721,667 $6,452 5.93%
ANN ARBOR, MI (FHA|USDA|VA) 4 $2,130,000 $532,500 $5,758 6.38%
Wooster, OH (FHA|USDA|VA) 7 $1,955,000 $279,286 $5,112 6.69%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,835,000 $611,667 $5,047 5.99%
MONROE, MI (FHA|USDA|VA) 7 $1,795,000 $256,429 $4,940 7.12%
Sandusky, OH (FHA|USDA|VA) 8 $1,640,000 $205,000 $4,485 6.66%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,635,000 $545,000 $4,876 6.10%
New Philadelphia-Dover, OH (FHA|USDA|VA) 10 $1,600,000 $160,000 $5,314 6.91%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 6 $1,560,000 $260,000 $5,919 7.11%
KNOXVILLE, TN (FHA|USDA|VA) 2 $1,510,000 $755,000 $5,171 6.65%
PITTSBURGH, PA (FHA|USDA|VA) 5 $1,485,000 $297,000 $4,616 6.23%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,380,000 $690,000 $7,031 5.78%
Fremont, OH (FHA|USDA|VA) 3 $1,295,000 $431,667 $5,518 6.71%
Norwalk, OH (FHA|USDA|VA) 4 $1,210,000 $302,500 $6,626 6.50%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $995,000 $995,000 $5,437 6.24%
Ashland, OH (FHA|USDA|VA) 4 $970,000 $242,500 $5,321 6.90%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $965,000 $965,000 $2,257 5.50%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $965,000 $965,000 $3,620 5.93%
PEORIA, IL (FHA|USDA|VA) 3 $965,000 $321,667 $2,598 6.34%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $960,000 $480,000 $4,416 6.12%
FORT WAYNE, IN (FHA|USDA|VA) 1 $895,000 $895,000 $4,331 4.97%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $865,000 $865,000 $9,505 5.83%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $800,000 $400,000 $5,216 6.37%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $795,000 $265,000 $2,969 6.75%
Hillsdale, MI (FHA|USDA|VA) 2 $740,000 $370,000 $6,338 7.44%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $735,000 $735,000 $5,579 6.75%
Ashtabula, OH (FHA|USDA|VA) 6 $700,000 $116,667 $3,948 7.66%
New Castle, IN (FHA|USDA|VA) 1 $695,000 $695,000 $2,763 7.40%
GAINESVILLE, FL (FHA|USDA|VA) 2 $690,000 $345,000 $4,755 6.27%
Angola, IN (FHA|USDA|VA) 1 $675,000 $675,000 $7,482 6.75%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $625,000 $625,000 $6,792 5.52%
MANSFIELD, OH (FHA|USDA|VA) 2 $620,000 $310,000 $4,645 6.53%
FLINT, MI (FHA|USDA|VA) 1 $615,000 $615,000 $3,812 6.75%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $595,000 $595,000 $3,103 4.97%
EVANSVILLE, IN-KY (FHA|USDA|VA) 2 $580,000 $290,000 $2,575 5.83%
Greenwood, SC (FHA|USDA|VA) 1 $575,000 $575,000 $4,093 8.20%
Adrian, MI (FHA|USDA|VA) 1 $545,000 $545,000 $6,237 6.55%
AMES, IA (FHA|USDA|VA) 1 $535,000 $535,000 $3,626 5.88%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $535,000 $535,000 $4,697 5.93%
Findlay, OH (FHA|USDA|VA) 2 $480,000 $240,000 $5,800 7.41%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $455,000 $455,000 $3,521 6.35%
Spirit Lake, IA (FHA|USDA|VA) 1 $415,000 $415,000 $4,008 6.83%
Tiffin, OH (FHA|USDA|VA) 1 $405,000 $405,000 $5,494 5.95%
Quincy, IL-MO (FHA|USDA|VA) 1 $395,000 $395,000 $3,376 8.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $365,000 $365,000 $2,234 6.48%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $355,000 $355,000 $5,851 5.55%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $295,000 $295,000 $4,855 5.83%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $275,000 $275,000 $3,782 5.83%
LANCASTER, PA (FHA|USDA|VA) 1 $255,000 $255,000 $4,405 5.99%
Sunbury, PA (FHA|USDA|VA) 1 $255,000 $255,000 $4,352 5.83%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $235,000 $235,000 $3,343 5.62%
Orangeburg, SC (FHA|USDA|VA) 1 $195,000 $195,000 $4,422 8.10%
Bucyrus-Galion, OH (FHA|USDA|VA) 1 $135,000 $135,000 $4,636 5.80%
Point Pleasant, WV-OH (FHA|USDA|VA) 1 $125,000 $125,000 $3,940 7.25%
Kinston, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,319 7.10%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $75,000 $75,000 $2,520 7.80%
Bellefontaine, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.00%
First Federal Savings And Loan Association Of Lakewood's top markets include Cleveland, Columbus, Akron, Toledo, and Cincinnati among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (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.

    FIRESTONE
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    MEMBERFOCUS COMMUNITY
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,198 $437,430,000 $365,134 $4,645 6.56%
    HELOC 310 $32,940,000 $106,258 n/a 7.85%
    FHA 21 $4,945,000 $235,476 $8,469 6.71%
    VA 8 $2,540,000 $317,500 $8,371 6.73%
    USDA 1 $135,000 $135,000 $6,780 6.63%

    For 2023, First Federal Savings And Loan Association Of Lakewood's most frequently originated type of loan was Conventional, with 1,198 originations. Their 2nd most popular type was HELOC, with 310 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,083 $402,575,000 $371,722 $4,943 6.53%
    Other 206 $23,570,000 $114,417 $3,397 7.62%
    Home Improvement 118 $11,930,000 $101,102 $0 7.90%
    Cash Out Refi 94 $19,510,000 $207,553 $2,818 7.19%
    Refi 37 $20,405,000 $551,486 $2,684 6.58%

    For 2023, First Federal Savings And Loan Association Of Lakewood's most frequently cited loan purpose was Home Purchase, with 1,083 originations. The 2nd most popular reason was Other, with 206 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,122 $385,130,000 $343,253 $4,799 6.58%
    20 Year 312 $34,080,000 $109,231 $6,771 7.84%
    15 Year 51 $12,915,000 $253,235 $3,572 6.21%
    10 Year 41 $24,805,000 $605,000 $2,222 6.44%
    5 Year 7 $9,515,000 $1,359,286 $0 7.13%
    Other 5 $11,545,000 $2,309,000 $0 6.66%

    For 2023, First Federal Savings And Loan Association Of Lakewood's most frequently cited loan duration was 30 Year, with 1,122 originations. The 2nd most popular length was 20 Year, with 312 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 744 $242,490,000 $325,927
    $1k-2k 210 $45,720,000 $217,714
    $2k-3k 150 $77,060,000 $513,733
    $5k+ 34 $17,770,000 $522,647
    $3k-4k 29 $10,035,000 $346,034
    $4k-5k 12 $6,370,000 $530,833

    First Federal Savings And Loan Association Of Lakewood's average total fees were $4,799, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 744 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 699 $251,075,000 $359,192
    7-8% 452 $84,640,000 $187,257
    5-6% 243 $114,265,000 $470,226
    Over 8% 124 $13,340,000 $107,581
    4-5% 17 $11,795,000 $693,824
    3-4% 3 $2,875,000 $958,333

    During 2023, First Federal Savings And Loan Association Of Lakewood's average interest rate for loans was 6.58%, while their most frequently originated rate bucket for loans was 6-7%, with 699 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 435 $122,815,000 $282,333 $4,666 6.60%
    $100k-200k 395 $57,985,000 $146,797 $3,803 6.98%
    $100,000 or less 323 $18,495,000 $57,260 $3,230 7.59%
    $400k-600k 195 $94,565,000 $484,949 $5,623 6.39%
    $600k-1MM 146 $111,130,000 $761,164 $6,254 6.14%
    $1MM+ 44 $73,000,000 $1,659,091 $8,972 6.16%

    2023 saw First Federal Savings And Loan Association Of Lakewood place emphasis on $200k-400k loans with 435 originations, totaling $122,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 344 $109,280,000 $317,674 $5,224 6.82%
    $250k+ 340 $181,750,000 $534,559 $5,486 6.61%
    $100k-150k 319 $71,015,000 $222,618 $4,712 6.99%
    $50k-75k 225 $34,195,000 $151,978 $3,852 6.77%
    $75k-100k 173 $28,105,000 $162,457 $4,160 7.05%
    $50k or less 87 $7,985,000 $91,782 $3,361 6.88%

    First Federal Savings And Loan Association Of Lakewood lent most frequently to those with incomes in the $150k-250k range, with 344 originations. The second most popular income band? $250k+, with 340 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 382 $105,920,000 $277,277 $4,428 6.87%
    30-36% 298 $91,020,000 $305,436 $4,736 6.79%
    <20% 153 $50,105,000 $327,484 $4,807 6.76%
    37% 79 $17,725,000 $224,367 $4,232 6.90%
    40% 68 $20,010,000 $294,265 $5,649 6.90%
    39% 67 $22,155,000 $330,672 $5,274 6.77%
    36% 64 $15,060,000 $235,313 $4,177 6.97%
    41% 62 $21,540,000 $347,419 $5,188 6.81%
    38% 58 $14,350,000 $247,414 $4,131 6.95%
    42% 55 $17,775,000 $323,182 $5,369 6.67%
    44% 42 $12,300,000 $292,857 $4,563 6.62%
    45% 32 $9,990,000 $312,188 $4,646 6.74%
    46% 25 $6,675,000 $267,000 $4,321 6.89%
    43% 25 $7,395,000 $295,800 $5,195 6.82%
    49% 23 $4,535,000 $197,174 $4,727 6.96%
    48% 23 $6,225,000 $270,652 $5,119 6.94%
    47% 22 $6,100,000 $277,273 $5,312 7.01%
    50-60% 7 $2,635,000 $376,429 $7,387 6.45%
    >60% 3 $815,000 $271,667 $4,646 6.61%

    First Federal Savings And Loan Association Of Lakewood lent most frequently to those with DTI ratios of 20-30%, with 382 originations. The next most common DTI ratio? 30-36%, with 298 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,084 $312,950,000 $288,699 $4,682 6.80%
    Not provided 285 $79,765,000 $279,877 $4,945 6.96%
    Not applicable 47 $44,785,000 $952,872 $0 6.58%
    Asian 54 $20,080,000 $371,852 $4,895 6.73%
    Black 43 $10,225,000 $237,791 $4,574 7.08%
    Asian Indian 13 $5,795,000 $445,769 $4,495 6.19%
    Other Asian 2 $1,370,000 $685,000 $5,140 5.82%
    American Indian 5 $1,015,000 $203,000 $9,196 6.92%
    Chinese 2 $960,000 $480,000 $4,518 5.93%
    Filipino 1 $695,000 $695,000 $8,623 6.15%
    Native Hawaiian or Islander 1 $275,000 $275,000 $3,800 6.75%
    Vietnamese 1 $75,000 $75,000 $3,376 7.88%

    Approval Rates

    Total approvals of all applications
    94.07%

    First Federal Savings And Loan Association Of Lakewood has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.97%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,538 $477,990,000 $310,787

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,538 $477,990,000 $310,787

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 136 $18,800,000 $138,235 $2,483 7.49%
    40-60% 143 $49,625,000 $347,028 $4,302 6.95%
    60-80% 377 $122,045,000 $323,727 $4,455 6.75%
    80-100% 709 $275,185,000 $388,131 $5,034 6.47%
    Over 100% 4 $1,180,000 $295,000 $11,052 6.75%
    Under 20% 169 $11,155,000 $66,006 $1,375 7.82%