First Federal Bank Of The Midwest Mortgage Rates, Fees & Info
Youngstown, OHLEI: 549300LNUJ0IPK43UX33
Tax ID: 34-1746771
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Mortgage Data
Review & Overview
First Federal Bank Of The Midwest is a small bank specializing in Home Purchase loans. First Federal Bank Of The Midwest 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 Morgantown among others. We have data for 133 markets. (Some data included below & more in-depth data is available with an active subscription.)First Federal Bank Of The Midwest 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. First Federal Bank Of The Midwest 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
30 Year Conventional Purchase | 6.09% | 12/16/24 |
30 Year Conventional Refi | 6.07% | 12/16/24 |
30 Year Cash-out Refi | 6.49% | 12/16/24 |
30 Year FHA Purchase | 6.91% | 12/16/24 |
30 Year FHA Refi | 7.06% | 12/16/24 |
30 Year VA Purchase | 6.03% | 12/16/24 |
30 Year VA Refi | 6.27% | 12/16/24 |
30 Year USDA Purchase | 6.55% | 12/16/24 |
15 Year Conventional Purchase | 5.64% | 12/16/24 |
15 Year Conventional Refi | 6.22% | 12/16/24 |
15 Year Cash-out Refi | 6.22% | 12/16/24 |
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 Bank Of The Midwest Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
6,023Origination Dollar Volume (All Markets)
$1,500,455,000First Federal Bank of the Midwest - 2022
First Federal Bank of the Midwest is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 563 | $201,745,000 | $358,339 | $4,444 | 4.54% |
COLUMBUS, OH (FHA|USDA|VA) | 226 | $184,880,000 | $818,053 | $4,327 | 4.23% |
TOLEDO, OH (FHA|USDA|VA) | 659 | $124,825,000 | $189,416 | $3,276 | 4.79% |
AKRON, OH (FHA|USDA|VA) | 291 | $115,415,000 | $396,615 | $3,894 | 4.70% |
MORGANTOWN, WV (FHA|USDA|VA) | 345 | $97,615,000 | $282,942 | $4,266 | 4.13% |
PITTSBURGH, PA (FHA|USDA|VA) | 227 | $85,085,000 | $374,824 | $5,696 | 4.29% |
Outside of Metro Areas | 597 | $81,485,000 | $136,491 | $2,911 | 4.74% |
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 621 | $75,505,000 | $121,586 | $2,622 | 4.70% |
Findlay, OH (FHA|USDA|VA) | 319 | $58,755,000 | $184,185 | $3,537 | 4.66% |
ANN ARBOR, MI (FHA|USDA|VA) | 109 | $38,905,000 | $356,927 | $3,613 | 4.61% |
FORT WAYNE, IN (FHA|USDA|VA) | 66 | $37,430,000 | $567,121 | $2,859 | 5.10% |
CANTON-MASSILLON, OH (FHA|USDA|VA) | 145 | $35,745,000 | $246,517 | $3,806 | 4.55% |
CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 94 | $29,730,000 | $316,277 | $4,300 | 4.45% |
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 48 | $26,130,000 | $544,375 | $3,385 | 4.62% |
Adrian, MI (FHA|USDA|VA) | 179 | $24,745,000 | $138,240 | $2,502 | 4.66% |
Salem, OH (FHA|USDA|VA) | 229 | $22,765,000 | $99,410 | $1,874 | 4.72% |
Marion, OH (FHA|USDA|VA) | 138 | $18,940,000 | $137,246 | $3,147 | 4.84% |
Defiance, OH (FHA|USDA|VA) | 162 | $16,800,000 | $103,704 | $2,862 | 4.95% |
MONROE, MI (FHA|USDA|VA) | 43 | $16,405,000 | $381,512 | $3,145 | 4.97% |
Clarksburg, WV (FHA|USDA|VA) | 56 | $12,810,000 | $228,750 | $3,904 | 4.36% |
LIMA, OH (FHA|USDA|VA) | 100 | $11,520,000 | $115,200 | $2,923 | 4.90% |
Fairmont, WV (FHA|USDA|VA) | 54 | $9,980,000 | $184,815 | $4,119 | 4.28% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $8,815,000 | $2,938,333 | $5,270 | 4.84% |
LOUISVILLE, KY (FHA|USDA|VA) | 19 | $8,345,000 | $439,211 | $4,064 | 4.73% |
Sandusky, OH (FHA|USDA|VA) | 32 | $6,700,000 | $209,375 | $3,631 | 4.43% |
Tiffin, OH (FHA|USDA|VA) | 59 | $6,545,000 | $110,932 | $2,726 | 4.59% |
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 25 | $6,365,000 | $254,600 | $3,128 | 4.52% |
Wooster, OH (FHA|USDA|VA) | 24 | $5,960,000 | $248,333 | $5,355 | 4.89% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 12 | $5,780,000 | $481,667 | $4,728 | 4.40% |
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 21 | $5,425,000 | $258,333 | $4,264 | 4.15% |
Norwalk, OH (FHA|USDA|VA) | 61 | $5,275,000 | $86,475 | $1,875 | 4.89% |
Fremont, OH (FHA|USDA|VA) | 37 | $4,845,000 | $130,946 | $2,721 | 4.70% |
Ashtabula, OH (FHA|USDA|VA) | 23 | $4,405,000 | $191,522 | $4,224 | 4.80% |
Ashland, OH (FHA|USDA|VA) | 31 | $4,125,000 | $133,065 | $4,071 | 4.53% |
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 12 | $3,780,000 | $315,000 | $4,505 | 4.21% |
JACKSON, MI (FHA|USDA|VA) | 16 | $3,780,000 | $236,250 | $3,301 | 5.03% |
New Castle, PA (FHA|USDA|VA) | 16 | $3,760,000 | $235,000 | $4,995 | 4.32% |
Angola, IN (FHA|USDA|VA) | 15 | $3,685,000 | $245,667 | $2,804 | 4.57% |
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 10 | $3,410,000 | $341,000 | $4,527 | 4.14% |
Van Wert, OH (FHA|USDA|VA) | 33 | $3,155,000 | $95,606 | $2,734 | 4.85% |
Bellefontaine, OH (FHA|USDA|VA) | 10 | $3,030,000 | $303,000 | $4,192 | 4.40% |
WHEELING, WV-OH (FHA|USDA|VA) | 11 | $2,895,000 | $263,182 | $5,468 | 4.51% |
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 6 | $2,650,000 | $441,667 | $7,241 | 3.44% |
Bucyrus-Galion, OH (FHA|USDA|VA) | 6 | $2,590,000 | $431,667 | $3,929 | 5.15% |
Coldwater, MI (FHA|USDA|VA) | 11 | $2,495,000 | $226,818 | $3,102 | 4.32% |
Hillsdale, MI (FHA|USDA|VA) | 24 | $2,460,000 | $102,500 | $2,483 | 4.61% |
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $2,425,000 | $808,333 | $12,973 | 4.38% |
DAYTON-KETTERING, OH (FHA|USDA|VA) | 8 | $2,260,000 | $282,500 | $4,054 | 4.32% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 5 | $2,255,000 | $451,000 | $4,473 | 4.65% |
MANSFIELD, OH (FHA|USDA|VA) | 17 | $2,235,000 | $131,471 | $2,680 | 4.64% |
PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 6 | $2,110,000 | $351,667 | $5,820 | 3.75% |
SPRINGFIELD, OH (FHA|USDA|VA) | 5 | $2,095,000 | $419,000 | $5,004 | 4.67% |
JOHNSTOWN, PA (FHA|USDA|VA) | 6 | $1,950,000 | $325,000 | $6,371 | 3.15% |
Somerset, PA (FHA|USDA|VA) | 8 | $1,840,000 | $230,000 | $4,220 | 4.42% |
New Castle, IN (FHA|USDA|VA) | 4 | $1,650,000 | $412,500 | $5,859 | 4.75% |
MUNCIE, IN (FHA|USDA|VA) | 5 | $1,555,000 | $311,000 | $3,877 | 4.10% |
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 6 | $1,450,000 | $241,667 | $3,903 | 4.75% |
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 6 | $1,290,000 | $215,000 | $4,347 | 4.08% |
BLOOMINGTON, IN (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $2,251 | 4.30% |
Kendallville, IN (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $439 | 5.65% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $4,218 | 4.33% |
Indiana, PA (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $5,399 | 4.22% |
RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $1,120,000 | $560,000 | $4,238 | 5.75% |
CHARLESTON, WV (FHA|USDA|VA) | 5 | $1,095,000 | $219,000 | $5,362 | 4.53% |
COLUMBUS, IN (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $4,648 | 3.63% |
ERIE, PA (FHA|USDA|VA) | 2 | $1,060,000 | $530,000 | $5,223 | 4.75% |
Zanesville, OH (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $6,105 | 3.71% |
Frankfort, IN (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $4,305 | 4.46% |
Marietta, OH (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $4,305 | 4.37% |
Crawfordsville, IN (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $4,563 | 3.92% |
Kill Devil Hills, NC (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $3,514 | 4.43% |
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 6 | $970,000 | $161,667 | $2,094 | 3.93% |
Urbana, OH (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $3,998 | 4.91% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $4,173 | 3.96% |
Key West, FL (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $3,598 | 5.68% |
Elkins, WV (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $3,748 | 4.62% |
BECKLEY, WV (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $5,490 | 3.63% |
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $2,969 | 4.77% |
Coshocton, OH (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $5,430 | 5.33% |
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $2,095 | 4.50% |
TERRE HAUTE, IN (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $6,027 | 4.81% |
Warsaw, IN (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $2,408 | 6.13% |
ALTOONA, PA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $8,006 | 3.13% |
LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $4,100 | 4.54% |
Scottsburg, IN (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,819 | 4.63% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $3,817 | 4.67% |
PANAMA CITY, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,838 | 3.56% |
Auburn, IN (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $2,689 | 5.44% |
Wapakoneta, OH (FHA|USDA|VA) | 8 | $520,000 | $65,000 | $1,462 | 4.93% |
GAINESVILLE, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $1,668 | 3.87% |
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,652 | 4.81% |
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $6,062 | 3.38% |
PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $5,403 | 4.56% |
THE VILLAGES, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,905 | 4.81% |
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $6,265 | 5.06% |
WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $6,903 | 4.25% |
Georgetown, SC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,963 | 3.88% |
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,631 | 3.00% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,106 | 3.38% |
Frankfort, KY (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,306 | 3.25% |
Greenwood, SC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,076 | 3.38% |
Marion, IN (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,810 | 4.81% |
Peru, IN (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,490 | 4.81% |
Mount Vernon, OH (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,255 | 4.38% |
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $1,353 | 4.50% |
Mount Sterling, KY (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,584 | 4.88% |
CUMBERLAND, MD-WV (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,061 | 5.13% |
Richmond, IN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,605 | 3.63% |
Big Rapids, MI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,209 | 3.50% |
OWENSBORO, KY (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,263 | 5.00% |
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,641 | 2.63% |
Lewisburg, PA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,682 | 4.88% |
North Vernon, IN (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,898 | 5.56% |
Mount Pleasant, MI (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $1,860 | 5.31% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,562 | 2.38% |
Seymour, IN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,750 | 3.13% |
Bluefield, WV-VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,691 | 3.75% |
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,982 | 5.25% |
YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,189 | 2.88% |
Celina, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,699 | 4.63% |
SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,812 | 3.38% |
Morehead City, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,360 | 6.00% |
FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,132 | 2.88% |
New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,247 | 4.88% |
Decatur, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.50% |
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,785 | 2.25% |
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,688 | 5.00% |
Traverse City, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.25% |
OCALA, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,227 | 5.38% |
FLINT, MI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.13% |
Sidney, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.00% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $439 | 3.99% |
Athens, OH (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $724 | 4.74% |
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Product Mix
For 2022, First Federal Bank Of The Midwest's most frequently originated type of loan was Conventional, with 4,696 originations. Their 2nd most popular type was HELOC, with 1,177 originations.
Loan Reason
For 2022, First Federal Bank Of The Midwest's most frequently cited loan purpose was Home Purchase, with 3,614 originations. The 2nd most popular reason was Home Improvement, with 1,041 originations.
Loan Duration/Length
For 2022, First Federal Bank Of The Midwest's most frequently cited loan duration was 30 Year, with 2,581 originations. The 2nd most popular length was 20 Year, with 1,266 originations.
Origination Fees/Closing Costs
First Federal Bank Of The Midwest's average total fees were $3,760, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,721 originations.
Interest Rates
During 2022, First Federal Bank Of The Midwest's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 3-4%, with 1,932 originations.
Loan Sizing
2022 saw First Federal Bank Of The Midwest place emphasis on $100,000 or less loans with 1,997 originations, totaling $111,065,000 in origination value.
Applicant Income
First Federal Bank Of The Midwest lent most frequently to those with incomes in the $100k-150k range, with 1,301 originations. The second most popular income band? $50k-75k, with 1,117 originations.
Applicant Debt to Income Ratio
First Federal Bank Of The Midwest lent most frequently to those with DTI ratios of 20-30%, with 1,449 originations. The next most common DTI ratio? 30-36%, with 1,158 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.09%
First Federal Bank Of The Midwest has an average approval rate.
Pick Rate
Approvals leading to origination85.85%
First Federal Bank Of The Midwest has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 6,023 | $1,500,455,000 | $249,121 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
6,023 | $1,500,455,000 | $249,121 |
LTV Distribution
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% |