First Federal Savings Bank Mortgage Rates, Fees & Info

Evansville, IN

LEI: 549300MTH7LUU0OHYB47

Tax ID: 35-0309740

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Savings Bank is a smaller bank specializing in Home Purchase loans. First Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Evansville, Washington, Jasper, Barnstable Town, and Bowling Green among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Federal Savings 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 Savings Bank 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 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
    30 Year Conventional Purchase 6.62% 12/3/24
    30 Year Conventional Refi 7.13% 12/3/24
    30 Year Cash-out Refi 7.08% 12/3/24
    15 Year Conventional Purchase 6.44% 12/3/24
    15 Year Conventional Refi 6.38% 12/3/24
    15 Year Cash-out Refi 6.38% 12/3/24
    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 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 Savings 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

    439

    Origination Dollar Volume (All Markets)

    $81,845,000

    Awards

    First Federal Savings Bank 30 Year Conventional Loans gold First Federal Savings Bank 30 Year Conventional Loans gold First Federal Savings Bank 30 Year Conventional Loans gold
    Show all (3) awards

    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
    EVANSVILLE, IN-KY (FHA|USDA|VA) 321 $63,845,000 $198,894 $1,953 5.25%
    Washington, IN (FHA|USDA|VA) 59 $7,595,000 $128,729 $1,281 6.06%
    Jasper, IN (FHA|USDA|VA) 31 $3,305,000 $106,613 $1,575 5.54%
    Outside of Metro Areas 13 $1,855,000 $142,692 $1,670 5.01%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $805,000 $805,000 $3,413 3.25%
    BOWLING GREEN, KY (FHA|USDA|VA) 2 $770,000 $385,000 $3,495 5.50%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $745,000 $745,000 $2,858 5.50%
    OWENSBORO, KY (FHA|USDA|VA) 2 $550,000 $275,000 $2,938 5.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $485,000 $485,000 $5,669 3.38%
    Central City, KY (FHA|USDA|VA) 1 $465,000 $465,000 $5,039 5.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $415,000 $415,000 $4,133 5.50%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $375,000 $375,000 $2,250 3.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $265,000 $265,000 $0 5.00%
    Vincennes, IN (FHA|USDA|VA) 2 $140,000 $70,000 $38 5.88%
    BLOOMINGTON, IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,262 4.63%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.00%
    First Federal Savings Bank's top markets include Evansville, Washington, Jasper, Barnstable Town, and Bowling Green among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

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

    EVANSVILLE
    Similarity Rank: 21
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 42
    SERVICE ONE
    Similarity Rank: 54
    CRANE
    Similarity Rank: 68
    Abound Federal Credit Union
    Similarity Rank: 102
    Heritage Federal Credit Union
    Similarity Rank: 232
    Morgantown Bank & Trust Company, Incorporated
    Similarity Rank: 240
    Edmonton State Bank
    Similarity Rank: 279
    First Southern National Bank
    Similarity Rank: 480
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 494

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 439 $81,845,000 $186,435 $1,845 5.36%

    For 2022, First Federal Savings Bank's most frequently originated type of loan was Conventional, with 439 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 306 $66,410,000 $217,026 $2,383 5.21%
    Refi 52 $10,370,000 $199,423 $1,086 4.62%
    Other 36 $1,820,000 $50,556 $408 6.87%
    Home Improvement 34 $1,920,000 $56,471 $362 6.68%
    Cash Out Refi 11 $1,325,000 $120,455 $2,048 4.28%

    For 2022, First Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 306 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 241 $45,575,000 $189,108 $2,162 5.31%
    15 Year 100 $11,210,000 $112,100 $724 5.65%
    10 Year 25 $1,785,000 $71,400 $209 5.67%
    30+ year 25 $10,735,000 $429,400 $5,016 4.84%
    20 Year 21 $4,265,000 $203,095 $2,404 4.84%
    Other 12 $5,860,000 $488,333 $3,309 5.10%
    5 Year 12 $640,000 $53,333 $102 5.61%
    1 Year 3 $1,775,000 $591,667 $0 5.50%

    For 2022, First Federal Savings Bank's most frequently cited loan duration was 30 Year, with 241 originations. The 2nd most popular length was 15 Year, with 100 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 360 $64,100,000 $178,056
    $1k-2k 9 $1,105,000 $122,778
    $2k-3k 7 $1,175,000 $167,857
    $5k+ 4 $3,100,000 $775,000
    $3k-4k 1 $635,000 $635,000
    $4k-5k 1 $395,000 $395,000

    First Federal Savings Bank's average total fees were $2,162, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 360 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 131 $24,135,000 $184,237
    4-5% 124 $29,980,000 $241,774
    3-4% 62 $12,420,000 $200,323
    6-7% 57 $9,015,000 $158,158
    7-8% 46 $3,340,000 $72,609
    Over 8% 9 $565,000 $62,778
    2.5-3% 9 $1,795,000 $199,444
    <2.5% 1 $595,000 $595,000

    During 2022, First Federal Savings Bank's average interest rate for loans was 5.31%, while their most frequently originated rate bucket for loans was 5-6%, with 131 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 161 $8,665,000 $53,820 $774 5.83%
    $100k-200k 155 $22,525,000 $145,323 $1,831 5.19%
    $200k-400k 78 $22,030,000 $282,436 $2,613 5.06%
    $400k-600k 28 $13,160,000 $470,000 $3,500 4.88%
    $600k-1MM 12 $8,490,000 $707,500 $4,845 4.57%
    $1MM+ 5 $6,975,000 $1,395,000 $8,024 4.95%

    2022 saw First Federal Savings Bank place emphasis on $100,000 or less loans with 161 originations, totaling $8,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 104 $12,130,000 $116,635 $1,442 5.52%
    $50k or less 100 $8,290,000 $82,900 $1,326 5.49%
    $100k-150k 67 $14,735,000 $219,925 $1,887 5.20%
    $75k-100k 66 $10,470,000 $158,636 $1,979 5.53%
    $150k-250k 44 $14,690,000 $333,864 $2,941 5.24%
    $250k+ 33 $13,065,000 $395,909 $3,703 4.56%

    First Federal Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 104 originations. The second most popular income band? $50k or less, with 100 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 124 $24,880,000 $200,645 $1,914 5.16%
    30-36% 88 $13,760,000 $156,364 $1,752 5.78%
    <20% 46 $7,260,000 $157,826 $1,855 4.70%
    38% 21 $4,275,000 $203,571 $2,422 5.20%
    41% 19 $2,605,000 $137,105 $1,515 5.68%
    40% 19 $2,535,000 $133,421 $1,487 5.18%
    36% 16 $2,500,000 $156,250 $1,407 5.61%
    39% 13 $1,725,000 $132,692 $1,592 5.39%
    37% 13 $2,855,000 $219,615 $2,527 5.59%
    42% 10 $1,220,000 $122,000 $1,152 6.23%
    >60% 8 $2,260,000 $282,500 $1,837 5.36%
    45% 7 $985,000 $140,714 $1,887 5.93%
    46% 7 $1,155,000 $165,000 $1,937 6.29%
    50-60% 6 $1,110,000 $185,000 $1,999 4.92%
    44% 6 $1,610,000 $268,333 $2,353 5.52%
    47% 5 $1,605,000 $321,000 $2,523 4.48%
    43% 5 $675,000 $135,000 $1,629 6.43%
    48% 4 $580,000 $145,000 $1,715 4.78%
    49% 2 $530,000 $265,000 $2,406 4.81%

    First Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 124 originations. The next most common DTI ratio? 30-36%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 399 $70,385,000 $176,404 $1,865 5.36%
    Not applicable 16 $6,980,000 $436,250 $0 5.48%
    Asian 7 $1,785,000 $255,000 $2,067 4.38%
    Asian Indian 3 $1,515,000 $505,000 $3,111 3.67%
    Black 12 $1,050,000 $87,500 $717 6.39%
    American Indian 1 $85,000 $85,000 $2,564 6.38%
    Not provided 1 $45,000 $45,000 $199 3.38%

    Approval Rates

    Total approvals of all applications
    96.87%

    First Federal Savings Bank 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
    89.07%

    First Federal Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 439 $81,845,000 $186,435

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    439 $81,845,000 $186,435

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $2,780,000 $73,158 $570 5.83%
    40-60% 52 $7,760,000 $149,231 $1,446 5.23%
    60-80% 117 $24,475,000 $209,188 $2,355 5.11%
    80-100% 186 $45,290,000 $243,495 $2,460 5.14%
    Under 20% 46 $1,540,000 $33,478 $134 6.67%

    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%