Firestone Mortgage Rates, Fees & Info
Akron, OHLEI: 549300N4Y8SZTX37AW62
Tax ID: 34-0894610
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Mortgage Data
Review & Overview
Firestone is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Firestone has a high proportion of conventional loans. Their top markets by origination volume include: Akron, Cleveland, and Canton among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Firestone 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. Firestone 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 4.98% | 11/11/24 |
| 30 Year Conventional Refi | 6.27% | 11/11/24 |
| 30 Year Cash-out Refi | 5.37% | 11/11/24 |
| 15 Year Conventional Purchase | 6.27% | 11/11/24 |
| 15 Year Conventional Refi | 4.19% | 11/11/24 |
| 15 Year Cash-out Refi | 4.19% | 11/11/24 |
| 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. | ||
Firestone Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
22Origination Dollar Volume (All Markets)
$3,350,000Awards
FIRESTONE - 2023
FIRESTONE is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Firestone's average 30 year fixed mortgage rate was
5.69%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.79%.
Relative Fees (Closing Costs)
Firestone's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,693.
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 |
|---|---|---|---|---|---|
| AKRON, OH (FHA|USDA|VA) | 17 | $2,445,000 | $143,824 | $2,330 | 5.63% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $1,208 | 5.85% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $1,205 | 5.70% |
Similar Lenders
We use machine learning to identify the top lenders compared against FIRESTONE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 9
Similarity Rank: 350
Similarity Rank: 442
Similarity Rank: 1007
Similarity Rank: 1092
Similarity Rank: 1349
Similarity Rank: 1368
Similarity Rank: 1700
Similarity Rank: 1909
Similarity Rank: 1938
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $3,225,000 | $153,571 | $2,116 | 5.60% |
| HELOC | 1 | $125,000 | $125,000 | n/a | 7.00% |
For 2023, Firestone's most frequently originated type of loan was Conventional, with 21 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2023, Firestone's most frequently cited loan purpose was Home Purchase, with 9 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
For 2023, Firestone's most frequently cited loan duration was 30 Year, with 12 originations. The 2nd most popular length was 10 Year, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 18 | $3,020,000 | $167,778 |
| 4-5% | 2 | $170,000 | $85,000 |
| 6-7% | 2 | $160,000 | $80,000 |
During 2023, Firestone's average interest rate for loans was 5.69%, while their most frequently originated rate bucket for loans was 5-6%, with 18 originations.
Loan Sizing
2023 saw Firestone place emphasis on $100k-200k loans with 10 originations, totaling $1,480,000 in origination value.
Applicant Income
Firestone lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $75k-100k, with 6 originations.
Applicant Debt to Income Ratio
Firestone lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 21 | $3,225,000 | $153,571 | $2,089 | 5.67% |
| Black | 1 | $125,000 | $125,000 | $2,653 | 5.50% |
Approval Rates
Total approvals of all applications85.00%
Firestone has a below average approval rate.
Pick Rate
Approvals leading to origination81.82%
Firestone has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 22 | $3,350,000 | $152,273 |