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 Refi, Cash Out Refi, and Home Purchase loans. Firestone has a high proportion of conventional loans. Their top markets by origination volume include: Akron, Nashville, Cleveland, Canton, and Columbus among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Firestone has an above average approval rate when compared to the average across all 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 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 |
|---|---|---|
| 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
43Origination Dollar Volume (All Markets)
$5,405,000Awards
FIRESTONE - 2019
FIRESTONE is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| AKRON, OH (FHA|USDA|VA) | 29 | $2,795,000 | $96,379 | $1,592 | 3.95% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $2,295 | 3.96% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $2,518 | 4.12% |
| Outside of Metro Areas | 1 | $355,000 | $355,000 | $2,363 | 4.40% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $1,394 | 3.67% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,706 | 4.40% |
| Ashland, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,770 | 4.49% |
| Wooster, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,247 | 4.40% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 42 | $5,360,000 | $127,619 | $1,805 | 3.96% |
| HELOC | 1 | $45,000 | $45,000 | n/a | 5.00% |
For 2019, Firestone's most frequently originated type of loan was Conventional, with 42 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2019, Firestone's most frequently cited loan purpose was Refi, with 16 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.
Loan Duration/Length
For 2019, Firestone's most frequently cited loan duration was 30 Year, with 14 originations. The 2nd most popular length was 10 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 42 | $5,360,000 | $127,619 |
Firestone's average total fees were $2,424, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 27 | $3,015,000 | $111,667 |
| 4-5% | 16 | $2,390,000 | $149,375 |
During 2019, Firestone's average interest rate for loans was 4.45%, while their most frequently originated rate bucket for loans was 3-4%, with 27 originations.
Loan Sizing
2019 saw Firestone place emphasis on $100,000 or less loans with 22 originations, totaling $1,330,000 in origination value.
Applicant Income
Firestone lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
Firestone lent most frequently to those with DTI ratios of 30-36%, with 11 originations. The next most common DTI ratio? 20-30%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Firestone has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 43 | $5,405,000 | $125,698 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 43 | $5,405,000 | $125,698 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRSTBANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 100.0% |