Firestone Mortgage Rates, Fees & Info

Akron, OH

LEI: 549300N4Y8SZTX37AW62

Tax ID: 34-0894610

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    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 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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    Originations

    22

    Origination Dollar Volume (All Markets)

    $3,350,000

    Awards

    FIRESTONE 30 Year Conventional Loans gold FIRESTONE 30 Year Conventional Loans gold FIRESTONE 30 Year Conventional Loans gold FIRESTONE 30 Year Conventional Loans gold
    Show all (4) 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
    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%
    Firestone's top markets include Akron, Cleveland, and Canton among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)

    • 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.

    FIRESTONE
    Similarity Rank: 9
    The Middlefield Banking Company
    Similarity Rank: 350
    Seven Seventeen Credit Union
    Similarity Rank: 442
    Civista Bank
    Similarity Rank: 1007
    American Midwest Mortgage Corporation
    Similarity Rank: 1092
    PULTE MORTGAGE LLC
    Similarity Rank: 1349
    WEST PENN FINANCIAL SERVICE CENTER, INC.
    Similarity Rank: 1368
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C.
    Similarity Rank: 1700
    UNION CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 1909
    Independent Bank
    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 9 $1,305,000 $145,000 $3,113 5.67%
    Refi 6 $1,070,000 $178,333 $1,134 5.63%
    Cash Out Refi 6 $850,000 $141,667 $1,603 5.44%
    NA 1 $125,000 $125,000 $0 7.00%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 12 $2,240,000 $186,667 $2,693 5.69%
    10 Year 4 $460,000 $115,000 $1,173 5.50%
    15 Year 3 $395,000 $131,667 $1,490 5.47%
    20 Year 2 $130,000 $65,000 $1,480 5.43%
    Other 1 $125,000 $125,000 $0 7.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 10 $1,480,000 $148,000 $2,351 5.72%
    $100,000 or less 7 $415,000 $59,286 $1,442 5.56%
    $200k-400k 4 $950,000 $237,500 $3,049 5.66%
    $400k-600k 1 $505,000 $505,000 $992 5.75%

    2023 saw Firestone place emphasis on $100k-200k loans with 10 originations, totaling $1,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 7 $1,025,000 $146,429 $1,953 5.56%
    $75k-100k 6 $710,000 $118,333 $2,308 5.76%
    $100k-150k 4 $590,000 $147,500 $1,539 5.70%
    $50k or less 4 $520,000 $130,000 $3,020 5.61%
    $150k-250k 1 $505,000 $505,000 $992 5.75%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 7 $845,000 $120,714 $1,774 5.46%
    30-36% 5 $1,085,000 $217,000 $2,644 5.55%
    37% 1 $265,000 $265,000 $1,816 5.70%
    40% 1 $175,000 $175,000 $1,532 5.35%
    42% 1 $35,000 $35,000 $992 6.75%
    44% 1 $125,000 $125,000 $0 7.00%
    45% 1 $75,000 $75,000 $1,514 5.10%
    46% 1 $185,000 $185,000 $4,276 5.95%
    48% 1 $165,000 $165,000 $1,496 5.75%
    <20% 1 $125,000 $125,000 $2,653 5.50%
    50-60% 1 $145,000 $145,000 $1,424 5.95%
    36% 1 $125,000 $125,000 $3,104 5.50%

    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 applications
    85.00%

    Firestone has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.82%

    Firestone has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 22 $3,350,000 $152,273

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    22 $3,350,000 $152,273

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $245,000 $81,667 $1,409 5.03%
    40-60% 3 $375,000 $125,000 $2,186 5.45%
    60-80% 6 $1,200,000 $200,000 $1,568 5.58%
    80-100% 7 $1,245,000 $177,857 $2,971 5.94%
    Under 20% 2 $70,000 $35,000 $1,006 6.03%