First Federal Bank A Fsb Mortgage Rates, Fees & Info

Tuscaloosa, AL

LEI: 549300ROGHTFGYNKE773

Tax ID: 63-0414306

5 stars - Updated: 6/9/24 - out of 5 stars, based on 35 reviews

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

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Mortgage Data

Review & Overview

First Federal Bank A Fsb is a smaller bank specializing in Home Purchase loans. First Federal Bank A Fsb has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Tuscaloosa, Birmingham, Daphne, Mobile, and Gadsden among others. We have data for 41 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Federal Bank A Fsb 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 Bank A Fsb is typically an average 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 6.59% 6/9/24
30 Year Conventional Refi 6.46% 6/9/24
30 Year Cash-out Refi 6.70% 6/9/24
30 Year FHA Purchase 7.38% 6/9/24
30 Year FHA Refi 7.22% 6/9/24
30 Year VA Purchase 6.29% 6/9/24
30 Year VA Refi 5.93% 6/9/24
30 Year USDA Purchase 6.76% 6/9/24
15 Year Conventional Purchase 6.21% 6/9/24
15 Year Conventional Refi 5.95% 6/9/24
15 Year Cash-out Refi 5.95% 6/9/24
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 A Fsb Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Federal Bank A Fsb. 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

1,213

Origination Dollar Volume (All Markets)

$296,945,000
Show all (12) awards

Relative Rate

First Federal Bank A Fsb's average 30 year fixed mortgage rate was 6.37%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.11%.

Relative Fees (Closing Costs)

First Federal Bank A Fsb's average total fees/closing costs for a 30 year fixed rate mortgage were $7,678.

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
TUSCALOOSA, AL (FHA|USDA|VA) 492 $128,410,000 $260,996 $7,254 6.47%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 194 $50,440,000 $260,000 $6,582 6.52%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 71 $21,825,000 $307,394 $6,815 6.37%
MOBILE, AL (FHA|USDA|VA) 89 $17,615,000 $197,921 $6,741 6.48%
GADSDEN, AL (FHA|USDA|VA) 94 $16,400,000 $174,468 $6,658 6.46%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 63 $14,225,000 $225,794 $6,884 6.35%
Outside of Metro Areas 40 $7,400,000 $185,000 $6,971 6.42%
HUNTSVILLE, AL (FHA|USDA|VA) 29 $7,245,000 $249,828 $6,582 6.34%
Cullman, AL (FHA|USDA|VA) 35 $7,225,000 $206,429 $7,043 6.68%
Albertville, AL (FHA|USDA|VA) 14 $3,240,000 $231,429 $8,221 6.30%
DECATUR, AL (FHA|USDA|VA) 17 $2,895,000 $170,294 $5,427 6.55%
Fort Payne, AL (FHA|USDA|VA) 15 $2,805,000 $187,000 $7,364 6.41%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 12 $2,470,000 $205,833 $6,856 6.30%
Talladega-Sylacauga, AL (FHA|USDA|VA) 8 $1,880,000 $235,000 $56,388 6.42%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $1,545,000 $309,000 $8,294 6.48%
GAINESVILLE, FL (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $7,257 6.50%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 3 $1,065,000 $355,000 $7,188 5.88%
MONTGOMERY, AL (FHA|USDA|VA) 6 $960,000 $160,000 $3,578 7.44%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $790,000 $395,000 $7,694 7.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $675,000 $675,000 $33,558 6.75%
Statesboro, GA (FHA|USDA|VA) 1 $635,000 $635,000 $15,454 6.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $485,000 $485,000 $8,737 5.50%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $425,000 $425,000 $7,073 5.88%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $425,000 $425,000 $14,979 6.25%
Corinth, MS (FHA|USDA|VA) 2 $420,000 $210,000 $9,135 5.69%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $415,000 $415,000 $6,258 5.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $405,000 $405,000 $6,846 5.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $365,000 $365,000 $8,917 6.38%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $325,000 $325,000 $6,829 6.13%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $325,000 $325,000 $7,018 6.38%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $295,000 $295,000 $8,277 6.00%
HATTIESBURG, MS (FHA|USDA|VA) 1 $285,000 $285,000 $10,622 6.63%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $285,000 $285,000 $6,366 6.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $275,000 $275,000 $6,196 6.88%
Starkville, MS (FHA|USDA|VA) 1 $275,000 $275,000 $11,754 5.75%
COLUMBIA, SC (FHA|USDA|VA) 1 $225,000 $225,000 $5,874 6.38%
Palatka, FL (FHA|USDA|VA) 1 $225,000 $225,000 $9,372 6.13%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $225,000 $225,000 $5,453 5.75%
HAMMOND, LA (FHA|USDA|VA) 1 $195,000 $195,000 $7,179 7.50%
Scottsboro, AL (FHA|USDA|VA) 1 $135,000 $135,000 $7,033 5.63%
Atmore, AL (FHA|USDA|VA) 1 $125,000 $125,000 $4,690 6.75%
First Federal Bank A Fsb's top markets include Tuscaloosa, Birmingham, Daphne, Mobile, and Gadsden among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 711 $176,135,000 $247,729 $5,938 6.67%
    FHA 388 $89,900,000 $231,701 $9,188 6.18%
    VA 79 $24,115,000 $305,253 $10,008 6.11%
    USDA 35 $6,795,000 $194,143 $8,056 6.06%

    For 2023, First Federal Bank A Fsb's most frequently originated type of loan was Conventional, with 711 originations. Their 2nd most popular type was FHA, with 388 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,135 $283,195,000 $249,511 $7,515 6.39%
    Refi 32 $7,520,000 $235,000 $5,444 6.93%
    Cash Out Refi 25 $4,375,000 $175,000 $6,118 7.00%
    Other 21 $1,855,000 $88,333 $1,850 9.10%

    For 2023, First Federal Bank A Fsb's most frequently cited loan purpose was Home Purchase, with 1,135 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,113 $288,015,000 $258,774 $7,678 6.37%
    10 Year 47 $495,000 $10,532 $250 6.90%
    15 Year 44 $4,910,000 $111,591 $2,631 8.24%
    20 Year 4 $740,000 $185,000 $5,930 6.00%
    30+ year 4 $2,410,000 $602,500 $6,910 7.09%
    Other 1 $375,000 $375,000 $4,086 2.50%

    For 2023, First Federal Bank A Fsb's most frequently cited loan duration was 30 Year, with 1,113 originations. The 2nd most popular length was 10 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 342 $81,920,000 $239,532
    $2k-3k 273 $44,525,000 $163,095
    $4k-5k 195 $61,465,000 $315,205
    $1k-2k 161 $34,335,000 $213,261
    $5k+ 148 $66,240,000 $447,568
    $<1k 91 $8,125,000 $89,286

    First Federal Bank A Fsb's average total fees were $7,678, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 342 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 603 $152,535,000 $252,960
    5-6% 406 $102,980,000 $253,645
    7-8% 143 $30,965,000 $216,538
    Over 8% 54 $8,290,000 $153,519
    4-5% 6 $1,800,000 $300,000
    <2.5% 1 $375,000 $375,000

    During 2023, First Federal Bank A Fsb's average interest rate for loans was 6.37%, while their most frequently originated rate bucket for loans was 6-7%, with 603 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 622 $170,910,000 $274,775 $7,777 6.34%
    $100k-200k 355 $55,815,000 $157,225 $6,740 6.46%
    $100,000 or less 114 $4,860,000 $42,632 $3,186 7.13%
    $400k-600k 96 $45,230,000 $471,146 $9,172 6.47%
    $600k-1MM 22 $15,360,000 $698,182 $12,751 6.52%
    $1MM+ 4 $4,770,000 $1,192,500 $10,535 6.38%

    2023 saw First Federal Bank A Fsb place emphasis on $200k-400k loans with 622 originations, totaling $170,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 309 $60,465,000 $195,680 $6,904 6.37%
    $100k-150k 263 $71,705,000 $272,643 $8,843 6.49%
    $75k-100k 247 $53,015,000 $214,636 $7,191 6.49%
    $150k-250k 176 $56,330,000 $320,057 $6,988 6.56%
    $50k or less 126 $18,080,000 $143,492 $6,038 6.27%
    $250k+ 92 $37,350,000 $405,978 $7,140 6.69%

    First Federal Bank A Fsb lent most frequently to those with incomes in the $50k-75k range, with 309 originations. The second most popular income band? $100k-150k, with 263 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 241 $57,805,000 $239,855 $6,531 6.45%
    20-30% 184 $45,790,000 $248,859 $6,141 6.38%
    50-60% 102 $26,480,000 $259,608 $9,777 6.19%
    42% 76 $18,110,000 $238,289 $7,057 6.67%
    <20% 74 $17,540,000 $237,027 $11,341 6.45%
    41% 65 $14,585,000 $224,385 $5,862 6.57%
    40% 54 $13,000,000 $240,741 $6,982 6.69%
    38% 48 $12,260,000 $255,417 $5,909 6.67%
    43% 44 $9,190,000 $208,864 $6,483 6.60%
    49% 42 $10,820,000 $257,619 $8,220 6.33%
    39% 40 $9,070,000 $226,750 $8,158 6.70%
    44% 40 $9,510,000 $237,750 $7,213 6.63%
    36% 39 $10,145,000 $260,128 $6,576 6.52%
    37% 38 $10,370,000 $272,895 $6,781 6.53%
    45% 35 $8,865,000 $253,286 $8,221 6.40%
    47% 34 $8,350,000 $245,588 $7,628 6.11%
    48% 34 $9,820,000 $288,824 $8,505 6.35%
    46% 23 $5,235,000 $227,609 $7,111 6.33%

    First Federal Bank A Fsb lent most frequently to those with DTI ratios of 30-36%, with 241 originations. The next most common DTI ratio? 20-30%, with 184 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 942 $233,630,000 $248,015 $7,360 6.48%
    Black 133 $27,965,000 $210,263 $7,822 6.37%
    Not provided 101 $23,795,000 $235,594 $6,327 6.43%
    Asian 23 $7,865,000 $341,957 $7,335 6.36%
    American Indian 6 $1,810,000 $301,667 $7,258 6.04%
    Asian Indian 3 $655,000 $218,333 $6,125 6.33%
    Native Hawaiian or Islander 2 $500,000 $250,000 $9,960 6.06%
    Other Asian 1 $255,000 $255,000 $10,394 7.13%
    Filipino 1 $245,000 $245,000 $10,561 6.13%
    Vietnamese 1 $225,000 $225,000 $9,588 5.50%

    Approval Rates

    Total approvals of all applications
    96.31%

    First Federal Bank A Fsb 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
    63.40%

    First Federal Bank A Fsb has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,213 $296,945,000 $244,802

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,213 $296,945,000 $244,802

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $7,115,000 $151,383 $12,155 7.17%
    40-60% 74 $17,130,000 $231,486 $5,139 6.30%
    60-80% 234 $62,060,000 $265,214 $6,050 6.47%
    80-100% 765 $201,065,000 $262,830 $7,751 6.35%
    Over 100% 23 $7,935,000 $345,000 $16,698 5.98%
    Under 20% 70 $1,640,000 $23,429 $901 7.46%