First Federal Bank A Fsb Mortgage Rates, Fees & Info
Tuscaloosa, ALLEI: 549300ROGHTFGYNKE773
Tax ID: 63-0414306
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.59% | 4/25/24 |
| 30 Year Conventional Refi | 6.46% | 4/25/24 |
| 30 Year Cash-out Refi | 6.70% | 4/25/24 |
| 30 Year FHA Purchase | 7.38% | 4/25/24 |
| 30 Year FHA Refi | 7.22% | 4/25/24 |
| 30 Year VA Purchase | 6.29% | 4/25/24 |
| 30 Year VA Refi | 5.93% | 4/25/24 |
| 30 Year USDA Purchase | 6.76% | 4/25/24 |
| 15 Year Conventional Purchase | 6.21% | 4/25/24 |
| 15 Year Conventional Refi | 5.95% | 4/25/24 |
| 15 Year Cash-out Refi | 5.95% | 4/25/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,213Origination Dollar Volume (All Markets)
$296,945,000Awards
First Federal Bank A FSB - 2023
First Federal Bank A FSB is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Federal Bank A FSB 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
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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications96.31%
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 origination63.40%
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 |