Is First Federal Savings and Loan Association of McMinnville a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by First Federal Savings and Loan Association of McMinnville to those of other lenders for a comparable set of borrowers. Here is our review of First Federal Savings and Loan Association of McMinnville nationally:
| Review Item | First Federal Savings and Loan Association of McMinnville |
|---|---|
| Interest Rate | similar to other lenders (-0.03%) |
| Loan Related Closing Costs | similar to other lenders (+$37) |
| National Rate and Closing Cost Star Rating | (3.5) |
On average, First Federal Savings and Loan Association of McMinnville’s interest rates were similar to those of other lenders (-0.03%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$37. Overall, combining interest rates and closing costs we estimate that First Federal Savings and Loan Association of McMinnville tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit First Federal Savings and Loan Association of McMinnville, check out its website at: https://www.firstfedweb.com.
First Federal Savings and Loan Association of McMinnville’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track First Federal Savings and Loan Association of McMinnville was most active in:
First Federal Savings and Loan Association of McMinnville’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, First Federal Savings and Loan Association of McMinnville originated Conforming and Jumbo mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
| New Purchase Mortgages | Conforming | Jumbo |
|---|---|---|
| Interest Rate Difference | -0.04% | +0.01% |
| Loan Related Closing Cost Difference | +$142 | +$89 |
| Cost Adjusted Rate Difference | -0.03% | +0.01% |
| National Star Rating |
| Refinance Mortgages | Conforming | Jumbo |
|---|---|---|
| Interest Rate Difference | -0.03% | +0.00% |
| Loan Related Closing Cost Difference | -$29 | +$43 |
| Cost Adjusted Rate Difference | -0.03% | +0.00% |
| Average Star Rating |
As a summary, First Federal Savings and Loan Association of McMinnville is similar to other lenders for Conforming and Jumbo purchase mortgages. For refinancing, First Federal Savings and Loan Association of McMinnville is similar to other lenders for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about First Federal Savings and Loan Association of McMinnville:
Registered city and state: McMinnville, OR, 97128
Regulator: Office of the Comptroller of the Currency (OCC)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for First Federal Savings and Loan Association of McMinnville’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.