Financial Federal Bank Mortgage Interest Rate and Cost Review

Is Financial Federal Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Financial Federal Bank to those of other lenders for a comparable set of borrowers. Here is our review of Financial Federal Bank nationally:

Review ItemFinancial Federal Bank
Interest Ratelower than other lenders (-0.11%)
Loan Related Closing Costslower than other lenders (-$415)
National Rate and Closing Cost Star Rating(4)

On average, Financial Federal Bank’s interest rates were lower than those of other lenders (-0.11%). Its loan related closing costs were also lower than those of other lenders, with a difference of -$415. Overall, combining interest rates and closing costs we estimate that Financial Federal Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Financial Federal Bank, check out its website at:

Financial Federal Bank’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 Financial Federal Bank was most active in:

  1. Memphis, TN
  2. Nashville, TN
  3. Searcy, AR
  4. Dallas, TX
  5. Atlanta, GA

Financial Federal Bank’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, Financial Federal Bank originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingFHAVA
Interest Rate Difference-0.12%-0.05%-0.01%
Loan Related Closing Cost Difference-$402-$68+$9
Cost Adjusted Rate Difference-0.15%-0.06%-0.01%
National Star Rating(4.5)(4)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.09%-0.02%+0.01%-0.01%
Loan Related Closing Cost Difference-$546-$31+$68-$43
Cost Adjusted Rate Difference-0.14%-0.02%+0.01%-0.01%
Average Star Rating(4)(3.5)(3.5)(3.5)

As a summary, Financial Federal Bank is cheap for Conforming and FHA purchase mortgages. It is similar to other lenders for VA purchase mortgages. For refinancing mortgages, Financial Federal Bank is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA, Jumbo and VA 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 Financial Federal Bank:

Registered name: Financial Federal Bank
Registered city and state: Memphis, TN, 38120
Regulator: Federal Reserve System (FRS)

* 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 Financial Federal Bank’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.