Is Ozarks Federal Savings and Loan a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Ozarks Federal Savings and Loan to those of other lenders for a comparable set of borrowers. Here is our review of Ozarks Federal Savings and Loan nationally:
| Review Item | Ozarks Federal Savings and Loan |
|---|---|
| Interest Rate | similar to other lenders (-0.10%) |
| Loan Related Closing Costs | lower than other lenders (-$315) |
| National Rate and Closing Cost Star Rating | (4) |
On average, Ozarks Federal Savings and Loan’s interest rates were similar to those of other lenders (-0.10%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$315. Overall, combining interest rates and closing costs we estimate that Ozarks Federal Savings and Loan 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 Ozarks Federal Savings and Loan, check out its website at: https://ozarksfederal.com.
Ozarks Federal Savings and Loan’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 Ozarks Federal Savings and Loan was most active in:
In addition, Ozarks Federal Savings and Loan is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Farmington, MO, overall
Ozarks Federal Savings and Loan’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, Ozarks Federal Savings and Loan originated Conforming 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 |
|---|---|
| Interest Rate Difference | -0.04% |
| Loan Related Closing Cost Difference | -$264 |
| Cost Adjusted Rate Difference | -0.08% |
| National Star Rating |
| Refinance Mortgages | Conforming |
|---|---|
| Interest Rate Difference | -0.13% |
| Loan Related Closing Cost Difference | -$339 |
| Cost Adjusted Rate Difference | -0.17% |
| Average Star Rating |
As a summary, Ozarks Federal Savings and Loan is cheap for Conforming purchase mortgages. For refinancing, Ozarks Federal Savings and Loan is cheap for Conforming 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 Ozarks Federal Savings and Loan:
Registered city and state: Farmington, MO, 63640
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 Ozarks Federal Savings and Loan’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.