Mortgage lender · Sheridan, WY · LEI 254900UFC85SQD8XYU52

First Federal Bank & Trust review: approval odds, rates and grade (2025)

First Federal Bank & Trust earns a B, better than most small mortgage lenders. It turned down 5.0% of the applications it decided on in 2025, which ranks in the 73rd percentile for approval odds. Compared against 1,883 small mortgage lenders using 2025 HMDA filings.

234Applications2025
80.3%Originatedof applications
5.0%Decision denial ratenational 22.6%
7.00%Median ratenational 6.63%
$67MLoan volume9 states

First Federal Bank & Trust at a glance, 2025

Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.

4.3%Denial rate (all applications)-13.71 pts vs national
5.0%Denial rate (decided applications)-17.56 pts vs national
80.3%Origination rate+22.31 pts vs national
15.0%Withdrawn by applicant
0.0%Closed for incompleteness
7.00%Median interest rate+0.38 pts vs national
Median rate spread (pts over APOR)
$295,000Median loan amount
Median total loan costs
$120kMedian applicant income
59%Median loan-to-value
0High-cost (HOEPA) loans

How the B grade breaks down

Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.

Approval oddsdecision denial rate, weight 45%

73rd5.0% denied

Processwithdrawn + incomplete share, weight 15%

35th15.0%

Trend, 2023–2025

YearApplicationsOriginatedDenial rateDecision denialMedian rateVolume
20232692134.5%5.2%6.50%$65M
20252341884.3%5.0%7.00%$67M

What First Federal Bank & Trust lends

Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.

By loan purpose

Home purchase 169 72% · 1.8% denied
Refinance 18 8% · 5.6% denied
Cash-out refinance 26 11% · 11.5% denied
Home improvement 9 4% · 11.1% denied
Other / HELOC 12 5% · 16.7% denied

By loan type

Conventional 211 90% · 3.8% denied
FHA 14 6% · 7.1% denied
VA 9 4% · 11.1% denied

Also: 0 home-equity lines, 0 reverse mortgages, 4 manufactured homes, 42 investment properties.

Who gets approved at First Federal Bank & Trust

Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.

Applicant incomeApplicationsOriginatedDecision denial rate
$50k – $100k60458.2%
$100k – $150k55495.8%
$150k – $250k47370.0%
Over $250k26230.0%
Applicant ageApplicationsOriginatedDecision denial rate
25–3454482.0%
35–4467523.7%
45–54383011.4%
55–6431244.0%

Where First Federal Bank & Trust lends

9 states and 24 counties in 2025. Click a state for the lender's full record there.

StateApplicationsOriginatedDenial rateMedian rateRank in state
Wyoming1351034.4%7.00%#46
Montana90793.3%#68

Frequently asked questions

First Federal Bank & Trust denied 5.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 73rd percentile of small mortgage lenders.

The median interest rate on loans First Federal Bank & Trust originated in 2025 was 7.00%, and its median rate spread over the average prime offer rate was 0.00 points. Rates on this page are what borrowers actually got, not advertised rates.

In 2025, 72% of its applications were for home purchases, 19% for refinancing (including cash-out), and 9% for home improvement or other purposes. By loan type: 90% conventional, 6% FHA, 4% VA.

Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.

About this data. HMDA data is published once a year by the CFPB. The current release covers applications acted on in calendar year 2025. Figures describe applications the lender acted on, including loans it later sold. Interest rates and costs are medians on originated loans only; some depository institutions are exempt from reporting pricing fields, which is why a few cells read "—". MortgageGrades is not affiliated with First Federal Bank & Trust. Data sources · Methodology