Central Federal Savings And Loan Association Mortgage Rates, Fees & Info

Cicero, IL

LEI: 21380054U5NKZKBQ4128

Tax ID: 36-0882755

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Central Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Central Federal Savings And Loan Association has a high proportion of conventional loans. Their top two markets are Chicago and Rockford .

    Central Federal Savings And Loan Association has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

    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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    Originations

    86

    Origination Dollar Volume (All Markets)

    $17,040,000

    Employee count

    51

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 85 $16,935,000 $199,235 $0 0.00%
    ROCKFORD, IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Central Federal Savings And Loan Association's top markets include Chicago and Rockford among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $17,040,000 $198,140 $0 0.00%

    For 2018, Central Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $5,690,000 $177,813 $0 0.00%
    Cash Out Refi 30 $4,630,000 $154,333 $0 0.00%
    Refi 19 $6,165,000 $324,474 $0 0.00%
    Home Improvement 3 $305,000 $101,667 $0 0.00%
    Other 2 $250,000 $125,000 $0 0.00%

    For 2018, Central Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 86 $17,040,000 $198,140 $0 0.00%

    For 2018, Central Federal Savings And Loan Association's most frequently cited loan duration was Other, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 48 $6,940,000 $144,583 $0 0.00%
    $200k-400k 23 $5,805,000 $252,391 $0 0.00%
    $100,000 or less 11 $905,000 $82,273 $0 0.00%
    $400k-600k 2 $990,000 $495,000 $0 0.00%
    $1MM+ 1 $1,755,000 $1,755,000 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2018 saw Central Federal Savings And Loan Association place emphasis on $100k-200k loans with 48 originations, totaling $6,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 24 $3,800,000 $158,333 $0 0.00%
    $50k or less 21 $2,785,000 $132,619 $0 0.00%
    $75k-100k 15 $2,415,000 $161,000 $0 0.00%
    $100k-150k 13 $2,675,000 $205,769 $0 0.00%
    $150k-250k 6 $1,640,000 $273,333 $0 0.00%
    $250k+ 2 $2,310,000 $1,155,000 $0 0.00%

    Central Federal Savings And Loan Association lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $50k or less, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 86 $17,040,000 $198,140 $0 0.00%

    Central Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $14,090,000 $195,694 $0 0.00%
    Not provided 12 $2,300,000 $191,667 $0 0.00%
    Asian 1 $555,000 $555,000 $0 0.00%
    Black 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.51%

    Central Federal Savings And Loan Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.86%

    Central Federal Savings And Loan Association has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 86 $17,040,000 $198,140

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $2,215,000 $316,429
    Single Family (1-4 Units):Site-Built 79 $14,825,000 $187,658

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CENTRAL BANC MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Central Federal Savings and Loan Association 1921 E 31st St. La Grange Park, IL 60526 Full Service B&M $27,673
    Central Federal Savings and Loan Association 5953 W Cermak Road Cicero, IL 60804 Full Service B&M $64,793
    Central Federal Savings and Loan Association 6940 West Ogden Avenue Berwyn, IL 60402 Full Service B&M $55,858

    For 2018, Central Federal Savings And Loan Association had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,074
    Net interest income $4,799
    Total noninterest income $236
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $68
    Trading account gains and fees $0
    Additional Noninterest Income $168
    Pre-tax net operating income $633
    Securities gains (or losses, -) $-6
    Income before extraordinary items $1,478
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,478
    Minority interest net income $0
    Net income $1,478
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,484

    Central Federal Savings And Loan Association's gross interest income from loans was $6,074,000.
    Central Federal Savings And Loan Association's net interest income from loans was $4,799,000.
    Central Federal Savings And Loan Association's fee based income from loans was $68,000.
    Central Federal Savings And Loan Association's net income from loans was $1,478,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,275
    Provision for credit losses $-200
    Total noninterest expense $4,602
    Salaries and employee benefits $2,729
    Premises and equipment expense $635
    Additional noninterest expense $1,238
    Applicable income taxes $-851
    Net charge-offs $53
    Cash dividends $0

    Central Federal Savings And Loan Association's interest expense for loans was $1,275,000.
    Central Federal Savings And Loan Association's payroll and benefits expense were $2,729,000.
    Central Federal Savings And Loan Association's property, plant and equipment expenses $635,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 0.0%
    HELOC loans 13.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $149,173
    Deposits held in domestic offices $149,173
    Deposits by Individuals, partnerships, and corporations $149,172
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $16,605
    Demand deposits $4,626
    Nontransaction accounts $132,567
    Money market deposit accounts (MMDAs) $12,698
    Other savings deposits (excluding MMDAs) $41,259
    Total time deposits $78,609
    Total time and savings deposits $144,546
    Noninterest-bearing deposits $4,626
    Interest-bearing deposits $144,547
    Retail deposits $145,780
    IRAs and Keogh plan accounts $13,536
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $177,364
    Cash & Balances due from depository institutions $36,053
    Interest-bearing balances $34,985
    Total securities $22,560
    Federal funds sold & reverse repurchase $0
    Net loans and leases $110,484
    Loan and leases loss allowance $1,080
    Trading account assets $0
    Bank premises and fixed assets $5,138
    Other real estate owned $182
    Goodwill and other intangibles $13
    All other assets $2,934

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $177,364
    Total Liabilities $158,801
    Total deposits $149,173
    Interest-bearing deposits $144,547
    Deposits held in domestic offices $149,173
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $9,000
    Subordinated debt $0
    All other liabilities $628

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $110,484
    Loan and leases loss allowance $1,080
    Total loans and leases (domestic) $111,564
    All real estate loans $111,504
    Real estate loans in domestic offices $111,504
    Construction and development loans $0
    Residential 1-4 family construction $0
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $2,076
    Nonfarm nonresidential secured by owner-occupied properties $1,005
    Commercial real estate & other non-farm, non-residential $1,071
    Multifamily residential real estate $10,565
    1-4 family residential loans $98,863
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $59
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $59
    All other loans & leases $2
    Loans to foreign governments and official institutions $0
    Other loans $2
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,618
    Non 1-4 family restructured loans & leases $1,808
    Total loans and leases (foreign) $0

    Central Federal Savings and Loan Association had $110,484,000 of loans outstanding in 2018. $111,504,000 of loans were in real estate loans. $0 of loans were in development loans. $10,565,000 of loans were in multifamily mortgage loans. $98,863,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 13 $2,076 $159,692
    Nonfarm, nonresidential loans - <$100k 2 $118 $59,000
    Nonfarm, nonresidential loans - $100-250k 5 $697 $139,400
    Nonfarm, nonresidential loans - $250k-1MM 6 $1,261 $210,167