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

Cicero, IL

LEI: 21380054U5NKZKBQ4128

Tax ID: 36-0882755

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 Refi, Home Purchase, and Cash Out Refi loans. Central Federal Savings And Loan Association has a high proportion of conventional loans. Their top (well, only) market is Chicago.

    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

    100

    Origination Dollar Volume (All Markets)

    $23,760,000

    Employee count

    48

    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) 100 $23,760,000 $237,600 $0 0.00%
    Central Federal Savings And Loan Association's top markets include and Chicago among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $23,760,000 $237,600 $0 0.00%

    For 2021, Central Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 44 $8,900,000 $202,273 $0 0.00%
    Home Purchase 31 $8,235,000 $265,645 $0 0.00%
    Cash Out Refi 25 $6,625,000 $265,000 $0 0.00%

    For 2021, Central Federal Savings And Loan Association's most frequently cited loan purpose was Refi, with 44 originations. The 2nd most popular reason was Home Purchase, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 100 $23,760,000 $237,600 $0 0.00%

    For 2021, Central Federal Savings And Loan Association's most frequently cited loan duration was Other, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 41 $11,025,000 $268,902 $0 0.00%
    $100k-200k 40 $6,270,000 $156,750 $0 0.00%
    $100,000 or less 9 $665,000 $73,889 $0 0.00%
    $600k-1MM 6 $4,130,000 $688,333 $0 0.00%
    $400k-600k 4 $1,670,000 $417,500 $0 0.00%

    2021 saw Central Federal Savings And Loan Association place emphasis on $200k-400k loans with 41 originations, totaling $11,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 21 $4,145,000 $197,381 $0 0.00%
    $75k-100k 21 $4,245,000 $202,143 $0 0.00%
    $100k-150k 19 $4,415,000 $232,368 $0 0.00%
    $50k or less 13 $2,295,000 $176,538 $0 0.00%
    $150k-250k 8 $2,160,000 $270,000 $0 0.00%
    $250k+ 6 $2,790,000 $465,000 $0 0.00%

    Central Federal Savings And Loan Association lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $75k-100k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 100 $23,760,000 $237,600 $0 0.00%

    Central Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 100 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 86 $21,210,000 $246,628 $0 0.00%
    Not provided 10 $1,980,000 $198,000 $0 0.00%
    Asian 2 $350,000 $175,000 $0 0.00%
    Black 2 $220,000 $110,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.26%

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

    Pick Rate

    Approvals leading to origination
    92.00%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 100 $23,760,000 $237,600

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    100 $23,760,000 $237,600

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Central Mortgage Funding, LLC Conventional home 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 $36,088
    Central Federal Savings and Loan Association 5953 W Cermak Road Cicero, IL 60804 Full Service B&M $73,295
    Central Federal Savings and Loan Association 6940 West Ogden Avenue Berwyn, IL 60402 Full Service B&M $57,908

    For 2021, Central Federal Savings And Loan Association had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,501
    Net interest income $4,767
    Total noninterest income $207
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $48
    Trading account gains and fees $0
    Additional Noninterest Income $159
    Pre-tax net operating income $447
    Securities gains (or losses, -) $0
    Income before extraordinary items $306
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $306
    Minority interest net income $0
    Net income $306
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $306

    Central Federal Savings And Loan Association's gross interest income from loans was $5,501,000.
    Central Federal Savings And Loan Association's net interest income from loans was $4,767,000.
    Central Federal Savings And Loan Association's fee based income from loans was $48,000.
    Central Federal Savings And Loan Association's net income from loans was $306,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $734
    Provision for credit losses $-221
    Total noninterest expense $4,748
    Salaries and employee benefits $2,884
    Premises and equipment expense $764
    Additional noninterest expense $1,100
    Applicable income taxes $141
    Net charge-offs $-110
    Cash dividends $0

    Central Federal Savings And Loan Association's interest expense for loans was $734,000.
    Central Federal Savings And Loan Association's payroll and benefits expense were $2,884,000.
    Central Federal Savings And Loan Association's property, plant and equipment expenses $764,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    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 $167,749
    Deposits held in domestic offices $167,749
    Deposits by Individuals, partnerships, and corporations $167,749
    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 $25,577
    Demand deposits $16,325
    Nontransaction accounts $142,172
    Money market deposit accounts (MMDAs) $19,077
    Other savings deposits (excluding MMDAs) $54,204
    Total time deposits $68,890
    Total time and savings deposits $151,424
    Noninterest-bearing deposits $16,325
    Interest-bearing deposits $151,424
    Retail deposits $163,227
    IRAs and Keogh plan accounts $12,127
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $200,384
    Cash & Balances due from depository institutions $34,765
    Interest-bearing balances $33,641
    Total securities $50,476
    Federal funds sold & reverse repurchase $0
    Net loans and leases $107,851
    Loan and leases loss allowance $1,118
    Trading account assets $0
    Bank premises and fixed assets $4,671
    Other real estate owned $0
    Goodwill and other intangibles $50
    All other assets $2,571

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $200,384
    Total Liabilities $180,570
    Total deposits $167,749
    Interest-bearing deposits $151,424
    Deposits held in domestic offices $167,749
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $12,000
    Subordinated debt $0
    All other liabilities $821

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $107,851
    Loan and leases loss allowance $1,118
    Total loans and leases (domestic) $108,969
    All real estate loans $108,815
    Real estate loans in domestic offices $108,815
    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 $2,733
    Nonfarm nonresidential secured by owner-occupied properties $570
    Commercial real estate & other non-farm, non-residential $2,163
    Multifamily residential real estate $11,570
    1-4 family residential loans $94,512
    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 $130
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $130
    All other loans & leases $24
    Loans to foreign governments and official institutions $0
    Other loans $24
    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 $2,694
    Non 1-4 family restructured loans & leases $1,302
    Total loans and leases (foreign) $0

    Central Federal Savings and Loan Association had $107,851,000 of loans outstanding in 2021. $108,815,000 of loans were in real estate loans. $0 of loans were in development loans. $11,570,000 of loans were in multifamily mortgage loans. $94,512,000 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 16 $2,633 $164,563
    Nonfarm, nonresidential loans - <$100k 1 $60 $60,000
    Nonfarm, nonresidential loans - $100-250k 10 $1,576 $157,600
    Nonfarm, nonresidential loans - $250k-1MM 5 $997 $199,400