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

Tipp City, OH

LEI: 254900P3FG3HDU6NKK74

Tax ID: 31-0381740

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Mortgage Data

Review & Overview

Monroe Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase and Refi loans. Monroe Federal Savings And Loan Association has a high proportion of conventional loans. Their top (well, only) market is Dayton.

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

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Originations

40

Origination Dollar Volume (All Markets)

$6,140,000

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
DAYTON-KETTERING, OH (FHA|USDA|VA) 39 $6,035,000 $154,744 $0 0.00%
Outside of Metro Areas 1 $105,000 $105,000 $0 0.00%
Monroe Federal Savings And Loan Association's top markets include and Dayton among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $6,140,000 $153,500 $0 0.00%

    For 2019, Monroe Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $4,450,000 $202,273 $0 0.00%
    Refi 13 $1,455,000 $111,923 $0 0.00%
    Other 3 $135,000 $45,000 $0 0.00%
    Home Improvement 2 $100,000 $50,000 $0 0.00%

    For 2019, Monroe Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 40 $6,140,000 $153,500 $0 0.00%

    For 2019, Monroe Federal Savings And Loan Association's most frequently cited loan duration was Other, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $1,070,000 $59,444 $0 0.00%
    $200k-400k 11 $3,245,000 $295,000 $0 0.00%
    $100k-200k 10 $1,390,000 $139,000 $0 0.00%
    $400k-600k 1 $435,000 $435,000 $0 0.00%

    2019 saw Monroe Federal Savings And Loan Association place emphasis on $100,000 or less loans with 18 originations, totaling $1,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 7 $1,545,000 $220,714 $0 0.00%
    $75k-100k 6 $820,000 $136,667 $0 0.00%
    $100k-150k 5 $1,065,000 $213,000 $0 0.00%
    $50k-75k 5 $515,000 $103,000 $0 0.00%
    $50k or less 5 $195,000 $39,000 $0 0.00%

    Monroe Federal Savings And Loan Association lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 40 $6,140,000 $153,500 $0 0.00%

    Monroe Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 36 $5,510,000 $153,056 $0 0.00%
    Not applicable 4 $630,000 $157,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.92%

    Monroe Federal Savings And Loan Association has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    85.00%

    Monroe Federal Savings And Loan Association has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 40 $6,140,000 $153,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $325,000 $325,000
    Single Family (1-4 Units):Site-Built 39 $5,815,000 $149,103