Cincinnati Federal Mortgage Rates, Fees & Info

Cincinnati, OH

LEI: 5493003MAUCY3WMZY776

Tax ID: 31-0239867

5 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cincinnati Federal is a smaller mortgage company specializing in Home Purchase and Refi loans. Cincinnati Federal has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Cincinnati, Dayton, Lexington, North Port, and Tampa among others. Cincinnati Federal has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cincinnati Federal is typically a low fee lendor.


Originations

1,334

Origination Dollar Volume (All Markets)

$320,900,000

Employee count

78

Awards

Cincinnati Federal 30 Year Conventional Loans silver Cincinnati Federal 30 Year Conventional Loans bronze Cincinnati Federal FHA Loans bronze Cincinnati Federal USDA Loans gold
Show all (4) awards

Relative Rate

Cincinnati Federal's average 30 year fixed rate mortgage of loans were 3.05%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.1%.

Relative Fees

Cincinnati Federal's average total fees for a 30 year fixed rate mortgage are $3,040.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1,228 $292,580,000 $238,257 $2,694 2.97%
DAYTON-KETTERING, OH (FHA|USDA|VA) 40 $10,440,000 $261,000 $3,979 3.03%
Outside of Metro Areas 10 $1,710,000 $171,000 $4,234 3.19%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 5 $1,615,000 $323,000 $2,533 2.95%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,310,000 $327,500 $4,082 3.03%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $1,050,000 $525,000 $4,135 3.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $1,045,000 $348,333 $2,380 2.92%
COLUMBUS, OH (FHA|USDA|VA) 4 $1,020,000 $255,000 $2,234 2.91%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $860,000 $430,000 $5,339 3.06%
SPRINGFIELD, OH (FHA|USDA|VA) 2 $810,000 $405,000 $5,034 3.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $810,000 $405,000 $5,420 3.25%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 3 $675,000 $225,000 $4,199 3.08%
KNOXVILLE, TN (FHA|USDA|VA) 3 $625,000 $208,333 $2,811 3.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $545,000 $545,000 $5,524 3.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $545,000 $545,000 $5,004 2.13%
Wilmington, OH (FHA|USDA|VA) 4 $500,000 $125,000 $3,238 2.65%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $500,000 $250,000 $3,726 3.19%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $465,000 $465,000 $3,665 3.00%
Madison, IN (FHA|USDA|VA) 1 $415,000 $415,000 $2,688 3.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,396 2.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $335,000 $335,000 $4,316 3.00%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $325,000 $325,000 $2,634 2.63%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $315,000 $315,000 $3,519 2.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $280,000 $140,000 $3,298 3.12%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $265,000 $265,000 $3,175 2.88%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $255,000 $255,000 $3,741 2.88%
Statesboro, GA (FHA|USDA|VA) 1 $225,000 $225,000 $2,838 2.75%
Portsmouth, OH (FHA|USDA|VA) 1 $215,000 $215,000 $2,877 2.88%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $185,000 $185,000 $2,792 2.75%
Sandusky, OH (FHA|USDA|VA) 1 $175,000 $175,000 $2,210 2.38%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $145,000 $145,000 $4,500 2.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,759 3.38%
ROCKFORD, IL (FHA|USDA|VA) 1 $105,000 $105,000 $2,317 3.25%
Somerset, KY (FHA|USDA|VA) 1 $55,000 $55,000 $2,024 3.38%

Cincinnati Federal's top markets include Cincinnati, Dayton, Lexington, North Port, and Tampa among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,248 $301,880,000 $241,891 $2,496 2.98%
FHA 62 $13,030,000 $210,161 $6,910 2.98%
USDA 14 $3,190,000 $227,857 $5,588 2.81%
VA 10 $2,800,000 $280,000 $6,652 2.84%

For the 2021 period, Cincinnati Federal's most frequently originated loan type of loans were Conventional, with 1,248 originations. Their 2nd most popular type is FHA, with 62 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 735 $185,155,000 $251,912 $3,335 3.06%
Refi 365 $75,845,000 $207,795 $1,976 2.75%
Cash Out Refi 217 $55,285,000 $254,770 $2,281 3.02%
Home Improvement 17 $4,615,000 $271,471 $2,911 3.35%

For the 2021, Cincinnati Federal's most frequently cited loan purpose of loans were Home Purchase, with 735 originations. The 2nd most popular reason of loans were Refi, with 365 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,030 $244,000,000 $236,893 $3,040 3.05%
15 Year 159 $30,075,000 $189,151 $1,834 2.50%
20 Year 57 $12,915,000 $226,579 $1,968 3.06%
10 Year 44 $7,470,000 $169,773 $1,754 2.18%
Other 41 $26,235,000 $639,878 $2,022 3.50%
5 Year 3 $205,000 $68,333 $1,516 3.87%

For the 2021, Cincinnati Federal's most frequently cited loan length of loans were 30 Year, with 1,030 originations. The 2nd most popular length of loans were 15 Year, with 159 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,045 $237,945,000 $227,699
$1k-2k 157 $36,895,000 $235,000
$2k-3k 27 $7,815,000 $289,444
$5k+ 7 $2,945,000 $420,714
$3k-4k 6 $2,160,000 $360,000

$3,040 of loans were Cincinnati Federal's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,045 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 743 $172,265,000 $231,851
3-4% 377 $107,025,000 $283,886
<2.5% 185 $36,545,000 $197,541
4-5% 25 $4,805,000 $192,200
5-6% 4 $260,000 $65,000

During 2021, Cincinnati Federal's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 743 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 556 $151,450,000 $272,392 $3,054 2.97%
$100k-200k 519 $78,065,000 $150,414 $2,415 2.94%
$100,000 or less 123 $9,395,000 $76,382 $1,852 3.01%
$400k-600k 113 $53,985,000 $477,743 $3,701 2.96%
$600k-1MM 13 $9,255,000 $711,923 $5,083 3.75%
$1MM+ 10 $18,750,000 $1,875,000 $5,850 3.69%

2021 saw Cincinnati Federal place emphasis on $200k-400k loans with 556 originations, totaling $151,450,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 318 $76,410,000 $240,283 $2,742 2.96%
$50k-75k 309 $55,555,000 $179,790 $2,729 2.95%
$75k-100k 227 $49,195,000 $216,718 $2,828 2.97%
$150k-250k 217 $69,155,000 $318,687 $2,955 2.93%
$50k or less 185 $24,175,000 $130,676 $2,584 2.97%
$250k+ 52 $21,540,000 $414,231 $3,149 3.00%

Cincinnati Federal lent most frequently to those with incomes in the $100k-150k range, with 318 originations. The second most popular income band? $50k-75k, with 309 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 365 $82,765,000 $226,753 $2,559 2.92%
30-36% 273 $58,865,000 $215,623 $2,677 2.95%
<20% 169 $36,295,000 $214,763 $2,358 2.85%
40% 64 $14,860,000 $232,188 $3,115 3.04%
37% 56 $14,180,000 $253,214 $3,173 2.99%
42% 52 $11,820,000 $227,308 $3,075 3.10%
39% 46 $10,180,000 $221,304 $2,567 3.06%
41% 46 $10,290,000 $223,696 $3,427 3.08%
43% 41 $9,595,000 $234,024 $2,835 3.02%
36% 33 $6,525,000 $197,727 $2,548 3.03%
45% 31 $6,905,000 $222,742 $3,801 2.99%
38% 30 $6,800,000 $226,667 $2,784 2.90%
44% 27 $7,185,000 $266,111 $3,155 3.10%
49% 23 $5,515,000 $239,783 $3,819 2.96%
48% 18 $4,650,000 $258,333 $3,562 2.88%
47% 18 $6,140,000 $341,111 $3,359 3.03%
46% 13 $2,825,000 $217,308 $3,704 2.94%
50-60% 2 $430,000 $215,000 $6,583 3.13%
>60% 1 $205,000 $205,000 $1,682 3.88%

Cincinnati Federal lent most frequently to those with DTI ratios of 20-30%, with 365 originations. The next most common DTI ratio? 30-36%, with 273 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,105 $246,395,000 $222,982 $2,709 2.94%
Not applicable 26 $24,870,000 $956,538 $0 3.82%
Not provided 101 $23,785,000 $235,495 $2,698 2.96%
Asian 42 $12,820,000 $305,238 $3,161 3.04%
Black 49 $10,735,000 $219,082 $4,125 3.29%
Asian Indian 3 $955,000 $318,333 $2,072 3.29%
American Indian 4 $620,000 $155,000 $3,450 3.00%
Other Asian 3 $455,000 $151,667 $8,055 3.75%
Native Hawaiian 1 $265,000 $265,000 $3,662 3.00%

Approval Rates

Total approvals of all applications
96.79%

Cincinnati Federal 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
86.33%

Cincinnati Federal has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,334 $320,900,000 $240,555

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,334 $320,900,000 $240,555

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 46 $5,900,000 $128,261 $1,846 2.71%
40-60% 190 $37,480,000 $197,263 $2,037 2.67%
60-80% 557 $137,205,000 $246,329 $2,548 3.00%
80-100% 529 $139,305,000 $263,336 $3,373 3.06%
Over 100% 2 $500,000 $250,000 $10,756 2.81%
Under 20% 10 $510,000 $51,000 $844 3.86%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Consumer Real Estate Finance Co. FHA mortgage Closing on a mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Cincinnati Federal 1050 Scott Street Covington, KY 41011 Full Service B&M $7,342
Cincinnati Federal 1270 Nagel Road Cincinnati, OH 45255 Full Service B&M $43,110
Cincinnati Federal 4310 Glenway Avenue Cincinnati, OH 45205 Full Service B&M $19,191
Cincinnati Federal 6581 Harrison Avenue Cincinnati, OH 45247 Full Service B&M $44,809
Cincinnati Federal 6890 Dixie Highway Florence, KY 41042 Full Service B&M $15,932
Cincinnati Federal 7553 Bridgetown Road Cincinnati, OH 45248 Full Service B&M $34,172

For 2021, Cincinnati Federal had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $8,155
Net interest income $6,586
Total noninterest income $9,602
Gross Fiduciary activities income $0
Service charges on deposit accounts $313
Trading account gains and fees $0
Additional Noninterest Income $9,289
Pre-tax net operating income $2,439
Securities gains (or losses, -) $0
Income before extraordinary items $1,919
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $1,919
Minority interest net income $0
Net income $1,919
Sale, conversion, retirement of capital stock, net $307
Net operating income $1,919

Cincinnati Federal's gross interest income from loans was $8,155,000.
Cincinnati Federal's net interest income from loans was $6,586,000.
Cincinnati Federal's fee based income from loans was $313,000.
Cincinnati Federal's net income from loans was $1,919,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,569
Provision for credit losses $0
Total noninterest expense $13,749
Salaries and employee benefits $8,501
Premises and equipment expense $803
Additional noninterest expense $4,445
Applicable income taxes $520
Net charge-offs $0
Cash dividends $0

Cincinnati Federal's interest expense for loans was $1,569,000.
Cincinnati Federal's payroll and benefits expense were $8,501,000.
Cincinnati Federal's property, plant and equipment expenses $803,000.

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 $211,945
Deposits held in domestic offices $211,945
Deposits by Individuals, partnerships, and corporations $154,570
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $16,428
Deposits by Commercial banks and other depository institutions in U.S. $40,947
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $53,277
Demand deposits $51,468
Nontransaction accounts $158,668
Money market deposit accounts (MMDAs) $0
Other savings deposits (excluding MMDAs) $75,531
Total time deposits $83,137
Total time and savings deposits $160,477
Noninterest-bearing deposits $19,273
Interest-bearing deposits $192,672
Retail deposits $210,862
IRAs and Keogh plan accounts $12,449
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $251,930
Cash & Balances due from depository institutions $15,050
Interest-bearing balances $13,163
Total securities $7,891
Federal funds sold & reverse repurchase $6,515
Net loans and leases $203,687
Loan and leases loss allowance $1,673
Trading account assets $0
Bank premises and fixed assets $3,489
Other real estate owned $0
Goodwill and other intangibles $2,384
All other assets $12,914

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $251,930
Total Liabilities $215,070
Total deposits $211,945
Interest-bearing deposits $192,672
Deposits held in domestic offices $211,945
% insured (estimated) $83
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $3,125

Issued Loan Types

Type Value (in 000's)
Net loans and leases $203,687
Loan and leases loss allowance $1,673
Total loans and leases (domestic) $205,360
All real estate loans $204,687
Real estate loans in domestic offices $204,687
Construction and development loans $9,433
Residential 1-4 family construction $5,641
Other construction, all land development and other land $3,792
Loans secured by nonfarm nonresidential properties $41,048
Nonfarm nonresidential secured by owner-occupied properties $4,621
Commercial real estate & other non-farm, non-residential $36,427
Multifamily residential real estate $52,714
1-4 family residential loans $101,492
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $300
To non-U.S. addressees $0
Loans to individuals $304
Credit card loans $0
Related Plans $0
Consumer Auto Loans $17
Other loans to individuals $287
All other loans & leases $69
Loans to foreign governments and official institutions $0
Other loans $69
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 $990
Non 1-4 family restructured loans & leases $126
Total loans and leases (foreign) $0

Cincinnati Federal had $203,687,000 of loans outstanding in 2021. $204,687,000 of loans were in real estate loans. $9,433,000 of loans were in development loans. $52,714,000 of loans were in multifamily mortgage loans. $101,492,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $17,000 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 55 $17,481 $317,836
Nonfarm, nonresidential loans - <$100k 8 $302 $37,750
Nonfarm, nonresidential loans - $100-250k 10 $897 $89,700
Nonfarm, nonresidential loans - $250k-1MM 37 $16,282 $440,054
Commercial & Industrial, US addressed loans - <$1MM 6 $299 $49,833
Commercial & Industrial, US addressed loans - <$100k 3 $41 $13,667
Commercial & Industrial, US addressed loans - $100-250k 3 $258 $86,000