Cincinnati Federal Mortgage Rates, Fees & Info

Cincinnati, OH

LEI: 5493003MAUCY3WMZY776

Tax ID: 31-0239867

5 stars - out of 5 stars, based on 27 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    • Review & Overview

    Cincinnati Federal is a smaller mortgage company specializing in Home Purchase 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 by origination volume include: Cincinnati, Dayton, Naples, Columbus, and Detroit among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cincinnati Federal 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. Cincinnati Federal is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.41% 6/7/23
    30 Year Conventional Refi 6.28% 6/7/23
    30 Year Cash-out Refi 6.49% 6/7/23
    30 Year FHA Purchase 7.30% 6/7/23
    30 Year VA Purchase 6.29% 6/7/23
    30 Year USDA Purchase 6.78% 6/7/23
    15 Year Conventional Purchase 5.94% 6/7/23
    15 Year Conventional Refi 5.82% 6/7/23
    15 Year Cash-out Refi 5.82% 6/7/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Cincinnati Federal Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Cincinnati Federal. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    715

    Origination Dollar Volume (All Markets)

    $192,115,000

    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 mortgage rate was 4.64%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.12%.

    Relative Fees (Closing Costs)

    Cincinnati Federal's average total fees/closing costs for a 30 year fixed rate mortgage were $3,456.

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

    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
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 672 $180,210,000 $268,170 $3,191 4.58%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 12 $4,220,000 $351,667 $3,338 4.92%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $860,000 $430,000 $6,402 3.38%
    COLUMBUS, OH (FHA|USDA|VA) 3 $805,000 $268,333 $2,722 5.67%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $715,000 $715,000 $5,843 6.13%
    Outside of Metro Areas 4 $640,000 $160,000 $4,730 4.81%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $535,000 $535,000 $4,065 5.13%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $375,000 $375,000 $3,760 5.00%
    Urbana, OH (FHA|USDA|VA) 1 $375,000 $375,000 $17,333 3.00%
    Wilmington, OH (FHA|USDA|VA) 2 $350,000 $175,000 $5,811 5.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $315,000 $315,000 $5,074 3.63%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $315,000 $315,000 $3,046 7.13%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $310,000 $155,000 $3,412 4.75%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $305,000 $305,000 $4,434 3.88%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $295,000 $295,000 $4,641 4.13%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $265,000 $265,000 $4,093 4.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $255,000 $255,000 $5,204 4.75%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $215,000 $215,000 $3,897 5.50%
    Ada, OK (FHA|USDA|VA) 1 $195,000 $195,000 $3,000 3.50%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,571 3.38%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,163 3.00%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $85,000 $85,000 $2,235 3.75%
    Mount Sterling, KY (FHA|USDA|VA) 1 $75,000 $75,000 $2,666 3.25%
    Mount Vernon, OH (FHA|USDA|VA) 1 $55,000 $55,000 $770 3.50%
    Richmond, IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.13%
    Cincinnati Federal's top markets include Cincinnati, Dayton, Naples, Columbus, and Detroit among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Cincinnati Federal based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CINFED Federal Credit Union
    Similarity Rank: 288
    Eagle Savings Bank
    Similarity Rank: 384
    Day Air Credit Union, Inc
    Similarity Rank: 432
    Greenville Federal
    Similarity Rank: 432
    KH NETWORK CREDIT UNION
    Similarity Rank: 672
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 840
    Sharefax Credit Union
    Similarity Rank: 1010
    Somerville Bank
    Similarity Rank: 1071
    The Friendship State Bank
    Similarity Rank: 1197
    SIBCY CLINE MORTGAGE SERVICES, INC.
    Similarity Rank: 1216

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 666 $181,450,000 $272,447 $2,983 4.56%
    FHA 30 $6,130,000 $204,333 $6,974 4.89%
    VA 14 $3,510,000 $250,714 $6,257 4.69%
    USDA 5 $1,025,000 $205,000 $5,103 4.50%

    For 2022, Cincinnati Federal's most frequently originated type of loan was Conventional, with 666 originations. Their 2nd most popular type was FHA, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 559 $151,625,000 $271,243 $3,510 4.67%
    Cash Out Refi 107 $27,505,000 $257,056 $1,810 4.52%
    Refi 45 $10,285,000 $228,556 $2,569 3.62%
    Home Improvement 4 $2,700,000 $675,000 $6,059 4.50%

    For 2022, Cincinnati Federal's most frequently cited loan purpose was Home Purchase, with 559 originations. The 2nd most popular reason was Cash Out Refi, with 107 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 595 $154,765,000 $260,109 $3,456 4.64%
    15 Year 53 $9,965,000 $188,019 $2,292 4.32%
    Other 30 $18,540,000 $618,000 $1,641 4.54%
    20 Year 19 $2,825,000 $148,684 $1,781 4.36%
    10 Year 17 $5,885,000 $346,176 $1,377 3.72%
    5 Year 1 $135,000 $135,000 $1,623 5.50%

    For 2022, Cincinnati Federal's most frequently cited loan duration was 30 Year, with 595 originations. The 2nd most popular length was 15 Year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 401 $99,115,000 $247,170
    $1k-2k 186 $44,390,000 $238,656
    $2k-3k 34 $10,380,000 $305,294
    $3k-4k 13 $4,065,000 $312,692
    $5k+ 9 $5,345,000 $593,889
    $4k-5k 4 $1,550,000 $387,500

    Cincinnati Federal's average total fees were $3,456, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 401 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 246 $73,320,000 $298,049
    5-6% 190 $45,390,000 $238,895
    4-5% 181 $51,845,000 $286,436
    6-7% 58 $11,800,000 $203,448
    2.5-3% 22 $5,910,000 $268,636
    <2.5% 12 $2,790,000 $232,500
    7-8% 6 $1,060,000 $176,667

    During 2022, Cincinnati Federal's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 3-4%, with 246 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 304 $82,720,000 $272,105 $3,377 4.58%
    $100k-200k 238 $36,910,000 $155,084 $2,971 4.64%
    $400k-600k 72 $34,160,000 $474,444 $3,889 4.30%
    $100,000 or less 67 $4,835,000 $72,164 $1,588 4.83%
    $600k-1MM 27 $18,805,000 $696,481 $6,309 4.32%
    $1MM+ 7 $14,685,000 $2,097,857 $7,087 4.18%

    2022 saw Cincinnati Federal place emphasis on $200k-400k loans with 304 originations, totaling $82,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 168 $32,120,000 $191,190 $3,051 4.61%
    $100k-150k 152 $40,420,000 $265,921 $3,094 4.64%
    $75k-100k 138 $30,890,000 $223,841 $3,289 4.63%
    $150k-250k 111 $37,975,000 $342,117 $3,672 4.47%
    $50k or less 79 $10,655,000 $134,873 $2,967 4.54%
    $250k+ 42 $18,960,000 $451,429 $4,148 4.41%

    Cincinnati Federal lent most frequently to those with incomes in the $50k-75k range, with 168 originations. The second most popular income band? $100k-150k, with 152 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 162 $37,780,000 $233,210 $2,969 4.44%
    30-36% 138 $33,470,000 $242,536 $3,141 4.64%
    <20% 58 $15,170,000 $261,552 $2,890 4.09%
    42% 58 $18,130,000 $312,586 $3,882 4.60%
    41% 43 $10,205,000 $237,326 $2,868 4.68%
    39% 33 $8,565,000 $259,545 $2,617 4.70%
    38% 30 $8,420,000 $280,667 $3,146 4.45%
    40% 29 $7,125,000 $245,690 $3,325 4.53%
    36% 27 $7,195,000 $266,481 $3,836 4.22%
    44% 20 $4,240,000 $212,000 $3,216 4.99%
    37% 16 $4,540,000 $283,750 $2,658 4.73%
    43% 16 $3,230,000 $201,875 $4,053 5.19%
    48% 15 $3,095,000 $206,333 $4,326 5.25%
    49% 13 $2,855,000 $219,615 $5,248 4.68%
    46% 12 $3,100,000 $258,333 $4,917 4.95%
    45% 11 $2,915,000 $265,000 $3,455 4.89%
    47% 6 $960,000 $160,000 $3,511 4.94%
    50-60% 3 $575,000 $191,667 $6,174 5.83%

    Cincinnati Federal lent most frequently to those with DTI ratios of 20-30%, with 162 originations. The next most common DTI ratio? 30-36%, with 138 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 562 $136,660,000 $243,167 $3,207 4.57%
    Not applicable 24 $20,450,000 $852,083 $0 4.60%
    Not provided 68 $15,990,000 $235,147 $3,185 4.46%
    Asian 32 $10,460,000 $326,875 $3,696 4.76%
    Black 20 $5,800,000 $290,000 $4,473 4.76%
    American Indian 5 $1,035,000 $207,000 $2,277 5.18%
    Vietnamese 2 $1,000,000 $500,000 $3,506 4.38%
    Asian Indian 2 $720,000 $360,000 $3,365 4.44%

    Approval Rates

    Total approvals of all applications
    96.92%

    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
    85.73%

    Cincinnati Federal has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 715 $192,115,000 $268,692

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    715 $192,115,000 $268,692

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 43 $5,555,000 $129,186 $1,986 4.86%
    40-60% 52 $12,520,000 $240,769 $2,851 4.26%
    60-80% 246 $76,290,000 $310,122 $3,350 4.46%
    80-100% 356 $96,300,000 $270,506 $3,441 4.65%
    Over 100% 3 $745,000 $248,333 $11,485 3.79%
    Under 20% 15 $705,000 $47,000 $599 5.28%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    CMG MORTGAGE, INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    CMG MORTGAGE, INC Conventional home mortgage Trouble during payment process 1 50.0%