Cincinnati Federal Mortgage Rates, Fees & Info
Cincinnati, OHLEI: 5493003MAUCY3WMZY776
Tax ID: 31-0239867
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Mortgage Data
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, Wilmington, Lexington, and Akron among others. We have data for 18 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.41% | 4/18/24 |
| 30 Year Conventional Refi | 6.28% | 4/18/24 |
| 30 Year Cash-out Refi | 6.49% | 4/18/24 |
| 30 Year FHA Purchase | 7.30% | 4/18/24 |
| 30 Year VA Purchase | 6.29% | 4/18/24 |
| 30 Year USDA Purchase | 6.78% | 4/18/24 |
| 15 Year Conventional Purchase | 5.94% | 4/18/24 |
| 15 Year Conventional Refi | 5.82% | 4/18/24 |
| 15 Year Cash-out Refi | 5.82% | 4/18/24 |
| 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
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This is not an official calculator from Cincinnati Federal. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
453Origination Dollar Volume (All Markets)
$110,355,000Awards
Cincinnati Federal - 2023
Cincinnati Federal is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Cincinnati Federal's average 30 year fixed mortgage rate was
6.35%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.13%.
Relative Fees (Closing Costs)
Cincinnati Federal's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,745.
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 $9,089.
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) | 428 | $103,350,000 | $241,472 | $3,372 | 6.41% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $6,491 | 6.59% |
| Wilmington, OH (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $4,220 | 6.33% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $4,330 | 6.25% |
| AKRON, OH (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $2,964 | 6.13% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,967 | 7.75% |
| TULSA, OK (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,829 | 6.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,116 | 7.38% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,506 | 6.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,720 | 6.75% |
| Outside of Metro Areas | 1 | $365,000 | $365,000 | $3,559 | 7.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,333 | 6.50% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,715 | 6.44% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,095 | 6.13% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,420 | 6.13% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,712 | 5.63% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,520 | 6.00% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,967 | 5.75% |
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.
Similarity Rank: 168
Similarity Rank: 324
Similarity Rank: 380
Similarity Rank: 391
Similarity Rank: 483
Similarity Rank: 484
Similarity Rank: 598
Similarity Rank: 600
Similarity Rank: 621
Similarity Rank: 630
Product Mix
For 2023, Cincinnati Federal's most frequently originated type of loan was Conventional, with 418 originations. Their 2nd most popular type was FHA, with 23 originations.
Loan Reason
For 2023, Cincinnati Federal's most frequently cited loan purpose was Home Purchase, with 398 originations. The 2nd most popular reason was Home Improvement, with 22 originations.
Loan Duration/Length
For 2023, Cincinnati Federal's most frequently cited loan duration was 30 Year, with 399 originations. The 2nd most popular length was 15 Year, with 39 originations.
Origination Fees/Closing Costs
Cincinnati Federal's average total fees were $3,745, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 258 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 259 | $65,645,000 | $253,456 |
| 5-6% | 130 | $30,990,000 | $238,385 |
| 7-8% | 56 | $11,630,000 | $207,679 |
| Over 8% | 5 | $225,000 | $45,000 |
| 4-5% | 3 | $1,865,000 | $621,667 |
During 2023, Cincinnati Federal's average interest rate for loans was 6.35%, while their most frequently originated rate bucket for loans was 6-7%, with 259 originations.
Loan Sizing
2023 saw Cincinnati Federal place emphasis on $200k-400k loans with 194 originations, totaling $54,920,000 in origination value.
Applicant Income
Cincinnati Federal lent most frequently to those with incomes in the $50k-75k range, with 122 originations. The second most popular income band? $100k-150k, with 108 originations.
Applicant Debt to Income Ratio
Cincinnati Federal lent most frequently to those with DTI ratios of 30-36%, with 82 originations. The next most common DTI ratio? 20-30%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.43%
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 origination80.79%
Cincinnati Federal has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 453 | $110,355,000 | $243,609 |