Cincinnati Federal Mortgage Rates, Fees & Info
Cincinnati, OH
LEI: 5493003MAUCY3WMZY776
Tax ID: 31-0239867
5 stars
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out of 5 stars, based on 37 reviews
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Mortgage Data
Bank 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
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Cincinnati Federal - 2021
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For 2021, less than of lenders were eligible for this award.
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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
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.
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 |
