Cincinnati Federal Mortgage Rates, Fees & Info

Cincinnati, OH

LEI: 5493003MAUCY3WMZY776

Tax ID: 31-0239867

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

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & 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 by origination volume include: Cincinnati, Dayton, Lexington, North Port, and Tampa among others. We have data for 34 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 an average 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 6.81% 12/4/22
    30 Year Conventional Refi 6.69% 12/4/22
    30 Year Cash-out Refi 6.79% 12/4/22
    30 Year FHA Purchase 7.66% 12/4/22
    30 Year FHA Refi 7.18% 12/4/22
    30 Year VA Purchase 6.54% 12/4/22
    30 Year USDA Purchase 6.96% 12/4/22
    15 Year Conventional Purchase 5.98% 12/4/22
    15 Year Conventional Refi 5.99% 12/4/22
    15 Year Cash-out Refi 5.99% 12/4/22
    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.


    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 mortgage rate was 3.05%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Cincinnati Federal's average total fees/closing costs for a 30 year fixed rate mortgage were $3,040.

    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) 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.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (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
    Greenville Federal
    Similarity Rank: 396
    Day Air Credit Union, Inc
    Similarity Rank: 432
    Sharefax Credit Union
    Similarity Rank: 505
    Eagle Savings Bank
    Similarity Rank: 1152
    KH NETWORK CREDIT UNION
    Similarity Rank: 1344
    Central Bank & Trust Company
    Similarity Rank: 1476
    UNIVERSAL 1 CREDIT UNION
    Similarity Rank: 1848

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Cincinnati Federal's most frequently originated type of loan was Conventional, with 1,248 originations. Their 2nd most popular type was FHA, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Cincinnati Federal's most frequently cited loan purpose was Home Purchase, with 735 originations. The 2nd most popular reason was 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 2021, Cincinnati Federal's most frequently cited loan duration was 30 Year, with 1,030 originations. The 2nd most popular length was 15 Year, with 159 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 5 $1,615,000 $323,000
    $4k-5k 1 $545,000 $545,000

    Cincinnati Federal's average total fees were $3,040, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.05%, while their most frequently originated rate bucket for loans was 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 or Islander 1 $265,000 $265,000 $3,662 3.00%

    Approval Rates

    Total approvals of all applications
    98.64%

    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
    86.13%

    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