Cincinnati Federal Mortgage Rates, Fees & Info

Cincinnati, OH

LEI: 5493003MAUCY3WMZY776

Tax ID: 31-0239867

5 stars

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

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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

Awards

Cincinnati Federal 30 Year Conventional Loans silver

Cincinnati Federal 30 Year Conventional Loans bronze

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.

The North Side Bank & Trust Company
Similarity Rank: 246

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

Warsaw Federal Savings and Loan Association
Similarity Rank: 1320

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