Cincinnati Federal Mortgage Rates, Fees & Info

Cincinnati, OH

LEI: 5493003MAUCY3WMZY776

Tax ID: 31-0239867

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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, 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 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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    Originations

    453

    Origination Dollar Volume (All Markets)

    $110,355,000
    Show all (6) awards

    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%
    Cincinnati Federal's top markets include Cincinnati, Dayton, Wilmington, Lexington, and Akron among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Utah (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: 168
    Minster Bank
    Similarity Rank: 324
    Forcht Bank
    Similarity Rank: 380
    Day Air Credit Union, Inc
    Similarity Rank: 391
    CINFED Federal Credit Union
    Similarity Rank: 483
    Eagle Savings Bank
    Similarity Rank: 484
    The Old Fort Banking Company
    Similarity Rank: 598
    Somerville Bank
    Similarity Rank: 600
    LCNB National Bank
    Similarity Rank: 621
    FCN Bank
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 418 $102,460,000 $245,120 $3,109 6.43%
    FHA 23 $5,335,000 $231,957 $8,141 6.36%
    VA 7 $1,385,000 $197,857 $5,370 6.02%
    USDA 5 $1,175,000 $235,000 $5,417 6.05%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 398 $104,370,000 $262,236 $3,699 6.35%
    Home Improvement 22 $1,730,000 $78,636 $968 7.08%
    Other 17 $1,315,000 $77,353 $996 6.98%
    Cash Out Refi 12 $2,050,000 $170,833 $2,923 6.53%
    Refi 4 $890,000 $222,500 $2,347 6.81%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 399 $104,275,000 $261,341 $3,745 6.35%
    15 Year 39 $5,275,000 $135,256 $1,342 6.79%
    10 Year 12 $410,000 $34,167 $498 7.16%
    5 Year 2 $50,000 $25,000 $390 6.50%
    30+ year 1 $345,000 $345,000 $4,548 6.63%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 258 $58,970,000 $228,566
    $<1k 140 $35,840,000 $256,000
    $2k-3k 23 $7,445,000 $323,696
    $3k-4k 4 $1,550,000 $387,500
    $5k+ 4 $1,250,000 $312,500
    $4k-5k 3 $1,285,000 $428,333

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 194 $54,920,000 $283,093 $3,902 6.39%
    $100k-200k 156 $24,880,000 $159,487 $3,335 6.30%
    $100,000 or less 49 $2,865,000 $58,469 $1,067 6.97%
    $400k-600k 45 $21,185,000 $470,778 $4,091 6.36%
    $600k-1MM 8 $5,450,000 $681,250 $3,891 6.31%
    $1MM+ 1 $1,055,000 $1,055,000 $4,846 4.75%

    2023 saw Cincinnati Federal place emphasis on $200k-400k loans with 194 originations, totaling $54,920,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 122 $22,010,000 $180,410 $3,492 6.41%
    $100k-150k 108 $28,230,000 $261,389 $3,428 6.47%
    $150k-250k 73 $24,035,000 $329,247 $3,474 6.41%
    $75k-100k 65 $13,545,000 $208,385 $3,329 6.48%
    $50k or less 48 $6,740,000 $140,417 $3,341 6.18%
    $250k+ 36 $15,310,000 $425,278 $3,584 6.46%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 82 $18,700,000 $228,049 $3,129 6.37%
    20-30% 74 $19,730,000 $266,622 $3,271 6.28%
    42% 34 $7,240,000 $212,941 $2,764 6.75%
    <20% 33 $7,885,000 $238,939 $3,255 6.31%
    41% 27 $7,225,000 $267,593 $2,952 6.49%
    37% 26 $6,830,000 $262,692 $2,654 6.46%
    39% 23 $6,855,000 $298,043 $3,717 6.26%
    40% 21 $5,485,000 $261,190 $3,471 6.50%
    36% 20 $3,860,000 $193,000 $3,111 6.48%
    43% 18 $4,490,000 $249,444 $3,487 6.35%
    45% 18 $3,640,000 $202,222 $4,104 6.26%
    46% 14 $3,030,000 $216,429 $5,052 6.21%
    49% 13 $2,565,000 $197,308 $4,297 6.40%
    47% 13 $3,225,000 $248,077 $4,605 6.62%
    38% 12 $2,690,000 $224,167 $2,847 6.80%
    48% 10 $2,830,000 $283,000 $5,704 6.51%
    44% 9 $2,045,000 $227,222 $5,162 6.19%
    50-60% 5 $1,545,000 $309,000 $5,988 7.13%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 364 $84,100,000 $231,044 $3,357 6.41%
    Not provided 44 $13,320,000 $302,727 $3,275 6.36%
    Asian 21 $7,345,000 $349,762 $4,179 6.65%
    Black 18 $4,320,000 $240,000 $5,018 6.35%
    Asian Indian 3 $665,000 $221,667 $2,966 6.17%
    Not applicable 1 $485,000 $485,000 $0 6.50%
    American Indian 2 $120,000 $60,000 $536 7.00%

    Approval Rates

    Total approvals of all applications
    96.43%

    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 origination
    80.79%

    Cincinnati Federal has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 453 $110,355,000 $243,609

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    453 $110,355,000 $243,609

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $2,705,000 $108,200 $1,600 6.68%
    40-60% 28 $6,110,000 $218,214 $3,232 6.35%
    60-80% 142 $39,910,000 $281,056 $3,875 6.39%
    80-100% 234 $60,290,000 $257,650 $3,676 6.33%
    Over 100% 1 $265,000 $265,000 $12,408 6.75%
    Under 20% 23 $1,075,000 $46,739 $573 7.20%