Cincinnati Federal Mortgage Rates, Fees & Info

Cincinnati, OH

LEI: 5493003MAUCY3WMZY776

Tax ID: 31-0239867

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Mortgage Data

Bank 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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cincinnati, New Orleans, Louisville, North Port, and Denver among others. We have data for 15 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.

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% 3/28/24
30 Year Conventional Refi 6.28% 3/28/24
30 Year Cash-out Refi 6.49% 3/28/24
30 Year FHA Purchase 7.30% 3/28/24
30 Year VA Purchase 6.29% 3/28/24
30 Year USDA Purchase 6.78% 3/28/24
15 Year Conventional Purchase 5.94% 3/28/24
15 Year Conventional Refi 5.82% 3/28/24
15 Year Cash-out Refi 5.82% 3/28/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Cincinnati Federal. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

604

Origination Dollar Volume (All Markets)

$117,290,000

Employee count

57

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) 582 $111,600,000 $191,753 $0 0.00%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 0.00%
LOUISVILLE, KY (FHA|USDA|VA) 5 $695,000 $139,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $505,000 $168,333 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $400,000 $200,000 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
Outside of Metro Areas 2 $290,000 $145,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
SPRINGFIELD, OH (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Wilmington, OH (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Cincinnati Federal's top markets include Cincinnati, New Orleans, Louisville, North Port, and Denver among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Louisiana (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: 162
    KH NETWORK CREDIT UNION
    Similarity Rank: 304
    RIVER VALLEY CREDIT UNION, INC.
    Similarity Rank: 716
    Somerville Bank
    Similarity Rank: 1001
    The Friendship State Bank
    Similarity Rank: 1040
    TELHIO
    Similarity Rank: 1054
    First State Bank
    Similarity Rank: 1179
    OPTION FINANCIAL, LLC
    Similarity Rank: 1284
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1391

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 555 $109,225,000 $196,802 $0 0.00%
    FHA 40 $6,570,000 $164,250 $0 0.00%
    USDA 9 $1,495,000 $166,111 $0 0.00%

    For 2019, Cincinnati Federal's most frequently originated type of loan was Conventional, with 555 originations. Their 2nd most popular type was FHA, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 428 $85,290,000 $199,276 $0 0.00%
    Refi 88 $19,230,000 $218,523 $0 0.00%
    Cash Out Refi 82 $11,850,000 $144,512 $0 0.00%
    Home Improvement 3 $765,000 $255,000 $0 0.00%
    Other 3 $155,000 $51,667 $0 0.00%

    For 2019, Cincinnati Federal's most frequently cited loan purpose was Home Purchase, with 428 originations. The 2nd most popular reason was Refi, with 88 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 604 $117,290,000 $194,189 $0 0.00%

    For 2019, Cincinnati Federal's most frequently cited loan duration was Other, with 604 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 289 $41,565,000 $143,824 $0 0.00%
    $200k-400k 166 $44,150,000 $265,964 $0 0.00%
    $100,000 or less 122 $8,360,000 $68,525 $0 0.00%
    $400k-600k 20 $9,480,000 $474,000 $0 0.00%
    $1MM+ 5 $11,985,000 $2,397,000 $0 0.00%
    $600k-1MM 2 $1,750,000 $875,000 $0 0.00%

    2019 saw Cincinnati Federal place emphasis on $100k-200k loans with 289 originations, totaling $41,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 164 $24,120,000 $147,073 $0 0.00%
    $50k or less 125 $13,275,000 $106,200 $0 0.00%
    $100k-150k 112 $24,480,000 $218,571 $0 0.00%
    $75k-100k 95 $15,595,000 $164,158 $0 0.00%
    $150k-250k 60 $15,680,000 $261,333 $0 0.00%
    $250k+ 30 $9,360,000 $312,000 $0 0.00%

    Cincinnati Federal lent most frequently to those with incomes in the $50k-75k range, with 164 originations. The second most popular income band? $50k or less, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 604 $117,290,000 $194,189 $0 0.00%

    Cincinnati Federal lent most frequently to those with DTI ratios of Exempt%, with 604 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 496 $86,690,000 $174,778 $0 0.00%
    Not applicable 17 $14,655,000 $862,059 $0 0.00%
    Not provided 51 $8,985,000 $176,176 $0 0.00%
    Asian 19 $4,195,000 $220,789 $0 0.00%
    Black 19 $2,555,000 $134,474 $0 0.00%
    American Indian 1 $155,000 $155,000 $0 0.00%
    Japanese 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.65%

    Cincinnati Federal has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.11%

    Cincinnati Federal has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 604 $117,290,000 $194,189

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $13,925,000 $1,071,154
    Single Family (1-4 Units):Manufactured 3 $315,000 $105,000
    Single Family (1-4 Units):Site-Built 588 $103,050,000 $175,255

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Consumer Real Estate Finance Co. FHA mortgage Closing on a mortgage 1 50.0%
    Consumer Real Estate Finance Co. Other type of mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cincinnati Federal 1050 Scott Street Covington, KY 41011 Full Service B&M $8,017
    Cincinnati Federal 1270 Nagel Road Cincinnati, OH 45255 Full Service B&M $36,199
    Cincinnati Federal 4310 Glenway Avenue Cincinnati, OH 45205 Full Service B&M $19,410
    Cincinnati Federal 6581 Harrison Avenue Cincinnati, OH 45247 Full Service B&M $23,961
    Cincinnati Federal 6890 Dixie Highway Florence, KY 41042 Full Service B&M $18,795
    Cincinnati Federal 7553 Bridgetown Road Cincinnati, OH 45248 Full Service B&M $34,013

    For 2019, Cincinnati Federal had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,535
    Net interest income $5,631
    Total noninterest income $2,961
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $329
    Trading account gains and fees $0
    Additional Noninterest Income $2,632
    Pre-tax net operating income $1,167
    Securities gains (or losses, -) $0
    Income before extraordinary items $976
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $976
    Minority interest net income $0
    Net income $976
    Sale, conversion, retirement of capital stock, net $168
    Net operating income $976

    Cincinnati Federal's gross interest income from loans was $8,535,000.
    Cincinnati Federal's net interest income from loans was $5,631,000.
    Cincinnati Federal's fee based income from loans was $329,000.
    Cincinnati Federal's net income from loans was $976,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,904
    Provision for credit losses $25
    Total noninterest expense $7,400
    Salaries and employee benefits $4,265
    Premises and equipment expense $594
    Additional noninterest expense $2,541
    Applicable income taxes $191
    Net charge-offs $21
    Cash dividends $750

    Cincinnati Federal's interest expense for loans was $2,904,000.
    Cincinnati Federal's payroll and benefits expense were $4,265,000.
    Cincinnati Federal's property, plant and equipment expenses $594,000.

    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 $169,234
    Deposits held in domestic offices $169,234
    Deposits by Individuals, partnerships, and corporations $162,670
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $6,564
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $54,482
    Demand deposits $54,473
    Nontransaction accounts $114,752
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $37,514
    Total time deposits $77,238
    Total time and savings deposits $114,761
    Noninterest-bearing deposits $36,472
    Interest-bearing deposits $132,762
    Retail deposits $166,207
    IRAs and Keogh plan accounts $13,889
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $241,951
    Cash & Balances due from depository institutions $33,805
    Interest-bearing balances $32,073
    Total securities $6,733
    Federal funds sold & reverse repurchase $3,765
    Net loans and leases $182,455
    Loan and leases loss allowance $1,408
    Trading account assets $0
    Bank premises and fixed assets $3,354
    Other real estate owned $0
    Goodwill and other intangibles $1,411
    All other assets $10,428

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $241,951
    Total Liabilities $218,555
    Total deposits $169,234
    Interest-bearing deposits $132,762
    Deposits held in domestic offices $169,234
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $47,172
    Subordinated debt $0
    All other liabilities $2,149

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $182,455
    Loan and leases loss allowance $1,408
    Total loans and leases (domestic) $183,863
    All real estate loans $182,485
    Real estate loans in domestic offices $182,485
    Construction and development loans $4,057
    Residential 1-4 family construction $2,150
    Other construction, all land development and other land $1,907
    Loans secured by nonfarm nonresidential properties $23,276
    Nonfarm nonresidential secured by owner-occupied properties $4,428
    Commercial real estate & other non-farm, non-residential $18,848
    Multifamily residential real estate $35,909
    1-4 family residential loans $118,859
    Farmland loans $384
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $505
    To non-U.S. addressees $0
    Loans to individuals $825
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $12
    Other loans to individuals $813
    All other loans & leases $48
    Loans to foreign governments and official institutions $0
    Other loans $48
    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 $1,445
    Non 1-4 family restructured loans & leases $507
    Total loans and leases (foreign) $0

    Cincinnati Federal had $182,455,000 of loans outstanding in 2019. $182,485,000 of loans were in real estate loans. $4,057,000 of loans were in development loans. $35,909,000 of loans were in multifamily mortgage loans. $118,859,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $12,000 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 54 $13,644 $252,667
    Nonfarm, nonresidential loans - <$100k 12 $569 $47,417
    Nonfarm, nonresidential loans - $100-250k 15 $1,304 $86,933
    Nonfarm, nonresidential loans - $250k-1MM 27 $11,771 $435,963
    Commercial & Industrial, US addressed loans - <$1MM 9 $505 $56,111
    Commercial & Industrial, US addressed loans - <$100k 5 $73 $14,600
    Commercial & Industrial, US addressed loans - $100-250k 4 $432 $108,000