Cincinnati Federal Mortgage Rates, Fees & Info

Cincinnati, OH

LEI: 5493003MAUCY3WMZY776

Tax ID: 31-0239867

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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, Louisville, Port St. Lucie, and Indianapolis among others. We have data for 41 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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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

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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

1,464

Origination Dollar Volume (All Markets)

$328,840,000

Employee count

74 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) 1,360 $304,420,000 $223,838 $2,340 3.04%
DAYTON-KETTERING, OH (FHA|USDA|VA) 34 $7,770,000 $228,529 $3,465 3.25%
LOUISVILLE, KY (FHA|USDA|VA) 14 $2,550,000 $182,143 $2,853 3.09%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $1,135,000 $378,333 $3,602 3.33%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $1,130,000 $282,500 $2,278 2.84%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $5,356 3.50%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 4 $870,000 $217,500 $2,975 2.91%
COLUMBUS, OH (FHA|USDA|VA) 2 $850,000 $425,000 $3,108 3.13%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 3 $745,000 $248,333 $2,901 2.83%
Outside of Metro Areas 5 $705,000 $141,000 $3,928 3.13%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $455,000 $455,000 $3,578 3.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $415,000 $415,000 $3,385 2.50%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $380,000 $190,000 $2,748 3.38%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $375,000 $375,000 $4,091 3.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,290 2.88%
KNOXVILLE, TN (FHA|USDA|VA) 1 $345,000 $345,000 $2,755 2.63%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,551 2.88%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $315,000 $315,000 $2,989 2.88%
Cullowhee, NC (FHA|USDA|VA) 1 $285,000 $285,000 $4,336 3.50%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $275,000 $275,000 $3,497 2.88%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $275,000 $275,000 $2,170 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $275,000 $275,000 $3,373 2.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $265,000 $265,000 $5,795 2.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $260,000 $130,000 $2,427 3.43%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $255,000 $255,000 $2,965 3.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $235,000 $235,000 $2,497 2.88%
Celina, OH (FHA|USDA|VA) 2 $230,000 $115,000 $2,262 3.56%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $225,000 $225,000 $2,891 2.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $215,000 $215,000 $2,572 3.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,292 2.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,448 2.99%
Mount Vernon, OH (FHA|USDA|VA) 1 $185,000 $185,000 $1,795 3.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.50%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $165,000 $165,000 $4,373 3.50%
AKRON, OH (FHA|USDA|VA) 1 $145,000 $145,000 $2,519 2.50%
Richmond, IN (FHA|USDA|VA) 1 $135,000 $135,000 $1,999 2.63%
ROCKFORD, IL (FHA|USDA|VA) 1 $125,000 $125,000 $2,192 3.00%
Sevierville, TN (FHA|USDA|VA) 1 $115,000 $115,000 $3,077 4.25%
Wilmington, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,574 4.00%
Defiance, OH (FHA|USDA|VA) 1 $105,000 $105,000 $1,730 2.63%
PITTSBURGH, PA (FHA|USDA|VA) 1 $105,000 $105,000 $4,231 3.75%
Cincinnati Federal's top markets include Cincinnati, Dayton, Louisville, Port St. Lucie, and Indianapolis among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (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.

    Day Air Credit Union, Inc
    Similarity Rank: 264
    Greenville Federal
    Similarity Rank: 405
    CINFED Federal Credit Union
    Similarity Rank: 651
    First State Bank
    Similarity Rank: 770
    Sharefax Credit Union
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    Somerville Bank
    Similarity Rank: 1152
    Central Bank
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    COMMONWEALTH
    Similarity Rank: 1425
    TELHIO
    Similarity Rank: 1750

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,373 $311,065,000 $226,559 $2,145 3.04%
    FHA 69 $13,415,000 $194,420 $6,468 3.23%
    USDA 19 $3,825,000 $201,316 $5,094 2.78%
    HELOC 3 $535,000 $178,333 n/a 3.00%

    For 2020, Cincinnati Federal's most frequently originated type of loan was Conventional, with 1,373 originations. Their 2nd most popular type was FHA, with 69 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 646 $140,790,000 $217,941 $3,122 3.11%
    Refi 634 $139,510,000 $220,047 $1,836 2.94%
    Cash Out Refi 163 $42,015,000 $257,761 $1,828 3.16%
    Home Improvement 21 $6,525,000 $310,714 $1,861 3.02%

    For 2020, Cincinnati Federal's most frequently cited loan purpose was Home Purchase, with 646 originations. The 2nd most popular reason was Refi, with 634 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,049 $231,735,000 $220,910 $2,686 3.10%
    15 Year 271 $53,705,000 $198,173 $1,707 2.66%
    20 Year 63 $12,625,000 $200,397 $1,311 3.26%
    Other 52 $26,810,000 $515,577 $2,061 3.44%
    10 Year 28 $3,960,000 $141,429 $1,353 3.12%
    5 Year 1 $5,000 $5,000 $0 6.38%

    For 2020, Cincinnati Federal's most frequently cited loan duration was 30 Year, with 1,049 originations. The 2nd most popular length was 15 Year, with 271 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,293 $278,805,000 $215,626
    $1k-2k 82 $19,290,000 $235,244
    $2k-3k 12 $2,590,000 $215,833
    $4k-5k 2 $590,000 $295,000
    $3k-4k 1 $135,000 $135,000
    $5k+ 1 $285,000 $285,000

    Cincinnati Federal's average total fees were $2,686, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,293 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 773 $170,695,000 $220,821
    3-4% 493 $117,355,000 $238,043
    <2.5% 150 $32,010,000 $213,400
    4-5% 37 $8,275,000 $223,649
    5-6% 10 $500,000 $50,000
    6-7% 1 $5,000 $5,000

    During 2020, Cincinnati Federal's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 2.5-3%, with 773 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 609 $91,325,000 $149,959 $2,304 3.02%
    $200k-400k 591 $160,195,000 $271,058 $2,575 2.97%
    $100,000 or less 146 $10,680,000 $73,151 $1,772 3.35%
    $400k-600k 102 $46,550,000 $456,373 $2,715 3.01%
    $1MM+ 9 $14,905,000 $1,656,111 $5,356 3.79%
    $600k-1MM 7 $5,185,000 $740,714 $3,579 3.82%

    2020 saw Cincinnati Federal place emphasis on $100k-200k loans with 609 originations, totaling $91,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 336 $55,540,000 $165,298 $2,500 3.04%
    $100k-150k 319 $77,415,000 $242,680 $2,345 3.00%
    $150k-250k 252 $72,470,000 $287,579 $2,161 2.99%
    $75k-100k 239 $48,885,000 $204,540 $2,563 3.04%
    $50k or less 206 $25,640,000 $124,466 $2,510 3.10%
    $250k+ 76 $26,500,000 $348,684 $2,295 3.01%

    Cincinnati Federal lent most frequently to those with incomes in the $50k-75k range, with 336 originations. The second most popular income band? $100k-150k, with 319 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 455 $99,145,000 $217,901 $2,280 2.99%
    30-36% 254 $53,100,000 $209,055 $2,296 3.09%
    <20% 220 $45,580,000 $207,182 $1,958 2.92%
    42% 54 $13,120,000 $242,963 $2,687 3.01%
    39% 52 $11,980,000 $230,385 $3,024 3.15%
    37% 51 $10,785,000 $211,471 $2,352 3.04%
    40% 49 $11,105,000 $226,633 $2,588 3.05%
    41% 44 $9,200,000 $209,091 $2,411 3.16%
    36% 44 $10,170,000 $231,136 $2,466 3.03%
    38% 43 $9,085,000 $211,279 $2,691 3.18%
    44% 34 $6,970,000 $205,000 $3,474 3.21%
    47% 31 $6,505,000 $209,839 $2,503 2.94%
    43% 31 $6,285,000 $202,742 $2,752 3.01%
    46% 23 $4,675,000 $203,261 $2,919 3.01%
    45% 22 $4,500,000 $204,545 $2,618 2.98%
    49% 16 $3,050,000 $190,625 $3,155 2.96%
    48% 15 $2,445,000 $163,000 $3,219 3.23%
    50-60% 4 $780,000 $195,000 $6,139 3.22%

    Cincinnati Federal lent most frequently to those with DTI ratios of 20-30%, with 455 originations. The next most common DTI ratio? 30-36%, with 254 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,276 $270,160,000 $211,724 $2,379 3.03%
    Not provided 87 $21,705,000 $249,483 $2,263 2.98%
    Not applicable 20 $19,830,000 $991,500 $0 4.06%
    Asian 41 $10,215,000 $249,146 $2,549 2.92%
    Black 38 $6,270,000 $165,000 $3,309 3.35%
    Asian Indian 1 $355,000 $355,000 $3,369 3.00%
    Other Asian 1 $305,000 $305,000 $1,574 3.00%

    Approval Rates

    Total approvals of all applications
    96.94%

    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
    87.77%

    Cincinnati Federal has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,464 $328,840,000 $224,617

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 18 $18,970,000 $1,053,889
    Single Family (1-4 Units):Manufactured 5 $605,000 $121,000
    Single Family (1-4 Units):Site-Built 1,441 $309,265,000 $214,618

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $6,660,000 $158,571 $1,934 3.07%
    40-60% 192 $37,540,000 $195,521 $1,720 2.83%
    60-80% 645 $155,285,000 $240,752 $2,057 3.00%
    80-100% 561 $127,355,000 $227,014 $3,107 3.10%
    Over 100% 3 $555,000 $185,000 $3,398 2.91%
    Under 20% 21 $1,445,000 $68,810 $365 4.56%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Consumer Real Estate Finance Co. FHA mortgage Closing on a mortgage 1 33.3%
    Consumer Real Estate Finance Co. Conventional home mortgage Closing on a mortgage 2 66.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cincinnati Federal 1050 Scott Street Covington, KY 41011 Full Service B&M $7,677
    Cincinnati Federal 1270 Nagel Road Cincinnati, OH 45255 Full Service B&M $40,009
    Cincinnati Federal 4310 Glenway Avenue Cincinnati, OH 45205 Full Service B&M $19,300
    Cincinnati Federal 6581 Harrison Avenue Cincinnati, OH 45247 Full Service B&M $38,577
    Cincinnati Federal 6890 Dixie Highway Florence, KY 41042 Full Service B&M $18,700
    Cincinnati Federal 7553 Bridgetown Road Cincinnati, OH 45248 Full Service B&M $33,788

    For 2020, Cincinnati Federal had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,026
    Net interest income $5,432
    Total noninterest income $10,463
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $284
    Trading account gains and fees $0
    Additional Noninterest Income $10,179
    Pre-tax net operating income $4,292
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,406
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,406
    Minority interest net income $0
    Net income $3,406
    Sale, conversion, retirement of capital stock, net $7,875
    Net operating income $3,406

    Cincinnati Federal's gross interest income from loans was $8,026,000.
    Cincinnati Federal's net interest income from loans was $5,432,000.
    Cincinnati Federal's fee based income from loans was $284,000.
    Cincinnati Federal's net income from loans was $3,406,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,594
    Provision for credit losses $265
    Total noninterest expense $11,338
    Salaries and employee benefits $7,724
    Premises and equipment expense $711
    Additional noninterest expense $2,903
    Applicable income taxes $886
    Net charge-offs $0
    Cash dividends $0

    Cincinnati Federal's interest expense for loans was $2,594,000.
    Cincinnati Federal's payroll and benefits expense were $7,724,000.
    Cincinnati Federal's property, plant and equipment expenses $711,000.

    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 $160,627
    Deposits held in domestic offices $160,627
    Deposits by Individuals, partnerships, and corporations $155,058
    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. $5,569
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $50,365
    Demand deposits $50,365
    Nontransaction accounts $110,262
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $48,056
    Total time deposits $62,205
    Total time and savings deposits $110,262
    Noninterest-bearing deposits $12,356
    Interest-bearing deposits $148,271
    Retail deposits $158,793
    IRAs and Keogh plan accounts $13,774
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $237,153
    Cash & Balances due from depository institutions $29,138
    Interest-bearing balances $26,933
    Total securities $5,214
    Federal funds sold & reverse repurchase $5,838
    Net loans and leases $180,025
    Loan and leases loss allowance $1,673
    Trading account assets $0
    Bank premises and fixed assets $3,488
    Other real estate owned $0
    Goodwill and other intangibles $2,200
    All other assets $11,250

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $237,153
    Total Liabilities $202,478
    Total deposits $160,627
    Interest-bearing deposits $148,271
    Deposits held in domestic offices $160,627
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $38,412
    Subordinated debt $0
    All other liabilities $3,439

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $180,025
    Loan and leases loss allowance $1,673
    Total loans and leases (domestic) $181,698
    All real estate loans $180,624
    Real estate loans in domestic offices $180,624
    Construction and development loans $2,771
    Residential 1-4 family construction $1,479
    Other construction, all land development and other land $1,292
    Loans secured by nonfarm nonresidential properties $28,522
    Nonfarm nonresidential secured by owner-occupied properties $7,450
    Commercial real estate & other non-farm, non-residential $21,072
    Multifamily residential real estate $40,020
    1-4 family residential loans $108,945
    Farmland loans $366
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $722
    To non-U.S. addressees $0
    Loans to individuals $307
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $27
    Other loans to individuals $280
    All other loans & leases $45
    Loans to foreign governments and official institutions $0
    Other loans $45
    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 $1,143
    Non 1-4 family restructured loans & leases $211
    Total loans and leases (foreign) $0

    Cincinnati Federal had $180,025,000 of loans outstanding in 2020. $180,624,000 of loans were in real estate loans. $2,771,000 of loans were in development loans. $40,020,000 of loans were in multifamily mortgage loans. $108,945,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $27,000 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 50 $12,904 $258,080
    Nonfarm, nonresidential loans - <$100k 9 $391 $43,444
    Nonfarm, nonresidential loans - $100-250k 10 $727 $72,700
    Nonfarm, nonresidential loans - $250k-1MM 31 $11,786 $380,194
    Commercial & Industrial, US addressed loans - <$1MM 18 $722 $40,111
    Commercial & Industrial, US addressed loans - <$100k 14 $306 $21,857
    Commercial & Industrial, US addressed loans - $100-250k 4 $416 $104,000