Warsaw Federal Savings And Loan Association Mortgage Rates, Fees & Info

Cincinnati, OH

LEI: 549300LUF8JLB9HKT321

Tax ID: 31-0481480

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

Review & Overview

Warsaw Federal Savings And Loan Association is a smaller mortgage company specializing in Refi and Home Purchase loans. Warsaw Federal Savings And Loan Association 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, Columbus, Indianapolis, Richmond, and Washington among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Warsaw Federal Savings And Loan Association 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. Warsaw Federal Savings And Loan Association 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.

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	6.26%	4/28/24
30 Year Conventional Refi	6.11%	4/28/24
30 Year Cash-out Refi	6.77%	4/28/24
30 Year FHA Purchase	7.49%	4/28/24
30 Year VA Purchase	5.97%	4/28/24
15 Year Conventional Purchase	6.08%	4/28/24
15 Year Conventional Refi	5.84%	4/28/24
15 Year Cash-out Refi	5.84%	4/28/24
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.

Warsaw Federal Savings And Loan Association Mortgage Calculator

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This is not an official calculator from Warsaw Federal Savings And Loan Association. 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

369

Origination Dollar Volume (All Markets)

$89,045,000

Employee count

Awards

Warsaw Federal Savings and Loan Association 30 Year Conventional Loans silver

Warsaw Federal Savings and Loan Association FHA Loans silver

Show all (3) 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)	337	$79,735,000	$236,602	$3,189	2.95%
COLUMBUS, OH (FHA\|USDA\|VA)	11	$3,525,000	$320,455	$2,671	2.88%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	4	$980,000	$245,000	$2,817	2.97%
RICHMOND, VA (FHA\|USDA\|VA)	2	$800,000	$400,000	$2,854	2.75%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	1	$575,000	$575,000	$2,748	3.13%
COLUMBIA, SC (FHA\|USDA\|VA)	2	$570,000	$285,000	$2,644	2.50%
DAYTON-KETTERING, OH (FHA\|USDA\|VA)	2	$520,000	$260,000	$2,920	3.00%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	2	$380,000	$190,000	$2,640	3.19%
LIMA, OH (FHA\|USDA\|VA)	2	$360,000	$180,000	$2,876	2.94%
KNOXVILLE, TN (FHA\|USDA\|VA)	1	$335,000	$335,000	$3,095	2.75%
Outside of Metro Areas	1	$325,000	$325,000	$2,910	3.25%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	1	$305,000	$305,000	$3,216	2.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	1	$265,000	$265,000	$2,448	2.50%
CLEVELAND-ELYRIA, OH (FHA\|USDA\|VA)	1	$195,000	$195,000	$2,400	3.88%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$175,000	$175,000	$1,257	3.00%

Warsaw Federal Savings And Loan Association's top markets include Cincinnati, Columbus, Indianapolis, Richmond, and Washington among others.

Their top states include:

Ohio (FHA|USDA|VA)

Kentucky (FHA|USDA|VA)

Indiana (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Warsaw Federal Savings and Loan Association 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

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Sharefax Credit Union
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	348	$84,430,000	$242,615	$2,892	2.94%
FHA	16	$3,430,000	$214,375	$7,739	3.15%
VA	4	$950,000	$237,500	$6,583	3.06%
USDA	1	$235,000	$235,000	$8,609	2.88%

For 2020, Warsaw Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 348 originations. Their 2nd most popular type was FHA, with 16 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	248	$60,310,000	$243,185	$2,622	2.91%
Home Purchase	114	$27,370,000	$240,088	$4,342	3.04%
Home Improvement	3	$665,000	$221,667	$2,765	3.00%
Cash Out Refi	3	$595,000	$198,333	$2,702	3.00%
Other	1	$105,000	$105,000	$2,533	2.50%

For 2020, Warsaw Federal Savings And Loan Association's most frequently cited loan purpose was Refi, with 248 originations. The 2nd most popular reason was Home Purchase, with 114 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	223	$56,445,000	$253,117	$3,493	3.05%
15 Year	119	$26,355,000	$221,471	$2,631	2.74%
20 Year	18	$4,370,000	$242,778	$2,746	3.13%
Other	5	$1,325,000	$265,000	$2,532	2.83%
10 Year	4	$550,000	$137,500	$2,110	2.76%

For 2020, Warsaw Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 223 originations. The 2nd most popular length was 15 Year, with 119 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	299	$71,725,000	$239,883
$1k-2k	39	$9,015,000	$231,154
$2k-3k	15	$4,355,000	$290,333
$3k-4k	8	$2,060,000	$257,500
$4k-5k	6	$1,330,000	$221,667
$5k+	1	$265,000	$265,000

Warsaw Federal Savings And Loan Association's average total fees were $3,493, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 299 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	214	$53,470,000	$249,860
3-4%	109	$23,885,000	$219,128
<2.5%	40	$9,980,000	$249,500
4-5%	5	$1,245,000	$249,000

During 2020, Warsaw Federal Savings And Loan Association's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 214 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	202	$56,990,000	$282,129	$3,424	2.91%
$100k-200k	125	$19,945,000	$159,560	$2,811	2.98%
$400k-600k	22	$10,010,000	$455,000	$3,164	2.96%
$100,000 or less	19	$1,405,000	$73,947	$2,388	3.17%
$600k-1MM	1	$695,000	$695,000	$3,748	3.15%

2020 saw Warsaw Federal Savings And Loan Association place emphasis on $200k-400k loans with 202 originations, totaling $56,990,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	129	$33,865,000	$262,519	$3,043	2.93%
$150k-250k	75	$21,395,000	$285,267	$3,051	2.90%
$50k-75k	64	$11,300,000	$176,563	$3,332	3.04%
$75k-100k	57	$13,205,000	$231,667	$3,672	3.00%
$50k or less	25	$3,065,000	$122,600	$2,625	3.00%
$250k+	18	$6,120,000	$340,000	$2,789	2.80%

Warsaw Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 129 originations. The second most popular income band? $150k-250k, with 75 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	122	$30,070,000	$246,475	$2,947	2.91%
<20%	78	$17,300,000	$221,795	$2,810	2.86%
30-36%	72	$17,390,000	$241,528	$3,088	3.01%
41%	15	$3,615,000	$241,000	$3,349	3.20%
44%	10	$3,000,000	$300,000	$3,092	3.38%
38%	10	$2,030,000	$203,000	$3,062	2.81%
43%	8	$2,260,000	$282,500	$4,264	2.98%
47%	8	$1,980,000	$247,500	$4,104	2.83%
42%	7	$1,775,000	$253,571	$4,947	2.93%
36%	7	$2,115,000	$302,143	$4,737	3.18%
37%	6	$1,360,000	$226,667	$2,803	3.05%
39%	6	$1,600,000	$266,667	$3,054	2.94%
48%	6	$1,250,000	$208,333	$3,654	3.13%
40%	5	$1,265,000	$253,000	$2,940	2.83%
45%	4	$1,020,000	$255,000	$2,987	2.97%
49%	2	$550,000	$275,000	$10,494	2.88%
50-60%	2	$200,000	$100,000	$3,510	3.13%
46%	1	$265,000	$265,000	$2,459	2.50%

Warsaw Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 122 originations. The next most common DTI ratio? <20%, with 78 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	239	$54,425,000	$227,720	$3,270	3.00%
Asian	72	$19,040,000	$264,444	$2,855	2.81%
Asian Indian	21	$6,525,000	$310,714	$2,871	2.76%
Not provided	24	$5,870,000	$244,583	$2,845	2.93%
Black	12	$3,030,000	$252,500	$3,688	3.19%
American Indian	1	$155,000	$155,000	$2,165	3.00%

Approval Rates

Total approvals of all applications
94.85%

Warsaw Federal Savings And Loan Association has an average approval rate.

Pick Rate

Approvals leading to origination
56.91%

Warsaw Federal Savings And Loan Association has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
4889.8	1	$195,000	$195,000
NA	368	$88,850,000	$241,440

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	369	$89,045,000	$241,314

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	15	$2,065,000	$137,667	$2,498	2.93%
40-60%	63	$12,435,000	$197,381	$2,636	2.81%
60-80%	156	$39,860,000	$255,513	$2,771	2.93%
80-100%	133	$34,535,000	$259,662	$3,947	3.03%
Under 20%	1	$15,000	$15,000	$967	3.60%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Warsaw Federal Savings and Loan Association	3533 Warsaw Ave Cincinnati, OH 45205	Full Service B&M	$32,702
Warsaw Federal Savings and Loan Association	6570 Gracely Drive Cincinnati, OH 45233	Full Service B&M	$18,006

For 2020, Warsaw Federal Savings And Loan Association had 2 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$1,370
Net interest income	$839
Total noninterest income	$2,314
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$17
Trading account gains and fees	$0
Additional Noninterest Income	$2,297
Pre-tax net operating income	$-477
Securities gains (or losses, -)	$0
Income before extraordinary items	$-415
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$-415
Minority interest net income	$0
Net income	$-415
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$-415

Warsaw Federal Savings And Loan Association's gross interest income from loans was $1,370,000.
Warsaw Federal Savings And Loan Association's net interest income from loans was $839,000.
Warsaw Federal Savings And Loan Association's fee based income from loans was $17,000.
Warsaw Federal Savings And Loan Association's net income from loans was $-415,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$531
Provision for credit losses	$13
Total noninterest expense	$3,617
Salaries and employee benefits	$2,179
Premises and equipment expense	$194
Additional noninterest expense	$1,244
Applicable income taxes	$-62
Net charge-offs	$37
Cash dividends	$0

Warsaw Federal Savings And Loan Association's interest expense for loans was $531,000.
Warsaw Federal Savings And Loan Association's payroll and benefits expense were $2,179,000.
Warsaw Federal Savings And Loan Association's property, plant and equipment expenses $194,000.

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	1.0%
HELOC loans	0.0%
All other family	1.0%
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	$51,750
Deposits held in domestic offices	$51,750
Deposits by Individuals, partnerships, and corporations	$51,750
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.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$7,329
Demand deposits	$576
Nontransaction accounts	$44,421
Money market deposit accounts (MMDAs)	$59
Other savings deposits (excluding MMDAs)	$12,737
Total time deposits	$31,625
Total time and savings deposits	$51,174
Noninterest-bearing deposits	$4,901
Interest-bearing deposits	$46,849
Retail deposits	$47,497
IRAs and Keogh plan accounts	$8,011
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$58,888
Cash & Balances due from depository institutions	$21,256
Interest-bearing balances	$20,977
Total securities	$8,718
Federal funds sold & reverse repurchase	$0
Net loans and leases	$25,485
Loan and leases loss allowance	$13
Trading account assets	$0
Bank premises and fixed assets	$396
Other real estate owned	$0
Goodwill and other intangibles	$651
All other assets	$2,382

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$58,888
Total Liabilities	$52,270
Total deposits	$51,750
Interest-bearing deposits	$46,849
Deposits held in domestic offices	$51,750
% insured (estimated)	$95
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$520

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$25,485
Loan and leases loss allowance	$13
Total loans and leases (domestic)	$25,498
All real estate loans	$25,489
Real estate loans in domestic offices	$25,489
Construction and development loans	$15
Residential 1-4 family construction	$0
Other construction, all land development and other land	$15
Loans secured by nonfarm nonresidential properties	$1,626
Nonfarm nonresidential secured by owner-occupied properties	$0
Commercial real estate & other non-farm, non-residential	$1,626
Multifamily residential real estate	$182
1-4 family residential loans	$23,666
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$0
To non-U.S. addressees	$0
Loans to individuals	$9
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$0
Other loans to individuals	$9
All other loans & leases	$0
Loans to foreign governments and official institutions	$0
Other loans	$0
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	$516
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Warsaw Federal Savings and Loan Association had $25,485,000 of loans outstanding in 2020. $25,489,000 of loans were in real estate loans. $15,000 of loans were in development loans. $182,000 of loans were in multifamily mortgage loans. $23,666,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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	7	$928	$132,571
Nonfarm, nonresidential loans - <$100k	3	$156	$52,000
Nonfarm, nonresidential loans - $100-250k	3	$324	$108,000
Nonfarm, nonresidential loans - $250k-1MM	1	$448	$448,000