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 Home Purchase and Refi 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, Somerset, Orlando, and Cleveland among others. We have data for 11 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.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.26%	11/17/24
30 Year Conventional Refi	6.11%	11/17/24
30 Year Cash-out Refi	6.77%	11/17/24
30 Year FHA Purchase	7.49%	11/17/24
30 Year VA Purchase	5.97%	11/17/24
15 Year Conventional Purchase	6.08%	11/17/24
15 Year Conventional Refi	5.84%	11/17/24
15 Year Cash-out Refi	5.84%	11/17/24
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

170

Origination Dollar Volume (All Markets)

$41,480,000

Employee count

Awards

Warsaw Federal Savings and Loan Association 30 Year Conventional Loans silver

Warsaw Federal Savings and Loan Association 30 Year Conventional Loans bronze

Show all (2) 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)	151	$36,485,000	$241,623	$3,356	2.82%
COLUMBUS, OH (FHA\|USDA\|VA)	9	$2,345,000	$260,556	$2,592	2.92%
Somerset, KY (FHA\|USDA\|VA)	2	$750,000	$375,000	$4,147	2.90%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$645,000	$645,000	$3,630	3.00%
CLEVELAND-ELYRIA, OH (FHA\|USDA\|VA)	1	$505,000	$505,000	$3,566	3.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$175,000	$175,000	$2,756	2.88%
Richmond-Berea, KY (FHA\|USDA\|VA)	1	$155,000	$155,000	$2,685	2.75%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,792	3.13%
Scottsburg, IN (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,686	2.25%
WILMINGTON, NC (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,663	3.00%
DAYTON-KETTERING, OH (FHA\|USDA\|VA)	1	$65,000	$65,000	$2,663	2.50%

Warsaw Federal Savings And Loan Association's top markets include Cincinnati, Columbus, Somerset, Orlando, and Cleveland among others.

Their top states include:

Ohio (FHA|USDA|VA)

Kentucky (FHA|USDA|VA)

Indiana (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Pennsylvania (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.

The North Side Bank & Trust Company
Similarity Rank: 246

CINFED Federal Credit Union
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Greenville Federal
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Day Air Credit Union, Inc
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POINT BREEZE
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Sharefax Credit Union
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Securityplus FCU
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Leaders Credit Union
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Eagle Savings Bank
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Kwik Mortgage Corporation
Similarity Rank: 1180

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	164	$39,990,000	$243,841	$3,194	2.83%
FHA	4	$960,000	$240,000	$7,067	2.47%
VA	1	$265,000	$265,000	$4,645	2.88%
USDA	1	$265,000	$265,000	$5,008	2.88%

For 2021, Warsaw Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 164 originations. Their 2nd most popular type was FHA, with 4 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	78	$20,510,000	$262,949	$4,140	2.90%
Refi	73	$15,655,000	$214,452	$2,479	2.71%
Cash Out Refi	14	$3,650,000	$260,714	$2,967	3.05%
Home Improvement	4	$860,000	$215,000	$3,143	2.72%
Other	1	$805,000	$805,000	$3,738	2.98%

For 2021, Warsaw Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 78 originations. The 2nd most popular reason was Refi, with 73 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	112	$28,180,000	$251,607	$3,624	2.94%
15 Year	40	$10,020,000	$250,500	$2,717	2.49%
20 Year	10	$2,320,000	$232,000	$2,769	2.83%
10 Year	6	$600,000	$100,000	$2,355	2.73%
Other	2	$360,000	$180,000	$2,652	3.13%

For 2021, Warsaw Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 112 originations. The 2nd most popular length was 15 Year, with 40 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	128	$31,220,000	$243,906
$1k-2k	20	$4,690,000	$234,500
$3k-4k	8	$1,910,000	$238,750
$4k-5k	6	$1,640,000	$273,333
$2k-3k	4	$990,000	$247,500
$5k+	4	$1,030,000	$257,500

Warsaw Federal Savings And Loan Association's average total fees were $3,624, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 128 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	101	$25,915,000	$256,584
<2.5%	35	$8,575,000	$245,000
3-4%	33	$6,915,000	$209,545
4-5%	1	$75,000	$75,000

During 2021, Warsaw Federal Savings And Loan Association's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 2.5-3%, with 101 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	80	$21,820,000	$272,750	$3,741	2.76%
$100k-200k	63	$9,685,000	$153,730	$2,857	2.89%
$400k-600k	13	$6,325,000	$486,538	$3,318	2.72%
$100,000 or less	10	$760,000	$76,000	$2,586	2.99%
$600k-1MM	4	$2,890,000	$722,500	$3,378	2.93%

2021 saw Warsaw Federal Savings And Loan Association place emphasis on $200k-400k loans with 80 originations, totaling $21,820,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	53	$13,115,000	$247,453	$3,161	2.75%
$50k-75k	32	$5,870,000	$183,438	$3,852	2.96%
$75k-100k	28	$6,580,000	$235,000	$3,682	2.86%
$150k-250k	27	$7,475,000	$276,852	$2,959	2.76%
$250k+	18	$6,790,000	$377,222	$2,999	2.72%
$50k or less	12	$1,650,000	$137,500	$2,832	2.99%

Warsaw Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 53 originations. The second most popular income band? $50k-75k, with 32 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	54	$13,020,000	$241,111	$3,002	2.83%
30-36%	40	$10,960,000	$274,000	$3,493	2.83%
<20%	28	$6,340,000	$226,429	$2,698	2.68%
38%	13	$3,125,000	$240,385	$4,002	2.92%
44%	5	$985,000	$197,000	$4,435	3.07%
43%	4	$1,110,000	$277,500	$3,132	3.00%
39%	4	$790,000	$197,500	$5,343	2.69%
49%	3	$685,000	$228,333	$4,227	3.18%
40%	3	$725,000	$241,667	$2,832	2.95%
45%	3	$825,000	$275,000	$4,001	2.63%
46%	2	$310,000	$155,000	$2,180	2.88%
37%	2	$800,000	$400,000	$4,612	2.75%
36%	2	$510,000	$255,000	$2,472	2.44%
41%	2	$290,000	$145,000	$3,080	2.89%
47%	2	$480,000	$240,000	$4,600	3.19%
42%	2	$330,000	$165,000	$3,203	3.00%
48%	1	$195,000	$195,000	$2,789	2.88%

Warsaw Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 40 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	121	$29,025,000	$239,876	$3,494	2.88%
Asian	27	$6,595,000	$244,259	$2,723	2.58%
Not provided	16	$4,590,000	$286,875	$2,802	2.79%
Black	5	$1,085,000	$217,000	$3,588	2.93%
Asian Indian	1	$185,000	$185,000	$2,676	2.77%

Approval Rates

Total approvals of all applications
96.36%

Warsaw Federal Savings And Loan Association 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
68.24%

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
NA	170	$41,480,000	$244,000

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	170	$41,480,000	$244,000

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	10	$1,570,000	$157,000	$2,358	2.65%
40-60%	21	$4,195,000	$199,762	$2,499	2.76%
60-80%	74	$17,490,000	$236,351	$3,018	2.79%
80-100%	65	$18,225,000	$280,385	$4,036	2.92%

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	$31,920
Warsaw Federal Savings and Loan Association	6570 Gracely Drive Cincinnati, OH 45233	Full Service B&M	$16,710

For 2021, Warsaw Federal Savings And Loan Association had 2 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$1,403
Net interest income	$983
Total noninterest income	$983
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$25
Trading account gains and fees	$0
Additional Noninterest Income	$958
Pre-tax net operating income	$-1,004
Securities gains (or losses, -)	$0
Income before extraordinary items	$-790
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$-790
Minority interest net income	$0
Net income	$-790
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$-790

Warsaw Federal Savings And Loan Association's gross interest income from loans was $1,403,000.
Warsaw Federal Savings And Loan Association's net interest income from loans was $983,000.
Warsaw Federal Savings And Loan Association's fee based income from loans was $25,000.
Warsaw Federal Savings And Loan Association's net income from loans was $-790,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$420
Provision for credit losses	$20
Total noninterest expense	$2,950
Salaries and employee benefits	$1,587
Premises and equipment expense	$241
Additional noninterest expense	$1,122
Applicable income taxes	$-214
Net charge-offs	$-30
Cash dividends	$0

Warsaw Federal Savings And Loan Association's interest expense for loans was $420,000.
Warsaw Federal Savings And Loan Association's payroll and benefits expense were $1,587,000.
Warsaw Federal Savings And Loan Association's property, plant and equipment expenses $241,000.

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	$46,207
Deposits held in domestic offices	$46,207
Deposits by Individuals, partnerships, and corporations	$46,207
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	$8,054
Demand deposits	$733
Nontransaction accounts	$38,153
Money market deposit accounts (MMDAs)	$1,533
Other savings deposits (excluding MMDAs)	$13,826
Total time deposits	$22,794
Total time and savings deposits	$45,474
Noninterest-bearing deposits	$5,519
Interest-bearing deposits	$40,688
Retail deposits	$43,021
IRAs and Keogh plan accounts	$6,800
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$56,951
Cash & Balances due from depository institutions	$11,656
Interest-bearing balances	$11,353
Total securities	$13,684
Federal funds sold & reverse repurchase	$0
Net loans and leases	$27,273
Loan and leases loss allowance	$285
Trading account assets	$0
Bank premises and fixed assets	$378
Other real estate owned	$0
Goodwill and other intangibles	$635
All other assets	$3,325

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$56,951
Total Liabilities	$48,630
Total deposits	$46,207
Interest-bearing deposits	$40,688
Deposits held in domestic offices	$46,207
% insured (estimated)	$95
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$2,000
Subordinated debt	$0
All other liabilities	$423

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$27,273
Loan and leases loss allowance	$285
Total loans and leases (domestic)	$27,558
All real estate loans	$27,554
Real estate loans in domestic offices	$27,554
Construction and development loans	$22
Residential 1-4 family construction	$0
Other construction, all land development and other land	$22
Loans secured by nonfarm nonresidential properties	$2,733
Nonfarm nonresidential secured by owner-occupied properties	$195
Commercial real estate & other non-farm, non-residential	$2,538
Multifamily residential real estate	$0
1-4 family residential loans	$24,799
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	$4
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$0
Other loans to individuals	$4
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Warsaw Federal Savings and Loan Association had $27,273,000 of loans outstanding in 2021. $27,554,000 of loans were in real estate loans. $22,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $24,799,000 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	11	$2,547	$231,545
Nonfarm, nonresidential loans - <$100k	5	$272	$54,400
Nonfarm, nonresidential loans - $100-250k	2	$362	$181,000
Nonfarm, nonresidential loans - $250k-1MM	4	$1,913	$478,250