Cinfed Federal Credit Union Mortgage Rates, Fees & Info
Cincinnati, OHLEI: 549300YJQ7L8XG0WT572
Tax ID: 31-0859064
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Mortgage Data
Review & Overview
Cinfed Federal Credit Union is a smaller credit union specializing in Refi loans. Cinfed Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Louisville, Wilmington, Richmond, and Madison among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Cinfed Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cinfed Federal Credit Union 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.31% | 5/4/24 |
| 30 Year Conventional Purchase | 6.28% | 5/4/24 |
| 30 Year Conventional Refi | 6.31% | 5/4/24 |
| 30 Year Cash-out Refi | 6.22% | 5/4/24 |
| 15 Year Conventional Purchase | 5.77% | 5/4/24 |
| 15 Year Conventional Refi | 5.95% | 5/4/24 |
| 15 Year Cash-out Refi | 5.95% | 5/4/24 |
| 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. | ||
Cinfed Federal Credit Union Mortgage Calculator
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This is not an official calculator from Cinfed Federal Credit Union. 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
367Origination Dollar Volume (All Markets)
$42,105,000Awards
CINFED Federal Credit Union - 2020
CINFED Federal Credit Union is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 347 | $40,825,000 | $117,651 | $811 | 3.39% |
| Outside of Metro Areas | 15 | $545,000 | $36,333 | $0 | 3.55% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $499 | 2.63% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,262 | 3.50% |
| Richmond, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $499 | 3.25% |
| Madison, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.13% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against CINFED Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 350
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Similarity Rank: 1425
Similarity Rank: 1612
Similarity Rank: 1750
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 208 | $10,680,000 | $51,346 | n/a | 3.58% |
| Conventional | 159 | $31,425,000 | $197,642 | $822 | 3.14% |
For 2020, Cinfed Federal Credit Union's most frequently originated type of loan was HELOC, with 208 originations. Their 2nd most popular type was Conventional, with 159 originations.
Loan Reason
For 2020, Cinfed Federal Credit Union's most frequently cited loan purpose was Refi, with 128 originations. The 2nd most popular reason was Other, with 80 originations.
Loan Duration/Length
For 2020, Cinfed Federal Credit Union's most frequently cited loan duration was 20 Year, with 232 originations. The 2nd most popular length was 30 Year, with 78 originations.
Origination Fees/Closing Costs
Cinfed Federal Credit Union's average total fees were $830, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 146 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 161 | $21,085,000 | $130,963 |
| 3-4% | 151 | $18,265,000 | $120,960 |
| 4-5% | 43 | $1,985,000 | $46,163 |
| 5-6% | 8 | $310,000 | $38,750 |
| <2.5% | 4 | $460,000 | $115,000 |
During 2020, Cinfed Federal Credit Union's average interest rate for loans was 3.24%, while their most frequently originated rate bucket for loans was 2.5-3%, with 161 originations.
Loan Sizing
2020 saw Cinfed Federal Credit Union place emphasis on $100,000 or less loans with 213 originations, totaling $9,235,000 in origination value.
Applicant Income
Cinfed Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 97 originations. The second most popular income band? $75k-100k, with 79 originations.
Applicant Debt to Income Ratio
Cinfed Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 131 originations. The next most common DTI ratio? <20%, with 81 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.41%
Cinfed Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination52.04%
Cinfed Federal Credit Union 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 | 367 | $42,105,000 | $114,728 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 367 | $42,105,000 | $114,728 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMPUTER SCIENCES CORPORATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 100.0% |