Waterford Bank N.a. Mortgage Rates, Fees & Info
Toledo, OHLEI: 549300Z8EM6P4IUIYG50
Tax ID: 11-3809585
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Mortgage Data
Review & Overview
Waterford Bank N.a. is a smaller bank specializing in Home Purchase and Refi loans. Waterford Bank N.a. 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.) Their top markets by origination volume include: Toledo, Detroit, Findlay, Adrian, and Orlando among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Waterford Bank N.a. 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.
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Originations
184Origination Dollar Volume (All Markets)
$74,120,000Top 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 |
|---|---|---|---|---|---|
| TOLEDO, OH (FHA|USDA|VA) | 120 | $30,810,000 | $256,750 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 11 | $17,175,000 | $1,561,364 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $3,505,000 | $3,505,000 | $0 | 0.00% |
| Findlay, OH (FHA|USDA|VA) | 6 | $1,910,000 | $318,333 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 3 | $1,515,000 | $505,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $1,365,000 | $273,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $1,325,000 | $1,325,000 | $0 | 0.00% |
| Angola, IN (FHA|USDA|VA) | 1 | $1,265,000 | $1,265,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $1,070,000 | $535,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $955,000 | $955,000 | $0 | 0.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $865,000 | $865,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 0.00% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 180 | $73,320,000 | $407,333 | $0 | 0.00% |
| FHA | 3 | $375,000 | $125,000 | $0 | 0.00% |
| VA | 1 | $425,000 | $425,000 | $0 | 0.00% |
For 2022, Waterford Bank N.a.'s most frequently originated type of loan was Conventional, with 180 originations. Their 2nd most popular type was FHA, with 3 originations.
Loan Reason
For 2022, Waterford Bank N.a.'s most frequently cited loan purpose was Home Purchase, with 125 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 184 | $74,120,000 | $402,826 | $0 | 0.00% |
For 2022, Waterford Bank N.a.'s most frequently cited loan duration was Other, with 184 originations.
Loan Sizing
2022 saw Waterford Bank N.a. place emphasis on $200k-400k loans with 65 originations, totaling $18,815,000 in origination value.
Applicant Income
Waterford Bank N.a. lent most frequently to those with incomes in the $150k-250k range, with 37 originations. The second most popular income band? $100k-150k, with 35 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 184 | $74,120,000 | $402,826 | $0 | 0.00% |
Waterford Bank N.a. lent most frequently to those with DTI ratios of Exempt%, with 184 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.47%
Waterford Bank N.a. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination79.35%
Waterford Bank N.a. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 184 | $74,120,000 | $402,826 |