Waterford Bank N.a. Mortgage Rates, Fees & Info
Toledo, OHLEI: 549300Z8EM6P4IUIYG50
Tax ID: 11-3809585
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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, Cape Coral, Monroe, Ann Arbor, and Detroit among others. We have data for 11 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
57Origination Dollar Volume (All Markets)
$21,445,000Top 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) | 42 | $12,090,000 | $287,857 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $5,185,000 | $1,728,333 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 56 | $21,000,000 | $375,000 | $0 | 0.00% |
| FHA | 1 | $445,000 | $445,000 | $0 | 0.00% |
For 2024, Waterford Bank N.a.'s most frequently originated type of loan was Conventional, with 56 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 50 | $15,370,000 | $307,400 | $0 | 0.00% |
| Cash Out Refi | 6 | $1,070,000 | $178,333 | $0 | 0.00% |
| Refi | 1 | $5,005,000 | $5,005,000 | $0 | 0.00% |
For 2024, Waterford Bank N.a.'s most frequently cited loan purpose was Home Purchase, with 50 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 57 | $21,445,000 | $376,228 | $0 | 0.00% |
For 2024, Waterford Bank N.a.'s most frequently cited loan duration was Other, with 57 originations.
Loan Sizing
2024 saw Waterford Bank N.a. place emphasis on $200k-400k loans with 23 originations, totaling $6,885,000 in origination value.
Applicant Income
Waterford Bank N.a. lent most frequently to those with incomes in the $250k+ range, with 18 originations. The second most popular income band? $150k-250k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 57 | $21,445,000 | $376,228 | $0 | 0.00% |
Waterford Bank N.a. lent most frequently to those with DTI ratios of Exempt%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.53%
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 origination82.46%
Waterford Bank N.a. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 57 | $21,445,000 | $376,228 |