Waterford Bank N.a. Mortgage Rates, Fees & Info

Toledo, OH

LEI: 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

184

Origination Dollar Volume (All Markets)

$74,120,000

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
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%
Waterford Bank N.a.'s top markets include Toledo, Detroit, Findlay, Adrian, and Orlando among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 125 $41,125,000 $329,000 $0 0.00%
    Cash Out Refi 30 $10,530,000 $351,000 $0 0.00%
    Refi 26 $22,330,000 $858,846 $0 0.00%
    Other 2 $80,000 $40,000 $0 0.00%
    Home Improvement 1 $55,000 $55,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 65 $18,815,000 $289,462 $0 0.00%
    $100k-200k 54 $8,210,000 $152,037 $0 0.00%
    $400k-600k 24 $10,970,000 $457,083 $0 0.00%
    $100,000 or less 20 $1,410,000 $70,500 $0 0.00%
    $600k-1MM 12 $9,880,000 $823,333 $0 0.00%
    $1MM+ 9 $24,835,000 $2,759,444 $0 0.00%

    2022 saw Waterford Bank N.a. place emphasis on $200k-400k loans with 65 originations, totaling $18,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 37 $12,675,000 $342,568 $0 0.00%
    $100k-150k 35 $8,395,000 $239,857 $0 0.00%
    $250k+ 34 $20,400,000 $600,000 $0 0.00%
    $50k-75k 31 $4,695,000 $151,452 $0 0.00%
    $75k-100k 23 $4,435,000 $192,826 $0 0.00%
    $50k or less 5 $605,000 $121,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 147 $45,275,000 $307,993 $0 0.00%
    Not applicable 15 $22,315,000 $1,487,667 $0 0.00%
    Not provided 14 $3,880,000 $277,143 $0 0.00%
    Black 4 $1,310,000 $327,500 $0 0.00%
    Asian 3 $1,255,000 $418,333 $0 0.00%
    American Indian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.47%

    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 origination
    79.35%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    184 $74,120,000 $402,826