Westfield Bank Fsb Mortgage Rates, Fees & Info

Westfield Center, OH

LEI: HDU55UX4CXD9YSL1U194

Tax ID: 34-1940362

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Mortgage Data

Review & Overview

Westfield Bank Fsb is a smaller bank specializing in Home Purchase loans. Westfield Bank Fsb has a high proportion of conventional loans. Their top markets by origination volume include: Cleveland, Canton, Akron, Naples, and Jamestown among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Westfield Bank Fsb 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.

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 5.97% 7/11/24
30 Year Conventional Refi 5.89% 7/11/24
30 Year Cash-out Refi 6.23% 7/11/24
15 Year Conventional Purchase 5.95% 7/11/24
15 Year Conventional Refi 5.87% 7/11/24
15 Year Cash-out Refi 5.87% 7/11/24
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.

Westfield Bank Fsb Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Westfield Bank Fsb. 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)

$69,800,000

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
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 74 $33,250,000 $449,324 $0 0.00%
CANTON-MASSILLON, OH (FHA|USDA|VA) 46 $17,690,000 $384,565 $0 0.00%
AKRON, OH (FHA|USDA|VA) 30 $9,100,000 $303,333 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $2,605,000 $2,605,000 $0 0.00%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $785,000 $785,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $775,000 $775,000 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $740,000 $370,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $725,000 $725,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $690,000 $345,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 2 $650,000 $325,000 $0 0.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
Ashland, OH (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
Ashtabula, OH (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Wooster, OH (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Zanesville, OH (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Sandusky, OH (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Westfield Bank Fsb's top markets include Cleveland, Canton, Akron, Naples, and Jamestown among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Westfield Bank FSB based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRESTONE
    Similarity Rank: 9
    CANTON SCHOOL EMPLOYEES
    Similarity Rank: 252
    Community Star Credit Union
    Similarity Rank: 465
    Ohio Catholic Federal Credit Union
    Similarity Rank: 504
    The Middlefield Banking Company
    Similarity Rank: 725
    CARDINAL CREDIT UNION, INC.
    Similarity Rank: 756
    MYCUMORTGAGE, LLC
    Similarity Rank: 1368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 170 $69,800,000 $410,588 $0 0.00%

    For 2023, Westfield Bank Fsb's most frequently originated type of loan was Conventional, with 170 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 138 $59,890,000 $433,986 $0 0.00%
    Home Improvement 12 $310,000 $25,833 $0 0.00%
    Cash Out Refi 8 $2,730,000 $341,250 $0 0.00%
    Other 6 $3,830,000 $638,333 $0 0.00%
    Refi 6 $3,040,000 $506,667 $0 0.00%

    For 2023, Westfield Bank Fsb's most frequently cited loan purpose was Home Purchase, with 138 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 170 $69,800,000 $410,588 $0 0.00%

    For 2023, Westfield Bank Fsb's most frequently cited loan duration was Other, with 170 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 46 $13,630,000 $296,304 $0 0.00%
    $400k-600k 41 $20,545,000 $501,098 $0 0.00%
    $100k-200k 36 $5,680,000 $157,778 $0 0.00%
    $600k-1MM 22 $16,390,000 $745,000 $0 0.00%
    $100,000 or less 16 $660,000 $41,250 $0 0.00%
    $1MM+ 9 $12,895,000 $1,432,778 $0 0.00%

    2023 saw Westfield Bank Fsb place emphasis on $200k-400k loans with 46 originations, totaling $13,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 52 $23,980,000 $461,154 $0 0.00%
    $250k+ 34 $24,860,000 $731,176 $0 0.00%
    $100k-150k 33 $10,735,000 $325,303 $0 0.00%
    $50k-75k 21 $2,615,000 $124,524 $0 0.00%
    $75k-100k 13 $2,255,000 $173,462 $0 0.00%
    $50k or less 7 $1,045,000 $149,286 $0 0.00%

    Westfield Bank Fsb lent most frequently to those with incomes in the $150k-250k range, with 52 originations. The second most popular income band? $250k+, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 170 $69,800,000 $410,588 $0 0.00%

    Westfield Bank Fsb lent most frequently to those with DTI ratios of Exempt%, with 170 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 150 $61,370,000 $409,133 $0 0.00%
    Not provided 10 $3,900,000 $390,000 $0 0.00%
    Not applicable 8 $3,870,000 $483,750 $0 0.00%
    Asian 1 $395,000 $395,000 $0 0.00%
    Black 1 $265,000 $265,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.38%

    Westfield Bank Fsb 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
    89.41%

    Westfield Bank Fsb has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 170 $69,800,000 $410,588

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    170 $69,800,000 $410,588