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Third Federal Savings and Loan

Cleveland, OH

Third Federal Savings and Loan processed 48,881 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 21,958 loans with a 33.8% denial rate. Other was the primary loan purpose. Based in Cleveland, OH. The approval rate of 44.9% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Third Federal Savings and Loan's 44.9% origination rate tells you how often an application turned into funded money; the 33.8% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (48,881 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

48,881
Applications
21,958
Originated
33.8%
Denial Rate
$145,760
Avg Loan Amount
Avg Interest Rate: 7.347% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 48,881 21,958 16,503 $145,760

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Third Federal Savings and Loan (LEI: 5493008CPTDVOS570626) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
11,227
Credit history
8,932
Collateral
2,823
Other
1,371
Credit application incomplete
369
Insufficient cash
96
Unverifiable information
18
Employment history
11

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 17,362 7,506 $105,244
Home Improvement 13,284 6,761 $101,055
Refinancing 9,329 5,118 $162,509
Home Purchase 8,517 2,382 $274,802
Cash-out Refinancing 389 191 $253,766

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 34,652 47.7% 31.8%
Asian 3,226 41.0% 39.5%
Black or African American 2,629 27.9% 48.2%
Joint 1,017 49.7% 33.3%
American Indian or Alaska Native 235 30.2% 51.9%
2 or more minority races 144 13.9% 71.5%
Native Hawaiian or Other Pacific Islander 92 26.1% 58.7%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 36,776 47.1% 31.9%
Hispanic or Latino 3,932 31.9% 51.7%
Joint 1,507 40.6% 41.7%

Nearby Lenders in OH

Other HMDA-reporting lenders in OH with similar activity. Compare any two side-by-side.

Us Bank, N.A.

CINCINNATI, OH

202,480 apps 74,512 originated 26.8% denied

Crosscountry Mortgage, LLC

Cleveland, OH

157,258 apps 101,894 originated 2.4% denied

JPMorgan Chase Bank, NA

Columbus, OH

150,113 apps 80,744 originated 8.1% denied

Huntington National Bank

Columbus, OH

99,675 apps 52,025 originated 28.8% denied

Fifth Third Bank, National Association

Cincinnati, OH

64,220 apps 30,494 originated 23.9% denied
Compare Third Federal Savings and Loan vs Us Bank, N.A. →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Third Federal Savings and Loan process?
Third Federal Savings and Loan processed 48,881 mortgage applications in the 2024 HMDA reporting year. Of these, 21,958 were originated (approved and funded), 2,821 were withdrawn by the applicant, and 16,503 were denied.
What is Third Federal Savings and Loan's mortgage approval rate?
Third Federal Savings and Loan has an approval (origination) rate of 44.9%, meaning 44.9% of all applications resulted in a funded mortgage. The denial rate is 33.8%.
What is the average loan amount at Third Federal Savings and Loan?
The average mortgage loan amount at Third Federal Savings and Loan is $145,760. The average interest rate is 7.347%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at Third Federal Savings and Loan?
The most common reasons for mortgage denial at Third Federal Savings and Loan are: Debt-to-income ratio, Credit history, Collateral. In total, 16,503 applications were denied out of 48,881 total applications.
What types of mortgage loans does Third Federal Savings and Loan offer?
Third Federal Savings and Loan processes Conventional loans. The most common type is Conventional with 48,881 applications and an average loan amount of $145,760.
What loan purposes does Third Federal Savings and Loan serve?
Third Federal Savings and Loan serves the following loan purposes: Other (17,362 applications), Home Improvement (13,284 applications), Refinancing (9,329 applications), Home Purchase (8,517 applications), Cash-out Refinancing (389 applications). Other is the most common purpose.
Where is Third Federal Savings and Loan located?
Third Federal Savings and Loan is headquartered in Cleveland, OH. The lender is identified by LEI 5493008CPTDVOS570626 in HMDA data.
How does Third Federal Savings and Loan compare in lending across racial demographics?
Third Federal Savings and Loan reports demographic lending data under HMDA requirements. White applicants have an approval rate of 47.7% and denial rate of 31.8%; Asian applicants have an approval rate of 41.0% and denial rate of 39.5%; Black or African American applicants have an approval rate of 27.9% and denial rate of 48.2%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.