Is Capitol Federal Savings Bank An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Capitol Federal Savings Bank with other lenders for mortgages with similar borrower characteristics:

Interest Rate: lower than average (-0.20%)
Loan Related Closing Costs: similar to average (-$239)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Capitol Federal Savings Bank originated 3260 mortgages, a national market share of 0.1%. It was most active in KS (4.7% market share), MO (0.5% market share), and NE (0.1% market share).

On average, Capitol Federal Savings Bank’s interest rates were lower than those of comparable mortgages at other lenders (-0.20%).1The comparable mortgages control for Capitol Federal Savings Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $2856, which was similar to those of comparable mortgages at $3095, with a difference of -$239. Overall, we estimate that Capitol Federal Savings Bank tends to be an cheap lender, with a cost-adjusted-rate difference of -0.23% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Capitol Federal Savings Bank.

Capitol Federal Savings Bank originated Conforming and Jumbo mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Capitol Federal Savings Bank compared to other lenders

Conforming Jumbo
Interest Rate Difference -0.20% -0.12%
Loan related Closing Cost Difference -$181 +$219
Cost Adjusted Rate Difference -0.23% -0.11%

Based on the table above, Capitol Federal Savings Bank is cheap for Conforming and Jumbo purchase mortgages.

Mortgage Refinancing from Capitol Federal Savings Bank compared to other lenders

Conforming Jumbo
Interest Rate Difference -0.28% -0.15%
Loan Related Closing Cost Difference -$600 -$546
Cost Adjusted Rate Difference -0.35% -0.17%

Based on the table above, Capitol Federal Savings Bank is cheap for Conforming and Jumbo mortgage refinance.

Other information about Capitol Federal Savings Bank:

Regulator: Office of the Comptroller of the Currency (OCC) 
Top holder: CAPITOL FEDERAL FINANCIAL, INC.
Registered city and state: Topeka, KS, 66603-3818

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Footnotes   [ + ]

1. The comparable mortgages control for Capitol Federal Savings Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.