In many cases, power transformers can continue their normal operation despite mechanical defects in their windings. However, estimating the lifespan and assessing the risk of using a transformer with mechanical defects depend on detailed studies of insulation aging and the distribution of transient voltages along the winding, and consequently, the likelihood of partial discharge. Risk assessment studies can only be effectively conducted through accurate modeling of transformers across a wide frequency range. In this study, an attempt has been made to investigate the impact of winding mechanical defects on the transformer equivalent circuits parameters using finite element method precisely modeling of transformer windings, without applying approximation or common simplifications. To compare the effect of each mechanical defect on the resistance, inductance, and capacitance matrices arrays, an index called fault classification accuracy has been used. The investigations have shown that the capacitance matrix arrays undergo the most significant changes for all types of modeled defects in this research. To examine the impact of defects on the transformer frequency response, a π coupled model that directly uses output matrices of finite element modeling has been employed. The sensitivity of various components of frequency response has also been investigated for the used model.