Bank Of Magnolia Company Mortgage Rates, Fees & Info

Magnolia, OH

LEI: 2549004DP0SBHRLH4J27

Tax ID: 34-0083490

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Bank Of Magnolia Company is a smaller bank specializing in Home Purchase loans. Bank Of Magnolia Company has a high proportion of conventional loans. Their top markets by origination volume include: Canton, Toledo, New Philadelphia, Cape Coral, and Akron among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Magnolia Company has an above average approval rate when compared to the average across all 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.

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    Originations

    34

    Origination Dollar Volume (All Markets)

    $5,530,000

    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
    CANTON-MASSILLON, OH (FHA|USDA|VA) 28 $3,590,000 $128,214 $2,534 4.96%
    TOLEDO, OH (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $5,028 4.75%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 2 $560,000 $280,000 $2,866 4.81%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $2,625 5.25%
    AKRON, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.75%
    COLUMBUS, OH (FHA|USDA|VA) 1 $15,000 $15,000 $1,542 5.75%
    Bank Of Magnolia Company's top markets include Canton, Toledo, New Philadelphia, Cape Coral, and Akron among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $5,530,000 $162,647 $2,647 5.00%

    For 2018, Bank Of Magnolia Company's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 23 $4,415,000 $191,957 $2,955 4.92%
    Cash Out Refi 6 $690,000 $115,000 $2,211 5.15%
    Refi 3 $385,000 $128,333 $2,429 5.08%
    Home Improvement 2 $40,000 $20,000 $1,513 5.38%

    For 2018, Bank Of Magnolia Company's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $5,530,000 $162,647 $2,647 5.00%

    For 2018, Bank Of Magnolia Company's most frequently cited loan duration was Other, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 27 $4,535,000 $167,963
    $1k-2k 1 $355,000 $355,000

    Bank Of Magnolia Company's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 27 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 19 $3,985,000 $209,737
    5-6% 15 $1,545,000 $103,000

    During 2018, Bank Of Magnolia Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 15 $2,225,000 $148,333 $2,461 4.78%
    $100,000 or less 14 $930,000 $66,429 $2,108 5.29%
    $200k-400k 3 $875,000 $291,667 $3,382 4.92%
    $1MM+ 1 $1,085,000 $1,085,000 $5,028 4.75%
    $400k-600k 1 $415,000 $415,000 $3,525 4.75%

    2018 saw Bank Of Magnolia Company place emphasis on $100k-200k loans with 15 originations, totaling $2,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $1,570,000 $196,250 $2,437 5.08%
    $75k-100k 6 $880,000 $146,667 $2,582 4.69%
    $50k or less 5 $535,000 $107,000 $2,218 4.70%
    $50k-75k 4 $390,000 $97,500 $2,505 5.16%
    $150k-250k 2 $480,000 $240,000 $3,986 4.88%
    $250k+ 1 $1,085,000 $1,085,000 $5,028 4.75%

    Bank Of Magnolia Company lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 7 $725,000 $103,571 $2,075 4.79%
    <20% 5 $1,535,000 $307,000 $2,849 4.80%
    30-36% 5 $1,105,000 $221,000 $3,213 4.73%
    38% 2 $390,000 $195,000 $2,669 4.88%
    37% 1 $195,000 $195,000 $2,625 5.25%
    39% 1 $145,000 $145,000 $2,206 4.88%

    Bank Of Magnolia Company lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? <20%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 27 $5,035,000 $186,481 $2,647 4.92%
    Not applicable 7 $495,000 $70,714 $0 5.32%

    Approval Rates

    Total approvals of all applications
    100.00%

    Bank Of Magnolia Company 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 34 $5,530,000 $162,647

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 34 $5,530,000 $162,647

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $400,000 $100,000 $1,676 4.91%
    40-60% 5 $555,000 $111,000 $2,673 4.98%
    60-80% 16 $2,370,000 $148,125 $2,761 5.14%
    80-100% 8 $2,190,000 $273,750 $2,932 4.70%
    Under 20% 1 $15,000 $15,000 $1,542 5.75%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF HAWAII CORPORATION Other type of mortgage Trouble during payment process 1 100.0%