Bank Of Magnolia Company Mortgage Rates, Fees & Info
Magnolia, OHLEI: 2549004DP0SBHRLH4J27
Tax ID: 34-0083490
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Bank Of Magnolia Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bank Of Magnolia Company has a high proportion of conventional loans. Their top markets by origination volume include: Canton, Lakeland, Akron, New Philadelphia, and Arcadia 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
32Origination Dollar Volume (All Markets)
$5,600,000Top 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) | 23 | $3,905,000 | $169,783 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $0 | 0.00% |
| AKRON, OH (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $0 | 0.00% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 32 | $5,600,000 | $175,000 | $0 | 0.00% |
For 2019, Bank Of Magnolia Company's most frequently originated type of loan was Conventional, with 32 originations.
Loan Reason
For 2019, Bank Of Magnolia Company's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 32 | $5,600,000 | $175,000 | $0 | 0.00% |
For 2019, Bank Of Magnolia Company's most frequently cited loan duration was Other, with 32 originations.
Loan Sizing
2019 saw Bank Of Magnolia Company place emphasis on $100,000 or less loans with 14 originations, totaling $920,000 in origination value.
Applicant Income
Bank Of Magnolia Company lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $75k-100k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 32 | $5,600,000 | $175,000 | $0 | 0.00% |
Bank Of Magnolia Company lent most frequently to those with DTI ratios of Exempt%, with 32 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 24 | $4,570,000 | $190,417 | $0 | 0.00% |
| Not applicable | 8 | $1,030,000 | $128,750 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 32 | $5,600,000 | $175,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 32 | $5,600,000 | $175,000 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF HAWAII CORPORATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 50.0% |
| BANK OF HAWAII CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |
| BANK OF HAWAII CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |