Woodsfield Savings Bank Mortgage Rates, Fees & Info

Woodsfield, OH

LEI: 2549005VXCHU3KAB6N44

Tax ID: 34-0627390

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Mortgage Data

Review & Overview

Woodsfield Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Woodsfield Savings Bank has a high proportion of conventional loans. Their top two markets are Wheeling and Cambridge .

Woodsfield Savings Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

46

Origination Dollar Volume (All Markets)

$7,110,000

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
Outside of Metro Areas 24 $3,660,000 $152,500 $0 0.00%
WHEELING, WV-OH (FHA|USDA|VA) 12 $1,940,000 $161,667 $0 0.00%
Cambridge, OH (FHA|USDA|VA) 10 $1,510,000 $151,000 $0 0.00%
Woodsfield Savings Bank's top markets include Wheeling and Cambridge among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 46 $7,110,000 $154,565 $0 0.00%

    For 2023, Woodsfield Savings Bank's most frequently originated type of loan was Conventional, with 46 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $4,785,000 $154,355 $0 0.00%
    Cash Out Refi 12 $1,870,000 $155,833 $0 0.00%
    Home Improvement 1 $55,000 $55,000 $0 0.00%
    Other 1 $315,000 $315,000 $0 0.00%
    Refi 1 $85,000 $85,000 $0 0.00%

    For 2023, Woodsfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Cash Out Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 46 $7,110,000 $154,565 $0 0.00%

    For 2023, Woodsfield Savings Bank's most frequently cited loan duration was Other, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $1,320,000 $66,000 $0 0.00%
    $100k-200k 13 $1,785,000 $137,308 $0 0.00%
    $200k-400k 12 $3,350,000 $279,167 $0 0.00%
    $600k-1MM 1 $655,000 $655,000 $0 0.00%

    2023 saw Woodsfield Savings Bank place emphasis on $100,000 or less loans with 20 originations, totaling $1,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $1,195,000 $91,923 $0 0.00%
    $150k-250k 11 $2,965,000 $269,545 $0 0.00%
    $100k-150k 7 $1,065,000 $152,143 $0 0.00%
    $75k-100k 7 $1,125,000 $160,714 $0 0.00%
    $50k or less 5 $565,000 $113,000 $0 0.00%

    Woodsfield Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $150k-250k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 46 $7,110,000 $154,565 $0 0.00%

    Woodsfield Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $6,760,000 $160,952 $0 0.00%
    Not applicable 3 $195,000 $65,000 $0 0.00%
    American Indian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.15%

    Woodsfield Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    50.00%

    Woodsfield Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 46 $7,110,000 $154,565

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    46 $7,110,000 $154,565