Western Ohio Mortgage Corporation Rates, Fees & Info

Quincy, OH

LEI: 254900OCB5PJQMM6LU72

Tax ID: 31-1640871

5 stars - out of 5 stars, based on 17 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Western Ohio Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Western Ohio Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Cincinnati, Sidney, Dayton, Lexington, and Columbus among others. Western Ohio Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Western Ohio Mortgage Corporation is typically an average fee lendor.


Originations

293

Origination Dollar Volume (All Markets)

$53,575,000
Show all (8) awards

Relative Rate

Western Ohio Mortgage Corporation's average 30 year fixed rate mortgage of loans were 2.87%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.28%.

Relative Fees

Western Ohio Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $4,438.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 73 $16,215,000 $222,123 $4,189 2.78%
Sidney, OH (FHA|USDA|VA) 81 $10,855,000 $134,012 $4,232 2.83%
DAYTON-KETTERING, OH (FHA|USDA|VA) 42 $8,190,000 $195,000 $4,352 2.90%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 19 $3,975,000 $209,211 $4,018 2.78%
Outside of Metro Areas 15 $3,365,000 $224,333 $4,152 3.02%
COLUMBUS, OH (FHA|USDA|VA) 9 $2,365,000 $262,778 $4,124 2.65%
Urbana, OH (FHA|USDA|VA) 8 $1,110,000 $138,750 $4,538 2.67%
Bellefontaine, OH (FHA|USDA|VA) 6 $980,000 $163,333 $4,011 2.71%
Wapakoneta, OH (FHA|USDA|VA) 5 $815,000 $163,000 $4,286 2.68%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 4 $770,000 $192,500 $6,859 3.22%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 3 $705,000 $235,000 $6,287 2.67%
AKRON, OH (FHA|USDA|VA) 4 $560,000 $140,000 $4,974 3.13%
Danville, KY (FHA|USDA|VA) 2 $550,000 $275,000 $3,269 2.63%
LIMA, OH (FHA|USDA|VA) 3 $395,000 $131,667 $5,485 2.71%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,083 2.75%
Greenville, OH (FHA|USDA|VA) 4 $360,000 $90,000 $4,324 2.81%
Findlay, OH (FHA|USDA|VA) 2 $290,000 $145,000 $4,516 3.25%
Frankfort, KY (FHA|USDA|VA) 1 $215,000 $215,000 $7,191 2.63%
Celina, OH (FHA|USDA|VA) 2 $210,000 $105,000 $3,270 2.63%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $205,000 $205,000 $2,368 2.88%
Wilmington, OH (FHA|USDA|VA) 1 $195,000 $195,000 $3,632 3.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,980 3.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,768 2.88%
Portsmouth, OH (FHA|USDA|VA) 1 $145,000 $145,000 $6,254 3.00%
SPRINGFIELD, OH (FHA|USDA|VA) 1 $125,000 $125,000 $2,839 2.75%
Richmond-Berea, KY (FHA|USDA|VA) 1 $95,000 $95,000 $3,392 2.50%
London, KY (FHA|USDA|VA) 1 $85,000 $85,000 $4,447 3.75%
Chillicothe, OH (FHA|USDA|VA) 1 $75,000 $75,000 $4,161 3.38%

Western Ohio Mortgage Corporation's top markets include Cincinnati, Sidney, Dayton, Lexington, and Columbus among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 181 $36,005,000 $198,923 $3,262 2.83%
USDA 51 $6,225,000 $122,059 $4,691 2.79%
FHA 49 $8,845,000 $180,510 $6,965 2.90%
VA 12 $2,500,000 $208,333 $7,338 2.75%

For the 2021 period, Western Ohio Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 181 originations. Their 2nd most popular type is USDA, with 51 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 149 $26,795,000 $179,832 $5,058 2.89%
Refi 100 $19,230,000 $192,300 $3,514 2.71%
Cash Out Refi 44 $7,550,000 $171,591 $3,536 2.91%

For the 2021, Western Ohio Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 149 originations. The 2nd most popular reason of loans were Refi, with 100 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 258 $45,470,000 $176,240 $4,438 2.87%
15 Year 27 $5,425,000 $200,926 $3,022 2.46%
20 Year 5 $1,985,000 $397,000 $2,755 2.80%
Other 3 $695,000 $231,667 $5,565 2.83%

For the 2021, Western Ohio Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 258 originations. The 2nd most popular length of loans were 15 Year, with 27 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 192 $31,990,000 $166,615
$<1k 83 $16,635,000 $200,422
$2k-3k 8 $1,110,000 $138,750
$3k-4k 7 $1,855,000 $265,000

$4,438 of loans were Western Ohio Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 192 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 193 $34,645,000 $179,508
3-4% 52 $9,260,000 $178,077
<2.5% 45 $9,375,000 $208,333
4-5% 3 $295,000 $98,333

During 2021, Western Ohio Mortgage Corporation's average interest rate of loans were 2.87%, while their most frequently originated rate bucket of loans were 2.5-3%, with 193 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 128 $18,790,000 $146,797 $4,322 2.87%
$200k-400k 97 $26,375,000 $271,907 $4,766 2.74%
$100,000 or less 61 $4,565,000 $74,836 $3,580 2.91%
$400k-600k 6 $2,610,000 $435,000 $3,271 2.65%
$1MM+ 1 $1,235,000 $1,235,000 $0 3.25%

2021 saw Western Ohio Mortgage Corporation place emphasis on $100k-200k loans with 128 originations, totaling $18,790,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 86 $13,810,000 $160,581 $4,493 2.89%
$50k or less 84 $9,750,000 $116,071 $4,247 2.84%
$75k-100k 53 $10,395,000 $196,132 $4,489 2.83%
$100k-150k 44 $10,270,000 $233,409 $4,155 2.76%
$150k-250k 18 $6,500,000 $361,111 $3,975 2.86%
$250k+ 8 $2,850,000 $356,250 $2,783 2.47%

Western Ohio Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 86 originations. The second most popular income band? $50k or less, with 84 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 70 $11,220,000 $160,286 $3,638 2.81%
30-36% 47 $8,265,000 $175,851 $4,377 2.81%
<20% 29 $5,745,000 $198,103 $3,533 2.69%
50-60% 16 $4,410,000 $275,625 $7,756 2.96%
41% 13 $2,025,000 $155,769 $4,640 2.88%
44% 13 $2,645,000 $203,462 $4,613 2.93%
38% 12 $2,130,000 $177,500 $4,406 2.77%
39% 12 $2,240,000 $186,667 $3,913 2.78%
42% 11 $2,005,000 $182,273 $3,665 2.97%
36% 11 $1,655,000 $150,455 $4,189 2.80%
40% 11 $2,045,000 $185,909 $5,084 2.81%
43% 11 $1,925,000 $175,000 $4,483 2.88%
45% 8 $1,800,000 $225,000 $4,031 2.97%
37% 8 $1,210,000 $151,250 $4,936 2.97%
49% 7 $1,585,000 $226,429 $5,013 2.54%
48% 6 $1,330,000 $221,667 $3,313 2.94%
47% 5 $1,035,000 $207,000 $4,534 2.93%
46% 2 $240,000 $120,000 $5,583 3.88%
>60% 1 $65,000 $65,000 $2,887 2.63%

Western Ohio Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 70 originations. The next most common DTI ratio? 30-36%, with 47 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 242 $40,810,000 $168,636 $4,258 2.82%
Black 35 $6,825,000 $195,000 $4,847 2.99%
Asian 14 $4,540,000 $324,286 $3,260 2.65%
Not provided 1 $1,235,000 $1,235,000 $0 3.25%
American Indian 1 $165,000 $165,000 $7,389 2.88%

Approval Rates

Total approvals of all applications
95.50%

Western Ohio Mortgage Corporation 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
68.51%

Western Ohio Mortgage Corporation 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
0.0 1 $365,000 $365,000
NA 292 $53,210,000 $182,226

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
293 $53,575,000 $182,850

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 3 $455,000 $151,667 $3,238 2.58%
40-60% 25 $4,635,000 $185,400 $3,219 2.76%
60-80% 84 $17,130,000 $203,929 $3,302 2.83%
80-100% 170 $29,370,000 $172,765 $4,765 2.85%
Over 100% 11 $1,985,000 $180,455 $7,204 2.75%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
WESTERN ALLIANCE BANCORPORATION Conventional home mortgage Trouble during payment process 2 100.0%