Western Ohio Mortgage Corporation Rates, Fees & Info
Quincy, OHLEI: 254900OCB5PJQMM6LU72
Tax ID: 31-1640871
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Mortgage Data
Review & Overview
Western Ohio Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Western Ohio Mortgage Corporation has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Sidney, Cincinnati, Dayton, Lexington, and Bellefontaine among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Western Ohio Mortgage Corporation has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Western Ohio Mortgage Corporation is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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Originations
318Origination Dollar Volume (All Markets)
$65,930,000Awards
Western Ohio Mortgage Corporation - 2023
Western Ohio Mortgage Corporation is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Western Ohio Mortgage Corporation's average 30 year fixed mortgage rate was
7.03%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.55%.
Relative Fees (Closing Costs)
Western Ohio Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,291.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Sidney, OH (FHA|USDA|VA) | 104 | $18,440,000 | $177,308 | $6,968 | 6.93% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 70 | $17,850,000 | $255,000 | $8,015 | 7.08% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 44 | $8,500,000 | $193,182 | $7,605 | 7.14% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 8 | $3,510,000 | $438,750 | $9,359 | 7.30% |
| Bellefontaine, OH (FHA|USDA|VA) | 17 | $3,465,000 | $203,824 | $7,951 | 6.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 13 | $1,955,000 | $150,385 | $6,510 | 7.18% |
| Outside of Metro Areas | 9 | $1,755,000 | $195,000 | $6,855 | 7.42% |
| Wapakoneta, OH (FHA|USDA|VA) | 11 | $1,685,000 | $153,182 | $6,925 | 7.00% |
| Urbana, OH (FHA|USDA|VA) | 7 | $1,615,000 | $230,714 | $6,793 | 7.14% |
| COLUMBUS, OH (FHA|USDA|VA) | 6 | $1,410,000 | $235,000 | $9,088 | 7.54% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 7 | $1,095,000 | $156,429 | $6,237 | 6.73% |
| Greenville, OH (FHA|USDA|VA) | 5 | $835,000 | $167,000 | $7,164 | 7.23% |
| Celina, OH (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $6,660 | 7.50% |
| Richmond-Berea, KY (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $18,520 | 7.00% |
| TOLEDO, OH (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $2,549 | 6.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $12,413 | 7.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,195 | 6.50% |
| LIMA, OH (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $6,698 | 6.94% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,785 | 7.00% |
| Washington Court House, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $12,470 | 6.25% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,639 | 5.25% |
| Somerset, KY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,765 | 7.13% |
| Van Wert, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $6,382 | 7.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Western Ohio Mortgage Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, Western Ohio Mortgage Corporation's most frequently originated type of loan was Conventional, with 128 originations. Their 2nd most popular type was FHA, with 117 originations.
Loan Reason
For 2023, Western Ohio Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 291 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.
Loan Duration/Length
For 2023, Western Ohio Mortgage Corporation's most frequently cited loan duration was 30 Year, with 312 originations. The 2nd most popular length was Other, with 4 originations.
Origination Fees/Closing Costs
Western Ohio Mortgage Corporation's average total fees were $7,291, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 109 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 152 | $30,120,000 | $198,158 |
| 7-8% | 145 | $30,965,000 | $213,552 |
| Over 8% | 9 | $2,435,000 | $270,556 |
| 5-6% | 7 | $1,715,000 | $245,000 |
During 2023, Western Ohio Mortgage Corporation's average interest rate for loans was 7.03%, while their most frequently originated rate bucket for loans was 6-7%, with 152 originations.
Loan Sizing
2023 saw Western Ohio Mortgage Corporation place emphasis on $100k-200k loans with 170 originations, totaling $25,960,000 in origination value.
Applicant Income
Western Ohio Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $100k-150k, with 64 originations.
Applicant Debt to Income Ratio
Western Ohio Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 56 originations. The next most common DTI ratio? 20-30%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.22%
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 origination62.26%
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 |
|---|---|---|---|
| NA | 318 | $65,930,000 | $207,327 |