Western Ohio Mortgage Corporation Rates, Fees & Info

Quincy, OH

LEI: 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. They have a a high proportion of FHA loans. Western Ohio Mortgage Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Lexington, Sidney, Dayton, and Mount Sterling among others. We have data for 26 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 about average rates.

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

433

Origination Dollar Volume (All Markets)

$63,675,000

Awards

Western Ohio Mortgage Corporation FHA Loans gold Western Ohio Mortgage Corporation USDA Loans gold Western Ohio Mortgage Corporation FHA Loans gold Western Ohio Mortgage Corporation USDA Loans gold
Show all (4) awards

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
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 124 $20,870,000 $168,306 $5,678 4.90%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 56 $10,170,000 $181,607 $5,665 4.84%
Sidney, OH (FHA|USDA|VA) 72 $8,650,000 $120,139 $4,789 4.76%
DAYTON-KETTERING, OH (FHA|USDA|VA) 28 $3,800,000 $135,714 $4,873 4.79%
Mount Sterling, KY (FHA|USDA|VA) 25 $2,915,000 $116,600 $5,031 5.10%
CANTON-MASSILLON, OH (FHA|USDA|VA) 22 $2,730,000 $124,091 $5,802 4.93%
Outside of Metro Areas 19 $2,695,000 $141,842 $5,760 4.84%
Richmond-Berea, KY (FHA|USDA|VA) 11 $1,905,000 $173,182 $5,161 5.15%
Bellefontaine, OH (FHA|USDA|VA) 17 $1,665,000 $97,941 $4,861 4.76%
Danville, KY (FHA|USDA|VA) 12 $1,280,000 $106,667 $5,366 4.86%
Wapakoneta, OH (FHA|USDA|VA) 6 $950,000 $158,333 $5,538 4.65%
Frankfort, KY (FHA|USDA|VA) 5 $855,000 $171,000 $4,184 5.15%
AKRON, OH (FHA|USDA|VA) 5 $825,000 $165,000 $5,148 4.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 5 $815,000 $163,000 $6,371 4.93%
Greenville, OH (FHA|USDA|VA) 7 $645,000 $92,143 $4,576 5.07%
Wilmington, OH (FHA|USDA|VA) 4 $590,000 $147,500 $5,122 4.94%
LOUISVILLE, KY (FHA|USDA|VA) 1 $455,000 $455,000 $4,589 4.75%
Urbana, OH (FHA|USDA|VA) 3 $315,000 $105,000 $5,861 4.71%
SPRINGFIELD, OH (FHA|USDA|VA) 2 $310,000 $155,000 $3,972 4.75%
Bedford, IN (FHA|USDA|VA) 1 $265,000 $265,000 $4,132 4.75%
Ashtabula, OH (FHA|USDA|VA) 2 $230,000 $115,000 $5,510 5.00%
Celina, OH (FHA|USDA|VA) 2 $190,000 $95,000 $4,740 5.13%
Wooster, OH (FHA|USDA|VA) 1 $175,000 $175,000 $7,523 4.75%
COLUMBUS, OH (FHA|USDA|VA) 1 $165,000 $165,000 $3,726 5.00%
LIMA, OH (FHA|USDA|VA) 1 $115,000 $115,000 $6,034 4.75%
TOLEDO, OH (FHA|USDA|VA) 1 $95,000 $95,000 $4,668 5.25%
Western Ohio Mortgage Corporation's top markets include Cincinnati, Lexington, Sidney, Dayton, and Mount Sterling among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • 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.

    Town Square Bank
    Similarity Rank: 90
    MIAMI UNIVERSITY COMMUNITY
    Similarity Rank: 120
    Greenville Federal
    Similarity Rank: 144
    CINCINNATI OHIO POLICE
    Similarity Rank: 172
    New Carlisle Federal Savings Bank
    Similarity Rank: 224
    Firefighters & Company FCU
    Similarity Rank: 235
    Peoples Exchange Bank
    Similarity Rank: 315
    Bank of Lexington, Inc.
    Similarity Rank: 324

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 175 $23,745,000 $135,686 $6,496 4.91%
    Conventional 139 $25,215,000 $181,403 $4,011 4.94%
    USDA 100 $11,460,000 $114,600 $4,873 4.76%
    VA 19 $3,255,000 $171,316 $6,587 4.70%

    For 2018, Western Ohio Mortgage Corporation's most frequently originated type of loan was FHA, with 175 originations. Their 2nd most popular type was Conventional, with 139 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 409 $59,455,000 $145,367 $5,358 4.88%
    Cash Out Refi 15 $2,205,000 $147,000 $5,266 4.93%
    Refi 9 $2,015,000 $223,889 $4,376 4.57%

    For 2018, Western Ohio Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 409 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 425 $62,745,000 $147,635 $5,340 4.88%
    15 Year 6 $770,000 $128,333 $5,702 4.83%
    20 Year 2 $160,000 $80,000 $3,034 4.44%

    For 2018, Western Ohio Mortgage Corporation's most frequently cited loan duration was 30 Year, with 425 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 318 $46,650,000 $146,698
    $2k-3k 75 $9,425,000 $125,667
    $3k-4k 14 $2,490,000 $177,857
    $<1k 13 $2,645,000 $203,462
    $4k-5k 6 $1,300,000 $216,667
    $5k+ 1 $305,000 $305,000

    Western Ohio Mortgage Corporation's average total fees were $5,340, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 318 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 295 $44,235,000 $149,949
    5-6% 117 $15,495,000 $132,436
    3-4% 16 $3,190,000 $199,375
    6-7% 2 $220,000 $110,000

    During 2018, Western Ohio Mortgage Corporation's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 4-5%, with 295 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 231 $32,495,000 $140,671 $5,500 4.90%
    $100,000 or less 127 $10,005,000 $78,780 $4,615 4.94%
    $200k-400k 66 $17,170,000 $260,152 $6,258 4.68%
    $400k-600k 9 $4,005,000 $445,000 $4,496 4.72%

    2018 saw Western Ohio Mortgage Corporation place emphasis on $100k-200k loans with 231 originations, totaling $32,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 178 $18,800,000 $105,618 $4,984 4.89%
    $50k-75k 145 $20,975,000 $144,655 $5,501 4.88%
    $75k-100k 47 $8,635,000 $183,723 $5,562 4.77%
    $100k-150k 35 $7,935,000 $226,714 $6,564 4.86%
    $150k-250k 24 $5,630,000 $234,583 $4,811 4.95%
    $250k+ 4 $1,700,000 $425,000 $5,097 4.63%

    Western Ohio Mortgage Corporation lent most frequently to those with incomes in the $50k or less range, with 178 originations. The second most popular income band? $50k-75k, with 145 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $1,685,000 $187,222 $3,790 4.94%
    30-36% 8 $1,200,000 $150,000 $4,327 4.88%
    <20% 5 $705,000 $141,000 $3,832 4.78%
    49% 4 $860,000 $215,000 $4,147 4.78%
    37% 4 $420,000 $105,000 $4,036 4.97%
    38% 4 $630,000 $157,500 $4,783 4.88%
    42% 3 $585,000 $195,000 $3,722 5.17%
    36% 3 $575,000 $191,667 $4,346 4.79%
    39% 2 $320,000 $160,000 $3,652 4.69%
    43% 2 $680,000 $340,000 $4,352 4.69%
    45% 2 $310,000 $155,000 $3,746 5.06%
    46% 2 $260,000 $130,000 $3,735 4.69%
    40% 1 $125,000 $125,000 $3,702 4.88%
    44% 1 $425,000 $425,000 $4,591 5.25%
    47% 1 $165,000 $165,000 $3,209 4.63%

    Western Ohio Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 380 $54,370,000 $143,079 $5,303 4.86%
    Black 36 $5,810,000 $161,389 $6,025 4.97%
    Asian 12 $2,490,000 $207,500 $4,575 4.88%
    Not provided 2 $420,000 $210,000 $4,333 5.00%
    American Indian 2 $320,000 $160,000 $4,914 5.50%
    Native Hawaiian or Islander 1 $265,000 $265,000 $4,132 4.75%

    Approval Rates

    Total approvals of all applications
    92.22%

    Western Ohio Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.90%

    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 433 $63,675,000 $147,055

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $600,000 $100,000
    Single Family (1-4 Units):Site-Built 427 $63,075,000 $147,717

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $150,000 $75,000 $2,966 5.25%
    40-60% 7 $1,395,000 $199,286 $3,973 4.70%
    60-80% 34 $7,110,000 $209,118 $4,341 4.98%
    80-100% 360 $50,580,000 $140,500 $5,366 4.87%
    Over 100% 27 $3,905,000 $144,630 $6,681 4.77%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    WESTERN OHIO MORTGAGE Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%