Western Ohio Mortgage Corporation Rates, Fees & Info

Quincy, OH

LEI: 254900OCB5PJQMM6LU72

Tax ID: 31-1640871

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 an average proportion of FHA loans. Their top markets by origination volume include: Cincinnati, Sidney, Lexington, Dayton, and Bellefontaine among others. We have data for 31 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.

    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

    454

    Origination Dollar Volume (All Markets)

    $68,840,000

    Awards

    Western Ohio Mortgage Corporation FHA Loans gold Western Ohio Mortgage Corporation USDA Loans gold Western Ohio Mortgage Corporation USDA Loans gold
    Show all (3) 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) 128 $22,540,000 $176,094 $5,158 4.54%
    Sidney, OH (FHA|USDA|VA) 127 $15,685,000 $123,504 $4,602 4.47%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 43 $7,665,000 $178,256 $4,953 4.62%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 39 $6,035,000 $154,744 $4,940 4.58%
    Bellefontaine, OH (FHA|USDA|VA) 21 $2,425,000 $115,476 $4,894 4.65%
    Outside of Metro Areas 16 $2,140,000 $133,750 $5,003 4.85%
    Wapakoneta, OH (FHA|USDA|VA) 13 $1,955,000 $150,385 $5,120 4.67%
    COLUMBUS, OH (FHA|USDA|VA) 9 $1,675,000 $186,111 $5,003 4.65%
    Mount Sterling, KY (FHA|USDA|VA) 9 $1,135,000 $126,111 $6,086 4.82%
    Celina, OH (FHA|USDA|VA) 6 $820,000 $136,667 $6,450 4.83%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $710,000 $355,000 $3,072 4.44%
    Richmond-Berea, KY (FHA|USDA|VA) 3 $695,000 $231,667 $4,810 5.04%
    LIMA, OH (FHA|USDA|VA) 5 $685,000 $137,000 $4,725 4.83%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $550,000 $275,000 $2,905 4.69%
    Frankfort, KY (FHA|USDA|VA) 3 $475,000 $158,333 $5,702 4.96%
    Greenville, OH (FHA|USDA|VA) 3 $475,000 $158,333 $5,077 4.71%
    Urbana, OH (FHA|USDA|VA) 4 $470,000 $117,500 $4,035 4.16%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,186 4.88%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 4 $360,000 $90,000 $5,287 4.91%
    Wilmington, OH (FHA|USDA|VA) 2 $340,000 $170,000 $7,026 3.94%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $295,000 $98,333 $5,754 4.58%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $225,000 $225,000 $2,768 3.88%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $215,000 $215,000 $6,050 6.25%
    AKRON, OH (FHA|USDA|VA) 2 $190,000 $95,000 $5,323 4.88%
    Washington Court House, OH (FHA|USDA|VA) 1 $135,000 $135,000 $7,792 4.63%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.45%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $115,000 $115,000 $5,225 3.50%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $105,000 $105,000 $3,253 4.00%
    SPRINGFIELD, OH (FHA|USDA|VA) 1 $75,000 $75,000 $3,325 5.50%
    Van Wert, OH (FHA|USDA|VA) 1 $75,000 $75,000 $3,227 4.25%
    Maysville, KY (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.00%
    Western Ohio Mortgage Corporation's top markets include Cincinnati, Sidney, Lexington, Dayton, and Bellefontaine among others.

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

    The North Side Bank & Trust Company
    Similarity Rank: 55
    CINFED Federal Credit Union
    Similarity Rank: 162
    COMMONWEALTH
    Similarity Rank: 240
    KH NETWORK CREDIT UNION
    Similarity Rank: 304
    Peoples Exchange Bank
    Similarity Rank: 344
    Columbus Metro Federal Credit Union
    Similarity Rank: 392
    HOPEWELL Federal Credit Union
    Similarity Rank: 510
    First Federal Savings and Loan Association
    Similarity Rank: 575
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 578
    EDUCATION FIRST CREDIT UNION, INC.
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 190 $33,010,000 $173,737 $3,631 4.55%
    FHA 143 $20,115,000 $140,664 $6,427 4.74%
    USDA 89 $10,295,000 $115,674 $4,886 4.39%
    VA 32 $5,420,000 $169,375 $6,216 4.52%

    For 2019, Western Ohio Mortgage Corporation's most frequently originated type of loan was Conventional, with 190 originations. Their 2nd most popular type was FHA, with 143 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 379 $54,645,000 $144,182 $5,097 4.61%
    Refi 38 $8,090,000 $212,895 $3,618 4.21%
    Cash Out Refi 37 $6,105,000 $165,000 $4,727 4.57%

    For 2019, Western Ohio Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 379 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 425 $64,315,000 $151,329 $5,026 4.59%
    15 Year 19 $2,745,000 $144,474 $3,319 4.18%
    Other 6 $1,350,000 $225,000 $4,399 4.35%
    20 Year 4 $430,000 $107,500 $4,457 4.56%

    For 2019, 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 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 341 $50,425,000 $147,874
    $2k-3k 54 $7,100,000 $131,481
    $<1k 27 $5,595,000 $207,222
    $3k-4k 10 $1,590,000 $159,000
    $4k-5k 6 $790,000 $131,667
    $5k+ 4 $1,230,000 $307,500

    Western Ohio Mortgage Corporation's average total fees were $5,026, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 341 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 277 $42,025,000 $151,715
    3-4% 90 $16,680,000 $185,333
    5-6% 84 $9,570,000 $113,929
    6-7% 2 $290,000 $145,000
    Over 8% 1 $275,000 $275,000

    During 2019, Western Ohio Mortgage Corporation's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 277 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 232 $33,300,000 $143,534 $5,135 4.58%
    $100,000 or less 133 $10,425,000 $78,383 $4,364 4.71%
    $200k-400k 80 $20,930,000 $261,625 $5,182 4.39%
    $400k-600k 9 $4,185,000 $465,000 $6,545 4.03%

    2019 saw Western Ohio Mortgage Corporation place emphasis on $100k-200k loans with 232 originations, totaling $33,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 187 $20,115,000 $107,567 $4,804 4.66%
    $50k-75k 116 $17,650,000 $152,155 $5,249 4.58%
    $75k-100k 73 $13,515,000 $185,137 $5,010 4.40%
    $100k-150k 45 $9,665,000 $214,778 $4,667 4.44%
    $150k-250k 26 $6,400,000 $246,154 $5,159 4.52%
    $250k+ 7 $1,495,000 $213,571 $3,905 4.93%

    Western Ohio Mortgage Corporation lent most frequently to those with incomes in the $50k or less range, with 187 originations. The second most popular income band? $50k-75k, with 116 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 92 $14,270,000 $155,109 $4,799 4.50%
    20-30% 81 $11,515,000 $142,160 $4,441 4.52%
    38% 29 $4,075,000 $140,517 $4,675 4.52%
    40% 21 $3,225,000 $153,571 $5,203 4.57%
    <20% 20 $3,130,000 $156,500 $3,851 4.50%
    41% 20 $3,190,000 $159,500 $5,495 4.58%
    42% 19 $3,115,000 $163,947 $4,744 4.51%
    36% 18 $2,440,000 $135,556 $5,260 4.60%
    48% 18 $2,830,000 $157,222 $5,525 4.81%
    43% 17 $3,185,000 $187,353 $5,476 4.53%
    47% 17 $2,325,000 $136,765 $5,117 4.77%
    50-60% 17 $2,915,000 $171,471 $6,642 4.46%
    39% 16 $2,370,000 $148,125 $5,000 4.56%
    44% 16 $2,210,000 $138,125 $4,186 4.73%
    37% 15 $2,385,000 $159,000 $5,192 4.81%
    49% 9 $1,745,000 $193,889 $4,918 4.44%
    45% 9 $1,165,000 $129,444 $4,699 4.49%
    46% 8 $1,070,000 $133,750 $6,670 4.72%
    >60% 1 $265,000 $265,000 $13,042 4.25%

    Western Ohio Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 92 originations. The next most common DTI ratio? 20-30%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 396 $59,610,000 $150,530 $4,917 4.55%
    Black 42 $5,680,000 $135,238 $5,202 4.82%
    Asian 11 $2,515,000 $228,636 $4,820 4.68%
    Not provided 2 $510,000 $255,000 $4,186 4.66%
    American Indian 2 $340,000 $170,000 $6,528 4.38%
    Native Hawaiian or Islander 1 $185,000 $185,000 $3,755 4.00%

    Approval Rates

    Total approvals of all applications
    95.81%

    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
    70.48%

    Western Ohio Mortgage Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1898.0 1 $65,000 $65,000
    NA 453 $68,775,000 $151,821

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $570,000 $95,000
    Single Family (1-4 Units):Site-Built 448 $68,270,000 $152,388

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $320,000 $160,000 $3,291 4.81%
    40-60% 18 $2,540,000 $141,111 $3,598 4.58%
    60-80% 65 $10,635,000 $163,615 $3,754 4.53%
    80-100% 342 $51,780,000 $151,404 $5,163 4.58%
    Over 100% 23 $3,105,000 $135,000 $6,125 4.52%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WESTERN UNION COMPANY, THE Conventional home mortgage Trouble during payment process 7 70.0%
    WESTERN UNION COMPANY, THE Home equity loan or line of credit (HELOC) Trouble during payment process 1 10.0%
    WESTERN UNION COMPANY, THE Other type of mortgage Trouble during payment process 2 20.0%