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 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 by origination volume include: Cincinnati, Sidney, Dayton, Lexington, and Columbus among others. We have data for 28 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 a low 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.
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Originations
293Origination Dollar Volume (All Markets)
$53,575,000Awards
Western Ohio Mortgage Corporation - 2021
Western Ohio Mortgage Corporation is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 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, KY (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% |
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 2021, Western Ohio Mortgage Corporation's most frequently originated type of loan was Conventional, with 181 originations. Their 2nd most popular type was USDA, with 51 originations.
Loan Reason
For 2021, Western Ohio Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 149 originations. The 2nd most popular reason was Refi, with 100 originations.
Loan Duration/Length
For 2021, Western Ohio Mortgage Corporation's most frequently cited loan duration was 30 Year, with 258 originations. The 2nd most popular length was 15 Year, with 27 originations.
Origination Fees/Closing Costs
Western Ohio Mortgage Corporation's average total fees were $4,438, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.87%, while their most frequently originated rate bucket for loans was 2.5-3%, with 193 originations.
Loan Sizing
2021 saw Western Ohio Mortgage Corporation place emphasis on $100k-200k loans with 128 originations, totaling $18,790,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.93%
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 origination34.13%
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 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WESTERN ALLIANCE BANCORPORATION | Conventional home mortgage | Trouble during payment process | 2 | 100.0% |