The Croghan Colonial Bank Mortgage Rates, Fees & Info
Fremont, OHLEI: 5493004F1BOBD3SG7P54
Tax ID: 34-1415683
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Mortgage Data
Review & Overview
The Croghan Colonial Bank is a smaller bank specializing in Home Purchase loans. The Croghan Colonial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Toledo, Fremont, Akron, Tiffin, and Youngstown among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)The Croghan Colonial Bank 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. The Croghan Colonial Bank 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 relatively high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.73% | 11/17/24 |
| 30 Year Conventional Refi | 6.43% | 11/17/24 |
| 30 Year Cash-out Refi | 7.06% | 11/17/24 |
| 30 Year FHA Purchase | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.60% | 11/17/24 |
| 15 Year Conventional Refi | 6.23% | 11/17/24 |
| 15 Year Cash-out Refi | 6.23% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
The Croghan Colonial Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
170Origination Dollar Volume (All Markets)
$35,510,000Awards
The Croghan Colonial Bank - 2023
The Croghan Colonial Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
The Croghan Colonial Bank's average 30 year fixed mortgage rate was
6.44%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.04%.
Relative Fees (Closing Costs)
The Croghan Colonial Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,541.
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 |
|---|---|---|---|---|---|
| TOLEDO, OH (FHA|USDA|VA) | 54 | $14,920,000 | $276,296 | $3,824 | 6.98% |
| Fremont, OH (FHA|USDA|VA) | 68 | $9,230,000 | $135,735 | $3,169 | 6.33% |
| AKRON, OH (FHA|USDA|VA) | 2 | $2,010,000 | $1,005,000 | $3,844 | 8.09% |
| Tiffin, OH (FHA|USDA|VA) | 14 | $1,930,000 | $137,857 | $3,470 | 6.67% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $1,740,000 | $870,000 | $0 | 7.15% |
| Sandusky, OH (FHA|USDA|VA) | 10 | $1,560,000 | $156,000 | $3,903 | 6.48% |
| Norwalk, OH (FHA|USDA|VA) | 12 | $1,500,000 | $125,000 | $3,533 | 6.35% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 6.85% |
| Findlay, OH (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $6,704 | 8.00% |
| Outside of Metro Areas | 2 | $460,000 | $230,000 | $3,478 | 7.58% |
| ERIE, PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,371 | 8.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,922 | 7.88% |
| Adrian, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,974 | 5.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,965 | 5.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Croghan Colonial Bank 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 170 | $35,510,000 | $208,882 | $3,505 | 6.65% |
For 2023, The Croghan Colonial Bank's most frequently originated type of loan was Conventional, with 170 originations.
Loan Reason
For 2023, The Croghan Colonial Bank's most frequently cited loan purpose was Home Purchase, with 143 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.
Loan Duration/Length
For 2023, The Croghan Colonial Bank's most frequently cited loan duration was 30 Year, with 139 originations. The 2nd most popular length was 10 Year, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 109 | $16,385,000 | $150,321 |
| $1k-2k | 36 | $7,160,000 | $198,889 |
| $2k-3k | 3 | $485,000 | $161,667 |
The Croghan Colonial Bank's average total fees were $3,541, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 109 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 64 | $7,110,000 | $111,094 |
| 6-7% | 51 | $11,505,000 | $225,588 |
| 7-8% | 39 | $11,915,000 | $305,513 |
| Over 8% | 16 | $4,980,000 | $311,250 |
During 2023, The Croghan Colonial Bank's average interest rate for loans was 6.44%, while their most frequently originated rate bucket for loans was 5-6%, with 64 originations.
Loan Sizing
2023 saw The Croghan Colonial Bank place emphasis on $100k-200k loans with 72 originations, totaling $9,890,000 in origination value.
Applicant Income
The Croghan Colonial Bank lent most frequently to those with incomes in the $50k or less range, with 45 originations. The second most popular income band? $50k-75k, with 42 originations.
Applicant Debt to Income Ratio
The Croghan Colonial Bank lent most frequently to those with DTI ratios of 30-36%, with 36 originations. The next most common DTI ratio? 20-30%, with 35 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.88%
The Croghan Colonial Bank has an average approval rate.
Pick Rate
Approvals leading to origination75.29%
The Croghan Colonial Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 170 | $35,510,000 | $208,882 |