The Croghan Colonial Bank Mortgage Rates, Fees & Info

Fremont, OH

LEI: 5493004F1BOBD3SG7P54

Tax ID: 34-1415683

5 stars - Updated: 12/16/24 - out of 5 stars, based on 13 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    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.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/16/24
    30 Year Conventional Purchase 6.73% 12/16/24
    30 Year Conventional Refi 6.43% 12/16/24
    30 Year Cash-out Refi 7.06% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 6.60% 12/16/24
    15 Year Conventional Refi 6.23% 12/16/24
    15 Year Cash-out Refi 6.23% 12/16/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from The Croghan Colonial Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    170

    Origination Dollar Volume (All Markets)

    $35,510,000
    Show all (7) awards

    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%
    The Croghan Colonial Bank's top markets include Toledo, Fremont, Akron, Tiffin, and Youngstown among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)

    • 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.

    First Federal Savings and Loan Association of Delta
    Similarity Rank: 34
    First National Bank of Bellevue
    Similarity Rank: 48
    The Old Fort Banking Company
    Similarity Rank: 92
    GLASS CITY Federal Credit Union
    Similarity Rank: 123
    SUN Federal Credit Union
    Similarity Rank: 246
    POLARIS HOME FUNDING CORP.
    Similarity Rank: 392
    UNION CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 437
    The Croghan Colonial Bank
    Similarity Rank: 462
    FIRST CHOICE MH LLC
    Similarity Rank: 477
    First Federal Savings and Loan Association of Lorain
    Similarity Rank: 550

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 143 $30,315,000 $211,993 $3,567 6.63%
    Cash Out Refi 10 $1,070,000 $107,000 $2,997 6.26%
    Refi 9 $2,165,000 $240,556 $2,844 6.86%
    Other 5 $1,465,000 $293,000 $3,519 7.40%
    Home Improvement 3 $495,000 $165,000 $3,261 6.84%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 139 $22,775,000 $163,849 $3,541 6.44%
    10 Year 12 $6,850,000 $570,833 $0 7.54%
    5 Year 7 $2,965,000 $423,571 $0 8.33%
    15 Year 6 $2,460,000 $410,000 $3,486 7.16%
    20 Year 3 $265,000 $88,333 $3,063 6.83%
    1 Year 2 $120,000 $60,000 $0 8.00%
    3 Year 1 $75,000 $75,000 $0 7.04%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 72 $9,890,000 $137,361 $3,398 6.30%
    $100,000 or less 48 $3,570,000 $74,375 $2,814 6.45%
    $200k-400k 34 $9,360,000 $275,294 $4,520 7.15%
    $400k-600k 8 $3,460,000 $432,500 $4,626 7.83%
    $1MM+ 5 $6,885,000 $1,377,000 $0 7.50%
    $600k-1MM 3 $2,345,000 $781,667 $3,844 7.82%

    2023 saw The Croghan Colonial Bank place emphasis on $100k-200k loans with 72 originations, totaling $9,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 45 $4,795,000 $106,556 $3,249 6.19%
    $50k-75k 42 $5,450,000 $129,762 $3,145 6.32%
    $150k-250k 17 $5,405,000 $317,941 $4,212 7.24%
    $75k-100k 17 $2,685,000 $157,941 $3,897 6.45%
    $100k-150k 15 $2,335,000 $155,667 $3,561 6.71%
    $250k+ 8 $2,830,000 $353,750 $4,410 7.61%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 36 $5,800,000 $161,111 $3,460 6.49%
    20-30% 35 $5,395,000 $154,143 $3,422 6.51%
    <20% 10 $1,580,000 $158,000 $3,117 6.50%
    40% 8 $1,020,000 $127,500 $3,744 6.45%
    49% 7 $1,365,000 $195,000 $3,955 6.82%
    37% 7 $1,255,000 $179,286 $3,247 6.66%
    47% 7 $1,065,000 $152,143 $3,290 6.54%
    42% 6 $790,000 $131,667 $2,954 6.60%
    38% 6 $1,120,000 $186,667 $4,108 6.71%
    39% 5 $905,000 $181,000 $3,795 6.58%
    45% 5 $825,000 $165,000 $3,441 6.43%
    41% 4 $970,000 $242,500 $5,233 6.88%
    36% 3 $375,000 $125,000 $3,254 5.75%
    48% 3 $345,000 $115,000 $3,203 5.75%
    43% 3 $925,000 $308,333 $3,158 6.54%
    44% 2 $240,000 $120,000 $4,462 6.25%
    46% 1 $55,000 $55,000 $2,690 5.63%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 140 $23,090,000 $164,929 $3,530 6.51%
    Not applicable 19 $11,035,000 $580,789 $0 7.50%
    Not provided 4 $460,000 $115,000 $3,690 6.47%
    Black 3 $365,000 $121,667 $3,004 6.04%
    Asian Indian 1 $255,000 $255,000 $5,381 6.25%
    Asian 1 $165,000 $165,000 $3,491 7.50%
    American Indian 2 $140,000 $70,000 $1,305 9.07%

    Approval Rates

    Total approvals of all applications
    92.88%

    The Croghan Colonial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.29%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    170 $35,510,000 $208,882

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $790,000 $98,750 $2,960 6.62%
    40-60% 27 $7,195,000 $266,481 $3,236 6.50%
    60-80% 52 $12,050,000 $231,731 $3,244 6.91%
    80-100% 78 $14,910,000 $191,154 $3,776 6.49%
    Under 20% 5 $565,000 $113,000 $2,594 7.20%