First Ohio Home Finance Mortgage Rates, Fees & Info

WESTERVILLE, OH

LEI: 5493004NMXQUYEFD1Y98

Tax ID: 31-1484057

5 stars - Updated: 9/25/23 - out of 5 stars, based on 28 reviews

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

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Mortgage Data

Review & Overview

First Ohio Home Finance is a smaller mortgage company specializing in Home Purchase loans. First Ohio Home Finance has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Columbus, Akron, Cleveland, Cambridge, and Canton among others. We have data for 50 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Ohio Home Finance 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. First Ohio Home Finance 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
30 Year Conventional Purchase 6.33% 9/25/23
30 Year Conventional Refi 6.27% 9/25/23
30 Year Cash-out Refi 8.24% 9/25/23
30 Year FHA Purchase 8.16% 9/25/23
30 Year FHA Refi 6.27% 9/25/23
30 Year VA Purchase 6.27% 9/25/23
30 Year USDA Purchase 6.27% 9/25/23
15 Year Conventional Purchase 5.68% 9/25/23
15 Year Conventional Refi 5.68% 9/25/23
15 Year Cash-out Refi 5.68% 9/25/23
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.

First Ohio Home Finance Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Ohio Home Finance. 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

785

Origination Dollar Volume (All Markets)

$142,375,000

Relative Rate

First Ohio Home Finance's average 30 year fixed mortgage rate was 5.61%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.85%.

Relative Fees (Closing Costs)

First Ohio Home Finance's average total fees/closing costs for a 30 year fixed rate mortgage were $3,467.

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 $4,750.

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
COLUMBUS, OH (FHA|USDA|VA) 293 $65,205,000 $222,543 $3,678 5.41%
AKRON, OH (FHA|USDA|VA) 82 $14,010,000 $170,854 $3,510 5.52%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 73 $9,495,000 $130,068 $3,667 5.95%
Cambridge, OH (FHA|USDA|VA) 60 $8,750,000 $145,833 $2,677 5.48%
CANTON-MASSILLON, OH (FHA|USDA|VA) 34 $6,980,000 $205,294 $4,281 5.58%
TOLEDO, OH (FHA|USDA|VA) 45 $5,635,000 $125,222 $2,777 6.26%
Zanesville, OH (FHA|USDA|VA) 33 $4,975,000 $150,758 $2,942 5.50%
Marietta, OH (FHA|USDA|VA) 17 $3,155,000 $185,588 $2,462 5.29%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 15 $2,505,000 $167,000 $4,203 5.50%
DAYTON-KETTERING, OH (FHA|USDA|VA) 18 $2,390,000 $132,778 $4,124 6.08%
Outside of Metro Areas 14 $2,090,000 $149,286 $3,173 5.18%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $0 5.00%
Wooster, OH (FHA|USDA|VA) 7 $1,255,000 $179,286 $4,375 5.64%
SPRINGFIELD, OH (FHA|USDA|VA) 8 $1,080,000 $135,000 $3,661 6.51%
Mount Vernon, OH (FHA|USDA|VA) 6 $1,070,000 $178,333 $3,458 5.50%
Chillicothe, OH (FHA|USDA|VA) 6 $1,060,000 $176,667 $4,249 4.81%
Defiance, OH (FHA|USDA|VA) 5 $835,000 $167,000 $3,048 5.80%
WHEELING, WV-OH (FHA|USDA|VA) 5 $835,000 $167,000 $4,429 5.68%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $645,000 $645,000 $0 3.50%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $625,000 $625,000 $0 5.50%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $585,000 $585,000 $0 4.88%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 5 $545,000 $109,000 $3,903 5.70%
PITTSBURGH, PA (FHA|USDA|VA) 2 $490,000 $245,000 $0 5.38%
Coshocton, OH (FHA|USDA|VA) 3 $445,000 $148,333 $2,675 5.67%
Ashland, OH (FHA|USDA|VA) 5 $445,000 $89,000 $2,100 6.73%
MANSFIELD, OH (FHA|USDA|VA) 3 $435,000 $145,000 $2,839 4.66%
Salem, OH (FHA|USDA|VA) 2 $420,000 $210,000 $2,000 5.69%
Washington Court House, OH (FHA|USDA|VA) 2 $370,000 $185,000 $1,970 5.31%
New Philadelphia-Dover, OH (FHA|USDA|VA) 3 $355,000 $118,333 $2,227 5.79%
PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 2 $350,000 $175,000 $0 5.38%
Urbana, OH (FHA|USDA|VA) 2 $340,000 $170,000 $4,193 6.63%
Ashtabula, OH (FHA|USDA|VA) 3 $305,000 $101,667 $2,747 6.67%
Athens, OH (FHA|USDA|VA) 2 $300,000 $150,000 $3,107 6.19%
Marion, OH (FHA|USDA|VA) 3 $295,000 $98,333 $2,609 6.04%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $290,000 $145,000 $0 6.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.38%
Hillsdale, MI (FHA|USDA|VA) 1 $245,000 $245,000 $0 7.63%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $245,000 $245,000 $0 6.38%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $245,000 $81,667 $0 5.33%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.63%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 3 $205,000 $68,333 $2,016 5.67%
LIMA, OH (FHA|USDA|VA) 2 $170,000 $85,000 $3,481 5.13%
Tiffin, OH (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.99%
Portsmouth, OH (FHA|USDA|VA) 2 $150,000 $75,000 $2,074 5.50%
Fremont, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,561 7.25%
Sandusky, OH (FHA|USDA|VA) 1 $95,000 $95,000 $3,783 5.63%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.63%
Norwalk, OH (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.63%
ERIE, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.50%
First Ohio Home Finance's top markets include Columbus, Akron, Cleveland, Cambridge, and Canton among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against FIRST OHIO HOME FINANCE 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 574 $103,660,000 $180,592 $3,412 5.70%
    FHA 173 $30,775,000 $177,890 $3,644 5.35%
    USDA 21 $3,105,000 $147,857 $2,635 4.76%
    VA 17 $4,835,000 $284,412 $3,995 5.06%

    For 2022, First Ohio Home Finance's most frequently originated type of loan was Conventional, with 574 originations. Their 2nd most popular type was FHA, with 173 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 648 $118,280,000 $182,531 $3,388 5.65%
    Cash Out Refi 112 $19,840,000 $177,143 $3,905 5.45%
    Refi 25 $4,255,000 $170,200 $3,146 4.58%

    For 2022, First Ohio Home Finance's most frequently cited loan purpose was Home Purchase, with 648 originations. The 2nd most popular reason was Cash Out Refi, with 112 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 760 $136,810,000 $180,013 $3,467 5.61%
    15 Year 13 $3,555,000 $273,462 $3,153 4.14%
    20 Year 7 $1,275,000 $182,143 $2,759 5.48%
    Other 4 $640,000 $160,000 $2,429 5.06%
    10 Year 1 $95,000 $95,000 $0 3.50%

    For 2022, First Ohio Home Finance's most frequently cited loan duration was 30 Year, with 760 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 288 $56,110,000 $194,826
    4-5% 182 $34,620,000 $190,220
    6-7% 172 $29,470,000 $171,337
    3-4% 65 $12,265,000 $188,692
    7-8% 62 $8,250,000 $133,065
    Over 8% 14 $1,310,000 $93,571
    2.5-3% 2 $350,000 $175,000

    During 2022, First Ohio Home Finance's average interest rate for loans was 5.61%, while their most frequently originated rate bucket for loans was 5-6%, with 288 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 353 $51,975,000 $147,238 $3,327 5.56%
    $200k-400k 223 $60,335,000 $270,561 $4,328 5.47%
    $100,000 or less 176 $12,840,000 $72,955 $2,600 5.88%
    $400k-600k 26 $12,160,000 $467,692 $3,550 5.11%
    $600k-1MM 6 $3,800,000 $633,333 $873 4.90%
    $1MM+ 1 $1,265,000 $1,265,000 $0 5.00%

    2022 saw First Ohio Home Finance place emphasis on $100k-200k loans with 353 originations, totaling $51,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 188 $30,780,000 $163,723 $3,181 5.56%
    $50k or less 163 $20,405,000 $125,184 $2,779 5.44%
    $100k-150k 157 $29,975,000 $190,924 $3,835 5.77%
    $75k-100k 131 $25,405,000 $193,931 $3,516 5.56%
    $150k-250k 99 $22,765,000 $229,949 $4,097 5.60%
    $250k+ 41 $11,955,000 $291,585 $4,336 5.52%

    First Ohio Home Finance lent most frequently to those with incomes in the $50k-75k range, with 188 originations. The second most popular income band? $50k or less, with 163 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 137 $26,495,000 $193,394 $3,260 5.62%
    20-30% 115 $21,575,000 $187,609 $3,221 5.47%
    41% 66 $11,040,000 $167,273 $3,485 5.48%
    49% 49 $7,665,000 $156,429 $3,562 5.53%
    45% 42 $8,400,000 $200,000 $3,557 5.70%
    39% 41 $6,835,000 $166,707 $3,698 5.63%
    50-60% 35 $6,675,000 $190,714 $3,229 5.44%
    44% 34 $6,040,000 $177,647 $3,195 5.46%
    37% 32 $5,110,000 $159,688 $3,571 5.63%
    43% 32 $5,010,000 $156,563 $3,316 5.80%
    42% 29 $5,535,000 $190,862 $3,909 5.64%
    <20% 28 $4,370,000 $156,071 $3,955 5.34%
    46% 28 $5,500,000 $196,429 $3,616 5.74%
    40% 27 $5,085,000 $188,333 $2,971 5.55%
    47% 26 $4,780,000 $183,846 $3,666 5.86%
    36% 26 $4,310,000 $165,769 $3,781 5.44%
    38% 23 $4,565,000 $198,478 $3,534 5.78%

    First Ohio Home Finance lent most frequently to those with DTI ratios of 30-36%, with 137 originations. The next most common DTI ratio? 20-30%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 618 $115,190,000 $186,392 $3,417 5.55%
    Not provided 81 $13,265,000 $163,765 $3,809 5.82%
    Asian 41 $6,905,000 $168,415 $3,954 5.62%
    Black 42 $6,500,000 $154,762 $2,780 5.48%
    Native Hawaiian or Islander 2 $380,000 $190,000 $4,349 5.50%
    American Indian 1 $135,000 $135,000 $2,577 6.88%

    Approval Rates

    Total approvals of all applications
    97.55%

    First Ohio Home Finance 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
    68.15%

    First Ohio Home Finance 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 785 $142,375,000 $181,369

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    785 $142,375,000 $181,369

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,255,000 $139,444 $3,242 5.17%
    40-60% 30 $4,950,000 $165,000 $3,320 5.22%
    60-80% 289 $48,725,000 $168,599 $3,818 5.66%
    80-100% 457 $87,445,000 $191,346 $3,240 5.56%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%