Portage Community Bank Mortgage Rates, Fees & Info
Ravenna, OHLEI: 5493005LKELKKRLTQA25
Tax ID: 34-1867889
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Mortgage Data
Review & Overview
Portage Community Bank is a smaller bank specializing in Home Purchase loans. Portage Community Bank 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: Akron, Cleveland, Canton, Youngstown, and The Villages among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Portage Community 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.
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Originations
265Origination Dollar Volume (All Markets)
$54,695,000Top 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 |
|---|---|---|---|---|---|
| AKRON, OH (FHA|USDA|VA) | 190 | $39,870,000 | $209,842 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 17 | $5,085,000 | $299,118 | $0 | 0.00% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 29 | $4,445,000 | $153,276 | $0 | 0.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 13 | $2,235,000 | $171,923 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $0 | 0.00% |
| Salem, OH (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $0 | 0.00% |
| Wooster, OH (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| Ashland, OH (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 0.00% |
| Ashtabula, OH (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $250,000 | $125,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
For 2023, Portage Community Bank's most frequently originated type of loan was Conventional, with 223 originations. Their 2nd most popular type was FHA, with 35 originations.
Loan Reason
For 2023, Portage Community Bank's most frequently cited loan purpose was Home Purchase, with 224 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 265 | $54,695,000 | $206,396 | $0 | 0.00% |
For 2023, Portage Community Bank's most frequently cited loan duration was Other, with 265 originations.
Loan Sizing
2023 saw Portage Community Bank place emphasis on $100k-200k loans with 109 originations, totaling $16,315,000 in origination value.
Applicant Income
Portage Community Bank lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $150k-250k, with 45 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 265 | $54,695,000 | $206,396 | $0 | 0.00% |
Portage Community Bank lent most frequently to those with DTI ratios of Exempt%, with 265 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.56%
Portage Community Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination89.81%
Portage Community Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 265 | $54,695,000 | $206,396 |