Portage Community Bank Mortgage Rates, Fees & Info

Ravenna, OH

LEI: 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, Canton, Cleveland, Toledo, and Youngstown among others. We have data for 10 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

371

Origination Dollar Volume (All Markets)

$77,295,000

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
AKRON, OH (FHA|USDA|VA) 274 $52,510,000 $191,642 $0 0.00%
CANTON-MASSILLON, OH (FHA|USDA|VA) 49 $10,875,000 $221,939 $0 0.00%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 18 $5,460,000 $303,333 $0 0.00%
TOLEDO, OH (FHA|USDA|VA) 5 $3,945,000 $789,000 $0 0.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 18 $2,920,000 $162,222 $0 0.00%
Salem, OH (FHA|USDA|VA) 3 $685,000 $228,333 $0 0.00%
Coshocton, OH (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
Outside of Metro Areas 1 $265,000 $265,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Wooster, OH (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Portage Community Bank's top markets include Akron, Canton, Cleveland, Toledo, and Youngstown among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 325 $69,855,000 $214,938 $0 0.00%
    FHA 44 $7,010,000 $159,318 $0 0.00%
    VA 1 $325,000 $325,000 $0 0.00%
    USDA 1 $105,000 $105,000 $0 0.00%

    For 2022, Portage Community Bank's most frequently originated type of loan was Conventional, with 325 originations. Their 2nd most popular type was FHA, with 44 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 283 $55,375,000 $195,671 $0 0.00%
    Refi 34 $13,050,000 $383,824 $0 0.00%
    Cash Out Refi 32 $6,030,000 $188,438 $0 0.00%
    Other 18 $2,410,000 $133,889 $0 0.00%
    Home Improvement 4 $430,000 $107,500 $0 0.00%

    For 2022, Portage Community Bank's most frequently cited loan purpose was Home Purchase, with 283 originations. The 2nd most popular reason was Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 371 $77,295,000 $208,342 $0 0.00%

    For 2022, Portage Community Bank's most frequently cited loan duration was Other, with 371 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 170 $24,750,000 $145,588 $0 0.00%
    $200k-400k 104 $28,460,000 $273,654 $0 0.00%
    $100,000 or less 71 $5,065,000 $71,338 $0 0.00%
    $400k-600k 13 $6,255,000 $481,154 $0 0.00%
    $600k-1MM 7 $5,195,000 $742,143 $0 0.00%
    $1MM+ 6 $7,570,000 $1,261,667 $0 0.00%

    2022 saw Portage Community Bank place emphasis on $100k-200k loans with 170 originations, totaling $24,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 89 $13,355,000 $150,056 $0 0.00%
    $100k-150k 68 $15,680,000 $230,588 $0 0.00%
    $50k or less 67 $8,295,000 $123,806 $0 0.00%
    $75k-100k 61 $11,185,000 $183,361 $0 0.00%
    $150k-250k 41 $10,975,000 $267,683 $0 0.00%
    $250k+ 8 $3,510,000 $438,750 $0 0.00%

    Portage Community Bank lent most frequently to those with incomes in the $50k-75k range, with 89 originations. The second most popular income band? $100k-150k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 371 $77,295,000 $208,342 $0 0.00%

    Portage Community Bank lent most frequently to those with DTI ratios of Exempt%, with 371 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 327 $61,955,000 $189,465 $0 0.00%
    Not applicable 33 $13,565,000 $411,061 $0 0.00%
    Black 6 $990,000 $165,000 $0 0.00%
    American Indian 1 $325,000 $325,000 $0 0.00%
    Asian 2 $290,000 $145,000 $0 0.00%
    Not provided 2 $170,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.54%

    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 origination
    87.33%

    Portage Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 371 $77,295,000 $208,342

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    371 $77,295,000 $208,342