Miami University Community Mortgage Rates, Fees & Info
Oxford, OHLEI: 549300981UHFORU1HG39
Tax ID: 31-0822737
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Mortgage Data
Review & Overview
Miami University Community is a smaller mortgage company specializing in Home Improvement loans. Miami University Community has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Miami, and Connersville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Miami University Community has an above average approval rate when compared to the average across all lenders. Miami University Community 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Refi | 6.28% | 11/17/24 |
| 15 Year Conventional Refi | 6.63% | 11/17/24 |
| 15 Year Cash-out Refi | 6.63% | 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. | ||
Miami University Community Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
26Origination Dollar Volume (All Markets)
$1,220,000Relative Rate
Miami University Community's average 30 year fixed mortgage rate was
7.5%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.02%.
Relative Fees (Closing Costs)
Miami University Community's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,469.
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 |
|---|---|---|---|---|---|
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 23 | $1,065,000 | $46,304 | $665 | 8.27% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.75% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $546 | 7.00% |
| Connersville, IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $546 | 8.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against MIAMI UNIVERSITY COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 168
Similarity Rank: 380
Similarity Rank: 483
Similarity Rank: 484
Similarity Rank: 486
Similarity Rank: 600
Similarity Rank: 630
Similarity Rank: 693
Similarity Rank: 783
Similarity Rank: 812
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $815,000 | $42,895 | $652 | 8.18% |
| HELOC | 7 | $405,000 | $57,857 | n/a | 8.21% |
For 2023, Miami University Community's most frequently originated type of loan was Conventional, with 19 originations. Their 2nd most popular type was HELOC, with 7 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 25 | $1,085,000 | $43,400 | $552 | 8.22% |
| Refi | 1 | $135,000 | $135,000 | $2,469 | 7.50% |
For 2023, Miami University Community's most frequently cited loan purpose was Home Improvement, with 25 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
For 2023, Miami University Community's most frequently cited loan duration was 15 Year, with 8 originations. The 2nd most popular length was Other, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $135,000 | $135,000 |
Miami University Community's average total fees were $2,469, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 11 | $415,000 | $37,727 |
| 7-8% | 10 | $540,000 | $54,000 |
| 6-7% | 4 | $200,000 | $50,000 |
| 3-4% | 1 | $65,000 | $65,000 |
During 2023, Miami University Community's average interest rate for loans was 7.50%, while their most frequently originated rate bucket for loans was Over 8%, with 11 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 25 | $1,085,000 | $43,400 | $552 | 8.22% |
| $100k-200k | 1 | $135,000 | $135,000 | $2,469 | 7.50% |
2023 saw Miami University Community place emphasis on $100,000 or less loans with 25 originations, totaling $1,085,000 in origination value.
Applicant Income
Miami University Community lent most frequently to those with incomes in the $50k or less range, with 7 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
Miami University Community lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? <20%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 25 | $1,155,000 | $46,200 | $652 | 8.14% |
| Black | 1 | $65,000 | $65,000 | $0 | 9.50% |
Approval Rates
Total approvals of all applications100.00%
Miami University Community has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 26 | $1,220,000 | $46,923 |