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, Refi, and Home Purchase loans. Miami University Community has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Connersville, Richmond, Columbus, and Somerset among others. We have data for 6 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. They have an above average pick rate when compared to similar 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Refi | 6.28% | 5/4/24 |
| 15 Year Conventional Refi | 6.63% | 5/4/24 |
| 15 Year Cash-out Refi | 6.63% | 5/4/24 |
| 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
40Origination Dollar Volume (All Markets)
$3,140,000Top 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 |
|---|---|---|---|---|---|
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 30 | $2,260,000 | $75,333 | $1,366 | 3.93% |
| Outside of Metro Areas | 6 | $580,000 | $96,667 | $1,908 | 4.56% |
| Connersville, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,804 | 2.88% |
| Richmond, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,612 | 2.63% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,008 | 2.25% |
| Somerset, KY (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $257 | 3.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $2,720,000 | $90,667 | $1,481 | 3.89% |
| HELOC | 10 | $420,000 | $42,000 | n/a | 4.00% |
For 2021, Miami University Community's most frequently originated type of loan was Conventional, with 30 originations. Their 2nd most popular type was HELOC, with 10 originations.
Loan Reason
For 2021, Miami University Community's most frequently cited loan purpose was Home Improvement, with 22 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
For 2021, Miami University Community's most frequently cited loan duration was 20 Year, with 12 originations. The 2nd most popular length was 10 Year, with 8 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 15 | $2,145,000 | $143,000 |
Miami University Community's average total fees were $2,455, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 26 | $1,910,000 | $73,462 |
| <2.5% | 4 | $630,000 | $157,500 |
| 2.5-3% | 4 | $510,000 | $127,500 |
| 4-5% | 2 | $50,000 | $25,000 |
| 6-7% | 2 | $10,000 | $5,000 |
| 7-8% | 2 | $30,000 | $15,000 |
During 2021, Miami University Community's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 3-4%, with 26 originations.
Loan Sizing
2021 saw Miami University Community place emphasis on $100,000 or less loans with 28 originations, totaling $1,200,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 40 | $3,140,000 | $78,500 | $1,481 | 3.92% |
Miami University Community lent most frequently to those with incomes in the $250k+ range, with 40 originations.
Applicant Debt to Income Ratio
Miami University Community lent most frequently to those with DTI ratios of 20-30%, with 16 originations. The next most common DTI ratio? <20%, with 6 originations.
Ethnicity Mix
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 origination95.00%
Miami University Community has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 40 | $3,140,000 | $78,500 |