The Old Fort Banking Company Mortgage Rates, Fees & Info

Old Fort, OH

LEI: 549300AWVW2ZYIVA5297

Tax ID: 34-4321530

5 stars - Updated: 12/16/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The Old Fort Banking Company is a smaller bank specializing in Home Purchase loans. The Old Fort Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Dayton, Tiffin, Findlay, Columbus, and Cincinnati among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Old Fort Banking Company 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. The Old Fort Banking Company 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 Purchase 6.79% 12/16/24
    30 Year Conventional Refi 6.86% 12/16/24
    30 Year Cash-out Refi 6.80% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 6.08% 12/16/24
    15 Year Conventional Refi 5.99% 12/16/24
    15 Year Cash-out Refi 5.99% 12/16/24
    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.

    The Old Fort Banking Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The Old Fort Banking Company. 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

    242

    Origination Dollar Volume (All Markets)

    $50,840,000

    Awards

    The Old Fort Banking Company 30 Year Conventional Loans gold The Old Fort Banking Company 30 Year Conventional Loans gold The Old Fort Banking Company 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    The Old Fort Banking Company's average 30 year fixed mortgage rate was 6.58%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.1%.

    Relative Fees (Closing Costs)

    The Old Fort Banking Company's average total fees/closing costs for a 30 year fixed rate mortgage were $2,974.

    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
    DAYTON-KETTERING, OH (FHA|USDA|VA) 136 $27,190,000 $199,926 $2,968 6.59%
    Tiffin, OH (FHA|USDA|VA) 48 $8,640,000 $180,000 $2,515 6.55%
    Findlay, OH (FHA|USDA|VA) 8 $2,350,000 $293,750 $2,969 6.14%
    COLUMBUS, OH (FHA|USDA|VA) 5 $2,105,000 $421,000 $3,570 5.60%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 7 $1,865,000 $266,429 $2,851 6.71%
    Fremont, OH (FHA|USDA|VA) 9 $1,365,000 $151,667 $4,131 6.89%
    TOLEDO, OH (FHA|USDA|VA) 7 $1,125,000 $160,714 $3,111 6.46%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $1,040,000 $520,000 $6,222 5.63%
    SPRINGFIELD, OH (FHA|USDA|VA) 3 $875,000 $291,667 $3,518 6.96%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $870,000 $435,000 $4,410 5.56%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $655,000 $655,000 $5,916 5.63%
    Sevierville, TN (FHA|USDA|VA) 1 $435,000 $435,000 $3,622 6.63%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $425,000 $425,000 $2,365 5.25%
    Bellefontaine, OH (FHA|USDA|VA) 1 $425,000 $425,000 $3,170 6.50%
    Adrian, MI (FHA|USDA|VA) 1 $275,000 $275,000 $2,543 5.75%
    Mount Vernon, OH (FHA|USDA|VA) 1 $235,000 $235,000 $3,082 6.75%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $225,000 $225,000 $0 6.11%
    Urbana, OH (FHA|USDA|VA) 1 $195,000 $195,000 $3,128 6.50%
    Norwalk, OH (FHA|USDA|VA) 2 $160,000 $80,000 $2,416 6.38%
    Sandusky, OH (FHA|USDA|VA) 2 $160,000 $80,000 $2,881 7.06%
    Wilmington, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,344 6.75%
    Washington Court House, OH (FHA|USDA|VA) 1 $65,000 $65,000 $2,261 7.25%
    Outside of Metro Areas 1 $45,000 $45,000 $2,350 5.50%
    The Old Fort Banking Company's top markets include Dayton, Tiffin, Findlay, Columbus, and Cincinnati among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Old Fort Banking Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Federal Savings and Loan Association of Delta
    Similarity Rank: 34
    First National Bank of Bellevue
    Similarity Rank: 48
    GLASS CITY Federal Credit Union
    Similarity Rank: 123
    The North Side Bank & Trust Company
    Similarity Rank: 168
    Fidelity Federal Savings and Loan Association
    Similarity Rank: 210
    The Community Bank
    Similarity Rank: 216
    SUN Federal Credit Union
    Similarity Rank: 246
    Minster Bank
    Similarity Rank: 324
    Forcht Bank
    Similarity Rank: 380
    Day Air Credit Union, Inc
    Similarity Rank: 391

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 242 $50,840,000 $210,083 $2,987 6.53%

    For 2023, The Old Fort Banking Company's most frequently originated type of loan was Conventional, with 242 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 188 $41,630,000 $221,436 $3,184 6.54%
    Cash Out Refi 33 $5,805,000 $175,909 $2,963 6.43%
    Other 9 $545,000 $60,556 $542 6.86%
    Refi 7 $1,815,000 $259,286 $2,830 6.14%
    Home Improvement 5 $1,045,000 $209,000 $548 6.70%

    For 2023, The Old Fort Banking Company's most frequently cited loan purpose was Home Purchase, with 188 originations. The 2nd most popular reason was Cash Out Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 175 $33,295,000 $190,257 $2,974 6.58%
    30+ year 15 $8,285,000 $552,333 $5,269 6.19%
    10 Year 14 $2,070,000 $147,857 $536 6.74%
    15 Year 14 $1,540,000 $110,000 $3,030 6.21%
    5 Year 10 $2,660,000 $266,000 $0 6.30%
    Other 9 $1,665,000 $185,000 $553 6.58%
    20 Year 3 $215,000 $71,667 $2,709 7.08%
    3 Year 2 $1,110,000 $555,000 $0 6.00%

    For 2023, The Old Fort Banking Company's most frequently cited loan duration was 30 Year, with 175 originations. The 2nd most popular length was 30+ year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 183 $39,705,000 $216,967
    $1k-2k 14 $1,820,000 $130,000
    $2k-3k 5 $825,000 $165,000
    $3k-4k 4 $860,000 $215,000
    $5k+ 1 $125,000 $125,000

    The Old Fort Banking Company's average total fees were $2,974, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 183 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 148 $28,110,000 $189,932
    5-6% 44 $12,950,000 $294,318
    7-8% 42 $6,920,000 $164,762
    4-5% 6 $2,440,000 $406,667
    Over 8% 2 $420,000 $210,000

    During 2023, The Old Fort Banking Company's average interest rate for loans was 6.58%, while their most frequently originated rate bucket for loans was 6-7%, with 148 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 89 $12,785,000 $143,652 $2,762 6.63%
    $100,000 or less 62 $3,700,000 $59,677 $2,207 6.68%
    $200k-400k 58 $15,740,000 $271,379 $3,347 6.47%
    $400k-600k 22 $10,300,000 $468,182 $4,260 6.11%
    $600k-1MM 10 $7,280,000 $728,000 $5,563 6.00%
    $1MM+ 1 $1,035,000 $1,035,000 $6,359 7.25%

    2023 saw The Old Fort Banking Company place emphasis on $100k-200k loans with 89 originations, totaling $12,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 58 $7,090,000 $122,241 $2,745 6.69%
    $100k-150k 39 $7,585,000 $194,487 $2,671 6.48%
    $50k or less 39 $3,765,000 $96,538 $2,324 6.52%
    $150k-250k 38 $10,840,000 $285,263 $3,579 6.54%
    $250k+ 24 $11,280,000 $470,000 $4,361 6.19%
    $75k-100k 22 $3,570,000 $162,273 $2,852 6.77%

    The Old Fort Banking Company lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $100k-150k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 66 $12,680,000 $192,121 $3,021 6.53%
    30-36% 51 $9,675,000 $189,706 $2,796 6.32%
    <20% 20 $4,160,000 $208,000 $2,898 6.39%
    38% 9 $1,985,000 $220,556 $2,430 6.88%
    40% 8 $3,200,000 $400,000 $3,849 6.52%
    37% 7 $1,745,000 $249,286 $3,299 6.32%
    36% 7 $1,365,000 $195,000 $2,837 6.16%
    41% 7 $1,685,000 $240,714 $3,387 6.54%
    47% 6 $1,070,000 $178,333 $2,646 6.79%
    49% 6 $1,060,000 $176,667 $3,059 6.88%
    43% 6 $890,000 $148,333 $2,654 6.98%
    45% 5 $895,000 $179,000 $3,164 7.25%
    46% 5 $925,000 $185,000 $3,000 7.23%
    44% 4 $490,000 $122,500 $3,041 7.13%
    42% 3 $1,315,000 $438,333 $4,567 6.21%
    39% 3 $435,000 $145,000 $2,957 6.92%
    48% 3 $225,000 $75,000 $3,740 6.96%
    >60% 2 $190,000 $95,000 $2,743 6.69%
    50-60% 1 $55,000 $55,000 $3,071 7.25%

    The Old Fort Banking Company lent most frequently to those with DTI ratios of 20-30%, with 66 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 215 $42,375,000 $197,093 $2,964 6.54%
    Not applicable 19 $6,235,000 $328,158 $0 6.33%
    Not provided 6 $2,020,000 $336,667 $3,978 6.42%
    Black 2 $210,000 $105,000 $2,459 7.50%

    Approval Rates

    Total approvals of all applications
    94.82%

    The Old Fort Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.36%

    The Old Fort Banking Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 242 $50,840,000 $210,083

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    242 $50,840,000 $210,083

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,195,000 $104,524 $2,314 6.38%
    40-60% 34 $6,630,000 $195,000 $2,955 6.51%
    60-80% 89 $20,135,000 $226,236 $3,326 6.51%
    80-100% 87 $21,315,000 $245,000 $3,109 6.57%
    Under 20% 11 $565,000 $51,364 $927 6.78%