The Genoa Banking Company Mortgage Rates, Fees & Info
GENOA, OHLEI: 549300DRKI1J5D73X280
Tax ID: 34-4242080
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
The Genoa Banking Company is a smaller bank specializing in Home Purchase and Refi loans. The Genoa Banking Company has a high proportion of conventional loans. Their top markets include Toledo, Monroe, Fremont, Columbus, and Findlay among others. The Genoa Banking Company has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. The Genoa Banking Company is typically an average fee lendor.Originations
831Origination Dollar Volume (All Markets)
$178,175,000Awards
The Genoa Banking Company - 2021
The Genoa Banking Company is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
The Genoa Banking Company's average 30 year fixed rate mortgage of loans were
3.02%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.13%.
Relative Fees
The Genoa Banking Company's average total fees for a 30 year fixed rate
mortgage are $3,480.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| TOLEDO, OH (FHA|USDA|VA) | 717 | $147,915,000 | $206,297 | $3,448 | 3.16% |
| MONROE, MI (FHA|USDA|VA) | 23 | $7,055,000 | $306,739 | $3,077 | 3.02% |
| Fremont, OH (FHA|USDA|VA) | 25 | $6,525,000 | $261,000 | $3,585 | 3.19% |
| COLUMBUS, OH (FHA|USDA|VA) | 8 | $2,900,000 | $362,500 | $3,965 | 3.25% |
| Findlay, OH (FHA|USDA|VA) | 9 | $1,845,000 | $205,000 | $3,561 | 3.10% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,570,000 | $785,000 | $5,660 | 2.94% |
| Sandusky, OH (FHA|USDA|VA) | 7 | $1,495,000 | $213,571 | $3,795 | 3.11% |
| Outside of Metro Areas | 7 | $1,025,000 | $146,429 | $3,403 | 3.27% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $975,000 | $975,000 | $2,525 | 2.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $3,169 | 2.42% |
| JACKSON, MI (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,456 | 3.13% |
| Angola, IN (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,642 | 2.69% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 2.88% |
| Defiance, OH (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,712 | 3.19% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $3,666 | 2.83% |
| Tiffin, OH (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $3,623 | 3.97% |
| Adrian, MI (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $2,907 | 2.71% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,485 | 2.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 4.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,139 | 2.88% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,717 | 2.88% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,596 | 2.88% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,242 | 2.88% |
| Olean, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,458 | 3.00% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,717 | 2.38% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.50% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,403 | 2.13% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,286 | 3.38% |
| Ludington, MI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,866 | 2.63% |
The Genoa Banking Company's top markets include Toledo, Monroe, Fremont, Columbus, and Findlay among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 831 | $178,175,000 | $214,410 | $3,455 | 3.15% |
For the 2021 period, The Genoa Banking Company's most frequently originated loan type of loans were Conventional, with 831 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 383 | $94,165,000 | $245,862 | $3,870 | 3.31% |
| Refi | 266 | $51,610,000 | $194,023 | $3,190 | 2.96% |
| Cash Out Refi | 148 | $29,580,000 | $199,865 | $3,367 | 2.80% |
| Home Improvement | 24 | $2,280,000 | $95,000 | $1,176 | 4.40% |
| Other | 10 | $540,000 | $54,000 | $995 | 4.60% |
For the 2021, The Genoa Banking Company's most frequently cited loan purpose of loans were Home Purchase, with 383 originations. The 2nd most popular reason of loans were Refi, with 266 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 391 | $83,985,000 | $214,795 | $3,480 | 3.02% |
| 15 Year | 214 | $36,230,000 | $169,299 | $3,158 | 2.82% |
| 20 Year | 64 | $21,300,000 | $332,813 | $3,271 | 3.57% |
| Other | 63 | $9,895,000 | $157,063 | $3,143 | 3.91% |
| 30+ year | 55 | $19,445,000 | $353,545 | $5,036 | 3.37% |
| 10 Year | 26 | $4,650,000 | $178,846 | $2,446 | 3.71% |
| 1 Year | 9 | $2,325,000 | $258,333 | $6,063 | 4.28% |
| 5 Year | 8 | $290,000 | $36,250 | $784 | 4.56% |
| 3 Year | 1 | $55,000 | $55,000 | $0 | 4.50% |
For the 2021, The Genoa Banking Company's most frequently cited loan length of loans were 30 Year, with 391 originations. The 2nd most popular length of loans were 15 Year, with 214 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 685 | $148,195,000 | $216,343 |
| $<1k | 35 | $1,905,000 | $54,429 |
| $3k-4k | 2 | $830,000 | $415,000 |
| $2k-3k | 1 | $335,000 | $335,000 |
$3,480 of loans were The Genoa Banking Company's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 685 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 313 | $73,205,000 | $233,882 |
| 3-4% | 255 | $60,705,000 | $238,059 |
| <2.5% | 157 | $28,465,000 | $181,306 |
| 4-5% | 90 | $15,010,000 | $166,778 |
| 5-6% | 16 | $790,000 | $49,375 |
During 2021, The Genoa Banking Company's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 313 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 316 | $47,450,000 | $150,158 | $3,287 | 3.00% |
| $200k-400k | 282 | $77,470,000 | $274,716 | $3,849 | 3.05% |
| $100,000 or less | 173 | $11,745,000 | $67,890 | $2,503 | 3.58% |
| $400k-600k | 44 | $21,150,000 | $480,682 | $4,444 | 3.17% |
| $600k-1MM | 12 | $9,460,000 | $788,333 | $5,380 | 3.42% |
| $1MM+ | 4 | $10,900,000 | $2,725,000 | $6,845 | 3.56% |
2021 saw The Genoa Banking Company place emphasis on $100k-200k loans with 316 originations, totaling $47,450,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 185 | $40,275,000 | $217,703 | $3,711 | 2.99% |
| $75k-100k | 158 | $30,610,000 | $193,734 | $3,412 | 3.05% |
| $50k-75k | 157 | $23,415,000 | $149,140 | $3,184 | 3.09% |
| $150k-250k | 115 | $29,485,000 | $256,391 | $3,519 | 3.20% |
| $50k or less | 99 | $11,975,000 | $120,960 | $3,174 | 3.06% |
| $250k+ | 60 | $20,670,000 | $344,500 | $3,836 | 3.03% |
The Genoa Banking Company lent most frequently to those with incomes in the $100k-150k range, with 185 originations. The second most popular income band? $75k-100k, with 158 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 234 | $50,210,000 | $214,573 | $3,474 | 3.01% |
| 30-36% | 159 | $32,005,000 | $201,289 | $3,440 | 3.07% |
| <20% | 127 | $23,565,000 | $185,551 | $3,247 | 3.01% |
| 39% | 35 | $6,935,000 | $198,143 | $3,675 | 3.18% |
| 40% | 30 | $5,850,000 | $195,000 | $3,615 | 3.08% |
| 37% | 25 | $6,675,000 | $267,000 | $3,329 | 3.10% |
| 38% | 23 | $5,665,000 | $246,304 | $3,393 | 3.14% |
| 44% | 22 | $5,020,000 | $228,182 | $3,664 | 3.28% |
| 36% | 21 | $5,595,000 | $266,429 | $3,718 | 3.25% |
| 41% | 17 | $3,835,000 | $225,588 | $3,608 | 3.04% |
| 43% | 17 | $4,405,000 | $259,118 | $3,792 | 2.99% |
| 50-60% | 13 | $3,315,000 | $255,000 | $3,961 | 3.30% |
| 42% | 11 | $1,445,000 | $131,364 | $2,341 | 3.49% |
| 46% | 11 | $2,575,000 | $234,091 | $3,604 | 3.08% |
| 47% | 10 | $2,040,000 | $204,000 | $3,444 | 3.31% |
| >60% | 10 | $2,870,000 | $287,000 | $3,611 | 3.82% |
| 45% | 7 | $1,865,000 | $266,429 | $3,657 | 3.18% |
| 48% | 6 | $1,410,000 | $235,000 | $3,404 | 2.60% |
| 49% | 5 | $705,000 | $141,000 | $3,129 | 2.93% |
The Genoa Banking Company lent most frequently to those with DTI ratios of 20-30%, with 234 originations. The next most common DTI ratio? 30-36%, with 159 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 756 | $152,670,000 | $201,944 | $3,453 | 3.07% |
| Not applicable | 50 | $19,700,000 | $394,000 | $0 | 4.35% |
| Not provided | 14 | $3,110,000 | $222,143 | $3,392 | 3.15% |
| Black | 7 | $1,575,000 | $225,000 | $3,583 | 3.41% |
| Asian | 3 | $915,000 | $305,000 | $3,993 | 2.79% |
| Korean | 1 | $205,000 | $205,000 | $3,725 | 3.00% |
Approval Rates
Total approvals of all applications93.04%
The Genoa Banking Company has an average approval rate.
Pick Rate
Approvals leading to origination85.43%
The Genoa Banking Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 370.0 | 4 | $150,000 | $37,500 |
| NA | 827 | $178,025,000 | $215,266 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 831 | $178,175,000 | $214,410 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 51 | $6,985,000 | $136,961 | $2,828 | 3.33% |
| 40-60% | 144 | $31,670,000 | $219,931 | $3,447 | 2.96% |
| 60-80% | 377 | $84,505,000 | $224,151 | $3,499 | 3.16% |
| 80-100% | 242 | $54,350,000 | $224,587 | $3,681 | 3.12% |
| Under 20% | 17 | $665,000 | $39,118 | $999 | 4.57% |
