The Genoa Banking Company Mortgage Rates, Fees & Info

GENOA, OH

LEI: 549300DRKI1J5D73X280

Tax ID: 34-4242080

5 stars - out of 5 stars, based on 23 reviews

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

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Mortgage Data

  • SimulatedRates™
  • 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 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 by origination volume include: Toledo, Fremont, Monroe, Cape Coral, and North Port among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Genoa 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 Genoa 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 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.

    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 6.76% 3/28/23
    30 Year Conventional Refi 6.75% 3/28/23
    30 Year Cash-out Refi 6.70% 3/28/23
    15 Year Conventional Purchase 6.26% 3/28/23
    15 Year Conventional Refi 6.29% 3/28/23
    15 Year Cash-out Refi 6.29% 3/28/23
    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.


    Originations

    507

    Origination Dollar Volume (All Markets)

    $111,315,000

    Awards

    The Genoa Banking Company 30 Year Conventional Loans gold The Genoa Banking Company 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    The Genoa Banking Company's average 30 year fixed mortgage rate was 4.87%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.11%.

    Relative Fees (Closing Costs)

    The Genoa Banking Company's average total fees/closing costs for a 30 year fixed rate mortgage were $3,864.

    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 $4,750.

    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
    TOLEDO, OH (FHA|USDA|VA) 428 $87,440,000 $204,299 $3,476 4.87%
    Fremont, OH (FHA|USDA|VA) 26 $5,680,000 $218,462 $3,687 5.20%
    MONROE, MI (FHA|USDA|VA) 11 $2,965,000 $269,545 $3,972 4.76%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $2,675,000 $535,000 $5,187 4.55%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $2,325,000 $2,325,000 $0 2.75%
    Outside of Metro Areas 5 $1,845,000 $369,000 $3,903 5.95%
    Sandusky, OH (FHA|USDA|VA) 4 $1,310,000 $327,500 $4,420 5.34%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $1,235,000 $411,667 $4,441 4.54%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $4,659 3.05%
    Tiffin, OH (FHA|USDA|VA) 3 $965,000 $321,667 $4,525 4.33%
    COLUMBUS, OH (FHA|USDA|VA) 3 $635,000 $211,667 $3,916 5.33%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $580,000 $290,000 $4,980 3.69%
    Norwalk, OH (FHA|USDA|VA) 3 $515,000 $171,667 $3,609 4.62%
    JACKSON, MI (FHA|USDA|VA) 1 $275,000 $275,000 $3,109 3.50%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $255,000 $255,000 $3,612 4.13%
    Traverse City, MI (FHA|USDA|VA) 1 $255,000 $255,000 $3,006 6.25%
    Findlay, OH (FHA|USDA|VA) 3 $245,000 $81,667 $2,152 4.63%
    Decatur, IN (FHA|USDA|VA) 1 $235,000 $235,000 $0 5.00%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,242 5.50%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.50%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,481 4.25%
    Hillsdale, MI (FHA|USDA|VA) 1 $165,000 $165,000 $3,095 4.50%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.50%
    The Genoa Banking Company's top markets include Toledo, Fremont, Monroe, Cape Coral, and North Port among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    Bay Area Credit Union, Inc.
    Similarity Rank: 18
    First Federal Savings and Loan Association of Delta
    Similarity Rank: 200
    MONROE COUNTY COMMUNITY CREDIT UNION
    Similarity Rank: 216
    First National Bank of Bellevue
    Similarity Rank: 444
    First Federal Savings and Loan Association of Lorain
    Similarity Rank: 666
    The Croghan Colonial Bank
    Similarity Rank: 840
    STAUNTON FINANCIAL, INC.
    Similarity Rank: 990
    The Old Fort Banking Company
    Similarity Rank: 1176
    BLG HOLDINGS, INC.
    Similarity Rank: 1449
    Union Savings Bank
    Similarity Rank: 1670

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 506 $111,280,000 $219,921 $3,533 4.87%
    HELOC 1 $35,000 $35,000 n/a 5.25%

    For 2022, The Genoa Banking Company's most frequently originated type of loan was Conventional, with 506 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 301 $70,695,000 $234,867 $4,233 4.99%
    Refi 119 $30,525,000 $256,513 $3,188 4.49%
    Home Improvement 39 $4,105,000 $105,256 $1,125 5.10%
    Cash Out Refi 27 $4,985,000 $184,630 $3,526 4.69%
    Other 21 $1,005,000 $47,857 $803 5.17%

    For 2022, The Genoa Banking Company's most frequently cited loan purpose was Home Purchase, with 301 originations. The 2nd most popular reason was Refi, with 119 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 173 $39,645,000 $229,162 $3,864 4.87%
    15 Year 102 $14,650,000 $143,627 $2,899 4.66%
    Other 68 $15,030,000 $221,029 $3,135 4.79%
    10 Year 59 $11,875,000 $201,271 $3,060 4.29%
    20 Year 49 $12,075,000 $246,429 $3,725 5.56%
    30+ year 26 $10,080,000 $387,692 $5,674 5.11%
    1 Year 18 $5,730,000 $318,333 $9,338 6.01%
    5 Year 11 $825,000 $75,000 $1,592 5.37%
    3 Year 1 $1,405,000 $1,405,000 $0 4.00%

    For 2022, The Genoa Banking Company's most frequently cited loan duration was 30 Year, with 173 originations. The 2nd most popular length was 15 Year, with 102 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 342 $81,370,000 $237,924
    $<1k 58 $3,170,000 $54,655
    $2k-3k 3 $625,000 $208,333
    $4k-5k 1 $195,000 $195,000
    $5k+ 1 $525,000 $525,000

    The Genoa Banking Company's average total fees were $3,864, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 342 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 151 $31,005,000 $205,331
    5-6% 120 $26,240,000 $218,667
    3-4% 112 $27,040,000 $241,429
    6-7% 69 $13,735,000 $199,058
    2.5-3% 30 $8,870,000 $295,667
    7-8% 16 $1,970,000 $123,125
    <2.5% 4 $440,000 $110,000
    Over 8% 3 $145,000 $48,333

    During 2022, The Genoa Banking Company's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 4-5%, with 151 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 160 $23,840,000 $149,000 $3,478 4.92%
    $200k-400k 146 $40,910,000 $280,205 $4,240 4.71%
    $100,000 or less 140 $8,190,000 $58,500 $1,959 5.07%
    $400k-600k 40 $19,130,000 $478,250 $5,471 4.70%
    $600k-1MM 16 $12,040,000 $752,500 $5,612 4.91%
    $1MM+ 5 $7,205,000 $1,441,000 $4,659 3.83%

    2022 saw The Genoa Banking Company place emphasis on $100k-200k loans with 160 originations, totaling $23,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 103 $22,585,000 $219,272 $3,754 4.83%
    $75k-100k 85 $13,855,000 $163,000 $3,424 4.64%
    $150k-250k 83 $20,985,000 $252,831 $3,653 4.93%
    $50k-75k 81 $12,695,000 $156,728 $3,330 4.79%
    $50k or less 53 $5,945,000 $112,170 $2,859 4.74%
    $250k+ 38 $16,730,000 $440,263 $4,316 4.54%

    The Genoa Banking Company lent most frequently to those with incomes in the $100k-150k range, with 103 originations. The second most popular income band? $75k-100k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 133 $25,195,000 $189,436 $3,311 4.67%
    30-36% 65 $13,445,000 $206,846 $3,418 4.56%
    <20% 61 $13,175,000 $215,984 $3,173 4.69%
    40% 18 $4,370,000 $242,778 $3,714 5.17%
    37% 18 $3,860,000 $214,444 $3,900 4.92%
    43% 18 $3,800,000 $211,111 $3,850 4.99%
    38% 16 $3,480,000 $217,500 $3,342 4.94%
    36% 15 $2,825,000 $188,333 $3,370 5.09%
    42% 13 $2,275,000 $175,000 $3,520 4.61%
    41% 12 $3,180,000 $265,000 $3,862 4.52%
    39% 12 $2,800,000 $233,333 $4,321 5.22%
    >60% 12 $3,430,000 $285,833 $4,347 4.69%
    50-60% 11 $3,955,000 $359,545 $4,339 5.31%
    44% 10 $2,410,000 $241,000 $3,816 4.86%
    46% 9 $1,965,000 $218,333 $4,633 5.51%
    47% 8 $2,660,000 $332,500 $4,430 4.30%
    48% 6 $730,000 $121,667 $2,830 4.81%
    45% 5 $1,645,000 $329,000 $4,478 5.15%
    49% 4 $450,000 $112,500 $3,132 4.53%

    The Genoa Banking Company lent most frequently to those with DTI ratios of 20-30%, with 133 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 429 $90,535,000 $211,037 $3,528 4.79%
    Not applicable 57 $16,995,000 $298,158 $0 5.63%
    Not provided 13 $2,605,000 $200,385 $4,078 4.84%
    Native Hawaiian or Islander 1 $435,000 $435,000 $3,480 3.38%
    Black 4 $330,000 $82,500 $2,601 4.31%
    Asian 2 $300,000 $150,000 $3,780 4.87%
    Other Asian 1 $115,000 $115,000 $3,116 5.25%

    Approval Rates

    Total approvals of all applications
    94.33%

    The Genoa Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.85%

    The Genoa Banking Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 507 $111,315,000 $219,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    507 $111,315,000 $219,556

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $4,805,000 $98,061 $1,956 5.10%
    40-60% 64 $15,640,000 $244,375 $3,677 4.73%
    60-80% 182 $49,430,000 $271,593 $3,904 4.87%
    80-100% 174 $38,690,000 $222,356 $4,124 4.80%
    Over 100% 1 $375,000 $375,000 $4,715 4.50%
    Under 20% 34 $1,640,000 $48,235 $772 5.05%