The Genoa Banking Company Mortgage Rates, Fees & Info

GENOA, OH

LEI: 549300DRKI1J5D73X280

Tax ID: 34-4242080

5 stars - Updated: 7/7/25 - out of 5 stars, based on 19 reviews

Latest/2024 | 2023 Data | 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 Genoa Banking Company is a smaller bank specializing in Home Purchase loans. The Genoa Banking Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Toledo, Fremont, Monroe, Columbus, and Cape Coral among others. We have data for 16 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 an above 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 6.81% 7/7/25
    30 Year Conventional Refi 6.99% 7/7/25
    30 Year Cash-out Refi 6.70% 7/7/25
    30 Year FHA Purchase 11.11% 7/7/25
    30 Year VA Purchase 13.69% 7/7/25
    15 Year Conventional Purchase 6.58% 7/7/25
    15 Year Conventional Refi 7.57% 7/7/25
    15 Year Cash-out Refi 7.57% 7/7/25
    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 Genoa 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 Genoa 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

    377

    Origination Dollar Volume (All Markets)

    $85,615,000

    Awards

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

    Relative Rate

    The Genoa Banking Company's average 30 year fixed mortgage rate was 6.57%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.02%.

    Relative Fees (Closing Costs)

    The Genoa Banking Company's average total fees/closing costs for a 30 year fixed rate mortgage were $4,273.

    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 $8,356.

    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) 312 $69,150,000 $221,635 $4,047 6.98%
    Fremont, OH (FHA|USDA|VA) 27 $4,805,000 $177,963 $4,244 7.08%
    MONROE, MI (FHA|USDA|VA) 7 $2,485,000 $355,000 $4,039 7.48%
    COLUMBUS, OH (FHA|USDA|VA) 2 $1,940,000 $970,000 $6,443 7.44%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $1,330,000 $665,000 $6,145 7.75%
    Outside of Metro Areas 6 $1,280,000 $213,333 $4,244 7.02%
    Sandusky, OH (FHA|USDA|VA) 6 $930,000 $155,000 $3,824 6.96%
    Findlay, OH (FHA|USDA|VA) 3 $775,000 $258,333 $4,441 7.00%
    Key West, FL (FHA|USDA|VA) 1 $645,000 $645,000 $7,054 7.50%
    Olean, NY (FHA|USDA|VA) 1 $405,000 $405,000 $0 7.79%
    Norwalk, OH (FHA|USDA|VA) 4 $400,000 $100,000 $3,507 6.47%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $355,000 $355,000 $4,396 7.00%
    Warsaw, IN (FHA|USDA|VA) 1 $325,000 $325,000 $3,495 7.50%
    Adrian, MI (FHA|USDA|VA) 1 $285,000 $285,000 $3,912 7.00%
    Tiffin, OH (FHA|USDA|VA) 2 $280,000 $140,000 $2,036 8.25%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $225,000 $225,000 $5,008 6.63%
    The Genoa Banking Company's top markets include Toledo, Fremont, Monroe, Columbus, and Cape Coral among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Indiana (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.

    First Federal Savings and Loan Association of Delta
    Similarity Rank: 33
    MONROE COUNTY COMMUNITY CREDIT UNION
    Similarity Rank: 72
    Fremont Federal Credit Union
    Similarity Rank: 144
    GLASS CITY Federal Credit Union
    Similarity Rank: 184
    MORTGAGE CENTER L.C
    Similarity Rank: 270
    SUN Federal Credit Union
    Similarity Rank: 328
    UNION CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 336
    Directions Credit Union, Inc.
    Similarity Rank: 351
    The Genoa Banking Company
    Similarity Rank: 400
    The Farmers & Merchants State Bank
    Similarity Rank: 705

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 373 $84,445,000 $226,394 $4,045 7.01%
    FHA 2 $510,000 $255,000 $8,942 6.94%
    VA 2 $660,000 $330,000 $5,806 6.88%

    For 2024, The Genoa Banking Company's most frequently originated type of loan was Conventional, with 373 originations. Their 2nd most popular type was FHA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 299 $71,165,000 $238,010 $4,396 6.88%
    Refi 37 $8,035,000 $217,162 $3,277 7.58%
    Other 16 $2,060,000 $128,750 $2,055 8.02%
    Home Improvement 13 $1,045,000 $80,385 $1,472 7.41%
    Cash Out Refi 12 $3,310,000 $275,833 $4,195 6.65%

    For 2024, The Genoa Banking Company's most frequently cited loan purpose was Home Purchase, with 299 originations. The 2nd most popular reason was Refi, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 223 $44,045,000 $197,511 $4,273 6.57%
    5 Year 36 $9,640,000 $267,778 $4,021 7.75%
    20 Year 33 $6,985,000 $211,667 $0 7.93%
    15 Year 29 $5,025,000 $173,276 $2,791 7.38%
    Other 21 $6,605,000 $314,524 $3,323 7.59%
    30+ year 11 $4,515,000 $410,455 $5,602 7.17%
    1 Year 11 $5,195,000 $472,273 $6,565 7.79%
    10 Year 11 $3,285,000 $298,636 $3,166 7.47%
    3 Year 2 $320,000 $160,000 $267 8.56%

    For 2024, The Genoa Banking Company's most frequently cited loan duration was 30 Year, with 223 originations. The 2nd most popular length was 5 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 268 $61,740,000 $230,373
    $<1k 27 $2,565,000 $95,000
    $2k-3k 15 $6,625,000 $441,667
    $4k-5k 3 $1,335,000 $445,000
    $5k+ 3 $1,705,000 $568,333
    $3k-4k 2 $560,000 $280,000

    The Genoa Banking Company's average total fees were $4,273, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 268 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 178 $37,150,000 $208,708
    7-8% 122 $34,850,000 $285,656
    Over 8% 40 $7,080,000 $177,000
    5-6% 34 $5,690,000 $167,353
    4-5% 2 $60,000 $30,000

    During 2024, The Genoa Banking Company's average interest rate for loans was 6.57%, while their most frequently originated rate bucket for loans was 6-7%, with 178 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 138 $20,280,000 $146,957 $3,980 6.75%
    $200k-400k 121 $33,355,000 $275,661 $4,542 7.04%
    $100,000 or less 74 $4,490,000 $60,676 $2,534 7.21%
    $400k-600k 31 $15,015,000 $484,355 $4,960 7.39%
    $600k-1MM 8 $5,410,000 $676,250 $6,529 7.27%
    $1MM+ 5 $7,065,000 $1,413,000 $7,560 7.60%

    2024 saw The Genoa Banking Company place emphasis on $100k-200k loans with 138 originations, totaling $20,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 82 $18,680,000 $227,805 $4,252 6.95%
    $50k-75k 68 $9,870,000 $145,147 $3,950 6.41%
    $75k-100k 60 $9,890,000 $164,833 $3,907 6.94%
    $150k-250k 54 $15,860,000 $293,704 $4,350 7.12%
    $250k+ 37 $18,285,000 $494,189 $4,740 7.30%
    $50k or less 31 $3,185,000 $102,742 $3,177 6.76%

    The Genoa Banking Company lent most frequently to those with incomes in the $100k-150k range, with 82 originations. The second most popular income band? $50k-75k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $12,745,000 $179,507 $3,945 6.73%
    30-36% 63 $11,805,000 $187,381 $3,957 6.83%
    <20% 39 $8,385,000 $215,000 $3,705 6.85%
    36% 18 $4,210,000 $233,889 $4,542 6.74%
    40% 16 $3,360,000 $210,000 $4,554 6.72%
    42% 15 $2,285,000 $152,333 $3,131 7.32%
    38% 14 $2,870,000 $205,000 $3,859 7.02%
    39% 13 $4,115,000 $316,538 $5,131 7.32%
    41% 10 $2,730,000 $273,000 $5,176 7.04%
    43% 10 $2,950,000 $295,000 $4,240 7.01%
    48% 9 $2,365,000 $262,778 $4,280 7.04%
    37% 9 $2,005,000 $222,778 $4,166 6.79%
    >60% 8 $4,890,000 $611,250 $5,505 7.68%
    44% 8 $2,230,000 $278,750 $3,940 6.53%
    46% 7 $1,205,000 $172,143 $3,714 6.48%
    50-60% 7 $3,305,000 $472,143 $5,481 7.84%
    47% 5 $2,395,000 $479,000 $4,967 7.25%
    49% 5 $765,000 $153,000 $3,937 6.40%
    45% 4 $860,000 $215,000 $4,179 6.31%

    The Genoa Banking Company lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 322 $74,320,000 $230,807 $4,096 6.90%
    Not applicable 36 $7,880,000 $218,889 $0 8.09%
    Not provided 8 $1,750,000 $218,750 $4,200 6.47%
    Black 10 $1,530,000 $153,000 $3,688 7.24%
    Asian 1 $135,000 $135,000 $3,722 6.13%

    Approval Rates

    Total approvals of all applications
    96.27%

    The Genoa Banking Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.45%

    The Genoa Banking Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 377 $85,615,000 $227,095

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    377 $85,615,000 $227,095

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $2,825,000 $113,000 $2,031 7.48%
    40-60% 38 $6,400,000 $168,421 $3,566 6.80%
    60-80% 130 $31,700,000 $243,846 $4,310 7.20%
    80-100% 165 $41,355,000 $250,636 $4,498 6.78%
    Over 100% 3 $1,265,000 $421,667 $0 8.33%
    Under 20% 11 $785,000 $71,364 $1,501 7.76%