The Genoa Banking Company Mortgage Rates, Fees & Info

GENOA, OH

LEI: 549300DRKI1J5D73X280

Tax ID: 34-4242080

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Mortgage Data

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, Monroe, Fremont, Columbus, and Findlay among others. We have data for 29 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% 3/28/24
30 Year Conventional Refi 6.75% 3/28/24
30 Year Cash-out Refi 6.70% 3/28/24
15 Year Conventional Purchase 6.26% 3/28/24
15 Year Conventional Refi 6.29% 3/28/24
15 Year Cash-out Refi 6.29% 3/28/24
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 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

831

Origination Dollar Volume (All Markets)

$178,175,000

Awards

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

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) 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.

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

    Bay Area Credit Union, Inc.
    Similarity Rank: 12
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 831 $178,175,000 $214,410 $3,455 3.15%

    For 2021, The Genoa Banking Company's most frequently originated type of loan was Conventional, with 831 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, The Genoa Banking Company's most frequently cited loan purpose was Home Purchase, with 383 originations. The 2nd most popular reason was 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 2021, The Genoa Banking Company's most frequently cited loan duration was 30 Year, with 391 originations. The 2nd most popular length was 15 Year, with 214 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    The Genoa Banking Company's average total fees were $3,480, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.02%, while their most frequently originated rate bucket for loans was 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 applications
    94.35%

    The Genoa Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.44%

    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%