The Genoa Banking Company Mortgage Rates, Fees & Info
GENOA, OHLEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 12/16/24 |
| 30 Year Conventional Refi | 6.75% | 12/16/24 |
| 30 Year Cash-out Refi | 6.70% | 12/16/24 |
| 15 Year Conventional Purchase | 6.26% | 12/16/24 |
| 15 Year Conventional Refi | 6.29% | 12/16/24 |
| 15 Year Cash-out Refi | 6.29% | 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 Genoa Banking Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
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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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% |
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.
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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
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
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
2021 saw The Genoa Banking Company place emphasis on $100k-200k loans with 316 originations, totaling $47,450,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications94.35%
The Genoa Banking Company has an average approval rate.
Pick Rate
Approvals leading to origination85.44%
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 |