The Ohio Valley Bank Company Mortgage Rates, Fees & Info

Gallipolis, OH

LEI: 549300JQGT4VX22XJ495

Tax ID: 31-4271820

5 stars - Updated: 7/11/24 - out of 5 stars, based on 18 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

The Ohio Valley Bank Company is a smaller bank specializing in Home Purchase loans. The Ohio Valley Bank Company has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Point Pleasant, Jackson, Charleston, and Athens among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Ohio Valley Bank 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 Ohio Valley Bank 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 relatively high 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 7.20% 7/11/24
30 Year Conventional Refi 7.46% 7/11/24
30 Year Cash-out Refi 6.54% 7/11/24
15 Year Conventional Purchase 7.22% 7/11/24
15 Year Conventional Refi 7.74% 7/11/24
15 Year Cash-out Refi 7.74% 7/11/24
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 Ohio Valley Bank Company Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Ohio Valley Bank 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

328

Origination Dollar Volume (All Markets)

$67,250,000
Show all (7) awards

Relative Rate

The Ohio Valley Bank Company's average 30 year fixed mortgage rate was 6.3%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.18%.

Relative Fees (Closing Costs)

The Ohio Valley Bank Company's average total fees/closing costs for a 30 year fixed rate mortgage were $3,556.

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 $9,089.

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
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 90 $21,650,000 $240,556 $3,359 6.47%
Point Pleasant, WV-OH (FHA|USDA|VA) 95 $17,415,000 $183,316 $3,375 6.52%
Outside of Metro Areas 67 $12,395,000 $185,000 $3,446 6.83%
Jackson, OH (FHA|USDA|VA) 33 $5,675,000 $171,970 $3,343 6.84%
CHARLESTON, WV (FHA|USDA|VA) 8 $2,020,000 $252,500 $3,520 6.75%
Athens, OH (FHA|USDA|VA) 7 $2,015,000 $287,857 $4,798 6.50%
COLUMBUS, OH (FHA|USDA|VA) 7 $1,935,000 $276,429 $4,229 6.44%
Chillicothe, OH (FHA|USDA|VA) 7 $1,345,000 $192,143 $3,202 8.11%
Portsmouth, OH (FHA|USDA|VA) 7 $785,000 $112,143 $3,132 7.75%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $505,000 $505,000 $5,084 5.38%
KNOXVILLE, TN (FHA|USDA|VA) 1 $455,000 $455,000 $0 6.50%
PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 2 $390,000 $195,000 $3,358 5.90%
Wilmington, OH (FHA|USDA|VA) 1 $255,000 $255,000 $4,572 5.88%
Marietta, OH (FHA|USDA|VA) 1 $245,000 $245,000 $4,619 5.50%
Washington Court House, OH (FHA|USDA|VA) 1 $165,000 $165,000 $3,526 7.13%
The Ohio Valley Bank Company's top markets include Huntington, Point Pleasant, Jackson, Charleston, and Athens among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Similar Lenders

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

    Huntington Federal Savings Bank
    Similarity Rank: 15
    THE VINTON COUNTY NATIONAL BANK
    Similarity Rank: 39
    DESCO
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    RAPID MORTGAGE COMPANY
    Similarity Rank: 162
    The Ohio Valley Bank Company
    Similarity Rank: 195
    Community Trust Bank, Inc.
    Similarity Rank: 378
    MYCUMORTGAGE, LLC
    Similarity Rank: 1292
    Summit Community Bank, Inc.
    Similarity Rank: 1440
    ASHLAND Credit Union
    Similarity Rank: 1645

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 328 $67,250,000 $205,030 $3,417 6.65%

    For 2023, The Ohio Valley Bank Company's most frequently originated type of loan was Conventional, with 328 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 264 $57,570,000 $218,068 $3,621 6.52%
    Refi 44 $7,540,000 $171,364 $2,584 6.89%
    Other 14 $1,390,000 $99,286 $2,466 8.38%
    Home Improvement 5 $705,000 $141,000 $3,287 6.48%
    Cash Out Refi 1 $45,000 $45,000 $2,327 8.25%

    For 2023, The Ohio Valley Bank Company's most frequently cited loan purpose was Home Purchase, with 264 originations. The 2nd most popular reason was Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 211 $46,995,000 $222,725 $3,556 6.30%
    20 Year 53 $8,165,000 $154,057 $2,962 7.27%
    Other 31 $7,075,000 $228,226 $3,177 6.86%
    15 Year 28 $3,700,000 $132,143 $2,609 7.99%
    10 Year 5 $1,315,000 $263,000 $2,416 6.28%

    For 2023, The Ohio Valley Bank Company's most frequently cited loan duration was 30 Year, with 211 originations. The 2nd most popular length was 20 Year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 189 $34,865,000 $184,471
    $1k-2k 35 $5,925,000 $169,286
    $2k-3k 29 $7,785,000 $268,448
    $3k-4k 7 $2,325,000 $332,143
    $5k+ 1 $1,275,000 $1,275,000

    The Ohio Valley Bank Company's average total fees were $3,556, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 189 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 125 $25,555,000 $204,440
    5-6% 86 $20,590,000 $239,419
    7-8% 79 $14,775,000 $187,025
    Over 8% 25 $2,475,000 $99,000
    4-5% 13 $3,855,000 $296,538

    During 2023, The Ohio Valley Bank Company's average interest rate for loans was 6.30%, while their most frequently originated rate bucket for loans was 6-7%, with 125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 115 $32,515,000 $282,739 $3,791 6.24%
    $100k-200k 108 $14,890,000 $137,870 $3,186 6.73%
    $100,000 or less 80 $5,450,000 $68,125 $2,694 7.24%
    $400k-600k 19 $8,985,000 $472,895 $4,487 6.20%
    $600k-1MM 4 $3,020,000 $755,000 $6,106 7.06%
    $1MM+ 2 $2,390,000 $1,195,000 $15,246 6.38%

    2023 saw The Ohio Valley Bank Company place emphasis on $200k-400k loans with 115 originations, totaling $32,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 90 $20,220,000 $224,667 $3,520 6.46%
    $150k-250k 52 $12,950,000 $249,038 $3,570 6.46%
    $50k-75k 52 $6,700,000 $128,846 $3,108 6.77%
    $75k-100k 45 $7,525,000 $167,222 $3,360 6.55%
    $50k or less 34 $3,450,000 $101,471 $3,087 6.65%
    $250k+ 13 $4,635,000 $356,538 $5,541 6.61%

    The Ohio Valley Bank Company lent most frequently to those with incomes in the $100k-150k range, with 90 originations. The second most popular income band? $150k-250k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 83 $15,655,000 $188,614 $3,257 6.39%
    30-36% 55 $11,915,000 $216,636 $3,709 6.73%
    <20% 34 $4,450,000 $130,882 $2,870 6.42%
    39% 22 $4,550,000 $206,818 $3,544 6.62%
    37% 10 $1,920,000 $192,000 $3,830 6.63%
    42% 9 $1,825,000 $202,778 $3,662 6.35%
    38% 9 $2,495,000 $277,222 $3,772 6.36%
    41% 9 $2,175,000 $241,667 $3,709 6.78%
    43% 9 $1,985,000 $220,556 $3,298 6.72%
    40% 7 $1,255,000 $179,286 $3,597 5.84%
    36% 5 $725,000 $145,000 $3,485 6.70%
    50-60% 4 $800,000 $200,000 $3,504 6.75%
    46% 4 $660,000 $165,000 $2,940 6.47%
    >60% 3 $855,000 $285,000 $4,484 6.46%
    48% 3 $585,000 $195,000 $3,493 6.83%
    47% 2 $270,000 $135,000 $2,876 6.31%
    44% 2 $240,000 $120,000 $2,185 8.25%
    45% 2 $500,000 $250,000 $4,052 6.63%
    49% 1 $495,000 $495,000 $4,285 5.25%

    The Ohio Valley Bank Company lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? 30-36%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 273 $53,315,000 $195,293 $3,418 6.57%
    Not applicable 39 $10,815,000 $277,308 $0 7.27%
    Not provided 9 $1,575,000 $175,000 $4,619 6.90%
    Black 4 $690,000 $172,500 $3,081 6.56%
    Asian Indian 1 $535,000 $535,000 $3,416 5.38%
    Asian 2 $320,000 $160,000 $3,307 6.19%

    Approval Rates

    Total approvals of all applications
    95.12%

    The Ohio Valley Bank 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
    93.60%

    The Ohio Valley Bank Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 328 $67,250,000 $205,030

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    328 $67,250,000 $205,030

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $2,140,000 $89,167 $2,710 7.19%
    40-60% 37 $6,335,000 $171,216 $3,465 6.77%
    60-80% 129 $25,565,000 $198,178 $3,540 6.68%
    80-100% 131 $32,795,000 $250,344 $3,508 6.37%
    Under 20% 7 $415,000 $59,286 $1,997 8.96%