Credit Union Of Ohio Mortgage Rates, Fees & Info
Hilliard, OHLEI: 549300WYRD3CZ6KH1N11
Tax ID: 31-0733646
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Mortgage Data
Review & Overview
Credit Union Of Ohio is a smaller credit union specializing in Other and Home Purchase loans. Credit Union Of Ohio has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Columbus, New Philadelphia, Marion, Portsmouth, and Cincinnati among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Credit Union Of Ohio has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union Of Ohio 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 | 7.15% | 11/23/24 |
| 30 Year Conventional Refi | 6.98% | 11/23/24 |
| 30 Year Cash-out Refi | 6.84% | 11/23/24 |
| 15 Year Conventional Purchase | 6.35% | 11/23/24 |
| 15 Year Conventional Refi | 5.92% | 11/23/24 |
| 15 Year Cash-out Refi | 5.92% | 11/23/24 |
| 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. | ||
Credit Union Of Ohio Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
57Origination Dollar Volume (All Markets)
$5,295,000Top 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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 47 | $4,405,000 | $93,723 | $3,169 | 5.30% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 6.25% |
| Marion, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,968 | 4.00% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 5.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,848 | 3.75% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,670 | 4.00% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $2,627 | 4.50% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $0 | 5.25% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against CREDIT UNION OF OHIO 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 | 56 | $5,140,000 | $91,786 | $3,084 | 5.24% |
| USDA | 1 | $155,000 | $155,000 | $4,968 | 4.00% |
For 2019, Credit Union Of Ohio's most frequently originated type of loan was Conventional, with 56 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2019, Credit Union Of Ohio's most frequently cited loan purpose was Other, with 32 originations. The 2nd most popular reason was Home Purchase, with 12 originations.
Loan Duration/Length
For 2019, Credit Union Of Ohio's most frequently cited loan duration was 10 Year, with 16 originations. The 2nd most popular length was 30 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 17 | $2,945,000 | $173,235 |
| $1k-2k | 2 | $310,000 | $155,000 |
Credit Union Of Ohio's average total fees were $3,278, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 26 | $1,290,000 | $49,615 |
| 3-4% | 10 | $1,690,000 | $169,000 |
| 4-5% | 9 | $1,605,000 | $178,333 |
| 6-7% | 7 | $465,000 | $66,429 |
| Over 8% | 1 | $35,000 | $35,000 |
During 2019, Credit Union Of Ohio's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 5-6%, with 26 originations.
Loan Sizing
2019 saw Credit Union Of Ohio place emphasis on $100,000 or less loans with 37 originations, totaling $1,735,000 in origination value.
Applicant Income
Credit Union Of Ohio lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
Credit Union Of Ohio lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 30-36%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications58.33%
Credit Union Of Ohio has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination73.68%
Credit Union Of Ohio has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 57 | $5,295,000 | $92,895 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 57 | $5,295,000 | $92,895 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Credit Plus Inc | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 66.7% |
| Credit Plus Inc | Conventional home mortgage | Improper use of your report | 1 | 33.3% |