Ohio Valley Community Federal Credit Union Mortgage Rates, Fees & Info

Clarington, OH

LEI: 549300Z736FEFLWQ4G83

Tax ID: 34-0871103

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Ohio Valley Community Federal Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Ohio Valley Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wheeling, Marietta, Weirton, Cambridge, and Parkersburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Ohio Valley Community Federal Credit Union has a below average approval rate when compared to the average across all lenders. Ohio Valley Community Federal Credit Union 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.79% 5/4/24
    30 Year Conventional Refi 6.82% 5/4/24
    30 Year Cash-out Refi 6.96% 5/4/24
    30 Year USDA Purchase 5.53% 5/4/24
    15 Year Conventional Purchase 8.93% 5/4/24
    15 Year Conventional Refi 5.58% 5/4/24
    15 Year Cash-out Refi 5.58% 5/4/24
    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.

    Ohio Valley Community Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Ohio Valley Community Federal Credit Union. 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

    66

    Origination Dollar Volume (All Markets)

    $9,150,000

    Awards

    OHIO VALLEY COMMUNITY FEDERAL CREDIT UNION 30 Year Conventional Loans silver OHIO VALLEY COMMUNITY FEDERAL CREDIT UNION 30 Year Conventional Loans bronze OHIO VALLEY COMMUNITY FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (3) 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
    WHEELING, WV-OH (FHA|USDA|VA) 32 $3,830,000 $119,688 $2,475 4.03%
    Outside of Metro Areas 22 $3,310,000 $150,455 $2,434 3.77%
    Marietta, OH (FHA|USDA|VA) 7 $1,145,000 $163,571 $2,574 3.75%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 2 $340,000 $170,000 $2,780 3.75%
    Cambridge, OH (FHA|USDA|VA) 1 $285,000 $285,000 $1,038 5.75%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 2 $240,000 $120,000 $2,201 3.56%
    Ohio Valley Community Federal Credit Union's top markets include Wheeling, Marietta, Weirton, Cambridge, and Parkersburg among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against OHIO VALLEY COMMUNITY FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Community Bank
    Similarity Rank: 98
    Belmont Savings Bank
    Similarity Rank: 102
    OHIO VALLEY COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 108
    United Bank
    Similarity Rank: 450
    BAYER HERITAGE
    Similarity Rank: 525
    WesBanco
    Similarity Rank: 2232
    Mortgage Research Center, LLC
    Similarity Rank: 2763
    T2 FINANCIAL LLC
    Similarity Rank: 4431
    DAS Acquisition Company, LLC
    Similarity Rank: 6570
    Truist
    Similarity Rank: 7172

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 66 $9,150,000 $138,636 $2,451 3.92%

    For 2020, Ohio Valley Community Federal Credit Union's most frequently originated type of loan was Conventional, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 33 $3,985,000 $120,758 $2,487 3.96%
    Cash Out Refi 20 $2,090,000 $104,500 $2,210 4.16%
    Refi 13 $3,075,000 $236,538 $2,729 3.44%

    For 2020, Ohio Valley Community Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 50 $7,070,000 $141,400 $2,420 3.94%
    15 Year 7 $645,000 $92,143 $2,049 3.73%
    20 Year 4 $430,000 $107,500 $2,211 3.53%
    30+ year 3 $875,000 $291,667 $4,384 4.29%
    10 Year 2 $130,000 $65,000 $2,201 4.38%

    For 2020, Ohio Valley Community Federal Credit Union's most frequently cited loan duration was 30 Year, with 50 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 43 $5,735,000 $133,372
    $1k-2k 21 $2,955,000 $140,714
    $2k-3k 2 $460,000 $230,000

    Ohio Valley Community Federal Credit Union's average total fees were $2,420, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 43 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 41 $6,305,000 $153,780
    4-5% 19 $2,315,000 $121,842
    5-6% 6 $530,000 $88,333

    During 2020, Ohio Valley Community Federal Credit Union's average interest rate for loans was 3.94%, while their most frequently originated rate bucket for loans was 3-4%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 35 $2,375,000 $67,857 $2,173 4.09%
    $100k-200k 18 $2,670,000 $148,333 $2,474 3.77%
    $200k-400k 10 $2,400,000 $240,000 $2,923 3.70%
    $400k-600k 2 $1,010,000 $505,000 $4,195 3.69%
    $600k-1MM 1 $695,000 $695,000 $3,544 3.38%

    2020 saw Ohio Valley Community Federal Credit Union place emphasis on $100,000 or less loans with 35 originations, totaling $2,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 20 $1,480,000 $74,000 $2,163 4.32%
    $50k-75k 15 $1,525,000 $101,667 $2,199 3.81%
    $100k-150k 14 $2,630,000 $187,857 $2,748 3.94%
    $75k-100k 12 $1,860,000 $155,000 $2,748 3.54%
    $150k-250k 4 $960,000 $240,000 $2,632 3.53%
    $250k+ 1 $695,000 $695,000 $3,544 3.38%

    Ohio Valley Community Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $50k-75k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $2,875,000 $151,316 $2,488 3.60%
    30-36% 17 $3,435,000 $202,059 $2,782 3.95%
    <20% 13 $965,000 $74,231 $2,259 3.79%
    37% 5 $725,000 $145,000 $2,332 3.93%
    40% 3 $245,000 $81,667 $2,067 4.54%
    41% 2 $140,000 $70,000 $2,161 4.13%
    47% 2 $250,000 $125,000 $1,918 3.94%
    43% 1 $55,000 $55,000 $2,020 5.00%
    44% 1 $45,000 $45,000 $1,941 4.25%
    45% 1 $95,000 $95,000 $2,899 5.00%
    50-60% 1 $45,000 $45,000 $653 5.88%
    36% 1 $275,000 $275,000 $4,276 4.38%

    Ohio Valley Community Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 64 $8,920,000 $139,375 $2,465 3.90%
    American Indian 1 $145,000 $145,000 $2,010 3.63%
    Black 1 $85,000 $85,000 $1,975 5.50%

    Approval Rates

    Total approvals of all applications
    56.41%

    Ohio Valley Community Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 66 $9,150,000 $138,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $260,000 $130,000
    Single Family (1-4 Units):Site-Built 64 $8,890,000 $138,906

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 6 $600,000 $100,000 $1,809 3.88%
    60-80% 23 $3,275,000 $142,391 $2,556 3.83%
    80-100% 37 $5,275,000 $142,568 $2,490 3.98%