The Commercial And Savings Bank Of Millersburg Ohio Mortgage Rates, Fees & Info
Millersburg, OHLEI: 254900VHR12KN8C3F913
Tax ID: 34-0159850
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Mortgage Data
Review & Overview
The Commercial And Savings Bank Of Millersburg Ohio is a smaller bank specializing in Home Purchase loans. The Commercial And Savings Bank Of Millersburg Ohio has a high proportion of conventional loans. The Commercial And Savings Bank Of Millersburg Ohio has an average proportion of conventional loans. Their top markets by origination volume include: Wooster, New Philadelphia, Canton, Akron, and North Port among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)The Commercial And Savings Bank Of Millersburg Ohio 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 Commercial And Savings Bank Of Millersburg 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.93% | 4/21/24 |
| 30 Year Conventional Refi | 6.85% | 4/21/24 |
| 30 Year Cash-out Refi | 7.23% | 4/21/24 |
| 15 Year Conventional Purchase | 6.55% | 4/21/24 |
| 15 Year Conventional Refi | 6.42% | 4/21/24 |
| 15 Year Cash-out Refi | 6.42% | 4/21/24 |
| 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 Commercial And Savings Bank Of Millersburg Ohio Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
416Origination Dollar Volume (All Markets)
$69,450,000Awards
The Commercial and Savings Bank of Millersburg Ohio - 2023
The Commercial and Savings Bank of Millersburg Ohio is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
The Commercial And Savings Bank Of Millersburg Ohio's average 30 year fixed mortgage rate was
6.59%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.11%.
Relative Fees (Closing Costs)
The Commercial And Savings Bank Of Millersburg Ohio's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,389.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 138 | $22,320,000 | $161,739 | $3,626 | 6.79% |
| Wooster, OH (FHA|USDA|VA) | 88 | $13,480,000 | $153,182 | $3,831 | 6.88% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 85 | $11,335,000 | $133,353 | $3,119 | 7.02% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 29 | $5,095,000 | $175,690 | $3,707 | 7.13% |
| AKRON, OH (FHA|USDA|VA) | 21 | $4,565,000 | $217,381 | $4,508 | 7.23% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 6 | $3,150,000 | $525,000 | $5,315 | 6.58% |
| Coshocton, OH (FHA|USDA|VA) | 18 | $2,140,000 | $118,889 | $2,972 | 7.15% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 10 | $2,060,000 | $206,000 | $5,246 | 6.55% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $1,855,000 | $1,855,000 | $0 | 6.17% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $2,994 | 7.17% |
| Ashland, OH (FHA|USDA|VA) | 6 | $740,000 | $123,333 | $3,156 | 7.35% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $6,468 | 6.63% |
| Mount Vernon, OH (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $5,420 | 7.56% |
| Zanesville, OH (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,591 | 6.20% |
| Athens, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,220 | 5.75% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,664 | 6.50% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,616 | 7.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 9.00% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Commercial and Savings Bank of Millersburg Ohio based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 9
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 235 | $51,265,000 | $218,149 | $3,701 | 6.94% |
| Conventional | 181 | $18,185,000 | $100,470 | $0 | 0.00% |
For 2023, The Commercial And Savings Bank Of Millersburg Ohio's most frequently originated type of loan was Conventional, with 235 originations. Their 2nd most popular type was Conventional, with 181 originations.
Loan Reason
For 2023, The Commercial And Savings Bank Of Millersburg Ohio's most frequently cited loan purpose was Home Purchase, with 161 originations. The 2nd most popular reason was Home Improvement, with 82 originations.
Loan Duration/Length
For 2023, The Commercial And Savings Bank Of Millersburg Ohio's most frequently cited loan duration was Other, with 187 originations. The 2nd most popular length was 30 Year, with 141 originations.
Origination Fees/Closing Costs
The Commercial And Savings Bank Of Millersburg Ohio's average total fees were $3,389, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 65 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 108 | $26,780,000 | $247,963 |
| 7-8% | 57 | $11,945,000 | $209,561 |
| 5-6% | 44 | $9,020,000 | $205,000 |
| Over 8% | 26 | $3,520,000 | $135,385 |
During 2023, The Commercial And Savings Bank Of Millersburg Ohio's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was 6-7%, with 108 originations.
Loan Sizing
2023 saw The Commercial And Savings Bank Of Millersburg Ohio place emphasis on $100,000 or less loans with 174 originations, totaling $9,630,000 in origination value.
Applicant Income
The Commercial And Savings Bank Of Millersburg Ohio lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $75k-100k, with 88 originations.
Applicant Debt to Income Ratio
The Commercial And Savings Bank Of Millersburg Ohio lent most frequently to those with DTI ratios of Exempt%, with 181 originations. The next most common DTI ratio? 20-30%, with 60 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.00%
The Commercial And Savings Bank Of Millersburg Ohio has an average approval rate.
Pick Rate
Approvals leading to origination92.31%
The Commercial And Savings Bank Of Millersburg Ohio has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 199.0 | 1 | $15,000 | $15,000 |
| Exempt | 181 | $18,185,000 | $100,470 |
| NA | 234 | $51,250,000 | $219,017 |