The Commercial And Savings Bank Of Millersburg Ohio Mortgage Rates, Fees & Info

Millersburg, OH

LEI: 254900VHR12KN8C3F913

Tax ID: 34-0159850

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

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  • 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

    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. Their top markets by origination volume include: Wooster, New Philadelphia, Canton, Akron, and Columbus 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 a below 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.93% 11/22/24
    30 Year Conventional Refi 6.85% 11/22/24
    30 Year Cash-out Refi 7.23% 11/22/24
    15 Year Conventional Purchase 6.55% 11/22/24
    15 Year Conventional Refi 6.42% 11/22/24
    15 Year Cash-out Refi 6.42% 11/22/24
    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






    Your Estimates

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

    This is not an official calculator from The Commercial And Savings Bank Of Millersburg Ohio. 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

    257

    Origination Dollar Volume (All Markets)

    $53,185,000
    Show all (6) 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
    Outside of Metro Areas 58 $12,680,000 $218,621 $3,142 4.79%
    Wooster, OH (FHA|USDA|VA) 63 $12,345,000 $195,952 $4,040 5.10%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 59 $12,325,000 $208,898 $3,059 4.80%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 30 $6,950,000 $231,667 $3,733 5.18%
    AKRON, OH (FHA|USDA|VA) 17 $2,435,000 $143,235 $3,463 4.92%
    COLUMBUS, OH (FHA|USDA|VA) 4 $1,490,000 $372,500 $4,562 5.09%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $765,000 $255,000 $6,087 3.96%
    Mount Vernon, OH (FHA|USDA|VA) 3 $645,000 $215,000 $3,245 4.21%
    Ashland, OH (FHA|USDA|VA) 4 $640,000 $160,000 $2,557 5.28%
    Salem, OH (FHA|USDA|VA) 4 $540,000 $135,000 $2,408 5.18%
    Coshocton, OH (FHA|USDA|VA) 4 $430,000 $107,500 $2,330 6.12%
    Norwalk, OH (FHA|USDA|VA) 1 $395,000 $395,000 $8,756 6.50%
    Fremont, OH (FHA|USDA|VA) 1 $335,000 $335,000 $8,106 4.99%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $275,000 $275,000 $0 5.50%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,942 6.50%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $4,821 5.99%
    Cambridge, OH (FHA|USDA|VA) 1 $205,000 $205,000 $2,442 5.00%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $175,000 $175,000 $3,412 4.63%
    WHEELING, WV-OH (FHA|USDA|VA) 1 $75,000 $75,000 $2,172 5.12%
    The Commercial And Savings Bank Of Millersburg Ohio's top markets include Wooster, New Philadelphia, Canton, Akron, and Columbus among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • 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.

    The Middlefield Banking Company
    Similarity Rank: 312
    Ohio Catholic Federal Credit Union
    Similarity Rank: 340
    CANTON SCHOOL EMPLOYEES
    Similarity Rank: 504
    Union Savings Bank
    Similarity Rank: 835
    Seven Seventeen Credit Union
    Similarity Rank: 1032
    Westfield Bank, FSB
    Similarity Rank: 1431
    YOUR HOME FINANCIAL LLC
    Similarity Rank: 1610
    UNION CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 1818
    The Park National Bank
    Similarity Rank: 1853
    The Commercial and Savings Bank of Millersburg Ohio
    Similarity Rank: 1881

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 257 $53,185,000 $206,946 $3,478 4.97%

    For 2022, The Commercial And Savings Bank Of Millersburg Ohio's most frequently originated type of loan was Conventional, with 257 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 163 $36,235,000 $222,301 $4,144 5.17%
    Cash Out Refi 53 $9,585,000 $180,849 $2,369 4.53%
    Refi 16 $2,220,000 $138,750 $1,942 4.33%
    Home Improvement 13 $1,885,000 $145,000 $2,265 5.31%
    Other 12 $3,260,000 $271,667 $3,463 4.62%

    For 2022, The Commercial And Savings Bank Of Millersburg Ohio's most frequently cited loan purpose was Home Purchase, with 163 originations. The 2nd most popular reason was Cash Out Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 149 $29,865,000 $200,436 $3,231 5.05%
    30+ year 32 $11,880,000 $371,250 $6,779 4.92%
    15 Year 31 $4,495,000 $145,000 $1,918 4.02%
    20 Year 22 $3,460,000 $157,273 $3,783 5.47%
    10 Year 12 $1,210,000 $100,833 $1,330 4.64%
    Other 6 $1,120,000 $186,667 $2,805 4.67%
    1 Year 4 $1,140,000 $285,000 $2,489 6.31%
    5 Year 1 $15,000 $15,000 $0 12.00%

    For 2022, The Commercial And Savings Bank Of Millersburg Ohio's most frequently cited loan duration was 30 Year, with 149 originations. The 2nd most popular length was 30+ year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 88 $13,890,000 $157,841
    $1k-2k 72 $13,720,000 $190,556
    $2k-3k 34 $9,230,000 $271,471
    $3k-4k 15 $4,335,000 $289,000
    $4k-5k 8 $2,850,000 $356,250
    $5k+ 7 $3,985,000 $569,286

    The Commercial And Savings Bank Of Millersburg Ohio's average total fees were $3,231, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 88 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 79 $19,685,000 $249,177
    5-6% 68 $12,660,000 $186,176
    3-4% 57 $11,565,000 $202,895
    6-7% 40 $7,370,000 $184,250
    7-8% 6 $1,050,000 $175,000
    <2.5% 3 $385,000 $128,333
    2.5-3% 3 $455,000 $151,667
    Over 8% 1 $15,000 $15,000

    During 2022, The Commercial And Savings Bank Of Millersburg Ohio's average interest rate for loans was 5.05%, while their most frequently originated rate bucket for loans was 4-5%, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 89 $24,555,000 $275,899 $4,191 4.87%
    $100k-200k 84 $12,690,000 $151,071 $2,739 4.89%
    $100,000 or less 64 $4,450,000 $69,531 $1,941 5.18%
    $400k-600k 15 $7,075,000 $471,667 $6,674 5.21%
    $600k-1MM 4 $3,110,000 $777,500 $5,746 4.31%
    $1MM+ 1 $1,305,000 $1,305,000 $18,280 4.99%

    2022 saw The Commercial And Savings Bank Of Millersburg Ohio place emphasis on $200k-400k loans with 89 originations, totaling $24,555,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 57 $9,555,000 $167,632 $2,980 4.88%
    $75k-100k 56 $10,730,000 $191,607 $3,349 4.79%
    $100k-150k 41 $10,925,000 $266,463 $4,349 5.08%
    $50k or less 33 $3,335,000 $101,061 $2,458 5.07%
    $150k-250k 28 $7,990,000 $285,357 $4,184 4.92%
    $250k+ 18 $6,410,000 $356,111 $4,828 5.08%

    The Commercial And Savings Bank Of Millersburg Ohio lent most frequently to those with incomes in the $50k-75k range, with 57 originations. The second most popular income band? $75k-100k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 63 $12,955,000 $205,635 $3,665 4.97%
    20-30% 61 $10,745,000 $176,148 $3,201 4.78%
    <20% 40 $8,300,000 $207,500 $3,034 4.80%
    37% 13 $2,635,000 $202,692 $3,298 4.91%
    39% 12 $3,460,000 $288,333 $4,798 5.40%
    40% 11 $1,955,000 $177,727 $3,106 4.95%
    38% 8 $1,720,000 $215,000 $3,395 4.37%
    41% 8 $2,680,000 $335,000 $4,045 5.44%
    42% 7 $2,095,000 $299,286 $4,669 5.19%
    43% 5 $915,000 $183,000 $3,718 5.00%
    36% 5 $1,045,000 $209,000 $2,501 5.37%
    44% 4 $650,000 $162,500 $2,629 5.31%
    47% 2 $530,000 $265,000 $5,659 5.25%
    49% 1 $355,000 $355,000 $4,966 3.75%
    >60% 1 $65,000 $65,000 $0 5.25%

    The Commercial And Savings Bank Of Millersburg Ohio lent most frequently to those with DTI ratios of 30-36%, with 63 originations. The next most common DTI ratio? 20-30%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 236 $48,850,000 $206,992 $3,472 4.95%
    Not applicable 16 $3,080,000 $192,500 $0 5.56%
    Not provided 4 $1,200,000 $300,000 $3,804 3.88%
    Black 1 $55,000 $55,000 $0 3.63%

    Approval Rates

    Total approvals of all applications
    95.72%

    The Commercial And Savings Bank Of Millersburg Ohio 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
    87.55%

    The Commercial And Savings Bank Of Millersburg Ohio has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    238.0 1 $15,000 $15,000
    NA 256 $53,170,000 $207,695

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    257 $53,185,000 $206,946

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $3,010,000 $125,417 $1,882 4.51%
    40-60% 39 $8,255,000 $211,667 $2,921 4.56%
    60-80% 111 $23,775,000 $214,189 $3,815 5.06%
    80-100% 73 $17,275,000 $236,644 $4,123 5.10%
    Under 20% 10 $870,000 $87,000 $1,505 5.65%