The Middlefield Banking Company Mortgage Rates, Fees & Info

Middlefield, OH

LEI: 5493007SZD2OVPMXT217

Tax ID: 34-0399850

5 stars - Updated: 5/27/24 - out of 5 stars, based on 26 reviews

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

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Mortgage Data

Review & Overview

The Middlefield Banking Company is a smaller bank specializing in Home Purchase loans. The Middlefield Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Youngstown, Cleveland, Akron, Ashtabula, and Columbus among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Middlefield Banking Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Middlefield Banking 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.

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
Home Equity Line of Credit (HELOC) 6.27% 5/27/24
30 Year Conventional Purchase 6.46% 5/27/24
30 Year Conventional Refi 6.43% 5/27/24
30 Year Cash-out Refi 6.48% 5/27/24
15 Year Conventional Purchase 6.57% 5/27/24
15 Year Conventional Refi 5.82% 5/27/24
15 Year Cash-out Refi 5.82% 5/27/24
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 Middlefield Banking Company Mortgage Calculator






Your Estimates

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

This is not an official calculator from The Middlefield Banking 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

687

Origination Dollar Volume (All Markets)

$160,355,000
Show all (9) awards

Relative Rate

The Middlefield Banking Company's average 30 year fixed mortgage rate was 6.31%.

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

This yields a difference of -0.17%.

Relative Fees (Closing Costs)

The Middlefield Banking Company's average total fees/closing costs for a 30 year fixed rate mortgage were $4,026.

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
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 133 $50,395,000 $378,910 $3,626 7.18%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 237 $47,545,000 $200,612 $3,602 7.27%
AKRON, OH (FHA|USDA|VA) 59 $22,755,000 $385,678 $3,817 7.22%
Ashtabula, OH (FHA|USDA|VA) 94 $12,470,000 $132,660 $3,658 7.24%
COLUMBUS, OH (FHA|USDA|VA) 67 $9,265,000 $138,284 $1,964 7.53%
TOLEDO, OH (FHA|USDA|VA) 1 $4,385,000 $4,385,000 $0 6.46%
Outside of Metro Areas 31 $3,505,000 $113,065 $3,125 7.05%
Bellefontaine, OH (FHA|USDA|VA) 16 $3,250,000 $203,125 $4,596 6.99%
LIMA, OH (FHA|USDA|VA) 28 $3,060,000 $109,286 $3,193 7.15%
Mount Vernon, OH (FHA|USDA|VA) 2 $560,000 $280,000 $0 8.00%
MANSFIELD, OH (FHA|USDA|VA) 2 $500,000 $250,000 $1,911 5.94%
Findlay, OH (FHA|USDA|VA) 2 $420,000 $210,000 $4,844 5.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $355,000 $355,000 $3,911 6.88%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $315,000 $315,000 $4,184 5.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,200 6.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $245,000 $245,000 $3,656 7.00%
Sidney, OH (FHA|USDA|VA) 1 $225,000 $225,000 $5,161 6.63%
Marion, OH (FHA|USDA|VA) 1 $205,000 $205,000 $0 9.75%
Bucyrus-Galion, OH (FHA|USDA|VA) 2 $190,000 $95,000 $3,621 7.38%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $150,000 $75,000 $0 6.60%
Ashland, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,940 7.13%
Van Wert, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $55,000 $55,000 $3,169 7.13%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.00%
Salem, OH (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.75%
The Middlefield Banking Company's top markets include Youngstown, Cleveland, Akron, Ashtabula, and Columbus among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against The Middlefield Banking Company 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
    HELOC 385 $37,525,000 $97,468 n/a 7.85%
    Conventional 302 $122,830,000 $406,722 $3,492 6.46%

    For 2023, The Middlefield Banking Company's most frequently originated type of loan was HELOC, with 385 originations. Their 2nd most popular type was Conventional, with 302 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 211 $95,905,000 $454,526 $4,261 6.41%
    Refi 209 $31,335,000 $149,928 $2,820 7.52%
    Home Improvement 158 $24,120,000 $152,658 $677 7.72%
    Other 107 $8,685,000 $81,168 $1,928 7.66%
    Cash Out Refi 2 $310,000 $155,000 $4,024 5.88%

    For 2023, The Middlefield Banking Company's most frequently cited loan purpose was Home Purchase, with 211 originations. The 2nd most popular reason was Refi, with 209 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 413 $41,185,000 $99,722 $1,050 7.80%
    30 Year 191 $38,685,000 $202,539 $4,026 6.31%
    15 Year 32 $3,770,000 $117,813 $2,040 6.84%
    30+ year 22 $8,560,000 $389,091 $5,951 5.72%
    10 Year 17 $39,205,000 $2,306,176 $774 7.01%
    5 Year 6 $380,000 $63,333 $350 6.23%
    Other 6 $28,570,000 $4,761,667 $0 7.99%

    For 2023, The Middlefield Banking Company's most frequently cited loan duration was 20 Year, with 413 originations. The 2nd most popular length was 30 Year, with 191 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 188 $39,280,000 $208,936
    $<1k 53 $3,635,000 $68,585
    $2k-3k 22 $7,540,000 $342,727
    $3k-4k 2 $460,000 $230,000
    $4k-5k 1 $725,000 $725,000

    The Middlefield Banking Company's average total fees were $4,026, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 188 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 362 $67,520,000 $186,519
    6-7% 147 $61,965,000 $421,531
    Over 8% 87 $8,505,000 $97,759
    5-6% 80 $18,930,000 $236,625
    4-5% 11 $3,435,000 $312,273

    During 2023, The Middlefield Banking Company's average interest rate for loans was 6.31%, while their most frequently originated rate bucket for loans was 7-8%, with 362 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 318 $16,190,000 $50,912 $1,299 7.66%
    $100k-200k 199 $29,175,000 $146,608 $3,631 7.06%
    $200k-400k 143 $36,415,000 $254,650 $4,415 6.73%
    $400k-600k 14 $6,680,000 $477,143 $5,066 6.15%
    $600k-1MM 7 $4,465,000 $637,857 $6,550 6.01%
    $1MM+ 6 $67,430,000 $11,238,333 $0 7.00%

    2023 saw The Middlefield Banking Company place emphasis on $100,000 or less loans with 318 originations, totaling $16,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 196 $18,330,000 $93,520 $3,106 7.50%
    $100k-150k 129 $20,635,000 $159,961 $3,834 7.13%
    $75k-100k 117 $16,315,000 $139,444 $3,939 7.14%
    $50k or less 102 $7,290,000 $71,471 $2,243 7.34%
    $150k-250k 92 $19,670,000 $213,804 $3,979 6.92%
    $250k+ 30 $8,750,000 $291,667 $4,275 6.96%

    The Middlefield Banking Company lent most frequently to those with incomes in the $50k-75k range, with 196 originations. The second most popular income band? $100k-150k, with 129 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 178 $20,490,000 $115,112 $2,976 7.33%
    30-36% 158 $21,090,000 $133,481 $3,370 7.23%
    <20% 85 $12,075,000 $142,059 $3,674 7.26%
    40% 60 $9,040,000 $150,667 $4,384 7.41%
    39% 44 $7,750,000 $176,136 $3,925 7.07%
    38% 43 $5,265,000 $122,442 $3,716 7.14%
    36% 34 $4,310,000 $126,765 $3,067 7.40%
    37% 30 $4,490,000 $149,667 $3,592 7.31%
    41% 15 $2,555,000 $170,333 $3,832 6.93%
    42% 10 $1,460,000 $146,000 $3,849 6.50%
    44% 5 $1,135,000 $227,000 $3,947 5.90%
    43% 4 $610,000 $152,500 $4,137 6.78%
    45% 2 $330,000 $165,000 $3,367 6.94%
    49% 2 $460,000 $230,000 $4,902 6.38%

    The Middlefield Banking Company lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? 30-36%, with 158 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 648 $88,610,000 $136,744 $3,499 7.23%
    Not applicable 15 $68,935,000 $4,595,667 $0 7.14%
    Not provided 11 $1,355,000 $123,182 $3,464 7.34%
    Black 7 $455,000 $65,000 $2,677 7.52%
    Asian 3 $445,000 $148,333 $3,226 7.46%
    Asian Indian 2 $330,000 $165,000 $0 7.88%
    Chinese 1 $225,000 $225,000 $3,590 8.00%

    Approval Rates

    Total approvals of all applications
    80.50%

    The Middlefield Banking Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.84%

    The Middlefield Banking Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 687 $160,355,000 $233,413

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    687 $160,355,000 $233,413

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 195 $20,815,000 $106,744 $2,762 7.58%
    40-60% 115 $22,915,000 $199,261 $4,040 6.93%
    60-80% 124 $59,490,000 $479,758 $4,245 6.61%
    80-100% 83 $50,645,000 $610,181 $4,012 6.77%
    Under 20% 170 $6,490,000 $38,176 $539 7.74%