Farmers And Merchants Trust Company Of Chambersburg Mortgage Rates, Fees & InfoChambersburg, PA
Tax ID: 23-0570230
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewFarmers And Merchants Trust Company Of Chambersburg is a smaller mortgage company specializing in Home Purchase loans. Farmers And Merchants Trust Company Of Chambersburg has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Chambersburg, Harrisburg, York, Huntingdon, and Gettysburg among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)
Farmers And Merchants Trust Company Of Chambersburg 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. Farmers And Merchants Trust Company Of Chambersburg is typically an average 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||4/2/23|
|30 Year Conventional Purchase||6.41%||4/2/23|
|30 Year Conventional Refi||6.39%||4/2/23|
|30 Year Cash-out Refi||6.39%||4/2/23|
|30 Year FHA Purchase||7.18%||4/2/23|
|30 Year VA Purchase||6.27%||4/2/23|
|30 Year USDA Purchase||6.20%||4/2/23|
|15 Year Conventional Purchase||6.15%||4/2/23|
|15 Year Conventional Refi||5.98%||4/2/23|
|15 Year Cash-out Refi||5.98%||4/2/23|
|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.|
Farmers And Merchants Trust Company Of Chambersburg Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Farmers And Merchants Trust Company Of Chambersburg. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$130,990,000
Farmers And Merchants Trust Company Of Chambersburg's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.17%.
Relative Fees (Closing Costs)
Farmers And Merchants Trust Company Of Chambersburg's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,759.
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 $4,750.
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|
|CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA)||376||$64,800,000||$172,340||$3,902||3.26%|
|HARRISBURG-CARLISLE, PA (FHA|USDA|VA)||185||$41,135,000||$222,351||$4,328||3.86%|
|YORK-HANOVER, PA (FHA|USDA|VA)||28||$7,260,000||$259,286||$5,528||4.18%|
|Outside of Metro Areas||35||$5,215,000||$149,000||$3,543||3.11%|
|Huntingdon, PA (FHA|USDA|VA)||35||$2,955,000||$84,429||$2,107||3.28%|
|GETTYSBURG, PA (FHA|USDA|VA)||11||$2,685,000||$244,091||$5,529||3.58%|
|READING, PA (FHA|USDA|VA)||5||$1,145,000||$229,000||$3,564||4.90%|
|Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)||2||$1,070,000||$535,000||$4,579||4.60%|
|Lewistown, PA (FHA|USDA|VA)||5||$905,000||$181,000||$1,803||5.14%|
|LANCASTER, PA (FHA|USDA|VA)||5||$795,000||$159,000||$3,871||4.24%|
|STATE COLLEGE, PA (FHA|USDA|VA)||1||$775,000||$775,000||$7,578||2.95%|
|SALISBURY, MD-DE (FHA|USDA|VA)||2||$620,000||$310,000||$4,984||5.44%|
|HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA)||3||$455,000||$151,667||$2,738||5.48%|
|LEBANON, PA (FHA|USDA|VA)||2||$380,000||$190,000||$4,557||5.19%|
|Pottsville, PA (FHA|USDA|VA)||3||$375,000||$125,000||$4,163||5.40%|
|WILLIAMSPORT, PA (FHA|USDA|VA)||1||$225,000||$225,000||$5,444||5.13%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$195,000||$195,000||$4,126||4.25%|
We use machine learning to identify the top lenders compared against Farmers and Merchants Trust Company of Chambersburg based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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For 2022, Farmers And Merchants Trust Company Of Chambersburg's most frequently originated type of loan was Conventional, with 401 originations. Their 2nd most popular type was HELOC, with 283 originations.
For 2022, Farmers And Merchants Trust Company Of Chambersburg's most frequently cited loan purpose was Home Purchase, with 301 originations. The 2nd most popular reason was Refi, with 166 originations.
For 2022, Farmers And Merchants Trust Company Of Chambersburg's most frequently cited loan duration was 20 Year, with 288 originations. The 2nd most popular length was 30 Year, with 194 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Farmers And Merchants Trust Company Of Chambersburg's average total fees were $4,759, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 276 originations.
During 2022, Farmers And Merchants Trust Company Of Chambersburg's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was <2.5%, with 220 originations.
2022 saw Farmers And Merchants Trust Company Of Chambersburg place emphasis on $100k-200k loans with 228 originations, totaling $33,890,000 in origination value.
Farmers And Merchants Trust Company Of Chambersburg lent most frequently to those with incomes in the $100k-150k range, with 156 originations. The second most popular income band? $50k-75k, with 141 originations.
Applicant Debt to Income Ratio
Farmers And Merchants Trust Company Of Chambersburg lent most frequently to those with DTI ratios of 20-30%, with 167 originations. The next most common DTI ratio? 30-36%, with 128 originations.
Approval RatesTotal approvals of all applications
Farmers And Merchants Trust Company Of Chambersburg has a below average approval rate.
Pick RateApprovals leading to origination
Farmers And Merchants Trust Company Of Chambersburg has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|