Farmers And Merchants Trust Company Of Chambersburg Mortgage Rates, Fees & Info

Chambersburg, PA

LEI: 5493008E3WZYM5146L29

Tax ID: 23-0570230

5 stars - Updated: 11/17/24 - out of 5 stars, based on 26 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Farmers 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, Hagerstown, Lancaster, and York among others. We have data for 24 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 6.41% 11/17/24
    30 Year Conventional Refi 6.39% 11/17/24
    30 Year Cash-out Refi 6.39% 11/17/24
    30 Year FHA Purchase 7.18% 11/17/24
    30 Year VA Purchase 6.27% 11/17/24
    30 Year USDA Purchase 6.20% 11/17/24
    15 Year Conventional Purchase 6.15% 11/17/24
    15 Year Conventional Refi 5.98% 11/17/24
    15 Year Cash-out Refi 5.98% 11/17/24
    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.

    Farmers And Merchants Trust Company Of Chambersburg Mortgage Calculator






    Your Estimates

    Estimated 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™ 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

    660

    Origination Dollar Volume (All Markets)

    $141,800,000
    Show all (8) awards

    Relative Rate

    Farmers And Merchants Trust Company Of Chambersburg's average 30 year fixed mortgage rate was 6.17%.

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

    This yields a difference of -0.31%.

    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 $4,861.

    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
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 324 $55,730,000 $172,006 $4,556 5.76%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 149 $32,215,000 $216,208 $5,484 6.14%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 44 $12,660,000 $287,727 $3,981 6.45%
    Outside of Metro Areas 36 $7,800,000 $216,667 $5,711 5.76%
    LANCASTER, PA (FHA|USDA|VA) 3 $6,975,000 $2,325,000 $0 6.88%
    YORK-HANOVER, PA (FHA|USDA|VA) 27 $6,635,000 $245,741 $3,799 6.45%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 15 $6,255,000 $417,000 $4,366 6.21%
    Huntingdon, PA (FHA|USDA|VA) 33 $4,155,000 $125,909 $3,391 6.09%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 4 $1,870,000 $467,500 $4,717 5.88%
    LEBANON, PA (FHA|USDA|VA) 3 $1,585,000 $528,333 $6,071 7.28%
    ROANOKE, VA (FHA|USDA|VA) 2 $1,130,000 $565,000 $8,005 6.13%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $805,000 $805,000 $0 6.20%
    WINCHESTER, VA-WV (FHA|USDA|VA) 2 $570,000 $285,000 $4,566 6.19%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $480,000 $240,000 $2,912 7.18%
    READING, PA (FHA|USDA|VA) 2 $420,000 $210,000 $0 7.38%
    Pottsville, PA (FHA|USDA|VA) 2 $390,000 $195,000 $4,664 6.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,939 5.38%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $335,000 $335,000 $5,640 5.88%
    GETTYSBURG, PA (FHA|USDA|VA) 3 $325,000 $108,333 $1,711 6.35%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,306 7.63%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $315,000 $315,000 $4,809 6.38%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $255,000 $255,000 $0 8.50%
    PITTSBURGH, PA (FHA|USDA|VA) 2 $110,000 $55,000 $0 8.23%
    Lewistown, PA (FHA|USDA|VA) 1 $85,000 $85,000 $3,945 8.00%
    Farmers And Merchants Trust Company Of Chambersburg's top markets include Chambersburg, Harrisburg, Hagerstown, Lancaster, and York among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

    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.

    ACNB Bank
    Similarity Rank: 112
    PATRIOT
    Similarity Rank: 195
    City National Bank of West Virginia
    Similarity Rank: 220
    PEOPLESBANK, A CODORUS VALLEY COMPANY
    Similarity Rank: 225
    CNB Bank Inc.
    Similarity Rank: 279
    Farmers and Merchants Trust Company of Chambersburg
    Similarity Rank: 456
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 456
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED
    Similarity Rank: 500
    MILLENNIUM FINANCIAL GROUP, INC.
    Similarity Rank: 560
    Foote Capital Mortgage Company
    Similarity Rank: 564

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 382 $108,700,000 $284,555 $4,512 6.40%
    HELOC 254 $27,550,000 $108,465 n/a 5.34%
    FHA 13 $2,305,000 $177,308 $7,156 6.68%
    VA 8 $2,540,000 $317,500 $6,803 6.48%
    USDA 3 $705,000 $235,000 $6,943 5.92%

    For 2023, Farmers And Merchants Trust Company Of Chambersburg's most frequently originated type of loan was Conventional, with 382 originations. Their 2nd most popular type was HELOC, with 254 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 327 $96,205,000 $294,205 $5,062 6.38%
    Refi 161 $27,215,000 $169,037 $3,161 5.67%
    Home Improvement 93 $9,945,000 $106,935 $1,424 5.67%
    Other 70 $6,420,000 $91,714 $1,209 5.41%
    Cash Out Refi 9 $2,015,000 $223,889 $4,186 5.90%

    For 2023, Farmers And Merchants Trust Company Of Chambersburg's most frequently cited loan purpose was Home Purchase, with 327 originations. The 2nd most popular reason was Refi, with 161 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 266 $29,400,000 $110,526 $3,814 5.37%
    30 Year 216 $57,940,000 $268,241 $4,861 6.17%
    10 Year 65 $15,905,000 $244,692 $907 7.24%
    30+ year 62 $25,410,000 $409,839 $6,390 6.06%
    1 Year 15 $3,435,000 $229,000 $1,193 7.16%
    Other 15 $3,745,000 $249,667 $1,913 7.12%
    15 Year 13 $1,555,000 $119,615 $2,364 6.45%
    5 Year 6 $580,000 $96,667 $240 5.25%
    3 Year 2 $3,830,000 $1,915,000 $0 10.25%

    For 2023, Farmers And Merchants Trust Company Of Chambersburg's most frequently cited loan duration was 20 Year, with 266 originations. The 2nd most popular length was 30 Year, with 216 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 248 $60,900,000 $245,565
    $1k-2k 76 $28,200,000 $371,053
    $2k-3k 6 $1,670,000 $278,333
    $5k+ 3 $1,155,000 $385,000
    $3k-4k 2 $300,000 $150,000

    Farmers And Merchants Trust Company Of Chambersburg's average total fees were $4,861, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 248 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 342 $70,390,000 $205,819
    6-7% 171 $41,595,000 $243,246
    4-5% 67 $7,405,000 $110,522
    7-8% 67 $16,625,000 $248,134
    Over 8% 13 $5,785,000 $445,000

    During 2023, Farmers And Merchants Trust Company Of Chambersburg's average interest rate for loans was 6.17%, while their most frequently originated rate bucket for loans was 5-6%, with 342 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 205 $55,815,000 $272,268 $4,815 6.15%
    $100,000 or less 195 $10,845,000 $55,615 $1,666 5.70%
    $100k-200k 191 $27,755,000 $145,314 $4,185 6.07%
    $400k-600k 43 $20,615,000 $479,419 $6,286 6.12%
    $600k-1MM 19 $13,985,000 $736,053 $8,058 6.02%
    $1MM+ 7 $12,785,000 $1,826,429 $11,617 6.66%

    2023 saw Farmers And Merchants Trust Company Of Chambersburg place emphasis on $200k-400k loans with 205 originations, totaling $55,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 156 $37,510,000 $240,449 $5,075 5.96%
    $50k-75k 137 $18,105,000 $132,153 $3,834 5.77%
    $75k-100k 106 $18,280,000 $172,453 $4,180 5.88%
    $50k or less 81 $7,995,000 $98,704 $3,852 5.80%
    $150k-250k 80 $24,850,000 $310,625 $5,648 5.92%
    $250k+ 27 $11,705,000 $433,519 $5,869 6.00%

    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 137 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 129 $23,015,000 $178,411 $4,356 5.74%
    30-36% 104 $20,220,000 $194,423 $4,241 5.81%
    <20% 61 $8,815,000 $144,508 $4,430 5.53%
    41% 39 $6,845,000 $175,513 $4,745 5.71%
    42% 37 $6,895,000 $186,351 $4,528 5.81%
    39% 37 $7,585,000 $205,000 $4,270 5.72%
    40% 35 $7,465,000 $213,286 $4,660 6.01%
    37% 25 $4,725,000 $189,000 $4,291 5.87%
    38% 22 $3,910,000 $177,727 $3,875 5.57%
    44% 14 $4,490,000 $320,714 $5,314 6.14%
    36% 13 $2,535,000 $195,000 $4,550 5.95%
    45% 12 $4,640,000 $386,667 $7,101 6.00%
    49% 11 $3,415,000 $310,455 $5,681 6.22%
    47% 10 $2,550,000 $255,000 $6,298 6.24%
    48% 10 $2,670,000 $267,000 $5,388 6.11%
    50-60% 9 $4,325,000 $480,556 $6,372 5.86%
    43% 9 $2,125,000 $236,111 $4,181 6.18%
    46% 6 $1,860,000 $310,000 $4,891 6.10%

    Farmers And Merchants Trust Company Of Chambersburg lent most frequently to those with DTI ratios of 20-30%, with 129 originations. The next most common DTI ratio? 30-36%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 573 $113,325,000 $197,775 $4,669 5.85%
    Not applicable 58 $20,320,000 $350,345 $0 7.31%
    Asian 9 $3,115,000 $346,111 $6,125 6.11%
    Not provided 8 $2,810,000 $351,250 $4,355 6.43%
    Black 5 $825,000 $165,000 $3,993 6.90%
    Asian Indian 1 $555,000 $555,000 $5,939 6.75%
    American Indian 2 $440,000 $220,000 $3,946 5.50%
    Native Hawaiian or Islander 4 $410,000 $102,500 $3,384 5.31%

    Approval Rates

    Total approvals of all applications
    83.84%

    Farmers And Merchants Trust Company Of Chambersburg has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.06%

    Farmers And Merchants Trust Company Of Chambersburg has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 660 $141,800,000 $214,848

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    660 $141,800,000 $214,848

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 124 $12,240,000 $98,710 $2,921 5.54%
    40-60% 77 $14,505,000 $188,377 $4,416 6.07%
    60-80% 172 $54,370,000 $316,105 $4,716 6.23%
    80-100% 197 $56,755,000 $288,096 $5,198 6.27%
    Over 100% 1 $355,000 $355,000 $17,106 7.25%
    Under 20% 88 $3,560,000 $40,455 $268 5.44%