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

Chambersburg, PA

LEI: 5493008E3WZYM5146L29

Tax ID: 23-0570230

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

    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, 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.

    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% 12/16/24
    30 Year Conventional Purchase 6.41% 12/16/24
    30 Year Conventional Refi 6.39% 12/16/24
    30 Year Cash-out Refi 6.39% 12/16/24
    30 Year FHA Purchase 7.18% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    30 Year USDA Purchase 6.20% 12/16/24
    15 Year Conventional Purchase 6.15% 12/16/24
    15 Year Conventional Refi 5.98% 12/16/24
    15 Year Cash-out Refi 5.98% 12/16/24
    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

    700

    Origination Dollar Volume (All Markets)

    $130,990,000
    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
    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%
    Farmers And Merchants Trust Company Of Chambersburg's top markets include Chambersburg, Harrisburg, York, Huntingdon, and Gettysburg among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (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.

    City National Bank of West Virginia
    Similarity Rank: 185
    PATRIOT
    Similarity Rank: 448
    PEOPLESBANK, A CODORUS VALLEY COMPANY
    Similarity Rank: 518
    MILLENNIUM FINANCIAL GROUP, INC.
    Similarity Rank: 560
    CNB Bank Inc.
    Similarity Rank: 629
    Foote Capital Mortgage Company
    Similarity Rank: 686
    ACNB Bank
    Similarity Rank: 756
    CORNING
    Similarity Rank: 1140
    Farmers and Merchants Trust Company of Chambersburg
    Similarity Rank: 1360
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 1634

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 401 $96,465,000 $240,561 $3,916 4.41%
    HELOC 283 $31,065,000 $109,770 n/a 2.21%
    FHA 11 $1,925,000 $175,000 $6,992 4.56%
    USDA 3 $575,000 $191,667 $5,779 3.38%
    VA 2 $960,000 $480,000 $12,802 4.25%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 301 $81,655,000 $271,279 $4,784 4.37%
    Refi 166 $24,710,000 $148,855 $2,061 3.03%
    Home Improvement 126 $12,120,000 $96,190 $1,112 2.71%
    Other 83 $7,525,000 $90,663 $2,270 2.57%
    Cash Out Refi 24 $4,980,000 $207,500 $3,815 3.87%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 288 $32,300,000 $112,153 $3,497 2.20%
    30 Year 194 $46,040,000 $237,320 $4,759 4.59%
    10 Year 78 $15,970,000 $204,744 $561 4.85%
    30+ year 55 $22,635,000 $411,545 $5,863 3.68%
    15 Year 49 $6,605,000 $134,796 $2,245 4.25%
    1 Year 17 $4,355,000 $256,176 $1,044 3.78%
    Other 11 $2,215,000 $201,364 $347 5.15%
    5 Year 6 $840,000 $140,000 $180 3.54%
    3 Year 2 $30,000 $15,000 $208 4.85%

    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
    $<1k 276 $63,910,000 $231,558
    $1k-2k 45 $10,195,000 $226,556
    $2k-3k 16 $4,650,000 $290,625
    $3k-4k 5 $1,355,000 $271,000
    $5k+ 3 $1,465,000 $488,333
    $4k-5k 2 $890,000 $445,000

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 220 $24,100,000 $109,545
    4-5% 159 $37,065,000 $233,113
    3-4% 156 $31,880,000 $204,359
    5-6% 97 $19,085,000 $196,753
    2.5-3% 49 $16,025,000 $327,041
    6-7% 17 $2,685,000 $157,941
    7-8% 1 $125,000 $125,000
    Over 8% 1 $25,000 $25,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 228 $33,890,000 $148,640 $3,538 3.76%
    $100,000 or less 226 $12,110,000 $53,584 $1,444 2.89%
    $200k-400k 190 $52,020,000 $273,789 $4,814 3.87%
    $400k-600k 40 $19,450,000 $486,250 $6,399 3.82%
    $600k-1MM 13 $9,055,000 $696,538 $7,949 4.26%
    $1MM+ 3 $4,465,000 $1,488,333 $11,824 3.73%

    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.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 156 $33,530,000 $214,936 $4,309 3.50%
    $50k-75k 141 $19,295,000 $136,844 $3,801 3.34%
    $50k or less 128 $12,030,000 $93,984 $2,761 3.23%
    $75k-100k 107 $19,795,000 $185,000 $4,458 3.53%
    $150k-250k 72 $21,310,000 $295,972 $4,873 3.62%
    $250k+ 30 $9,140,000 $304,667 $5,156 3.15%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 167 $27,635,000 $165,479 $3,882 3.32%
    30-36% 128 $22,380,000 $174,844 $4,041 3.48%
    <20% 103 $13,275,000 $128,883 $2,481 2.32%
    42% 37 $5,305,000 $143,378 $3,514 3.48%
    41% 28 $5,670,000 $202,500 $3,810 3.72%
    40% 26 $4,580,000 $176,154 $3,837 3.37%
    38% 21 $4,715,000 $224,524 $4,865 4.00%
    36% 20 $2,590,000 $129,500 $3,136 3.36%
    37% 19 $4,885,000 $257,105 $5,025 3.00%
    44% 13 $4,295,000 $330,385 $5,657 4.54%
    39% 13 $2,645,000 $203,462 $3,418 4.21%
    43% 13 $3,585,000 $275,769 $4,607 4.30%
    45% 8 $2,520,000 $315,000 $4,927 3.97%
    46% 6 $2,110,000 $351,667 $4,777 4.47%
    47% 6 $1,590,000 $265,000 $4,385 4.96%
    49% 6 $1,620,000 $270,000 $5,068 4.02%
    50-60% 5 $2,595,000 $519,000 $8,139 2.94%
    48% 4 $710,000 $177,500 $3,324 3.89%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 606 $109,050,000 $179,950 $4,004 3.33%
    Not applicable 57 $14,415,000 $252,895 $0 4.95%
    Asian 16 $4,600,000 $287,500 $5,510 4.99%
    Not provided 10 $1,530,000 $153,000 $3,960 3.69%
    Black 9 $1,245,000 $138,333 $5,453 3.96%
    American Indian 1 $125,000 $125,000 $0 7.25%
    Native Hawaiian or Islander 1 $25,000 $25,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    84.79%

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

    Pick Rate

    Approvals leading to origination
    86.14%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 700 $130,990,000 $187,129

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    700 $130,990,000 $187,129

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 126 $11,740,000 $93,175 $1,658 2.72%
    40-60% 91 $15,885,000 $174,560 $3,065 3.36%
    60-80% 193 $47,645,000 $246,865 $4,348 3.89%
    80-100% 184 $49,720,000 $270,217 $5,076 4.27%
    Under 20% 105 $5,845,000 $55,667 $434 2.66%