Farmers And Merchants Trust Company Of Chambersburg Mortgage Rates, Fees & Info
Chambersburg, PALEI: 5493008E3WZYM5146L29
Tax ID: 23-0570230
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Mortgage Data
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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/17/25 |
| 30 Year Conventional Purchase | 6.92% | 4/17/25 |
| 30 Year Conventional Refi | 6.97% | 4/17/25 |
| 30 Year Cash-out Refi | 7.28% | 4/17/25 |
| 30 Year FHA Purchase | 7.01% | 4/17/25 |
| 30 Year FHA Refi | 6.93% | 4/17/25 |
| 30 Year VA Purchase | 5.82% | 4/17/25 |
| 30 Year USDA Purchase | 6.30% | 4/17/25 |
| 15 Year Conventional Purchase | 6.36% | 4/17/25 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
660Origination Dollar Volume (All Markets)
$141,800,000Awards
Farmers and Merchants Trust Company of Chambersburg - 2023
Farmers and Merchants Trust Company of Chambersburg is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
Their top states include:
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.
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Product Mix
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications83.84%
Farmers And Merchants Trust Company Of Chambersburg has a below average approval rate.
Pick Rate
Approvals leading to origination86.06%
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 |