Mercer County State Bank Mortgage Rates, Fees & Info

Sandy Lake, PA

LEI: 549300BR55JZCJBERC86

Tax ID: 25-0660450

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Mercer County State Bank is a smaller bank specializing in Refi and Home Purchase loans. Mercer County State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Meadville, Youngstown, Erie, Pittsburgh, and Oil City among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mercer County State Bank 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.

    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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    Originations

    210

    Origination Dollar Volume (All Markets)

    $29,100,000

    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
    Meadville, PA (FHA|USDA|VA) 43 $10,815,000 $251,512 $0 0.00%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 100 $7,760,000 $77,600 $0 0.00%
    ERIE, PA (FHA|USDA|VA) 33 $6,055,000 $183,485 $0 0.00%
    PITTSBURGH, PA (FHA|USDA|VA) 8 $1,740,000 $217,500 $0 0.00%
    Oil City, PA (FHA|USDA|VA) 20 $1,730,000 $86,500 $0 0.00%
    Outside of Metro Areas 1 $545,000 $545,000 $0 0.00%
    New Castle, PA (FHA|USDA|VA) 4 $430,000 $107,500 $0 0.00%
    Warren, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Mercer County State Bank's top markets include Meadville, Youngstown, Erie, Pittsburgh, and Oil City among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 210 $29,100,000 $138,571 $0 0.00%

    For 2023, Mercer County State Bank's most frequently originated type of loan was Conventional, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 76 $5,320,000 $70,000 $0 0.00%
    Refi 57 $7,375,000 $129,386 $0 0.00%
    Home Purchase 51 $14,785,000 $289,902 $0 0.00%
    Other 26 $1,620,000 $62,308 $0 0.00%

    For 2023, Mercer County State Bank's most frequently cited loan purpose was Home Improvement, with 76 originations. The 2nd most popular reason was Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 210 $29,100,000 $138,571 $0 0.00%

    For 2023, Mercer County State Bank's most frequently cited loan duration was Other, with 210 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 133 $6,755,000 $50,789 $0 0.00%
    $100k-200k 50 $6,790,000 $135,800 $0 0.00%
    $200k-400k 21 $5,015,000 $238,810 $0 0.00%
    $1MM+ 3 $8,835,000 $2,945,000 $0 0.00%
    $400k-600k 2 $1,070,000 $535,000 $0 0.00%
    $600k-1MM 1 $635,000 $635,000 $0 0.00%

    2023 saw Mercer County State Bank place emphasis on $100,000 or less loans with 133 originations, totaling $6,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 40 $2,680,000 $67,000 $0 0.00%
    $50k or less 40 $2,260,000 $56,500 $0 0.00%
    $75k-100k 36 $3,060,000 $85,000 $0 0.00%
    $100k-150k 34 $4,840,000 $142,353 $0 0.00%
    $150k-250k 22 $2,560,000 $116,364 $0 0.00%
    $250k+ 8 $1,410,000 $176,250 $0 0.00%

    Mercer County State Bank lent most frequently to those with incomes in the $50k-75k range, with 40 originations. The second most popular income band? $50k or less, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 210 $29,100,000 $138,571 $0 0.00%

    Mercer County State Bank lent most frequently to those with DTI ratios of Exempt%, with 210 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 178 $16,400,000 $92,135 $0 0.00%
    Not applicable 28 $12,120,000 $432,857 $0 0.00%
    Black 2 $300,000 $150,000 $0 0.00%
    Not provided 1 $205,000 $205,000 $0 0.00%
    American Indian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.20%

    Mercer County State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.14%

    Mercer County State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 210 $29,100,000 $138,571

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    210 $29,100,000 $138,571