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: Youngstown, Pittsburgh, Meadville, Erie, and Oil City among others. We have data for 7 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

    230

    Origination Dollar Volume (All Markets)

    $37,890,000

    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
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 118 $16,680,000 $141,356 $0 0.00%
    PITTSBURGH, PA (FHA|USDA|VA) 9 $7,255,000 $806,111 $0 0.00%
    Meadville, PA (FHA|USDA|VA) 47 $6,115,000 $130,106 $0 0.00%
    ERIE, PA (FHA|USDA|VA) 34 $5,700,000 $167,647 $0 0.00%
    Oil City, PA (FHA|USDA|VA) 18 $1,640,000 $91,111 $0 0.00%
    New Castle, PA (FHA|USDA|VA) 3 $425,000 $141,667 $0 0.00%
    Outside of Metro Areas 1 $75,000 $75,000 $0 0.00%
    Mercer County State Bank's top markets include Youngstown, Pittsburgh, Meadville, Erie, 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 230 $37,890,000 $164,739 $0 0.00%

    For 2022, Mercer County State Bank's most frequently originated type of loan was Conventional, with 230 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 95 $20,995,000 $221,000 $0 0.00%
    Home Purchase 90 $14,480,000 $160,889 $0 0.00%
    Home Improvement 33 $1,745,000 $52,879 $0 0.00%
    Other 12 $670,000 $55,833 $0 0.00%

    For 2022, Mercer County State Bank's most frequently cited loan purpose was Refi, with 95 originations. The 2nd most popular reason was Home Purchase, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 230 $37,890,000 $164,739 $0 0.00%

    For 2022, Mercer County State Bank's most frequently cited loan duration was Other, with 230 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 119 $7,065,000 $59,370 $0 0.00%
    $100k-200k 72 $10,090,000 $140,139 $0 0.00%
    $200k-400k 27 $7,205,000 $266,852 $0 0.00%
    $400k-600k 6 $2,810,000 $468,333 $0 0.00%
    $1MM+ 5 $9,915,000 $1,983,000 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2022 saw Mercer County State Bank place emphasis on $100,000 or less loans with 119 originations, totaling $7,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 50 $5,210,000 $104,200 $0 0.00%
    $50k or less 45 $3,435,000 $76,333 $0 0.00%
    $75k-100k 26 $2,670,000 $102,692 $0 0.00%
    $100k-150k 23 $3,525,000 $153,261 $0 0.00%
    $150k-250k 17 $3,535,000 $207,941 $0 0.00%
    $250k+ 9 $2,875,000 $319,444 $0 0.00%

    Mercer County State Bank lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $50k or less, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 230 $37,890,000 $164,739 $0 0.00%

    Mercer County State Bank lent most frequently to those with DTI ratios of Exempt%, with 230 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 173 $21,665,000 $125,231 $0 0.00%
    Not applicable 55 $15,885,000 $288,818 $0 0.00%
    Not provided 2 $340,000 $170,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.37%

    Mercer County State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.09%

    Mercer County State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 230 $37,890,000 $164,739

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    230 $37,890,000 $164,739