Canton School Employees Mortgage Rates, Fees & Info

Canton, OH

LEI: 549300KZVNU4UKZSWD59

Tax ID: 34-0796290

5 stars - Updated: 3/17/24 - out of 5 stars, based on 21 reviews

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

Jump to:

Mortgage Data

Review & Overview

Canton School Employees is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Canton School Employees has an average proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Canton, Akron, Salem, Cleveland, and New Philadelphia among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Canton School Employees has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Canton School Employees 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 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/17/24
30 Year Conventional Purchase 6.85% 3/17/24
30 Year Conventional Refi 6.88% 3/17/24
30 Year Cash-out Refi 6.93% 3/17/24
30 Year FHA Purchase 7.47% 3/17/24
30 Year FHA Refi 7.90% 3/17/24
30 Year VA Purchase 6.53% 3/17/24
15 Year Conventional Purchase 7.42% 3/17/24
15 Year Conventional Refi 6.38% 3/17/24
15 Year Cash-out Refi 6.38% 3/17/24
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.

Canton School Employees Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Canton School Employees. 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

449

Origination Dollar Volume (All Markets)

$31,175,000

Relative Rate

Canton School Employees's average 30 year fixed mortgage rate was 5.23%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.47%.

Relative Fees (Closing Costs)

Canton School Employees's average total fees/closing costs for a 30 year fixed rate mortgage were $4,055.

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 $4,750.

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
CANTON-MASSILLON, OH (FHA|USDA|VA) 418 $28,200,000 $67,464 $3,783 6.30%
AKRON, OH (FHA|USDA|VA) 14 $1,340,000 $95,714 $3,509 6.11%
Salem, OH (FHA|USDA|VA) 4 $730,000 $182,500 $6,213 6.09%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 4 $400,000 $100,000 $3,249 4.50%
New Philadelphia-Dover, OH (FHA|USDA|VA) 3 $205,000 $68,333 $0 4.42%
COLUMBUS, OH (FHA|USDA|VA) 2 $100,000 $50,000 $0 6.88%
Marietta, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.75%
Wooster, OH (FHA|USDA|VA) 2 $60,000 $30,000 $0 5.00%
Outside of Metro Areas 1 $55,000 $55,000 $0 9.75%
Canton School Employees's top markets include Canton, Akron, Salem, Cleveland, and New Philadelphia among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 356 $19,810,000 $55,646 n/a 6.52%
    Conventional 63 $7,215,000 $114,524 $3,127 5.39%
    FHA 26 $3,590,000 $138,077 $5,451 5.05%
    VA 4 $560,000 $140,000 $2,933 5.63%

    For 2022, Canton School Employees's most frequently originated type of loan was HELOC, with 356 originations. Their 2nd most popular type was Conventional, with 63 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 149 $7,635,000 $51,242 $3,626 6.13%
    Other 102 $5,560,000 $54,510 $3,083 7.10%
    Refi 78 $5,110,000 $65,513 $3,076 6.13%
    Cash Out Refi 63 $5,175,000 $82,143 $3,551 6.32%
    Home Purchase 57 $7,695,000 $135,000 $4,073 5.24%

    For 2022, Canton School Employees's most frequently cited loan purpose was Home Improvement, with 149 originations. The 2nd most popular reason was Other, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 357 $20,705,000 $57,997 $2,932 6.42%
    30 Year 67 $9,075,000 $135,448 $4,055 5.23%
    10 Year 16 $740,000 $46,250 $3,431 8.13%
    20 Year 6 $480,000 $80,000 $2,772 5.29%
    5 Year 3 $175,000 $58,333 $0 3.42%

    For 2022, Canton School Employees's most frequently cited loan duration was 15 Year, with 357 originations. The 2nd most popular length was 30 Year, with 67 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 73 $9,665,000 $132,397
    $1k-2k 3 $335,000 $111,667
    $2k-3k 3 $295,000 $98,333
    $3k-4k 1 $105,000 $105,000
    $5k+ 1 $195,000 $195,000

    Canton School Employees's average total fees were $4,055, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 73 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 98 $6,900,000 $70,408
    3-4% 86 $7,080,000 $82,326
    Over 8% 75 $3,315,000 $44,200
    6-7% 73 $4,985,000 $68,288
    4-5% 59 $5,215,000 $88,390
    7-8% 54 $3,330,000 $61,667
    2.5-3% 3 $305,000 $101,667
    <2.5% 1 $45,000 $45,000

    During 2022, Canton School Employees's average interest rate for loans was 5.23%, while their most frequently originated rate bucket for loans was 5-6%, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 355 $16,475,000 $46,408 $3,251 6.53%
    $100k-200k 80 $10,860,000 $135,750 $3,964 5.34%
    $200k-400k 14 $3,840,000 $274,286 $4,959 4.77%

    2022 saw Canton School Employees place emphasis on $100,000 or less loans with 355 originations, totaling $16,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 121 $7,425,000 $61,364 $3,881 6.35%
    $50k or less 114 $6,660,000 $58,421 $3,775 6.15%
    $100k-150k 93 $7,275,000 $78,226 $3,467 6.22%
    $75k-100k 84 $6,390,000 $76,071 $4,054 6.39%
    $150k-250k 31 $3,045,000 $98,226 $3,355 6.22%
    $250k+ 4 $330,000 $82,500 $4,254 5.66%

    Canton School Employees lent most frequently to those with incomes in the $50k-75k range, with 121 originations. The second most popular income band? $50k or less, with 114 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 95 $6,455,000 $67,947 $3,474 6.02%
    30-36% 67 $5,395,000 $80,522 $3,790 6.03%
    <20% 50 $2,920,000 $58,400 $3,357 6.36%
    50-60% 48 $2,870,000 $59,792 $3,166 6.97%
    44% 22 $1,840,000 $83,636 $4,490 6.35%
    36% 18 $840,000 $46,667 $4,367 6.06%
    45% 16 $1,280,000 $80,000 $4,534 5.76%
    39% 15 $925,000 $61,667 $2,976 5.51%
    46% 14 $780,000 $55,714 $4,870 6.14%
    >60% 13 $855,000 $65,769 $2,902 6.80%
    43% 12 $1,140,000 $95,000 $4,081 5.98%
    42% 12 $1,110,000 $92,500 $3,776 6.53%
    41% 12 $720,000 $60,000 $4,751 7.93%
    47% 12 $840,000 $70,000 $3,736 5.73%
    37% 11 $995,000 $90,455 $2,811 7.72%
    49% 10 $580,000 $58,000 $3,374 5.93%
    40% 10 $710,000 $71,000 $6,033 5.49%
    48% 6 $640,000 $106,667 $6,430 6.90%
    38% 5 $255,000 $51,000 $2,472 4.03%

    Canton School Employees lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 396 $27,910,000 $70,480 $3,801 6.15%
    Black 53 $3,265,000 $61,604 $3,958 7.11%

    Approval Rates

    Total approvals of all applications
    91.67%

    Canton School Employees has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.42%

    Canton School Employees has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 449 $31,175,000 $69,432

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    449 $31,175,000 $69,432

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 141 $8,275,000 $58,688 $3,456 6.29%
    40-60% 54 $4,280,000 $79,259 $2,934 6.20%
    60-80% 50 $5,950,000 $119,000 $3,429 5.74%
    80-100% 49 $6,975,000 $142,347 $4,416 5.39%
    Under 20% 155 $5,695,000 $36,742 $0 6.71%