Canton School Employees Mortgage Rates, Fees & Info
Canton, OHLEI: 549300KZVNU4UKZSWD59
Tax ID: 34-0796290
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Mortgage Data
Review & Overview
Canton School Employees is a smaller mortgage company specializing in Home Improvement, Other, and Cash Out Refi loans. Canton School Employees has a high proportion of conventional loans. Their top markets by origination volume include: Canton, Akron, Cleveland, New Philadelphia, and Columbus among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Canton School Employees has an average approval rate when compared to the average across all lenders. They have an 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.85% | 11/17/24 |
| 30 Year Conventional Refi | 6.88% | 11/17/24 |
| 30 Year Cash-out Refi | 6.93% | 11/17/24 |
| 30 Year FHA Purchase | 7.47% | 11/17/24 |
| 30 Year FHA Refi | 7.90% | 11/17/24 |
| 30 Year VA Purchase | 6.53% | 11/17/24 |
| 15 Year Conventional Purchase | 7.42% | 11/17/24 |
| 15 Year Conventional Refi | 6.38% | 11/17/24 |
| 15 Year Cash-out Refi | 6.38% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
356Origination Dollar Volume (All Markets)
$20,650,000Awards
CANTON SCHOOL EMPLOYEES - 2023
CANTON SCHOOL EMPLOYEES is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Canton School Employees's average 30 year fixed mortgage rate was
7.14%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.66%.
Relative Fees (Closing Costs)
Canton School Employees's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,754.
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 $9,089.
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) | 322 | $18,070,000 | $56,118 | $5,745 | 9.56% |
| AKRON, OH (FHA|USDA|VA) | 21 | $1,595,000 | $75,952 | $3,138 | 9.64% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $3,537 | 8.88% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $0 | 8.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 9.25% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $2,869 | 8.38% |
| Cambridge, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,704 | 7.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against CANTON SCHOOL EMPLOYEES 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 192 | $10,760,000 | $56,042 | n/a | 9.67% |
| Conventional | 163 | $9,815,000 | $60,215 | $5,070 | 9.38% |
| VA | 1 | $75,000 | $75,000 | $0 | 6.63% |
For 2023, Canton School Employees's most frequently originated type of loan was HELOC, with 192 originations. Their 2nd most popular type was Conventional, with 163 originations.
Loan Reason
For 2023, Canton School Employees's most frequently cited loan purpose was Home Improvement, with 99 originations. The 2nd most popular reason was Other, with 91 originations.
Loan Duration/Length
For 2023, Canton School Employees's most frequently cited loan duration was 15 Year, with 228 originations. The 2nd most popular length was 10 Year, with 93 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 18 | $1,700,000 | $94,444 |
| $1k-2k | 7 | $1,375,000 | $196,429 |
| $2k-3k | 1 | $85,000 | $85,000 |
| $5k+ | 1 | $205,000 | $205,000 |
Canton School Employees's average total fees were $3,754, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 311 | $16,405,000 | $52,749 |
| 7-8% | 35 | $3,205,000 | $91,571 |
| 6-7% | 10 | $1,040,000 | $104,000 |
During 2023, Canton School Employees's average interest rate for loans was 7.14%, while their most frequently originated rate bucket for loans was Over 8%, with 311 originations.
Loan Sizing
2023 saw Canton School Employees place emphasis on $100,000 or less loans with 316 originations, totaling $14,190,000 in origination value.
Applicant Income
Canton School Employees lent most frequently to those with incomes in the $50k-75k range, with 91 originations. The second most popular income band? $100k-150k, with 85 originations.
Applicant Debt to Income Ratio
Canton School Employees lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? 30-36%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.17%
Canton School Employees has an average approval rate.
Pick Rate
Approvals leading to origination91.01%
Canton School Employees has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 356 | $20,650,000 | $58,006 |