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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.85% | 12/16/24 |
| 30 Year Conventional Refi | 6.88% | 12/16/24 |
| 30 Year Cash-out Refi | 6.93% | 12/16/24 |
| 30 Year FHA Purchase | 7.47% | 12/16/24 |
| 30 Year FHA Refi | 7.90% | 12/16/24 |
| 30 Year VA Purchase | 6.53% | 12/16/24 |
| 15 Year Conventional Purchase | 7.42% | 12/16/24 |
| 15 Year Conventional Refi | 6.38% | 12/16/24 |
| 15 Year Cash-out Refi | 6.38% | 12/16/24 |
| 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
449Origination Dollar Volume (All Markets)
$31,175,000Awards
CANTON SCHOOL EMPLOYEES - 2022
CANTON SCHOOL EMPLOYEES is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| 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% |
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
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
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
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
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
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
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
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 applications91.67%
Canton School Employees has an average approval rate.
Pick Rate
Approvals leading to origination90.42%
Canton School Employees has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 449 | $31,175,000 | $69,432 |