The Farmers National Bank Of Canfield Mortgage Rates, Fees & Info

Canfield, OH

LEI: 549300YNUT7D0FWKU636

Tax ID: 34-0214400

5 stars - Updated: 2/26/24 - out of 5 stars, based on 40 reviews

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

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Mortgage Data

Review & Overview

The Farmers National Bank Of Canfield is a smaller bank specializing in Home Purchase and Refi loans. The Farmers National Bank Of Canfield has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Youngstown, Wooster, Canton, Cleveland, and Akron among others. We have data for 45 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Farmers National Bank Of Canfield 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. The Farmers National Bank Of Canfield 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 about average 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% 2/26/24
30 Year Conventional Purchase 6.70% 2/26/24
30 Year Conventional Refi 6.45% 2/26/24
30 Year Cash-out Refi 6.80% 2/26/24
30 Year FHA Purchase 7.49% 2/26/24
30 Year VA Purchase 6.08% 2/26/24
15 Year Conventional Purchase 6.35% 2/26/24
15 Year Conventional Refi 6.35% 2/26/24
15 Year Cash-out Refi 6.35% 2/26/24
15 Year FHA Purchase 5.68% 2/26/24
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.

The Farmers National Bank Of Canfield Mortgage Calculator






Your Estimates

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

This is not an official calculator from The Farmers National Bank Of Canfield. 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

1,629

Origination Dollar Volume (All Markets)

$281,225,000

Relative Rate

The Farmers National Bank Of Canfield's average 30 year fixed mortgage rate was 4.52%.

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

This yields a difference of -0.24%.

Relative Fees (Closing Costs)

The Farmers National Bank Of Canfield's average total fees/closing costs for a 30 year fixed rate mortgage were $4,293.

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
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 631 $95,995,000 $152,132 $3,684 4.63%
Wooster, OH (FHA|USDA|VA) 294 $49,610,000 $168,741 $4,289 4.44%
CANTON-MASSILLON, OH (FHA|USDA|VA) 192 $38,270,000 $199,323 $4,332 4.46%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 112 $25,920,000 $231,429 $4,689 4.58%
AKRON, OH (FHA|USDA|VA) 97 $19,955,000 $205,722 $4,366 4.38%
Salem, OH (FHA|USDA|VA) 160 $19,670,000 $122,938 $3,223 4.65%
Outside of Metro Areas 36 $7,860,000 $218,333 $4,384 4.71%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $2,900,000 $725,000 $6,108 3.91%
PITTSBURGH, PA (FHA|USDA|VA) 16 $2,660,000 $166,250 $5,432 4.98%
COLUMBUS, OH (FHA|USDA|VA) 9 $2,155,000 $239,444 $4,983 5.37%
Ashtabula, OH (FHA|USDA|VA) 9 $1,785,000 $198,333 $4,240 4.88%
Ashland, OH (FHA|USDA|VA) 15 $1,685,000 $112,333 $4,106 4.81%
New Philadelphia-Dover, OH (FHA|USDA|VA) 11 $1,585,000 $144,091 $4,342 4.84%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $1,275,000 $1,275,000 $7,081 4.00%
Georgetown, SC (FHA|USDA|VA) 1 $1,135,000 $1,135,000 $7,533 2.63%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $825,000 $825,000 $14,405 5.88%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $690,000 $345,000 $4,360 4.44%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $640,000 $320,000 $4,240 3.13%
Coshocton, OH (FHA|USDA|VA) 3 $635,000 $211,667 $5,867 4.91%
Sandusky, OH (FHA|USDA|VA) 1 $505,000 $505,000 $6,721 3.60%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $475,000 $475,000 $6,087 6.38%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 6 $430,000 $71,667 $3,652 4.42%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $375,000 $375,000 $4,894 3.38%
Sidney, OH (FHA|USDA|VA) 1 $335,000 $335,000 $5,563 5.75%
SAVANNAH, GA (FHA|USDA|VA) 1 $315,000 $315,000 $4,267 4.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $285,000 $285,000 $3,285 3.00%
Lewistown, PA (FHA|USDA|VA) 1 $275,000 $275,000 $5,291 3.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,013 4.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $245,000 $245,000 $5,681 6.13%
LUBBOCK, TX (FHA|USDA|VA) 1 $245,000 $245,000 $5,629 3.50%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $225,000 $225,000 $4,549 5.50%
Washington, IN (FHA|USDA|VA) 1 $225,000 $225,000 $2,718 3.38%
MANSFIELD, OH (FHA|USDA|VA) 2 $220,000 $110,000 $3,398 4.63%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $195,000 $195,000 $3,753 5.25%
FORT WAYNE, IN (FHA|USDA|VA) 1 $195,000 $195,000 $4,121 6.13%
Cambridge, OH (FHA|USDA|VA) 2 $180,000 $90,000 $0 6.50%
Meadville, PA (FHA|USDA|VA) 1 $175,000 $175,000 $4,790 3.38%
LIMA, OH (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.35%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $145,000 $145,000 $2,497 5.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $135,000 $135,000 $3,832 3.88%
Adrian, MI (FHA|USDA|VA) 1 $115,000 $115,000 $3,205 2.75%
CHARLESTON, WV (FHA|USDA|VA) 1 $95,000 $95,000 $3,614 3.38%
TOLEDO, OH (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.38%
DuBois, PA (FHA|USDA|VA) 1 $55,000 $55,000 $3,305 3.25%
New Castle, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.00%
The Farmers National Bank Of Canfield's top markets include Youngstown, Wooster, Canton, Cleveland, and Akron among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against The Farmers National Bank of Canfield based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TRI BORO
    Similarity Rank: 208
    WELCOME HOME FINANCE, L.P.
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    Community Star Credit Union
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    Clear Mountain Bank
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    AmeriServ Financial Bank
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    Republic State Mortgage Co.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 996 $209,120,000 $209,960 $3,997 4.76%
    HELOC 610 $68,960,000 $113,049 n/a 4.25%
    FHA 21 $2,525,000 $120,238 $6,022 4.29%
    VA 2 $620,000 $310,000 $4,014 6.63%

    For 2022, The Farmers National Bank Of Canfield's most frequently originated type of loan was Conventional, with 996 originations. Their 2nd most popular type was HELOC, with 610 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 639 $135,315,000 $211,761 $4,465 4.95%
    Home Improvement 395 $33,005,000 $83,557 $1,430 4.35%
    Refi 310 $65,160,000 $210,194 $3,213 4.21%
    Cash Out Refi 157 $32,135,000 $204,682 $4,355 4.28%
    Other 128 $15,610,000 $121,953 $3,262 4.51%

    For 2022, The Farmers National Bank Of Canfield's most frequently cited loan purpose was Home Purchase, with 639 originations. The 2nd most popular reason was Home Improvement, with 395 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 942 $159,340,000 $169,151 $4,293 4.52%
    Other 246 $28,120,000 $114,309 $5,197 4.84%
    15 Year 137 $23,095,000 $168,577 $3,396 4.25%
    10 Year 106 $19,480,000 $183,774 $883 4.79%
    20 Year 82 $10,870,000 $132,561 $3,663 4.78%
    30+ year 65 $26,595,000 $409,154 $6,558 4.71%
    5 Year 51 $13,725,000 $269,118 $533 3.86%

    For 2022, The Farmers National Bank Of Canfield's most frequently cited loan duration was 30 Year, with 942 originations. The 2nd most popular length was Other, with 246 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 519 $110,765,000 $213,420
    $2k-3k 134 $27,790,000 $207,388
    $<1k 105 $9,485,000 $90,333
    $3k-4k 54 $14,100,000 $261,111
    $4k-5k 20 $5,850,000 $292,500
    $5k+ 15 $7,885,000 $525,667

    The Farmers National Bank Of Canfield's average total fees were $4,293, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 519 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 483 $90,355,000 $187,070
    4-5% 412 $75,530,000 $183,325
    5-6% 349 $61,745,000 $176,920
    6-7% 129 $18,095,000 $140,271
    <2.5% 117 $13,625,000 $116,453
    2.5-3% 75 $15,835,000 $211,133
    7-8% 57 $5,655,000 $99,211
    Over 8% 7 $385,000 $55,000

    During 2022, The Farmers National Bank Of Canfield's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 3-4%, with 483 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 647 $36,955,000 $57,117 $2,622 4.67%
    $100k-200k 501 $70,915,000 $141,547 $3,976 4.52%
    $200k-400k 371 $100,605,000 $271,173 $4,764 4.50%
    $400k-600k 77 $37,075,000 $481,494 $5,742 4.47%
    $600k-1MM 22 $16,240,000 $738,182 $7,082 4.41%
    $1MM+ 11 $19,435,000 $1,766,818 $8,146 3.61%

    2022 saw The Farmers National Bank Of Canfield place emphasis on $100,000 or less loans with 647 originations, totaling $36,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 397 $48,955,000 $123,312 $3,762 4.56%
    $50k or less 293 $24,855,000 $84,829 $3,397 4.65%
    $100k-150k 274 $49,180,000 $179,489 $4,519 4.58%
    $75k-100k 245 $38,595,000 $157,531 $4,273 4.59%
    $150k-250k 191 $45,975,000 $240,707 $4,661 4.29%
    $250k+ 109 $42,575,000 $390,596 $5,257 4.37%

    The Farmers National Bank Of Canfield lent most frequently to those with incomes in the $50k-75k range, with 397 originations. The second most popular income band? $50k or less, with 293 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 442 $68,600,000 $155,204 $3,914 4.39%
    30-36% 307 $48,235,000 $157,117 $4,081 4.67%
    <20% 281 $45,355,000 $161,406 $3,398 4.18%
    36% 62 $10,400,000 $167,742 $3,902 4.61%
    40% 55 $10,115,000 $183,909 $4,171 4.86%
    37% 49 $8,455,000 $172,551 $4,102 4.36%
    38% 47 $8,485,000 $180,532 $4,226 4.85%
    41% 44 $7,360,000 $167,273 $4,356 4.95%
    42% 42 $7,550,000 $179,762 $3,993 4.78%
    43% 40 $10,330,000 $258,250 $4,402 4.88%
    39% 35 $5,765,000 $164,714 $4,489 4.43%
    44% 21 $3,675,000 $175,000 $4,283 4.92%
    45% 20 $3,860,000 $193,000 $4,623 5.40%
    48% 17 $4,105,000 $241,471 $5,610 4.80%
    49% 15 $3,345,000 $223,000 $4,256 5.03%
    47% 9 $1,595,000 $177,222 $4,938 5.15%
    46% 8 $1,840,000 $230,000 $4,745 5.75%
    50-60% 7 $1,085,000 $155,000 $4,229 3.88%
    >60% 2 $130,000 $65,000 $0 3.94%

    The Farmers National Bank Of Canfield lent most frequently to those with DTI ratios of 20-30%, with 442 originations. The next most common DTI ratio? 30-36%, with 307 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,425 $237,065,000 $166,361 $4,075 4.55%
    Not applicable 84 $25,810,000 $307,262 $0 5.13%
    Not provided 83 $11,385,000 $137,169 $2,640 4.25%
    American Indian 8 $2,550,000 $318,750 $5,982 4.86%
    Black 19 $2,495,000 $131,316 $3,761 4.57%
    Asian 10 $1,920,000 $192,000 $4,167 3.89%

    Approval Rates

    Total approvals of all applications
    83.21%

    The Farmers National Bank Of Canfield has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.27%

    The Farmers National Bank Of Canfield has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,629 $281,225,000 $172,637

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,629 $281,225,000 $172,637

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 329 $34,145,000 $103,784 $2,662 4.24%
    40-60% 244 $43,550,000 $178,484 $3,888 4.31%
    60-80% 478 $112,980,000 $236,360 $4,538 4.71%
    80-100% 368 $79,050,000 $214,810 $4,375 4.81%
    Over 100% 4 $1,300,000 $325,000 $0 5.02%
    Under 20% 206 $10,200,000 $49,515 $728 4.61%