The Farmers National Bank Of Canfield Mortgage Rates, Fees & Info
Canfield, OHLEI: 549300YNUT7D0FWKU636
Tax ID: 34-0214400
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/1/23 |
| 30 Year Conventional Purchase | 6.70% | 4/1/23 |
| 30 Year Conventional Refi | 6.45% | 4/1/23 |
| 30 Year Cash-out Refi | 6.80% | 4/1/23 |
| 30 Year FHA Purchase | 7.49% | 4/1/23 |
| 30 Year VA Purchase | 6.08% | 4/1/23 |
| 15 Year Conventional Purchase | 6.35% | 4/1/23 |
| 15 Year Conventional Refi | 6.35% | 4/1/23 |
| 15 Year Cash-out Refi | 6.35% | 4/1/23 |
| 15 Year FHA Purchase | 5.68% | 4/1/23 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,629Origination Dollar Volume (All Markets)
$281,225,000Relative 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% |
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.
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Product Mix
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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications83.21%
The Farmers National Bank Of Canfield has a below average approval rate.
Pick Rate
Approvals leading to origination85.27%
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 |