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

Canfield, OH

LEI: 549300YNUT7D0FWKU636

Tax ID: 34-0214400

5 stars - Updated: 12/6/24 - out of 5 stars, based on 36 reviews

Latest/2023 | 2022 Data | 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, Akron, and Cleveland 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 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 12/6/24
30 Year Conventional Purchase 6.70% 12/6/24
30 Year Conventional Refi 6.45% 12/6/24
30 Year Cash-out Refi 6.80% 12/6/24
30 Year FHA Purchase 7.49% 12/6/24
30 Year VA Purchase 6.08% 12/6/24
15 Year Conventional Purchase 6.35% 12/6/24
15 Year Conventional Refi 6.35% 12/6/24
15 Year Cash-out Refi 6.35% 12/6/24
15 Year FHA Purchase 5.68% 12/6/24
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

1,284

Origination Dollar Volume (All Markets)

$217,650,000

Awards

The Farmers National Bank of Canfield 30 Year Conventional Loans silver The Farmers National Bank of Canfield FHA Loans silver
Show all (2) awards

Relative Rate

The Farmers National Bank Of Canfield's average 30 year fixed mortgage rate was 6.83%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.35%.

Relative Fees (Closing Costs)

The Farmers National Bank Of Canfield's average total fees/closing costs for a 30 year fixed rate mortgage were $4,508.

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
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 477 $74,175,000 $155,503 $4,125 6.82%
Wooster, OH (FHA|USDA|VA) 191 $32,065,000 $167,880 $4,572 6.62%
CANTON-MASSILLON, OH (FHA|USDA|VA) 119 $19,765,000 $166,092 $4,092 6.80%
AKRON, OH (FHA|USDA|VA) 91 $18,755,000 $206,099 $4,679 6.84%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 66 $15,480,000 $234,545 $4,702 6.81%
PITTSBURGH, PA (FHA|USDA|VA) 49 $11,865,000 $242,143 $5,571 6.35%
Salem, OH (FHA|USDA|VA) 103 $11,205,000 $108,786 $2,864 6.75%
Outside of Metro Areas 61 $8,235,000 $135,000 $3,568 6.67%
Oil City, PA (FHA|USDA|VA) 20 $5,270,000 $263,500 $2,911 7.09%
COLUMBUS, OH (FHA|USDA|VA) 5 $2,415,000 $483,000 $6,954 6.05%
ERIE, PA (FHA|USDA|VA) 12 $1,610,000 $134,167 $4,526 6.78%
Ashland, OH (FHA|USDA|VA) 9 $1,335,000 $148,333 $4,503 6.93%
New Philadelphia-Dover, OH (FHA|USDA|VA) 5 $1,155,000 $231,000 $4,970 6.65%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,150,000 $575,000 $5,412 6.75%
St. Marys, PA (FHA|USDA|VA) 10 $960,000 $96,000 $3,236 7.17%
MANSFIELD, OH (FHA|USDA|VA) 4 $680,000 $170,000 $3,949 6.61%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $675,000 $675,000 $4,062 6.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $665,000 $665,000 $8,187 6.00%
DuBois, PA (FHA|USDA|VA) 7 $665,000 $95,000 $3,089 6.75%
New Castle, PA (FHA|USDA|VA) 5 $665,000 $133,000 $3,541 7.27%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $635,000 $635,000 $12,343 5.63%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 5 $625,000 $125,000 $2,534 8.39%
Meadville, PA (FHA|USDA|VA) 9 $615,000 $68,333 $2,484 7.35%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $585,000 $585,000 $6,643 7.50%
Cambridge, OH (FHA|USDA|VA) 3 $565,000 $188,333 $5,334 6.79%
TOLEDO, OH (FHA|USDA|VA) 3 $565,000 $188,333 $3,763 6.79%
Sandusky, OH (FHA|USDA|VA) 2 $560,000 $280,000 $5,028 6.50%
Cadillac, MI (FHA|USDA|VA) 1 $505,000 $505,000 $4,017 5.88%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $480,000 $240,000 $4,622 6.50%
Zanesville, OH (FHA|USDA|VA) 2 $460,000 $230,000 $5,077 7.63%
Ashtabula, OH (FHA|USDA|VA) 3 $375,000 $125,000 $0 7.04%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $375,000 $375,000 $5,561 7.50%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $355,000 $355,000 $7,743 6.13%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $295,000 $295,000 $4,357 7.63%
Somerset, PA (FHA|USDA|VA) 1 $255,000 $255,000 $0 8.00%
Coshocton, OH (FHA|USDA|VA) 1 $245,000 $245,000 $4,597 7.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $225,000 $225,000 $5,438 7.25%
Georgetown, SC (FHA|USDA|VA) 1 $225,000 $225,000 $4,246 6.63%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $6,485 7.25%
MUNCIE, IN (FHA|USDA|VA) 1 $175,000 $175,000 $2,868 6.88%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $155,000 $155,000 $4,718 7.25%
WHEELING, WV-OH (FHA|USDA|VA) 1 $135,000 $135,000 $4,745 6.50%
Jackson, OH (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.99%
Findlay, OH (FHA|USDA|VA) 1 $65,000 $65,000 $3,570 6.50%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.90%
The Farmers National Bank Of Canfield's top markets include Youngstown, Wooster, Canton, Akron, and Cleveland among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Texas (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.

    FIRESTONE
    Similarity Rank: 9
    TRI BORO
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    CANTON SCHOOL EMPLOYEES
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    InFirst Bank
    Similarity Rank: 300
    AmeriServ Financial Bank
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    Community Star Credit Union
    Similarity Rank: 465
    Ohio Catholic Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 721 $149,945,000 $207,968 $4,097 6.90%
    HELOC 543 $63,875,000 $117,634 n/a 6.62%
    FHA 15 $2,745,000 $183,000 $7,426 6.56%
    VA 5 $1,085,000 $217,000 $6,095 5.85%

    For 2023, The Farmers National Bank Of Canfield's most frequently originated type of loan was Conventional, with 721 originations. Their 2nd most popular type was HELOC, with 543 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 527 $124,365,000 $235,987 $4,844 6.83%
    Home Improvement 296 $23,820,000 $80,473 $849 6.85%
    Refi 275 $44,815,000 $162,964 $1,982 6.48%
    Other 121 $13,705,000 $113,264 $1,842 6.93%
    Cash Out Refi 65 $10,945,000 $168,385 $4,613 6.93%

    For 2023, The Farmers National Bank Of Canfield's most frequently cited loan purpose was Home Purchase, with 527 originations. The 2nd most popular reason was Home Improvement, with 296 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 613 $109,075,000 $177,936 $4,508 6.83%
    Other 390 $51,400,000 $131,795 $5,608 6.56%
    10 Year 80 $8,640,000 $108,000 $800 6.88%
    20 Year 74 $9,700,000 $131,081 $4,168 6.90%
    15 Year 71 $6,825,000 $96,127 $1,941 7.28%
    30+ year 47 $29,985,000 $637,979 $8,155 6.61%
    5 Year 6 $1,690,000 $281,667 $0 6.96%
    3 Year 2 $320,000 $160,000 $0 8.88%
    1 Year 1 $15,000 $15,000 $0 7.00%

    For 2023, The Farmers National Bank Of Canfield's most frequently cited loan duration was 30 Year, with 613 originations. The 2nd most popular length was Other, with 390 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 373 $92,645,000 $248,378
    $<1k 120 $8,300,000 $69,167
    $2k-3k 72 $14,560,000 $202,222
    $3k-4k 23 $6,605,000 $287,174
    $5k+ 9 $3,905,000 $433,889
    $4k-5k 8 $2,440,000 $305,000

    The Farmers National Bank Of Canfield's average total fees were $4,508, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 373 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 562 $99,040,000 $176,228
    5-6% 265 $51,935,000 $195,981
    7-8% 254 $43,850,000 $172,638
    Over 8% 125 $10,185,000 $81,480
    3-4% 47 $6,165,000 $131,170
    4-5% 31 $6,475,000 $208,871

    During 2023, The Farmers National Bank Of Canfield's average interest rate for loans was 6.83%, while their most frequently originated rate bucket for loans was 6-7%, with 562 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 530 $28,340,000 $53,472 $2,260 6.97%
    $100k-200k 407 $57,615,000 $141,560 $4,225 6.70%
    $200k-400k 263 $69,385,000 $263,821 $4,953 6.58%
    $400k-600k 40 $19,600,000 $490,000 $5,901 6.55%
    $600k-1MM 33 $24,065,000 $729,242 $8,045 6.48%
    $1MM+ 11 $18,645,000 $1,695,000 $10,372 6.19%

    2023 saw The Farmers National Bank Of Canfield place emphasis on $100,000 or less loans with 530 originations, totaling $28,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 281 $30,705,000 $109,270 $3,493 6.84%
    $100k-150k 241 $37,545,000 $155,788 $4,483 6.77%
    $75k-100k 208 $29,110,000 $139,952 $4,188 6.84%
    $50k or less 187 $14,915,000 $79,759 $3,354 6.83%
    $150k-250k 163 $37,385,000 $229,356 $5,310 6.66%
    $250k+ 98 $44,710,000 $456,224 $6,852 6.23%

    The Farmers National Bank Of Canfield lent most frequently to those with incomes in the $50k-75k range, with 281 originations. The second most popular income band? $100k-150k, with 241 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 333 $48,445,000 $145,480 $3,852 6.67%
    30-36% 237 $40,465,000 $170,738 $3,970 6.81%
    <20% 183 $27,315,000 $149,262 $3,493 6.31%
    43% 54 $9,570,000 $177,222 $4,317 6.75%
    38% 46 $8,530,000 $185,435 $4,858 6.68%
    42% 43 $10,135,000 $235,698 $5,388 6.91%
    40% 42 $6,820,000 $162,381 $4,681 7.35%
    36% 39 $6,235,000 $159,872 $4,637 7.16%
    41% 37 $5,175,000 $139,865 $3,178 7.26%
    37% 36 $5,180,000 $143,889 $4,669 7.04%
    39% 34 $7,510,000 $220,882 $4,773 6.68%
    46% 18 $3,290,000 $182,778 $4,353 7.25%
    47% 17 $3,055,000 $179,706 $4,346 7.04%
    48% 16 $3,240,000 $202,500 $4,403 6.81%
    44% 15 $3,305,000 $220,333 $6,326 6.64%
    45% 12 $2,860,000 $238,333 $4,793 6.81%
    49% 11 $2,385,000 $216,818 $4,266 7.23%
    50-60% 10 $1,780,000 $178,000 $4,709 6.81%
    >60% 1 $25,000 $25,000 $573 6.75%

    The Farmers National Bank Of Canfield lent most frequently to those with DTI ratios of 20-30%, with 333 originations. The next most common DTI ratio? 30-36%, with 237 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,116 $183,420,000 $164,355 $4,242 6.76%
    Not applicable 82 $18,970,000 $231,341 $0 7.17%
    Not provided 70 $10,160,000 $145,143 $1,867 6.52%
    Asian 7 $4,085,000 $583,571 $5,812 6.28%
    Black 8 $750,000 $93,750 $4,015 7.22%
    American Indian 1 $265,000 $265,000 $5,492 7.75%

    Approval Rates

    Total approvals of all applications
    78.90%

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

    Pick Rate

    Approvals leading to origination
    84.11%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,284 $217,650,000 $169,509

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,284 $217,650,000 $169,509

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 261 $27,185,000 $104,157 $1,832 6.70%
    40-60% 174 $29,550,000 $169,828 $4,379 6.61%
    60-80% 321 $72,285,000 $225,187 $4,898 6.83%
    80-100% 302 $76,890,000 $254,603 $4,737 6.73%
    Over 100% 4 $950,000 $237,500 $9,088 6.93%
    Under 20% 221 $10,775,000 $48,756 $809 6.98%