Farmers State Bank S/b Mortgage Rates, Fees & Info

SCHELL CITY, MO

LEI: 2549002V3ASSGQWSEF62

Tax ID: 44-0243060

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Mortgage Data

Review & Overview

Farmers State Bank S/b is a smaller bank specializing in Home Purchase and Refi loans. Farmers State Bank S/b has a high proportion of conventional loans. Their top (well, only) market is Springfield.

Farmers State Bank S/b has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

38

Origination Dollar Volume (All Markets)

$4,860,000

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
SPRINGFIELD, MO (FHA|USDA|VA) 17 $3,285,000 $193,235 $0 0.00%
Outside of Metro Areas 21 $1,575,000 $75,000 $0 0.00%
Farmers State Bank S/b's top markets include and Springfield among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $4,860,000 $127,895 $0 0.00%

    For 2019, Farmers State Bank S/b's most frequently originated type of loan was Conventional, with 38 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 24 $3,560,000 $148,333 $0 0.00%
    Refi 9 $1,105,000 $122,778 $0 0.00%
    Home Improvement 2 $40,000 $20,000 $0 0.00%
    Cash Out Refi 2 $120,000 $60,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    For 2019, Farmers State Bank S/b's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 38 $4,860,000 $127,895 $0 0.00%

    For 2019, Farmers State Bank S/b's most frequently cited loan duration was Other, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,285,000 $51,400 $0 0.00%
    $100k-200k 7 $1,005,000 $143,571 $0 0.00%
    $200k-400k 3 $785,000 $261,667 $0 0.00%
    $400k-600k 2 $1,020,000 $510,000 $0 0.00%
    $600k-1MM 1 $765,000 $765,000 $0 0.00%

    2019 saw Farmers State Bank S/b place emphasis on $100,000 or less loans with 25 originations, totaling $1,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $1,185,000 $91,154 $0 0.00%
    $50k or less 9 $515,000 $57,222 $0 0.00%
    $150k-250k 6 $1,370,000 $228,333 $0 0.00%
    $100k-150k 5 $1,445,000 $289,000 $0 0.00%
    $75k-100k 5 $345,000 $69,000 $0 0.00%

    Farmers State Bank S/b lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $50k or less, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 38 $4,860,000 $127,895 $0 0.00%

    Farmers State Bank S/b lent most frequently to those with DTI ratios of Exempt%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 38 $4,860,000 $127,895 $0 0.00%

    Approval Rates

    Total approvals of all applications
    78.00%

    Farmers State Bank S/b has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    97.37%

    Farmers State Bank S/b has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 38 $4,860,000 $127,895

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 15 $1,055,000 $70,333
    Single Family (1-4 Units):Site-Built 23 $3,805,000 $165,435