The Farmers Bank & Savings Company Mortgage Rates, Fees & Info

Pomeroy, OH

LEI: 25490074WALW1U7G4555

Tax ID: 31-4177210

5 stars - Updated: 4/16/25 - out of 5 stars, based on 11 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The Farmers Bank & Savings Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Farmers Bank & Savings Company has a high proportion of conventional loans. Their top markets by origination volume include: Point Pleasant, Athens, Huntington, Columbus, and Charleston among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Farmers Bank & Savings Company 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 Bank & Savings Company 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
    30 Year Conventional Purchase 7.51% 4/16/25
    30 Year Conventional Refi 7.20% 4/16/25
    30 Year Cash-out Refi 7.25% 4/16/25
    30 Year FHA Purchase 6.72% 4/16/25
    30 Year USDA Purchase 6.72% 4/16/25
    15 Year Conventional Purchase 10.00% 4/16/25
    15 Year Conventional Refi 8.15% 4/16/25
    15 Year Cash-out Refi 8.15% 4/16/25
    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 Bank & Savings Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The Farmers Bank & Savings Company. 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

    128

    Origination Dollar Volume (All Markets)

    $18,770,000

    Awards

    The Farmers Bank & Savings Company 30 Year Conventional Loans gold The Farmers Bank & Savings Company 30 Year Conventional Loans gold The Farmers Bank & Savings Company 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    The Farmers Bank & Savings Company's average 30 year fixed mortgage rate was 7.1%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.55%.

    Relative Fees (Closing Costs)

    The Farmers Bank & Savings Company's average total fees/closing costs for a 30 year fixed rate mortgage were $3,099.

    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 $8,356.

    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
    Point Pleasant, WV-OH (FHA|USDA|VA) 57 $7,675,000 $134,649 $2,971 7.81%
    Outside of Metro Areas 40 $5,890,000 $147,250 $2,631 7.42%
    Athens, OH (FHA|USDA|VA) 14 $2,030,000 $145,000 $2,803 6.71%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 8 $1,150,000 $143,750 $2,788 8.38%
    COLUMBUS, OH (FHA|USDA|VA) 4 $1,140,000 $285,000 $6,170 6.59%
    CHARLESTON, WV (FHA|USDA|VA) 3 $525,000 $175,000 $2,269 8.04%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 1 $295,000 $295,000 $0 7.75%
    Jackson, OH (FHA|USDA|VA) 1 $65,000 $65,000 $1,612 7.13%
    The Farmers Bank & Savings Company's top markets include Point Pleasant, Athens, Huntington, Columbus, and Charleston among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Similar Lenders

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

    The Farmers Bank & Savings Company
    Similarity Rank: 32
    The Ohio Valley Bank Company
    Similarity Rank: 45
    Mortgage Research Center, LLC
    Similarity Rank: 1836
    MOVEMENT MORTGAGE, LLC
    Similarity Rank: 2076
    QUICKEN LOANS, LLC
    Similarity Rank: 7384

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 128 $18,770,000 $146,641 $2,859 7.56%

    For 2024, The Farmers Bank & Savings Company's most frequently originated type of loan was Conventional, with 128 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 62 $10,230,000 $165,000 $3,452 7.67%
    Cash Out Refi 34 $3,980,000 $117,059 $2,234 7.48%
    Refi 13 $2,055,000 $158,077 $2,098 7.79%
    Other 12 $1,510,000 $125,833 $2,668 7.07%
    Home Improvement 7 $995,000 $142,143 $2,836 7.48%

    For 2024, The Farmers Bank & Savings Company's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 45 $7,745,000 $172,111 $3,099 7.10%
    20 Year 39 $4,535,000 $116,282 $2,062 7.90%
    15 Year 14 $920,000 $65,714 $1,873 7.69%
    30+ year 12 $3,050,000 $254,167 $4,848 6.93%
    10 Year 9 $225,000 $25,000 $1,398 8.58%
    Other 6 $840,000 $140,000 $0 8.26%
    1 Year 2 $1,450,000 $725,000 $9,429 7.81%
    5 Year 1 $5,000 $5,000 $761 7.13%

    For 2024, The Farmers Bank & Savings Company's most frequently cited loan duration was 30 Year, with 45 originations. The 2nd most popular length was 20 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 41 $7,075,000 $172,561
    $<1k 38 $2,280,000 $60,000
    $2k-3k 6 $1,660,000 $276,667
    $3k-4k 4 $1,300,000 $325,000
    $5k+ 2 $1,120,000 $560,000

    The Farmers Bank & Savings Company's average total fees were $3,099, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 41 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 65 $10,375,000 $159,615
    6-7% 36 $5,170,000 $143,611
    Over 8% 27 $3,225,000 $119,444

    During 2024, The Farmers Bank & Savings Company's average interest rate for loans was 7.10%, while their most frequently originated rate bucket for loans was 7-8%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 52 $2,780,000 $53,462 $1,684 7.91%
    $100k-200k 49 $7,215,000 $147,245 $2,840 7.45%
    $200k-400k 24 $6,820,000 $284,167 $4,597 7.06%
    $600k-1MM 2 $1,450,000 $725,000 $9,429 7.81%
    $400k-600k 1 $505,000 $505,000 $9,122 6.63%

    2024 saw The Farmers Bank & Savings Company place emphasis on $100,000 or less loans with 52 originations, totaling $2,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $4,830,000 $150,938 $2,946 7.59%
    $75k-100k 23 $3,195,000 $138,913 $2,775 7.40%
    $50k-75k 20 $2,620,000 $131,000 $2,966 7.47%
    $50k or less 15 $1,515,000 $101,000 $2,455 7.34%
    $150k-250k 9 $1,665,000 $185,000 $3,888 6.99%
    $250k+ 3 $625,000 $208,333 $2,486 7.29%

    The Farmers Bank & Savings Company lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $75k-100k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 29 $3,255,000 $112,241 $2,643 7.27%
    <20% 23 $3,535,000 $153,696 $3,000 7.63%
    30-36% 19 $1,955,000 $102,895 $2,304 7.49%
    39% 4 $500,000 $125,000 $2,701 7.44%
    41% 4 $810,000 $202,500 $3,937 7.53%
    49% 3 $885,000 $295,000 $5,351 6.96%
    50-60% 3 $815,000 $271,667 $3,352 7.13%
    36% 3 $355,000 $118,333 $2,856 7.13%
    38% 3 $605,000 $201,667 $4,080 7.08%
    37% 2 $440,000 $220,000 $3,880 8.19%
    45% 2 $300,000 $150,000 $2,825 7.13%
    >60% 1 $165,000 $165,000 $2,897 7.13%
    40% 1 $85,000 $85,000 $0 8.50%
    44% 1 $185,000 $185,000 $1,861 7.13%

    The Farmers Bank & Savings Company lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? <20%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 115 $16,845,000 $146,478 $2,881 7.48%
    Not applicable 12 $1,920,000 $160,000 $0 8.38%
    Black 1 $5,000 $5,000 $761 7.13%

    Approval Rates

    Total approvals of all applications
    78.64%

    The Farmers Bank & Savings Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.78%

    The Farmers Bank & Savings Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 128 $18,770,000 $146,641

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    128 $18,770,000 $146,641

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $2,305,000 $100,217 $1,904 7.54%
    40-60% 17 $2,725,000 $160,294 $3,359 7.77%
    60-80% 42 $7,150,000 $170,238 $3,690 7.55%
    80-100% 36 $6,270,000 $174,167 $3,122 7.58%
    Under 20% 10 $320,000 $32,000 $1,446 7.26%