Farmers Bank Mortgage Rates, Fees & Info
Buhl, IDLEI: 254900GRNKKCY7NMXC23
Tax ID: 82-0118025
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Mortgage Data
Review & Overview
Farmers Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Twin Falls, Lake Havasu City, Boise City, Mountain Home, and Hailey among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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 |
|---|---|---|
| 15 Year Conventional Purchase | 6.43% | 11/21/24 |
| 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. | ||
Farmers Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
63Origination Dollar Volume (All Markets)
$9,745,000Top 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 |
|---|---|---|---|---|---|
| TWIN FALLS, ID (FHA|USDA|VA) | 47 | $5,965,000 | $126,915 | $1,239 | 8.07% |
| Outside of Metro Areas | 9 | $2,695,000 | $299,444 | $4,197 | 7.69% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $0 | 7.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $675 | 7.75% |
| Mountain Home, ID (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $822 | 7.88% |
| Hailey, ID (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 8.25% |
| Burley, ID (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,382 | 9.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 63 | $9,745,000 | $154,683 | $1,651 | 8.00% |
For 2023, Farmers Bank's most frequently originated type of loan was Conventional, with 63 originations.
Loan Reason
For 2023, Farmers Bank's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.
Loan Duration/Length
For 2023, Farmers Bank's most frequently cited loan duration was Other, with 40 originations. The 2nd most popular length was 10 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 46 | $6,000,000 | $130,435 |
Farmers Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 46 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 30 | $3,840,000 | $128,000 |
| Over 8% | 27 | $3,365,000 | $124,630 |
| 6-7% | 5 | $2,435,000 | $487,000 |
During 2023, Farmers Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 30 originations.
Loan Sizing
2023 saw Farmers Bank place emphasis on $100,000 or less loans with 35 originations, totaling $1,815,000 in origination value.
Applicant Income
Farmers Bank lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $100k-150k, with 8 originations.
Applicant Debt to Income Ratio
Farmers Bank lent most frequently to those with DTI ratios of 50-60%, with 10 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 50 | $6,640,000 | $132,800 | $1,651 | 8.10% |
| Not applicable | 13 | $3,105,000 | $238,846 | $0 | 7.58% |
Approval Rates
Total approvals of all applications93.42%
Farmers Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.30%
Farmers Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 63 | $9,745,000 | $154,683 |