Farmers Statebank Of Munith Mortgage Rates, Fees & Info
Munith, MILEI: 254900ZCC2M5LEMAEK61
Tax ID: 38-0531120
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Mortgage Data
Review & Overview
Farmers Statebank Of Munith is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Farmers Statebank Of Munith has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Detroit, Lansing, Ann Arbor, and Hillsdale among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers Statebank Of Munith has an above 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
198Origination Dollar Volume (All Markets)
$31,380,000Top 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 |
|---|---|---|---|---|---|
| JACKSON, MI (FHA|USDA|VA) | 84 | $11,870,000 | $141,310 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 35 | $7,105,000 | $203,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 50 | $6,900,000 | $138,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 10 | $2,330,000 | $233,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 7 | $1,095,000 | $156,429 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $630,000 | $157,500 | $0 | 0.00% |
| SAGINAW, MI (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 198 | $31,380,000 | $158,485 | $0 | 0.00% |
For 2021, Farmers Statebank Of Munith's most frequently originated type of loan was Conventional, with 198 originations.
Loan Reason
For 2021, Farmers Statebank Of Munith's most frequently cited loan purpose was Refi, with 70 originations. The 2nd most popular reason was Home Purchase, with 56 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 198 | $31,380,000 | $158,485 | $0 | 0.00% |
For 2021, Farmers Statebank Of Munith's most frequently cited loan duration was Other, with 198 originations.
Loan Sizing
2021 saw Farmers Statebank Of Munith place emphasis on $100k-200k loans with 78 originations, totaling $11,360,000 in origination value.
Applicant Income
Farmers Statebank Of Munith lent most frequently to those with incomes in the $50k-75k range, with 48 originations. The second most popular income band? $50k or less, with 43 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 198 | $31,380,000 | $158,485 | $0 | 0.00% |
Farmers Statebank Of Munith lent most frequently to those with DTI ratios of Exempt%, with 198 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.58%
Farmers Statebank Of Munith has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.44%
Farmers Statebank Of Munith has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 198 | $31,380,000 | $158,485 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Farmers State Bank of Munith | 12005 Michigan Avenue Grass Lake, MI 49240 | Full Service B&M | $26,921 |
| Farmers State Bank of Munith | 201 North Main Street Munith, MI 49259 | Full Service B&M | $32,062 |
| Farmers State Bank of Munith | 5101 South M-106 Stockbridge, MI 49285 | Full Service B&M | $36,461 |
For 2021, Farmers Statebank Of Munith had 3 branches.