Merchants & Farmers Bank Mortgage Rates, Fees & Info

DUMAS, AR

LEI: 5493000A2XS66AH5XM81

Tax ID: 71-0120590

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Merchants & Farmers Bank is a smaller bank specializing in Home Purchase loans. Merchants & Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Little Rock, Hot Springs, Texarkana, Arkadelphia, and Pine Bluff among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Merchants & 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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    Originations

    33

    Origination Dollar Volume (All Markets)

    $6,005,000

    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
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 16 $2,780,000 $173,750 $0 0.00%
    HOT SPRINGS, AR (FHA|USDA|VA) 5 $2,365,000 $473,000 $0 0.00%
    Outside of Metro Areas 9 $495,000 $55,000 $0 0.00%
    TEXARKANA, TX-AR (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    Arkadelphia, AR (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    PINE BLUFF, AR (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Merchants & Farmers Bank's top markets include Little Rock, Hot Springs, Texarkana, Arkadelphia, and Pine Bluff among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 33 $6,005,000 $181,970 $0 0.00%

    For 2024, Merchants & Farmers Bank's most frequently originated type of loan was Conventional, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $4,730,000 $215,000 $0 0.00%
    Other 5 $455,000 $91,000 $0 0.00%
    Home Improvement 3 $245,000 $81,667 $0 0.00%
    Refi 3 $575,000 $191,667 $0 0.00%

    For 2024, Merchants & Farmers Bank's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Other, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 33 $6,005,000 $181,970 $0 0.00%

    For 2024, Merchants & Farmers Bank's most frequently cited loan duration was Other, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 13 $705,000 $54,231 $0 0.00%
    $100k-200k 11 $1,445,000 $131,364 $0 0.00%
    $200k-400k 6 $1,850,000 $308,333 $0 0.00%
    $600k-1MM 2 $1,490,000 $745,000 $0 0.00%
    $400k-600k 1 $515,000 $515,000 $0 0.00%

    2024 saw Merchants & Farmers Bank place emphasis on $100,000 or less loans with 13 originations, totaling $705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 3 $815,000 $271,667 $0 0.00%
    $75k-100k 3 $165,000 $55,000 $0 0.00%
    $100k-150k 2 $310,000 $155,000 $0 0.00%
    $250k+ 2 $450,000 $225,000 $0 0.00%
    $50k or less 2 $90,000 $45,000 $0 0.00%
    $50k-75k 1 $65,000 $65,000 $0 0.00%

    Merchants & Farmers Bank lent most frequently to those with incomes in the $150k-250k range, with 3 originations. The second most popular income band? $75k-100k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 33 $6,005,000 $181,970 $0 0.00%

    Merchants & Farmers Bank lent most frequently to those with DTI ratios of Exempt%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 15 $3,585,000 $239,000 $0 0.00%
    White 15 $2,245,000 $149,667 $0 0.00%
    Black 3 $175,000 $58,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.86%

    Merchants & Farmers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.82%

    Merchants & Farmers Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 33 $6,005,000 $181,970

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    33 $6,005,000 $181,970