Farmers And Miners Bank Mortgage Rates, Fees & Info

Pennington Gap, VA

LEI: 5493001HYUPH0X6FT603

Tax ID: 54-1050774

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Mortgage Data

Review & Overview

Farmers And Miners Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers And Miners Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kingsport, Big Stone Gap, Richmond, Deltona, and Lexington among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Farmers And Miners Bank 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.

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Originations

54

Origination Dollar Volume (All Markets)

$5,790,000

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
Outside of Metro Areas 37 $2,325,000 $62,838 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 4 $1,720,000 $430,000 $0 0.00%
Big Stone Gap, VA (FHA|USDA|VA) 10 $770,000 $77,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Farmers And Miners Bank's top markets include Kingsport, Big Stone Gap, Richmond, Deltona, and Lexington among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $5,790,000 $107,222 $0 0.00%

    For 2023, Farmers And Miners Bank's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $3,195,000 $118,333 $0 0.00%
    Refi 23 $2,455,000 $106,739 $0 0.00%
    Home Improvement 2 $60,000 $30,000 $0 0.00%
    Other 2 $80,000 $40,000 $0 0.00%

    For 2023, Farmers And Miners Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 54 $5,790,000 $107,222 $0 0.00%

    For 2023, Farmers And Miners Bank's most frequently cited loan duration was Other, with 54 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 38 $1,580,000 $41,579 $0 0.00%
    $100k-200k 13 $1,875,000 $144,231 $0 0.00%
    $1MM+ 1 $1,465,000 $1,465,000 $0 0.00%
    $200k-400k 1 $365,000 $365,000 $0 0.00%
    $400k-600k 1 $505,000 $505,000 $0 0.00%

    2023 saw Farmers And Miners Bank place emphasis on $100,000 or less loans with 38 originations, totaling $1,580,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $830,000 $51,875 $0 0.00%
    $50k-75k 12 $670,000 $55,833 $0 0.00%
    $100k-150k 8 $1,150,000 $143,750 $0 0.00%
    $150k-250k 5 $255,000 $51,000 $0 0.00%
    $75k-100k 5 $405,000 $81,000 $0 0.00%
    $250k+ 1 $1,465,000 $1,465,000 $0 0.00%

    Farmers And Miners Bank lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 54 $5,790,000 $107,222 $0 0.00%

    Farmers And Miners Bank lent most frequently to those with DTI ratios of Exempt%, with 54 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 47 $4,545,000 $96,702 $0 0.00%
    Not applicable 6 $880,000 $146,667 $0 0.00%
    Not provided 1 $365,000 $365,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.05%

    Farmers And Miners Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    57.41%

    Farmers And Miners Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 54 $5,790,000 $107,222

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    54 $5,790,000 $107,222