The Farmers Savings Bank Mortgage Rates, Fees & Info
Spencer, OHLEI: 5493003JPO4OLRGNJI77
Tax ID: 34-0214460
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The Farmers Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. The Farmers Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cleveland, Ashland, Mansfield, Norwalk, and Canton among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)The Farmers Savings Bank 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
91Origination Dollar Volume (All Markets)
$12,465,000Top 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 |
|---|---|---|---|---|---|
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 67 | $8,735,000 | $130,373 | $0 | 0.00% |
| Ashland, OH (FHA|USDA|VA) | 13 | $1,545,000 | $118,846 | $0 | 0.00% |
| MANSFIELD, OH (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $0 | 0.00% |
| Norwalk, OH (FHA|USDA|VA) | 4 | $590,000 | $147,500 | $0 | 0.00% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| AKRON, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 91 | $12,465,000 | $136,978 | $0 | 0.00% |
For 2018, The Farmers Savings Bank's most frequently originated type of loan was Conventional, with 91 originations.
Loan Reason
For 2018, The Farmers Savings Bank's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Refi, with 35 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 91 | $12,465,000 | $136,978 | $0 | 0.00% |
For 2018, The Farmers Savings Bank's most frequently cited loan duration was Other, with 91 originations.
Loan Sizing
2018 saw The Farmers Savings Bank place emphasis on $100,000 or less loans with 46 originations, totaling $2,690,000 in origination value.
Applicant Income
The Farmers Savings Bank lent most frequently to those with incomes in the $50k or less range, with 24 originations. The second most popular income band? $75k-100k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 91 | $12,465,000 | $136,978 | $0 | 0.00% |
The Farmers Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 91 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 77 | $11,165,000 | $145,000 | $0 | 0.00% |
| Not applicable | 14 | $1,300,000 | $92,857 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.15%
The Farmers Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.31%
The Farmers Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 91 | $12,465,000 | $136,978 |