Greenstone Farm Credit Services Flca Mortgage Rates, Fees & Info

East Lansing, MI

LEI: 549300461TECLDDGNF98

Tax ID: 38-1358859

3.5 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Greenstone Farm Credit Services Flca is a smaller mortgage company specializing in Home Purchase and Refi loans. Greenstone Farm Credit Services Flca has a high proportion of conventional loans. Their top markets include Detroit, Grand Rapids, Lansing, Ann Arbor, and Traverse City among others. Greenstone Farm Credit Services Flca has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Greenstone Farm Credit Services Flca is typically an average fee lendor.


Originations

1,337

Origination Dollar Volume (All Markets)

$364,385,000

Relative Rate

Greenstone Farm Credit Services Flca's average 30 year fixed rate mortgage of loans were 3.8%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.65%.

Relative Fees

Greenstone Farm Credit Services Flca's average total fees for a 30 year fixed rate mortgage are $4,278.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 333 $71,825,000 $215,691 $4,657 3.80%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 158 $53,760,000 $340,253 $7,501 3.65%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 103 $33,015,000 $320,534 $6,060 3.53%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 113 $31,085,000 $275,088 $5,785 3.50%
ANN ARBOR, MI (FHA|USDA|VA) 69 $28,795,000 $417,319 $7,606 3.58%
Traverse City, MI (FHA|USDA|VA) 41 $16,945,000 $413,293 $6,717 3.55%
MONROE, MI (FHA|USDA|VA) 50 $13,290,000 $265,800 $5,236 3.51%
JACKSON, MI (FHA|USDA|VA) 37 $10,895,000 $294,459 $6,125 3.36%
GREEN BAY, WI (FHA|USDA|VA) 31 $8,345,000 $269,194 $3,583 3.67%
Holland, MI (FHA|USDA|VA) 33 $7,935,000 $240,455 $5,009 3.67%
Cadillac, MI (FHA|USDA|VA) 37 $7,705,000 $208,243 $4,428 3.87%
BATTLE CREEK, MI (FHA|USDA|VA) 30 $6,950,000 $231,667 $5,645 3.73%
SAGINAW, MI (FHA|USDA|VA) 20 $5,840,000 $292,000 $4,990 3.67%
FLINT, MI (FHA|USDA|VA) 27 $5,495,000 $203,519 $4,615 3.48%
Manitowoc, WI (FHA|USDA|VA) 16 $4,850,000 $303,125 $3,246 3.53%
Adrian, MI (FHA|USDA|VA) 19 $4,715,000 $248,158 $5,181 3.59%
MUSKEGON, MI (FHA|USDA|VA) 10 $4,610,000 $461,000 $8,443 3.30%
Shawano, WI (FHA|USDA|VA) 16 $4,520,000 $282,500 $3,607 4.00%
APPLETON, WI (FHA|USDA|VA) 15 $4,195,000 $279,667 $3,697 3.72%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 16 $3,900,000 $243,750 $4,235 3.41%
NILES, MI (FHA|USDA|VA) 12 $3,560,000 $296,667 $6,271 3.62%
MIDLAND, MI (FHA|USDA|VA) 13 $3,335,000 $256,538 $5,698 3.60%
Big Rapids, MI (FHA|USDA|VA) 14 $3,320,000 $237,143 $5,104 3.53%
Marinette, WI-MI (FHA|USDA|VA) 17 $2,685,000 $157,941 $2,980 3.63%
Hillsdale, MI (FHA|USDA|VA) 14 $2,390,000 $170,714 $3,338 3.51%
Alma, MI (FHA|USDA|VA) 13 $2,285,000 $175,769 $3,293 3.62%
Mount Pleasant, MI (FHA|USDA|VA) 11 $2,225,000 $202,273 $4,766 3.72%
Ludington, MI (FHA|USDA|VA) 7 $2,075,000 $296,429 $5,739 3.47%
BAY CITY, MI (FHA|USDA|VA) 6 $1,880,000 $313,333 $5,322 3.86%
Sturgis, MI (FHA|USDA|VA) 8 $1,750,000 $218,750 $4,916 3.68%
Alpena, MI (FHA|USDA|VA) 10 $1,580,000 $158,000 $4,689 3.87%
Marquette, MI (FHA|USDA|VA) 5 $1,445,000 $289,000 $5,914 3.57%
Coldwater, MI (FHA|USDA|VA) 6 $1,330,000 $221,667 $5,128 3.54%
Sault Ste. Marie, MI (FHA|USDA|VA) 8 $1,280,000 $160,000 $3,862 3.52%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $19,134 3.50%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 5 $1,015,000 $203,000 $4,327 3.70%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $705,000 $235,000 $2,916 3.83%
WAUSAU-WESTON, WI (FHA|USDA|VA) 3 $555,000 $185,000 $4,175 3.48%
Iron Mountain, MI-WI (FHA|USDA|VA) 1 $335,000 $335,000 $4,617 2.85%
Stevens Point, WI (FHA|USDA|VA) 1 $295,000 $295,000 $2,164 3.85%
Escanaba, MI (FHA|USDA|VA) 2 $150,000 $75,000 $2,509 4.00%
Houghton, MI (FHA|USDA|VA) 1 $145,000 $145,000 $3,554 3.50%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $135,000 $135,000 $2,765 3.85%
Beaver Dam, WI (FHA|USDA|VA) 1 $85,000 $85,000 $3,314 3.60%

Greenstone Farm Credit Services Flca's top markets include Detroit, Grand Rapids, Lansing, Ann Arbor, and Traverse City among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,337 $364,385,000 $272,539 $5,469 3.65%

For the 2021 period, Greenstone Farm Credit Services Flca's most frequently originated loan type of loans were Conventional, with 1,337 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 817 $246,105,000 $301,230 $6,435 3.79%
Refi 397 $98,325,000 $247,670 $4,196 3.37%
Other 91 $14,905,000 $163,791 $3,240 3.59%
Home Improvement 30 $4,560,000 $152,000 $3,090 3.48%
Cash Out Refi 2 $490,000 $245,000 $4,124 2.33%

For the 2021, Greenstone Farm Credit Services Flca's most frequently cited loan purpose of loans were Home Purchase, with 817 originations. The 2nd most popular reason of loans were Refi, with 397 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 552 $131,900,000 $238,949 $4,278 3.80%
30+ year 348 $141,500,000 $406,609 $8,953 3.81%
15 Year 154 $28,740,000 $186,623 $3,487 3.30%
Other 115 $29,685,000 $258,130 $5,797 3.41%
20 Year 107 $24,475,000 $228,738 $3,957 3.50%
10 Year 55 $7,715,000 $140,273 $3,029 2.91%
5 Year 6 $370,000 $61,667 $2,126 2.44%

For the 2021, Greenstone Farm Credit Services Flca's most frequently cited loan length of loans were 30 Year, with 552 originations. The 2nd most popular length of loans were 30+ year, with 348 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$2k-3k 313 $57,625,000 $184,105
$1k-2k 303 $45,775,000 $151,073
$3k-4k 299 $87,715,000 $293,361
$5k+ 293 $153,365,000 $523,430
$<1k 108 $15,520,000 $143,704

$4,278 of loans were Greenstone Farm Credit Services Flca's average total fees, while their most frequently occuring range of origination fees were in the $2k-3k bucket, with 313 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 857 $249,285,000 $290,881
4-5% 292 $67,540,000 $231,301
2.5-3% 152 $40,550,000 $266,776
<2.5% 31 $6,145,000 $198,226
5-6% 5 $865,000 $173,000

During 2021, Greenstone Farm Credit Services Flca's average interest rate of loans were 3.80%, while their most frequently originated rate bucket of loans were 3-4%, with 857 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 485 $138,735,000 $286,052 $5,998 3.63%
$100k-200k 395 $58,725,000 $148,671 $3,653 3.62%
$100,000 or less 214 $14,740,000 $68,879 $2,656 3.72%
$400k-600k 163 $77,595,000 $476,043 $8,662 3.70%
$600k-1MM 55 $39,545,000 $719,000 $10,513 3.63%
$1MM+ 25 $35,045,000 $1,401,800 $15,391 3.35%

2021 saw Greenstone Farm Credit Services Flca place emphasis on $200k-400k loans with 485 originations, totaling $138,735,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 348 $89,020,000 $255,805 $5,334 3.66%
$150k-250k 254 $81,550,000 $321,063 $6,200 3.61%
$75k-100k 231 $50,025,000 $216,558 $5,173 3.63%
$50k-75k 210 $36,000,000 $171,429 $4,375 3.66%
$250k+ 166 $83,390,000 $502,349 $7,302 3.59%
$50k or less 110 $18,590,000 $169,000 $4,338 3.73%

Greenstone Farm Credit Services Flca lent most frequently to those with incomes in the $100k-150k range, with 348 originations. The second most popular income band? $150k-250k, with 254 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 377 $90,615,000 $240,358 $4,920 3.59%
30-36% 311 $78,265,000 $251,656 $5,280 3.74%
<20% 175 $36,185,000 $206,771 $4,071 3.54%
39% 112 $34,330,000 $306,518 $6,699 3.68%
36% 77 $18,575,000 $241,234 $5,337 3.62%
38% 77 $21,725,000 $282,143 $5,766 3.76%
37% 59 $18,755,000 $317,881 $6,336 3.59%
40% 41 $14,345,000 $349,878 $7,365 3.75%
42% 26 $12,820,000 $493,077 $7,660 3.55%
44% 21 $11,055,000 $526,429 $8,419 3.50%
43% 20 $10,940,000 $547,000 $9,069 3.63%
41% 19 $6,885,000 $362,368 $6,158 3.62%
45% 7 $5,765,000 $823,571 $10,003 3.97%
47% 2 $290,000 $145,000 $3,296 3.63%
50-60% 2 $600,000 $300,000 $3,666 4.03%
48% 1 $85,000 $85,000 $1,050 4.30%
49% 1 $45,000 $45,000 $0 3.20%
>60% 1 $45,000 $45,000 $1,112 2.35%
46% 1 $205,000 $205,000 $3,387 2.90%

Greenstone Farm Credit Services Flca lent most frequently to those with DTI ratios of 20-30%, with 377 originations. The next most common DTI ratio? 30-36%, with 311 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 815 $222,835,000 $273,417 $5,586 3.66%
Not provided 502 $135,430,000 $269,781 $5,271 3.62%
Not applicable 10 $3,990,000 $399,000 $5,934 3.85%
Black 5 $1,105,000 $221,000 $5,289 3.60%
American Indian 2 $470,000 $235,000 $6,050 3.13%
Asian 2 $330,000 $165,000 $5,337 3.93%
Other Asian 1 $225,000 $225,000 $5,428 4.05%

Approval Rates

Total approvals of all applications
92.21%

Greenstone Farm Credit Services Flca has an average approval rate.

Pick Rate

Approvals leading to origination
71.47%

Greenstone Farm Credit Services Flca has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,337 $364,385,000 $272,539

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,337 $364,385,000 $272,539

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 97 $13,755,000 $141,804 $3,502 3.37%
40-60% 230 $47,480,000 $206,435 $4,379 3.43%
60-80% 627 $183,925,000 $293,341 $5,593 3.68%
80-100% 290 $97,270,000 $335,414 $6,765 3.82%
Under 20% 16 $1,110,000 $69,375 $2,437 3.21%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GreenSky, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%