Greenstone Farm Credit Services Aca Mortgage Rates, Fees & Info
East Lansing, MILEI: 5493005GVJZOXIAH3M79
Tax ID: 38-1348208
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Mortgage Data
Review & Overview
Greenstone Farm Credit Services Aca is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Greenstone Farm Credit Services Aca has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Lansing, Grand Rapids, Kalamazoo, and Detroit among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Greenstone Farm Credit Services Aca 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
24Origination Dollar Volume (All Markets)
$2,310,000Top 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 |
|---|---|---|---|---|---|
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $2,357 | 7.50% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $1,417 | 8.05% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 4 | $360,000 | $90,000 | $898 | 7.99% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $1,587 | 8.10% |
| Outside of Metro Areas | 4 | $180,000 | $45,000 | $1,026 | 7.68% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $1,194 | 7.48% |
| Shawano, WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $414 | 9.55% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $417 | 7.20% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $554 | 8.55% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,066 | 8.85% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,803 | 6.60% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $514 | 10.45% |
| Adrian, MI (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,649 | 6.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $2,225,000 | $96,739 | $1,150 | 8.01% |
| HELOC | 1 | $85,000 | $85,000 | n/a | 6.73% |
For 2023, Greenstone Farm Credit Services Aca's most frequently originated type of loan was Conventional, with 23 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2023, Greenstone Farm Credit Services Aca's most frequently cited loan purpose was Cash Out Refi, with 7 originations. The 2nd most popular reason was Home Purchase, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 13 | $1,285,000 | $98,846 | $960 | 8.34% |
| Other | 9 | $905,000 | $100,556 | $1,345 | 7.49% |
| 5 Year | 2 | $120,000 | $60,000 | $1,605 | 7.55% |
For 2023, Greenstone Farm Credit Services Aca's most frequently cited loan duration was 10 Year, with 13 originations. The 2nd most popular length was Other, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 18 | $920,000 | $51,111 |
| $1k-2k | 5 | $1,305,000 | $261,000 |
Greenstone Farm Credit Services Aca's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 9 | $1,595,000 | $177,222 |
| Over 8% | 9 | $445,000 | $49,444 |
| 6-7% | 6 | $270,000 | $45,000 |
During 2023, Greenstone Farm Credit Services Aca's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 9 originations.
Loan Sizing
2023 saw Greenstone Farm Credit Services Aca place emphasis on $100,000 or less loans with 18 originations, totaling $820,000 in origination value.
Applicant Income
Greenstone Farm Credit Services Aca lent most frequently to those with incomes in the $250k+ range, with 8 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
Greenstone Farm Credit Services Aca lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.30%
Greenstone Farm Credit Services Aca has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.67%
Greenstone Farm Credit Services Aca has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 24 | $2,310,000 | $96,250 |