Greenstone Farm Credit Services Aca Mortgage Rates, Fees & Info

East Lansing, MI

LEI: 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 Other, Home Improvement, and Home Purchase loans. Greenstone Farm Credit Services Aca has a high proportion of conventional loans. Their top markets by origination volume include: Ann Arbor, Traverse City, Lansing, Battle Creek, and Detroit among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Greenstone Farm Credit Services Aca 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

18

Origination Dollar Volume (All Markets)

$1,030,000

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
ANN ARBOR, MI (FHA|USDA|VA) 2 $310,000 $155,000 $3,768 5.10%
Traverse City, MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,095 5.35%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $145,000 $145,000 $560 6.25%
Outside of Metro Areas 5 $95,000 $19,000 $567 6.32%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $75,000 $75,000 $1,312 4.85%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $70,000 $35,000 $396 5.83%
APPLETON, WI (FHA|USDA|VA) 2 $60,000 $30,000 $318 7.60%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $45,000 $45,000 $446 5.60%
GREEN BAY, WI (FHA|USDA|VA) 1 $25,000 $25,000 $376 8.00%
Adrian, MI (FHA|USDA|VA) 1 $25,000 $25,000 $410 5.00%
Holland, MI (FHA|USDA|VA) 1 $15,000 $15,000 $521 5.00%
Greenstone Farm Credit Services Aca's top markets include Ann Arbor, Traverse City, Lansing, Battle Creek, and Detroit among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 18 $1,030,000 $57,222 $973 6.04%

    For 2018, Greenstone Farm Credit Services Aca's most frequently originated type of loan was Conventional, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 10 $470,000 $47,000 $834 5.74%
    Home Improvement 6 $270,000 $45,000 $339 6.93%
    Home Purchase 1 $265,000 $265,000 $6,727 4.75%
    Refi 1 $25,000 $25,000 $410 5.00%

    For 2018, Greenstone Farm Credit Services Aca's most frequently cited loan purpose was Other, with 10 originations. The 2nd most popular reason was Home Improvement, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 11 $575,000 $52,273 $1,123 6.08%
    10 Year 5 $295,000 $59,000 $849 5.88%
    1 Year 1 $145,000 $145,000 $560 6.25%
    5 Year 1 $15,000 $15,000 $356 6.15%

    For 2018, Greenstone Farm Credit Services Aca's most frequently cited loan duration was Other, with 11 originations. The 2nd most popular length was 10 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 16 $600,000 $37,500
    $2k-3k 1 $165,000 $165,000
    $4k-5k 1 $265,000 $265,000

    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 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 5 $395,000 $79,000
    5-6% 5 $335,000 $67,000
    6-7% 5 $215,000 $43,000
    7-8% 3 $85,000 $28,333

    During 2018, Greenstone Farm Credit Services Aca's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 5 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $455,000 $30,333 $542 6.16%
    $100k-200k 2 $310,000 $155,000 $1,328 5.80%
    $200k-400k 1 $265,000 $265,000 $6,727 4.75%

    2018 saw Greenstone Farm Credit Services Aca place emphasis on $100,000 or less loans with 15 originations, totaling $455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 6 $130,000 $21,667 $335 6.28%
    $100k-150k 4 $350,000 $87,500 $2,018 6.05%
    $250k+ 3 $265,000 $88,333 $1,272 5.07%
    $150k-250k 2 $160,000 $80,000 $884 5.63%
    $50k or less 2 $70,000 $35,000 $708 7.43%
    $75k-100k 1 $55,000 $55,000 $435 5.50%

    Greenstone Farm Credit Services Aca lent most frequently to those with incomes in the $50k-75k range, with 6 originations. The second most popular income band? $100k-150k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 7 $205,000 $29,286 $495 5.89%
    30-36% 4 $120,000 $30,000 $572 6.45%
    47% 2 $410,000 $205,000 $3,644 5.50%
    44% 1 $25,000 $25,000 $376 8.00%
    41% 1 $15,000 $15,000 $521 5.00%
    36% 1 $35,000 $35,000 $1,045 6.85%
    42% 1 $165,000 $165,000 $2,095 5.35%

    Greenstone Farm Credit Services Aca lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 15 $795,000 $53,000 $973 5.98%
    Not provided 3 $235,000 $78,333 $972 6.32%

    Approval Rates

    Total approvals of all applications
    89.66%

    Greenstone Farm Credit Services Aca has an average approval rate.

    Pick Rate

    Approvals leading to origination
    55.56%

    Greenstone Farm Credit Services Aca 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
    NA 18 $1,030,000 $57,222

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 18 $1,030,000 $57,222

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $200,000 $100,000 $498 5.88%
    40-60% 1 $25,000 $25,000 $265 7.20%
    60-80% 4 $350,000 $87,500 $2,337 6.15%
    80-100% 5 $135,000 $27,000 $472 5.95%
    Under 20% 5 $275,000 $55,000 $820 5.96%