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 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
18Origination Dollar Volume (All Markets)
$1,030,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
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
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
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
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 applications89.66%
Greenstone Farm Credit Services Aca has an average approval rate.
Pick Rate
Approvals leading to origination55.56%
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 |