The Farmers Bank Of Willards Mortgage Rates, Fees & Info

Willards, MD

LEI: 5493005U6VKOSGHRA756

Tax ID: 52-0309468

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The Farmers Bank Of Willards is a smaller bank specializing in Home Purchase loans. The Farmers Bank Of Willards has a high proportion of conventional loans. Their top (well, only) market is Salisbury.

    The Farmers Bank Of Willards 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

    177

    Origination Dollar Volume (All Markets)

    $39,005,000

    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
    SALISBURY, MD-DE (FHA|USDA|VA) 177 $39,005,000 $220,367 $0 0.00%
    The Farmers Bank Of Willards's top markets include and Salisbury among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 177 $39,005,000 $220,367 $0 0.00%

    For 2023, The Farmers Bank Of Willards's most frequently originated type of loan was Conventional, with 177 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 119 $28,135,000 $236,429 $0 0.00%
    Refi 29 $6,385,000 $220,172 $0 0.00%
    Home Improvement 19 $3,205,000 $168,684 $0 0.00%
    Other 10 $1,280,000 $128,000 $0 0.00%

    For 2023, The Farmers Bank Of Willards's most frequently cited loan purpose was Home Purchase, with 119 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 177 $39,005,000 $220,367 $0 0.00%

    For 2023, The Farmers Bank Of Willards's most frequently cited loan duration was Other, with 177 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 61 $9,075,000 $148,770 $0 0.00%
    $200k-400k 60 $15,960,000 $266,000 $0 0.00%
    $100,000 or less 42 $2,580,000 $61,429 $0 0.00%
    $400k-600k 7 $3,215,000 $459,286 $0 0.00%
    $600k-1MM 5 $4,065,000 $813,000 $0 0.00%
    $1MM+ 2 $4,110,000 $2,055,000 $0 0.00%

    2023 saw The Farmers Bank Of Willards place emphasis on $100k-200k loans with 61 originations, totaling $9,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 36 $6,430,000 $178,611 $0 0.00%
    $100k-150k 29 $5,615,000 $193,621 $0 0.00%
    $150k-250k 28 $8,100,000 $289,286 $0 0.00%
    $250k+ 22 $10,520,000 $478,182 $0 0.00%
    $50k or less 21 $1,785,000 $85,000 $0 0.00%
    $50k-75k 20 $3,020,000 $151,000 $0 0.00%

    The Farmers Bank Of Willards lent most frequently to those with incomes in the $75k-100k range, with 36 originations. The second most popular income band? $100k-150k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 177 $39,005,000 $220,367 $0 0.00%

    The Farmers Bank Of Willards lent most frequently to those with DTI ratios of Exempt%, with 177 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 142 $29,390,000 $206,972 $0 0.00%
    Not provided 20 $4,350,000 $217,500 $0 0.00%
    Black 6 $3,820,000 $636,667 $0 0.00%
    Not applicable 9 $1,445,000 $160,556 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.75%

    The Farmers Bank Of Willards has an average approval rate.

    Pick Rate

    Approvals leading to origination
    56.50%

    The Farmers Bank Of Willards 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
    Exempt 177 $39,005,000 $220,367

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    177 $39,005,000 $220,367