Farmers & Merchants State Bank Mortgage Rates, Fees & Info
Waterloo, WILEI: 5493006S21NZTF9Y1L04
Tax ID: 39-0273610
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Farmers & Merchants State Bank is a smaller bank specializing in Home Purchase loans. Farmers & Merchants State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Watertown, Milwaukee, Green Bay, and Beaver Dam among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers & Merchants State Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.42% | 12/16/24 |
| 30 Year Conventional Refi | 6.43% | 12/16/24 |
| 30 Year Cash-out Refi | 6.19% | 12/16/24 |
| 15 Year Conventional Purchase | 6.16% | 12/16/24 |
| 15 Year Conventional Refi | 5.66% | 12/16/24 |
| 15 Year Cash-out Refi | 5.66% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Farmers & Merchants State Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
71Origination Dollar Volume (All Markets)
$31,805,000Top 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 |
|---|---|---|---|---|---|
| MADISON, WI (FHA|USDA|VA) | 31 | $16,435,000 | $530,161 | $0 | 0.00% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 21 | $4,555,000 | $216,905 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $4,455,000 | $636,429 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 5 | $3,115,000 | $623,000 | $0 | 0.00% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $2,025,000 | $2,025,000 | $0 | 0.00% |
| Beaver Dam, WI (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $0 | 0.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| RACINE, WI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Farmers & Merchants State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 44
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 71 | $31,805,000 | $447,958 | $0 | 0.00% |
For 2023, Farmers & Merchants State Bank's most frequently originated type of loan was Conventional, with 71 originations.
Loan Reason
For 2023, Farmers & Merchants State Bank's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 71 | $31,805,000 | $447,958 | $0 | 0.00% |
For 2023, Farmers & Merchants State Bank's most frequently cited loan duration was Other, with 71 originations.
Loan Sizing
2023 saw Farmers & Merchants State Bank place emphasis on $200k-400k loans with 22 originations, totaling $6,420,000 in origination value.
Applicant Income
Farmers & Merchants State Bank lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 71 | $31,805,000 | $447,958 | $0 | 0.00% |
Farmers & Merchants State Bank lent most frequently to those with DTI ratios of Exempt%, with 71 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.83%
Farmers & Merchants State Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.06%
Farmers & Merchants State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 71 | $31,805,000 | $447,958 |