Farmers State Bank Mortgage Rates, Fees & Info
Wathena, KSLEI: 549300BIN8FZ4Z1IX347
Tax ID: 48-0216710
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Mortgage Data
Review & Overview
Farmers State Bank is a smaller bank specializing in Refi and Home Purchase loans. Farmers State Bank has a high proportion of conventional loans. Their top (well, only) market is St. Joseph.Farmers State Bank 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
34Origination Dollar Volume (All Markets)
$2,780,000Top 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 |
|---|---|---|---|---|---|
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 32 | $2,300,000 | $71,875 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $480,000 | $240,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $2,780,000 | $81,765 | $0 | 0.00% |
For 2019, Farmers State Bank's most frequently originated type of loan was Conventional, with 34 originations.
Loan Reason
For 2019, Farmers State Bank's most frequently cited loan purpose was Refi, with 14 originations. The 2nd most popular reason was Home Purchase, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 34 | $2,780,000 | $81,765 | $0 | 0.00% |
For 2019, Farmers State Bank's most frequently cited loan duration was Other, with 34 originations.
Loan Sizing
2019 saw Farmers State Bank place emphasis on $100,000 or less loans with 26 originations, totaling $1,160,000 in origination value.
Applicant Income
Farmers State Bank lent most frequently to those with incomes in the $50k or less range, with 14 originations. The second most popular income band? $50k-75k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 34 | $2,780,000 | $81,765 | $0 | 0.00% |
Farmers State Bank lent most frequently to those with DTI ratios of Exempt%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.37%
Farmers State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.18%
Farmers State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 34 | $2,780,000 | $81,765 |