Farmers & Stockmens Bank Mortgage Rates, Fees & Info

Clayton, NM

LEI: 549300BMHSUCH6UGU556

Tax ID: 85-0036360

Latest/2024 | 2023 Data | 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
  • Similar Lenders
  • 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

    Farmers & Stockmens Bank is a smaller bank specializing in Home Purchase loans. Farmers & Stockmens Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Colorado Springs, Denver, Pueblo, Philadelphia, and Washington among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers & Stockmens 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. Farmers & Stockmens Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    182

    Origination Dollar Volume (All Markets)

    $73,160,000

    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
    COLORADO SPRINGS, CO (FHA|USDA|VA) 111 $49,705,000 $447,793 $10,125 4.55%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 23 $9,815,000 $426,739 $6,406 5.05%
    PUEBLO, CO (FHA|USDA|VA) 15 $4,485,000 $299,000 $12,213 4.84%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $1,310,000 $655,000 $32,618 5.13%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $755,000 $755,000 $5,129 5.00%
    Outside of Metro Areas 10 $730,000 $73,000 $2,816 6.45%
    Bozeman, MT (FHA|USDA|VA) 1 $655,000 $655,000 $12,373 4.88%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $555,000 $555,000 $4,523 4.75%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $550,000 $275,000 $7,704 5.00%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $505,000 $505,000 $4,689 3.88%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $465,000 $465,000 $4,173 5.63%
    GREELEY, CO (FHA|USDA|VA) 1 $425,000 $425,000 $2,014 4.75%
    Durango, CO (FHA|USDA|VA) 1 $395,000 $395,000 $5,494 5.50%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $375,000 $375,000 $11,946 4.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $370,000 $185,000 $0 5.75%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $325,000 $325,000 $2,898 3.63%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $305,000 $305,000 $13,459 4.25%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $305,000 $305,000 $8,677 5.13%
    GRANTS PASS, OR (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.75%
    Las Vegas, NM (FHA|USDA|VA) 2 $240,000 $120,000 $2,301 7.63%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $1,775 4.13%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $205,000 $205,000 $5,668 3.75%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.00%
    Farmers & Stockmens Bank's top markets include Colorado Springs, Denver, Pueblo, Philadelphia, and Washington among others.

    Their top states include:
  • Colorado (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Farmers & Stockmens Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Red Rocks Credit Union
    Similarity Rank: 384
    Credit Union of Denver
    Similarity Rank: 450
    DENVER COMMUNITY
    Similarity Rank: 651
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 714
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1020
    ON TAP
    Similarity Rank: 1056
    ROCKY MOUNTAIN LAW ENFORCEMENT FCU
    Similarity Rank: 1624
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1755
    PARTNER COLORADO
    Similarity Rank: 2004
    DHA FINANCIAL, LLC
    Similarity Rank: 2052

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 102 $36,150,000 $354,412 $4,855 5.04%
    VA 74 $35,060,000 $473,784 $13,842 4.48%
    FHA 6 $1,950,000 $325,000 $10,264 4.75%

    For 2022, Farmers & Stockmens Bank's most frequently originated type of loan was Conventional, with 102 originations. Their 2nd most popular type was VA, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 145 $58,955,000 $406,586 $9,786 4.92%
    Cash Out Refi 26 $8,980,000 $345,385 $6,588 4.26%
    Refi 10 $5,070,000 $507,000 $11,166 4.51%
    Home Improvement 1 $155,000 $155,000 $3,930 5.75%

    For 2022, Farmers & Stockmens Bank's most frequently cited loan purpose was Home Purchase, with 145 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 170 $70,660,000 $415,647 $9,662 4.73%
    15 Year 7 $1,905,000 $272,143 $2,228 5.50%
    20 Year 4 $560,000 $140,000 $4,634 6.22%
    Other 1 $35,000 $35,000 $0 7.50%

    For 2022, Farmers & Stockmens Bank's most frequently cited loan duration was 30 Year, with 170 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 82 $33,220,000 $405,122
    $5k+ 31 $17,485,000 $564,032
    $1k-2k 20 $7,200,000 $360,000
    $2k-3k 15 $5,955,000 $397,000
    $3k-4k 6 $2,340,000 $390,000
    $4k-5k 4 $1,520,000 $380,000

    Farmers & Stockmens Bank's average total fees were $9,662, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 82 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 69 $30,525,000 $442,391
    5-6% 46 $18,460,000 $401,304
    3-4% 33 $12,415,000 $376,212
    6-7% 18 $6,360,000 $353,333
    <2.5% 7 $3,715,000 $530,714
    2.5-3% 4 $1,420,000 $355,000
    7-8% 4 $200,000 $50,000
    Over 8% 1 $65,000 $65,000

    During 2022, Farmers & Stockmens Bank's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 4-5%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 75 $35,765,000 $476,867 $10,809 4.55%
    $200k-400k 59 $18,465,000 $312,966 $6,770 4.77%
    $100k-200k 18 $2,860,000 $158,889 $3,277 4.90%
    $600k-1MM 17 $11,385,000 $669,706 $12,320 4.63%
    $100,000 or less 10 $600,000 $60,000 $2,131 6.96%
    $1MM+ 3 $4,085,000 $1,361,667 $31,750 5.04%

    2022 saw Farmers & Stockmens Bank place emphasis on $400k-600k loans with 75 originations, totaling $35,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 43 $18,925,000 $440,116 $9,810 4.57%
    $150k-250k 42 $20,020,000 $476,667 $11,094 4.78%
    $75k-100k 40 $13,970,000 $349,250 $9,107 4.74%
    $50k-75k 31 $10,405,000 $335,645 $9,045 4.89%
    $250k+ 14 $8,140,000 $581,429 $8,242 5.21%
    $50k or less 8 $1,470,000 $183,750 $2,621 4.50%

    Farmers & Stockmens Bank lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $150k-250k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 28 $10,060,000 $359,286 $6,992 4.81%
    50-60% 24 $10,860,000 $452,500 $14,870 5.04%
    20-30% 23 $11,175,000 $485,870 $7,116 4.56%
    42% 11 $3,555,000 $323,182 $7,381 5.01%
    39% 10 $4,030,000 $403,000 $6,511 4.01%
    49% 10 $3,330,000 $333,000 $8,817 5.49%
    <20% 9 $3,465,000 $385,000 $8,234 4.24%
    47% 9 $4,785,000 $531,667 $13,216 4.81%
    40% 8 $2,640,000 $330,000 $3,358 5.36%
    38% 8 $2,380,000 $297,500 $7,182 5.31%
    43% 7 $2,765,000 $395,000 $7,515 5.11%
    37% 6 $2,190,000 $365,000 $6,912 4.94%
    45% 6 $2,350,000 $391,667 $11,900 4.38%
    46% 5 $1,645,000 $329,000 $5,546 4.65%
    44% 5 $2,535,000 $507,000 $13,264 3.38%
    >60% 3 $1,515,000 $505,000 $8,560 4.96%
    36% 3 $1,595,000 $531,667 $14,490 4.96%
    41% 3 $1,385,000 $461,667 $16,275 3.33%
    48% 2 $810,000 $405,000 $9,021 5.25%

    Farmers & Stockmens Bank lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 50-60%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 132 $55,310,000 $419,015 $9,497 4.68%
    Not provided 22 $8,360,000 $380,000 $8,703 4.95%
    Asian 11 $3,865,000 $351,364 $6,638 4.82%
    Black 7 $3,095,000 $442,143 $12,122 4.82%
    American Indian 7 $2,385,000 $340,714 $7,449 5.71%
    Not applicable 3 $145,000 $48,333 $0 7.17%

    Approval Rates

    Total approvals of all applications
    97.94%

    Farmers & Stockmens 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 origination
    73.08%

    Farmers & Stockmens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 182 $73,160,000 $401,978

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    182 $73,160,000 $401,978

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $480,000 $120,000 $2,270 5.06%
    40-60% 21 $6,335,000 $301,667 $4,003 4.41%
    60-80% 56 $22,120,000 $395,000 $5,978 5.11%
    80-100% 65 $26,955,000 $414,692 $8,309 4.91%
    Over 100% 36 $17,270,000 $479,722 $17,633 4.35%