The Farmers State Bank Mortgage Rates, Fees & Info
Holton, KSLEI: 549300BP2WBHKWIZA420
Tax ID: 48-0216420
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Mortgage Data
Review & Overview
The Farmers State Bank is a smaller bank specializing in Home Purchase and Refi loans. The Farmers State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Topeka, Manhattan, and St. Joseph among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)The Farmers State Bank has a below 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
27Origination Dollar Volume (All Markets)
$2,545,000Top 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 |
|---|---|---|---|---|---|
| TOPEKA, KS (FHA|USDA|VA) | 17 | $1,765,000 | $103,824 | $0 | 0.00% |
| MANHATTAN, KS (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $195,000 | $39,000 | $0 | 0.00% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 27 | $2,545,000 | $94,259 | $0 | 0.00% |
For 2019, The Farmers State Bank's most frequently originated type of loan was Conventional, with 27 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 20 | $1,810,000 | $90,500 | $0 | 0.00% |
| Refi | 7 | $735,000 | $105,000 | $0 | 0.00% |
For 2019, The Farmers State Bank's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 27 | $2,545,000 | $94,259 | $0 | 0.00% |
For 2019, The Farmers State Bank's most frequently cited loan duration was Other, with 27 originations.
Loan Sizing
2019 saw The Farmers State Bank place emphasis on $100,000 or less loans with 16 originations, totaling $570,000 in origination value.
Applicant Income
The Farmers State Bank lent most frequently to those with incomes in the $75k-100k range, with 7 originations. The second most popular income band? $50k-75k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 27 | $2,545,000 | $94,259 | $0 | 0.00% |
The Farmers State Bank lent most frequently to those with DTI ratios of Exempt%, with 27 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 24 | $2,290,000 | $95,417 | $0 | 0.00% |
| Not applicable | 3 | $255,000 | $85,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications68.18%
The Farmers State Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination88.89%
The Farmers State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 27 | $2,545,000 | $94,259 |