The Farmers Bank Mortgage Rates, Fees & Info
Portland, TNLEI: 549300C4CKL0HRXJ3085
Tax ID: 62-0197640
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
The Farmers Bank is a smaller bank specializing in loans. The Farmers 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Nashville, Daphne, Crestview, Clarksville, and Bowling Green among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)The Farmers 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. The Farmers Bank is typically a low 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.54% | 4/1/23 |
| 30 Year Conventional Refi | 6.68% | 4/1/23 |
| 30 Year Cash-out Refi | 6.68% | 4/1/23 |
| 30 Year FHA Purchase | 6.95% | 4/1/23 |
| 30 Year USDA Purchase | 6.44% | 4/1/23 |
| 15 Year Conventional Purchase | 5.98% | 4/1/23 |
| 15 Year Conventional Refi | 6.15% | 4/1/23 |
| 15 Year Cash-out Refi | 6.15% | 4/1/23 |
| 15 Year FHA Purchase | 7.32% | 4/1/23 |
| 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. | ||
The Farmers Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from The Farmers Bank. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
460Origination Dollar Volume (All Markets)
$152,940,000Awards
The Farmers Bank - 2022
The Farmers Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
Work for The Farmers Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
The Farmers Bank's average 30 year fixed mortgage rate was
4.52%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.24%.
Relative Fees (Closing Costs)
The Farmers Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,433.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 398 | $128,800,000 | $323,618 | $3,780 | 5.78% |
| Outside of Metro Areas | 34 | $9,850,000 | $289,706 | $3,266 | 5.72% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 4 | $4,370,000 | $1,092,500 | $0 | 5.56% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $4,060,000 | $2,030,000 | $0 | 5.13% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 6 | $1,350,000 | $225,000 | $6,685 | 6.71% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $4,081 | 4.59% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $835,000 | $835,000 | $0 | 5.00% |
| Cookeville, TN (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $2,728 | 6.21% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,832 | 3.00% |
| Central City, KY (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,556 | 4.56% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 4.50% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 6.00% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,368 | 7.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.50% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Farmers Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 420
Similarity Rank: 490
Similarity Rank: 833
Similarity Rank: 1104
Similarity Rank: 1260
Similarity Rank: 2000
Similarity Rank: 2010
Similarity Rank: 2295
Similarity Rank: 2680
Similarity Rank: 3080
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 446 | $149,330,000 | $334,821 | $3,530 | 5.82% |
| FHA | 8 | $2,350,000 | $293,750 | $8,663 | 4.45% |
| USDA | 6 | $1,260,000 | $210,000 | $5,712 | 3.52% |
For 2022, The Farmers Bank's most frequently originated type of loan was Conventional, with 446 originations. Their 2nd most popular type was FHA, with 8 originations.
Loan Reason
For 2022, The Farmers Bank's most frequently cited loan purpose was Home Purchase, with 280 originations. The 2nd most popular reason was Refi, with 116 originations.
Loan Duration/Length
For 2022, The Farmers Bank's most frequently cited loan duration was 30 Year, with 134 originations. The 2nd most popular length was 5 Year, with 105 originations.
Origination Fees/Closing Costs
The Farmers Bank's average total fees were $4,433, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 120 originations.
Interest Rates
During 2022, The Farmers Bank's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 5-6%, with 143 originations.
Loan Sizing
2022 saw The Farmers Bank place emphasis on $200k-400k loans with 183 originations, totaling $51,465,000 in origination value.
Applicant Income
The Farmers Bank lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k-75k, with 65 originations.
Applicant Debt to Income Ratio
The Farmers Bank lent most frequently to those with DTI ratios of 20-30%, with 43 originations. The next most common DTI ratio? 30-36%, with 36 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.11%
The Farmers Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.96%
The Farmers Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 460 | $152,940,000 | $332,478 |