Farmers & Merchants State Bank Mortgage Rates, Fees & Info
WINTERSET, IALEI: 549300DUVDQ4UATCVD64
Tax ID: 42-0245516
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Mortgage Data
Review & Overview
Farmers & Merchants State Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers & Merchants State Bank has a high proportion of conventional loans. Their top two markets are Des Moines and Ames .Farmers & Merchants 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
65Origination Dollar Volume (All Markets)
$9,275,000Top 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 |
|---|---|---|---|---|---|
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 44 | $7,550,000 | $171,591 | $0 | 0.00% |
| Outside of Metro Areas | 20 | $1,410,000 | $70,500 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $9,275,000 | $142,692 | $0 | 0.00% |
For 2023, Farmers & Merchants State Bank's most frequently originated type of loan was Conventional, with 65 originations.
Loan Reason
For 2023, Farmers & Merchants State Bank's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Refi, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 65 | $9,275,000 | $142,692 | $0 | 0.00% |
For 2023, Farmers & Merchants State Bank's most frequently cited loan duration was Other, with 65 originations.
Loan Sizing
2023 saw Farmers & Merchants State Bank place emphasis on $100,000 or less loans with 32 originations, totaling $1,620,000 in origination value.
Applicant Income
Farmers & Merchants State Bank lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $50k or less, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 65 | $9,275,000 | $142,692 | $0 | 0.00% |
Farmers & Merchants State Bank lent most frequently to those with DTI ratios of Exempt%, with 65 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 54 | $8,150,000 | $150,926 | $0 | 0.00% |
| Not applicable | 11 | $1,125,000 | $102,273 | $0 | 0.00% |
Approval Rates
Total approvals of all applications93.24%
Farmers & Merchants State Bank has an average approval rate.
Pick Rate
Approvals leading to origination93.85%
Farmers & Merchants State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 65 | $9,275,000 | $142,692 |