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 loans. Farmers & Merchants State Bank has a high proportion of conventional loans. Their top two markets are Des Moines and Maryville .Farmers & Merchants State Bank has an 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
56Origination Dollar Volume (All Markets)
$7,680,000Top 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) | 47 | $6,665,000 | $141,809 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $795,000 | $113,571 | $0 | 0.00% |
| Maryville, MO (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 56 | $7,680,000 | $137,143 | $0 | 0.00% |
For 2019, Farmers & Merchants State Bank's most frequently originated type of loan was Conventional, with 56 originations.
Loan Reason
For 2019, Farmers & Merchants State Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 56 | $7,680,000 | $137,143 | $0 | 0.00% |
For 2019, Farmers & Merchants State Bank's most frequently cited loan duration was Other, with 56 originations.
Loan Sizing
2019 saw Farmers & Merchants State Bank place emphasis on $100,000 or less loans with 26 originations, totaling $1,170,000 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-75k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 56 | $7,680,000 | $137,143 | $0 | 0.00% |
Farmers & Merchants State Bank lent most frequently to those with DTI ratios of Exempt%, with 56 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.33%
Farmers & Merchants State Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.71%
Farmers & Merchants State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 56 | $7,680,000 | $137,143 |