Farmers State Bank Mortgage Rates, Fees & Info
Marion, IALEI: 549300EXKS98GEONUS84
Tax ID: 42-0109590
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Farmers State Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Iowa City, Naples, North Port, and Phoenix among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers State 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.
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Originations
121Origination Dollar Volume (All Markets)
$28,025,000Top 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 |
|---|---|---|---|---|---|
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 95 | $18,005,000 | $189,526 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 12 | $3,880,000 | $323,333 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $2,655,000 | $2,655,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $1,090,000 | $181,667 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $0 | 0.00% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (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 | 121 | $28,025,000 | $231,612 | $0 | 0.00% |
For 2023, Farmers State Bank's most frequently originated type of loan was Conventional, with 121 originations.
Loan Reason
For 2023, Farmers State Bank's most frequently cited loan purpose was Home Purchase, with 78 originations. The 2nd most popular reason was Refi, with 30 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 121 | $28,025,000 | $231,612 | $0 | 0.00% |
For 2023, Farmers State Bank's most frequently cited loan duration was Other, with 121 originations.
Loan Sizing
2023 saw Farmers State Bank place emphasis on $100,000 or less loans with 37 originations, totaling $1,935,000 in origination value.
Applicant Income
Farmers State Bank lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $75k-100k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 121 | $28,025,000 | $231,612 | $0 | 0.00% |
Farmers State Bank lent most frequently to those with DTI ratios of Exempt%, with 121 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.90%
Farmers State Bank has an average approval rate.
Pick Rate
Approvals leading to origination70.25%
Farmers State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 121 | $28,025,000 | $231,612 |