Farmers Bank & Trust Company Mortgage Rates, Fees & Info
Magnolia, ARLEI: 549300GKNMX0ZXKVPE54
Tax ID: 71-0054330
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Mortgage Data
Review & Overview
Farmers Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Farmers Bank & Trust Company 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: Texarkana, Paris, Magnolia, Dallas, and Little Rock among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers Bank & Trust Company 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. Farmers Bank & Trust Company is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.73% | 12/4/23 |
| 30 Year Conventional Refi | 6.43% | 12/4/23 |
| 30 Year Cash-out Refi | 6.55% | 12/4/23 |
| 30 Year FHA Purchase | 7.34% | 12/4/23 |
| 30 Year FHA Refi | 6.45% | 12/4/23 |
| 30 Year VA Purchase | 6.42% | 12/4/23 |
| 30 Year VA Refi | 6.36% | 12/4/23 |
| 30 Year USDA Purchase | 6.57% | 12/4/23 |
| 15 Year Conventional Purchase | 6.65% | 12/4/23 |
| 15 Year Conventional Refi | 6.26% | 12/4/23 |
| 15 Year Cash-out Refi | 6.26% | 12/4/23 |
| 15 Year FHA Refi | 8.08% | 12/4/23 |
| 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. | ||
Farmers Bank & Trust Company Mortgage Calculator
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This is not an official calculator from Farmers Bank & Trust Company. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
726Origination Dollar Volume (All Markets)
$169,310,000Awards
Farmers Bank & Trust Company - 2022
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For 2022, less than of lenders were eligible for this award.
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Relative Rate
Farmers Bank & Trust Company's average 30 year fixed mortgage rate was
4.87%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.11%.
Relative Fees (Closing Costs)
Farmers Bank & Trust Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,139.
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 |
|---|---|---|---|---|---|
| TEXARKANA, TX-AR (FHA|USDA|VA) | 176 | $36,750,000 | $208,807 | $5,283 | 5.52% |
| Paris, TX (FHA|USDA|VA) | 99 | $22,845,000 | $230,758 | $4,309 | 5.09% |
| Magnolia, AR (FHA|USDA|VA) | 105 | $20,385,000 | $194,143 | $2,151 | 5.09% |
| Outside of Metro Areas | 96 | $16,730,000 | $174,271 | $2,644 | 5.53% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 24 | $13,530,000 | $563,750 | $12,192 | 4.29% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 26 | $10,110,000 | $388,846 | $3,863 | 4.96% |
| Hope, AR (FHA|USDA|VA) | 73 | $8,645,000 | $118,425 | $1,737 | 5.42% |
| Woodward, OK (FHA|USDA|VA) | 1 | $7,255,000 | $7,255,000 | $0 | 7.50% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 7 | $5,065,000 | $723,571 | $14,430 | 5.56% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $4,545,000 | $1,515,000 | $13,859 | 4.53% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 11 | $4,245,000 | $385,909 | $2,846 | 5.33% |
| Camden, AR (FHA|USDA|VA) | 36 | $4,100,000 | $113,889 | $1,859 | 5.40% |
| El Dorado, AR (FHA|USDA|VA) | 11 | $2,375,000 | $215,909 | $2,027 | 4.90% |
| Malvern, AR (FHA|USDA|VA) | 18 | $2,110,000 | $117,222 | $2,060 | 5.64% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 5 | $1,455,000 | $291,000 | $2,012 | 5.25% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $10,719 | 4.81% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $0 | 7.00% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $3,985 | 3.79% |
| LONGVIEW, TX (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $4,907 | 4.73% |
| Arkadelphia, AR (FHA|USDA|VA) | 7 | $755,000 | $107,857 | $1,575 | 4.73% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $7,482 | 4.88% |
| El Campo, TX (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $6,700 | 4.81% |
| Minden, LA (FHA|USDA|VA) | 5 | $505,000 | $101,000 | $3,108 | 4.75% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,865 | 4.25% |
| Harrison, AR (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 6.25% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,843 | 3.88% |
| Durant, OK (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $1,991 | 4.50% |
| Mount Pleasant, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,480 | 2.99% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,562 | 4.95% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,866 | 3.38% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.75% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 5.25% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.50% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,468 | 4.75% |
| Russellville, AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Farmers Bank & Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2022, Farmers Bank & Trust Company's most frequently originated type of loan was Conventional, with 685 originations. Their 2nd most popular type was FHA, with 24 originations.
Loan Reason
For 2022, Farmers Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 481 originations. The 2nd most popular reason was Refi, with 169 originations.
Loan Duration/Length
For 2022, Farmers Bank & Trust Company's most frequently cited loan duration was Other, with 216 originations. The 2nd most popular length was 5 Year, with 156 originations.
Origination Fees/Closing Costs
Farmers Bank & Trust Company's average total fees were $7,139, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 356 originations.
Interest Rates
During 2022, Farmers Bank & Trust Company's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 4-5%, with 318 originations.
Loan Sizing
2022 saw Farmers Bank & Trust Company place emphasis on $100,000 or less loans with 242 originations, totaling $14,200,000 in origination value.
Applicant Income
Farmers Bank & Trust Company lent most frequently to those with incomes in the $100k-150k range, with 145 originations. The second most popular income band? $50k-75k, with 114 originations.
Applicant Debt to Income Ratio
Farmers Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 137 originations. The next most common DTI ratio? 30-36%, with 87 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.01%
Farmers Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination89.81%
Farmers Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 726 | $169,310,000 | $233,209 |