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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Texarkana, Dallas, Paris, Rome, and Magnolia among others. We have data for 24 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 an above average pick rate when compared to similar lenders. Farmers Bank & Trust Company 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.03% | 5/25/25 |
| 30 Year Conventional Refi | 6.97% | 5/25/25 |
| 30 Year Cash-out Refi | 7.50% | 5/25/25 |
| 30 Year FHA Purchase | 7.34% | 5/25/25 |
| 30 Year FHA Refi | 7.48% | 5/25/25 |
| 30 Year VA Purchase | 7.02% | 5/25/25 |
| 30 Year VA Refi | 6.67% | 5/25/25 |
| 30 Year USDA Purchase | 7.06% | 5/25/25 |
| 15 Year Conventional Purchase | 7.70% | 5/25/25 |
| 15 Year Conventional Refi | 8.63% | 5/25/25 |
| 15 Year Cash-out Refi | 8.63% | 5/25/25 |
| 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
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
457Origination Dollar Volume (All Markets)
$121,015,000Awards
Farmers Bank & Trust Company - 2024
Farmers Bank & Trust Company is a 2024 , due to their low .
For 2024, 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
6.81%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.26%.
Relative Fees (Closing Costs)
Farmers Bank & Trust Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,477.
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 $8,356.
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) | 107 | $26,805,000 | $250,514 | $5,217 | 8.02% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 29 | $18,585,000 | $640,862 | $8,905 | 7.32% |
| Paris, TX (FHA|USDA|VA) | 60 | $15,090,000 | $251,500 | $4,833 | 8.27% |
| ROME, GA (FHA|USDA|VA) | 1 | $14,975,000 | $14,975,000 | $0 | 7.25% |
| Outside of Metro Areas | 66 | $11,240,000 | $170,303 | $3,476 | 8.23% |
| Magnolia, AR (FHA|USDA|VA) | 68 | $8,900,000 | $130,882 | $2,293 | 8.59% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $5,505,000 | $5,505,000 | $0 | 8.50% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 10 | $4,240,000 | $424,000 | $5,948 | 8.30% |
| Camden, AR (FHA|USDA|VA) | 30 | $3,400,000 | $113,333 | $1,835 | 8.88% |
| Hope, AR (FHA|USDA|VA) | 38 | $3,060,000 | $80,526 | $1,737 | 8.70% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 6 | $2,210,000 | $368,333 | $2,307 | 8.67% |
| Malvern, AR (FHA|USDA|VA) | 12 | $1,850,000 | $154,167 | $3,660 | 7.80% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 5 | $1,095,000 | $219,000 | $2,688 | 8.00% |
| El Dorado, AR (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $2,582 | 8.23% |
| Minden, LA (FHA|USDA|VA) | 8 | $620,000 | $77,500 | $4,286 | 8.45% |
| Key West, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 8.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,291 | 6.38% |
| Bonham, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $17,267 | 6.38% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $13,942 | 6.50% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.50% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $3,821 | 7.75% |
| Arkadelphia, AR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 9.50% |
| Harrison, AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.50% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 8.95% |
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 2024, Farmers Bank & Trust Company's most frequently originated type of loan was Conventional, with 409 originations. Their 2nd most popular type was FHA, with 37 originations.
Loan Reason
For 2024, Farmers Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 288 originations. The 2nd most popular reason was Refi, with 78 originations.
Loan Duration/Length
For 2024, Farmers Bank & Trust Company's most frequently cited loan duration was Other, with 169 originations. The 2nd most popular length was 30 Year, with 129 originations.
Origination Fees/Closing Costs
Farmers Bank & Trust Company's average total fees were $6,477, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 232 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 313 | $63,995,000 | $204,457 |
| 6-7% | 79 | $20,455,000 | $258,924 |
| 7-8% | 48 | $31,100,000 | $647,917 |
| 5-6% | 17 | $5,465,000 | $321,471 |
During 2024, Farmers Bank & Trust Company's average interest rate for loans was 6.81%, while their most frequently originated rate bucket for loans was Over 8%, with 313 originations.
Loan Sizing
2024 saw Farmers Bank & Trust Company place emphasis on $100,000 or less loans with 176 originations, totaling $10,350,000 in origination value.
Applicant Income
Farmers Bank & Trust Company lent most frequently to those with incomes in the $50k-75k range, with 84 originations. The second most popular income band? $100k-150k, with 80 originations.
Applicant Debt to Income Ratio
Farmers Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.18%
Farmers Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination92.34%
Farmers Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 457 | $121,015,000 | $264,803 |