The Farmers Bank Mortgage Rates, Fees & Info

Nicholasville, KY

LEI: 549300H5B5USE8BS1V31

Tax ID: 61-0188940

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The Farmers Bank is a smaller bank specializing in Home Purchase and Refi loans. The Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Richmond, Frankfort, Danville, and London among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Farmers 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.

    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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    Originations

    151

    Origination Dollar Volume (All Markets)

    $38,275,000

    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
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 115 $30,935,000 $269,000 $0 0.00%
    Outside of Metro Areas 18 $3,370,000 $187,222 $0 0.00%
    Richmond-Berea, KY (FHA|USDA|VA) 3 $1,795,000 $598,333 $0 0.00%
    Frankfort, KY (FHA|USDA|VA) 6 $1,030,000 $171,667 $0 0.00%
    Danville, KY (FHA|USDA|VA) 7 $825,000 $117,857 $0 0.00%
    London, KY (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    The Farmers Bank's top markets include Lexington, Richmond, Frankfort, Danville, and London among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 151 $38,275,000 $253,477 $0 0.00%

    For 2022, The Farmers Bank's most frequently originated type of loan was Conventional, with 151 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 87 $22,755,000 $261,552 $0 0.00%
    Refi 51 $13,725,000 $269,118 $0 0.00%
    Home Improvement 5 $505,000 $101,000 $0 0.00%
    Other 5 $745,000 $149,000 $0 0.00%
    Cash Out Refi 3 $545,000 $181,667 $0 0.00%

    For 2022, The Farmers Bank's most frequently cited loan purpose was Home Purchase, with 87 originations. The 2nd most popular reason was Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 151 $38,275,000 $253,477 $0 0.00%

    For 2022, The Farmers Bank's most frequently cited loan duration was Other, with 151 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 56 $8,340,000 $148,929 $0 0.00%
    $200k-400k 39 $11,265,000 $288,846 $0 0.00%
    $100,000 or less 32 $2,240,000 $70,000 $0 0.00%
    $400k-600k 10 $4,620,000 $462,000 $0 0.00%
    $600k-1MM 10 $7,460,000 $746,000 $0 0.00%
    $1MM+ 4 $4,350,000 $1,087,500 $0 0.00%

    2022 saw The Farmers Bank place emphasis on $100k-200k loans with 56 originations, totaling $8,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 20 $3,160,000 $158,000 $0 0.00%
    $50k or less 20 $2,570,000 $128,500 $0 0.00%
    $150k-250k 19 $7,865,000 $413,947 $0 0.00%
    $75k-100k 19 $4,195,000 $220,789 $0 0.00%
    $100k-150k 14 $3,050,000 $217,857 $0 0.00%
    $250k+ 7 $3,535,000 $505,000 $0 0.00%

    The Farmers Bank lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $50k or less, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 151 $38,275,000 $253,477 $0 0.00%

    The Farmers Bank lent most frequently to those with DTI ratios of Exempt%, with 151 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 96 $24,010,000 $250,104 $0 0.00%
    Not applicable 52 $13,900,000 $267,308 $0 0.00%
    Asian 2 $310,000 $155,000 $0 0.00%
    Black 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.92%

    The Farmers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.74%

    The Farmers Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 151 $38,275,000 $253,477

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    151 $38,275,000 $253,477