Bank Of Farmington Mortgage Rates, Fees & Info

Farmington, IL

LEI: 549300HECWJMBMVQ1V28

Tax ID: 37-0165440

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

Jump to:

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

    Bank Of Farmington is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Farmington has a high proportion of conventional loans. Their top markets by origination volume include: Peoria, Galesburg, and Davenport among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Farmington 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    54

    Origination Dollar Volume (All Markets)

    $6,110,000

    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
    PEORIA, IL (FHA|USDA|VA) 49 $5,385,000 $109,898 $0 0.00%
    Galesburg, IL (FHA|USDA|VA) 3 $535,000 $178,333 $0 0.00%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Outside of Metro Areas 1 $25,000 $25,000 $0 0.00%
    Bank Of Farmington's top markets include Peoria, Galesburg, and Davenport among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $6,110,000 $113,148 $0 0.00%

    For 2023, Bank Of Farmington's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 22 $3,100,000 $140,909 $0 0.00%
    Home Purchase 20 $2,450,000 $122,500 $0 0.00%
    Home Improvement 7 $195,000 $27,857 $0 0.00%
    Other 4 $280,000 $70,000 $0 0.00%
    Cash Out Refi 1 $85,000 $85,000 $0 0.00%

    For 2023, Bank Of Farmington's most frequently cited loan purpose was Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 54 $6,110,000 $113,148 $0 0.00%

    For 2023, Bank Of Farmington's most frequently cited loan duration was Other, with 54 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,355,000 $46,724 $0 0.00%
    $100k-200k 19 $2,635,000 $138,684 $0 0.00%
    $200k-400k 4 $1,160,000 $290,000 $0 0.00%
    $400k-600k 2 $960,000 $480,000 $0 0.00%

    2023 saw Bank Of Farmington place emphasis on $100,000 or less loans with 29 originations, totaling $1,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $1,525,000 $117,308 $0 0.00%
    $50k-75k 11 $665,000 $60,455 $0 0.00%
    $75k-100k 9 $1,045,000 $116,111 $0 0.00%
    $50k or less 6 $280,000 $46,667 $0 0.00%
    $250k+ 5 $1,385,000 $277,000 $0 0.00%
    $150k-250k 4 $830,000 $207,500 $0 0.00%

    Bank Of Farmington lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 54 $6,110,000 $113,148 $0 0.00%

    Bank Of Farmington lent most frequently to those with DTI ratios of Exempt%, with 54 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 49 $5,755,000 $117,449 $0 0.00%
    Not applicable 5 $355,000 $71,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.19%

    Bank Of Farmington has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.74%

    Bank Of Farmington has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 54 $6,110,000 $113,148

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    54 $6,110,000 $113,148