Farmers State Bank Mortgage Rates, Fees & Info
Lincolnton, GALEI: 549300JSUQDCL7JTGH46
Tax ID: 58-0240000
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Mortgage Data
Review & Overview
Farmers State Bank is a smaller bank specializing in Refi, Home Purchase, and Home Improvement loans. Farmers State Bank has a high proportion of conventional loans. Their top two markets are Augusta and Athens .Farmers State Bank has an above average approval rate when compared to the average across all lenders.
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Originations
30Origination Dollar Volume (All Markets)
$4,710,000Top 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 |
|---|---|---|---|---|---|
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 25 | $4,085,000 | $163,400 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $280,000 | $70,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $4,710,000 | $157,000 | $0 | 0.00% |
For 2024, Farmers State Bank's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
For 2024, Farmers State Bank's most frequently cited loan purpose was Refi, with 14 originations. The 2nd most popular reason was Home Purchase, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 30 | $4,710,000 | $157,000 | $0 | 0.00% |
For 2024, Farmers State Bank's most frequently cited loan duration was Other, with 30 originations.
Loan Sizing
2024 saw Farmers State Bank place emphasis on $100,000 or less loans with 15 originations, totaling $815,000 in origination value.
Applicant Income
Farmers State Bank lent most frequently to those with incomes in the $75k-100k range, with 8 originations. The second most popular income band? $100k-150k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 30 | $4,710,000 | $157,000 | $0 | 0.00% |
Farmers State Bank lent most frequently to those with DTI ratios of Exempt%, with 30 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 28 | $4,590,000 | $163,929 | $0 | 0.00% |
| Not applicable | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Black | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.77%
Farmers State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 30 | $4,710,000 | $157,000 |