Farmers State Bank Of Hoffman Mortgage Rates, Fees & Info

Hoffman, IL

LEI: 549300KTI1WVD92EAK75

Tax ID: 37-0270010

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Mortgage Data

Review & Overview

Farmers State Bank Of Hoffman is a smaller bank specializing in Home Purchase loans. Farmers State Bank Of Hoffman has a high proportion of conventional loans. Their top (well, only) market is St. Louis.

Farmers State Bank Of Hoffman has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

30

Origination Dollar Volume (All Markets)

$2,610,000

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
Outside of Metro Areas 20 $1,760,000 $88,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 10 $850,000 $85,000 $0 0.00%
Farmers State Bank Of Hoffman's top markets include and St. Louis among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $2,610,000 $87,000 $0 0.00%

    For 2023, Farmers State Bank Of Hoffman's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 24 $2,330,000 $97,083 $0 0.00%
    Other 3 $135,000 $45,000 $0 0.00%
    Home Improvement 2 $140,000 $70,000 $0 0.00%
    Refi 1 $5,000 $5,000 $0 0.00%

    For 2023, Farmers State Bank Of Hoffman's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Other, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 30 $2,610,000 $87,000 $0 0.00%

    For 2023, Farmers State Bank Of Hoffman's most frequently cited loan duration was Other, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 21 $1,005,000 $47,857 $0 0.00%
    $100k-200k 5 $645,000 $129,000 $0 0.00%
    $200k-400k 4 $960,000 $240,000 $0 0.00%

    2023 saw Farmers State Bank Of Hoffman place emphasis on $100,000 or less loans with 21 originations, totaling $1,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 6 $410,000 $68,333 $0 0.00%
    $75k-100k 6 $560,000 $93,333 $0 0.00%
    $100k-150k 4 $620,000 $155,000 $0 0.00%
    $50k-75k 4 $170,000 $42,500 $0 0.00%
    $150k-250k 2 $160,000 $80,000 $0 0.00%
    $250k+ 2 $240,000 $120,000 $0 0.00%

    Farmers State Bank Of Hoffman lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 30 $2,610,000 $87,000 $0 0.00%

    Farmers State Bank Of Hoffman 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 22 $2,000,000 $90,909 $0 0.00%
    Not applicable 6 $450,000 $75,000 $0 0.00%
    Black 2 $160,000 $80,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.09%

    Farmers State Bank Of Hoffman has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.33%

    Farmers State Bank Of Hoffman has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 30 $2,610,000 $87,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    30 $2,610,000 $87,000