Farmers State Bank Of Hoffman Mortgage Rates, Fees & Info
Hoffman, ILLEI: 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
30Origination Dollar Volume (All Markets)
$2,610,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
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
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 applications76.09%
Farmers State Bank Of Hoffman has a below average approval rate.
Pick Rate
Approvals leading to origination83.33%
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 |