Farm Credit Services Of Western Arkansas Aca Mortgage Rates, Fees & Info
Russellville, ARLEI: 549300LAQ3M8E5I08F43
Tax ID: 71-0697350
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Mortgage Data
Review & Overview
Farm Credit Services Of Western Arkansas Aca is a smaller mortgage company specializing in Home Purchase and Refi loans. Farm Credit Services Of Western Arkansas Aca has a high proportion of conventional loans. Their top markets by origination volume include: Fayetteville, Little Rock, Fort Smith, Texarkana, and Russellville among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Farm Credit Services Of Western Arkansas Aca 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. Farm Credit Services Of Western Arkansas Aca is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.21% | 4/28/24 |
| 30 Year Conventional Refi | 7.25% | 4/28/24 |
| 15 Year Conventional Purchase | 6.95% | 4/28/24 |
| 15 Year Conventional Refi | 7.03% | 4/28/24 |
| 15 Year Cash-out Refi | 7.03% | 4/28/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Farm Credit Services Of Western Arkansas Aca Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
173Origination Dollar Volume (All Markets)
$38,125,000Top 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 |
|---|---|---|---|---|---|
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 34 | $11,560,000 | $340,000 | $6,539 | 4.07% |
| Outside of Metro Areas | 44 | $8,150,000 | $185,227 | $4,156 | 4.01% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 17 | $4,695,000 | $276,176 | $5,868 | 4.07% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 17 | $3,465,000 | $203,824 | $5,069 | 4.11% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 16 | $2,680,000 | $167,500 | $4,514 | 3.96% |
| Russellville, AR (FHA|USDA|VA) | 10 | $1,920,000 | $192,000 | $4,193 | 4.13% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 6 | $1,580,000 | $263,333 | $5,780 | 4.09% |
| Malvern, AR (FHA|USDA|VA) | 8 | $1,140,000 | $142,500 | $4,056 | 3.99% |
| Hope, AR (FHA|USDA|VA) | 8 | $870,000 | $108,750 | $2,809 | 4.04% |
| Arkadelphia, AR (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $5,410 | 4.19% |
| Camden, AR (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $4,342 | 3.83% |
| Magnolia, AR (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,484 | 4.08% |
| Mountain Home, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,867 | 3.78% |
| Harrison, AR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,435 | 4.40% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,802 | 4.30% |
Similar Lenders
We use machine learning to identify the top lenders compared against Farm Credit Services of Western Arkansas ACA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 173 | $38,125,000 | $220,376 | $4,906 | 4.04% |
For 2021, Farm Credit Services Of Western Arkansas Aca's most frequently originated type of loan was Conventional, with 173 originations.
Loan Reason
For 2021, Farm Credit Services Of Western Arkansas Aca's most frequently cited loan purpose was Home Purchase, with 119 originations. The 2nd most popular reason was Refi, with 47 originations.
Loan Duration/Length
For 2021, Farm Credit Services Of Western Arkansas Aca's most frequently cited loan duration was 30 Year, with 76 originations. The 2nd most popular length was Other, with 40 originations.
Origination Fees/Closing Costs
Farm Credit Services Of Western Arkansas Aca's average total fees were $5,050, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 51 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 87 | $19,675,000 | $226,149 |
| 3-4% | 85 | $18,325,000 | $215,588 |
| 5-6% | 1 | $125,000 | $125,000 |
During 2021, Farm Credit Services Of Western Arkansas Aca's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 4-5%, with 87 originations.
Loan Sizing
2021 saw Farm Credit Services Of Western Arkansas Aca place emphasis on $200k-400k loans with 67 originations, totaling $18,405,000 in origination value.
Applicant Income
Farm Credit Services Of Western Arkansas Aca lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $75k-100k, with 40 originations.
Applicant Debt to Income Ratio
Farm Credit Services Of Western Arkansas Aca lent most frequently to those with DTI ratios of 30-36%, with 52 originations. The next most common DTI ratio? 20-30%, with 49 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.67%
Farm Credit Services Of Western Arkansas Aca has an average approval rate.
Pick Rate
Approvals leading to origination58.38%
Farm Credit Services Of Western Arkansas Aca has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 173 | $38,125,000 | $220,376 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Franklin Credit Management Corporation | Conventional home mortgage | Struggling to pay mortgage | 6 | 54.5% |
| Franklin Credit Management Corporation | Conventional home mortgage | Trouble during payment process | 3 | 27.3% |
| Franklin Credit Management Corporation | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 9.1% |
| Franklin Credit Management Corporation | Other type of mortgage | Struggling to pay mortgage | 1 | 9.1% |