Farmers Bank Mortgage Rates, Fees & Info

Ault, CO

LEI: 549300MIWF0T5VLO6M11

Tax ID: 01-0569543

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Farmers Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers Bank has a high proportion of conventional loans. Their top two markets are Fort Collins and Greeley .

    Farmers Bank has an average approval rate when compared to the average across all 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.

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    Originations

    8

    Origination Dollar Volume (All Markets)

    $1,830,000

    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
    FORT COLLINS, CO (FHA|USDA|VA) 4 $1,030,000 $257,500 $3,811 6.06%
    GREELEY, CO (FHA|USDA|VA) 4 $800,000 $200,000 $2,157 6.19%
    Farmers Bank's top markets include Fort Collins and Greeley among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 8 $1,830,000 $228,750 $2,570 6.13%

    For 2018, Farmers Bank's most frequently originated type of loan was Conventional, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4 $1,300,000 $325,000 $4,623 5.88%
    Refi 2 $450,000 $225,000 $0 6.25%
    Home Improvement 1 $65,000 $65,000 $865 6.25%
    Other 1 $15,000 $15,000 $170 6.75%

    For 2018, Farmers Bank's most frequently cited loan purpose was Home Purchase, with 4 originations. The 2nd most popular reason was Refi, with 2 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 4 $490,000 $122,500 $170 6.38%
    Other 3 $835,000 $278,333 $3,150 6.00%
    1 Year 1 $505,000 $505,000 $3,811 5.50%

    For 2018, Farmers Bank's most frequently cited loan duration was 5 Year, with 4 originations. The 2nd most popular length was Other, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2 $80,000 $40,000
    $2k-3k 1 $505,000 $505,000
    $3k-4k 1 $515,000 $515,000

    Farmers Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 6 $810,000 $135,000
    5-6% 2 $1,020,000 $510,000

    During 2018, Farmers Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 6 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 3 $105,000 $35,000 $518 6.42%
    $200k-400k 3 $705,000 $235,000 $0 6.25%
    $400k-600k 2 $1,020,000 $510,000 $4,623 5.50%

    2018 saw Farmers Bank place emphasis on $100,000 or less loans with 3 originations, totaling $105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 4 $860,000 $215,000 $3,150 6.06%
    $250k+ 1 $505,000 $505,000 $3,811 5.50%
    $50k-75k 1 $15,000 $15,000 $170 6.75%
    $50k or less 1 $205,000 $205,000 $0 6.25%
    $75k-100k 1 $245,000 $245,000 $0 6.25%

    Farmers Bank lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $250k+, with 1 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 4 $1,210,000 $302,500 $3,811 6.06%
    30-36% 2 $90,000 $45,000 $865 6.25%
    43% 1 $15,000 $15,000 $170 6.75%
    >60% 1 $515,000 $515,000 $5,435 5.50%

    Farmers Bank lent most frequently to those with DTI ratios of <20%, with 4 originations. The next most common DTI ratio? 30-36%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 8 $1,830,000 $228,750 $2,570 6.13%

    Approval Rates

    Total approvals of all applications
    88.89%

    Farmers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 8 $1,830,000 $228,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 8 $1,830,000 $228,750

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $25,000 $25,000 $0 6.25%
    40-60% 1 $245,000 $245,000 $0 6.25%
    60-80% 4 $1,480,000 $370,000 $4,623 5.88%
    Under 20% 2 $80,000 $40,000 $518 6.50%