Farmers Savings Bank & Trust Mortgage Rates, Fees & Info
Vinton, IALEI: 549300MOZY61MOJWXJ70
Tax ID: 42-0246980
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Farmers Savings Bank & Trust is a smaller bank specializing in Home Purchase loans. Farmers Savings Bank & Trust has a high proportion of conventional loans. Their top two markets are Cedar Rapids and Iowa City .Farmers Savings Bank & Trust has an above 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
34Origination Dollar Volume (All Markets)
$5,480,000Top 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 |
|---|---|---|---|---|---|
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 25 | $3,255,000 | $130,200 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $720,000 | $90,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Farmers Savings Bank & Trust 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 | 34 | $5,480,000 | $161,176 | $0 | 0.00% |
For 2024, Farmers Savings Bank & Trust's most frequently originated type of loan was Conventional, with 34 originations.
Loan Reason
For 2024, Farmers Savings Bank & Trust's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 34 | $5,480,000 | $161,176 | $0 | 0.00% |
For 2024, Farmers Savings Bank & Trust's most frequently cited loan duration was Other, with 34 originations.
Loan Sizing
2024 saw Farmers Savings Bank & Trust place emphasis on $100,000 or less loans with 18 originations, totaling $870,000 in origination value.
Applicant Income
Farmers Savings Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 34 | $5,480,000 | $161,176 | $0 | 0.00% |
Farmers Savings Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 34 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 30 | $4,910,000 | $163,667 | $0 | 0.00% |
| Not applicable | 4 | $570,000 | $142,500 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Farmers Savings Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination85.29%
Farmers Savings Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 34 | $5,480,000 | $161,176 |