Farmers Savings Bank & Trust Mortgage Rates, Fees & Info

Vinton, IA

LEI: 549300MOZY61MOJWXJ70

Tax ID: 42-0246980

Latest/2023 | 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
  • Similar Lenders
  • 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 Savings Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Farmers Savings Bank & Trust has a high proportion of conventional loans. Their top two markets are Cedar Rapids and Waterloo .

    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.

    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

    28

    Origination Dollar Volume (All Markets)

    $2,680,000

    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
    CEDAR RAPIDS, IA (FHA|USDA|VA) 18 $1,720,000 $95,556 $0 0.00%
    Outside of Metro Areas 9 $755,000 $83,889 $0 0.00%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    Farmers Savings Bank & Trust's top markets include Cedar Rapids and Waterloo among others.

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

    • 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.

    FIRST
    Similarity Rank: 112
    LINN AREA
    Similarity Rank: 128
    Bankers Trust Company
    Similarity Rank: 162
    BankIowa of Cedar Rapids
    Similarity Rank: 170
    Fidelity Bank & Trust
    Similarity Rank: 182
    Hills Bank and Trust Company
    Similarity Rank: 200
    Collins Community Credit Union
    Similarity Rank: 210
    Ohnward Bank & Trust
    Similarity Rank: 420
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 518
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 870

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 28 $2,680,000 $95,714 $0 0.00%

    For 2023, Farmers Savings Bank & Trust's most frequently originated type of loan was Conventional, with 28 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 13 $1,945,000 $149,615 $0 0.00%
    Refi 11 $585,000 $53,182 $0 0.00%
    Home Improvement 3 $105,000 $35,000 $0 0.00%
    Other 1 $45,000 $45,000 $0 0.00%

    For 2023, Farmers Savings Bank & Trust's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 28 $2,680,000 $95,714 $0 0.00%

    For 2023, Farmers Savings Bank & Trust's most frequently cited loan duration was Other, with 28 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $870,000 $48,333 $0 0.00%
    $100k-200k 5 $635,000 $127,000 $0 0.00%
    $200k-400k 5 $1,175,000 $235,000 $0 0.00%

    2023 saw Farmers Savings Bank & Trust place emphasis on $100,000 or less loans with 18 originations, totaling $870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 6 $370,000 $61,667 $0 0.00%
    $100k-150k 5 $425,000 $85,000 $0 0.00%
    $50k-75k 5 $255,000 $51,000 $0 0.00%
    $75k-100k 5 $795,000 $159,000 $0 0.00%
    $150k-250k 3 $365,000 $121,667 $0 0.00%

    Farmers Savings Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 28 $2,680,000 $95,714 $0 0.00%

    Farmers Savings Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 24 $2,210,000 $92,083 $0 0.00%
    Not applicable 4 $470,000 $117,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.94%

    Farmers Savings Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.29%

    Farmers Savings Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 28 $2,680,000 $95,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    28 $2,680,000 $95,714