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 an above 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

    55

    Origination Dollar Volume (All Markets)

    $5,325,000

    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) 40 $3,880,000 $97,000 $0 0.00%
    Outside of Metro Areas 14 $1,220,000 $87,143 $0 0.00%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $225,000 $225,000 $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.

    Hills Bank and Trust Company
    Similarity Rank: 117
    FIRST
    Similarity Rank: 154
    BankIowa of Cedar Rapids
    Similarity Rank: 210
    RUHL MORTGAGE, LLC
    Similarity Rank: 306
    MidWestOne Bank
    Similarity Rank: 310
    Collins Community Credit Union
    Similarity Rank: 340
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 364
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 390
    UNIVERSAL LENDING CORPORATION
    Similarity Rank: 552
    GREENSTATE CREDIT UNION
    Similarity Rank: 945

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $5,325,000 $96,818 $0 0.00%

    For 2019, Farmers Savings Bank & Trust's most frequently originated type of loan was Conventional, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 34 $3,150,000 $92,647 $0 0.00%
    Refi 11 $1,145,000 $104,091 $0 0.00%
    Cash Out Refi 8 $930,000 $116,250 $0 0.00%
    Home Improvement 1 $65,000 $65,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    For 2019, Farmers Savings Bank & Trust's most frequently cited loan purpose was Home Purchase, with 34 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 55 $5,325,000 $96,818 $0 0.00%

    For 2019, Farmers Savings Bank & Trust's most frequently cited loan duration was Other, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,595,000 $48,333 $0 0.00%
    $100k-200k 16 $2,280,000 $142,500 $0 0.00%
    $200k-400k 6 $1,450,000 $241,667 $0 0.00%

    2019 saw Farmers Savings Bank & Trust place emphasis on $100,000 or less loans with 33 originations, totaling $1,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 17 $2,315,000 $136,176 $0 0.00%
    $50k-75k 16 $1,550,000 $96,875 $0 0.00%
    $50k or less 12 $700,000 $58,333 $0 0.00%
    $75k-100k 4 $290,000 $72,500 $0 0.00%
    $250k+ 2 $290,000 $145,000 $0 0.00%

    Farmers Savings Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $50k-75k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 55 $5,325,000 $96,818 $0 0.00%

    Farmers Savings Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 52 $5,210,000 $100,192 $0 0.00%
    Not applicable 3 $115,000 $38,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.31%

    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 origination
    94.55%

    Farmers Savings Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 55 $5,325,000 $96,818

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 55 $5,325,000 $96,818