The Farmers Bank Of Milton Mortgage Rates, Fees & Info

Milton, KY

LEI: 549300TDH15867LXRK58

Tax ID: 61-0188957

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
  • 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

    The Farmers Bank Of Milton is a smaller bank specializing in Home Purchase and Refi loans. The Farmers Bank Of Milton has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Louisville, North Vernon, South Bend, and Scottsburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Farmers Bank Of Milton 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

    148

    Origination Dollar Volume (All Markets)

    $27,890,000

    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
    Madison, IN (FHA|USDA|VA) 63 $12,165,000 $193,095 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 34 $8,540,000 $251,176 $0 0.00%
    Outside of Metro Areas 47 $6,495,000 $138,191 $0 0.00%
    North Vernon, IN (FHA|USDA|VA) 2 $420,000 $210,000 $0 0.00%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Scottsburg, IN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    The Farmers Bank Of Milton's top markets include Madison, Louisville, North Vernon, South Bend, and Scottsburg among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 148 $27,890,000 $188,446 $0 0.00%

    For 2023, The Farmers Bank Of Milton's most frequently originated type of loan was Conventional, with 148 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 67 $17,285,000 $257,985 $0 0.00%
    Refi 56 $7,960,000 $142,143 $0 0.00%
    Home Improvement 13 $1,545,000 $118,846 $0 0.00%
    Other 12 $1,100,000 $91,667 $0 0.00%

    For 2023, The Farmers Bank Of Milton's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 148 $27,890,000 $188,446 $0 0.00%

    For 2023, The Farmers Bank Of Milton's most frequently cited loan duration was Other, with 148 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 51 $7,445,000 $145,980 $0 0.00%
    $100,000 or less 48 $2,660,000 $55,417 $0 0.00%
    $200k-400k 36 $9,440,000 $262,222 $0 0.00%
    $400k-600k 7 $3,085,000 $440,714 $0 0.00%
    $600k-1MM 4 $2,880,000 $720,000 $0 0.00%
    $1MM+ 2 $2,380,000 $1,190,000 $0 0.00%

    2023 saw The Farmers Bank Of Milton place emphasis on $100k-200k loans with 51 originations, totaling $7,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 33 $6,425,000 $194,697 $0 0.00%
    $50k-75k 24 $2,720,000 $113,333 $0 0.00%
    $50k or less 22 $1,980,000 $90,000 $0 0.00%
    $75k-100k 13 $1,825,000 $140,385 $0 0.00%
    $150k-250k 11 $3,255,000 $295,909 $0 0.00%
    $250k+ 3 $2,525,000 $841,667 $0 0.00%

    The Farmers Bank Of Milton lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $50k-75k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 148 $27,890,000 $188,446 $0 0.00%

    The Farmers Bank Of Milton lent most frequently to those with DTI ratios of Exempt%, with 148 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 122 $21,260,000 $174,262 $0 0.00%
    Not applicable 25 $6,545,000 $261,800 $0 0.00%
    Asian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.45%

    The Farmers Bank Of Milton has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.22%

    The Farmers Bank Of Milton has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 148 $27,890,000 $188,446

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    148 $27,890,000 $188,446