Farmers And Mechanics Federal Savings Bank Mortgage Rates, Fees & Info
Bloomfield, INLEI: 549300TDS8QNL4IOOX73
Tax ID: 35-0303170
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Farmers And Mechanics Federal Savings Bank is a smaller bank specializing in Home Purchase loans. Farmers And Mechanics Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bloomington, Indianapolis, Bedford, Seymour, and Vincennes among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers And Mechanics Federal Savings Bank has an 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
59Origination Dollar Volume (All Markets)
$10,775,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 38 | $6,000,000 | $157,895 | $0 | 0.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 11 | $3,085,000 | $280,455 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $0 | 0.00% |
| Bedford, IN (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 0.00% |
| Seymour, IN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Vincennes, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Washington, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 59 | $10,775,000 | $182,627 | $0 | 0.00% |
For 2022, Farmers And Mechanics Federal Savings Bank's most frequently originated type of loan was Conventional, with 59 originations.
Loan Reason
For 2022, Farmers And Mechanics Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 59 | $10,775,000 | $182,627 | $0 | 0.00% |
For 2022, Farmers And Mechanics Federal Savings Bank's most frequently cited loan duration was Other, with 59 originations.
Loan Sizing
2022 saw Farmers And Mechanics Federal Savings Bank place emphasis on $100,000 or less loans with 22 originations, totaling $1,290,000 in origination value.
Applicant Income
Farmers And Mechanics Federal Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 59 | $10,775,000 | $182,627 | $0 | 0.00% |
Farmers And Mechanics Federal Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 59 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 58 | $10,700,000 | $184,483 | $0 | 0.00% |
| Not provided | 1 | $75,000 | $75,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications81.82%
Farmers And Mechanics Federal Savings Bank has a below average approval rate.
Pick Rate
Approvals leading to origination79.66%
Farmers And Mechanics Federal Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 59 | $10,775,000 | $182,627 |