Farmers And Mechanics Federal Savings Bank Mortgage Rates, Fees & Info

Bloomfield, IN

LEI: 549300TDS8QNL4IOOX73

Tax ID: 35-0303170

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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

59

Origination Dollar Volume (All Markets)

$10,775,000

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
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%
Farmers And Mechanics Federal Savings Bank's top markets include Bloomington, Indianapolis, Bedford, Seymour, and Vincennes among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 33 $8,235,000 $249,545 $0 0.00%
    Cash Out Refi 13 $1,645,000 $126,538 $0 0.00%
    Other 6 $310,000 $51,667 $0 0.00%
    Home Improvement 5 $445,000 $89,000 $0 0.00%
    Refi 2 $140,000 $70,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 22 $1,290,000 $58,636 $0 0.00%
    $100k-200k 16 $2,310,000 $144,375 $0 0.00%
    $200k-400k 16 $4,590,000 $286,875 $0 0.00%
    $400k-600k 4 $1,820,000 $455,000 $0 0.00%
    $600k-1MM 1 $765,000 $765,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $4,855,000 $255,526 $0 0.00%
    $75k-100k 15 $2,535,000 $169,000 $0 0.00%
    $50k-75k 12 $1,550,000 $129,167 $0 0.00%
    $50k or less 6 $470,000 $78,333 $0 0.00%
    $150k-250k 5 $865,000 $173,000 $0 0.00%
    $250k+ 2 $500,000 $250,000 $0 0.00%

    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 applications
    81.82%

    Farmers And Mechanics Federal Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.66%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    59 $10,775,000 $182,627