First Farmers Bank And Trust Company Mortgage Rates, Fees & InfoConverse, IN
Tax ID: 35-0722410
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewFirst Farmers Bank And Trust Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First Farmers Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Kokomo, Terre Haute, Detroit, and Marion among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)
First Farmers Bank And Trust Company 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. First Farmers Bank And Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||11/30/23|
|30 Year Conventional Purchase||7.11%||11/30/23|
|30 Year Conventional Refi||6.90%||11/30/23|
|30 Year Cash-out Refi||7.14%||11/30/23|
|30 Year FHA Purchase||8.33%||11/30/23|
|30 Year USDA Purchase||8.13%||11/30/23|
|15 Year Conventional Purchase||6.27%||11/30/23|
|15 Year Conventional Refi||6.03%||11/30/23|
|15 Year Cash-out Refi||6.03%||11/30/23|
|These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.|
First Farmers Bank And Trust Company Mortgage Calculator
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This is not an official calculator from First Farmers Bank And Trust Company. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$146,840,000
First Farmers Bank and Trust Company - 2022
First Farmers Bank and Trust Company is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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First Farmers Bank And Trust Company's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.66%.
Relative Fees (Closing Costs)
First Farmers Bank And Trust Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,258.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)||94||$20,770,000||$220,957||$2,224||5.48%|
|Outside of Metro Areas||140||$19,700,000||$140,714||$2,006||5.45%|
|KOKOMO, IN (FHA|USDA|VA)||161||$18,255,000||$113,385||$2,205||5.43%|
|TERRE HAUTE, IN (FHA|USDA|VA)||92||$12,660,000||$137,609||$2,207||5.50%|
|Detroit-Warren-Dearborn, MI (FHA|USDA|VA)||1||$11,765,000||$11,765,000||$0||5.04%|
|Marion, IN (FHA|USDA|VA)||88||$11,050,000||$125,568||$1,872||5.57%|
|Peru, IN (FHA|USDA|VA)||100||$8,290,000||$82,900||$2,109||5.73%|
|LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA)||38||$8,280,000||$217,895||$2,700||5.47%|
|FORT WAYNE, IN (FHA|USDA|VA)||4||$4,710,000||$1,177,500||$2,130||4.84%|
|Logansport, IN (FHA|USDA|VA)||46||$4,170,000||$90,652||$1,917||5.85%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||3||$3,155,000||$1,051,667||$12,711||6.00%|
|DANVILLE, IL (FHA|USDA|VA)||39||$2,535,000||$65,000||$1,873||5.40%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||2||$2,310,000||$1,155,000||$29,407||4.06%|
|Warsaw, IN (FHA|USDA|VA)||7||$2,255,000||$322,143||$1,990||5.34%|
|Plymouth, IN (FHA|USDA|VA)||10||$2,000,000||$200,000||$1,707||4.90%|
|Wabash, IN (FHA|USDA|VA)||19||$1,735,000||$91,316||$1,977||5.09%|
|CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA)||1||$1,445,000||$1,445,000||$5,735||4.38%|
|Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)||5||$1,065,000||$213,000||$1,917||5.48%|
|Huntington, IN (FHA|USDA|VA)||6||$1,060,000||$176,667||$3,728||5.98%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||2||$940,000||$470,000||$4,664||4.69%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||3||$865,000||$288,333||$2,484||3.88%|
|GREENVILLE-ANDERSON, SC (FHA|USDA|VA)||2||$770,000||$385,000||$3,721||4.06%|
|Frankfort, IN (FHA|USDA|VA)||7||$755,000||$107,857||$1,601||6.46%|
|BLOOMINGTON, IN (FHA|USDA|VA)||5||$685,000||$137,000||$1,598||7.13%|
|KALAMAZOO-PORTAGE, MI (FHA|USDA|VA)||1||$645,000||$645,000||$3,369||3.75%|
|SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA)||2||$580,000||$290,000||$2,647||4.13%|
|Jasper, IN (FHA|USDA|VA)||3||$555,000||$185,000||$3,166||6.33%|
|North Vernon, IN (FHA|USDA|VA)||1||$465,000||$465,000||$2,385||5.25%|
|Bluffton, IN (FHA|USDA|VA)||3||$335,000||$111,667||$2,135||5.63%|
|CLEVELAND-ELYRIA, OH (FHA|USDA|VA)||1||$325,000||$325,000||$3,279||5.63%|
|MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA)||2||$310,000||$155,000||$2,390||7.00%|
|MUNCIE, IN (FHA|USDA|VA)||1||$285,000||$285,000||$2,532||7.25%|
|New Castle, IN (FHA|USDA|VA)||1||$285,000||$285,000||$3,855||6.63%|
|Seymour, IN (FHA|USDA|VA)||1||$275,000||$275,000||$1,791||7.00%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$255,000||$255,000||$3,854||3.88%|
|Crawfordsville, IN (FHA|USDA|VA)||1||$225,000||$225,000||$2,585||6.50%|
|Somerset, KY (FHA|USDA|VA)||1||$215,000||$215,000||$2,607||5.88%|
|CINCINNATI, OH-KY-IN (FHA|USDA|VA)||1||$195,000||$195,000||$3,220||5.38%|
|Decatur, IN (FHA|USDA|VA)||1||$185,000||$185,000||$2,985||4.63%|
|ELKHART-GOSHEN, IN (FHA|USDA|VA)||1||$165,000||$165,000||$0||5.00%|
|BATTLE CREEK, MI (FHA|USDA|VA)||1||$165,000||$165,000||$5,697||6.63%|
|HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA)||1||$95,000||$95,000||$0||5.63%|
|ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA)||1||$55,000||$55,000||$0||6.25%|
We use machine learning to identify the top lenders compared against First Farmers Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, First Farmers Bank And Trust Company's most frequently originated type of loan was Conventional, with 524 originations. Their 2nd most popular type was HELOC, with 376 originations.
For 2022, First Farmers Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 317 originations. The 2nd most popular reason was Cash Out Refi, with 248 originations.
For 2022, First Farmers Bank And Trust Company's most frequently cited loan duration was 15 Year, with 469 originations. The 2nd most popular length was 30 Year, with 338 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
First Farmers Bank And Trust Company's average total fees were $2,258, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 349 originations.
During 2022, First Farmers Bank And Trust Company's average interest rate for loans was 5.42%, while their most frequently originated rate bucket for loans was 6-7%, with 204 originations.
2022 saw First Farmers Bank And Trust Company place emphasis on $100,000 or less loans with 481 originations, totaling $24,045,000 in origination value.
First Farmers Bank And Trust Company lent most frequently to those with incomes in the $50k-75k range, with 207 originations. The second most popular income band? $100k-150k, with 184 originations.
Applicant Debt to Income Ratio
First Farmers Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 238 originations. The next most common DTI ratio? 30-36%, with 151 originations.
Approval RatesTotal approvals of all applications
First Farmers Bank And Trust Company has an average approval rate.
Pick RateApprovals leading to origination
First Farmers Bank And Trust Company has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|FIRST CITIZENS BANCSHARES, INC.||Home equity loan or line of credit (HELOC)||Applying for a mortgage or refinancing an existing mortgage||1||100.0%|