Farmers-merchants Bank Of Illinois Mortgage Rates, Fees & Info
Joy, ILLEI: 549300UBM8OIENB7BQ09
Tax ID: 36-1297405
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Farmers-merchants Bank Of Illinois is a smaller bank specializing in Home Purchase and Refi loans. Farmers-merchants Bank Of Illinois has a high proportion of conventional loans. Their top two markets are Pontiac and Burlington .Farmers-merchants Bank Of Illinois 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.
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Originations
10Origination Dollar Volume (All Markets)
$1,040,000Top 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 | 8 | $920,000 | $115,000 | $0 | 0.00% |
| Pontiac, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Burlington, IA-IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 10 | $1,040,000 | $104,000 | $0 | 0.00% |
For 2023, Farmers-merchants Bank Of Illinois's most frequently originated type of loan was Conventional, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 6 | $620,000 | $103,333 | $0 | 0.00% |
| Cash Out Refi | 3 | $185,000 | $61,667 | $0 | 0.00% |
| Refi | 1 | $235,000 | $235,000 | $0 | 0.00% |
For 2023, Farmers-merchants Bank Of Illinois's most frequently cited loan purpose was Home Purchase, with 6 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 10 | $1,040,000 | $104,000 | $0 | 0.00% |
For 2023, Farmers-merchants Bank Of Illinois's most frequently cited loan duration was Other, with 10 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 6 | $360,000 | $60,000 | $0 | 0.00% |
| $100k-200k | 2 | $210,000 | $105,000 | $0 | 0.00% |
| $200k-400k | 2 | $470,000 | $235,000 | $0 | 0.00% |
2023 saw Farmers-merchants Bank Of Illinois place emphasis on $100,000 or less loans with 6 originations, totaling $360,000 in origination value.
Applicant Income
Farmers-merchants Bank Of Illinois lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 10 | $1,040,000 | $104,000 | $0 | 0.00% |
Farmers-merchants Bank Of Illinois lent most frequently to those with DTI ratios of Exempt%, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 9 | $805,000 | $89,444 | $0 | 0.00% |
| Not provided | 1 | $235,000 | $235,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications91.67%
Farmers-merchants Bank Of Illinois has an average approval rate.
Pick Rate
Approvals leading to origination90.00%
Farmers-merchants Bank Of Illinois has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 10 | $1,040,000 | $104,000 |