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 Refi and Home Purchase loans. Farmers-merchants Bank Of Illinois has a high proportion of conventional loans. Their top two markets are Bloomington and Davenport .Farmers-merchants Bank Of Illinois 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
9Origination Dollar Volume (All Markets)
$1,035,000Top 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 |
|---|---|---|---|---|---|
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $400,000 | $66,667 | $0 | 0.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 9 | $1,035,000 | $115,000 | $0 | 0.00% |
For 2022, Farmers-merchants Bank Of Illinois's most frequently originated type of loan was Conventional, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 5 | $415,000 | $83,000 | $0 | 0.00% |
| Home Purchase | 3 | $595,000 | $198,333 | $0 | 0.00% |
| Cash Out Refi | 1 | $25,000 | $25,000 | $0 | 0.00% |
For 2022, Farmers-merchants Bank Of Illinois's most frequently cited loan purpose was Refi, with 5 originations. The 2nd most popular reason was Home Purchase, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 9 | $1,035,000 | $115,000 | $0 | 0.00% |
For 2022, Farmers-merchants Bank Of Illinois's most frequently cited loan duration was Other, with 9 originations.
Loan Sizing
2022 saw Farmers-merchants Bank Of Illinois place emphasis on $100,000 or less loans with 6 originations, totaling $230,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 5 | $305,000 | $61,000 | $0 | 0.00% |
| $75k-100k | 3 | $265,000 | $88,333 | $0 | 0.00% |
| $250k+ | 1 | $465,000 | $465,000 | $0 | 0.00% |
Farmers-merchants Bank Of Illinois lent most frequently to those with incomes in the $50k or less range, with 5 originations. The second most popular income band? $75k-100k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 9 | $1,035,000 | $115,000 | $0 | 0.00% |
Farmers-merchants Bank Of Illinois lent most frequently to those with DTI ratios of Exempt%, with 9 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 9 | $1,035,000 | $115,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications81.25%
Farmers-merchants Bank Of Illinois has a below average approval rate.
Pick Rate
Approvals leading to origination55.56%
Farmers-merchants Bank Of Illinois has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 9 | $1,035,000 | $115,000 |