Traders And Farmers Bank Mortgage Rates, Fees & Info

Haleyville, AL

LEI: 549300VGFKRRH43ZN320

Tax ID: 63-0211790

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Traders And Farmers Bank is a smaller bank specializing in Home Purchase and Refi loans. Traders And Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Jasper, Cullman, Auburn, Florence, and Birmingham among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Traders And Farmers Bank 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. 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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    Originations

    216

    Origination Dollar Volume (All Markets)

    $18,770,000

    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 169 $12,735,000 $75,355 $0 6.06%
    Jasper, AL (FHA|USDA|VA) 26 $2,240,000 $86,154 $0 5.54%
    Cullman, AL (FHA|USDA|VA) 7 $1,655,000 $236,429 $0 5.78%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $500,000 $250,000 $0 4.78%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 3 $475,000 $158,333 $0 5.82%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 3 $415,000 $138,333 $0 5.25%
    HUNTSVILLE, AL (FHA|USDA|VA) 2 $240,000 $120,000 $0 5.45%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 4.65%
    DECATUR, AL (FHA|USDA|VA) 2 $210,000 $105,000 $0 4.95%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.73%
    Traders And Farmers Bank's top markets include Jasper, Cullman, Auburn, Florence, and Birmingham among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 216 $18,770,000 $86,898 $0 5.93%

    For 2018, Traders And Farmers Bank's most frequently originated type of loan was Conventional, with 216 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 90 $10,250,000 $113,889 $0 5.64%
    Refi 77 $4,925,000 $63,961 $0 6.27%
    Cash Out Refi 31 $2,575,000 $83,065 $0 5.93%
    Home Improvement 16 $900,000 $56,250 $0 5.98%
    Other 2 $120,000 $60,000 $0 6.05%

    For 2018, Traders And Farmers Bank's most frequently cited loan purpose was Home Purchase, with 90 originations. The 2nd most popular reason was Refi, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 78 $5,880,000 $75,385 $0 6.06%
    20 Year 40 $3,700,000 $92,500 $0 5.73%
    15 Year 33 $2,815,000 $85,303 $0 5.62%
    10 Year 21 $745,000 $35,476 $0 6.31%
    5 Year 21 $2,345,000 $111,667 $0 6.46%
    30 Year 14 $2,930,000 $209,286 $0 5.24%
    3 Year 5 $165,000 $33,000 $0 5.28%
    1 Year 4 $190,000 $47,500 $0 6.70%

    For 2018, Traders And Farmers Bank's most frequently cited loan duration was Other, with 78 originations. The 2nd most popular length was 20 Year, with 40 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 65 $7,825,000 $120,385
    5-6% 64 $5,770,000 $90,156
    6-7% 53 $3,345,000 $63,113
    Over 8% 17 $935,000 $55,000
    7-8% 16 $720,000 $45,000
    <2.5% 1 $175,000 $175,000

    During 2018, Traders And Farmers Bank's average interest rate for loans was 5.24%, while their most frequently originated rate bucket for loans was 4-5%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 156 $6,550,000 $41,987 $0 6.13%
    $100k-200k 38 $5,230,000 $137,632 $0 5.45%
    $200k-400k 19 $4,905,000 $258,158 $0 5.50%
    $600k-1MM 2 $1,660,000 $830,000 $0 4.88%
    $400k-600k 1 $425,000 $425,000 $0 4.65%

    2018 saw Traders And Farmers Bank place emphasis on $100,000 or less loans with 156 originations, totaling $6,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 75 $3,585,000 $47,800 $0 6.43%
    $50k-75k 46 $3,920,000 $85,217 $0 5.81%
    $75k-100k 38 $3,510,000 $92,368 $0 5.72%
    $100k-150k 34 $3,880,000 $114,118 $0 5.59%
    $150k-250k 10 $1,410,000 $141,000 $0 5.64%
    $250k+ 7 $1,905,000 $272,143 $0 5.65%

    Traders And Farmers Bank lent most frequently to those with incomes in the $50k or less range, with 75 originations. The second most popular income band? $50k-75k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 61 $5,175,000 $84,836 $0 5.58%
    20-30% 60 $4,090,000 $68,167 $0 6.13%
    30-36% 36 $3,590,000 $99,722 $0 5.72%
    >60% 11 $965,000 $87,727 $0 6.78%
    50-60% 9 $705,000 $78,333 $0 6.41%
    37% 5 $515,000 $103,000 $0 5.54%
    41% 5 $165,000 $33,000 $0 6.04%
    39% 4 $260,000 $65,000 $0 6.78%
    40% 4 $410,000 $102,500 $0 7.62%
    43% 3 $1,185,000 $395,000 $0 6.00%
    44% 2 $50,000 $25,000 $0 6.73%
    42% 2 $300,000 $150,000 $0 6.40%
    46% 2 $460,000 $230,000 $0 6.17%
    49% 2 $140,000 $70,000 $0 5.10%
    47% 1 $5,000 $5,000 $0 5.26%
    48% 1 $25,000 $25,000 $0 6.34%
    36% 1 $205,000 $205,000 $0 4.99%
    45% 1 $25,000 $25,000 $0 5.00%
    38% 1 $55,000 $55,000 $0 6.10%

    Traders And Farmers Bank lent most frequently to those with DTI ratios of <20%, with 61 originations. The next most common DTI ratio? 20-30%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 211 $18,205,000 $86,280 $0 5.94%
    Native Hawaiian or Islander 1 $295,000 $295,000 $0 4.69%
    Not applicable 2 $230,000 $115,000 $0 5.00%
    Asian 1 $25,000 $25,000 $0 6.56%
    Black 1 $15,000 $15,000 $0 6.60%

    Approval Rates

    Total approvals of all applications
    94.87%

    Traders And Farmers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.22%

    Traders And Farmers Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 216 $18,770,000 $86,898

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 48 $1,880,000 $39,167
    Single Family (1-4 Units):Site-Built 168 $16,890,000 $100,536