Traders And Farmers Bank Mortgage Rates, Fees & Info

Haleyville, AL

LEI: 549300VGFKRRH43ZN320

Tax ID: 63-0211790

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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 Refi and Home Purchase loans. Traders And Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Jasper, Florence, Cullman, Decatur, and Tuscaloosa among others. We have data for 6 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. Traders And Farmers Bank 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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    Originations

    214

    Origination Dollar Volume (All Markets)

    $13,100,000

    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 182 $10,970,000 $60,275 $1,313 6.34%
    Jasper, AL (FHA|USDA|VA) 15 $935,000 $62,333 $1,715 5.88%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 8 $540,000 $67,500 $1,686 5.57%
    Cullman, AL (FHA|USDA|VA) 5 $455,000 $91,000 $1,401 5.50%
    DECATUR, AL (FHA|USDA|VA) 3 $155,000 $51,667 $1,710 5.53%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $45,000 $45,000 $1,846 5.60%
    Traders And Farmers Bank's top markets include Jasper, Florence, Cullman, Decatur, and Tuscaloosa among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 214 $13,100,000 $61,215 $1,356 6.24%

    For 2019, Traders And Farmers Bank's most frequently originated type of loan was Conventional, with 214 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 152 $8,100,000 $53,289 $1,124 6.36%
    Home Purchase 61 $4,975,000 $81,557 $1,930 5.96%
    Home Improvement 1 $25,000 $25,000 $1,512 5.75%

    For 2019, Traders And Farmers Bank's most frequently cited loan purpose was Refi, with 152 originations. The 2nd most popular reason was Home Purchase, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 71 $4,175,000 $58,803 $1,242 6.31%
    20 Year 37 $3,655,000 $98,784 $1,816 5.93%
    15 Year 36 $2,070,000 $57,500 $1,374 6.22%
    10 Year 35 $1,345,000 $38,429 $996 6.07%
    5 Year 20 $730,000 $36,500 $823 6.96%
    30 Year 5 $565,000 $113,000 $2,511 5.56%
    3 Year 5 $145,000 $29,000 $927 6.63%
    1 Year 5 $415,000 $83,000 $4,032 6.33%

    For 2019, Traders And Farmers Bank's most frequently cited loan duration was Other, with 71 originations. The 2nd most popular length was 20 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 98 $4,400,000 $44,898
    $1k-2k 49 $3,575,000 $72,959
    $2k-3k 11 $1,955,000 $177,727

    Traders And Farmers Bank's average total fees were $2,511, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 98 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 100 $7,410,000 $74,100
    6-7% 61 $3,025,000 $49,590
    Over 8% 25 $1,075,000 $43,000
    7-8% 20 $720,000 $36,000
    4-5% 6 $730,000 $121,667
    3-4% 2 $140,000 $70,000

    During 2019, Traders And Farmers Bank's average interest rate for loans was 5.56%, while their most frequently originated rate bucket for loans was 5-6%, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 176 $7,470,000 $42,443 $1,109 6.37%
    $100k-200k 33 $4,445,000 $134,697 $2,371 5.71%
    $200k-400k 5 $1,185,000 $237,000 $2,966 5.23%

    2019 saw Traders And Farmers Bank place emphasis on $100,000 or less loans with 176 originations, totaling $7,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 77 $3,325,000 $43,182 $1,125 6.54%
    $50k-75k 55 $3,355,000 $61,000 $1,439 6.16%
    $100k-150k 28 $2,630,000 $93,929 $1,688 6.01%
    $75k-100k 27 $1,675,000 $62,037 $1,294 6.29%
    $150k-250k 15 $1,155,000 $77,000 $1,475 6.03%
    $250k+ 7 $695,000 $99,286 $1,917 5.42%

    Traders And Farmers Bank lent most frequently to those with incomes in the $50k or less range, with 77 originations. The second most popular income band? $50k-75k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 70 $4,520,000 $64,571 $1,405 6.28%
    <20% 50 $2,340,000 $46,800 $1,268 6.22%
    30-36% 39 $2,585,000 $66,282 $1,393 6.15%
    39% 8 $440,000 $55,000 $1,177 7.01%
    50-60% 6 $460,000 $76,667 $1,300 6.11%
    >60% 5 $235,000 $47,000 $1,002 7.79%
    38% 5 $375,000 $75,000 $1,129 5.58%
    41% 5 $445,000 $89,000 $1,623 6.12%
    36% 4 $280,000 $70,000 $1,353 6.08%
    37% 3 $185,000 $61,667 $1,107 5.59%
    45% 3 $235,000 $78,333 $2,185 5.89%
    48% 2 $180,000 $90,000 $2,147 5.93%
    40% 2 $70,000 $35,000 $969 6.90%
    42% 2 $100,000 $50,000 $672 6.30%
    44% 2 $60,000 $30,000 $1,197 5.43%
    49% 1 $245,000 $245,000 $4,323 5.81%
    47% 1 $35,000 $35,000 $842 8.74%
    46% 1 $45,000 $45,000 $1,110 5.60%

    Traders And Farmers Bank lent most frequently to those with DTI ratios of 20-30%, with 70 originations. The next most common DTI ratio? <20%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 212 $13,040,000 $61,509 $1,359 6.24%
    Black 1 $35,000 $35,000 $922 6.60%
    Native Hawaiian or Islander 1 $25,000 $25,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    93.12%

    Traders And Farmers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.73%

    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 214 $13,100,000 $61,215

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 53 $2,645,000 $49,906
    Single Family (1-4 Units):Site-Built 161 $10,455,000 $64,938

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $1,925,000 $35,000 $937 6.36%
    40-60% 48 $2,980,000 $62,083 $1,282 6.15%
    60-80% 61 $4,185,000 $68,607 $1,603 6.29%
    80-100% 29 $3,085,000 $106,379 $1,863 6.01%
    Over 100% 5 $475,000 $95,000 $657 7.27%
    Under 20% 16 $450,000 $28,125 $969 6.06%