Farmers State Bank & Trust Co. Mortgage Rates, Fees & Info
Church Point, LALEI: 549300YBDQ281GX1LB13
Tax ID: 72-0358475
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Farmers State Bank & Trust Co. is a smaller bank specializing in Refi loans. Farmers State Bank & Trust Co. has a high proportion of conventional loans. Their top two markets are Lafayette and Opelousas .Farmers State Bank & Trust Co. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
25Origination Dollar Volume (All Markets)
$3,275,000Top 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 |
|---|---|---|---|---|---|
| LAFAYETTE, LA (FHA|USDA|VA) | 19 | $1,875,000 | $98,684 | $0 | 8.55% |
| Outside of Metro Areas | 2 | $930,000 | $465,000 | $0 | 8.13% |
| Opelousas, LA (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $0 | 8.06% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $3,275,000 | $131,000 | $0 | 8.44% |
For 2023, Farmers State Bank & Trust Co.'s most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 18 | $2,790,000 | $155,000 | $0 | 8.40% |
| Home Purchase | 5 | $425,000 | $85,000 | $0 | 8.50% |
| Home Improvement | 2 | $60,000 | $30,000 | $0 | 8.63% |
For 2023, Farmers State Bank & Trust Co.'s most frequently cited loan purpose was Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 5 originations.
Loan Duration/Length
For 2023, Farmers State Bank & Trust Co.'s most frequently cited loan duration was 3 Year, with 11 originations. The 2nd most popular length was 5 Year, with 10 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $315,000 | $105,000 |
| $1k-2k | 1 | $105,000 | $105,000 |
Farmers State Bank & Trust Co.'s average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 17 | $1,515,000 | $89,118 |
| 7-8% | 7 | $1,285,000 | $183,571 |
| 6-7% | 1 | $475,000 | $475,000 |
During 2023, Farmers State Bank & Trust Co.'s average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 17 originations.
Loan Sizing
2023 saw Farmers State Bank & Trust Co. place emphasis on $100,000 or less loans with 14 originations, totaling $630,000 in origination value.
Applicant Income
Farmers State Bank & Trust Co. lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
Farmers State Bank & Trust Co. lent most frequently to those with DTI ratios of <20%, with 5 originations. The next most common DTI ratio? 40%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.77%
Farmers State Bank & Trust Co. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.00%
Farmers State Bank & Trust Co. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2806.5 | 1 | $105,000 | $105,000 |
| 640.0 | 3 | $315,000 | $105,000 |
| NA | 21 | $2,855,000 | $135,952 |