Independent Farmers Bank Mortgage Rates, Fees & Info
Maysville, MOLEI: 894500L05PZK2V29V567
Tax ID: 44-0241245
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Mortgage Data
Review & Overview
Independent Farmers Bank is a smaller bank specializing in Home Purchase and Refi loans. Independent Farmers Bank has a high proportion of conventional loans. Their top two markets are St. Joseph and Kansas City .Independent 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.
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Originations
20Origination Dollar Volume (All Markets)
$3,580,000Top 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 |
|---|---|---|---|---|---|
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 12 | $2,400,000 | $200,000 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,055,000 | $150,714 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 20 | $3,580,000 | $179,000 | $0 | 0.00% |
For 2023, Independent Farmers Bank's most frequently originated type of loan was Conventional, with 20 originations.
Loan Reason
For 2023, Independent Farmers Bank's most frequently cited loan purpose was Home Purchase, with 7 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 20 | $3,580,000 | $179,000 | $0 | 0.00% |
For 2023, Independent Farmers Bank's most frequently cited loan duration was Other, with 20 originations.
Loan Sizing
2023 saw Independent Farmers Bank place emphasis on $100,000 or less loans with 9 originations, totaling $505,000 in origination value.
Applicant Income
Independent Farmers Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $250k+, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 20 | $3,580,000 | $179,000 | $0 | 0.00% |
Independent Farmers Bank lent most frequently to those with DTI ratios of Exempt%, with 20 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 19 | $3,335,000 | $175,526 | $0 | 0.00% |
| Not applicable | 1 | $245,000 | $245,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Independent Farmers Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.00%
Independent Farmers Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 20 | $3,580,000 | $179,000 |