Is Farm Credit Mid-America a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Farm Credit Mid-America to those of other lenders for a comparable set of borrowers. Here is our review of Farm Credit Mid-America nationally:
| Review Item | Farm Credit Mid-America |
|---|---|
| Interest Rate | similar to other lenders (+0.03%) |
| Loan Related Closing Costs | higher than other lenders (+$697) |
| National Rate and Closing Cost Star Rating | (3) |
On average, Farm Credit Mid-America’s interest rates were similar to those of other lenders (+0.03%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$697. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Farm Credit Mid-America, check out its website at: https://e-farmcredit.com.
Farm Credit Mid-America’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Farm Credit Mid-America was most active in:
In addition, Farm Credit Mid-America is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Cookeville, TN, for Jumbo mortgages
Farm Credit Mid-America’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Farm Credit Mid-America originated Conforming and Jumbo mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
| New Purchase Mortgages | Conforming | Jumbo |
|---|---|---|
| Interest Rate Difference | +0.05% | +0.02% |
| Loan Related Closing Cost Difference | +$936 | +$436 |
| Cost Adjusted Rate Difference | +0.11% | +0.03% |
| National Star Rating |
| Refinance Mortgages | Conforming | Jumbo |
|---|---|---|
| Interest Rate Difference | -0.01% | +0.00% |
| Loan Related Closing Cost Difference | +$311 | +$247 |
| Cost Adjusted Rate Difference | +0.01% | +0.01% |
| Average Star Rating |
As a summary, Farm Credit Mid-America is similar to other lenders for Jumbo purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing, Farm Credit Mid-America is similar to other lenders for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Farm Credit Mid-America:
Registered city and state: LOUISVILLE, KY, 40223
Regulator: United States Department of Housing and Urban Development (HUD)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Farm Credit Mid-America’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.