Farmers & Merchants Bank Mortgage Rates, Fees & Info
Piedmont, ALLEI: 2549002KNNRT791PG760
Tax ID: 63-0071520
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Farmers & Merchants Bank is a smaller bank specializing in Home Purchase loans. Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Anniston, Gadsden, Talladega, and Auburn among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers & Merchants Bank has an above average approval rate when compared to the average across all lenders.
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Originations
31Origination Dollar Volume (All Markets)
$5,485,000Top 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 |
|---|---|---|---|---|---|
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 24 | $4,270,000 | $177,917 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $370,000 | $185,000 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $5,485,000 | $176,935 | $0 | 0.00% |
For 2024, Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 31 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 18 | $4,150,000 | $230,556 | $0 | 0.00% |
| Refi | 8 | $460,000 | $57,500 | $0 | 0.00% |
| Home Improvement | 5 | $875,000 | $175,000 | $0 | 0.00% |
For 2024, Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 31 | $5,485,000 | $176,935 | $0 | 0.00% |
For 2024, Farmers & Merchants Bank's most frequently cited loan duration was Other, with 31 originations.
Loan Sizing
2024 saw Farmers & Merchants Bank place emphasis on $100,000 or less loans with 17 originations, totaling $925,000 in origination value.
Applicant Income
Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 31 | $5,485,000 | $176,935 | $0 | 0.00% |
Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 31 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 17 | $2,765,000 | $162,647 | $0 | 0.00% |
| Not applicable | 14 | $2,720,000 | $194,286 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Farmers & Merchants 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 31 | $5,485,000 | $176,935 |