Farmers & Merchants Bank Mortgage Rates, Fees & Info
Piedmont, ALLEI: 2549002KNNRT791PG760
Tax ID: 63-0071520
Latest/2023 | 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 Refi and Home Purchase loans. Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Anniston, Daphne, Talladega, Cedartown, and Birmingham among others. We have data for 7 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. They have an above average pick rate when compared to similar lenders.
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Originations
80Origination Dollar Volume (All Markets)
$6,570,000Top 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) | 58 | $4,730,000 | $81,552 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $630,000 | $78,750 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $0 | 0.00% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 80 | $6,570,000 | $82,125 | $0 | 0.00% |
For 2019, Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 80 originations.
Loan Reason
For 2019, Farmers & Merchants Bank's most frequently cited loan purpose was Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 80 | $6,570,000 | $82,125 | $0 | 0.00% |
For 2019, Farmers & Merchants Bank's most frequently cited loan duration was Other, with 80 originations.
Loan Sizing
2019 saw Farmers & Merchants Bank place emphasis on $100,000 or less loans with 64 originations, totaling $2,910,000 in origination value.
Applicant Income
Farmers & Merchants Bank lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $50k or less, with 18 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 80 | $6,570,000 | $82,125 | $0 | 0.00% |
Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 80 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.78%
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 origination98.75%
Farmers & Merchants 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 |
|---|---|---|---|
| Exempt | 80 | $6,570,000 | $82,125 |