Farmers And Merchants Bank Of Long Beach Mortgage Rates, Fees & Info
Long Beach, CALEI: 25490049RRVB8S6CG210
Tax ID: 95-0726412
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Mortgage Data
Review & Overview
Farmers And Merchants Bank Of Long Beach is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Farmers And Merchants Bank Of Long Beach has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Santa Maria, Riverside, Boise City, and Atlanta among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers And Merchants Bank Of Long Beach has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Farmers And Merchants Bank Of Long Beach is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 4.57% | 3/31/23 |
| 30 Year Conventional Refi | 5.64% | 3/31/23 |
| 30 Year Cash-out Refi | 5.69% | 3/31/23 |
| 15 Year Conventional Purchase | 5.68% | 3/31/23 |
| 15 Year Conventional Refi | 5.99% | 3/31/23 |
| 15 Year Cash-out Refi | 5.99% | 3/31/23 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Originations
307Origination Dollar Volume (All Markets)
$369,975,000Awards
Farmers and Merchants Bank of Long Beach - 2022
Farmers and Merchants Bank of Long Beach is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Farmers And Merchants Bank Of Long Beach's average 30 year fixed mortgage rate was
3.31%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -1.45%.
Relative Fees (Closing Costs)
Farmers And Merchants Bank Of Long Beach's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,998.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 251 | $276,305,000 | $1,100,817 | $8,626 | 3.50% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 21 | $33,215,000 | $1,581,667 | $13,711 | 3.87% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 20 | $31,090,000 | $1,554,500 | $8,122 | 3.58% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $11,110,000 | $5,555,000 | $0 | 4.23% |
| Outside of Metro Areas | 1 | $8,505,000 | $8,505,000 | $0 | 4.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $2,255,000 | $2,255,000 | $0 | 4.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $1,900,000 | $475,000 | $3,018 | 3.47% |
| Bozeman, MT (FHA|USDA|VA) | 2 | $1,790,000 | $895,000 | $0 | 3.40% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $1,265,000 | $1,265,000 | $12,631 | 3.00% |
| Outside of Metro Areas | 1 | $1,255,000 | $1,255,000 | $0 | 4.38% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 3.75% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 3.50% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against Farmers and Merchants Bank of Long Beach based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 307 | $369,975,000 | $1,205,130 | $8,824 | 3.54% |
For 2022, Farmers And Merchants Bank Of Long Beach's most frequently originated type of loan was Conventional, with 307 originations.
Loan Reason
For 2022, Farmers And Merchants Bank Of Long Beach's most frequently cited loan purpose was Refi, with 121 originations. The 2nd most popular reason was Cash Out Refi, with 84 originations.
Loan Duration/Length
For 2022, Farmers And Merchants Bank Of Long Beach's most frequently cited loan duration was 30 Year, with 186 originations. The 2nd most popular length was Other, with 55 originations.
Origination Fees/Closing Costs
Farmers And Merchants Bank Of Long Beach's average total fees were $8,998, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 53 originations.
Interest Rates
During 2022, Farmers And Merchants Bank Of Long Beach's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 148 originations.
Loan Sizing
2022 saw Farmers And Merchants Bank Of Long Beach place emphasis on $1MM+ loans with 98 originations, totaling $261,800,000 in origination value.
Applicant Income
Farmers And Merchants Bank Of Long Beach lent most frequently to those with incomes in the $250k+ range, with 91 originations. The second most popular income band? $150k-250k, with 38 originations.
Applicant Debt to Income Ratio
Farmers And Merchants Bank Of Long Beach lent most frequently to those with DTI ratios of 30-36%, with 45 originations. The next most common DTI ratio? 20-30%, with 33 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.65%
Farmers And Merchants Bank Of Long Beach has a below average approval rate.
Pick Rate
Approvals leading to origination90.88%
Farmers And Merchants Bank Of Long Beach has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 307 | $369,975,000 | $1,205,130 |