The Farmers & Merchants State Bank Mortgage Rates, Fees & Info
Archbold, OHLEI: 254900LDNBFL67R4FW27
Tax ID: 34-4230390
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Mortgage Data
Review & Overview
The Farmers & Merchants State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Farmers & Merchants State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Toledo, Decatur, Columbus, Sidney, and Fort Wayne among others. We have data for 55 markets. (Some data included below & more in-depth data is available with an active subscription.)The Farmers & Merchants State Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Farmers & Merchants State Bank is typically a low 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 9/25/23 |
| 30 Year Conventional Purchase | 7.16% | 9/25/23 |
| 30 Year Conventional Refi | 6.90% | 9/25/23 |
| 30 Year Cash-out Refi | 7.06% | 9/25/23 |
| 15 Year Conventional Purchase | 6.38% | 9/25/23 |
| 15 Year Conventional Refi | 6.15% | 9/25/23 |
| 15 Year Cash-out Refi | 6.15% | 9/25/23 |
| 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. | ||
The Farmers & Merchants State Bank Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,172Origination Dollar Volume (All Markets)
$227,040,000Awards
The Farmers & Merchants State Bank - 2022
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For 2022, less than of lenders were eligible for this award.
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Relative Rate
The Farmers & Merchants State Bank's average 30 year fixed mortgage rate was
4.96%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.2%.
Relative Fees (Closing Costs)
The Farmers & Merchants State Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,258.
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 |
|---|---|---|---|---|---|
| TOLEDO, OH (FHA|USDA|VA) | 285 | $66,825,000 | $234,474 | $2,915 | 4.77% |
| Decatur, IN (FHA|USDA|VA) | 212 | $26,810,000 | $126,462 | $2,899 | 4.36% |
| Outside of Metro Areas | 221 | $23,895,000 | $108,122 | $2,810 | 4.74% |
| COLUMBUS, OH (FHA|USDA|VA) | 24 | $20,260,000 | $844,167 | $0 | 4.46% |
| Sidney, OH (FHA|USDA|VA) | 54 | $8,200,000 | $151,852 | $2,016 | 4.89% |
| FORT WAYNE, IN (FHA|USDA|VA) | 38 | $7,120,000 | $187,368 | $3,943 | 4.87% |
| MUNCIE, IN (FHA|USDA|VA) | 31 | $6,815,000 | $219,839 | $4,928 | 5.18% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 21 | $6,325,000 | $301,190 | $2,965 | 4.87% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $5,265,000 | $1,755,000 | $24,598 | 4.41% |
| Bluffton, IN (FHA|USDA|VA) | 37 | $5,155,000 | $139,324 | $2,363 | 4.10% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 14 | $4,410,000 | $315,000 | $3,286 | 5.37% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $3,745,000 | $3,745,000 | $0 | 5.65% |
| Defiance, OH (FHA|USDA|VA) | 39 | $3,685,000 | $94,487 | $3,019 | 5.28% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 5 | $3,665,000 | $733,000 | $4,280 | 4.17% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 17 | $3,575,000 | $210,294 | $5,095 | 5.31% |
| Angola, IN (FHA|USDA|VA) | 24 | $3,480,000 | $145,000 | $3,235 | 4.26% |
| Auburn, IN (FHA|USDA|VA) | 23 | $3,205,000 | $139,348 | $2,260 | 4.58% |
| Urbana, OH (FHA|USDA|VA) | 12 | $2,460,000 | $205,000 | $3,462 | 5.16% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $2,355,000 | $785,000 | $6,346 | 3.40% |
| Richmond, IN (FHA|USDA|VA) | 10 | $1,680,000 | $168,000 | $4,837 | 5.92% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,385,000 | $461,667 | $5,761 | 3.58% |
| Hillsdale, MI (FHA|USDA|VA) | 8 | $1,240,000 | $155,000 | $2,903 | 4.01% |
| Celina, OH (FHA|USDA|VA) | 7 | $1,215,000 | $173,571 | $4,863 | 4.45% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $0 | 3.64% |
| Bellefontaine, OH (FHA|USDA|VA) | 7 | $1,025,000 | $146,429 | $2,363 | 5.16% |
| Van Wert, OH (FHA|USDA|VA) | 6 | $1,010,000 | $168,333 | $4,357 | 5.01% |
| Kendallville, IN (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $7,227 | 5.26% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $6,048 | 4.88% |
| Connersville, IN (FHA|USDA|VA) | 11 | $845,000 | $76,818 | $2,185 | 5.28% |
| New Castle, IN (FHA|USDA|VA) | 5 | $645,000 | $129,000 | $2,102 | 5.51% |
| Adrian, MI (FHA|USDA|VA) | 4 | $640,000 | $160,000 | $2,589 | 4.59% |
| Marion, IN (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 4.25% |
| Findlay, OH (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $3,367 | 3.20% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $3,793 | 5.50% |
| MONROE, MI (FHA|USDA|VA) | 7 | $525,000 | $75,000 | $2,685 | 3.14% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $8,623 | 4.59% |
| Coldwater, MI (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,201 | 4.69% |
| Sandusky, OH (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 5.13% |
| Ashland, OH (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,094 | 5.40% |
| Wapakoneta, OH (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $1,971 | 4.50% |
| Sturgis, MI (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,108 | 4.08% |
| Warsaw, IN (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,419 | 5.73% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,160 | 4.59% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 4.50% |
| Peru, IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,467 | 4.59% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,389 | 4.59% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,296 | 4.29% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,399 | 5.75% |
| Tiffin, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.75% |
| Wooster, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 2.25% |
| North Vernon, IN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.75% |
| Bucyrus-Galion, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $2,711 | 5.95% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 2.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Farmers & Merchants State Bank 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 | 677 | $187,185,000 | $276,492 | $3,009 | 4.92% |
| HELOC | 495 | $39,855,000 | $80,515 | n/a | 4.39% |
For 2022, The Farmers & Merchants State Bank's most frequently originated type of loan was Conventional, with 677 originations. Their 2nd most popular type was HELOC, with 495 originations.
Loan Reason
For 2022, The Farmers & Merchants State Bank's most frequently cited loan purpose was Home Purchase, with 421 originations. The 2nd most popular reason was Other, with 381 originations.
Loan Duration/Length
For 2022, The Farmers & Merchants State Bank's most frequently cited loan duration was 10 Year, with 516 originations. The 2nd most popular length was 30 Year, with 365 originations.
Origination Fees/Closing Costs
The Farmers & Merchants State Bank's average total fees were $3,258, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 255 originations.
Interest Rates
During 2022, The Farmers & Merchants State Bank's average interest rate for loans was 4.96%, while their most frequently originated rate bucket for loans was 5-6%, with 281 originations.
Loan Sizing
2022 saw The Farmers & Merchants State Bank place emphasis on $100,000 or less loans with 553 originations, totaling $27,895,000 in origination value.
Applicant Income
The Farmers & Merchants State Bank lent most frequently to those with incomes in the $50k or less range, with 298 originations. The second most popular income band? $50k-75k, with 211 originations.
Applicant Debt to Income Ratio
The Farmers & Merchants State Bank lent most frequently to those with DTI ratios of 20-30%, with 288 originations. The next most common DTI ratio? 30-36%, with 171 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.14%
The Farmers & Merchants State Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.16%
The Farmers & Merchants State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,172 | $227,040,000 | $193,720 |