Farmers & Merchants Bank Of South Carolina Mortgage Rates, Fees & Info

HOLLY HILL, SC

LEI: 254900Y0OOKETVQMUW35

Tax ID: 57-0161795

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Farmers & Merchants Bank Of South Carolina is a smaller bank specializing in Home Purchase and Refi loans. Farmers & Merchants Bank Of South Carolina has a high proportion of conventional loans. Their top markets by origination volume include: Orangeburg, Charleston, and Columbia among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers & Merchants Bank Of South Carolina 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.

    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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    Originations

    25

    Origination Dollar Volume (All Markets)

    $3,095,000

    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
    Orangeburg, SC (FHA|USDA|VA) 11 $1,455,000 $132,273 $0 0.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 13 $1,255,000 $96,538 $0 0.00%
    COLUMBIA, SC (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
    Farmers & Merchants Bank Of South Carolina's top markets include Orangeburg, Charleston, and Columbia among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 25 $3,095,000 $123,800 $0 0.00%

    For 2023, Farmers & Merchants Bank Of South Carolina's most frequently originated type of loan was Conventional, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 11 $1,685,000 $153,182 $0 0.00%
    Refi 9 $925,000 $102,778 $0 0.00%
    Home Improvement 4 $410,000 $102,500 $0 0.00%
    Cash Out Refi 1 $75,000 $75,000 $0 0.00%

    For 2023, Farmers & Merchants Bank Of South Carolina's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 25 $3,095,000 $123,800 $0 0.00%

    For 2023, Farmers & Merchants Bank Of South Carolina's most frequently cited loan duration was Other, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 12 $620,000 $51,667 $0 0.00%
    $100k-200k 11 $1,815,000 $165,000 $0 0.00%
    $200k-400k 2 $660,000 $330,000 $0 0.00%

    2023 saw Farmers & Merchants Bank Of South Carolina place emphasis on $100,000 or less loans with 12 originations, totaling $620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 6 $570,000 $95,000 $0 0.00%
    $50k or less 6 $230,000 $38,333 $0 0.00%
    $100k-150k 4 $560,000 $140,000 $0 0.00%
    $150k-250k 4 $660,000 $165,000 $0 0.00%
    $250k+ 2 $560,000 $280,000 $0 0.00%
    $75k-100k 2 $330,000 $165,000 $0 0.00%

    Farmers & Merchants Bank Of South Carolina lent most frequently to those with incomes in the $50k-75k range, with 6 originations. The second most popular income band? $50k or less, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 25 $3,095,000 $123,800 $0 0.00%

    Farmers & Merchants Bank Of South Carolina lent most frequently to those with DTI ratios of Exempt%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 19 $2,575,000 $135,526 $0 0.00%
    Not applicable 1 $185,000 $185,000 $0 0.00%
    Asian 1 $175,000 $175,000 $0 0.00%
    Black 4 $160,000 $40,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.85%

    Farmers & Merchants Bank Of South Carolina has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.00%

    Farmers & Merchants Bank Of South Carolina has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 25 $3,095,000 $123,800

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    25 $3,095,000 $123,800