Farmers & Merchants Bank Of South Carolina Mortgage Rates, Fees & Info
HOLLY HILL, SCLEI: 254900Y0OOKETVQMUW35
Tax ID: 57-0161795
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 Of South Carolina is a smaller bank specializing in Refi and Home Purchase loans. Farmers & Merchants Bank Of South Carolina has a high proportion of conventional loans. Their top markets by origination volume include: Charleston, Orangeburg, and Columbia among others. We have data for 4 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.
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Originations
22Origination Dollar Volume (All Markets)
$2,490,000Top 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 |
|---|---|---|---|---|---|
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 13 | $1,725,000 | $132,692 | $0 | 0.00% |
| Orangeburg, SC (FHA|USDA|VA) | 7 | $705,000 | $100,714 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 0.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 22 | $2,490,000 | $113,182 | $0 | 0.00% |
For 2024, Farmers & Merchants Bank Of South Carolina's most frequently originated type of loan was Conventional, with 22 originations.
Loan Reason
For 2024, Farmers & Merchants Bank Of South Carolina's most frequently cited loan purpose was Refi, with 9 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 22 | $2,490,000 | $113,182 | $0 | 0.00% |
For 2024, Farmers & Merchants Bank Of South Carolina's most frequently cited loan duration was Other, with 22 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 12 | $670,000 | $55,833 | $0 | 0.00% |
| $100k-200k | 7 | $875,000 | $125,000 | $0 | 0.00% |
| $200k-400k | 3 | $945,000 | $315,000 | $0 | 0.00% |
2024 saw Farmers & Merchants Bank Of South Carolina place emphasis on $100,000 or less loans with 12 originations, totaling $670,000 in origination value.
Applicant Income
Farmers & Merchants Bank Of South Carolina lent most frequently to those with incomes in the $50k-75k range, with 8 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% | 22 | $2,490,000 | $113,182 | $0 | 0.00% |
Farmers & Merchants Bank Of South Carolina lent most frequently to those with DTI ratios of Exempt%, with 22 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 16 | $2,000,000 | $125,000 | $0 | 0.00% |
| Black | 5 | $335,000 | $67,000 | $0 | 0.00% |
| Not applicable | 1 | $155,000 | $155,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications88.00%
Farmers & Merchants Bank Of South Carolina has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 22 | $2,490,000 | $113,182 |