Farmers & Merchants Bank Of South Carolina Mortgage Rates, Fees & Info
HOLLY HILL, SCLEI: 254900Y0OOKETVQMUW35
Tax ID: 57-0161795
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Mortgage Data
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 two markets are Charleston and Orangeburg .Farmers & Merchants Bank Of South Carolina has an average approval rate when compared to the average across all lenders.
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Originations
33Origination Dollar Volume (All Markets)
$2,835,000Top 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) | 21 | $1,855,000 | $88,333 | $0 | 0.00% |
| Orangeburg, SC (FHA|USDA|VA) | 12 | $980,000 | $81,667 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 33 | $2,835,000 | $85,909 | $0 | 0.00% |
For 2019, Farmers & Merchants Bank Of South Carolina's most frequently originated type of loan was Conventional, with 33 originations.
Loan Reason
For 2019, Farmers & Merchants Bank Of South Carolina's most frequently cited loan purpose was Home Purchase, with 12 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 33 | $2,835,000 | $85,909 | $0 | 0.00% |
For 2019, Farmers & Merchants Bank Of South Carolina's most frequently cited loan duration was Other, with 33 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 22 | $970,000 | $44,091 | $0 | 0.00% |
| $100k-200k | 7 | $915,000 | $130,714 | $0 | 0.00% |
| $200k-400k | 4 | $950,000 | $237,500 | $0 | 0.00% |
2019 saw Farmers & Merchants Bank Of South Carolina place emphasis on $100,000 or less loans with 22 originations, totaling $970,000 in origination value.
Applicant Income
Farmers & Merchants Bank Of South Carolina lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $75k-100k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 33 | $2,835,000 | $85,909 | $0 | 0.00% |
Farmers & Merchants Bank Of South Carolina lent most frequently to those with DTI ratios of Exempt%, with 33 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.33%
Farmers & Merchants Bank Of South Carolina has a below average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 33 | $2,835,000 | $85,909 |