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

HOLLY HILL, SC

LEI: 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

33

Origination Dollar Volume (All Markets)

$2,835,000

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
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%
Farmers & Merchants Bank Of South Carolina's top markets include Charleston and Orangeburg 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 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 12 $1,500,000 $125,000 $0 0.00%
    Refi 11 $895,000 $81,364 $0 0.00%
    Cash Out Refi 6 $340,000 $56,667 $0 0.00%
    Home Improvement 3 $75,000 $25,000 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 12 $690,000 $57,500 $0 0.00%
    $75k-100k 9 $1,275,000 $141,667 $0 0.00%
    $50k or less 6 $320,000 $53,333 $0 0.00%
    $100k-150k 4 $470,000 $117,500 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 25 $2,585,000 $103,400 $0 0.00%
    Black 6 $200,000 $33,333 $0 0.00%
    Not applicable 1 $35,000 $35,000 $0 0.00%
    American Indian 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    73.33%

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

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 33 $2,835,000 $85,909

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 14 $800,000 $57,143
    Single Family (1-4 Units):Site-Built 19 $2,035,000 $107,105