The Farmers & Merchants Bank Mortgage Rates, Fees & Info

Stuttgart, AR

LEI: 54930009DUZUXUZIDL84

Tax ID: 71-0203044

5 stars - Updated: 4/5/25 - out of 5 stars, based on 18 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    The Farmers & Merchants Bank is a smaller bank specializing in Home Purchase loans. The Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fayetteville, Mountain Home, Little Rock, Jonesboro, and Paragould among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Farmers & Merchants 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 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.62% 4/5/25
    30 Year Conventional Refi 7.24% 4/5/25
    15 Year Conventional Purchase 6.00% 4/5/25
    15 Year Conventional Refi 6.01% 4/5/25
    15 Year Cash-out Refi 6.01% 4/5/25
    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 Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from The Farmers & Merchants Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    326

    Origination Dollar Volume (All Markets)

    $81,320,000

    Awards

    The Farmers & Merchants Bank 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    The Farmers & Merchants Bank's average 30 year fixed mortgage rate was 6.56%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.01%.

    Relative Fees (Closing Costs)

    The Farmers & Merchants Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,596.

    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 $8,356.

    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
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 61 $41,565,000 $681,393 $2,945 7.90%
    Outside of Metro Areas 155 $15,155,000 $97,774 $1,655 8.55%
    Mountain Home, AR (FHA|USDA|VA) 63 $12,155,000 $192,937 $1,460 8.02%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 15 $6,095,000 $406,333 $3,306 8.09%
    JONESBORO, AR (FHA|USDA|VA) 15 $2,425,000 $161,667 $2,425 7.75%
    Paragould, AR (FHA|USDA|VA) 4 $920,000 $230,000 $1,704 8.26%
    Oxford, MS (FHA|USDA|VA) 1 $715,000 $715,000 $4,447 7.95%
    HOT SPRINGS, AR (FHA|USDA|VA) 2 $650,000 $325,000 $1,947 7.19%
    Batesville, AR (FHA|USDA|VA) 4 $620,000 $155,000 $1,930 8.52%
    FORT SMITH, AR-OK (FHA|USDA|VA) 2 $430,000 $215,000 $1,950 7.62%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $365,000 $365,000 $4,187 6.63%
    Searcy, AR (FHA|USDA|VA) 1 $115,000 $115,000 $2,207 6.38%
    PINE BLUFF, AR (FHA|USDA|VA) 2 $110,000 $55,000 $1,139 9.38%
    The Farmers & Merchants Bank's top markets include Fayetteville, Mountain Home, Little Rock, Jonesboro, and Paragould among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Farmers & Merchants Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 168
    First Security Bank
    Similarity Rank: 360
    First National Bank
    Similarity Rank: 361
    Priority Bank
    Similarity Rank: 567
    Generations Bank
    Similarity Rank: 672
    Southern Bank
    Similarity Rank: 1062
    Firstar Bank
    Similarity Rank: 1320
    ARKANSAS Federal Credit Union
    Similarity Rank: 1326
    SENTE MORTGAGE, INC.
    Similarity Rank: 1610
    The First National Bank of Fort Smith
    Similarity Rank: 1734

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 326 $81,320,000 $249,448 $1,967 8.24%

    For 2024, The Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 326 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 199 $65,215,000 $327,714 $2,243 7.98%
    Refi 57 $11,835,000 $207,632 $2,149 8.18%
    Home Improvement 44 $2,500,000 $56,818 $1,232 8.94%
    Other 26 $1,770,000 $68,077 $1,281 9.15%

    For 2024, The Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 199 originations. The 2nd most popular reason was Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 140 $14,940,000 $106,714 $1,457 9.14%
    10 Year 99 $24,895,000 $251,465 $2,363 6.90%
    3 Year 42 $8,550,000 $203,571 $0 8.56%
    1 Year 17 $2,805,000 $165,000 $0 8.68%
    5 Year 15 $27,635,000 $1,842,333 $119 8.77%
    30 Year 12 $2,380,000 $198,333 $3,596 6.56%
    15 Year 1 $115,000 $115,000 $2,207 6.38%

    For 2024, The Farmers & Merchants Bank's most frequently cited loan duration was Other, with 140 originations. The 2nd most popular length was 10 Year, with 99 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 156 $27,420,000 $175,769
    $1k-2k 47 $4,775,000 $101,596
    $2k-3k 13 $3,785,000 $291,154
    $3k-4k 7 $3,195,000 $456,429

    The Farmers & Merchants Bank's average total fees were $3,596, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 156 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 188 $42,280,000 $224,894
    7-8% 72 $18,670,000 $259,306
    6-7% 66 $20,370,000 $308,636

    During 2024, The Farmers & Merchants Bank's average interest rate for loans was 6.56%, while their most frequently originated rate bucket for loans was Over 8%, with 188 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 151 $7,165,000 $47,450 $1,361 9.03%
    $100k-200k 83 $12,145,000 $146,325 $2,014 7.82%
    $200k-400k 67 $18,605,000 $277,687 $2,487 7.37%
    $400k-600k 13 $6,295,000 $484,231 $3,841 6.96%
    $1MM+ 6 $33,230,000 $5,538,333 $3,743 7.08%
    $600k-1MM 6 $3,880,000 $646,667 $4,596 7.81%

    2024 saw The Farmers & Merchants Bank place emphasis on $100,000 or less loans with 151 originations, totaling $7,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 68 $4,430,000 $65,147 $1,301 8.69%
    $50k-75k 57 $5,575,000 $97,807 $1,819 8.42%
    $100k-150k 51 $10,375,000 $203,431 $2,088 7.77%
    $75k-100k 41 $5,195,000 $126,707 $1,960 8.31%
    $150k-250k 32 $9,440,000 $295,000 $2,733 7.50%
    $250k+ 16 $8,770,000 $548,125 $3,329 7.19%

    The Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 68 originations. The second most popular income band? $50k-75k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 58 $9,030,000 $155,690 $1,986 8.13%
    30-36% 49 $8,535,000 $174,184 $2,262 7.95%
    <20% 27 $3,105,000 $115,000 $1,554 8.33%
    42% 22 $1,930,000 $87,727 $1,623 8.85%
    40% 17 $3,285,000 $193,235 $2,004 7.61%
    41% 14 $2,500,000 $178,571 $1,861 8.01%
    38% 12 $1,400,000 $116,667 $1,685 8.35%
    37% 11 $1,865,000 $169,545 $1,671 8.28%
    36% 11 $1,285,000 $116,818 $1,879 8.45%
    39% 10 $1,890,000 $189,000 $1,701 8.55%
    >60% 7 $3,365,000 $480,714 $3,161 7.91%
    50-60% 7 $2,415,000 $345,000 $1,834 8.08%
    43% 6 $1,280,000 $213,333 $2,171 7.59%
    49% 2 $350,000 $175,000 $4,543 6.69%
    44% 2 $710,000 $355,000 $1,827 6.84%
    46% 1 $245,000 $245,000 $4,129 6.88%
    47% 1 $225,000 $225,000 $0 7.63%

    The Farmers & Merchants Bank lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 30-36%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 51 $36,695,000 $719,510 $2,065 8.55%
    White 240 $34,380,000 $143,250 $1,934 8.22%
    Not provided 22 $6,230,000 $283,182 $2,170 7.84%
    Asian Indian 3 $3,095,000 $1,031,667 $4,016 6.68%
    Asian 3 $595,000 $198,333 $1,284 7.72%
    Black 6 $200,000 $33,333 $1,282 8.80%
    American Indian 1 $125,000 $125,000 $0 9.05%

    Approval Rates

    Total approvals of all applications
    83.88%

    The Farmers & Merchants Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.90%

    The Farmers & Merchants Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 326 $81,320,000 $249,448

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    326 $81,320,000 $249,448

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $3,785,000 $77,245 $1,473 8.77%
    40-60% 43 $8,085,000 $188,023 $2,183 7.94%
    60-80% 90 $40,000,000 $444,444 $2,200 8.29%
    80-100% 103 $27,585,000 $267,816 $2,268 7.71%
    Over 100% 2 $420,000 $210,000 $0 8.19%
    Under 20% 39 $1,445,000 $37,051 $1,137 9.19%