Farmers & Merchants Bank Mortgage Rates, Fees & Info

Salisbury, NC

LEI: 54930018CRFUH37BKR13

Tax ID: 56-0220355

Latest/2024 | 2023 Data | 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 is a smaller bank specializing in Home Purchase and Refi loans. Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Fayetteville, Raleigh, Winston, and Myrtle Beach among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    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

    57

    Origination Dollar Volume (All Markets)

    $16,805,000

    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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 49 $10,535,000 $215,000 $0 0.00%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $3,105,000 $3,105,000 $0 0.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 0.00%
    WINSTON-SALEM, NC (FHA|USDA|VA) 2 $720,000 $360,000 $0 0.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $535,000 $178,333 $0 0.00%
    Boone, NC (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Farmers & Merchants Bank's top markets include Charlotte, Fayetteville, Raleigh, Winston, and Myrtle Beach among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $16,805,000 $294,825 $0 0.00%

    For 2024, Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $7,250,000 $241,667 $0 0.00%
    Refi 14 $7,420,000 $530,000 $0 0.00%
    Cash Out Refi 10 $1,840,000 $184,000 $0 0.00%
    Home Improvement 3 $295,000 $98,333 $0 0.00%

    For 2024, Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 57 $16,805,000 $294,825 $0 0.00%

    For 2024, Farmers & Merchants Bank's most frequently cited loan duration was Other, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 21 $5,725,000 $272,619 $0 0.00%
    $100k-200k 20 $3,020,000 $151,000 $0 0.00%
    $100,000 or less 9 $645,000 $71,667 $0 0.00%
    $400k-600k 3 $1,425,000 $475,000 $0 0.00%
    $1MM+ 2 $4,610,000 $2,305,000 $0 0.00%
    $600k-1MM 2 $1,380,000 $690,000 $0 0.00%

    2024 saw Farmers & Merchants Bank place emphasis on $200k-400k loans with 21 originations, totaling $5,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 11 $1,775,000 $161,364 $0 0.00%
    $150k-250k 10 $3,320,000 $332,000 $0 0.00%
    $75k-100k 8 $1,320,000 $165,000 $0 0.00%
    $250k+ 6 $1,500,000 $250,000 $0 0.00%
    $50k or less 6 $540,000 $90,000 $0 0.00%
    $100k-150k 4 $950,000 $237,500 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $150k-250k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 57 $16,805,000 $294,825 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $8,890,000 $211,667 $0 0.00%
    Not applicable 12 $7,400,000 $616,667 $0 0.00%
    Black 2 $280,000 $140,000 $0 0.00%
    Not provided 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.53%

    Farmers & Merchants Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.18%

    Farmers & Merchants Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 57 $16,805,000 $294,825

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    57 $16,805,000 $294,825