Farmers & Merchants Bank Mortgage Rates, Fees & Info
Salisbury, NCLEI: 54930018CRFUH37BKR13
Tax ID: 56-0220355
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Farmers & Merchants Bank is a smaller bank specializing in Home Purchase loans. Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Raleigh, Durham, Albemarle, and Hilton Head Island among others. We have data for 10 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.
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Originations
78Origination Dollar Volume (All Markets)
$24,590,000Top 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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 59 | $16,575,000 | $280,932 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 8 | $4,390,000 | $548,750 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $1,190,000 | $595,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $555,000 | $555,000 | $0 | 0.00% |
| Albemarle, NC (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 78 | $24,590,000 | $315,256 | $0 | 0.00% |
For 2023, Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 78 originations.
Loan Reason
For 2023, Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 78 | $24,590,000 | $315,256 | $0 | 0.00% |
For 2023, Farmers & Merchants Bank's most frequently cited loan duration was Other, with 78 originations.
Loan Sizing
2023 saw Farmers & Merchants Bank place emphasis on $200k-400k loans with 24 originations, totaling $6,630,000 in origination value.
Applicant Income
Farmers & Merchants Bank lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $150k-250k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 78 | $24,590,000 | $315,256 | $0 | 0.00% |
Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.62%
Farmers & Merchants Bank has an average approval rate.
Pick Rate
Approvals leading to origination80.77%
Farmers & Merchants Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 78 | $24,590,000 | $315,256 |