Farmers And Merchants Bank Mortgage Rates, Fees & Info
LaOtto, INLEI: 549300A6T9G3QXH9KZ27
Tax ID: 35-0303207
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Farmers And Merchants Bank is a smaller bank specializing in Home Purchase loans. Farmers And Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fort Wayne, Kendallville, Auburn, Warsaw, and Angola among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers And Merchants Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
74Origination Dollar Volume (All Markets)
$18,660,000Top 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 |
|---|---|---|---|---|---|
| FORT WAYNE, IN (FHA|USDA|VA) | 37 | $8,165,000 | $220,676 | $0 | 0.00% |
| Kendallville, IN (FHA|USDA|VA) | 23 | $6,765,000 | $294,130 | $0 | 0.00% |
| Auburn, IN (FHA|USDA|VA) | 9 | $1,855,000 | $206,111 | $0 | 0.00% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $945,000 | $945,000 | $0 | 0.00% |
| Angola, IN (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $0 | 0.00% |
| Huntington, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 74 | $18,660,000 | $252,162 | $0 | 0.00% |
For 2023, Farmers And Merchants Bank's most frequently originated type of loan was Conventional, with 74 originations.
Loan Reason
For 2023, Farmers And Merchants Bank's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 74 | $18,660,000 | $252,162 | $0 | 0.00% |
For 2023, Farmers And Merchants Bank's most frequently cited loan duration was Other, with 74 originations.
Loan Sizing
2023 saw Farmers And Merchants Bank place emphasis on $100k-200k loans with 25 originations, totaling $3,595,000 in origination value.
Applicant Income
Farmers And Merchants Bank lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 74 | $18,660,000 | $252,162 | $0 | 0.00% |
Farmers And Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 74 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 65 | $16,925,000 | $260,385 | $0 | 0.00% |
| Not applicable | 9 | $1,735,000 | $192,778 | $0 | 0.00% |
Approval Rates
Total approvals of all applications98.78%
Farmers And Merchants Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.54%
Farmers And Merchants Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 74 | $18,660,000 | $252,162 |