Farmers And Merchants Bank Mortgage Rates, Fees & Info

LaOtto, IN

LEI: 549300A6T9G3QXH9KZ27

Tax ID: 35-0303207

Latest/2023 | 2022 Data | 2021 Data | 2020 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

74

Origination Dollar Volume (All Markets)

$18,660,000

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
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%
Farmers And Merchants Bank's top markets include Fort Wayne, Kendallville, Auburn, Warsaw, and Angola among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 37 $12,935,000 $349,595 $0 0.00%
    Refi 25 $2,835,000 $113,400 $0 0.00%
    Other 9 $2,425,000 $269,444 $0 0.00%
    Home Improvement 3 $465,000 $155,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 25 $3,595,000 $143,800 $0 0.00%
    $100,000 or less 21 $1,235,000 $58,810 $0 0.00%
    $200k-400k 16 $4,350,000 $271,875 $0 0.00%
    $600k-1MM 8 $6,070,000 $758,750 $0 0.00%
    $1MM+ 2 $2,450,000 $1,225,000 $0 0.00%
    $400k-600k 2 $960,000 $480,000 $0 0.00%

    2023 saw Farmers And Merchants Bank place emphasis on $100k-200k loans with 25 originations, totaling $3,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 14 $3,480,000 $248,571 $0 0.00%
    $50k-75k 13 $1,975,000 $151,923 $0 0.00%
    $75k-100k 13 $2,425,000 $186,538 $0 0.00%
    $150k-250k 10 $2,840,000 $284,000 $0 0.00%
    $250k+ 7 $5,555,000 $793,571 $0 0.00%
    $50k or less 6 $390,000 $65,000 $0 0.00%

    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 applications
    98.78%

    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 origination
    90.54%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    74 $18,660,000 $252,162