Farmers And Merchants Bank Mortgage Rates, Fees & Info
LaOtto, INLEI: 549300A6T9G3QXH9KZ27
Tax ID: 35-0303207
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Mortgage Data
Review & Overview
Farmers And Merchants Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers And Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fort Wayne, Kendallville, Angola, Auburn, and Warsaw among others. We have data for 5 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 a below average pick rate when compared to similar lenders.
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Originations
67Origination Dollar Volume (All Markets)
$11,705,000Top 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) | 34 | $5,890,000 | $173,235 | $0 | 0.00% |
| Kendallville, IN (FHA|USDA|VA) | 20 | $3,060,000 | $153,000 | $0 | 0.00% |
| Angola, IN (FHA|USDA|VA) | 3 | $1,445,000 | $481,667 | $0 | 0.00% |
| Auburn, IN (FHA|USDA|VA) | 9 | $985,000 | $109,444 | $0 | 0.00% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 67 | $11,705,000 | $174,701 | $0 | 0.00% |
For 2019, Farmers And Merchants Bank's most frequently originated type of loan was Conventional, with 67 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 43 | $8,575,000 | $199,419 | $0 | 0.00% |
| Refi | 23 | $3,065,000 | $133,261 | $0 | 0.00% |
| Other | 1 | $65,000 | $65,000 | $0 | 0.00% |
For 2019, Farmers And Merchants Bank's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 23 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 67 | $11,705,000 | $174,701 | $0 | 0.00% |
For 2019, Farmers And Merchants Bank's most frequently cited loan duration was Other, with 67 originations.
Loan Sizing
2019 saw Farmers And Merchants Bank place emphasis on $100,000 or less loans with 24 originations, totaling $1,570,000 in origination value.
Applicant Income
Farmers And Merchants Bank lent most frequently to those with incomes in the $75k-100k range, with 18 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% | 67 | $11,705,000 | $174,701 | $0 | 0.00% |
Farmers And Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 67 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.44%
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 origination86.57%
Farmers And Merchants Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 67 | $11,705,000 | $174,701 |