Farmers And Merchants Bank Mortgage Rates, Fees & Info

LaOtto, IN

LEI: 549300A6T9G3QXH9KZ27

Tax ID: 35-0303207

Latest/2023 | 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 And Merchants Bank is a smaller bank specializing in Refi and 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, Angola, and Kokomo among others. We have data for 6 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.

    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

    104

    Origination Dollar Volume (All Markets)

    $15,620,000

    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) 61 $9,125,000 $149,590 $0 0.00%
    Kendallville, IN (FHA|USDA|VA) 27 $3,445,000 $127,593 $0 0.00%
    Auburn, IN (FHA|USDA|VA) 10 $2,140,000 $214,000 $0 0.00%
    Outside of Metro Areas 4 $630,000 $157,500 $0 0.00%
    Angola, IN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    KOKOMO, IN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Farmers And Merchants Bank's top markets include Fort Wayne, Kendallville, Auburn, Angola, and Kokomo among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $15,620,000 $150,192 $0 0.00%

    For 2021, Farmers And Merchants Bank's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 58 $7,910,000 $136,379 $0 0.00%
    Home Purchase 35 $6,345,000 $181,286 $0 0.00%
    Other 8 $1,180,000 $147,500 $0 0.00%
    Home Improvement 3 $185,000 $61,667 $0 0.00%

    For 2021, Farmers And Merchants Bank's most frequently cited loan purpose was Refi, with 58 originations. The 2nd most popular reason was Home Purchase, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 104 $15,620,000 $150,192 $0 0.00%

    For 2021, Farmers And Merchants Bank's most frequently cited loan duration was Other, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 43 $5,855,000 $136,163 $0 0.00%
    $100,000 or less 41 $2,555,000 $62,317 $0 0.00%
    $200k-400k 15 $3,775,000 $251,667 $0 0.00%
    $600k-1MM 3 $2,385,000 $795,000 $0 0.00%
    $400k-600k 2 $1,050,000 $525,000 $0 0.00%

    2021 saw Farmers And Merchants Bank place emphasis on $100k-200k loans with 43 originations, totaling $5,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 26 $3,000,000 $115,385 $0 0.00%
    $100k-150k 20 $3,000,000 $150,000 $0 0.00%
    $50k or less 16 $1,290,000 $80,625 $0 0.00%
    $75k-100k 15 $2,225,000 $148,333 $0 0.00%
    $150k-250k 9 $3,535,000 $392,778 $0 0.00%
    $250k+ 1 $45,000 $45,000 $0 0.00%

    Farmers And Merchants Bank lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $100k-150k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 104 $15,620,000 $150,192 $0 0.00%

    Farmers And Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 88 $13,120,000 $149,091 $0 0.00%
    Not applicable 14 $2,230,000 $159,286 $0 0.00%
    American Indian 2 $270,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.96%

    Farmers And Merchants Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.35%

    Farmers And Merchants Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 104 $15,620,000 $150,192

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    104 $15,620,000 $150,192