The Farmers And Merchants National Bank Of Nashville Mortgage Rates, Fees & Info

Nashville, IL

LEI: 549300OA8B0OLDA16R42

Tax ID: 37-0269515

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Mortgage Data

Review & Overview

The Farmers And Merchants National Bank Of Nashville is a smaller bank specializing in Home Purchase loans. The Farmers And Merchants National Bank Of Nashville has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Cape Coral, Mount Vernon, and Centralia among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Farmers And Merchants National Bank Of Nashville 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

64

Origination Dollar Volume (All Markets)

$12,770,000

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 22 $6,120,000 $278,182 $0 0.00%
Outside of Metro Areas 38 $5,380,000 $141,579 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $855,000 $855,000 $0 0.00%
Mount Vernon, IL (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
Centralia, IL (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
The Farmers And Merchants National Bank Of Nashville's top markets include St. Louis, Cape Coral, Mount Vernon, and Centralia among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 64 $12,770,000 $199,531 $0 0.00%

    For 2023, The Farmers And Merchants National Bank Of Nashville's most frequently originated type of loan was Conventional, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 38 $10,120,000 $266,316 $0 0.00%
    Cash Out Refi 8 $840,000 $105,000 $0 0.00%
    Home Improvement 6 $450,000 $75,000 $0 0.00%
    Other 6 $750,000 $125,000 $0 0.00%
    Refi 6 $610,000 $101,667 $0 0.00%

    For 2023, The Farmers And Merchants National Bank Of Nashville's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 64 $12,770,000 $199,531 $0 0.00%

    For 2023, The Farmers And Merchants National Bank Of Nashville's most frequently cited loan duration was Other, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,540,000 $51,333 $0 0.00%
    $100k-200k 17 $2,315,000 $136,176 $0 0.00%
    $200k-400k 11 $3,275,000 $297,727 $0 0.00%
    $600k-1MM 3 $2,205,000 $735,000 $0 0.00%
    $1MM+ 2 $2,860,000 $1,430,000 $0 0.00%
    $400k-600k 1 $575,000 $575,000 $0 0.00%

    2023 saw The Farmers And Merchants National Bank Of Nashville place emphasis on $100,000 or less loans with 30 originations, totaling $1,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $1,365,000 $105,000 $0 0.00%
    $100k-150k 11 $1,405,000 $127,727 $0 0.00%
    $50k or less 8 $360,000 $45,000 $0 0.00%
    $150k-250k 7 $1,755,000 $250,714 $0 0.00%
    $250k+ 7 $4,645,000 $663,571 $0 0.00%
    $75k-100k 6 $460,000 $76,667 $0 0.00%

    The Farmers And Merchants National Bank Of Nashville lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 64 $12,770,000 $199,531 $0 0.00%

    The Farmers And Merchants National Bank Of Nashville lent most frequently to those with DTI ratios of Exempt%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 51 $9,955,000 $195,196 $0 0.00%
    Not applicable 12 $2,780,000 $231,667 $0 0.00%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.33%

    The Farmers And Merchants National Bank Of Nashville has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.63%

    The Farmers And Merchants National Bank Of Nashville has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 64 $12,770,000 $199,531

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    64 $12,770,000 $199,531