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

Nashville, IL

LEI: 549300OA8B0OLDA16R42

Tax ID: 37-0269515

Latest/2024 | 2023 Data | 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

    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 two markets are St. Louis and Mount Vernon .

    The Farmers And Merchants National Bank Of Nashville 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

    53

    Origination Dollar Volume (All Markets)

    $7,955,000

    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
    Outside of Metro Areas 39 $4,815,000 $123,462 $0 0.00%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 12 $2,740,000 $228,333 $0 0.00%
    Mount Vernon, IL (FHA|USDA|VA) 2 $400,000 $200,000 $0 0.00%
    The Farmers And Merchants National Bank Of Nashville's top markets include St. Louis and Mount Vernon among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 53 $7,955,000 $150,094 $0 0.00%

    For 2024, The Farmers And Merchants National Bank Of Nashville's most frequently originated type of loan was Conventional, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 24 $3,710,000 $154,583 $0 0.00%
    Refi 13 $1,575,000 $121,154 $0 0.00%
    Cash Out Refi 8 $920,000 $115,000 $0 0.00%
    Home Improvement 7 $1,175,000 $167,857 $0 0.00%
    Other 1 $575,000 $575,000 $0 0.00%

    For 2024, The Farmers And Merchants National Bank Of Nashville's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 53 $7,955,000 $150,094 $0 0.00%

    For 2024, The Farmers And Merchants National Bank Of Nashville's most frequently cited loan duration was Other, with 53 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 21 $1,095,000 $52,143 $0 0.00%
    $100k-200k 20 $2,700,000 $135,000 $0 0.00%
    $200k-400k 8 $2,100,000 $262,500 $0 0.00%
    $400k-600k 4 $2,060,000 $515,000 $0 0.00%

    2024 saw The Farmers And Merchants National Bank Of Nashville place emphasis on $100,000 or less loans with 21 originations, totaling $1,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $2,300,000 $143,750 $0 0.00%
    $50k-75k 10 $920,000 $92,000 $0 0.00%
    $150k-250k 8 $1,050,000 $131,250 $0 0.00%
    $50k or less 6 $420,000 $70,000 $0 0.00%
    $75k-100k 5 $725,000 $145,000 $0 0.00%
    $250k+ 2 $540,000 $270,000 $0 0.00%

    The Farmers And Merchants National Bank Of Nashville lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 53 $7,955,000 $150,094 $0 0.00%

    The Farmers And Merchants National Bank Of Nashville lent most frequently to those with DTI ratios of Exempt%, with 53 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 46 $5,840,000 $126,957 $0 0.00%
    Not applicable 6 $2,000,000 $333,333 $0 0.00%
    Asian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.24%

    The Farmers And Merchants National Bank Of Nashville 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
    86.79%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 53 $7,955,000 $150,094

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    53 $7,955,000 $150,094