The Farmers And Merchants Bank Mortgage Rates, Fees & Info

Boswell, IN

LEI: 549300OHTBYVLLO8NW69

Tax ID: 35-0303200

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

    The Farmers And Merchants Bank is a smaller bank specializing in Home Purchase loans. The Farmers And Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Fort Wayne, and Frankfort among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Farmers And Merchants Bank has an 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

    34

    Origination Dollar Volume (All Markets)

    $4,990,000

    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
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 30 $4,340,000 $144,667 $0 0.00%
    Outside of Metro Areas 2 $360,000 $180,000 $0 0.00%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Frankfort, IN (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    The Farmers And Merchants Bank's top markets include Lafayette, Fort Wayne, and Frankfort among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $4,990,000 $146,765 $0 0.00%

    For 2022, The Farmers And Merchants Bank's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 16 $3,110,000 $194,375 $0 0.00%
    Other 7 $765,000 $109,286 $0 0.00%
    Home Improvement 6 $300,000 $50,000 $0 0.00%
    Refi 5 $815,000 $163,000 $0 0.00%

    For 2022, The Farmers And Merchants Bank's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Other, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $4,990,000 $146,765 $0 0.00%

    For 2022, The Farmers And Merchants Bank's most frequently cited loan duration was Other, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 16 $770,000 $48,125 $0 0.00%
    $100k-200k 10 $1,430,000 $143,000 $0 0.00%
    $200k-400k 6 $1,820,000 $303,333 $0 0.00%
    $400k-600k 2 $970,000 $485,000 $0 0.00%

    2022 saw The Farmers And Merchants Bank place emphasis on $100,000 or less loans with 16 originations, totaling $770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 8 $1,030,000 $128,750 $0 0.00%
    $75k-100k 8 $740,000 $92,500 $0 0.00%
    $100k-150k 6 $930,000 $155,000 $0 0.00%
    $150k-250k 5 $1,005,000 $201,000 $0 0.00%
    $50k or less 3 $125,000 $41,667 $0 0.00%
    $250k+ 1 $465,000 $465,000 $0 0.00%

    The Farmers And Merchants Bank lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $75k-100k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 34 $4,990,000 $146,765 $0 0.00%

    The Farmers And Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 27 $4,155,000 $153,889 $0 0.00%
    Not provided 5 $525,000 $105,000 $0 0.00%
    Not applicable 2 $310,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.22%

    The Farmers And Merchants Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    97.06%

    The Farmers And Merchants Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 34 $4,990,000 $146,765

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    34 $4,990,000 $146,765