F & M Bank Corp. Mortgage Rates, Fees & Info
TIMBERVILLE, VALEI: 549300V2YLC1I721HE07
Tax ID: 54-0208040
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Mortgage Data
Review & Overview
F & M Bank Corp. is a smaller bank specializing in Home Purchase loans. F & M Bank Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Harrisonburg, Staunton, Winchester, Washington, and Port St. Lucie among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)F & M Bank Corp. 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. F & M Bank Corp. is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.99% | 5/25/25 |
| 30 Year Conventional Refi | 6.87% | 5/25/25 |
| 30 Year Cash-out Refi | 6.90% | 5/25/25 |
| 30 Year FHA Purchase | 7.40% | 5/25/25 |
| 30 Year FHA Refi | 7.23% | 5/25/25 |
| 30 Year VA Purchase | 6.81% | 5/25/25 |
| 30 Year USDA Purchase | 7.12% | 5/25/25 |
| 15 Year Conventional Purchase | 6.01% | 5/25/25 |
| 15 Year Conventional Refi | 8.22% | 5/25/25 |
| 15 Year Cash-out Refi | 8.22% | 5/25/25 |
| 15 Year FHA Refi | 6.00% | 5/25/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
F & M Bank Corp. Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
363Origination Dollar Volume (All Markets)
$105,235,000Awards
F & M BANK CORP. - 2024
F & M BANK CORP. is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
F & M Bank Corp.'s average 30 year fixed mortgage rate was
6.88%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.33%.
Relative Fees (Closing Costs)
F & M Bank Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $5,546.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| HARRISONBURG, VA (FHA|USDA|VA) | 188 | $51,670,000 | $274,840 | $5,519 | 6.93% |
| Outside of Metro Areas | 69 | $21,665,000 | $313,986 | $4,933 | 7.11% |
| STAUNTON, VA (FHA|USDA|VA) | 71 | $17,585,000 | $247,676 | $5,344 | 6.98% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 13 | $5,205,000 | $400,385 | $6,417 | 7.08% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $2,690,000 | $672,500 | $13,007 | 6.62% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $1,475,000 | $1,475,000 | $6,271 | 7.75% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $5,336 | 6.96% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 4 | $1,220,000 | $305,000 | $10,343 | 6.72% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $6,939 | 7.19% |
| ROANOKE, VA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $4,639 | 7.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $3,167 | 7.69% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $957 | 7.09% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,912 | 7.25% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,356 | 6.50% |
| Danville, VA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $6,174 | 7.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against F & M BANK CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2024, F & M Bank Corp.'s most frequently originated type of loan was Conventional, with 305 originations. Their 2nd most popular type was FHA, with 45 originations.
Loan Reason
For 2024, F & M Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 328 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
For 2024, F & M Bank Corp.'s most frequently cited loan duration was 30 Year, with 290 originations. The 2nd most popular length was 30+ year, with 50 originations.
Origination Fees/Closing Costs
F & M Bank Corp.'s average total fees were $5,546, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 170 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 169 | $43,285,000 | $256,124 |
| 7-8% | 155 | $52,935,000 | $341,516 |
| 5-6% | 22 | $4,840,000 | $220,000 |
| Over 8% | 9 | $1,795,000 | $199,444 |
| 4-5% | 1 | $565,000 | $565,000 |
During 2024, F & M Bank Corp.'s average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 6-7%, with 169 originations.
Loan Sizing
2024 saw F & M Bank Corp. place emphasis on $200k-400k loans with 207 originations, totaling $60,425,000 in origination value.
Applicant Income
F & M Bank Corp. lent most frequently to those with incomes in the $100k-150k range, with 93 originations. The second most popular income band? $50k-75k, with 79 originations.
Applicant Debt to Income Ratio
F & M Bank Corp. lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.78%
F & M Bank Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination69.15%
F & M Bank Corp. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 363 | $105,235,000 | $289,904 |