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 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, Washington, Winchester, and Charlottesville among others. We have data for 26 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 an average 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 | 6.78% | 3/27/23 |
| 30 Year Conventional Refi | 6.69% | 3/27/23 |
| 30 Year FHA Purchase | 7.49% | 3/27/23 |
| 30 Year FHA Refi | 7.54% | 3/27/23 |
| 30 Year VA Purchase | 6.67% | 3/27/23 |
| 30 Year USDA Purchase | 6.23% | 3/27/23 |
| 15 Year Conventional Purchase | 6.13% | 3/27/23 |
| 15 Year Conventional Refi | 6.37% | 3/27/23 |
| 15 Year Cash-out Refi | 6.37% | 3/27/23 |
| 15 Year VA Purchase | 6.23% | 3/27/23 |
| 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. | ||
Originations
524Origination Dollar Volume (All Markets)
$142,010,000Awards
F & M BANK CORP. - 2022
F & M BANK CORP. is a 2022 , due to their low .
For 2022, 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
4.78%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.02%.
Relative Fees (Closing Costs)
F & M Bank Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $4,963.
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 $4,750.
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) | 294 | $76,420,000 | $259,932 | $4,258 | 4.62% |
| Outside of Metro Areas | 82 | $20,480,000 | $249,756 | $5,154 | 5.02% |
| STAUNTON, VA (FHA|USDA|VA) | 78 | $19,960,000 | $255,897 | $4,726 | 4.91% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 9 | $6,135,000 | $681,667 | $11,141 | 4.80% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 14 | $4,610,000 | $329,286 | $5,215 | 5.22% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 13 | $3,775,000 | $290,385 | $6,356 | 4.95% |
| ROANOKE, VA (FHA|USDA|VA) | 5 | $2,025,000 | $405,000 | $9,525 | 4.73% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $1,815,000 | $1,815,000 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 8 | $1,660,000 | $207,500 | $5,570 | 4.61% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,907 | 5.44% |
| NEW BERN, NC (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $8,707 | 4.06% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $12,675 | 3.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $8,889 | 4.75% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $12,611 | 4.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $6,216 | 5.63% |
| Forest City, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,768 | 3.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,278 | 4.99% |
| Shelby, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,068 | 4.63% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,675 | 7.00% |
| Mount Gay-Shamrock, WV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,419 | 6.25% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,034 | 6.50% |
| Danville, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,375 | 4.88% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,434 | 4.13% |
| Washington, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,122 | 3.50% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,102 | 5.50% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,126 | 3.75% |
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 2022, F & M Bank Corp.'s most frequently originated type of loan was Conventional, with 465 originations. Their 2nd most popular type was FHA, with 45 originations.
Loan Reason
For 2022, F & M Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 438 originations. The 2nd most popular reason was Refi, with 73 originations.
Loan Duration/Length
For 2022, F & M Bank Corp.'s most frequently cited loan duration was 30 Year, with 404 originations. The 2nd most popular length was Other, with 40 originations.
Origination Fees/Closing Costs
F & M Bank Corp.'s average total fees were $4,963, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 245 originations.
Interest Rates
During 2022, F & M Bank Corp.'s average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 155 originations.
Loan Sizing
2022 saw F & M Bank Corp. place emphasis on $200k-400k loans with 263 originations, totaling $73,095,000 in origination value.
Applicant Income
F & M Bank Corp. lent most frequently to those with incomes in the $50k-75k range, with 128 originations. The second most popular income band? $100k-150k, with 111 originations.
Applicant Debt to Income Ratio
F & M Bank Corp. lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 86 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.55%
F & M Bank Corp. has an average approval rate.
Pick Rate
Approvals leading to origination80.73%
F & M Bank Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 524 | $142,010,000 | $271,011 |