F & M Bank Corp. Mortgage Rates, Fees & Info

TIMBERVILLE, VA

LEI: 549300V2YLC1I721HE07

Tax ID: 54-0208040

5 stars - Updated: 7/11/24 - out of 5 stars, based on 19 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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, Charlottesville, and Washington among others. We have data for 20 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.78% 7/11/24
30 Year Conventional Refi 6.69% 7/11/24
30 Year FHA Purchase 7.49% 7/11/24
30 Year FHA Refi 7.54% 7/11/24
30 Year VA Purchase 6.67% 7/11/24
30 Year USDA Purchase 6.23% 7/11/24
15 Year Conventional Purchase 6.13% 7/11/24
15 Year Conventional Refi 6.37% 7/11/24
15 Year Cash-out Refi 6.37% 7/11/24
15 Year VA Purchase 6.23% 7/11/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from F & M Bank Corp.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

355

Origination Dollar Volume (All Markets)

$106,195,000

Awards

F & M BANK CORP. 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

F & M Bank Corp.'s average 30 year fixed mortgage rate was 6.64%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.16%.

Relative Fees (Closing Costs)

F & M Bank Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $4,863.

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 $9,089.

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) 170 $46,690,000 $274,647 $4,609 6.61%
Outside of Metro Areas 75 $25,875,000 $345,000 $6,040 6.78%
STAUNTON, VA (FHA|USDA|VA) 58 $16,730,000 $288,448 $5,021 6.57%
WINCHESTER, VA-WV (FHA|USDA|VA) 16 $4,800,000 $300,000 $5,464 6.29%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 10 $3,200,000 $320,000 $5,995 6.31%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 7 $2,585,000 $369,286 $6,129 6.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,535,000 $1,535,000 $10,230 7.00%
LYNCHBURG, VA (FHA|USDA|VA) 4 $1,030,000 $257,500 $3,873 6.91%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $515,000 $515,000 $3,509 7.63%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $460,000 $230,000 $3,168 6.31%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $425,000 $425,000 $0 6.63%
Danville, VA (FHA|USDA|VA) 2 $410,000 $205,000 $18,389 7.38%
WILMINGTON, NC (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $295,000 $295,000 $0 6.75%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $285,000 $285,000 $4,013 7.63%
NEW BERN, NC (FHA|USDA|VA) 1 $255,000 $255,000 $8,663 5.63%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $245,000 $245,000 $3,355 6.38%
Shelby, NC (FHA|USDA|VA) 1 $215,000 $215,000 $2,998 7.00%
BECKLEY, WV (FHA|USDA|VA) 1 $185,000 $185,000 $3,046 6.25%
MORRISTOWN, TN (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.63%
F & M Bank Corp.'s top markets include Harrisonburg, Staunton, Winchester, Charlottesville, and Washington among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • 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.

    PARK VIEW FEDERAL CREDIT UNION
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    DUPONT COMMUNITY
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    Similarity Rank: 580
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    Similarity Rank: 867
    FIRST BANCORP
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    C & F Mortgage Corporation
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    Atlantic Coast Mortgage, LLC
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 329 $99,045,000 $301,049 $4,638 6.60%
    FHA 22 $5,820,000 $264,545 $9,879 6.81%
    VA 3 $1,055,000 $351,667 $11,049 6.83%
    USDA 1 $275,000 $275,000 $12,286 6.38%

    For 2023, F & M Bank Corp.'s most frequently originated type of loan was Conventional, with 329 originations. Their 2nd most popular type was FHA, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 313 $96,935,000 $309,696 $5,338 6.59%
    Refi 31 $6,735,000 $217,258 $3,708 6.83%
    Home Improvement 5 $625,000 $125,000 $1,312 6.64%
    Other 4 $170,000 $42,500 $559 7.34%
    Cash Out Refi 2 $1,730,000 $865,000 $0 0.00%

    For 2023, F & M Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 313 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 274 $76,490,000 $279,161 $4,863 6.64%
    30+ year 53 $23,955,000 $451,981 $8,979 6.46%
    Other 11 $3,445,000 $313,182 $452 7.17%
    10 Year 7 $455,000 $65,000 $455 7.23%
    15 Year 7 $1,515,000 $216,429 $3,553 5.91%
    20 Year 3 $335,000 $111,667 $4,777 6.44%

    For 2023, F & M Bank Corp.'s most frequently cited loan duration was 30 Year, with 274 originations. The 2nd most popular length was 30+ year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 151 $40,675,000 $269,371
    $5k+ 50 $22,010,000 $440,200
    $2k-3k 47 $12,955,000 $275,638
    $3k-4k 30 $10,120,000 $337,333
    $4k-5k 30 $12,250,000 $408,333
    $<1k 19 $975,000 $51,316

    F & M Bank Corp.'s average total fees were $4,863, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 151 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 172 $52,330,000 $304,244
    7-8% 79 $17,715,000 $224,241
    5-6% 77 $26,835,000 $348,506
    4-5% 11 $4,115,000 $374,091
    Over 8% 3 $1,075,000 $358,333

    During 2023, F & M Bank Corp.'s average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 6-7%, with 172 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 192 $53,720,000 $279,792 $5,406 6.67%
    $100k-200k 58 $8,840,000 $152,414 $3,889 6.45%
    $400k-600k 54 $25,680,000 $475,556 $6,898 6.42%
    $100,000 or less 30 $1,490,000 $49,667 $1,604 7.14%
    $600k-1MM 19 $13,425,000 $706,579 $8,160 6.37%
    $1MM+ 2 $3,040,000 $1,520,000 $10,230 7.00%

    2023 saw F & M Bank Corp. place emphasis on $200k-400k loans with 192 originations, totaling $53,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 84 $27,880,000 $331,905 $5,676 6.55%
    $50k-75k 81 $15,915,000 $196,481 $4,347 6.76%
    $75k-100k 74 $19,280,000 $260,541 $5,227 6.61%
    $150k-250k 54 $22,300,000 $412,963 $6,005 6.67%
    $50k or less 29 $3,845,000 $132,586 $3,412 6.49%
    $250k+ 24 $13,480,000 $561,667 $6,433 6.44%

    F & M Bank Corp. lent most frequently to those with incomes in the $100k-150k range, with 84 originations. The second most popular income band? $50k-75k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 73 $19,635,000 $268,973 $4,760 6.66%
    20-30% 56 $14,870,000 $265,536 $4,470 6.55%
    44% 27 $8,715,000 $322,778 $5,519 6.50%
    40% 25 $8,365,000 $334,600 $5,166 6.59%
    41% 23 $7,955,000 $345,870 $6,060 6.63%
    42% 19 $6,475,000 $340,789 $5,728 6.53%
    37% 15 $5,185,000 $345,667 $4,802 6.37%
    <20% 14 $2,460,000 $175,714 $3,065 6.80%
    38% 14 $4,000,000 $285,714 $4,719 6.81%
    39% 14 $4,180,000 $298,571 $4,704 6.73%
    36% 13 $3,555,000 $273,462 $3,532 6.60%
    43% 11 $3,865,000 $351,364 $7,181 6.72%
    47% 9 $2,895,000 $321,667 $7,143 7.01%
    50-60% 8 $2,430,000 $303,750 $7,744 6.80%
    45% 7 $2,645,000 $377,857 $4,623 6.95%
    49% 6 $1,680,000 $280,000 $8,631 6.00%
    46% 5 $1,355,000 $271,000 $4,565 6.48%
    48% 5 $1,585,000 $317,000 $6,103 6.40%
    >60% 2 $850,000 $425,000 $0 7.13%

    F & M Bank Corp. lent most frequently to those with DTI ratios of 30-36%, with 73 originations. The next most common DTI ratio? 20-30%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 322 $95,470,000 $296,491 $5,085 6.63%
    Not applicable 9 $3,495,000 $388,333 $0 0.00%
    Black 9 $2,535,000 $281,667 $6,477 6.56%
    Not provided 6 $2,000,000 $333,333 $4,618 6.64%
    Asian 7 $1,915,000 $273,571 $4,402 6.34%
    American Indian 2 $780,000 $390,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    94.72%

    F & M Bank Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.01%

    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 355 $106,195,000 $299,141

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    355 $106,195,000 $299,141

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $6,190,000 $281,364 $3,236 6.66%
    40-60% 42 $10,570,000 $251,667 $5,095 6.33%
    60-80% 87 $24,415,000 $280,632 $5,278 6.59%
    80-100% 183 $63,225,000 $345,492 $5,677 6.63%
    Over 100% 3 $1,015,000 $338,333 $8,188 6.83%
    Under 20% 18 $780,000 $43,333 $656 7.25%