F & M Bank Corp. Mortgage Rates, Fees & InfoTIMBERVILLE, VA
Tax ID: 54-0208040
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewF & 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, 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.78%||9/25/23|
|30 Year Conventional Refi||6.69%||9/25/23|
|30 Year FHA Purchase||7.49%||9/25/23|
|30 Year FHA Refi||7.54%||9/25/23|
|30 Year VA Purchase||6.67%||9/25/23|
|30 Year USDA Purchase||6.23%||9/25/23|
|15 Year Conventional Purchase||6.13%||9/25/23|
|15 Year Conventional Refi||6.37%||9/25/23|
|15 Year Cash-out Refi||6.37%||9/25/23|
|15 Year VA Purchase||6.23%||9/25/23|
|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.|
F & M Bank Corp. Mortgage Calculator
Your EstimatesEstimated 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™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$142,010,000
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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F & M Bank Corp.'s average 30 year fixed mortgage rate was
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.
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%|
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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
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.
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.
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
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
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.
|Loan Rate||Originations||Total Value||Average Loan|
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.
2022 saw F & M Bank Corp. place emphasis on $200k-400k loans with 263 originations, totaling $73,095,000 in origination value.
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.
Approval RatesTotal approvals of all applications
F & M Bank Corp. has an average approval rate.
Pick RateApprovals leading to origination
F & M Bank Corp. has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|