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

TIMBERVILLE, VA

LEI: 549300V2YLC1I721HE07

Tax ID: 54-0208040

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Bank 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, Washington, Lynchburg, and Charlottesville among others. We have data for 13 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.

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

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.78% 3/28/24
30 Year Conventional Refi 6.69% 3/28/24
30 Year FHA Purchase 7.49% 3/28/24
30 Year FHA Refi 7.54% 3/28/24
30 Year VA Purchase 6.67% 3/28/24
30 Year USDA Purchase 6.23% 3/28/24
15 Year Conventional Purchase 6.13% 3/28/24
15 Year Conventional Refi 6.37% 3/28/24
15 Year Cash-out Refi 6.37% 3/28/24
15 Year VA Purchase 6.23% 3/28/24
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

576

Origination Dollar Volume (All Markets)

$106,130,000

Employee count

156

Awards

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

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) 332 $58,780,000 $177,048 $3,339 4.70%
STAUNTON, VA (FHA|USDA|VA) 109 $20,705,000 $189,954 $3,974 4.75%
Outside of Metro Areas 105 $20,025,000 $190,714 $3,365 4.73%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $2,100,000 $262,500 $4,477 4.66%
LYNCHBURG, VA (FHA|USDA|VA) 8 $1,520,000 $190,000 $3,491 4.41%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $910,000 $227,500 $2,824 4.56%
RICHMOND, VA (FHA|USDA|VA) 2 $500,000 $250,000 $3,492 4.75%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $365,000 $365,000 $3,599 4.63%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $325,000 $325,000 $3,177 4.38%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $310,000 $155,000 $3,622 5.13%
Easton, MD (FHA|USDA|VA) 1 $225,000 $225,000 $3,120 4.38%
WINCHESTER, VA-WV (FHA|USDA|VA) 2 $200,000 $100,000 $3,451 4.88%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,638 4.50%
F & M Bank Corp.'s top markets include Harrisonburg, Staunton, Washington, Lynchburg, and Charlottesville among others.

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 475 $87,845,000 $184,937 $2,950 4.71%
    FHA 55 $9,635,000 $175,182 $5,871 4.79%
    USDA 29 $4,825,000 $166,379 $4,723 4.59%
    VA 17 $3,825,000 $225,000 $6,038 4.66%

    For 2018, F & M Bank Corp.'s most frequently originated type of loan was Conventional, with 475 originations. Their 2nd most popular type was FHA, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 465 $90,355,000 $194,312 $3,692 4.66%
    Refi 75 $11,825,000 $157,667 $2,713 4.83%
    Home Improvement 25 $2,735,000 $109,400 $2,035 5.14%
    Cash Out Refi 6 $850,000 $141,667 $1,844 4.93%
    Other 5 $365,000 $73,000 $1,500 5.34%

    For 2018, F & M Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 465 originations. The 2nd most popular reason was Refi, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 468 $89,680,000 $191,624 $3,678 4.70%
    20 Year 51 $8,505,000 $166,765 $2,400 4.68%
    15 Year 21 $4,475,000 $213,095 $2,935 4.36%
    10 Year 18 $1,140,000 $63,333 $936 5.57%
    Other 17 $2,295,000 $135,000 $1,607 4.74%
    5 Year 1 $35,000 $35,000 $779 4.99%

    For 2018, F & M Bank Corp.'s most frequently cited loan duration was 30 Year, with 468 originations. The 2nd most popular length was 20 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 255 $48,955,000 $191,980
    $1k-2k 178 $33,450,000 $187,921
    $2k-3k 38 $7,490,000 $197,105
    $3k-4k 17 $4,595,000 $270,294
    $4k-5k 3 $415,000 $138,333
    $5k+ 3 $995,000 $331,667

    F & M Bank Corp.'s average total fees were $3,678, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 255 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 402 $78,580,000 $195,473
    5-6% 71 $10,125,000 $142,606
    3-4% 32 $7,290,000 $227,813
    6-7% 4 $850,000 $212,500

    During 2018, F & M Bank Corp.'s average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 402 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 270 $41,120,000 $152,296 $3,598 4.67%
    $200k-400k 191 $50,555,000 $264,686 $3,960 4.64%
    $100,000 or less 99 $5,655,000 $57,121 $1,789 5.04%
    $400k-600k 12 $5,180,000 $431,667 $3,765 4.49%
    $600k-1MM 3 $2,115,000 $705,000 $4,920 5.41%
    $1MM+ 1 $1,505,000 $1,505,000 $714 4.99%

    2018 saw F & M Bank Corp. place emphasis on $100k-200k loans with 270 originations, totaling $41,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 172 $21,440,000 $124,651 $3,221 4.74%
    $50k-75k 141 $23,935,000 $169,752 $3,663 4.71%
    $100k-150k 98 $24,140,000 $246,327 $3,551 4.68%
    $75k-100k 93 $18,625,000 $200,269 $3,609 4.67%
    $150k-250k 33 $8,325,000 $252,273 $3,544 4.61%
    $250k+ 9 $3,375,000 $375,000 $2,921 4.83%

    F & M Bank Corp. lent most frequently to those with incomes in the $50k or less range, with 172 originations. The second most popular income band? $50k-75k, with 141 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 121 $22,205,000 $183,512 $3,512 4.69%
    30-36% 115 $20,485,000 $178,130 $3,355 4.75%
    <20% 44 $8,520,000 $193,636 $2,916 4.67%
    39% 29 $5,305,000 $182,931 $3,607 4.74%
    38% 25 $4,825,000 $193,000 $3,584 4.74%
    40% 22 $4,470,000 $203,182 $3,176 4.75%
    42% 20 $2,760,000 $138,000 $2,850 4.89%
    44% 20 $3,070,000 $153,500 $3,797 4.79%
    41% 18 $3,350,000 $186,111 $3,196 4.64%
    36% 18 $4,290,000 $238,333 $3,622 4.56%
    37% 17 $3,445,000 $202,647 $3,620 4.59%
    43% 15 $3,385,000 $225,667 $3,692 4.69%
    46% 14 $2,720,000 $194,286 $3,584 4.67%
    50-60% 13 $2,555,000 $196,538 $5,406 4.45%
    48% 10 $1,970,000 $197,000 $3,802 4.86%
    49% 9 $1,755,000 $195,000 $4,512 4.56%
    47% 5 $1,045,000 $209,000 $3,344 4.45%
    >60% 4 $1,080,000 $270,000 $2,208 4.68%
    45% 2 $290,000 $145,000 $5,443 5.13%

    F & M Bank Corp. lent most frequently to those with DTI ratios of 20-30%, with 121 originations. The next most common DTI ratio? 30-36%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 517 $94,185,000 $182,176 $3,468 4.70%
    Not applicable 28 $6,040,000 $215,714 $5,891 6.07%
    Black 14 $2,940,000 $210,000 $3,576 4.74%
    Asian 12 $2,530,000 $210,833 $3,977 4.57%
    Not provided 3 $285,000 $95,000 $1,884 5.41%
    Vietnamese 1 $115,000 $115,000 $0 0.00%
    Korean 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.37%

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

    Pick Rate

    Approvals leading to origination
    78.47%

    F & M Bank Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 576 $106,130,000 $184,253

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $285,000 $285,000
    Single Family (1-4 Units):Manufactured 18 $1,820,000 $101,111
    Single Family (1-4 Units):Site-Built 557 $104,025,000 $186,759

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $2,190,000 $78,214 $2,306 4.92%
    40-60% 54 $7,890,000 $146,111 $2,836 4.61%
    60-80% 170 $34,130,000 $200,765 $3,049 4.70%
    80-100% 291 $59,685,000 $205,103 $4,119 4.67%
    Over 100% 5 $845,000 $169,000 $5,735 4.12%
    Under 20% 28 $1,390,000 $49,643 $736 5.17%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers & Merchants Bank 100 Plaza Drive Bridgewater, VA 22812 Full Service B&M $70,457
    Farmers & Merchants Bank 120 South Main Street Edinburg, VA 22824 Full Service B&M $51,111
    Farmers & Merchants Bank 125 W. Craig Street Craigsville, VA 24430 Full Service B&M $6,090
    Farmers & Merchants Bank 126 North Timber Way Broadway, VA 22815 Full Service B&M $68,017
    Farmers & Merchants Bank 127 Rockingham Street Elkton, VA 22827 Full Service B&M $62,451
    Farmers & Merchants Bank 161 South Main Street Woodstock, VA 22664 Full Service B&M $42,580
    Farmers & Merchants Bank 165 New Market Timberville, VA 22853 Full Service B&M $139,958
    Farmers & Merchants Bank 200 Augusta Avenue Grottoes, VA 24441 Full Service B&M $3,014
    Farmers & Merchants Bank 2030 Legacy Lane Harrisonburg, VA 22801 Full Service B&M $31,705
    Farmers & Merchants Bank 2813 N Augusta Street Staunton, VA 24401 Full Service B&M $10,793
    Farmers & Merchants Bank 30 Gosnell Crossing Staunton, VA 24401 Full Service B&M $6,774
    Farmers & Merchants Bank 700 East Main Street Luray, VA 22835 Full Service B&M $11,120
    Farmers & Merchants Bank 80 Cross Keys Road Harrisonburg, VA 22801 Full Service B&M $64,666

    For 2018, F & M Bank Corp. had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $36,708
    Net interest income $31,876
    Total noninterest income $7,020
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,496
    Trading account gains and fees $0
    Additional Noninterest Income $5,524
    Pre-tax net operating income $10,139
    Securities gains (or losses, -) $0
    Income before extraordinary items $9,061
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,061
    Minority interest net income $10
    Net income $9,051
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,061

    F & M Bank Corp.'s gross interest income from loans was $36,708,000.
    F & M Bank Corp.'s net interest income from loans was $31,876,000.
    F & M Bank Corp.'s fee based income from loans was $1,496,000.
    F & M Bank Corp.'s net income from loans was $9,051,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,832
    Provision for credit losses $2,930
    Total noninterest expense $25,827
    Salaries and employee benefits $15,735
    Premises and equipment expense $2,072
    Additional noninterest expense $8,020
    Applicable income taxes $1,078
    Net charge-offs $3,734
    Cash dividends $8,874

    F & M Bank Corp.'s interest expense for loans was $4,832,000.
    F & M Bank Corp.'s payroll and benefits expense were $15,735,000.
    F & M Bank Corp.'s property, plant and equipment expenses $2,072,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 3.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.3%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $592,058
    Deposits held in domestic offices $592,058
    Deposits by Individuals, partnerships, and corporations $583,930
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $8,125
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $74,979
    Demand deposits $47,585
    Nontransaction accounts $517,079
    Money market deposit accounts (MMDAs) $249,386
    Other savings deposits (excluding MMDAs) $111,827
    Total time deposits $155,865
    Total time and savings deposits $544,473
    Noninterest-bearing deposits $47,585
    Interest-bearing deposits $544,473
    Retail deposits $577,640
    IRAs and Keogh plan accounts $23,832
    Brokered deposits $7,898
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $778,632
    Cash & Balances due from depository institutions $10,614
    Interest-bearing balances $1,374
    Total securities $8,412
    Federal funds sold & reverse repurchase $0
    Net loans and leases $689,469
    Loan and leases loss allowance $5,240
    Trading account assets $0
    Bank premises and fixed assets $17,386
    Other real estate owned $2,443
    Goodwill and other intangibles $2,791
    All other assets $47,517

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $778,632
    Total Liabilities $688,894
    Total deposits $592,058
    Interest-bearing deposits $544,473
    Deposits held in domestic offices $592,058
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $10,116
    Trading liabilities $0
    Other borrowed funds $70,210
    Subordinated debt $0
    All other liabilities $16,510

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $689,469
    Loan and leases loss allowance $5,240
    Total loans and leases (domestic) $694,709
    All real estate loans $495,754
    Real estate loans in domestic offices $495,754
    Construction and development loans $61,659
    Residential 1-4 family construction $18,420
    Other construction, all land development and other land $43,239
    Loans secured by nonfarm nonresidential properties $147,343
    Nonfarm nonresidential secured by owner-occupied properties $78,682
    Commercial real estate & other non-farm, non-residential $68,661
    Multifamily residential real estate $9,665
    1-4 family residential loans $260,058
    Farmland loans $17,029
    Loans held in foreign offices $0
    Farm loans $3,887
    Commercial and industrial loans $31,698
    To non-U.S. addressees $0
    Loans to individuals $104,397
    Credit card loans $3,184
    Related Plans $84
    Consumer Auto Loans $81,650
    Other loans to individuals $19,479
    All other loans & leases $58,973
    Loans to foreign governments and official institutions $0
    Other loans $52,502
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,344
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $5,090
    Non 1-4 family restructured loans & leases $4,206
    Total loans and leases (foreign) $0

    F & M BANK CORP. had $689,469,000 of loans outstanding in 2018. $495,754,000 of loans were in real estate loans. $61,659,000 of loans were in development loans. $9,665,000 of loans were in multifamily mortgage loans. $260,058,000 of loans were in 1-4 family mortgage loans. $3,887,000 of loans were in farm loans. $3,184,000 of loans were in credit card loans. $81,650,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 213 $51,741 $242,915
    Nonfarm, nonresidential loans - <$100k 38 $1,880 $49,474
    Nonfarm, nonresidential loans - $100-250k 75 $9,625 $128,333
    Nonfarm, nonresidential loans - $250k-1MM 100 $40,236 $402,360
    Commercial & Industrial, US addressed loans - <$1MM 511 $26,747 $52,342
    Commercial & Industrial, US addressed loans - <$100k 385 $8,623 $22,397
    Commercial & Industrial, US addressed loans - $100-250k 82 $7,692 $93,805
    Commercial & Industrial, US addressed loans - $250k-1MM 44 $10,432 $237,091
    Farmland loans - <$1MM 40 $5,152 $128,800
    Farmland loans - <$100k 14 $559 $39,929
    Farmland loans - $100-250k 14 $1,334 $95,286
    Farmland loans - $250k-1MM 12 $3,259 $271,583
    Agriculture operations loans - <$1MM 94 $3,887 $41,351
    Agriculture operations loans - <$100k 75 $1,385 $18,467
    Agriculture operations loans - $100-250k 11 $1,265 $115,000
    Agriculture operations loans - $250k-1MM 8 $1,237 $154,625