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

TIMBERVILLE, VA

LEI: 549300V2YLC1I721HE07

Tax ID: 54-0208040

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, 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.

    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% 10/23/24
    30 Year Conventional Refi 6.69% 10/23/24
    30 Year FHA Purchase 7.49% 10/23/24
    30 Year FHA Refi 7.54% 10/23/24
    30 Year VA Purchase 6.67% 10/23/24
    30 Year USDA Purchase 6.23% 10/23/24
    15 Year Conventional Purchase 6.13% 10/23/24
    15 Year Conventional Refi 6.37% 10/23/24
    15 Year Cash-out Refi 6.37% 10/23/24
    15 Year VA Purchase 6.23% 10/23/24
    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

    524

    Origination Dollar Volume (All Markets)

    $142,010,000

    Awards

    F & M BANK CORP. 30 Year Conventional Loans silver F & M BANK CORP. FHA Loans silver F & M BANK CORP. 30 Year Conventional Loans bronze
    Show all (3) 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) 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%
    F & M Bank Corp.'s top markets include Harrisonburg, Staunton, Washington, Winchester, and Charlottesville among others.

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

    DUPONT COMMUNITY
    Similarity Rank: 55
    PARK VIEW FEDERAL CREDIT UNION
    Similarity Rank: 128
    City National Bank of West Virginia
    Similarity Rank: 185
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 558
    CBM Mortgage, Inc.
    Similarity Rank: 636
    F & M BANK CORP.
    Similarity Rank: 936
    MYCUMORTGAGE, LLC
    Similarity Rank: 1221
    TIDEWATER MORTGAGE SERVICES, INC.
    Similarity Rank: 1288
    C & F Mortgage Corporation
    Similarity Rank: 1722
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 1768

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 465 $127,335,000 $273,839 $4,235 4.77%
    FHA 45 $10,455,000 $232,333 $8,935 4.89%
    VA 9 $3,135,000 $348,333 $10,792 4.54%
    USDA 5 $1,085,000 $217,000 $6,409 3.55%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 438 $121,110,000 $276,507 $5,244 4.80%
    Refi 73 $18,025,000 $246,918 $3,056 4.42%
    Home Improvement 7 $2,425,000 $346,429 $1,915 6.02%
    Other 6 $450,000 $75,000 $1,442 5.16%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 404 $109,230,000 $270,371 $4,963 4.78%
    Other 40 $13,300,000 $332,500 $1,461 4.74%
    15 Year 25 $5,415,000 $216,600 $3,902 3.74%
    30+ year 25 $10,135,000 $405,400 $8,091 5.16%
    20 Year 16 $3,050,000 $190,625 $4,240 4.12%
    10 Year 14 $880,000 $62,857 $656 5.89%

    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
    $1k-2k 245 $63,265,000 $258,224
    $5k+ 59 $21,645,000 $366,864
    $2k-3k 56 $14,720,000 $262,857
    $<1k 44 $7,700,000 $175,000
    $3k-4k 31 $9,215,000 $297,258
    $4k-5k 27 $8,735,000 $323,519

    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

    Loan Rate Originations Total Value Average Loan
    4-5% 155 $44,005,000 $283,903
    5-6% 145 $38,765,000 $267,345
    3-4% 124 $32,030,000 $258,306
    6-7% 35 $7,595,000 $217,000
    2.5-3% 11 $2,895,000 $263,182
    7-8% 7 $1,985,000 $283,571
    <2.5% 2 $470,000 $235,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 263 $73,095,000 $277,928 $4,988 4.73%
    $100k-200k 151 $23,475,000 $155,464 $3,963 4.72%
    $400k-600k 54 $25,980,000 $481,111 $7,109 4.75%
    $100,000 or less 37 $2,135,000 $57,703 $1,674 5.23%
    $600k-1MM 16 $11,400,000 $712,500 $9,099 4.88%
    $1MM+ 3 $5,925,000 $1,975,000 $0 0.00%

    2022 saw F & M Bank Corp. place emphasis on $200k-400k loans with 263 originations, totaling $73,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 128 $27,570,000 $215,391 $4,237 4.67%
    $100k-150k 111 $35,145,000 $316,622 $4,779 4.89%
    $75k-100k 104 $24,350,000 $234,135 $4,739 4.73%
    $50k or less 69 $10,525,000 $152,536 $4,283 4.89%
    $150k-250k 59 $22,995,000 $389,746 $6,741 4.75%
    $250k+ 23 $13,075,000 $568,478 $7,082 4.62%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 109 $26,315,000 $241,422 $4,507 4.72%
    30-36% 86 $24,140,000 $280,698 $4,948 4.78%
    <20% 40 $10,230,000 $255,750 $4,354 4.33%
    41% 30 $8,340,000 $278,000 $4,677 4.89%
    39% 25 $8,045,000 $321,800 $5,042 4.88%
    44% 24 $6,830,000 $284,583 $5,207 4.83%
    36% 21 $5,715,000 $272,143 $4,905 4.58%
    40% 20 $5,330,000 $266,500 $5,174 4.98%
    43% 19 $4,885,000 $257,105 $5,052 4.95%
    37% 17 $3,375,000 $198,529 $4,303 4.99%
    42% 16 $5,410,000 $338,125 $4,712 5.19%
    38% 16 $4,240,000 $265,000 $3,659 4.51%
    46% 16 $3,710,000 $231,875 $4,789 4.73%
    50-60% 13 $5,345,000 $411,154 $7,279 4.95%
    48% 12 $2,860,000 $238,333 $5,576 5.08%
    49% 12 $3,440,000 $286,667 $6,238 5.02%
    47% 8 $2,660,000 $332,500 $6,019 4.44%
    45% 8 $2,500,000 $312,500 $5,112 4.53%
    >60% 2 $290,000 $145,000 $3,817 4.75%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 469 $126,435,000 $269,584 $4,734 4.76%
    Not applicable 28 $7,730,000 $276,071 $0 0.00%
    Black 14 $3,480,000 $248,571 $7,334 5.02%
    Not provided 8 $2,860,000 $357,500 $6,260 4.91%
    Asian 4 $1,330,000 $332,500 $10,442 4.72%
    American Indian 1 $175,000 $175,000 $2,148 4.88%

    Approval Rates

    Total approvals of all applications
    94.55%

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

    Pick Rate

    Approvals leading to origination
    80.73%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    524 $142,010,000 $271,011

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $6,075,000 $195,968 $2,681 4.77%
    40-60% 67 $15,045,000 $224,552 $3,613 4.44%
    60-80% 161 $46,735,000 $290,280 $5,012 4.71%
    80-100% 245 $71,465,000 $291,694 $5,366 4.85%
    Over 100% 4 $1,950,000 $487,500 $16,580 4.44%
    Under 20% 16 $740,000 $46,250 $927 5.44%