F & M Bank Mortgage Rates, Fees & Info
Edmond, OKLEI: 549300X2FI65C4A30O27
Tax ID: 73-0236480
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Mortgage Data
Review & Overview
F & M Bank is a smaller bank specializing in Home Purchase loans. F & M Bank 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: Oklahoma City, Ardmore, Dallas, Riverside, and Tulsa among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)F & M Bank 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.65% | 11/3/24 |
30 Year Conventional Refi | 6.63% | 11/3/24 |
30 Year Cash-out Refi | 6.83% | 11/3/24 |
30 Year FHA Purchase | 7.30% | 11/3/24 |
30 Year FHA Refi | 7.18% | 11/3/24 |
30 Year VA Purchase | 6.20% | 11/3/24 |
30 Year USDA Purchase | 6.77% | 11/3/24 |
15 Year Conventional Purchase | 5.92% | 11/3/24 |
15 Year Conventional Refi | 6.19% | 11/3/24 |
15 Year Cash-out Refi | 6.19% | 11/3/24 |
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 Mortgage Calculator
Your Estimates
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This is not an official calculator from F & M Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
341Origination Dollar Volume (All Markets)
$85,455,000F & M Bank - 2023
F & M Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
F & M Bank's average 30 year fixed mortgage rate was
6.71%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.23%.
Relative Fees (Closing Costs)
F & M Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,440.
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 |
---|---|---|---|---|---|
OKLAHOMA CITY, OK (FHA|USDA|VA) | 261 | $66,455,000 | $254,617 | $4,872 | 6.98% |
Outside of Metro Areas | 27 | $4,995,000 | $185,000 | $4,058 | 7.16% |
Ardmore, OK (FHA|USDA|VA) | 8 | $1,810,000 | $226,250 | $6,207 | 6.88% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $1,515,000 | $303,000 | $9,544 | 6.30% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $1,450,000 | $725,000 | $0 | 6.81% |
TULSA, OK (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $7,561 | 7.08% |
Stillwater, OK (FHA|USDA|VA) | 5 | $825,000 | $165,000 | $6,905 | 7.48% |
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 7.88% |
Shawnee, OK (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $5,784 | 6.75% |
AMARILLO, TX (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $6,689 | 6.38% |
Altus, OK (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $6,021 | 7.16% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $9,365 | 6.25% |
Woodward, OK (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $5,482 | 7.88% |
VICTORIA, TX (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $6,191 | 6.75% |
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $5,365 | 6.38% |
Guymon, OK (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $5,535 | 6.71% |
Ponca City, OK (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $4,941 | 7.33% |
ENID, OK (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,136 | 6.88% |
Roswell, NM (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,001 | 6.88% |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,470 | 6.49% |
WICHITA, KS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,619 | 7.25% |
McAlester, OK (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,244 | 6.63% |
LONGVIEW, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $10,760 | 6.88% |
Duncan, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,823 | 7.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against F & M Bank 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 2023, F & M Bank's most frequently originated type of loan was Conventional, with 251 originations. Their 2nd most popular type was FHA, with 52 originations.
Loan Reason
For 2023, F & M Bank's most frequently cited loan purpose was Home Purchase, with 255 originations. The 2nd most popular reason was Refi, with 45 originations.
Loan Duration/Length
For 2023, F & M Bank's most frequently cited loan duration was 30 Year, with 268 originations. The 2nd most popular length was 20 Year, with 32 originations.
Origination Fees/Closing Costs
F & M Bank's average total fees were $5,440, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 102 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 184 | $48,670,000 | $264,511 |
7-8% | 77 | $18,495,000 | $240,195 |
Over 8% | 41 | $6,805,000 | $165,976 |
5-6% | 38 | $11,180,000 | $294,211 |
4-5% | 1 | $305,000 | $305,000 |
During 2023, F & M Bank's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 184 originations.
Loan Sizing
2023 saw F & M Bank place emphasis on $200k-400k loans with 148 originations, totaling $42,150,000 in origination value.
Applicant Income
F & M Bank lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $50k-75k, with 69 originations.
Applicant Debt to Income Ratio
F & M Bank lent most frequently to those with DTI ratios of 30-36%, with 70 originations. The next most common DTI ratio? 20-30%, with 62 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.03%
F & M Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.01%
F & M Bank has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 341 | $85,455,000 | $250,601 |