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 and Refi 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, Ponca City, Guymon, Shawnee, 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 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 | 6.90% | 7/7/25 |
| 30 Year Conventional Refi | 6.98% | 7/7/25 |
| 30 Year Cash-out Refi | 7.23% | 7/7/25 |
| 30 Year FHA Purchase | 7.16% | 7/7/25 |
| 30 Year FHA Refi | 6.72% | 7/7/25 |
| 30 Year VA Purchase | 6.43% | 7/7/25 |
| 30 Year VA Refi | 6.37% | 7/7/25 |
| 30 Year USDA Purchase | 7.10% | 7/7/25 |
| 15 Year Conventional Purchase | 6.38% | 7/7/25 |
| 15 Year Conventional Refi | 6.28% | 7/7/25 |
| 15 Year Cash-out Refi | 6.28% | 7/7/25 |
| 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
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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
366Origination Dollar Volume (All Markets)
$89,770,000Awards
F & M Bank - 2024
F & M Bank is a 2024 , due to their low .
For 2024, 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
6.76%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
F & M Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,151.
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 $8,356.
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) | 289 | $72,025,000 | $249,221 | $4,647 | 7.27% |
| Outside of Metro Areas | 30 | $6,690,000 | $223,000 | $5,301 | 7.16% |
| Ponca City, OK (FHA|USDA|VA) | 9 | $1,345,000 | $149,444 | $4,758 | 6.86% |
| Guymon, OK (FHA|USDA|VA) | 5 | $1,165,000 | $233,000 | $6,417 | 6.75% |
| Shawnee, OK (FHA|USDA|VA) | 5 | $1,095,000 | $219,000 | $3,963 | 7.03% |
| TULSA, OK (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $4,579 | 7.62% |
| Ardmore, OK (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $5,776 | 6.59% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $23,030 | 6.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $13,094 | 6.38% |
| Altus, OK (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $4,877 | 6.96% |
| ENID, OK (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 10.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $5,966 | 6.50% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $13,564 | 6.50% |
| Ada, OK (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $6,377 | 6.94% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $8,704 | 6.50% |
| Durant, OK (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,923 | 6.38% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,285 | 6.63% |
| Gillette, WY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,146 | 6.63% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,659 | 6.63% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,676 | 6.13% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 9.00% |
| Woodward, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,612 | 6.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.13% |
| Weatherford, OK (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,816 | 6.25% |
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 2024, F & M Bank's most frequently originated type of loan was Conventional, with 280 originations. Their 2nd most popular type was FHA, with 51 originations.
Loan Reason
For 2024, F & M Bank's most frequently cited loan purpose was Home Purchase, with 257 originations. The 2nd most popular reason was Refi, with 65 originations.
Loan Duration/Length
For 2024, F & M Bank's most frequently cited loan duration was 30 Year, with 283 originations. The 2nd most popular length was 20 Year, with 44 originations.
Origination Fees/Closing Costs
F & M Bank's average total fees were $5,151, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 135 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 208 | $56,780,000 | $272,981 |
| Over 8% | 74 | $12,670,000 | $171,216 |
| 7-8% | 57 | $12,145,000 | $213,070 |
| 5-6% | 26 | $8,000,000 | $307,692 |
| 3-4% | 1 | $175,000 | $175,000 |
During 2024, F & M Bank's average interest rate for loans was 6.76%, while their most frequently originated rate bucket for loans was 6-7%, with 208 originations.
Loan Sizing
2024 saw F & M Bank place emphasis on $100k-200k loans with 134 originations, totaling $20,310,000 in origination value.
Applicant Income
F & M Bank lent most frequently to those with incomes in the $150k-250k range, with 90 originations. The second most popular income band? $50k-75k, with 63 originations.
Applicant Debt to Income Ratio
F & M Bank lent most frequently to those with DTI ratios of 30-36%, with 67 originations. The next most common DTI ratio? 20-30%, with 65 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.32%
F & M Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.60%
F & M Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 366 | $89,770,000 | $245,273 |