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, Houston, and Ardmore among others. We have data for 38 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 12/16/24 |
| 30 Year Conventional Refi | 6.63% | 12/16/24 |
| 30 Year Cash-out Refi | 6.83% | 12/16/24 |
| 30 Year FHA Purchase | 7.30% | 12/16/24 |
| 30 Year FHA Refi | 7.18% | 12/16/24 |
| 30 Year VA Purchase | 6.20% | 12/16/24 |
| 30 Year USDA Purchase | 6.77% | 12/16/24 |
| 15 Year Conventional Purchase | 5.92% | 12/16/24 |
| 15 Year Conventional Refi | 6.19% | 12/16/24 |
| 15 Year Cash-out Refi | 6.19% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
536Origination Dollar Volume (All Markets)
$137,150,000Awards
F & M Bank - 2022
F & M Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 379 | $101,165,000 | $266,926 | $4,611 | 4.87% |
| Outside of Metro Areas | 55 | $12,255,000 | $222,818 | $4,259 | 4.95% |
| Ponca City, OK (FHA|USDA|VA) | 20 | $3,200,000 | $160,000 | $5,455 | 4.77% |
| Guymon, OK (FHA|USDA|VA) | 13 | $2,665,000 | $205,000 | $6,096 | 5.09% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $2,630,000 | $1,315,000 | $0 | 5.38% |
| Ardmore, OK (FHA|USDA|VA) | 14 | $2,610,000 | $186,429 | $4,888 | 4.67% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $5,547 | 5.17% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $7,345 | 5.00% |
| TULSA, OK (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $4,468 | 4.15% |
| ENID, OK (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $2,559 | 4.63% |
| Woodward, OK (FHA|USDA|VA) | 5 | $815,000 | $163,000 | $3,234 | 5.20% |
| Elk City, OK (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $4,254 | 4.50% |
| Roswell, NM (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,183 | 5.08% |
| Stillwater, OK (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $3,747 | 4.63% |
| Shawnee, OK (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,518 | 4.44% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $6,363 | 5.00% |
| Altus, OK (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $4,320 | 4.41% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $10,301 | 7.13% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $10,084 | 4.63% |
| McAlester, OK (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,879 | 4.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,269 | 6.25% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $10,593 | 5.25% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,564 | 6.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,897 | 3.50% |
| Paris, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,841 | 3.88% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,758 | 3.50% |
| WACO, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,731 | 5.50% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,891 | 3.63% |
| TYLER, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,355 | 3.50% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.25% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,662 | 5.13% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $186 | 4.75% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $105 | 5.63% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,426 | 3.38% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,103 | 6.13% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,155 | 3.65% |
| Bonham, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,895 | 3.38% |
| Borger, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,663 | 4.88% |
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 2022, F & M Bank's most frequently originated type of loan was Conventional, with 418 originations. Their 2nd most popular type was FHA, with 69 originations.
Loan Reason
For 2022, F & M Bank's most frequently cited loan purpose was Home Purchase, with 364 originations. The 2nd most popular reason was Refi, with 105 originations.
Loan Duration/Length
For 2022, F & M Bank's most frequently cited loan duration was 30 Year, with 427 originations. The 2nd most popular length was 15 Year, with 37 originations.
Origination Fees/Closing Costs
F & M Bank's average total fees were $4,886, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 256 originations.
Interest Rates
During 2022, F & M Bank's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 5-6%, with 179 originations.
Loan Sizing
2022 saw F & M Bank place emphasis on $200k-400k loans with 236 originations, totaling $65,840,000 in origination value.
Applicant Income
F & M Bank lent most frequently to those with incomes in the $50k-75k range, with 128 originations. The second most popular income band? $100k-150k, with 122 originations.
Applicant Debt to Income Ratio
F & M Bank lent most frequently to those with DTI ratios of 20-30%, with 104 originations. The next most common DTI ratio? 30-36%, with 99 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.54%
F & M Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.02%
F & M Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 536 | $137,150,000 | $255,877 |