Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2006
In 2006, Farmers & Merchants Bank of Timberville, VA reported 281 mortgage applications totaling $31.8 million, down 18% from 2005. The average application was for $113,174, and applicants reported an average income of $59,259. 93% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Harrisonburg, VA (202) and Washington-Arlington-Alexandria, DC-VA-MD-WV (1).
| Mortgage Company & Address | Farmers & Merchants Bank Po Box 1111 Timberville, VA 22853 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 281 |
| Total Mortgage Loan Application Amount | $31,802,000 |
| Average Mortgage Loan Application Amount | $113,174 |
| Highest Mortgage Loan Application Amount | $600,000 |
| Average Applicant Income | $59,259 |
| Highest Applicant Income | $224,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Rockingham, Virginia | 177 | $ 19,748,000 | $ 111,570 | $ 59,000 |
| Shenandoah, Virginia | 33 | $ 3,412,000 | $ 103,393 | $ 62,000 |
| Harrisonburg, Virginia | 25 | $ 3,697,000 | $ 147,880 | $ 38,000 |
| Augusta, Virginia | 16 | $ 1,928,000 | $ 120,500 | $ 74,000 |
| Hardy, West Virginia | 14 | $ 1,597,000 | $ 114,071 | $ 71,000 |
| Page, Virginia | 11 | $ 880,000 | $ 80,000 | $ 64,000 |
| Staunton, Virginia | 3 | $ 244,000 | $ 81,333 | $ 30,000 |
| Spotsylvania, Virginia | 1 | $ 196,000 | $ 196,000 | $ 100,000 |
| Pendleton, West Virginia | 1 | $ 100,000 | $ 100,000 | $ 52,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2006
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 132 | $13,383,000 | $101,000 | $350,000 | $54,000 | $188,000 |
| Home Purchase | 118 | $17,320,000 | $146,000 | $600,000 | $66,000 | $224,000 |
| Home Improvement | 31 | $1,099,000 | $35,000 | $138,000 | $56,000 | $164,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 261 | $29,103,000 | $111,000 | $600,000 | $62,000 | $224,000 |
| Not applicable | 12 | $2,026,000 | $168,000 | $464,000 | $0 | $0 |
| Black or African American | 3 | $193,000 | $64,000 | $93,000 | $54,000 | $77,000 |
| Hispanic | 3 | $287,000 | $95,000 | $169,000 | $47,000 | $88,000 |
| Asian | 1 | $120,000 | $120,000 | $120,000 | $48,000 | $48,000 |
| Not Provided | 1 | $73,000 | $73,000 | $73,000 | $27,000 | $27,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 281 | $31,802,000 | $113,000 | $600,000 | $59,000 | $224,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 261 | $29,825,000 | $114,000 | $600,000 | $60,000 | $224,000 |
| Application Denied By Financial Institution | 11 | $1,058,000 | $96,000 | $205,000 | $55,000 | $126,000 |
| Application Withdrawn By Applicant | 5 | $408,000 | $81,000 | $169,000 | $34,000 | $56,000 |
| Application Approved But Not Accepted | 3 | $461,000 | $153,000 | $170,000 | $37,000 | $43,000 |
| File Closed For Incompleteness | 1 | $50,000 | $50,000 | $50,000 | $35,000 | $35,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 4 | $302,000 | $75,000 | $180,000 | $37,000 | $51,000 |
| Collateral | 3 | $392,000 | $130,000 | $205,000 | $83,000 | $126,000 |
| Credit Application Incomplete | 1 | $73,000 | $73,000 | $73,000 | $27,000 | $27,000 |
| Credit History | 1 | $85,000 | $85,000 | $85,000 | $68,000 | $68,000 |
| Unverifiable Information | 1 | $80,000 | $80,000 | $80,000 | $48,000 | $48,000 |
| Employment History | 1 | $126,000 | $126,000 | $126,000 | $64,000 | $64,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Bank's 2006 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Farmers & Merchants Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Virginia, download the full spreadsheet
with aggregated HMDA statistics today.
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