Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2018
In 2018, Farmers & Merchants Bank of Timberville, VA reported 754 mortgage applications totaling $139.7 million, up 7% from 2017. The average application was for $185,278, and applicants reported an average income of $83,283. 76% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Harrisonburg, VA (430), Staunton-Waynesboro, VA (161) and Lynchburg, VA (9) (applications in parentheses).
| 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 | 754 |
| Total Mortgage Loan Application Amount | $139,700,000 |
| Average Mortgage Loan Application Amount | $185,278 |
| Highest Mortgage Loan Application Amount | $1,505,000 |
| Average Applicant Income | $83,283 |
| Highest Applicant Income | $944,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 311 | $ 56,035,000 | $ 180,176 | $ 76,000 |
| Augusta, Virginia | 119 | $ 23,975,000 | $ 201,470 | $ 85,000 |
| Harrisonburg, Virginia | 119 | $ 20,335,000 | $ 170,882 | $ 90,000 |
| Shenandoah, Virginia | 77 | $ 15,805,000 | $ 205,259 | $ 92,000 |
| Page, Virginia | 27 | $ 4,585,000 | $ 169,814 | $ 94,000 |
| Staunton, Virginia | 26 | $ 3,370,000 | $ 129,615 | $ 67,000 |
| Waynesboro, Virginia | 16 | $ 3,240,000 | $ 202,500 | $ 77,000 |
| Campbell, Virginia | 4 | $ 740,000 | $ 185,000 | $ 69,000 |
| Fairfax, Virginia | 4 | $ 820,000 | $ 205,000 | $ 79,000 |
| Nelson, Virginia | 4 | $ 680,000 | $ 170,000 | $ 85,000 |
| Bedford, Virginia | 3 | $ 795,000 | $ 265,000 | $ 125,000 |
| Mecklenburg, Virginia | 3 | $ 465,000 | $ 155,000 | $ 57,000 |
| Albemarle, Virginia | 2 | $ 440,000 | $ 220,000 | $ 126,000 |
| Louisa, Virginia | 2 | $ 140,000 | $ 70,000 | $ 130,000 |
| Northumberland, Virginia | 2 | $ 390,000 | $ 195,000 | $ 175,000 |
| Rockbridge, Virginia | 2 | $ 260,000 | $ 130,000 | $ 67,000 |
| Hardy, West Virginia | 2 | $ 210,000 | $ 105,000 | $ 32,000 |
| Sussex, Delaware | 1 | $ 425,000 | $ 425,000 | $ 664,000 |
| Talbot, Maryland | 1 | $ 225,000 | $ 225,000 | $ 90,000 |
| Washington, Maryland | 1 | $ 365,000 | $ 365,000 | $ 126,000 |
| Brunswick, North Carolina | 1 | $ 635,000 | $ 635,000 | $ 245,000 |
| Catawba, North Carolina | 1 | $ 155,000 | $ 155,000 | $ 39,000 |
| Dare, North Carolina | 1 | $ 325,000 | $ 325,000 | $ 121,000 |
| Iredell, North Carolina | 1 | $ 165,000 | $ 165,000 | $ 69,000 |
| Rowan, North Carolina | 1 | $ 145,000 | $ 145,000 | $ 99,000 |
| Amherst, Virginia | 1 | $ 115,000 | $ 115,000 | $ 48,000 |
| Appomattox, Virginia | 1 | $ 205,000 | $ 205,000 | $ 53,000 |
| Bath, Virginia | 1 | $ 115,000 | $ 115,000 | $ 60,000 |
| Brunswick, Virginia | 1 | $ 105,000 | $ 105,000 | $ 36,000 |
| Charlotte, Virginia | 1 | $ 265,000 | $ 265,000 | $ 116,000 |
| Chesterfield, Virginia | 1 | $ 315,000 | $ 315,000 | $ 135,000 |
| Clarke, Virginia | 1 | $ 685,000 | $ 685,000 | $ 153,000 |
| Fauquier, Virginia | 1 | $ 195,000 | $ 195,000 | $ 75,000 |
| Frederick, Virginia | 1 | $ 105,000 | $ 105,000 | $ 34,000 |
| Halifax, Virginia | 1 | $ 295,000 | $ 295,000 | $ 94,000 |
| Henrico, Virginia | 1 | $ 185,000 | $ 185,000 | $ 63,000 |
| James City, Virginia | 1 | $ 165,000 | $ 165,000 | $ 35,000 |
| King George, Virginia | 1 | $ 175,000 | $ 175,000 | $ 43,000 |
| Lunenburg, Virginia | 1 | $ 85,000 | $ 85,000 | $ 30,000 |
| Madison, Virginia | 1 | $ 255,000 | $ 255,000 | $ 87,000 |
| Orange, Virginia | 1 | $ 205,000 | $ 205,000 | $ 105,000 |
| Prince William, Virginia | 1 | $ 355,000 | $ 355,000 | $ 127,000 |
| Richmond City, Virginia | 1 | $ 215,000 | $ 215,000 | $ 33,000 |
| Roanoke, Virginia | 1 | $ 165,000 | $ 165,000 | $ 75,000 |
| Spotsylvania, Virginia | 1 | $ 285,000 | $ 285,000 | $ 98,000 |
| Warren, Virginia | 1 | $ 95,000 | $ 95,000 | $ 48,000 |
| Winchester, Virginia | 1 | $ 95,000 | $ 95,000 | $ 0 |
| Pendleton, West Virginia | 1 | $ 295,000 | $ 295,000 | $ 103,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2018
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 578 | $110,670,000 | $191,000 | $1,505,000 | $84,000 | $944,000 |
| Refinancing | 134 | $24,370,000 | $181,000 | $755,000 | $81,000 | $562,000 |
| Home Improvement | 30 | $3,210,000 | $107,000 | $305,000 | $84,000 | $182,000 |
| Cash-out Refinancing | 6 | $850,000 | $141,000 | $285,000 | $70,000 | $95,000 |
| Other Purpose | 6 | $600,000 | $100,000 | $235,000 | $75,000 | $138,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 609 | $114,965,000 | $188,000 | $1,505,000 | $85,000 | $944,000 |
| Hispanic | 78 | $11,160,000 | $143,000 | $305,000 | $61,000 | $238,000 |
| Not applicable | 29 | $6,305,000 | $217,000 | $755,000 | $0 | $0 |
| Black or African American | 18 | $3,730,000 | $207,000 | $455,000 | $82,000 | $237,000 |
| Asian | 15 | $3,075,000 | $205,000 | $375,000 | $111,000 | $214,000 |
| Not Provided | 3 | $315,000 | $105,000 | $165,000 | $52,000 | $75,000 |
| 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) | 606 | $113,940,000 | $188,000 | $1,505,000 | $90,000 | $944,000 |
| FHA-insured (Federal Housing Administration) | 91 | $15,355,000 | $168,000 | $295,000 | $56,000 | $159,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 36 | $5,940,000 | $165,000 | $305,000 | $50,000 | $83,000 |
| VA-guaranteed (Veterans Administration) | 21 | $4,465,000 | $212,000 | $405,000 | $73,000 | $138,000 |
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 | 576 | $106,130,000 | $184,000 | $1,505,000 | $82,000 | $944,000 |
| Application Withdrawn By Applicant | 113 | $22,035,000 | $195,000 | $855,000 | $90,000 | $562,000 |
| Application Denied By Financial Institution | 50 | $8,970,000 | $179,000 | $635,000 | $73,000 | $664,000 |
| Application Approved But Not Accepted | 11 | $1,725,000 | $156,000 | $325,000 | $94,000 | $304,000 |
| File Closed For Incompleteness | 4 | $840,000 | $210,000 | $305,000 | $67,000 | $120,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 704 | $130,730,000 | $185,000 | $1,505,000 | $84,000 | $944,000 |
| Debt-To-Income Ratio | 18 | $4,400,000 | $244,000 | $635,000 | $71,000 | $245,000 |
| Credit History | 14 | $2,060,000 | $147,000 | $235,000 | $52,000 | $110,000 |
| Collateral | 8 | $1,110,000 | $138,000 | $425,000 | $129,000 | $664,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $705,000 | $141,000 | $255,000 | $64,000 | $141,000 |
| Unverifiable Information | 3 | $515,000 | $171,000 | $235,000 | $58,000 | $91,000 |
| Other | 1 | $65,000 | $65,000 | $65,000 | $35,000 | $35,000 |
| Employment History | 1 | $115,000 | $115,000 | $115,000 | $74,000 | $74,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Bank's 2018 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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