Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2020
In 2020, Farmers & Merchants Bank of Timberville, VA reported 1,229 mortgage applications totaling $261.2 million, up 45% from 2019. The average application was for $212,542, and applicants reported an average income of $90,375. 79% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Harrisonburg, VA (750), Staunton-Waynesboro, VA (182) and Washington-Arlington-Alexandria, DC-VA-MD-WV (17) (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 | 1,229 |
| Total Mortgage Loan Application Amount | $261,215,000 |
| Average Mortgage Loan Application Amount | $212,542 |
| Highest Mortgage Loan Application Amount | $875,000 |
| Average Applicant Income | $90,375 |
| Highest Applicant Income | $3,996,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 591 | $ 129,315,000 | $ 218,807 | $ 90,000 |
| Harrisonburg, Virginia | 159 | $ 30,825,000 | $ 193,867 | $ 84,000 |
| Augusta, Virginia | 143 | $ 30,495,000 | $ 213,251 | $ 81,000 |
| Shenandoah, Virginia | 131 | $ 27,505,000 | $ 209,961 | $ 85,000 |
| Page, Virginia | 52 | $ 9,190,000 | $ 176,730 | $ 77,000 |
| Waynesboro, Virginia | 20 | $ 3,130,000 | $ 156,500 | $ 59,000 |
| Staunton, Virginia | 19 | $ 3,655,000 | $ 192,368 | $ 85,000 |
| Chesterfield, Virginia | 5 | $ 1,445,000 | $ 289,000 | $ 134,000 |
| Rockbridge, Virginia | 5 | $ 1,435,000 | $ 287,000 | $ 82,000 |
| Albemarle, Virginia | 4 | $ 1,070,000 | $ 267,500 | $ 153,000 |
| Nelson, Virginia | 4 | $ 980,000 | $ 245,000 | $ 51,000 |
| Pendleton, West Virginia | 4 | $ 490,000 | $ 122,500 | $ 56,000 |
| Appomattox, Virginia | 3 | $ 785,000 | $ 261,666 | $ 73,000 |
| Franklin, Virginia | 3 | $ 545,000 | $ 181,666 | $ 149,000 |
| Prince Edward, Virginia | 3 | $ 505,000 | $ 168,333 | $ 59,000 |
| Prince William, Virginia | 3 | $ 1,035,000 | $ 345,000 | $ 87,000 |
| Roanoke City, Virginia | 3 | $ 315,000 | $ 105,000 | $ 36,000 |
| Warren, Virginia | 3 | $ 655,000 | $ 218,333 | $ 73,000 |
| Hardy, West Virginia | 3 | $ 375,000 | $ 125,000 | $ 67,000 |
| Washington, Maryland | 2 | $ 440,000 | $ 220,000 | $ 149,000 |
| Alexandria, Virginia | 2 | $ 350,000 | $ 175,000 | $ 72,000 |
| Arlington, Virginia | 2 | $ 920,000 | $ 460,000 | $ 197,000 |
| Brunswick, Virginia | 2 | $ 270,000 | $ 135,000 | $ 89,000 |
| Buckingham, Virginia | 2 | $ 320,000 | $ 160,000 | $ 74,000 |
| Buena Vista, Virginia | 2 | $ 190,000 | $ 95,000 | $ 49,000 |
| Campbell, Virginia | 2 | $ 510,000 | $ 255,000 | $ 97,000 |
| Dinwiddie, Virginia | 2 | $ 500,000 | $ 250,000 | $ 61,000 |
| Fairfax, Virginia | 2 | $ 580,000 | $ 290,000 | $ 67,000 |
| Frederick, Virginia | 2 | $ 360,000 | $ 180,000 | $ 106,000 |
| Greene, Virginia | 2 | $ 590,000 | $ 295,000 | $ 79,000 |
| Pittsylvania, Virginia | 2 | $ 510,000 | $ 255,000 | $ 83,000 |
| Southampton, Virginia | 2 | $ 530,000 | $ 265,000 | $ 182,000 |
| Spotsylvania, Virginia | 2 | $ 620,000 | $ 310,000 | $ 141,000 |
| Putnam, West Virginia | 2 | $ 430,000 | $ 215,000 | $ 133,000 |
| Baltimore, Maryland | 1 | $ 495,000 | $ 495,000 | $ 93,000 |
| Montgomery, Maryland | 1 | $ 325,000 | $ 325,000 | $ 110,000 |
| Talbot, Maryland | 1 | $ 225,000 | $ 225,000 | $ 91,000 |
| Dare, North Carolina | 1 | $ 205,000 | $ 205,000 | $ 151,000 |
| McDowell, North Carolina | 1 | $ 285,000 | $ 285,000 | $ 87,000 |
| Northampton, North Carolina | 1 | $ 245,000 | $ 245,000 | $ 85,000 |
| Onslow, North Carolina | 1 | $ 205,000 | $ 205,000 | $ 109,000 |
| Rowan, North Carolina | 1 | $ 215,000 | $ 215,000 | $ 77,000 |
| Wilkes, North Carolina | 1 | $ 175,000 | $ 175,000 | $ 43,000 |
| Jefferson, Pennsylvania | 1 | $ 195,000 | $ 195,000 | $ 58,000 |
| Lebanon, Pennsylvania | 1 | $ 165,000 | $ 165,000 | $ 64,000 |
| Beaufort, South Carolina | 1 | $ 875,000 | $ 875,000 | $ 0 |
| Amelia, Virginia | 1 | $ 125,000 | $ 125,000 | $ 55,000 |
| Amherst, Virginia | 1 | $ 175,000 | $ 175,000 | $ 60,000 |
| Bedford, Virginia | 1 | $ 165,000 | $ 165,000 | $ 47,000 |
| Charlotte, Virginia | 1 | $ 205,000 | $ 205,000 | $ 94,000 |
| Chesapeake, Virginia | 1 | $ 515,000 | $ 515,000 | $ 162,000 |
| Clarke, Virginia | 1 | $ 175,000 | $ 175,000 | $ 53,000 |
| Floyd, Virginia | 1 | $ 205,000 | $ 205,000 | $ 97,000 |
| Fluvanna, Virginia | 1 | $ 225,000 | $ 225,000 | $ 45,000 |
| Gloucester, Virginia | 1 | $ 235,000 | $ 235,000 | $ 39,000 |
| Goochland, Virginia | 1 | $ 255,000 | $ 255,000 | $ 82,000 |
| Grayson, Virginia | 1 | $ 255,000 | $ 255,000 | $ 63,000 |
| Hampton, Virginia | 1 | $ 95,000 | $ 95,000 | $ 72,000 |
| Henrico, Virginia | 1 | $ 225,000 | $ 225,000 | $ 107,000 |
| King George, Virginia | 1 | $ 105,000 | $ 105,000 | $ 133,000 |
| Loudoun, Virginia | 1 | $ 675,000 | $ 675,000 | $ 191,000 |
| Louisa, Virginia | 1 | $ 175,000 | $ 175,000 | $ 68,000 |
| Lunenburg, Virginia | 1 | $ 235,000 | $ 235,000 | $ 96,000 |
| Madison, Virginia | 1 | $ 495,000 | $ 495,000 | $ 150,000 |
| Mecklenburg, Virginia | 1 | $ 195,000 | $ 195,000 | $ 107,000 |
| New Kent, Virginia | 1 | $ 415,000 | $ 415,000 | $ 196,000 |
| Northampton, Virginia | 1 | $ 305,000 | $ 305,000 | $ 3,996,000 |
| Pulaski, Virginia | 1 | $ 35,000 | $ 35,000 | $ 60,000 |
| Richmond City, Virginia | 1 | $ 355,000 | $ 355,000 | $ 75,000 |
| Roanoke, Virginia | 1 | $ 185,000 | $ 185,000 | $ 36,000 |
| Tazewell, Virginia | 1 | $ 245,000 | $ 245,000 | $ 79,000 |
| Virginia Beach, Virginia | 1 | $ 105,000 | $ 105,000 | $ 0 |
| Berkeley, West Virginia | 1 | $ 155,000 | $ 155,000 | $ 820,000 |
| Boone, West Virginia | 1 | $ 65,000 | $ 65,000 | $ 57,000 |
| Greenbrier, West Virginia | 1 | $ 135,000 | $ 135,000 | $ 35,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2020
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 | 612 | $133,090,000 | $217,000 | $875,000 | $87,000 | $820,000 |
| Refinancing | 486 | $103,370,000 | $212,000 | $855,000 | $96,000 | $3,996,000 |
| Cash-out Refinancing | 70 | $14,450,000 | $206,000 | $405,000 | $77,000 | $232,000 |
| Home Improvement | 57 | $10,085,000 | $176,000 | $485,000 | $94,000 | $326,000 |
| Other Purpose | 4 | $220,000 | $55,000 | $65,000 | $106,000 | $155,000 |
| 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 | 1,006 | $215,940,000 | $214,000 | $675,000 | $90,000 | $820,000 |
| Hispanic | 146 | $26,240,000 | $179,000 | $505,000 | $60,000 | $376,000 |
| Black or African American | 29 | $6,605,000 | $227,000 | $515,000 | $87,000 | $204,000 |
| Not applicable | 17 | $4,175,000 | $245,000 | $875,000 | $0 | $0 |
| Asian | 14 | $3,490,000 | $249,000 | $345,000 | $97,000 | $199,000 |
| Not Provided | 11 | $2,785,000 | $253,000 | $435,000 | $520,000 | $3,996,000 |
| American Indian or Alaskan Native | 5 | $1,685,000 | $337,000 | $435,000 | $142,000 | $257,000 |
| 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) | 1,059 | $226,125,000 | $213,000 | $875,000 | $96,000 | $3,996,000 |
| FHA-insured (Federal Housing Administration) | 128 | $25,510,000 | $199,000 | $365,000 | $57,000 | $200,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 29 | $5,455,000 | $188,000 | $345,000 | $48,000 | $88,000 |
| VA-guaranteed (Veterans Administration) | 13 | $4,125,000 | $317,000 | $515,000 | $106,000 | $230,000 |
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 | 971 | $206,865,000 | $213,000 | $875,000 | $89,000 | $820,000 |
| Application Withdrawn By Applicant | 171 | $36,195,000 | $211,000 | $505,000 | $111,000 | $3,996,000 |
| Application Denied By Financial Institution | 84 | $17,580,000 | $209,000 | $505,000 | $66,000 | $227,000 |
| Application Approved But Not Accepted | 2 | $400,000 | $200,000 | $345,000 | $75,000 | $129,000 |
| File Closed For Incompleteness | 1 | $175,000 | $175,000 | $175,000 | $77,000 | $77,000 |
| 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 | 1,145 | $243,635,000 | $212,000 | $875,000 | $92,000 | $3,996,000 |
| Debt-To-Income Ratio | 36 | $7,910,000 | $219,000 | $485,000 | $60,000 | $227,000 |
| Credit History | 17 | $3,845,000 | $226,000 | $505,000 | $72,000 | $183,000 |
| Collateral | 13 | $2,585,000 | $198,000 | $455,000 | $93,000 | $184,000 |
| Other | 6 | $1,190,000 | $198,000 | $305,000 | $61,000 | $106,000 |
| Unverifiable Information | 5 | $905,000 | $181,000 | $195,000 | $37,000 | $96,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $815,000 | $163,000 | $335,000 | $71,000 | $142,000 |
| Employment History | 2 | $330,000 | $165,000 | $165,000 | $51,000 | $67,000 |
| 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 2020 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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