Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2021
In 2021, Farmers & Merchants Bank of Timberville, VA reported 990 mortgage applications totaling $212.2 million, down 19% from 2020. The average application was for $214,292, and applicants reported an average income of $86,142. 85% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Harrisonburg, VA (559), Staunton-Waynesboro, VA (167) and Lynchburg, VA (15) (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 | 990 |
| Total Mortgage Loan Application Amount | $212,150,000 |
| Average Mortgage Loan Application Amount | $214,292 |
| Highest Mortgage Loan Application Amount | $815,000 |
| Average Applicant Income | $86,142 |
| Highest Applicant Income | $601,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 415 | $ 94,645,000 | $ 228,060 | $ 92,000 |
| Harrisonburg, Virginia | 144 | $ 27,280,000 | $ 189,444 | $ 83,000 |
| Augusta, Virginia | 108 | $ 24,660,000 | $ 228,333 | $ 80,000 |
| Shenandoah, Virginia | 95 | $ 19,135,000 | $ 201,421 | $ 76,000 |
| Page, Virginia | 38 | $ 6,660,000 | $ 175,263 | $ 83,000 |
| Staunton, Virginia | 38 | $ 5,670,000 | $ 149,210 | $ 72,000 |
| Waynesboro, Virginia | 21 | $ 4,135,000 | $ 196,904 | $ 75,000 |
| Rockbridge, Virginia | 10 | $ 2,710,000 | $ 271,000 | $ 71,000 |
| Bedford, Virginia | 9 | $ 2,085,000 | $ 231,666 | $ 85,000 |
| Frederick, Virginia | 7 | $ 1,875,000 | $ 267,857 | $ 138,000 |
| Albemarle, Virginia | 6 | $ 1,850,000 | $ 308,333 | $ 113,000 |
| Hardy, West Virginia | 5 | $ 735,000 | $ 147,000 | $ 85,000 |
| Campbell, Virginia | 4 | $ 700,000 | $ 175,000 | $ 61,000 |
| Madison, Virginia | 4 | $ 930,000 | $ 232,500 | $ 75,000 |
| Amelia, Virginia | 3 | $ 665,000 | $ 221,666 | $ 55,000 |
| Greene, Virginia | 3 | $ 505,000 | $ 168,333 | $ 103,000 |
| Mecklenburg, Virginia | 3 | $ 705,000 | $ 235,000 | $ 132,000 |
| Nelson, Virginia | 3 | $ 1,185,000 | $ 395,000 | $ 120,000 |
| Spotsylvania, Virginia | 3 | $ 975,000 | $ 325,000 | $ 68,000 |
| Gaston, North Carolina | 2 | $ 280,000 | $ 140,000 | $ 54,000 |
| Harnett, North Carolina | 2 | $ 410,000 | $ 205,000 | $ 195,000 |
| Rowan, North Carolina | 2 | $ 420,000 | $ 210,000 | $ 78,000 |
| Union, North Carolina | 2 | $ 360,000 | $ 180,000 | $ 48,000 |
| Montgomery, Pennsylvania | 2 | $ 670,000 | $ 335,000 | $ 0 |
| Buena Vista, Virginia | 2 | $ 220,000 | $ 110,000 | $ 70,000 |
| Chesterfield, Virginia | 2 | $ 260,000 | $ 130,000 | $ 55,000 |
| Fairfax, Virginia | 2 | $ 1,090,000 | $ 545,000 | $ 133,000 |
| Franklin, Virginia | 2 | $ 270,000 | $ 135,000 | $ 84,000 |
| Goochland, Virginia | 2 | $ 680,000 | $ 340,000 | $ 91,000 |
| Louisa, Virginia | 2 | $ 440,000 | $ 220,000 | $ 96,000 |
| Northampton, Virginia | 2 | $ 710,000 | $ 355,000 | $ 244,000 |
| Warren, Virginia | 2 | $ 660,000 | $ 330,000 | $ 131,000 |
| Winchester, Virginia | 2 | $ 550,000 | $ 275,000 | $ 77,000 |
| Fayette, West Virginia | 2 | $ 290,000 | $ 145,000 | $ 61,000 |
| Raleigh, West Virginia | 2 | $ 350,000 | $ 175,000 | $ 75,000 |
| Carroll, Maryland | 1 | $ 515,000 | $ 515,000 | $ 127,000 |
| Garrett, Maryland | 1 | $ 105,000 | $ 105,000 | $ 41,000 |
| Montgomery, Maryland | 1 | $ 295,000 | $ 295,000 | $ 70,000 |
| Washington, Maryland | 1 | $ 155,000 | $ 155,000 | $ 54,000 |
| Brunswick, North Carolina | 1 | $ 435,000 | $ 435,000 | $ 107,000 |
| Burke, North Carolina | 1 | $ 205,000 | $ 205,000 | $ 81,000 |
| Cleveland, North Carolina | 1 | $ 215,000 | $ 215,000 | $ 97,000 |
| Craven, North Carolina | 1 | $ 165,000 | $ 165,000 | $ 51,000 |
| Dare, North Carolina | 1 | $ 315,000 | $ 315,000 | $ 220,000 |
| Johnston, North Carolina | 1 | $ 135,000 | $ 135,000 | $ 24,000 |
| Jones, North Carolina | 1 | $ 105,000 | $ 105,000 | $ 43,000 |
| Lenoir, North Carolina | 1 | $ 135,000 | $ 135,000 | $ 37,000 |
| McDowell, North Carolina | 1 | $ 205,000 | $ 205,000 | $ 62,000 |
| Northampton, North Carolina | 1 | $ 155,000 | $ 155,000 | $ 38,000 |
| Onslow, North Carolina | 1 | $ 215,000 | $ 215,000 | $ 85,000 |
| Bucks, Pennsylvania | 1 | $ 155,000 | $ 155,000 | $ 108,000 |
| Franklin, Pennsylvania | 1 | $ 165,000 | $ 165,000 | $ 92,000 |
| Luzerne, Pennsylvania | 1 | $ 125,000 | $ 125,000 | $ 77,000 |
| Amherst, Virginia | 1 | $ 235,000 | $ 235,000 | $ 152,000 |
| Bath, Virginia | 1 | $ 175,000 | $ 175,000 | $ 80,000 |
| Buckingham, Virginia | 1 | $ 235,000 | $ 235,000 | $ 96,000 |
| Carroll, Virginia | 1 | $ 135,000 | $ 135,000 | $ 34,000 |
| Charlotte, Virginia | 1 | $ 115,000 | $ 115,000 | $ 49,000 |
| Clarke, Virginia | 1 | $ 125,000 | $ 125,000 | $ 120,000 |
| Cumberland, Virginia | 1 | $ 295,000 | $ 295,000 | $ 105,000 |
| Dinwiddie, Virginia | 1 | $ 255,000 | $ 255,000 | $ 63,000 |
| Fauquier, Virginia | 1 | $ 185,000 | $ 185,000 | $ 102,000 |
| Fluvanna, Virginia | 1 | $ 195,000 | $ 195,000 | $ 33,000 |
| Grayson, Virginia | 1 | $ 145,000 | $ 145,000 | $ 59,000 |
| Loudoun, Virginia | 1 | $ 275,000 | $ 275,000 | $ 120,000 |
| Lynchburg, Virginia | 1 | $ 105,000 | $ 105,000 | $ 25,000 |
| Portsmouth, Virginia | 1 | $ 125,000 | $ 125,000 | $ 0 |
| Roanoke, Virginia | 1 | $ 55,000 | $ 55,000 | $ 20,000 |
| Sussex, Virginia | 1 | $ 135,000 | $ 135,000 | $ 57,000 |
| Westmoreland, Virginia | 1 | $ 235,000 | $ 235,000 | $ 260,000 |
| Berkeley, West Virginia | 1 | $ 205,000 | $ 205,000 | $ 119,000 |
| Cabell, West Virginia | 1 | $ 35,000 | $ 35,000 | $ 107,000 |
| Morgan, West Virginia | 1 | $ 275,000 | $ 275,000 | $ 197,000 |
| Pendleton, West Virginia | 1 | $ 45,000 | $ 45,000 | $ 30,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2021
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 | 598 | $134,450,000 | $224,000 | $545,000 | $85,000 | $443,000 |
| Refinancing | 380 | $75,950,000 | $199,000 | $815,000 | $88,000 | $601,000 |
| Home Improvement | 9 | $1,575,000 | $175,000 | $555,000 | $98,000 | $229,000 |
| Other Purpose | 3 | $175,000 | $58,000 | $95,000 | $43,000 | $48,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 757 | $167,945,000 | $221,000 | $815,000 | $91,000 | $601,000 |
| Hispanic | 132 | $24,710,000 | $187,000 | $545,000 | $63,000 | $443,000 |
| Not applicable | 41 | $6,155,000 | $150,000 | $555,000 | $0 | $0 |
| Black or African American | 30 | $5,080,000 | $169,000 | $365,000 | $58,000 | $102,000 |
| Not Provided | 20 | $5,690,000 | $284,000 | $535,000 | $122,000 | $426,000 |
| Asian | 8 | $2,060,000 | $257,000 | $455,000 | $76,000 | $156,000 |
| American Indian or Alaskan Native | 2 | $510,000 | $255,000 | $345,000 | $56,000 | $61,000 |
| 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) | 866 | $185,760,000 | $214,000 | $815,000 | $90,000 | $601,000 |
| FHA-insured (Federal Housing Administration) | 98 | $20,120,000 | $205,000 | $325,000 | $56,000 | $197,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 16 | $3,280,000 | $205,000 | $265,000 | $59,000 | $87,000 |
| VA-guaranteed (Veterans Administration) | 10 | $2,990,000 | $299,000 | $465,000 | $115,000 | $323,000 |
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 | 839 | $178,165,000 | $212,000 | $815,000 | $87,000 | $601,000 |
| Application Denied By Financial Institution | 61 | $12,545,000 | $205,000 | $815,000 | $69,000 | $430,000 |
| Application Withdrawn By Applicant | 46 | $11,780,000 | $256,000 | $625,000 | $105,000 | $381,000 |
| Application Approved But Not Accepted | 44 | $9,660,000 | $219,000 | $545,000 | $84,000 | $261,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 929 | $199,605,000 | $214,000 | $815,000 | $87,000 | $601,000 |
| Debt-To-Income Ratio | 18 | $3,400,000 | $188,000 | $335,000 | $60,000 | $139,000 |
| Credit History | 14 | $2,190,000 | $156,000 | $355,000 | $69,000 | $162,000 |
| Collateral | 13 | $3,435,000 | $264,000 | $815,000 | $96,000 | $430,000 |
| Unverifiable Information | 7 | $1,405,000 | $200,000 | $325,000 | $55,000 | $71,000 |
| Other | 5 | $935,000 | $187,000 | $545,000 | $48,000 | $100,000 |
| Employment History | 2 | $510,000 | $255,000 | $305,000 | $70,000 | $110,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $670,000 | $335,000 | $535,000 | $60,000 | $84,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Bank's 2021 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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