Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2024
In 2024, Farmers & Merchants Bank of Timberville, VA reported 498 mortgage applications totaling $141.5 million, up 1% from 2023. The average application was for $284,036, and applicants reported an average income of $119,891. 73% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Harrisonburg, VA (242), Staunton-Waynesboro, VA (102) and Winchester, VA-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 | 498 |
| Total Mortgage Loan Application Amount | $141,450,000 |
| Average Mortgage Loan Application Amount | $284,036 |
| Highest Mortgage Loan Application Amount | $3,005,000 |
| Average Applicant Income | $119,891 |
| Highest Applicant Income | $676,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 179 | $ 50,095,000 | $ 279,860 | $ 123,000 |
| Harrisonburg, Virginia | 63 | $ 15,805,000 | $ 250,873 | $ 103,000 |
| Augusta, Virginia | 62 | $ 16,600,000 | $ 267,741 | $ 105,000 |
| Shenandoah, Virginia | 38 | $ 10,990,000 | $ 289,210 | $ 105,000 |
| Staunton, Virginia | 25 | $ 4,695,000 | $ 187,800 | $ 93,000 |
| Page, Virginia | 19 | $ 4,575,000 | $ 240,789 | $ 111,000 |
| Waynesboro, Virginia | 15 | $ 2,985,000 | $ 199,000 | $ 139,000 |
| Frederick, Virginia | 13 | $ 4,685,000 | $ 360,384 | $ 155,000 |
| Hardy, West Virginia | 6 | $ 1,750,000 | $ 291,666 | $ 156,000 |
| Warren, Virginia | 4 | $ 3,940,000 | $ 985,000 | $ 148,000 |
| Winchester, Virginia | 4 | $ 1,690,000 | $ 422,500 | $ 159,000 |
| Highland, Virginia | 3 | $ 535,000 | $ 178,333 | $ 156,000 |
| Craven, North Carolina | 2 | $ 360,000 | $ 180,000 | $ 115,000 |
| Albemarle, Virginia | 2 | $ 620,000 | $ 310,000 | $ 86,000 |
| Dinwiddie, Virginia | 2 | $ 930,000 | $ 465,000 | $ 180,000 |
| Fluvanna, Virginia | 2 | $ 570,000 | $ 285,000 | $ 59,000 |
| Halifax, Virginia | 2 | $ 280,000 | $ 140,000 | $ 144,000 |
| Portsmouth, Virginia | 2 | $ 150,000 | $ 75,000 | $ 88,000 |
| Rockbridge, Virginia | 2 | $ 400,000 | $ 200,000 | $ 146,000 |
| Pendleton, West Virginia | 2 | $ 180,000 | $ 90,000 | $ 44,000 |
| St. Lucie, Florida | 1 | $ 1,475,000 | $ 1,475,000 | $ 536,000 |
| Gaston, North Carolina | 1 | $ 375,000 | $ 375,000 | $ 139,000 |
| Onslow, North Carolina | 1 | $ 155,000 | $ 155,000 | $ 32,000 |
| Amelia, Virginia | 1 | $ 45,000 | $ 45,000 | $ 19,000 |
| Amherst, Virginia | 1 | $ 465,000 | $ 465,000 | $ 164,000 |
| Bedford, Virginia | 1 | $ 135,000 | $ 135,000 | $ 69,000 |
| Brunswick, Virginia | 1 | $ 325,000 | $ 325,000 | $ 141,000 |
| Buckingham, Virginia | 1 | $ 285,000 | $ 285,000 | $ 93,000 |
| Campbell, Virginia | 1 | $ 465,000 | $ 465,000 | $ 254,000 |
| Chesterfield, Virginia | 1 | $ 415,000 | $ 415,000 | $ 138,000 |
| Clarke, Virginia | 1 | $ 1,135,000 | $ 1,135,000 | $ 355,000 |
| Culpeper, Virginia | 1 | $ 565,000 | $ 565,000 | $ 116,000 |
| Fairfax, Virginia | 1 | $ 405,000 | $ 405,000 | $ 204,000 |
| Franklin, Virginia | 1 | $ 105,000 | $ 105,000 | $ 39,000 |
| Gloucester, Virginia | 1 | $ 325,000 | $ 325,000 | $ 165,000 |
| Greene, Virginia | 1 | $ 275,000 | $ 275,000 | $ 100,000 |
| Henrico, Virginia | 1 | $ 315,000 | $ 315,000 | $ 110,000 |
| Lynchburg, Virginia | 1 | $ 305,000 | $ 305,000 | $ 130,000 |
| Orange, Virginia | 1 | $ 225,000 | $ 225,000 | $ 61,000 |
| Pittsylvania, Virginia | 1 | $ 85,000 | $ 85,000 | $ 36,000 |
| Prince Edward, Virginia | 1 | $ 225,000 | $ 225,000 | $ 59,000 |
| Prince William, Virginia | 1 | $ 665,000 | $ 665,000 | $ 137,000 |
| Roanoke, Virginia | 1 | $ 515,000 | $ 515,000 | $ 180,000 |
| Westmoreland, Virginia | 1 | $ 515,000 | $ 515,000 | $ 430,000 |
| York, Virginia | 1 | $ 185,000 | $ 185,000 | $ 262,000 |
| Berkeley, West Virginia | 1 | $ 275,000 | $ 275,000 | $ 225,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2024
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 | 424 | $124,800,000 | $294,000 | $3,005,000 | $120,000 | $676,000 |
| Cash-out Refinancing | 28 | $6,590,000 | $235,000 | $755,000 | $102,000 | $559,000 |
| Refinancing | 27 | $6,325,000 | $234,000 | $895,000 | $100,000 | $254,000 |
| Home Improvement | 13 | $1,475,000 | $113,000 | $515,000 | $138,000 | $430,000 |
| Other Purpose | 5 | $2,155,000 | $431,000 | $1,475,000 | $274,000 | $536,000 |
| Not Applicable | 1 | $105,000 | $105,000 | $105,000 | $106,000 | $106,000 |
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 | 386 | $110,450,000 | $286,000 | $3,005,000 | $122,000 | $676,000 |
| Hispanic | 51 | $13,515,000 | $265,000 | $515,000 | $100,000 | $343,000 |
| Not Provided | 25 | $5,525,000 | $221,000 | $905,000 | $113,000 | $403,000 |
| Black or African American | 23 | $7,325,000 | $318,000 | $615,000 | $128,000 | $430,000 |
| Asian | 10 | $3,460,000 | $346,000 | $1,135,000 | $139,000 | $355,000 |
| Not applicable | 2 | $670,000 | $335,000 | $405,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $505,000 | $505,000 | $505,000 | $144,000 | $144,000 |
| 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) | 420 | $120,760,000 | $287,000 | $3,005,000 | $126,000 | $676,000 |
| FHA-insured (Federal Housing Administration) | 62 | $15,540,000 | $250,000 | $435,000 | $82,000 | $177,000 |
| VA-guaranteed (Veterans Administration) | 11 | $3,985,000 | $362,000 | $665,000 | $115,000 | $237,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $1,165,000 | $233,000 | $375,000 | $83,000 | $115,000 |
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 | 363 | $105,235,000 | $289,000 | $1,475,000 | $122,000 | $547,000 |
| Application Withdrawn By Applicant | 108 | $29,760,000 | $275,000 | $3,005,000 | $119,000 | $676,000 |
| Application Denied By Financial Institution | 21 | $5,405,000 | $257,000 | $675,000 | $103,000 | $269,000 |
| Application Approved But Not Accepted | 4 | $710,000 | $177,000 | $325,000 | $78,000 | $123,000 |
| File Closed For Incompleteness | 2 | $340,000 | $170,000 | $215,000 | $68,000 | $84,000 |
| 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 | 477 | $136,045,000 | $285,000 | $3,005,000 | $121,000 | $676,000 |
| Credit History | 11 | $3,145,000 | $285,000 | $675,000 | $98,000 | $204,000 |
| Debt-To-Income Ratio | 6 | $1,310,000 | $218,000 | $365,000 | $116,000 | $269,000 |
| Collateral | 1 | $345,000 | $345,000 | $345,000 | $97,000 | $97,000 |
| Credit Application Incomplete | 1 | $95,000 | $95,000 | $95,000 | $102,000 | $102,000 |
| Other | 1 | $355,000 | $355,000 | $355,000 | $154,000 | $154,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $155,000 | $155,000 | $155,000 | $29,000 | $29,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Bank's 2024 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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