Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2016
In 2016, Farmers & Merchants Bank of Timberville, VA reported 717 mortgage applications totaling $130.3 million, up 14% from 2015. The average application was for $181,718, and applicants reported an average income of $75,276. 79% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Harrisonburg, VA (437), Staunton-Waynesboro, VA (143) and Lynchburg, VA (8) (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 | 717 |
| Total Mortgage Loan Application Amount | $130,292,000 |
| Average Mortgage Loan Application Amount | $181,718 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $75,276 |
| Highest Applicant Income | $800,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Harrisonburg, VA | 437 | $ 82,135,000 | $ 187,951 | $ 77,000 |
| Staunton-Waynesboro, VA | 143 | $ 23,717,000 | $ 165,853 | $ 74,000 |
| Lynchburg, VA | 8 | $ 1,922,000 | $ 240,250 | $ 39,000 |
| Charlottesville, VA | 7 | $ 1,567,000 | $ 223,857 | $ 78,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 7 | $ 1,187,000 | $ 169,571 | $ 68,000 |
| Richmond, VA | 4 | $ 627,000 | $ 156,750 | $ 58,000 |
| Winchester, VA-WV | 3 | $ 460,000 | $ 153,333 | $ 75,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 417,000 | $ 417,000 | $ 500,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 1 | $ 668,000 | $ 668,000 | $ 0 |
| Roanoke, VA | 1 | $ 120,000 | $ 120,000 | $ 74,000 |
| Salisbury, MD-DE | 1 | $ 160,000 | $ 160,000 | $ 33,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 1 | $ 107,000 | $ 107,000 | $ 73,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2016
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 | 560 | $101,749,000 | $181,000 | $1,000,000 | $72,000 | $800,000 |
| Refinancing | 138 | $25,978,000 | $188,000 | $668,000 | $82,000 | $516,000 |
| Home Improvement | 19 | $2,565,000 | $135,000 | $415,000 | $123,000 | $694,000 |
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 | 618 | $112,319,000 | $181,000 | $600,000 | $78,000 | $800,000 |
| Hispanic | 36 | $4,900,000 | $136,000 | $348,000 | $64,000 | $396,000 |
| Not applicable | 26 | $6,164,000 | $237,000 | $1,000,000 | $0 | $0 |
| Black or African American | 14 | $2,962,000 | $211,000 | $417,000 | $117,000 | $500,000 |
| Asian | 12 | $2,048,000 | $170,000 | $238,000 | $64,000 | $129,000 |
| Not Provided | 10 | $1,708,000 | $170,000 | $325,000 | $93,000 | $262,000 |
| American Indian or Alaskan Native | 1 | $191,000 | $191,000 | $191,000 | $0 | $0 |
| Native Hawaiin 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) | 540 | $100,472,000 | $186,000 | $1,000,000 | $82,000 | $800,000 |
| FHA-insured (Federal Housing Administration) | 120 | $20,227,000 | $168,000 | $276,000 | $54,000 | $161,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 42 | $6,235,000 | $148,000 | $221,000 | $43,000 | $74,000 |
| VA-guaranteed (Veterans Administration) | 15 | $3,358,000 | $223,000 | $357,000 | $77,000 | $143,000 |
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 | 570 | $106,143,000 | $186,000 | $1,000,000 | $76,000 | $694,000 |
| Application Denied By Financial Institution | 68 | $10,430,000 | $153,000 | $436,000 | $53,000 | $225,000 |
| Application Withdrawn By Applicant | 60 | $10,629,000 | $177,000 | $530,000 | $90,000 | $800,000 |
| Application Approved But Not Accepted | 19 | $3,090,000 | $162,000 | $417,000 | $81,000 | $239,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Bank's 2016 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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