Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2019
In 2019, Farmers & Merchants Bank of Timberville, VA reported 845 mortgage applications totaling $158.0 million, up 12% from 2018. The average application was for $186,952, and applicants reported an average income of $81,885. 77% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Harrisonburg, VA (422), Staunton-Waynesboro, VA (199) and Lynchburg, VA (12) (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 | 845 |
| Total Mortgage Loan Application Amount | $157,975,000 |
| Average Mortgage Loan Application Amount | $186,952 |
| Highest Mortgage Loan Application Amount | $1,505,000 |
| Average Applicant Income | $81,885 |
| Highest Applicant Income | $1,111,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 422 | $ 81,060,000 | $ 192,085 | $ 84,000 |
| Staunton-Waynesboro, VA | 199 | $ 36,295,000 | $ 182,386 | $ 78,000 |
| Outside any metro area | 162 | $ 28,260,000 | $ 174,444 | $ 81,475 |
| Lynchburg, VA | 12 | $ 1,960,000 | $ 163,333 | $ 70,000 |
| Charlottesville, VA | 11 | $ 2,575,000 | $ 234,090 | $ 85,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 8 | $ 2,290,000 | $ 286,250 | $ 120,000 |
| Richmond, VA | 7 | $ 1,525,000 | $ 217,857 | $ 73,000 |
| Charlotte-Concord-Gastonia, NC-SC | 4 | $ 630,000 | $ 157,500 | $ 49,000 |
| Roanoke, VA | 4 | $ 650,000 | $ 162,500 | $ 74,000 |
| Winchester, VA-WV | 4 | $ 820,000 | $ 205,000 | $ 114,000 |
| Hagerstown-Martinsburg, MD-WV | 2 | $ 250,000 | $ 125,000 | $ 45,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 2 | $ 190,000 | $ 95,000 | $ 159,000 |
| York-Hanover, PA | 2 | $ 340,000 | $ 170,000 | $ 55,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 235,000 | $ 235,000 | $ 110,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 125,000 | $ 125,000 | $ 44,000 |
| Erie, PA | 1 | $ 215,000 | $ 215,000 | $ 86,000 |
| Montgomery County-Bucks County-Chester County, PA | 1 | $ 145,000 | $ 145,000 | $ 127,000 |
| Reading, PA | 1 | $ 115,000 | $ 115,000 | $ 39,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2019
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 | 633 | $122,835,000 | $194,000 | $1,505,000 | $81,000 | $544,000 |
| Refinancing | 190 | $33,200,000 | $174,000 | $465,000 | $84,000 | $1,111,000 |
| Home Improvement | 15 | $1,695,000 | $113,000 | $365,000 | $105,000 | $307,000 |
| Other Purpose | 7 | $245,000 | $35,000 | $75,000 | $55,000 | $116,000 |
| 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 | 683 | $128,795,000 | $188,000 | $1,505,000 | $83,000 | $544,000 |
| Hispanic | 96 | $16,210,000 | $168,000 | $365,000 | $57,000 | $248,000 |
| Black or African American | 26 | $4,960,000 | $190,000 | $455,000 | $90,000 | $470,000 |
| Not applicable | 22 | $4,150,000 | $188,000 | $465,000 | $0 | $0 |
| Asian | 9 | $1,695,000 | $188,000 | $485,000 | $223,000 | $1,111,000 |
| Not Provided | 6 | $1,470,000 | $245,000 | $485,000 | $145,000 | $304,000 |
| American Indian or Alaskan Native | 3 | $695,000 | $231,000 | $325,000 | $100,000 | $143,000 |
| 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) | 648 | $121,530,000 | $187,000 | $1,505,000 | $89,000 | $1,111,000 |
| FHA-insured (Federal Housing Administration) | 131 | $23,345,000 | $178,000 | $315,000 | $57,000 | $145,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 46 | $7,970,000 | $173,000 | $275,000 | $54,000 | $95,000 |
| VA-guaranteed (Veterans Administration) | 20 | $5,130,000 | $256,000 | $495,000 | $85,000 | $164,000 |
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 | 653 | $121,715,000 | $186,000 | $495,000 | $83,000 | $1,111,000 |
| Application Withdrawn By Applicant | 132 | $24,100,000 | $182,000 | $455,000 | $78,000 | $493,000 |
| Application Denied By Financial Institution | 44 | $9,320,000 | $211,000 | $1,505,000 | $80,000 | $544,000 |
| Application Approved But Not Accepted | 12 | $2,190,000 | $182,000 | $365,000 | $66,000 | $147,000 |
| File Closed For Incompleteness | 4 | $650,000 | $162,000 | $205,000 | $53,000 | $66,000 |
| 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 | 801 | $148,655,000 | $185,000 | $495,000 | $82,000 | $1,111,000 |
| Debt-To-Income Ratio | 16 | $2,680,000 | $167,000 | $465,000 | $60,000 | $150,000 |
| Credit History | 12 | $1,890,000 | $157,000 | $325,000 | $60,000 | $97,000 |
| Collateral | 6 | $2,380,000 | $396,000 | $1,505,000 | $137,000 | $544,000 |
| Other | 4 | $920,000 | $230,000 | $355,000 | $89,000 | $142,000 |
| Unverifiable Information | 2 | $410,000 | $205,000 | $235,000 | $117,000 | $180,000 |
| Employment History | 2 | $460,000 | $230,000 | $295,000 | $76,000 | $109,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $580,000 | $290,000 | $365,000 | $72,000 | $72,000 |
| 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 2019 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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