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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| 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 | 750 | $ 160,140,000 | $ 213,520 | $ 89,000 |
| Outside any metro area | 222 | $ 44,180,000 | $ 199,009 | $ 99,896 |
| Staunton-Waynesboro, VA | 182 | $ 37,280,000 | $ 204,835 | $ 79,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 17 | $ 5,505,000 | $ 323,823 | $ 107,000 |
| Richmond, VA | 12 | $ 3,320,000 | $ 276,666 | $ 109,000 |
| Charlottesville, VA | 11 | $ 2,865,000 | $ 260,454 | $ 93,000 |
| Lynchburg, VA | 7 | $ 1,635,000 | $ 233,571 | $ 74,000 |
| Roanoke, VA | 7 | $ 1,045,000 | $ 149,285 | $ 85,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 6 | $ 1,480,000 | $ 246,666 | $ 127,000 |
| Hagerstown-Martinsburg, MD-WV | 3 | $ 595,000 | $ 198,333 | $ 372,666 |
| Huntington-Ashland, WV-KY-OH | 2 | $ 430,000 | $ 215,000 | $ 133,000 |
| Winchester, VA-WV | 2 | $ 360,000 | $ 180,000 | $ 106,000 |
| Baltimore-Columbia-Towson, MD | 1 | $ 495,000 | $ 495,000 | $ 93,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 35,000 | $ 35,000 | $ 60,000 |
| Charleston, WV | 1 | $ 65,000 | $ 65,000 | $ 57,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 215,000 | $ 215,000 | $ 77,000 |
| Hilton Head Island-Bluffton-Beaufort, SC | 1 | $ 875,000 | $ 875,000 | $ 0 |
| Jacksonville, NC | 1 | $ 205,000 | $ 205,000 | $ 109,000 |
| Lebanon, PA | 1 | $ 165,000 | $ 165,000 | $ 64,000 |
| Washington-Baltimore-Arlington, DC | 1 | $ 325,000 | $ 325,000 | $ 110,000 |
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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