Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2022
In 2022, Farmers & Merchants Bank of Timberville, VA reported 661 mortgage applications totaling $176.9 million, down 33% from 2021. The average application was for $267,617, and applicants reported an average income of $101,747. 79% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Harrisonburg, VA (363), Staunton-Waynesboro, VA (106) and Charlottesville, VA (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 | 661 |
| Total Mortgage Loan Application Amount | $176,895,000 |
| Average Mortgage Loan Application Amount | $267,617 |
| Highest Mortgage Loan Application Amount | $2,505,000 |
| Average Applicant Income | $101,747 |
| Highest Applicant Income | $594,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 363 | $ 94,285,000 | $ 259,738 | $ 103,000 |
| Outside any metro area | 114 | $ 28,180,000 | $ 247,192 | $ 96,552 |
| Staunton-Waynesboro, VA | 106 | $ 27,840,000 | $ 262,641 | $ 91,000 |
| Charlottesville, VA | 17 | $ 4,495,000 | $ 264,411 | $ 99,000 |
| Winchester, VA-WV | 15 | $ 4,915,000 | $ 327,666 | $ 139,466 |
| Lynchburg, VA | 13 | $ 2,885,000 | $ 221,923 | $ 82,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 10 | $ 6,410,000 | $ 641,000 | $ 195,000 |
| Roanoke, VA | 5 | $ 2,025,000 | $ 405,000 | $ 118,000 |
| Hagerstown-Martinsburg, MD-WV | 3 | $ 725,000 | $ 241,666 | $ 127,000 |
| Baltimore-Columbia-Towson, MD | 2 | $ 630,000 | $ 315,000 | $ 143,000 |
| Charlotte-Concord-Gastonia, NC-SC | 2 | $ 480,000 | $ 240,000 | $ 73,000 |
| New Bern, NC | 2 | $ 570,000 | $ 285,000 | $ 142,000 |
| Richmond, VA | 2 | $ 200,000 | $ 100,000 | $ 41,000 |
| Fayetteville, NC | 1 | $ 165,000 | $ 165,000 | $ 46,000 |
| Jacksonville, NC | 1 | $ 215,000 | $ 215,000 | $ 102,000 |
| Kingsport-Bristol-Bristol, TN-VA | 1 | $ 75,000 | $ 75,000 | $ 75,000 |
| Montgomery County-Bucks County-Chester County, PA | 1 | $ 375,000 | $ 375,000 | $ 202,000 |
| Salisbury, MD-DE | 1 | $ 275,000 | $ 275,000 | $ 80,000 |
| Wilmington, NC | 1 | $ 1,815,000 | $ 1,815,000 | $ 0 |
| Winston-Salem, NC | 1 | $ 335,000 | $ 335,000 | $ 170,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2022
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 | 539 | $149,635,000 | $277,000 | $965,000 | $104,000 | $594,000 |
| Refinancing | 105 | $24,015,000 | $228,000 | $2,505,000 | $94,000 | $588,000 |
| Home Improvement | 10 | $2,640,000 | $264,000 | $1,815,000 | $79,000 | $123,000 |
| Other Purpose | 7 | $605,000 | $86,000 | $175,000 | $77,000 | $110,000 |
| 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 | 521 | $139,625,000 | $267,000 | $2,505,000 | $104,000 | $588,000 |
| Hispanic | 77 | $18,735,000 | $243,000 | $575,000 | $82,000 | $423,000 |
| Not applicable | 28 | $7,730,000 | $276,000 | $1,815,000 | $0 | $0 |
| Black or African American | 18 | $4,340,000 | $241,000 | $485,000 | $94,000 | $298,000 |
| Not Provided | 10 | $4,160,000 | $416,000 | $965,000 | $155,000 | $314,000 |
| Asian | 4 | $1,470,000 | $367,000 | $625,000 | $226,000 | $594,000 |
| American Indian or Alaskan Native | 2 | $380,000 | $190,000 | $205,000 | $64,000 | $88,000 |
| 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) | 580 | $157,050,000 | $270,000 | $2,505,000 | $106,000 | $588,000 |
| FHA-insured (Federal Housing Administration) | 64 | $14,620,000 | $228,000 | $545,000 | $68,000 | $167,000 |
| VA-guaranteed (Veterans Administration) | 12 | $4,140,000 | $345,000 | $645,000 | $134,000 | $594,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $1,085,000 | $217,000 | $265,000 | $68,000 | $83,000 |
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 | 524 | $142,010,000 | $271,000 | $2,505,000 | $106,000 | $594,000 |
| Application Withdrawn By Applicant | 75 | $20,265,000 | $270,000 | $785,000 | $93,000 | $258,000 |
| Application Denied By Financial Institution | 36 | $8,550,000 | $237,000 | $965,000 | $77,000 | $217,000 |
| Application Approved But Not Accepted | 26 | $6,070,000 | $233,000 | $545,000 | $91,000 | $230,000 |
| 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 | 625 | $168,345,000 | $269,000 | $2,505,000 | $103,000 | $594,000 |
| Credit History | 11 | $2,385,000 | $216,000 | $355,000 | $72,000 | $166,000 |
| Debt-To-Income Ratio | 11 | $3,405,000 | $309,000 | $965,000 | $79,000 | $217,000 |
| Collateral | 7 | $995,000 | $142,000 | $235,000 | $62,000 | $105,000 |
| Other | 5 | $1,075,000 | $215,000 | $275,000 | $90,000 | $173,000 |
| Unverifiable Information | 1 | $235,000 | $235,000 | $235,000 | $75,000 | $75,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $455,000 | $455,000 | $455,000 | $168,000 | $168,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 2022 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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