Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2023
In 2023, Farmers & Merchants Bank of Timberville, VA reported 492 mortgage applications totaling $140.8 million, down 26% from 2022. The average application was for $286,178, and applicants reported an average income of $117,851. 72% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Harrisonburg, VA (235), Staunton-Waynesboro, VA (85) and Winchester, VA-WV (19) (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 | 492 |
| Total Mortgage Loan Application Amount | $140,800,000 |
| Average Mortgage Loan Application Amount | $286,178 |
| Highest Mortgage Loan Application Amount | $1,535,000 |
| Average Applicant Income | $117,851 |
| Highest Applicant Income | $1,292,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 235 | $ 63,005,000 | $ 268,106 | $ 105,000 |
| Outside any metro area | 114 | $ 36,390,000 | $ 319,210 | $ 137,035 |
| Staunton-Waynesboro, VA | 85 | $ 22,335,000 | $ 262,764 | $ 112,000 |
| Winchester, VA-WV | 19 | $ 6,015,000 | $ 316,578 | $ 152,315 |
| Charlottesville, VA | 10 | $ 3,200,000 | $ 320,000 | $ 127,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 9 | $ 3,165,000 | $ 351,666 | $ 137,000 |
| Lynchburg, VA | 6 | $ 1,490,000 | $ 248,333 | $ 101,000 |
| Hagerstown-Martinsburg, MD-WV | 3 | $ 705,000 | $ 235,000 | $ 83,000 |
| Baltimore-Columbia-Towson, MD | 2 | $ 620,000 | $ 310,000 | $ 118,000 |
| Beckley, WV | 1 | $ 185,000 | $ 185,000 | $ 71,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 245,000 | $ 245,000 | $ 201,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 425,000 | $ 425,000 | $ 145,000 |
| Jacksonville, NC | 1 | $ 295,000 | $ 295,000 | $ 90,000 |
| Morristown, TN | 1 | $ 155,000 | $ 155,000 | $ 103,000 |
| New Bern, NC | 1 | $ 255,000 | $ 255,000 | $ 91,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 1 | $ 475,000 | $ 475,000 | $ 153,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 1 | $ 1,535,000 | $ 1,535,000 | $ 920,000 |
| Wilmington, NC | 1 | $ 305,000 | $ 305,000 | $ 0 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2023
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 | 408 | $125,510,000 | $307,000 | $995,000 | $122,000 | $1,292,000 |
| Refinancing | 57 | $12,045,000 | $211,000 | $1,535,000 | $110,000 | $920,000 |
| Home Improvement | 19 | $1,265,000 | $66,000 | $305,000 | $75,000 | $197,000 |
| Other Purpose | 6 | $250,000 | $41,000 | $85,000 | $46,000 | $95,000 |
| Cash-out Refinancing | 2 | $1,730,000 | $865,000 | $1,505,000 | $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 | 392 | $115,320,000 | $294,000 | $1,535,000 | $122,000 | $1,292,000 |
| Hispanic | 51 | $11,625,000 | $227,000 | $725,000 | $73,000 | $270,000 |
| Not Provided | 16 | $3,200,000 | $200,000 | $625,000 | $123,000 | $534,000 |
| Black or African American | 13 | $3,595,000 | $276,000 | $725,000 | $130,000 | $251,000 |
| Not applicable | 9 | $3,495,000 | $388,000 | $1,505,000 | $0 | $0 |
| Asian | 8 | $2,440,000 | $305,000 | $525,000 | $184,000 | $574,000 |
| American Indian or Alaskan Native | 2 | $780,000 | $390,000 | $475,000 | $221,000 | $290,000 |
| 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) | 451 | $130,215,000 | $288,000 | $1,535,000 | $122,000 | $1,292,000 |
| FHA-insured (Federal Housing Administration) | 33 | $8,435,000 | $255,000 | $475,000 | $79,000 | $177,000 |
| VA-guaranteed (Veterans Administration) | 5 | $1,425,000 | $285,000 | $415,000 | $82,000 | $91,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $725,000 | $241,000 | $275,000 | $74,000 | $81,000 |
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 | 355 | $106,195,000 | $299,000 | $1,535,000 | $122,000 | $1,292,000 |
| Application Withdrawn By Applicant | 107 | $29,385,000 | $274,000 | $995,000 | $113,000 | $574,000 |
| Application Denied By Financial Institution | 26 | $4,040,000 | $155,000 | $645,000 | $78,000 | $223,000 |
| Application Approved But Not Accepted | 3 | $1,015,000 | $338,000 | $585,000 | $211,000 | $534,000 |
| File Closed For Incompleteness | 1 | $165,000 | $165,000 | $165,000 | $44,000 | $44,000 |
| 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 | 466 | $136,760,000 | $293,000 | $1,535,000 | $121,000 | $1,292,000 |
| Debt-To-Income Ratio | 15 | $1,715,000 | $114,000 | $365,000 | $72,000 | $223,000 |
| Credit History | 6 | $660,000 | $110,000 | $275,000 | $57,000 | $97,000 |
| Collateral | 3 | $665,000 | $221,000 | $335,000 | $132,000 | $160,000 |
| Other | 1 | $645,000 | $645,000 | $645,000 | $123,000 | $123,000 |
| Employment History | 1 | $355,000 | $355,000 | $355,000 | $68,000 | $68,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 2023 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.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About