The Farmers & Merchants Bank of Craig County Mortgage Lending & HMDA Data, 2018
In 2018, The Farmers & Merchants Bank of Craig County of New Castle, VA reported 40 mortgage applications totaling $4.1 million, up 43% from 2017. The average application was for $103,250, and applicants reported an average income of $64,850. 88% of its applications resulted in an originated loan and 2% were denied. Its largest market was Roanoke, VA (40).
| Mortgage Company & Address | The Farmers & Merchants Bank of Craig County P.O. Box 400/189 Main Street New Castle, VA 24127 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 40 |
| Total Mortgage Loan Application Amount | $4,130,000 |
| Average Mortgage Loan Application Amount | $103,250 |
| Highest Mortgage Loan Application Amount | $375,000 |
| Average Applicant Income | $64,850 |
| Highest Applicant Income | $231,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Farmers & Merchants Bank of Craig County filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Craig, Virginia | 37 | $ 3,705,000 | $ 100,135 | $ 61,000 |
| Roanoke, Virginia | 2 | $ 290,000 | $ 145,000 | $ 65,000 |
| Botetourt, Virginia | 1 | $ 135,000 | $ 135,000 | $ 195,000 |
Mortgage Loan Application Detail Totals for The Farmers & Merchants Bank of Craig County in 2018
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 | 25 | $2,965,000 | $118,000 | $375,000 | $67,000 | $219,000 |
| Refinancing | 10 | $730,000 | $73,000 | $105,000 | $57,000 | $231,000 |
| Home Improvement | 4 | $240,000 | $60,000 | $105,000 | $79,000 | $90,000 |
| Cash-out Refinancing | 1 | $195,000 | $195,000 | $195,000 | $33,000 | $33,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 40 | $4,130,000 | $103,000 | $375,000 | $64,000 | $231,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 40 | $4,130,000 | $103,000 | $375,000 | $64,000 | $231,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 35 | $3,405,000 | $97,000 | $265,000 | $63,000 | $231,000 |
| Application Approved But Not Accepted | 2 | $490,000 | $245,000 | $375,000 | $127,000 | $219,000 |
| Application Withdrawn By Applicant | 2 | $130,000 | $65,000 | $65,000 | $36,000 | $47,000 |
| Application Denied By Financial Institution | 1 | $105,000 | $105,000 | $105,000 | $62,000 | $62,000 |
| 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 | 39 | $4,025,000 | $103,000 | $375,000 | $65,000 | $231,000 |
| Debt-To-Income Ratio | 1 | $105,000 | $105,000 | $105,000 | $62,000 | $62,000 |
| 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Farmers & Merchants Bank of Craig County's 2018 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 The Farmers & Merchants Bank of Craig County'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.
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