Borrowing Made Simple

When you need money to fund life's necessities and its pleasures, we're here to help you. F&M Bank provides a full range of personal loans with flexible terms, competitive rates, local decision making, and quick turnaround time.
 

What options and advantages do our installment loans offer?
  1. A structured loan to be paid back in a specified time, like a few months or a few years.
  2. Competitive rates that reward your strong payment history.
  3. Simple interest. Meaning you pay interest only on the outstanding balance. You can reduce your interest cost if you choose to repay early.
     

personal lending


Personal Loans

Auto loans - Financing for anything on four wheels. Automatic payment deduction from your F&M Bank checking account makes your payments very convenient, too!

Unsecured loans - The ideal way to finance a one-time expense and give you the benefit of a fixed monthly payment. The minimum loan size on these loans is $2,000, and the interest rate is fixed. Lending programs, including rates and terms, are subject to change without notice. Farmers & Merchants Bank makes loans without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract).

If you're like most people, your home is your biggest asset. We offer you the opportunity to put the equity in your home to work for you. Updating your home, consolidating bills, investment opportunities, or paying school tuition are a few of the many important reasons to borrow. When one comes your way, choose a fixed rate Home Equity Loan or a variable rate Home Equity Line of Credit. The Home Equity Loan gives you a lump sum for a major expenditure, and the Line of Credit makes ready cash available when you need it. In addition, you may be able to cash in on real tax savings. Because your Farmers & Merchants Home Equity Loan or Line of Credit is secured by your home, the interest you pay may be tax deductible! Consult your tax advisor regarding the deductibility of interest.
 

Home Equity Refinancing - Click Here to Check Out Our Special HELOC Rate!


 

More About Home Equity Lines of Credit

Cash on hand, whenever you need it! With a Farmers & Merchants Bank Home Equity Line of Credit, you'll receive the advantages of a loan with the flexibility of a reusable line of credit. Apply only once and use it over and over:

  • The maximum amount you can borrow depends on the appraised value of your home and the balance of your first mortgage. If your first mortgage is also with Farmers & Merchants, we can lend even more.
  •  Instant access by writing a check anytime you like (subject to terms of your line), or using a debit card to make purchases (subject to point-of-sale daily limit).
  • Save interest. Compare our low rate with your present credit cards. You'll find our variable rate much lower. Plus, current federal tax laws make home equity credit one of the few remaining loans with tax deductible interest. Consult your tax advisor for your individual situation.
  • Our interest rates are variable, and are tied to the Prime Rate.
  • Payments are low – and we even offer an "interest only" option.
  • No points. No application fee. And ask about special programs offerings no closing costs.
  • Interest rate protection -- Farmers & Merchants Bank offers a lifetime cap on increases in your interest rate.
  • Subject to credit approval
     


More About Home Equity Loans

A home equity loan is a good choice if you need money for a one-time expense.

The maximum amount you can borrow depends on the appraised value of your home and the balance of your first mortgage. If your first mortgage is also with Farmers & Merchants, we can lend even more.
No points. No application fee. And ask about special programs offerings no closing costs.
Borrow a lump sum at a fixed interest rate with convenient terms.

As you are completing the Consumer Loan Application, please gather up the following documents, which will speed along the processing of your request:

  • For all applicants, copies of recent paystubs or your last tax return
  • If you are self-employed, copies of your last signed federal tax returns (1040s with all schedules)
  • If you are retired, copies of 1099s for all social security and/or pension or retirement income for the last two years.
  • If you plan to use your line or loan for debt-consolidation, please bring your monthly billing statements, coupon books, etc.
     

Insurance Options

Hazard Insurance:
If your application is approved, you will need to provide Farmers & Merchants Bank with proof of hazard insurance. The amount of insurance required is determined by adding your current mortgage balance to the amount of home equity financing for which you have been approved.

Flood Insurance:
If it is determined that your property is in a flood zone, you will be required to carry flood insurance as required by the Biggert-Waters Reform Act of 2012 and the National Flood Insurance Program.

To apply for a Farmers & Merchants Bank home equity loan or line of credit, contact us and we'll start the process. Or, visit your local branch office to speak with a loan officer.

If a loan isn't what you're looking for, check out an F&M Bank Visa Credit Card.