Business Details
About
Mortgage Lender
F&M Mortgage has been offering full-service home mortgages to the Shenandoah Valley and beyond since 1999. Along with parent company F&M Bank, our professional mortgage advisors have loan options and mortgages to meet your residential and commercial lending needs. Serving the Shenandoah Valley and beyond, including VA, WV, MD, DE, PA, NC, and FL.
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- JBJackie BeverageMar 1, 20235.0Where do I begin? From the word go, Tina was just amazing! We absolutely loved working with her. She was on top of everything. We literally closed three weeks from the first day that we saw our house. I don’t know how she did it but her and the F&M team were the best I’ve ever worked with. Tina was quick to get back to me with answers to my questions. She was knowledgeable about many different kinds of loans and very friendly. I highly, highly recommend working with her.
- JAJeff AreyFeb 9, 20235.0Mortgage Advisor, Tina Lantz is very professional. She also provides great advice, service and care for her clients. Tina is always doing good things in the community.
- JHJoe HolcombJun 4, 20193.0Not happy that they sold my loan before closing. I wanted to deal with F&M not the one they sold loan too. Total disappointment.
- CPChristina PhillipsNov 1, 20185.0Fabulous team of people. They offer solutions, not big bank road blocks! Give them a try.
- TCT CussonSep 11, 20185.0I had a very pleasant experience with F&M mortgage. I am a first time home buyer, and they helped me every step of the way.
Frequently Asked Questions About F&M Mortgage Staunton
What is F&M Bank's Routing Number
F&M Bank's Routing Number is: 051404419
How do I know how much house I can afford?
Generally speaking, the average household can afford a house payment up to 30% of their monthly income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.
What is the difference between a fixed-rate loan and an adjustable-rate loan?
With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.
How is an index margin used in an ARM?
An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).
How do I know which type of mortgage is best for me?
There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. F&M Mortgage can help you evaluate your choices and help you make the most appropriate decision.
What does my mortgage payment incluide?
For most homeowners, the monthly mortgage payments include three separate parts:
- Principal: Repayment on the amount borrowed
- Interest: Payment to the lender for the amount borrowed
- Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.
How much cash will I need to purchase a home?
The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:
- Earnest Money: The deposit that is supplied when you make an offer on the house
- Down Payment: A percentage of the cost of the home that is due at settlement
- Closing Costs: Costs associated with processing paperwork to purchase or refinance a house
What are the holiday drive-through hours for F&M Mortgage Staunton?
On certain holidays, F&M Mortgage Staunton may be closed or have limited drive-through hours. For example, closed on Nov 11, Nov 27, Dec 25, and Jan 1. Open from 8:30 AM to 12:00 PM on Dec 24 and 8:30 AM to 2:00 PM on Dec 31.
Is F&M Mortgage Staunton open during regular weekdays?
F&M Mortgage Staunton is closed on all regular weekdays and weekends, but may operate on select holiday hours.
What is F&M Bank's routing number?
F&M Bank's routing number is 051404419.
How can I determine how much house I can afford with F&M Mortgage?
Generally, you can afford a house payment up to 30% of your monthly income, but the exact amount depends on your employment history, credit, savings, debts, and down payment. F&M Mortgage can help you determine your specific affordability.
What is the difference between a fixed-rate and an adjustable-rate mortgage?
A fixed-rate mortgage has a constant interest rate for the loan duration, while an adjustable-rate mortgage (ARM) has rates that change periodically based on an index plus a margin. F&M Mortgage can help you choose the best option.
What does a typical mortgage payment include at F&M Mortgage?
Mortgage payments generally include principal (loan repayment), interest, and taxes & insurance which may go into an escrow account for hazard insurance and property taxes.
Who are some nearby real estate agents customers can consult with near F&M Mortgage Staunton?
Nearby real estate agents include Colby Shifflett, Peyton Brooks Realtor, Keri Martin, Cheryl Tsakis, Ashley Williams, and others. These agents can assist with buying or selling homes, complementing F&M Mortgage's lending services.
Are there any nearby financial services to complement F&M Mortgage's offerings?
Edward Jones, a financial advising and investing service, is nearby and can provide investment advice alongside F&M Mortgage's mortgage services.
What other mortgage brokers are located near F&M Mortgage Staunton?
Julie Slayton and Brandy L Wimer are nearby mortgage brokers who can provide additional options and support for home loans.
How can clients reach out to F&M Mortgage Staunton for inquiries?
Clients can contact F&M Mortgage Staunton by phone at +1 540-466-8540 or via email at info@fmhome.com. More information is available at their website https://www.fmbankva.com/mortgages/.