Loan Specials

Special Consumer Loan Rates Limited Time Offer!!

We’ve been financing life in the Valley since 1908, and we’re opening our vaults to make consumer loans with some great low rates:

1) Home Equity Loans with low fixed rates* and Low Closing Costs
Term of the loan can be anywhere from 3 to 10 years
Payments and interest rate are fixed for the life of the loan
Use the funds for home improvements, debt consolidation, or any purpose!

The equity in your home can go to work for you.     

3 - 6 Year Loan - 5.32% APR
7 - 10 Year Loan - 5.57% APR*
  

*Certain credit criteria apply to qualify for this rate. Other rates and terms available. The Annual Percentage Rate (APR) is for new consumer purpose loans with a Combined Loan-to-Value ratio (CLTV) of 80% or less (higher if our bank holds the first deed of trust), a repayment term of 36 months up to 120 months, and automatic payment deduction from a Farmers & Merchants deposit account. Property insurance is required. Minimum loan amount $25,000; the bank will pay the majority of closing costs; if loan is paid off in less than two years, some penalty may be imposed. Closing costs generally range from $300 to $700. External appraisal cost is the responsibility of the borrower.
Payment example: $25,000/6-year term loan at 5.32% APR would result in a monthly payment of $406.43
Payment example: $25,000/10-year term loan at 5.57% APR would result in a monthly payment of $272.19.
Other rates and terms available
.

2) Home Equity Line of Credit tied to the Prime Rate** - currently 4.00% APR - and Low Closing Costs


All the details you need to know: The Annual Percentage Rate (APR) is for new equity lines of $25,000 or more with a combined loan-to-value ratio (CLTV) of 80% or less (higher if our bank holds the first deed of trust). The APR is Prime Rate (3.25% as of 6/25/12) with a minimum interest rate of 4.00% APR. The rate is variable and the maximum APR is 16%. Other rates and terms available. Property insurance is required. Normal credit approval applies. For new loans of $25,000+, the bank will pay the majority of closing costs. Closing costs generally range from $300 to $700. External appraisal cost is the responsibility of the borrower. If you pay the outstanding balance and close the account on or before one calendar year after the opening date of the account you will reimburse Farmers & Merchants Bank $400 of the closing costs; if paid off within the second calendar year, your reimbursement will be $200.This is a limited time offer that may be withdrawn or changed at any time without notice.
**The Prime Rate as listed in The Wall Street Journal

Payment Example: On a $ 25,000 HELOC with the 1.5 % minimum payment at the 4.0 % floor interest rate, the initial minimum monthly payment would be $ 375.00. The portion of this payment going towards the interest would be $83.33 and $291.67 towards the principal.

Payment example, interest-only option: On a $ 25,000 HELOC with the interest only payment at the 4.0 % floor interest rate, the initial minimum monthly interest payment would be $ 83.33

 

3) Consumer Loans for any purpose at 7.08% APR***
Buy a car, consolidate debts, go on a vacation – our loan can finance it all!
Term of the loan up to 42 months.

***Certain credit criteria apply to qualify for this rate. Other rates and terms available. The Annual Percentage Rate (APR) is for new consumer purpose loans, a repayment term up to 42 months, and automatic payment deduction from a Farmers & Merchants deposit account. Minimum loan amount $2,500 in new funds. Payment example: $5,000/42-month term loan at 7.08% APR would result in a monthly payment of $134.79.

205 S. Main St.     P.O. Box 1111     Timberville, VA 22853     (540) 896-8941