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Determining your down payment:

How much you need for a down payment depends on the type of loan and how much the house costs, but, ultimately, the more you can put towards a down payment, the lower your monthly payment can be and the more you’ll save on interest and private mortgage insurance (PMI). 

Along with your down payment, you will have to pay closing costs.  These fees can vary depending on the price of the house and type of mortgage, but typically estimate between 2% to 5% of the home’s price.

Determining the right home loan – which option is best for you?

  • Fixed Rate Conventional Mortgage (Freddie Mac) – 20% down payment  
    • Fixed monthly principal and interest (P&I) payments for the entirety of the loan.
    • 30, 20, and 15 year options.
    • APPLY NOW!
  • Adjustable Rate Mortgage (ARM) – 20% down payment
    • Lower interest rate and monthly P&I payments than on a fixed rate mortgage.
    • Rates and monthly payments can change after the initial fixed rate period.
    • 1/1, 3/1, and 5/1 ARM options are available.
    • APPLY NOW!
  • Low Down Payment Options:
    • Home Possible Mortgage
      • Down payment as low as 3% on a conventional fixed rate mortgage.
      • Not restricted to first-time homebuyers.
      • Learn more – Click Here!
      • APPLY NOW!
    • Home One Mortgage
      • Down payment as low as 3% on conventional fixed rate mortgage.
      • Must be a first-time homebuyer (no home ownership in the preceding three year period).
      • Learn more – Click Here!
      • APPLY NOW
    • Government Mortgage Loan Options:
    • Home Refinance (cash-out refinance) – Use the lendable equity in your home to replace your existing mortgage with a new loan that is larger than the original loan – you’ll have access to additional funds for major expenses.
    • Home Refinance (rate/term refinance) – Refinance your existing loan to take advantage of lower rates and/or lower your term to pay off your mortgage sooner.
    • Home Equity Line of Credit (HELOC) – Use the lendable equity in your existing home for a revolving line of credit with a low interest rate.
    • Home Improvement Loan – Use the lendable equity in your existing home for home renovations.
    • HUD Title 1 Property Improvement Loan – A loan for home improvements not to exceed $25,000.
      • APPLY NOW!
      • No appraisal required.
      • No home equity required.
    • Construction Loan – a loan for those building a newly constructed house.

    Applying for your Loan

    Once you have determined which home loan is right for your current circumstances, you may complete the appropriate application above.  Once the application is completed, you may either submit online, via email, or hand-deliver to one of our lenders listed below.  If you would rather complete an application in-person, please contact one of our knowledgeable lenders near you to discuss the best option for your situation.

Loan Officers

Erin Bio pic

Erin Otten
Vice President / Loan Officer
NMLS #897590
(573) 221-6425 Ext. 320

T Blake Wyatt Bio pic

T. Blake Wyatt
Executive Vice President / Chief Lending Officer
NMLS #1084149
(573) 221-6425 Ext. 350

Lori Watson Bio pic

Lori Watson
Vice President / Loan Officer
NMLS #707576
(573) 735-4749

Mary Gibbons Bio pic

Mary Gibbons
Vice President / Loan Officer
NMLS #590927
(573) 221-6425 Ext. 323


Jessica Hawkins
Assistant Vice President / Loan Officer
NMLS #2527669
(573) 221-6425 Ext. 374

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To become better acquainted with F&M Bank and Trust Company, call us toll free at 877-221-6424 or stop in. We're here to help!

505 Broadway
PO Box 938
Hannibal, MO 63401

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Routing number (281573013)


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