Encore Bank Mortgage Rates, Fees & Info

Little Rock, AR

LEI: 5493000JFVFQFL816N45

Tax ID: 62-1700716

5 stars - out of 5 stars, based on 37 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Encore Bank is a smaller bank specializing in Home Purchase and Refi loans. Encore Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Little Rock, Fayetteville, Jonesboro, Dallas, and Austin among others. We have data for 70 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Encore Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Encore Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.32% 10/3/22
    30 Year Conventional Refi 6.05% 10/3/22
    30 Year Cash-out Refi 6.46% 10/3/22
    30 Year FHA Purchase 6.94% 10/3/22
    30 Year FHA Refi 7.11% 10/3/22
    30 Year VA Purchase 5.97% 10/3/22
    30 Year VA Refi 5.85% 10/3/22
    30 Year USDA Purchase 6.46% 10/3/22
    15 Year Conventional Purchase 6.37% 10/3/22
    15 Year Conventional Refi 5.88% 10/3/22
    15 Year Cash-out Refi 5.88% 10/3/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    1,370

    Origination Dollar Volume (All Markets)

    $455,240,000
    Show all (18) awards

    Relative Rate

    Encore Bank's average 30 year fixed mortgage rate was 2.81%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.34%.

    Relative Fees (Closing Costs)

    Encore Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,298.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 572 $169,500,000 $296,329 $3,127 3.01%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 280 $89,310,000 $318,964 $3,071 2.83%
    JONESBORO, AR (FHA|USDA|VA) 195 $57,405,000 $294,385 $2,708 3.08%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 60 $36,390,000 $606,500 $4,850 2.75%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 8 $12,610,000 $1,576,250 $17,764 3.03%
    Outside of Metro Areas 41 $12,495,000 $304,756 $3,860 3.21%
    HOT SPRINGS, AR (FHA|USDA|VA) 32 $12,200,000 $381,250 $3,521 3.15%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 7 $8,785,000 $1,255,000 $4,384 3.78%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $4,910,000 $491,000 $3,291 3.30%
    SPRINGFIELD, MO (FHA|USDA|VA) 18 $4,820,000 $267,778 $2,221 2.12%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 12 $4,380,000 $365,000 $5,487 2.42%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 15 $3,585,000 $239,000 $4,056 3.08%
    Paragould, AR (FHA|USDA|VA) 23 $3,345,000 $145,435 $2,927 3.21%
    FORT SMITH, AR-OK (FHA|USDA|VA) 7 $2,715,000 $387,857 $2,525 2.66%
    Huntsville, TX (FHA|USDA|VA) 1 $2,365,000 $2,365,000 $0 4.15%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $1,725,000 $1,725,000 $17,211 3.15%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 5 $1,655,000 $331,000 $3,811 2.92%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 5 $1,655,000 $331,000 $3,313 3.23%
    Searcy, AR (FHA|USDA|VA) 7 $1,435,000 $205,000 $3,791 2.57%
    SAN ANGELO, TX (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 4.10%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $1,195,000 $1,195,000 $6,766 3.25%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $1,135,000 $378,333 $2,375 2.75%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $1,090,000 $545,000 $3,974 2.75%
    Mountain Home, AR (FHA|USDA|VA) 4 $990,000 $247,500 $3,112 3.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $880,000 $440,000 $4,686 2.81%
    MOBILE, AL (FHA|USDA|VA) 3 $865,000 $288,333 $2,408 2.33%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $785,000 $785,000 $4,906 3.25%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $780,000 $390,000 $5,268 3.50%
    Bluefield, WV-VA (FHA|USDA|VA) 2 $760,000 $380,000 $3,423 2.75%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $710,000 $355,000 $0 4.25%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $675,000 $675,000 $8,364 3.15%
    Harrison, AR (FHA|USDA|VA) 4 $650,000 $162,500 $2,173 3.00%
    EL PASO, TX (FHA|USDA|VA) 1 $645,000 $645,000 $0 4.00%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $545,000 $545,000 $6,446 2.88%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $545,000 $545,000 $3,659 3.63%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $545,000 $545,000 $3,162 1.99%
    RICHMOND, VA (FHA|USDA|VA) 1 $545,000 $545,000 $4,347 2.50%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $535,000 $535,000 $3,137 2.75%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $525,000 $525,000 $3,562 2.87%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $475,000 $475,000 $4,455 3.75%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $445,000 $445,000 $3,698 1.99%
    Taos, NM (FHA|USDA|VA) 1 $435,000 $435,000 $2,346 2.99%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $425,000 $425,000 $0 3.85%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $425,000 $425,000 $4,074 3.13%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $415,000 $415,000 $3,367 2.88%
    El Dorado, AR (FHA|USDA|VA) 2 $410,000 $205,000 $1,949 2.88%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $375,000 $375,000 $4,824 3.43%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $365,000 $365,000 $2,443 1.00%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 3.90%
    Arkadelphia, AR (FHA|USDA|VA) 2 $330,000 $165,000 $1,826 2.56%
    Branson, MO (FHA|USDA|VA) 1 $325,000 $325,000 $2,283 3.25%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $320,000 $160,000 $1,531 3.00%
    TULSA, OK (FHA|USDA|VA) 2 $290,000 $145,000 $2,894 3.31%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $285,000 $285,000 $2,296 2.63%
    Blytheville, AR (FHA|USDA|VA) 2 $270,000 $135,000 $3,045 3.13%
    Cookeville, TN (FHA|USDA|VA) 1 $225,000 $225,000 $2,012 2.50%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $225,000 $225,000 $1,886 2.75%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 3.63%
    Tupelo, MS (FHA|USDA|VA) 1 $205,000 $205,000 $2,712 3.50%
    GRAND JUNCTION, CO (FHA|USDA|VA) 1 $195,000 $195,000 $6,241 2.75%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $185,000 $185,000 $1,493 2.75%
    LAKE CHARLES, LA (FHA|USDA|VA) 1 $175,000 $175,000 $5,611 2.75%
    Kennett, MO (FHA|USDA|VA) 1 $165,000 $165,000 $2,298 2.99%
    Batesville, AR (FHA|USDA|VA) 1 $165,000 $165,000 $5,238 2.75%
    LAWRENCE, KS (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.88%
    Stephenville, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,692 2.50%
    COLUMBIA, MO (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.75%
    JOPLIN, MO (FHA|USDA|VA) 1 $95,000 $95,000 $0 3.50%
    Fort Leonard Wood, MO (FHA|USDA|VA) 1 $75,000 $75,000 $2,775 2.75%
    PINE BLUFF, AR (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.95%

    Encore Bank's top markets include Little Rock, Fayetteville, Jonesboro, Dallas, and Austin among others.

    Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,240 $424,370,000 $342,234 $2,984 3.02%
    VA 64 $17,840,000 $278,750 $5,822 2.48%
    FHA 49 $9,775,000 $199,490 $5,904 2.55%
    USDA 17 $3,255,000 $191,471 $4,355 2.60%

    For 2021, Encore Bank's most frequently originated type of loan was Conventional, with 1,240 originations. Their 2nd most popular type was VA, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 749 $264,545,000 $353,198 $3,763 3.12%
    Refi 451 $148,545,000 $329,368 $2,626 2.75%
    Cash Out Refi 163 $39,845,000 $244,448 $3,037 2.88%
    Home Improvement 6 $1,900,000 $316,667 $0 4.35%
    Other 1 $405,000 $405,000 $3,519 1.00%

    For 2021, Encore Bank's most frequently cited loan purpose was Home Purchase, with 749 originations. The 2nd most popular reason was Refi, with 451 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 838 $226,970,000 $270,847 $3,298 2.81%
    Other 179 $111,305,000 $621,816 $4,307 3.06%
    15 Year 162 $37,940,000 $234,198 $2,446 2.37%
    5 Year 108 $58,310,000 $539,907 $1,082 4.36%
    10 Year 33 $10,915,000 $330,758 $3,517 3.45%
    20 Year 30 $6,220,000 $207,333 $2,113 2.75%
    1 Year 19 $3,375,000 $177,632 $0 6.30%
    3 Year 1 $205,000 $205,000 $0 4.50%

    For 2021, Encore Bank's most frequently cited loan duration was 30 Year, with 838 originations. The 2nd most popular length was Other, with 179 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 951 $260,725,000 $274,159
    $1k-2k 94 $22,430,000 $238,617
    $2k-3k 26 $9,170,000 $352,692
    $3k-4k 15 $7,775,000 $518,333
    $5k+ 10 $20,160,000 $2,016,000
    $4k-5k 9 $7,215,000 $801,667

    Encore Bank's average total fees were $3,298, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 951 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 530 $143,050,000 $269,906
    <2.5% 385 $102,095,000 $265,182
    3-4% 331 $181,025,000 $546,903
    4-5% 99 $25,625,000 $258,838
    6-7% 14 $1,420,000 $101,429
    5-6% 10 $1,750,000 $175,000

    During 2021, Encore Bank's average interest rate for loans was 2.81%, while their most frequently originated rate bucket for loans was 2.5-3%, with 530 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 582 $162,450,000 $279,124 $3,213 2.84%
    $100k-200k 455 $68,275,000 $150,055 $2,554 3.03%
    $400k-600k 161 $78,875,000 $489,907 $3,713 2.71%
    $100,000 or less 101 $7,585,000 $75,099 $2,071 3.71%
    $1MM+ 36 $110,910,000 $3,080,833 $13,989 3.56%
    $600k-1MM 35 $27,145,000 $775,571 $7,144 3.18%

    2021 saw Encore Bank place emphasis on $200k-400k loans with 582 originations, totaling $162,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 286 $76,900,000 $268,881 $2,928 2.85%
    $50k-75k 234 $47,830,000 $204,402 $3,113 2.85%
    $150k-250k 198 $65,730,000 $331,970 $3,514 2.92%
    $75k-100k 175 $40,205,000 $229,743 $3,045 2.86%
    $250k+ 137 $75,585,000 $551,715 $5,179 2.98%
    $50k or less 132 $20,970,000 $158,864 $2,911 2.76%

    Encore Bank lent most frequently to those with incomes in the $100k-150k range, with 286 originations. The second most popular income band? $50k-75k, with 234 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 295 $77,185,000 $261,644 $2,913 2.74%
    30-36% 213 $59,705,000 $280,305 $3,128 2.77%
    <20% 155 $46,525,000 $300,161 $3,068 2.55%
    39% 54 $15,570,000 $288,333 $3,329 2.83%
    41% 48 $11,180,000 $232,917 $2,996 2.96%
    42% 46 $13,380,000 $290,870 $3,470 2.73%
    44% 43 $13,065,000 $303,837 $3,742 2.95%
    40% 42 $11,170,000 $265,952 $2,993 2.84%
    38% 40 $13,590,000 $339,750 $3,412 2.88%
    37% 40 $11,360,000 $284,000 $2,735 2.85%
    36% 40 $10,290,000 $257,250 $3,096 2.84%
    43% 38 $10,120,000 $266,316 $3,460 2.91%
    45% 30 $10,210,000 $340,333 $3,479 3.04%
    49% 25 $9,285,000 $371,400 $6,375 2.84%
    50-60% 24 $5,140,000 $214,167 $6,309 2.77%
    46% 18 $5,810,000 $322,778 $3,615 2.96%
    48% 17 $5,405,000 $317,941 $4,070 2.99%
    47% 16 $5,860,000 $366,250 $4,894 2.99%
    >60% 1 $135,000 $135,000 $4,497 2.50%

    Encore Bank lent most frequently to those with DTI ratios of 20-30%, with 295 originations. The next most common DTI ratio? 30-36%, with 213 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,104 $311,640,000 $282,283 $3,243 2.79%
    Not applicable 142 $106,700,000 $751,408 $0 4.52%
    Asian 43 $15,905,000 $369,884 $4,122 2.94%
    Not provided 33 $9,935,000 $301,061 $4,027 2.71%
    Black 40 $9,350,000 $233,750 $3,320 2.94%
    American Indian 8 $1,710,000 $213,750 $3,984 2.71%

    Approval Rates

    Total approvals of all applications
    96.10%

    Encore Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    77.81%

    Encore Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,370 $455,240,000 $332,292

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,370 $455,240,000 $332,292

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $8,910,000 $178,200 $2,320 2.57%
    40-60% 152 $42,410,000 $279,013 $2,741 2.72%
    60-80% 552 $220,670,000 $399,764 $3,026 3.01%
    80-100% 594 $178,090,000 $299,815 $3,573 3.03%
    Over 100% 13 $4,165,000 $320,385 $11,755 2.62%
    Under 20% 9 $995,000 $110,556 $1,103 4.79%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    ENCORE CAPITAL GROUP INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    ENCORE CAPITAL GROUP INC. Conventional home mortgage Closing on a mortgage 1 25.0%
    ENCORE CAPITAL GROUP INC. Conventional home mortgage Struggling to pay mortgage 1 25.0%
    ENCORE CAPITAL GROUP INC. Conventional home mortgage Trouble during payment process 1 25.0%