Encore Bank Mortgage Rates, Fees & Info
Little Rock, ARLEI: 5493000JFVFQFL816N45
Tax ID: 62-1700716
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Mortgage Data
Review & Overview
Encore Bank is a smaller bank specializing in Refi and Home Purchase 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, Springfield, and Crestview among others. We have data for 35 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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.13% | 4/21/24 |
| 30 Year Conventional Refi | 4.81% | 4/21/24 |
| 30 Year Cash-out Refi | 6.56% | 4/21/24 |
| 30 Year FHA Purchase | 7.33% | 4/21/24 |
| 30 Year FHA Refi | 7.10% | 4/21/24 |
| 30 Year VA Purchase | 6.06% | 4/21/24 |
| 30 Year VA Refi | 5.66% | 4/21/24 |
| 30 Year USDA Purchase | 6.82% | 4/21/24 |
| 15 Year Conventional Purchase | 5.91% | 4/21/24 |
| 15 Year Conventional Refi | 4.88% | 4/21/24 |
| 15 Year Cash-out Refi | 4.88% | 4/21/24 |
| 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. | ||
Encore Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
698Origination Dollar Volume (All Markets)
$237,030,000Top 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) | 228 | $72,630,000 | $318,553 | $0 | 0.00% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 227 | $66,555,000 | $293,194 | $0 | 0.00% |
| JONESBORO, AR (FHA|USDA|VA) | 144 | $43,770,000 | $303,958 | $0 | 0.00% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 2 | $13,350,000 | $6,675,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 5 | $5,795,000 | $1,159,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 15 | $5,245,000 | $349,667 | $0 | 0.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 13 | $4,795,000 | $368,846 | $0 | 0.00% |
| Outside of Metro Areas | 14 | $3,980,000 | $284,286 | $0 | 0.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 9 | $3,535,000 | $392,778 | $0 | 0.00% |
| Pittsburg, KS (FHA|USDA|VA) | 1 | $2,565,000 | $2,565,000 | $0 | 0.00% |
| VICTORIA, TX (FHA|USDA|VA) | 1 | $1,705,000 | $1,705,000 | $0 | 0.00% |
| Paragould, AR (FHA|USDA|VA) | 6 | $1,450,000 | $241,667 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $1,370,000 | $685,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $1,260,000 | $630,000 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 3 | $1,235,000 | $411,667 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| PINE BLUFF, AR (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 0.00% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| Ponca City, OK (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 0.00% |
| Mountain Home, AR (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Malvern, AR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Kennett, MO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Russellville, AR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
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Product Mix
For 2020, Encore Bank's most frequently originated type of loan was Conventional, with 659 originations. Their 2nd most popular type was FHA, with 18 originations.
Loan Reason
For 2020, Encore Bank's most frequently cited loan purpose was Refi, with 312 originations. The 2nd most popular reason was Home Purchase, with 274 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 698 | $237,030,000 | $339,585 | $0 | 0.00% |
For 2020, Encore Bank's most frequently cited loan duration was Other, with 698 originations.
Loan Sizing
2020 saw Encore Bank place emphasis on $200k-400k loans with 266 originations, totaling $73,800,000 in origination value.
Applicant Income
Encore Bank lent most frequently to those with incomes in the $100k-150k range, with 121 originations. The second most popular income band? $150k-250k, with 112 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 698 | $237,030,000 | $339,585 | $0 | 0.00% |
Encore Bank lent most frequently to those with DTI ratios of Exempt%, with 698 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.56%
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 origination87.68%
Encore Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 698 | $237,030,000 | $339,585 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 35 | $57,255,000 | $1,635,857 |
| Single Family (1-4 Units):Site-Built | 663 | $179,775,000 | $271,154 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ENCORE CAPITAL GROUP INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |