Beverly - Hanks Mortgage Services Rates, Fees & Info
Asheville, NCLEI: 5493000JHK8ZOZKD8J96
Tax ID: 56-2172712
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Mortgage Data
Review & Overview
Beverly - Hanks Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. Beverly - Hanks Mortgage Services has a high proportion of conventional loans. Their top (well, only) market is Asheville.Beverly - Hanks Mortgage Services has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Beverly - Hanks Mortgage Services is typically a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.46% | 2/16/25 |
| 30 Year Conventional Purchase | 6.35% | 2/16/25 |
| 30 Year Conventional Refi | 6.55% | 2/16/25 |
| 30 Year Cash-out Refi | 6.45% | 2/16/25 |
| 30 Year FHA Purchase | 6.27% | 2/16/25 |
| 30 Year VA Purchase | 6.43% | 2/16/25 |
| 15 Year Conventional Purchase | 5.68% | 2/16/25 |
| 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. | ||
Beverly - Hanks Mortgage Services Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1Origination Dollar Volume (All Markets)
$185,000Top 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 |
|---|---|---|---|---|---|
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,385 | 3.25% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1 | $185,000 | $185,000 | $3,385 | 3.25% |
For 2021, Beverly - Hanks Mortgage Services's most frequently originated type of loan was Conventional, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1 | $185,000 | $185,000 | $3,385 | 3.25% |
For 2021, Beverly - Hanks Mortgage Services's most frequently cited loan purpose was Home Purchase, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1 | $185,000 | $185,000 | $3,385 | 3.25% |
For 2021, Beverly - Hanks Mortgage Services's most frequently cited loan duration was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1 | $185,000 | $185,000 |
Beverly - Hanks Mortgage Services's average total fees were $3,385, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $185,000 | $185,000 |
During 2021, Beverly - Hanks Mortgage Services's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 1 | $185,000 | $185,000 | $3,385 | 3.25% |
2021 saw Beverly - Hanks Mortgage Services place emphasis on $100k-200k loans with 1 originations, totaling $185,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 1 | $185,000 | $185,000 | $3,385 | 3.25% |
Beverly - Hanks Mortgage Services lent most frequently to those with incomes in the $50k or less range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 36% | 1 | $185,000 | $185,000 | $3,385 | 3.25% |
Beverly - Hanks Mortgage Services lent most frequently to those with DTI ratios of 36%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $185,000 | $185,000 | $3,385 | 3.25% |
Approval Rates
Total approvals of all applications85.91%
Beverly - Hanks Mortgage Services has an average approval rate.
Pick Rate
Approvals leading to origination-12,200.00%
Beverly - Hanks Mortgage Services has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1 | $185,000 | $185,000 |