Desco Mortgage Rates, Fees & Info
Portsmouth, OHLEI: 5493002G1DPDOKT55X37
Tax ID: 31-6042202
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Mortgage Data
Review & Overview
Desco is a smaller mortgage company specializing in Home Purchase loans. Desco has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Huntington, Portsmouth, Hickory, Lexington, and Cincinnati among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Desco 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. Desco 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.72% | 5/25/25 |
| 30 Year Conventional Refi | 6.55% | 5/25/25 |
| 30 Year Cash-out Refi | 6.74% | 5/25/25 |
| 30 Year FHA Purchase | 7.73% | 5/25/25 |
| 30 Year VA Purchase | 6.87% | 5/25/25 |
| 30 Year USDA Purchase | 7.48% | 5/25/25 |
| 15 Year Conventional Purchase | 6.50% | 5/25/25 |
| 15 Year Conventional Refi | 6.00% | 5/25/25 |
| 15 Year Cash-out Refi | 6.00% | 5/25/25 |
| 15 Year FHA Purchase | 6.00% | 5/25/25 |
| 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. | ||
Desco Mortgage Calculator
Your Estimates
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This is not an official calculator from Desco. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
243Origination Dollar Volume (All Markets)
$35,895,000Awards
DESCO - 2024
DESCO is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Desco's average 30 year fixed mortgage rate was
6.68%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.13%.
Relative Fees (Closing Costs)
Desco's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,427.
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 $8,356.
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 |
|---|---|---|---|---|---|
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 123 | $18,015,000 | $146,463 | $2,411 | 7.25% |
| Portsmouth, OH (FHA|USDA|VA) | 98 | $10,630,000 | $108,469 | $3,192 | 7.23% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $2,015,000 | $2,015,000 | $8,678 | 5.75% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 4 | $1,240,000 | $310,000 | $3,443 | 6.06% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,312 | 5.81% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $5,668 | 6.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,969 | 6.50% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $5,180 | 6.00% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,258 | 5.50% |
| Outside of Metro Areas | 3 | $365,000 | $121,667 | $4,608 | 6.79% |
| Mount Sterling, KY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,263 | 6.50% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,216 | 6.50% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,086 | 7.63% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.13% |
| Athens, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,177 | 7.63% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,643 | 6.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against DESCO based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 24
Similarity Rank: 135
Similarity Rank: 162
Similarity Rank: 296
Similarity Rank: 328
Similarity Rank: 368
Similarity Rank: 462
Similarity Rank: 990
Similarity Rank: 1014
Similarity Rank: 1200
Product Mix
For 2024, Desco's most frequently originated type of loan was Conventional, with 233 originations. Their 2nd most popular type was USDA, with 6 originations.
Loan Reason
For 2024, Desco's most frequently cited loan purpose was Home Purchase, with 142 originations. The 2nd most popular reason was Cash Out Refi, with 52 originations.
Loan Duration/Length
For 2024, Desco's most frequently cited loan duration was 30 Year, with 113 originations. The 2nd most popular length was 15 Year, with 54 originations.
Origination Fees/Closing Costs
Desco's average total fees were $3,427, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 174 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 108 | $17,590,000 | $162,870 |
| 7-8% | 76 | $9,330,000 | $122,763 |
| 5-6% | 30 | $7,840,000 | $261,333 |
| Over 8% | 28 | $1,060,000 | $37,857 |
| 4-5% | 1 | $75,000 | $75,000 |
During 2024, Desco's average interest rate for loans was 6.68%, while their most frequently originated rate bucket for loans was 6-7%, with 108 originations.
Loan Sizing
2024 saw Desco place emphasis on $100,000 or less loans with 118 originations, totaling $6,270,000 in origination value.
Applicant Income
Desco lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $100k-150k, with 45 originations.
Applicant Debt to Income Ratio
Desco lent most frequently to those with DTI ratios of 20-30%, with 60 originations. The next most common DTI ratio? 30-36%, with 45 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.56%
Desco has a below average approval rate.
Pick Rate
Approvals leading to origination76.95%
Desco has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 243 | $35,895,000 | $147,716 |