Desco Mortgage Rates, Fees & Info

Portsmouth, OH

LEI: 5493002G1DPDOKT55X37

Tax ID: 31-6042202

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Desco is a smaller mortgage company specializing in Home Purchase and Cash Out Refi 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, Lexington, Sevierville, and Cincinnati among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Desco 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. 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 6.87% 12/16/24
    30 Year Conventional Refi 6.54% 12/16/24
    30 Year Cash-out Refi 6.92% 12/16/24
    30 Year FHA Purchase 7.03% 12/16/24
    30 Year VA Purchase 6.47% 12/16/24
    30 Year USDA Purchase 6.93% 12/16/24
    15 Year Conventional Purchase 5.77% 12/16/24
    15 Year Conventional Refi 5.89% 12/16/24
    15 Year Cash-out Refi 5.89% 12/16/24
    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.

    Desco Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Desco. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    475

    Origination Dollar Volume (All Markets)

    $55,715,000
    Show all (7) awards

    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) 232 $27,730,000 $119,526 $2,204 4.55%
    Portsmouth, OH (FHA|USDA|VA) 217 $24,325,000 $112,097 $2,276 4.66%
    Outside of Metro Areas 15 $1,755,000 $117,000 $2,361 4.27%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 3 $855,000 $285,000 $1,522 4.00%
    Sevierville, TN (FHA|USDA|VA) 1 $225,000 $225,000 $11,092 4.13%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $220,000 $110,000 $2,119 3.81%
    COLUMBUS, OH (FHA|USDA|VA) 1 $155,000 $155,000 $1,977 3.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,262 3.88%
    Richmond-Berea, KY (FHA|USDA|VA) 1 $145,000 $145,000 $1,977 4.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $115,000 $115,000 $2,497 4.00%
    Athens, OH (FHA|USDA|VA) 1 $35,000 $35,000 $1,702 5.38%
    Desco's top markets include Huntington, Portsmouth, Lexington, Sevierville, and Cincinnati among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • 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.

    Huntington Federal Savings Bank
    Similarity Rank: 12
    Liberty Bank
    Similarity Rank: 64
    The Ohio Valley Bank Company
    Similarity Rank: 126
    City National Bank of West Virginia
    Similarity Rank: 234
    DESCO
    Similarity Rank: 308
    Community Trust Bank, Inc.
    Similarity Rank: 588
    The First State Bank
    Similarity Rank: 893
    Peoples Bank
    Similarity Rank: 1062
    MYCUMORTGAGE, LLC
    Similarity Rank: 1078
    United Bank
    Similarity Rank: 1281

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 422 $49,290,000 $116,801 $2,082 4.65%
    USDA 23 $2,175,000 $94,565 $3,276 3.88%
    VA 22 $3,300,000 $150,000 $3,656 4.00%
    FHA 8 $950,000 $118,750 $4,310 4.53%

    For 2019, Desco's most frequently originated type of loan was Conventional, with 422 originations. Their 2nd most popular type was USDA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 276 $31,240,000 $113,188 $2,450 4.46%
    Cash Out Refi 107 $13,865,000 $129,579 $2,026 4.68%
    Refi 40 $5,970,000 $149,250 $1,989 4.43%
    Other 30 $3,110,000 $103,667 $2,340 4.67%
    Home Improvement 22 $1,530,000 $69,545 $1,537 5.74%

    For 2019, Desco's most frequently cited loan purpose was Home Purchase, with 276 originations. The 2nd most popular reason was Cash Out Refi, with 107 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 207 $28,635,000 $138,333 $2,651 4.26%
    15 Year 126 $11,830,000 $93,889 $1,929 4.56%
    20 Year 52 $7,470,000 $143,654 $2,069 4.30%
    10 Year 39 $1,715,000 $43,974 $1,586 5.14%
    5 Year 36 $4,130,000 $114,722 $947 5.96%
    Other 12 $1,710,000 $142,500 $1,766 5.07%
    1 Year 2 $220,000 $110,000 $0 4.88%
    3 Year 1 $5,000 $5,000 $0 9.99%

    For 2019, Desco's most frequently cited loan duration was 30 Year, with 207 originations. The 2nd most popular length was 15 Year, with 126 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 397 $45,115,000 $113,640
    $1k-2k 12 $1,820,000 $151,667
    $5k+ 2 $510,000 $255,000
    $2k-3k 1 $275,000 $275,000

    Desco's average total fees were $2,651, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 397 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 216 $26,480,000 $122,593
    3-4% 157 $19,925,000 $126,911
    5-6% 80 $8,150,000 $101,875
    Over 8% 13 $355,000 $27,308
    6-7% 6 $440,000 $73,333
    7-8% 2 $80,000 $40,000
    2.5-3% 1 $285,000 $285,000

    During 2019, Desco's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 4-5%, with 216 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 256 $14,550,000 $56,836 $1,940 4.82%
    $100k-200k 163 $22,815,000 $139,969 $2,345 4.30%
    $200k-400k 43 $10,815,000 $251,512 $3,446 4.25%
    $400k-600k 9 $4,215,000 $468,333 $2,917 4.40%
    $600k-1MM 3 $2,065,000 $688,333 $4,237 4.67%
    $1MM+ 1 $1,255,000 $1,255,000 $0 5.25%

    2019 saw Desco place emphasis on $100,000 or less loans with 256 originations, totaling $14,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 130 $12,690,000 $97,615 $2,140 4.46%
    $50k or less 117 $8,405,000 $71,838 $2,276 4.68%
    $75k-100k 88 $11,650,000 $132,386 $2,248 4.39%
    $100k-150k 55 $7,315,000 $133,000 $2,683 4.60%
    $150k-250k 27 $4,765,000 $176,481 $2,246 4.79%
    $250k+ 11 $3,755,000 $341,364 $3,261 4.55%

    Desco lent most frequently to those with incomes in the $50k-75k range, with 130 originations. The second most popular income band? $50k or less, with 117 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 110 $10,730,000 $97,545 $2,174 4.50%
    30-36% 76 $8,300,000 $109,211 $2,266 4.68%
    <20% 44 $4,910,000 $111,591 $2,331 4.73%
    36% 19 $2,155,000 $113,421 $2,336 4.30%
    38% 14 $1,680,000 $120,000 $4,036 4.70%
    43% 14 $1,840,000 $131,429 $2,257 4.54%
    37% 13 $1,225,000 $94,231 $2,513 4.37%
    44% 13 $1,525,000 $117,308 $2,398 4.62%
    40% 13 $1,605,000 $123,462 $2,286 4.47%
    42% 10 $1,570,000 $157,000 $1,998 4.36%
    41% 10 $1,170,000 $117,000 $2,630 4.46%
    39% 9 $1,235,000 $137,222 $2,198 4.44%
    46% 8 $710,000 $88,750 $1,750 5.14%
    >60% 8 $470,000 $58,750 $1,890 5.17%
    47% 7 $1,555,000 $222,143 $3,631 4.43%
    50-60% 7 $1,375,000 $196,429 $5,206 4.75%
    45% 5 $855,000 $171,000 $2,635 4.05%
    48% 4 $440,000 $110,000 $2,000 4.41%
    49% 4 $1,370,000 $342,500 $2,532 4.66%

    Desco lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? 30-36%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 407 $46,305,000 $113,771 $2,261 4.54%
    Not applicable 31 $5,015,000 $161,774 $0 5.38%
    Not provided 31 $4,025,000 $129,839 $2,313 4.32%
    Black 5 $345,000 $69,000 $1,899 4.60%
    Asian 1 $25,000 $25,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    91.91%

    Desco has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.58%

    Desco has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 475 $55,715,000 $117,295

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $135,000 $135,000
    Multifamily:Site-Built 4 $2,860,000 $715,000
    Single Family (1-4 Units):Manufactured 39 $2,505,000 $64,231
    Single Family (1-4 Units):Site-Built 431 $50,215,000 $116,508

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $1,375,000 $47,414 $1,680 5.82%
    40-60% 48 $5,180,000 $107,917 $2,069 4.56%
    60-80% 158 $19,690,000 $124,620 $2,245 4.68%
    80-100% 174 $22,850,000 $131,322 $2,600 4.35%
    Over 100% 3 $705,000 $235,000 $7,216 3.71%
    Under 20% 9 $225,000 $25,000 $1,037 6.30%