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, Cash Out Refi, and Refi loans. Desco has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Huntington, Portsmouth, Chillicothe, Cincinnati, and Lexington among others. We have data for 14 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% 9/1/24
    30 Year Conventional Refi 6.54% 9/1/24
    30 Year Cash-out Refi 6.92% 9/1/24
    30 Year FHA Purchase 7.03% 9/1/24
    30 Year VA Purchase 6.47% 9/1/24
    30 Year USDA Purchase 6.93% 9/1/24
    15 Year Conventional Purchase 5.77% 9/1/24
    15 Year Conventional Refi 5.89% 9/1/24
    15 Year Cash-out Refi 5.89% 9/1/24
    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

    732

    Origination Dollar Volume (All Markets)

    $98,530,000

    Awards

    DESCO 30 Year Conventional Loans gold DESCO 30 Year Conventional Loans gold DESCO 30 Year Conventional Loans silver
    Show all (3) 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) 346 $48,420,000 $139,942 $1,875 3.07%
    Portsmouth, OH (FHA|USDA|VA) 343 $41,865,000 $122,055 $2,539 3.26%
    Outside of Metro Areas 23 $3,195,000 $138,913 $2,408 2.84%
    Chillicothe, OH (FHA|USDA|VA) 2 $1,700,000 $850,000 $2,331 3.25%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $1,225,000 $245,000 $2,694 2.98%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 4 $750,000 $187,500 $2,085 3.22%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $350,000 $175,000 $1,956 2.25%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $335,000 $335,000 $3,236 2.75%
    COLUMBUS, OH (FHA|USDA|VA) 1 $185,000 $185,000 $1,100 2.13%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $155,000 $155,000 $4,551 2.63%
    MANSFIELD, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,919 2.38%
    Mount Vernon, OH (FHA|USDA|VA) 1 $105,000 $105,000 $2,624 2.75%
    Point Pleasant, WV-OH (FHA|USDA|VA) 1 $75,000 $75,000 $1,169 2.38%
    Mount Sterling, KY (FHA|USDA|VA) 1 $55,000 $55,000 $2,279 2.75%
    Desco's top markets include Huntington, Portsmouth, Chillicothe, Cincinnati, and Lexington among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Georgia (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
    DESCO
    Similarity Rank: 490
    Community Trust Bank, Inc.
    Similarity Rank: 590
    ASHLAND Credit Union
    Similarity Rank: 987
    The Ohio Valley Bank Company
    Similarity Rank: 1178
    City National Bank of West Virginia
    Similarity Rank: 1470
    POLARIS HOME FUNDING CORP.
    Similarity Rank: 1617
    MYCUMORTGAGE, LLC
    Similarity Rank: 1778
    Summit Community Bank, Inc.
    Similarity Rank: 2052
    United Bank
    Similarity Rank: 2619

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 715 $96,535,000 $135,014 $2,202 3.15%
    VA 10 $1,430,000 $143,000 $2,284 3.09%
    USDA 7 $565,000 $80,714 $3,589 2.95%

    For 2021, Desco's most frequently originated type of loan was Conventional, with 715 originations. Their 2nd most popular type was VA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 288 $39,110,000 $135,799 $2,531 3.38%
    Cash Out Refi 200 $26,300,000 $131,500 $2,188 2.96%
    Refi 184 $28,460,000 $154,674 $1,965 2.72%
    Other 33 $2,635,000 $79,848 $1,882 3.49%
    Home Improvement 27 $2,025,000 $75,000 $1,517 4.52%

    For 2021, Desco's most frequently cited loan purpose was Home Purchase, with 288 originations. The 2nd most popular reason was Cash Out Refi, with 200 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 283 $36,675,000 $129,594 $2,115 2.92%
    30 Year 225 $31,555,000 $140,244 $2,535 3.22%
    20 Year 113 $18,455,000 $163,319 $2,193 3.04%
    10 Year 83 $9,435,000 $113,675 $1,801 3.12%
    5 Year 15 $695,000 $46,333 $925 6.34%
    Other 12 $1,530,000 $127,500 $1,446 4.28%
    1 Year 1 $185,000 $185,000 $1,457 2.63%

    For 2021, Desco's most frequently cited loan duration was 15 Year, with 283 originations. The 2nd most popular length was 30 Year, with 225 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 647 $82,905,000 $128,138
    $2k-3k 4 $450,000 $112,500
    $1k-2k 1 $215,000 $215,000
    $3k-4k 1 $155,000 $155,000
    $4k-5k 1 $155,000 $155,000

    Desco's average total fees were $2,535, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 647 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 245 $38,745,000 $158,143
    <2.5% 224 $26,540,000 $118,482
    2.5-3% 191 $26,275,000 $137,565
    4-5% 53 $6,555,000 $123,679
    Over 8% 10 $180,000 $18,000
    6-7% 7 $205,000 $29,286
    7-8% 1 $15,000 $15,000
    5-6% 1 $15,000 $15,000

    During 2021, Desco's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 245 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 326 $20,310,000 $62,301 $2,043 3.34%
    $100k-200k 289 $40,385,000 $139,740 $2,359 2.97%
    $200k-400k 98 $25,530,000 $260,510 $2,338 3.00%
    $400k-600k 11 $4,995,000 $454,091 $2,254 2.90%
    $600k-1MM 5 $3,515,000 $703,000 $1,417 3.68%
    $1MM+ 3 $3,795,000 $1,265,000 $0 4.08%

    2021 saw Desco place emphasis on $100,000 or less loans with 326 originations, totaling $20,310,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 155 $12,165,000 $78,484 $2,345 3.29%
    $50k-75k 128 $14,640,000 $114,375 $2,369 3.13%
    $100k-150k 100 $12,850,000 $128,500 $2,317 3.20%
    $75k-100k 99 $13,295,000 $134,293 $2,417 2.98%
    $150k-250k 50 $9,240,000 $184,800 $2,301 3.02%
    $250k+ 24 $5,110,000 $212,917 $2,128 3.20%

    Desco lent most frequently to those with incomes in the $50k or less range, with 155 originations. The second most popular income band? $50k-75k, with 128 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 137 $15,965,000 $116,533 $2,337 3.16%
    <20% 88 $8,520,000 $96,818 $2,321 2.99%
    30-36% 87 $11,045,000 $126,954 $2,365 3.21%
    37% 23 $2,285,000 $99,348 $2,117 3.16%
    42% 18 $2,130,000 $118,333 $2,491 4.24%
    40% 18 $2,350,000 $130,556 $2,478 3.21%
    36% 16 $1,570,000 $98,125 $2,215 3.26%
    44% 14 $1,480,000 $105,714 $2,708 2.96%
    38% 13 $1,435,000 $110,385 $2,598 3.00%
    41% 12 $1,980,000 $165,000 $2,323 3.11%
    43% 12 $1,670,000 $139,167 $2,577 3.01%
    50-60% 10 $1,360,000 $136,000 $1,728 3.61%
    45% 8 $910,000 $113,750 $2,871 3.02%
    39% 8 $1,110,000 $138,750 $2,563 3.20%
    47% 7 $915,000 $130,714 $2,623 3.09%
    46% 7 $705,000 $100,714 $2,534 3.23%
    48% 5 $615,000 $123,000 $1,904 2.75%
    49% 5 $945,000 $189,000 $2,652 3.50%
    >60% 5 $635,000 $127,000 $2,437 3.63%

    Desco lent most frequently to those with DTI ratios of 20-30%, with 137 originations. The next most common DTI ratio? <20%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 643 $82,095,000 $127,675 $2,200 3.07%
    Not applicable 52 $10,860,000 $208,846 $0 4.24%
    Not provided 35 $5,055,000 $144,429 $2,589 3.00%
    Black 2 $520,000 $260,000 $1,587 2.69%

    Approval Rates

    Total approvals of all applications
    91.30%

    Desco has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.51%

    Desco has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 732 $98,530,000 $134,604

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    732 $98,530,000 $134,604

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $2,150,000 $59,722 $2,018 3.21%
    40-60% 74 $8,220,000 $111,081 $2,243 2.80%
    60-80% 254 $35,780,000 $140,866 $2,391 3.26%
    80-100% 177 $23,955,000 $135,339 $2,581 3.34%
    Under 20% 9 $225,000 $25,000 $481 6.92%