Alkan Mortgage Corporation Rates, Fees & Info
LAKE MARY, FLLEI: 5493005PT09Z02WXW551
Tax ID: 59-3591757
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Mortgage Data
Review & Overview
Alkan Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Alkan Mortgage Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Palm Bay, Orlando, Deltona, Lakeland, and Port St. Lucie among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Alkan Mortgage Corporation 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 | 7.04% | 3/25/24 |
| 30 Year Cash-out Refi | 7.20% | 3/25/24 |
| 30 Year FHA Purchase | 7.63% | 3/25/24 |
| 30 Year VA Purchase | 6.38% | 3/25/24 |
| 30 Year VA Refi | 6.27% | 3/25/24 |
| 15 Year Conventional Purchase | 16.95% | 3/25/24 |
| 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. | ||
Alkan Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
23Origination Dollar Volume (All Markets)
$3,545,000Top 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 |
|---|---|---|---|---|---|
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 7 | $915,000 | $130,714 | $8,704 | 12.99% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $10,703 | 12.99% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $10,413 | 12.99% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $10,608 | 12.99% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $17,830 | 12.99% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $17,575 | 12.99% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,575 | 12.99% |
| Outside of Metro Areas | 1 | $105,000 | $105,000 | $7,463 | 12.99% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $30,000 | $15,000 | $3,164 | 12.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $3,545,000 | $154,130 | $9,681 | 12.99% |
For 2022, Alkan Mortgage Corporation's most frequently originated type of loan was Conventional, with 23 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 14 | $2,290,000 | $163,571 | $10,238 | 12.99% |
| Cash Out Refi | 9 | $1,255,000 | $139,444 | $8,815 | 12.99% |
For 2022, Alkan Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 23 | $3,545,000 | $154,130 | $9,681 | 12.99% |
For 2022, Alkan Mortgage Corporation's most frequently cited loan duration was 15 Year, with 23 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 23 | $3,545,000 | $154,130 |
During 2022, Alkan Mortgage Corporation's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 23 originations.
Loan Sizing
2022 saw Alkan Mortgage Corporation place emphasis on $100k-200k loans with 11 originations, totaling $1,545,000 in origination value.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.02%
Alkan Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination-826.09%
Alkan Mortgage Corporation 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 | 23 | $3,545,000 | $154,130 |