Bnb Financial Mortgage Rates, Fees & Info

GLENDALE, CA

LEI: 549300850R07HZO8MY41

Tax ID: 45-5139677

4.5 stars - out of 5 stars, based on 14 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bnb Financial is a smaller mortgage company specializing in Refi and Home Purchase loans. Bnb Financial has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Los Angeles, Riverside, San Francisco, Oxnard, and San Diego among others. Bnb Financial has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Bnb Financial is typically an average fee lendor.


Originations

204

Origination Dollar Volume (All Markets)

$93,880,000

Relative Rate

Bnb Financial 's average 30 year fixed rate mortgage of loans were 3.1%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.05%.

Relative Fees

Bnb Financial 's average total fees for a 30 year fixed rate mortgage are $5,363.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 169 $79,975,000 $473,225 $4,968 2.96%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 16 $5,610,000 $350,625 $5,044 2.89%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $2,470,000 $411,667 $3,661 2.94%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $1,710,000 $427,500 $4,402 2.78%
Outside of Metro Areas 2 $1,030,000 $515,000 $2,617 3.19%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $980,000 $490,000 $9,495 3.25%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $655,000 $655,000 $3,959 2.88%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $495,000 $495,000 $3,382 3.25%
VALLEJO, CA (FHA|USDA|VA) 1 $395,000 $395,000 $8,955 3.63%
MADERA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $3,407 3.00%
EL CENTRO, CA (FHA|USDA|VA) 1 $245,000 $245,000 $5,788 2.75%

Bnb Financial 's top markets include Los Angeles, Riverside, San Francisco, Oxnard, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 203 $93,405,000 $460,123 $4,903 2.96%
FHA 1 $475,000 $475,000 $14,225 3.00%

For the 2021 period, Bnb Financial 's most frequently originated loan type of loans were Conventional, with 203 originations. Their 2nd most popular type is FHA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 98 $40,790,000 $416,224 $3,779 2.82%
Home Purchase 64 $34,650,000 $541,406 $6,627 3.11%
Cash Out Refi 42 $18,440,000 $439,048 $5,098 3.07%

For the 2021, Bnb Financial 's most frequently cited loan purpose of loans were Refi, with 98 originations. The 2nd most popular reason of loans were Home Purchase, with 64 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 167 $80,345,000 $481,108 $5,363 3.10%
15 Year 29 $10,225,000 $352,586 $3,093 2.25%
20 Year 8 $3,310,000 $413,750 $3,136 2.63%

For the 2021, Bnb Financial 's most frequently cited loan length of loans were 30 Year, with 167 originations. The 2nd most popular length of loans were 15 Year, with 29 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 122 $56,800,000 $465,574
$<1k 46 $18,750,000 $407,609
$5k+ 16 $9,180,000 $573,750
$3k-4k 12 $5,150,000 $429,167
$2k-3k 3 $1,115,000 $371,667

$5,363 of loans were Bnb Financial 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 122 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 88 $40,400,000 $459,091
3-4% 82 $40,620,000 $495,366
<2.5% 33 $12,455,000 $377,424
4-5% 1 $405,000 $405,000

During 2021, Bnb Financial 's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 2.5-3%, with 88 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 94 $45,950,000 $488,830 $5,170 2.98%
$200k-400k 66 $20,520,000 $310,909 $3,792 2.82%
$600k-1MM 36 $26,020,000 $722,778 $6,849 3.16%
$100k-200k 8 $1,390,000 $173,750 $3,392 2.98%

2021 saw Bnb Financial place emphasis on $400k-600k loans with 94 originations, totaling $45,950,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 76 $34,100,000 $448,684 $5,323 2.97%
$150k-250k 61 $30,515,000 $500,246 $4,735 2.86%
$75k-100k 29 $11,785,000 $406,379 $4,964 3.06%
$50k-75k 23 $9,535,000 $414,565 $3,686 3.08%
$250k+ 14 $7,750,000 $553,571 $5,908 2.97%
$50k or less 1 $195,000 $195,000 $3,224 2.88%

Bnb Financial lent most frequently to those with incomes in the $100k-150k range, with 76 originations. The second most popular income band? $150k-250k, with 61 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 52 $24,390,000 $469,038 $4,526 2.91%
30-36% 43 $19,935,000 $463,605 $5,471 2.86%
42% 17 $8,505,000 $500,294 $5,010 3.04%
<20% 16 $5,550,000 $346,875 $4,170 2.88%
43% 15 $7,355,000 $490,333 $5,660 3.18%
36% 12 $5,760,000 $480,000 $5,885 3.14%
40% 7 $3,075,000 $439,286 $6,009 3.25%
41% 6 $2,930,000 $488,333 $4,180 2.67%
37% 6 $2,310,000 $385,000 $4,355 2.71%
39% 6 $3,030,000 $505,000 $5,687 2.90%
44% 5 $1,875,000 $375,000 $4,204 3.05%
47% 5 $2,685,000 $537,000 $4,011 3.20%
48% 5 $2,135,000 $427,000 $3,764 3.18%
38% 4 $1,900,000 $475,000 $3,844 3.03%
46% 3 $1,495,000 $498,333 $5,367 2.71%
45% 2 $950,000 $475,000 $6,282 3.38%

Bnb Financial lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? 30-36%, with 43 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 134 $61,820,000 $461,343 $4,937 2.95%
White 64 $29,810,000 $465,781 $5,056 2.97%
Black 6 $2,250,000 $375,000 $4,086 3.02%

Approval Rates

Total approvals of all applications
100.00%

Bnb Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
97.27%

Bnb Financial has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
NA 204 $93,880,000 $460,196

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
204 $93,880,000 $460,196

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 24 $6,390,000 $266,250 $3,123 2.55%
40-60% 56 $23,450,000 $418,750 $4,092 2.89%
60-80% 99 $50,875,000 $513,889 $5,443 3.07%
80-100% 24 $12,970,000 $540,417 $6,834 3.05%
Under 20% 1 $195,000 $195,000 $3,503 3.25%