Bnb Financial Mortgage Rates, Fees & Info
GLENDALE, CALEI: 549300850R07HZO8MY41
Tax ID: 45-5139677
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Mortgage Data
Review & Overview
Bnb Financial is a smaller mortgage company specializing in Refi 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 by origination volume include: Los Angeles, Riverside, San Francisco, Oxnard, and Santa Cruz among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Bnb Financial has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Bnb Financial 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.47% | 4/21/24 |
| 30 Year Conventional Refi | 6.48% | 4/21/24 |
| 30 Year Cash-out Refi | 6.71% | 4/21/24 |
| 30 Year FHA Purchase | 7.47% | 4/21/24 |
| 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. | ||
Bnb Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
373Origination Dollar Volume (All Markets)
$155,415,000Awards
BNB FINANCIAL - 2020
BNB FINANCIAL is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 306 | $129,550,000 | $423,366 | $4,187 | 3.02% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 35 | $10,545,000 | $301,286 | $3,550 | 3.08% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 14 | $7,070,000 | $505,000 | $3,772 | 3.01% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 8 | $3,970,000 | $496,250 | $2,263 | 2.72% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 2 | $1,120,000 | $560,000 | $3,042 | 2.88% |
| Outside of Metro Areas | 2 | $1,100,000 | $550,000 | $4,389 | 2.88% |
| VALLEJO, CA (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $5,479 | 2.88% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $2,992 | 2.83% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against BNB FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 367 | $152,395,000 | $415,245 | $3,920 | 3.01% |
| FHA | 6 | $3,020,000 | $503,333 | $12,895 | 3.19% |
For 2020, Bnb Financial's most frequently originated type of loan was Conventional, with 367 originations. Their 2nd most popular type was FHA, with 6 originations.
Loan Reason
For 2020, Bnb Financial's most frequently cited loan purpose was Refi, with 258 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.
Loan Duration/Length
For 2020, Bnb Financial's most frequently cited loan duration was 30 Year, with 300 originations. The 2nd most popular length was 15 Year, with 49 originations.
Origination Fees/Closing Costs
Bnb Financial's average total fees were $4,286, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 170 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 188 | $78,700,000 | $418,617 |
| 3-4% | 132 | $56,440,000 | $427,576 |
| <2.5% | 47 | $17,165,000 | $365,213 |
| 4-5% | 6 | $3,110,000 | $518,333 |
During 2020, Bnb Financial's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 188 originations.
Loan Sizing
2020 saw Bnb Financial place emphasis on $200k-400k loans with 167 originations, totaling $52,035,000 in origination value.
Applicant Income
Bnb Financial lent most frequently to those with incomes in the $100k-150k range, with 136 originations. The second most popular income band? $150k-250k, with 100 originations.
Applicant Debt to Income Ratio
Bnb Financial lent most frequently to those with DTI ratios of 20-30%, with 96 originations. The next most common DTI ratio? 30-36%, with 76 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination98.93%
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 |
|---|---|---|---|
| 1785.0 | 1 | $765,000 | $765,000 |
| NA | 372 | $154,650,000 | $415,726 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 373 | $155,415,000 | $416,662 |