Burbank City Mortgage Services Rates, Fees & Info

Burbank, CA

LEI: 5493008JJKEH2LP8FM02

Tax ID: 45-2107596

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

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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

    Burbank City Mortgage Services is a smaller bank specializing in Cash Out Refi, Refi, and Home Purchase loans. Burbank City Mortgage Services has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Oxnard, San Diego, Riverside, and San Luis Obispo among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Burbank City Mortgage Services 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. Burbank City Mortgage Services is typically an average 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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    Originations

    39

    Origination Dollar Volume (All Markets)

    $14,225,000

    Awards

    Burbank City Mortgage Services 30 Year Conventional Loans bronze
    Show all (1) 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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 30 $10,840,000 $361,333 $5,182 3.90%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $1,650,000 $412,500 $3,588 3.88%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $695,000 $695,000 $10,202 4.25%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $650,000 $325,000 $5,532 3.81%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $275,000 $275,000 $2,758 3.50%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $115,000 $115,000 $3,447 4.25%
    Burbank City Mortgage Services's top markets include Los Angeles, Oxnard, San Diego, Riverside, and San Luis Obispo among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Burbank City Mortgage Services based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Christian Community Credit Union
    Similarity Rank: 220
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 374
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    LBS FINANCIAL
    Similarity Rank: 546
    LA Financial Federal Credit Union
    Similarity Rank: 951
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 1050
    MONARCH FUNDING CORP.
    Similarity Rank: 1295
    Water and Power Community Credit Union
    Similarity Rank: 1296
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 1302

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 39 $14,225,000 $364,744 $5,058 3.90%

    For 2019, Burbank City Mortgage Services's most frequently originated type of loan was Conventional, with 39 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 18 $5,410,000 $300,556 $3,983 3.78%
    Refi 12 $4,220,000 $351,667 $4,045 3.88%
    Home Purchase 7 $3,815,000 $545,000 $9,279 4.23%
    Home Improvement 2 $780,000 $390,000 $6,045 3.94%

    For 2019, Burbank City Mortgage Services's most frequently cited loan purpose was Cash Out Refi, with 18 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 30 $11,220,000 $374,000 $5,310 3.97%
    20 Year 4 $860,000 $215,000 $3,057 3.69%
    Other 3 $1,405,000 $468,333 $5,504 3.96%
    15 Year 2 $740,000 $370,000 $4,613 3.19%

    For 2019, Burbank City Mortgage Services's most frequently cited loan duration was 30 Year, with 30 originations. The 2nd most popular length was 20 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 13 $3,425,000 $263,462
    $3k-4k 8 $3,700,000 $462,500
    $<1k 5 $1,185,000 $237,000
    $2k-3k 5 $1,995,000 $399,000
    $5k+ 4 $1,960,000 $490,000
    $4k-5k 2 $840,000 $420,000

    Burbank City Mortgage Services's average total fees were $5,310, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 26 $9,060,000 $348,462
    4-5% 13 $5,165,000 $397,308

    During 2019, Burbank City Mortgage Services's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 3-4%, with 26 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 21 $6,465,000 $307,857 $4,489 3.80%
    $400k-600k 11 $5,185,000 $471,364 $5,267 3.91%
    $100k-200k 3 $475,000 $158,333 $3,037 3.96%
    $600k-1MM 3 $2,045,000 $681,667 $10,867 4.21%
    $100,000 or less 1 $55,000 $55,000 $3,352 4.75%

    2019 saw Burbank City Mortgage Services place emphasis on $200k-400k loans with 21 originations, totaling $6,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 12 $4,480,000 $373,333 $5,426 3.86%
    $150k-250k 10 $4,880,000 $488,000 $6,477 4.01%
    $75k-100k 10 $2,740,000 $274,000 $3,872 3.86%
    $50k-75k 3 $735,000 $245,000 $3,361 4.13%
    $250k+ 2 $880,000 $440,000 $5,838 3.38%
    $50k or less 2 $510,000 $255,000 $3,450 3.88%

    Burbank City Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 10 $3,020,000 $302,000 $3,909 3.81%
    30-36% 10 $3,930,000 $393,000 $5,238 3.85%
    49% 2 $710,000 $355,000 $4,339 3.50%
    38% 2 $630,000 $315,000 $2,723 3.69%
    41% 2 $640,000 $320,000 $7,539 4.06%
    43% 2 $970,000 $485,000 $6,380 4.06%
    44% 2 $1,080,000 $540,000 $11,050 4.19%
    46% 2 $840,000 $420,000 $5,484 3.81%
    42% 1 $415,000 $415,000 $4,377 3.75%
    36% 1 $365,000 $365,000 $5,834 3.63%
    37% 1 $465,000 $465,000 $3,793 3.75%
    47% 1 $495,000 $495,000 $6,271 4.75%
    39% 1 $245,000 $245,000 $3,342 4.13%
    40% 1 $365,000 $365,000 $3,798 4.00%
    45% 1 $55,000 $55,000 $3,352 4.75%

    Burbank City Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 29 $10,755,000 $370,862 $5,102 3.89%
    Not provided 7 $2,515,000 $359,286 $5,667 3.95%
    Native Hawaiian or Islander 1 $465,000 $465,000 $3,793 3.75%
    Asian 1 $245,000 $245,000 $3,342 4.13%
    Filipino 1 $245,000 $245,000 $2,505 3.75%

    Approval Rates

    Total approvals of all applications
    90.54%

    Burbank City Mortgage Services has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.54%

    Burbank City Mortgage Services 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 39 $14,225,000 $364,744

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $115,000 $115,000
    Single Family (1-4 Units):Site-Built 38 $14,110,000 $371,316

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $2,045,000 $292,143 $3,200 3.86%
    40-60% 12 $3,750,000 $312,500 $3,578 3.72%
    60-80% 14 $5,490,000 $392,143 $6,339 3.92%
    80-100% 5 $2,885,000 $577,000 $7,967 4.15%
    Under 20% 1 $55,000 $55,000 $3,352 4.75%