Bankers Mortgage Lending Rates, Fees & Info

Sunrise, FL

LEI: 549300EKC7T8LXNFWP64

Tax ID: 26-1117897

4.9 stars - out of 5 stars, based on 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bankers Mortgage Lending is a smaller bank specializing in Home Purchase and Refi loans. Bankers Mortgage Lending has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Miami, Orlando, Port St. Lucie, Jacksonville, and Deltona among others. Bankers Mortgage Lending has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Bankers Mortgage Lending is typically an average fee lendor.


Originations

373

Origination Dollar Volume (All Markets)

$115,225,000

Awards

BANKERS MORTGAGE LENDING  30 Year Conventional Loans bronze BANKERS MORTGAGE LENDING  30 Year Conventional Loans bronze BANKERS MORTGAGE LENDING  FHA Loans bronze BANKERS MORTGAGE LENDING  FHA Loans bronze
Show all (4) awards

Relative Rate

Bankers Mortgage Lending 's average 30 year fixed rate mortgage of loans were 3.07%.

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

This yields a difference of -0.08%.

Relative Fees

Bankers Mortgage Lending 's average total fees for a 30 year fixed rate mortgage are $5,118.

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
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 241 $78,735,000 $326,701 $5,117 2.98%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 41 $11,315,000 $275,976 $4,494 3.02%
PORT ST. LUCIE, FL (FHA|USDA|VA) 30 $8,790,000 $293,000 $5,201 3.09%
JACKSONVILLE, FL (FHA|USDA|VA) 13 $3,665,000 $281,923 $5,405 3.01%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 17 $3,645,000 $214,412 $5,355 3.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 13 $3,195,000 $245,769 $4,273 2.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,290,000 $645,000 $7,120 3.19%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,155,000 $385,000 $4,543 3.63%
GAINESVILLE, FL (FHA|USDA|VA) 3 $885,000 $295,000 $5,007 3.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $780,000 $390,000 $4,957 3.19%
Key West, FL (FHA|USDA|VA) 2 $640,000 $320,000 $5,266 3.56%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $350,000 $175,000 $5,075 3.69%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $320,000 $160,000 $4,256 3.13%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,283 3.13%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,824 3.13%

Bankers Mortgage Lending 's top markets include Miami, Orlando, Port St. Lucie, Jacksonville, and Deltona among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 339 $103,965,000 $306,681 $4,595 3.04%
FHA 23 $6,645,000 $288,913 $9,920 2.82%
VA 11 $4,615,000 $419,545 $9,031 2.69%

For the 2021 period, Bankers Mortgage Lending 's most frequently originated loan type of loans were Conventional, with 339 originations. Their 2nd most popular type is FHA, with 23 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 191 $57,105,000 $298,979 $5,635 3.11%
Refi 121 $37,525,000 $310,124 $4,220 2.84%
Cash Out Refi 61 $20,595,000 $337,623 $4,799 3.06%

For the 2021, Bankers Mortgage Lending 's most frequently cited loan purpose of loans were Home Purchase, with 191 originations. The 2nd most popular reason of loans were Refi, with 121 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 329 $101,435,000 $308,313 $5,118 3.07%
15 Year 31 $9,575,000 $308,871 $4,113 2.50%
20 Year 7 $2,545,000 $363,571 $3,937 2.63%
Other 5 $1,565,000 $313,000 $7,615 3.08%
10 Year 1 $105,000 $105,000 $3,401 2.25%

For the 2021, Bankers Mortgage Lending 's most frequently cited loan length of loans were 30 Year, with 329 originations. The 2nd most popular length of loans were 15 Year, with 31 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 306 $93,170,000 $304,477
$2k-3k 47 $13,575,000 $288,830
$3k-4k 14 $5,630,000 $402,143
$5k+ 4 $2,070,000 $517,500
$<1k 2 $780,000 $390,000

$5,118 of loans were Bankers Mortgage Lending 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 306 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 177 $54,385,000 $307,260
3-4% 146 $45,260,000 $310,000
<2.5% 40 $12,930,000 $323,250
4-5% 10 $2,650,000 $265,000

During 2021, Bankers Mortgage Lending 's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 2.5-3%, with 177 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 219 $64,705,000 $295,457 $5,118 3.01%
$400k-600k 70 $33,780,000 $482,571 $5,461 2.97%
$100k-200k 67 $10,385,000 $155,000 $3,874 3.02%
$100,000 or less 11 $925,000 $84,091 $3,435 3.16%
$600k-1MM 4 $2,950,000 $737,500 $15,318 3.31%
$1MM+ 2 $2,480,000 $1,240,000 $9,385 3.13%

2021 saw Bankers Mortgage Lending place emphasis on $200k-400k loans with 219 originations, totaling $64,705,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 94 $31,670,000 $336,915 $5,047 2.99%
$50k-75k 71 $16,475,000 $232,042 $4,808 2.96%
$75k-100k 68 $18,690,000 $274,853 $5,134 3.07%
$150k-250k 63 $23,375,000 $371,032 $5,553 3.11%
$250k+ 41 $18,915,000 $461,341 $5,279 2.98%
$50k or less 36 $6,100,000 $169,444 $4,120 2.93%

Bankers Mortgage Lending lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $50k-75k, with 71 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 68 $19,680,000 $289,412 $4,641 2.96%
30-36% 51 $17,465,000 $342,451 $5,068 3.09%
43% 23 $7,525,000 $327,174 $5,056 3.05%
44% 21 $5,895,000 $280,714 $4,690 3.00%
<20% 20 $6,990,000 $349,500 $4,486 2.81%
48% 18 $4,520,000 $251,111 $4,025 3.08%
41% 18 $5,170,000 $287,222 $4,870 3.05%
49% 17 $4,305,000 $253,235 $4,618 3.03%
37% 17 $6,065,000 $356,765 $5,410 3.15%
46% 17 $4,405,000 $259,118 $5,069 3.00%
47% 16 $4,900,000 $306,250 $6,246 2.91%
42% 15 $4,025,000 $268,333 $4,772 2.96%
40% 15 $4,975,000 $331,667 $6,542 3.22%
36% 14 $5,740,000 $410,000 $5,122 2.96%
45% 12 $3,220,000 $268,333 $4,247 3.22%
38% 11 $3,365,000 $305,909 $5,116 3.01%
39% 9 $3,265,000 $362,778 $7,685 2.96%
50-60% 8 $2,650,000 $331,250 $6,761 2.77%
>60% 1 $435,000 $435,000 $5,022 3.38%

Bankers Mortgage Lending lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 51 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 337 $105,075,000 $311,795 $4,946 3.01%
Black 29 $8,575,000 $295,690 $6,134 3.02%
Asian 6 $1,490,000 $248,333 $5,416 3.17%
Not provided 1 $85,000 $85,000 $3,104 2.75%

Approval Rates

Total approvals of all applications
97.21%

Bankers Mortgage Lending 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
92.39%

Bankers Mortgage Lending has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 373 $115,225,000 $308,914

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
373 $115,225,000 $308,914

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 14 $3,460,000 $247,143 $4,183 2.77%
40-60% 76 $23,470,000 $308,816 $4,228 2.79%
60-80% 172 $51,900,000 $301,744 $4,661 3.09%
80-100% 110 $36,110,000 $328,273 $6,252 3.08%
Over 100% 1 $285,000 $285,000 $12,186 2.75%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
BANCORPSOUTH BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 8.3%
BANCORPSOUTH BANK Conventional home mortgage Incorrect information on your report 1 8.3%
BANCORPSOUTH BANK Conventional home mortgage Trouble during payment process 7 58.3%
BANCORPSOUTH BANK FHA mortgage Trouble during payment process 1 8.3%
BANCORPSOUTH BANK Other type of mortgage Closing on a mortgage 1 8.3%
BANCORPSOUTH BANK VA mortgage Struggling to pay mortgage 1 8.3%