Bkco Mortgage Rates, Fees & Info

DOVER, DE

LEI: 549300ILIUB22RTQKQ27

Tax ID: 36-4917779

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bkco Mortgage is a smaller mortgage company specializing in Home Purchase loans. Bkco Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Seattle, Austin, Portland, Bellingham, and Albuquerque among others. Bkco Mortgage has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Bkco Mortgage is typically an average fee lendor.


Originations

495

Origination Dollar Volume (All Markets)

$175,625,000
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Relative Rate

Bkco Mortgage 's average 30 year fixed rate mortgage of loans were 3.12%.

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

This yields a difference of -0.03%.

Relative Fees

Bkco Mortgage 's average total fees for a 30 year fixed rate mortgage are $3,930.

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
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 74 $34,610,000 $467,703 $3,756 3.14%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 71 $26,385,000 $371,620 $4,471 3.10%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 57 $20,705,000 $363,246 $3,735 3.07%
BELLINGHAM, WA (FHA|USDA|VA) 46 $16,700,000 $363,043 $2,804 3.10%
ALBUQUERQUE, NM (FHA|USDA|VA) 39 $10,355,000 $265,513 $3,140 3.17%
ANCHORAGE, AK (FHA|USDA|VA) 21 $7,165,000 $341,190 $4,052 2.91%
BOISE CITY, ID (FHA|USDA|VA) 21 $7,085,000 $337,381 $3,122 2.98%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 21 $5,625,000 $267,857 $3,966 2.94%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 12 $5,130,000 $427,500 $4,776 2.85%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 13 $4,605,000 $354,231 $3,081 3.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 16 $3,610,000 $225,625 $3,699 3.11%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 10 $3,550,000 $355,000 $6,962 3.16%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 10 $3,060,000 $306,000 $3,066 3.19%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 12 $2,680,000 $223,333 $4,041 3.08%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $2,040,000 $510,000 $4,298 3.19%
LONGVIEW, WA (FHA|USDA|VA) 4 $1,710,000 $427,500 $5,737 3.12%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $1,400,000 $350,000 $2,837 3.16%
Outside of Metro Areas 4 $1,390,000 $347,500 $4,149 3.22%
Shelton, WA (FHA|USDA|VA) 5 $1,365,000 $273,000 $6,866 3.10%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $1,320,000 $330,000 $2,880 3.03%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $1,270,000 $635,000 $3,653 3.13%
MISSOULA, MT (FHA|USDA|VA) 3 $1,175,000 $391,667 $4,071 3.63%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 4 $1,160,000 $290,000 $3,939 2.97%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 2 $1,050,000 $525,000 $2,664 3.31%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $960,000 $480,000 $2,818 2.93%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $905,000 $301,667 $4,270 2.96%
KNOXVILLE, TN (FHA|USDA|VA) 3 $855,000 $285,000 $3,409 3.33%
Roseburg, OR (FHA|USDA|VA) 3 $625,000 $208,333 $4,597 3.50%
Ellensburg, WA (FHA|USDA|VA) 1 $545,000 $545,000 $4,554 3.25%
Oak Harbor, WA (FHA|USDA|VA) 1 $545,000 $545,000 $2,753 2.75%
TEXARKANA, TX-AR (FHA|USDA|VA) 1 $545,000 $545,000 $4,467 2.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $385,000 $385,000 $3,728 3.10%
Aberdeen, WA (FHA|USDA|VA) 2 $380,000 $190,000 $10,259 1.94%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $380,000 $190,000 $0 3.50%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $355,000 $355,000 $2,290 2.99%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $345,000 $345,000 $11,880 2.25%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $335,000 $335,000 $3,857 3.13%
Port Angeles, WA (FHA|USDA|VA) 1 $335,000 $335,000 $2,586 3.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $325,000 $325,000 $3,778 3.38%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $315,000 $315,000 $2,003 2.25%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $285,000 $285,000 $2,079 3.13%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $275,000 $275,000 $3,374 2.99%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,488 3.13%
MIDLAND, TX (FHA|USDA|VA) 1 $255,000 $255,000 $3,410 2.75%
Granbury, TX (FHA|USDA|VA) 1 $245,000 $245,000 $3,327 3.25%
SANTA FE, NM (FHA|USDA|VA) 1 $245,000 $245,000 $2,393 3.13%
MODESTO, CA (FHA|USDA|VA) 1 $225,000 $225,000 $2,092 2.99%
Alamogordo, NM (FHA|USDA|VA) 2 $220,000 $110,000 $0 2.99%
LAS CRUCES, NM (FHA|USDA|VA) 1 $185,000 $185,000 $2,690 3.38%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $0 4.63%

Bkco Mortgage 's top markets include Seattle, Austin, Portland, Bellingham, and Albuquerque among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 422 $148,410,000 $351,682 $2,969 3.10%
FHA 39 $13,035,000 $334,231 $8,984 3.15%
VA 33 $13,975,000 $423,485 $7,601 2.90%
USDA 1 $205,000 $205,000 $4,875 3.25%

For the 2021 period, Bkco Mortgage 's most frequently originated loan type of loans were Conventional, with 422 originations. Their 2nd most popular type is FHA, with 39 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 382 $137,660,000 $360,366 $4,231 3.09%
Refi 67 $22,005,000 $328,433 $2,262 2.96%
Cash Out Refi 46 $15,960,000 $346,957 $2,855 3.27%

For the 2021, Bkco Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 382 originations. The 2nd most popular reason of loans were Refi, with 67 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 466 $167,930,000 $360,365 $3,930 3.12%
15 Year 18 $4,930,000 $273,889 $2,124 2.55%
20 Year 9 $2,085,000 $231,667 $2,725 2.97%
10 Year 2 $680,000 $340,000 $1,309 2.19%

For the 2021, Bkco Mortgage 's most frequently cited loan length of loans were 30 Year, with 466 originations. The 2nd most popular length of loans were 15 Year, with 18 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 417 $148,665,000 $356,511
$1k-2k 18 $5,680,000 $315,556
$3k-4k 11 $4,325,000 $393,182
$2k-3k 8 $3,700,000 $462,500
$5k+ 3 $1,305,000 $435,000

$3,930 of loans were Bkco Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 417 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 253 $89,695,000 $354,526
2.5-3% 197 $73,195,000 $371,548
<2.5% 29 $8,125,000 $280,172
4-5% 16 $4,610,000 $288,125

During 2021, Bkco Mortgage 's average interest rate of loans were 3.12%, while their most frequently originated rate bucket of loans were 3-4%, with 253 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 258 $78,370,000 $303,760 $3,658 3.12%
$400k-600k 148 $70,760,000 $478,108 $4,578 3.09%
$100k-200k 56 $9,360,000 $167,143 $2,657 3.19%
$600k-1MM 22 $15,600,000 $709,091 $3,828 3.10%
$100,000 or less 10 $520,000 $52,000 $2,486 1.69%
$1MM+ 1 $1,015,000 $1,015,000 $0 2.88%

2021 saw Bkco Mortgage place emphasis on $200k-400k loans with 258 originations, totaling $78,370,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 152 $55,800,000 $367,105 $3,716 3.03%
$150k-250k 90 $39,970,000 $444,111 $3,334 3.09%
$75k-100k 90 $29,660,000 $329,556 $4,089 2.99%
$50k-75k 87 $24,265,000 $278,908 $4,324 3.15%
$250k+ 40 $18,390,000 $459,750 $4,053 3.32%
$50k or less 35 $7,375,000 $210,714 $3,501 3.16%

Bkco Mortgage lent most frequently to those with incomes in the $100k-150k range, with 152 originations. The second most popular income band? $150k-250k, with 90 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 127 $43,605,000 $343,346 $2,831 3.04%
30-36% 93 $34,335,000 $369,194 $4,087 3.16%
<20% 50 $17,820,000 $356,400 $2,538 2.97%
42% 26 $8,360,000 $321,538 $3,677 3.06%
39% 20 $7,920,000 $396,000 $4,557 3.18%
40% 19 $6,635,000 $349,211 $3,728 3.14%
37% 18 $5,870,000 $326,111 $2,654 3.01%
43% 17 $6,175,000 $363,235 $3,346 3.18%
44% 16 $5,400,000 $337,500 $6,662 3.21%
50-60% 15 $6,375,000 $425,000 $8,091 2.98%
49% 15 $5,635,000 $375,667 $5,813 3.05%
36% 14 $4,200,000 $300,000 $2,897 3.02%
41% 13 $4,695,000 $361,154 $3,695 3.23%
38% 12 $4,630,000 $385,833 $3,220 3.14%
45% 11 $3,655,000 $332,273 $6,330 3.19%
46% 9 $3,005,000 $333,889 $4,085 3.28%
48% 9 $3,255,000 $361,667 $3,694 3.19%
47% 7 $2,975,000 $425,000 $4,466 3.00%
>60% 1 $425,000 $425,000 $18,025 2.88%

Bkco Mortgage lent most frequently to those with DTI ratios of 20-30%, with 127 originations. The next most common DTI ratio? 30-36%, with 93 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 375 $132,945,000 $354,520 $3,598 3.11%
Not provided 69 $25,645,000 $371,667 $4,487 3.04%
Asian 20 $7,620,000 $381,000 $4,704 3.14%
Black 13 $3,695,000 $284,231 $5,625 2.79%
American Indian 6 $1,720,000 $286,667 $2,963 3.02%
Asian Indian 6 $1,400,000 $233,333 $2,756 3.13%
Native Hawaiian 1 $515,000 $515,000 $11,711 3.25%
Filipino 1 $485,000 $485,000 $4,634 3.25%
Chinese 1 $485,000 $485,000 $3,326 3.13%
Vietnamese 1 $475,000 $475,000 $7,000 2.88%
Guamanian 1 $325,000 $325,000 $5,330 2.99%
Other Pacific Islander 1 $315,000 $315,000 $6,008 3.38%

Approval Rates

Total approvals of all applications
84.88%

Bkco Mortgage has a below average approval rate.

Pick Rate

Approvals leading to origination
74.31%

Bkco Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 495 $175,625,000 $354,798

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
495 $175,625,000 $354,798

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 16 $3,550,000 $221,875 $1,964 3.14%
40-60% 50 $15,000,000 $300,000 $2,291 2.96%
60-80% 157 $57,165,000 $364,108 $2,776 3.18%
80-100% 257 $95,975,000 $373,444 $4,358 3.13%
Over 100% 10 $3,860,000 $386,000 $14,074 2.79%
Under 20% 5 $75,000 $15,000 $0 0.00%