Blmc Inc Mortgage Rates, Fees & Info
GREENVILLE, SCLEI: 549300M72BFCB8VRS626
Tax ID: 58-2440506
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Mortgage Data
Review & Overview
Blmc Inc is a smaller mortgage company specializing in Home Purchase loans. Blmc Inc 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 by origination volume include: Greenville, Spartanburg, Charleston, Seneca, and Columbia among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Blmc Inc 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. Blmc Inc 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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Originations
131Origination Dollar Volume (All Markets)
$30,585,000Awards
BLMC INC - 2019
BLMC INC is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 110 | $25,410,000 | $231,000 | $4,307 | 4.19% |
| SPARTANBURG, SC (FHA|USDA|VA) | 15 | $3,015,000 | $201,000 | $4,912 | 4.02% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $6,907 | 4.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,798 | 3.88% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,286 | 3.69% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,541 | 4.13% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against BLMC INC 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
For 2019, Blmc Inc's most frequently originated type of loan was Conventional, with 90 originations. Their 2nd most popular type was FHA, with 25 originations.
Loan Reason
For 2019, Blmc Inc's most frequently cited loan purpose was Home Purchase, with 112 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
For 2019, Blmc Inc's most frequently cited loan duration was 30 Year, with 125 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
Blmc Inc's average total fees were $4,452, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 63 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 68 | $15,000,000 | $220,588 |
| 3-4% | 60 | $15,190,000 | $253,167 |
| 5-6% | 3 | $395,000 | $131,667 |
During 2019, Blmc Inc's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 4-5%, with 68 originations.
Loan Sizing
2019 saw Blmc Inc place emphasis on $200k-400k loans with 68 originations, totaling $17,460,000 in origination value.
Applicant Income
Blmc Inc lent most frequently to those with incomes in the $50k-75k range, with 43 originations. The second most popular income band? $50k or less, with 27 originations.
Applicant Debt to Income Ratio
Blmc Inc lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? 30-36%, with 25 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.05%
Blmc Inc has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination89.31%
Blmc Inc has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 131 | $30,585,000 | $233,473 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 131 | $30,585,000 | $233,473 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Belem Servicing LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |