Blmc Inc Mortgage Rates, Fees & Info

GREENVILLE, SC

LEI: 549300M72BFCB8VRS626

Tax ID: 58-2440506

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

    Blmc Inc is a smaller mortgage company specializing in Home Purchase and Refi 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 an above 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

    186

    Origination Dollar Volume (All Markets)

    $45,060,000

    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) 159 $37,935,000 $238,585 $3,487 3.22%
    SPARTANBURG, SC (FHA|USDA|VA) 14 $3,000,000 $214,286 $4,653 3.22%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 6 $1,950,000 $325,000 $4,126 3.58%
    Seneca, SC (FHA|USDA|VA) 3 $1,055,000 $351,667 $3,550 3.08%
    COLUMBIA, SC (FHA|USDA|VA) 2 $580,000 $290,000 $2,588 3.19%
    Gaffney, SC (FHA|USDA|VA) 2 $540,000 $270,000 $4,803 3.01%
    Blmc Inc's top markets include Greenville, Spartanburg, Charleston, Seneca, and Columbia among others.

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

    • 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.

    Greenville Heritage Federal Credit Union
    Similarity Rank: 438
    Coastal Carolina National Bank
    Similarity Rank: 520
    BLMC, INC
    Similarity Rank: 720
    Amerisouth Mortgage Company
    Similarity Rank: 782
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 931
    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 1554
    Community First Bank, Inc.
    Similarity Rank: 1584
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 1662
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 2016
    The Park National Bank
    Similarity Rank: 3144

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 160 $39,130,000 $244,563 $3,324 3.25%
    FHA 12 $2,390,000 $199,167 $6,220 3.17%
    VA 9 $2,545,000 $282,778 $4,059 3.04%
    USDA 5 $995,000 $199,000 $5,353 3.15%

    For 2020, Blmc Inc's most frequently originated type of loan was Conventional, with 160 originations. Their 2nd most popular type was FHA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $23,745,000 $239,848 $4,594 3.23%
    Refi 73 $17,415,000 $238,562 $2,405 3.21%
    Cash Out Refi 14 $3,900,000 $278,571 $2,813 3.33%

    For 2020, Blmc Inc's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Refi, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 170 $41,730,000 $245,471 $3,724 3.23%
    15 Year 8 $1,590,000 $198,750 $2,359 3.06%
    20 Year 5 $1,015,000 $203,000 $2,247 3.45%
    Other 2 $540,000 $270,000 $1,644 3.25%
    10 Year 1 $185,000 $185,000 $3,342 2.75%

    For 2020, Blmc Inc's most frequently cited loan duration was 30 Year, with 170 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 114 $26,750,000 $234,649
    $<1k 55 $14,835,000 $269,727
    $2k-3k 13 $2,555,000 $196,538
    $3k-4k 3 $645,000 $215,000
    $4k-5k 1 $275,000 $275,000

    Blmc Inc's average total fees were $3,724, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 114 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 118 $27,220,000 $230,678
    2.5-3% 63 $16,685,000 $264,841
    4-5% 4 $960,000 $240,000
    % 1 $195,000 $195,000

    During 2020, Blmc Inc's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 118 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 101 $27,675,000 $274,010 $3,634 3.19%
    $100k-200k 71 $11,435,000 $161,056 $3,349 3.27%
    $400k-600k 12 $5,250,000 $437,500 $4,949 3.22%
    $100,000 or less 1 $95,000 $95,000 $1,273 4.38%
    $600k-1MM 1 $605,000 $605,000 $4,291 3.13%

    2020 saw Blmc Inc place emphasis on $200k-400k loans with 101 originations, totaling $27,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 58 $11,590,000 $199,828 $3,698 3.23%
    $100k-150k 41 $12,065,000 $294,268 $3,891 3.21%
    $50k or less 36 $6,710,000 $186,389 $3,395 3.24%
    $75k-100k 30 $7,430,000 $247,667 $3,410 3.20%
    $150k-250k 14 $4,750,000 $339,286 $2,958 3.30%
    $250k+ 4 $1,430,000 $357,500 $4,396 3.44%

    Blmc Inc lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $100k-150k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 47 $10,905,000 $232,021 $3,776 3.26%
    20-30% 46 $11,630,000 $252,826 $3,241 3.24%
    <20% 20 $4,670,000 $233,500 $2,561 3.14%
    43% 9 $2,215,000 $246,111 $3,615 3.16%
    41% 7 $1,935,000 $276,429 $3,874 3.32%
    39% 7 $1,725,000 $246,429 $2,813 3.46%
    44% 7 $1,785,000 $255,000 $5,176 3.25%
    38% 6 $1,440,000 $240,000 $4,425 3.25%
    42% 5 $1,005,000 $201,000 $4,341 3.32%
    40% 5 $1,195,000 $239,000 $2,022 3.05%
    45% 4 $740,000 $185,000 $3,274 3.38%
    46% 4 $790,000 $197,500 $6,770 3.18%
    36% 4 $1,010,000 $252,500 $6,246 3.25%
    37% 3 $735,000 $245,000 $3,284 3.29%
    49% 2 $330,000 $165,000 $4,444 3.46%
    >60% 1 $155,000 $155,000 $3,762 3.25%
    47% 1 $195,000 $195,000 $6,542 3.00%
    48% 1 $425,000 $425,000 $3,020 2.99%
    50-60% 1 $245,000 $245,000 $2,280 3.25%

    Blmc Inc lent most frequently to those with DTI ratios of 30-36%, with 47 originations. The next most common DTI ratio? 20-30%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 182 $43,920,000 $241,319 $3,617 3.23%
    Black 3 $975,000 $325,000 $2,404 2.92%
    Asian 1 $165,000 $165,000 $4,234 3.50%

    Approval Rates

    Total approvals of all applications
    99.03%

    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 origination
    90.86%

    Blmc Inc has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 186 $45,060,000 $242,258

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 186 $45,060,000 $242,258

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $115,000 $115,000 $2,463 2.75%
    40-60% 7 $1,425,000 $203,571 $2,190 3.23%
    60-80% 71 $17,095,000 $240,775 $2,512 3.27%
    80-100% 99 $24,355,000 $246,010 $4,408 3.20%
    Over 100% 2 $370,000 $185,000 $9,760 3.25%