Fvcbank Mortgage Rates, Fees & Info

Fairfax, VA

LEI: 549300MSW6NY44KG3397

Tax ID: 02-0794839

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
  • Complaints
  • 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

    Fvcbank is a smaller bank specializing in Home Purchase loans. Fvcbank has a high proportion of conventional loans. Their top two markets are Washington and Baltimore .

    Fvcbank 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.

    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

    51

    Origination Dollar Volume (All Markets)

    $31,535,000

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 41 $28,845,000 $703,537 $0 5.31%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 10 $2,690,000 $269,000 $0 5.90%
    Fvcbank's top markets include Washington and Baltimore among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 51 $31,535,000 $618,333 $0 5.42%

    For 2018, Fvcbank's most frequently originated type of loan was Conventional, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $24,855,000 $606,220 $0 5.52%
    Refi 8 $6,040,000 $755,000 $0 4.66%
    Home Improvement 2 $640,000 $320,000 $0 6.50%

    For 2018, Fvcbank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 18 $7,890,000 $438,333 $0 6.17%
    10 Year 16 $8,580,000 $536,250 $0 4.95%
    Other 12 $8,730,000 $727,500 $0 5.22%
    5 Year 4 $4,530,000 $1,132,500 $0 4.75%
    3 Year 1 $1,805,000 $1,805,000 $0 4.70%

    For 2018, Fvcbank's most frequently cited loan duration was 1 Year, with 18 originations. The 2nd most popular length was 10 Year, with 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 25 $14,595,000 $583,800
    4-5% 18 $15,370,000 $853,889
    7-8% 5 $1,345,000 $269,000
    6-7% 3 $225,000 $75,000

    During 2018, Fvcbank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 12 $9,920,000 $826,667 $0 5.06%
    $1MM+ 11 $14,735,000 $1,339,545 $0 4.95%
    $100k-200k 10 $1,260,000 $126,000 $0 5.27%
    $400k-600k 8 $3,640,000 $455,000 $0 5.55%
    $200k-400k 6 $1,760,000 $293,333 $0 6.22%
    $100,000 or less 4 $220,000 $55,000 $0 6.75%

    2018 saw Fvcbank place emphasis on $600k-1MM loans with 12 originations, totaling $9,920,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 3 $935,000 $311,667 $0 6.83%
    $250k+ 1 $985,000 $985,000 $0 5.38%

    Fvcbank lent most frequently to those with incomes in the $150k-250k range, with 3 originations. The second most popular income band? $250k+, with 1 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 2 $510,000 $255,000 $0 7.25%

    Fvcbank lent most frequently to those with DTI ratios of <20%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 46 $29,150,000 $633,696 $0 5.34%
    Asian 1 $985,000 $985,000 $0 5.38%
    White 2 $890,000 $445,000 $0 5.56%
    Not provided 2 $510,000 $255,000 $0 7.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    Fvcbank 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
    90.20%

    Fvcbank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 51 $31,535,000 $618,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $10,020,000 $1,002,000
    Single Family (1-4 Units):Site-Built 41 $21,515,000 $524,756

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $405,000 $405,000 $0 4.85%
    40-60% 5 $3,695,000 $739,000 $0 5.35%
    60-80% 38 $23,990,000 $631,316 $0 5.44%
    80-100% 3 $2,685,000 $895,000 $0 5.43%
    Under 20% 3 $385,000 $128,333 $0 5.47%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FCC Finance, LLC Other type of mortgage Struggling to pay mortgage 1 100.0%