Fvcbank Mortgage Rates, Fees & Info
Fairfax, VALEI: 549300MSW6NY44KG3397
Tax ID: 02-0794839
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Fvcbank is a smaller bank specializing in Home Purchase and Refi 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.
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Originations
89Origination Dollar Volume (All Markets)
$73,085,000Top 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) | 47 | $58,965,000 | $1,254,574 | $0 | 5.29% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 41 | $13,575,000 | $331,098 | $0 | 6.25% |
| Outside of Metro Areas | 1 | $545,000 | $545,000 | $0 | 4.20% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 89 | $73,085,000 | $821,180 | $0 | 5.72% |
For 2019, Fvcbank's most frequently originated type of loan was Conventional, with 89 originations.
Loan Reason
For 2019, Fvcbank's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
For 2019, Fvcbank's most frequently cited loan duration was 1 Year, with 41 originations. The 2nd most popular length was 10 Year, with 28 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 32 | $48,510,000 | $1,515,938 |
| 7-8% | 20 | $4,920,000 | $246,000 |
| 5-6% | 17 | $9,385,000 | $552,059 |
| 6-7% | 15 | $3,325,000 | $221,667 |
| 3-4% | 5 | $6,945,000 | $1,389,000 |
During 2019, Fvcbank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 32 originations.
Loan Sizing
2019 saw Fvcbank place emphasis on $200k-400k loans with 29 originations, totaling $8,025,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 7 | $2,975,000 | $425,000 | $0 | 6.43% |
| $100k-150k | 1 | $675,000 | $675,000 | $0 | 4.75% |
| $150k-250k | 1 | $385,000 | $385,000 | $0 | 4.15% |
Fvcbank lent most frequently to those with incomes in the $250k+ range, with 7 originations. The second most popular income band? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 4 | $930,000 | $232,500 | $0 | 7.50% |
Fvcbank lent most frequently to those with DTI ratios of <20%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.84%
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 origination96.63%
Fvcbank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 89 | $73,085,000 | $821,180 |