Burke & Herbert Bank & Trust Company Mortgage Rates, Fees & Info
Alexandria, VALEI: 549300OS8C7J7ZWMNL70
Tax ID: 54-0155785
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Mortgage Data
Review & Overview
Burke & Herbert Bank & Trust Company is a smaller bank specializing in Home Purchase loans. Burke & Herbert Bank & Trust Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Washington, Richmond, Virginia Beach, Baltimore, and Winchester among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Burke & Herbert Bank & Trust Company 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.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 5.75% | 12/9/24 |
30 Year Conventional Refi | 5.77% | 12/9/24 |
30 Year Cash-out Refi | 5.93% | 12/9/24 |
15 Year Conventional Purchase | 5.33% | 12/9/24 |
15 Year Conventional Refi | 5.54% | 12/9/24 |
15 Year Cash-out Refi | 5.54% | 12/9/24 |
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. |
Burke & Herbert Bank & Trust Company Mortgage Calculator
Your Estimates
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This is not an official calculator from Burke & Herbert Bank & Trust Company. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
179Origination Dollar Volume (All Markets)
$116,695,000Top 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) | 150 | $98,540,000 | $656,933 | $0 | 0.00% |
RICHMOND, VA (FHA|USDA|VA) | 6 | $7,230,000 | $1,205,000 | $0 | 0.00% |
Outside of Metro Areas | 5 | $2,215,000 | $443,000 | $0 | 0.00% |
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $1,675,000 | $558,333 | $0 | 0.00% |
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $1,620,000 | $810,000 | $0 | 0.00% |
WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $1,205,000 | $401,667 | $0 | 0.00% |
MORGANTOWN, WV (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
SAVANNAH, GA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
HARRISONBURG, VA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Burke & Herbert Bank & Trust Company 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
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 168 | $112,220,000 | $667,976 | $0 | 0.00% |
FHA | 8 | $3,320,000 | $415,000 | $0 | 0.00% |
VA | 3 | $1,155,000 | $385,000 | $0 | 0.00% |
For 2023, Burke & Herbert Bank & Trust Company's most frequently originated type of loan was Conventional, with 168 originations. Their 2nd most popular type was FHA, with 8 originations.
Loan Reason
For 2023, Burke & Herbert Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 157 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 179 | $116,695,000 | $651,927 | $0 | 0.00% |
For 2023, Burke & Herbert Bank & Trust Company's most frequently cited loan duration was Other, with 179 originations.
Loan Sizing
2023 saw Burke & Herbert Bank & Trust Company place emphasis on $400k-600k loans with 52 originations, totaling $25,200,000 in origination value.
Applicant Income
Burke & Herbert Bank & Trust Company lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $250k+, with 51 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 179 | $116,695,000 | $651,927 | $0 | 0.00% |
Burke & Herbert Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 179 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.02%
Burke & Herbert Bank & Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination77.09%
Burke & Herbert Bank & Trust Company has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 179 | $116,695,000 | $651,927 |