Burke & Herbert Bank & Trust Company Mortgage Rates, Fees & Info

Alexandria, VA

LEI: 549300OS8C7J7ZWMNL70

Tax ID: 54-0155785

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Burke & Herbert Bank & Trust Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Burke & Herbert Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Winchester, Salisbury, and Virginia Beach among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Burke & Herbert Bank & Trust Company has an 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.75% 4/18/24
    30 Year Conventional Refi 5.77% 4/18/24
    30 Year Cash-out Refi 5.93% 4/18/24
    15 Year Conventional Purchase 5.33% 4/18/24
    15 Year Conventional Refi 5.54% 4/18/24
    15 Year Cash-out Refi 5.54% 4/18/24
    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

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    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

    169

    Origination Dollar Volume (All Markets)

    $87,685,000

    Employee count

    470

    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) 158 $82,770,000 $523,861 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $1,140,000 $570,000 $0 0.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $715,000 $715,000 $0 0.00%
    Outside of Metro Areas 2 $640,000 $320,000 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $595,000 $595,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Burke & Herbert Bank & Trust Company's top markets include Washington, Baltimore, Winchester, Salisbury, and Virginia Beach among others.

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

    • 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.

    Bank of Clarke County
    Similarity Rank: 320
    LIBRARY OF CONGRESS
    Similarity Rank: 448
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    EDUCATIONAL SYSTEMS
    Similarity Rank: 693
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 1220
    IDB Global Federal Credit Union
    Similarity Rank: 1240
    City National Bank of West Virginia
    Similarity Rank: 1482
    Poli Mortgage Group, Inc.
    Similarity Rank: 1596
    IAPPROVE LENDING
    Similarity Rank: 1740

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 169 $87,685,000 $518,846 $0 0.00%

    For 2018, Burke & Herbert Bank & Trust Company's most frequently originated type of loan was Conventional, with 169 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 84 $44,760,000 $532,857 $0 0.00%
    Cash Out Refi 54 $30,220,000 $559,630 $0 0.00%
    Refi 21 $8,135,000 $387,381 $0 0.00%
    Home Improvement 10 $4,570,000 $457,000 $0 0.00%

    For 2018, Burke & Herbert Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 169 $87,685,000 $518,846 $0 0.00%

    For 2018, Burke & Herbert Bank & Trust Company's most frequently cited loan duration was Other, with 169 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 45 $22,825,000 $507,222 $0 0.00%
    $200k-400k 44 $12,840,000 $291,818 $0 0.00%
    $600k-1MM 35 $25,495,000 $728,429 $0 0.00%
    $100k-200k 27 $3,905,000 $144,630 $0 0.00%
    $1MM+ 14 $22,330,000 $1,595,000 $0 0.00%
    $100,000 or less 4 $290,000 $72,500 $0 0.00%

    2018 saw Burke & Herbert Bank & Trust Company place emphasis on $400k-600k loans with 45 originations, totaling $22,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 44 $25,130,000 $571,136 $0 0.00%
    $250k+ 38 $29,120,000 $766,316 $0 0.00%
    $100k-150k 34 $12,130,000 $356,765 $0 0.00%
    $50k-75k 13 $3,065,000 $235,769 $0 0.00%
    $75k-100k 13 $3,115,000 $239,615 $0 0.00%
    $50k or less 9 $2,295,000 $255,000 $0 0.00%

    Burke & Herbert Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 44 originations. The second most popular income band? $250k+, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 169 $87,685,000 $518,846 $0 0.00%

    Burke & Herbert Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 169 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 112 $57,910,000 $517,054 $0 0.00%
    Not applicable 12 $9,270,000 $772,500 $0 0.00%
    Not provided 13 $8,105,000 $623,462 $0 0.00%
    Asian 12 $5,580,000 $465,000 $0 0.00%
    Black 12 $4,370,000 $364,167 $0 0.00%
    Asian Indian 1 $675,000 $675,000 $0 0.00%
    American Indian 2 $490,000 $245,000 $0 0.00%
    Korean 2 $440,000 $220,000 $0 0.00%
    Other Asian 1 $365,000 $365,000 $0 0.00%
    Native Hawaiian or Islander 1 $275,000 $275,000 $0 0.00%
    Vietnamese 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.55%

    Burke & Herbert Bank & Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.37%

    Burke & Herbert Bank & Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 169 $87,685,000 $518,846

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $6,755,000 $1,351,000
    Single Family (1-4 Units):Site-Built 164 $80,930,000 $493,476

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BROKER SOLUTIONS, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.6%
    BROKER SOLUTIONS, INC. Conventional home mortgage Closing on a mortgage 1 2.8%
    BROKER SOLUTIONS, INC. Conventional home mortgage Struggling to pay mortgage 1 2.8%
    BROKER SOLUTIONS, INC. Conventional home mortgage Trouble during payment process 10 27.8%
    BROKER SOLUTIONS, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 11.1%
    BROKER SOLUTIONS, INC. FHA mortgage Closing on a mortgage 2 5.6%
    BROKER SOLUTIONS, INC. FHA mortgage Struggling to pay mortgage 3 8.3%
    BROKER SOLUTIONS, INC. FHA mortgage Trouble during payment process 5 13.9%
    BROKER SOLUTIONS, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.8%
    BROKER SOLUTIONS, INC. Reverse mortgage Closing on a mortgage 1 2.8%
    BROKER SOLUTIONS, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.8%
    BROKER SOLUTIONS, INC. VA mortgage Closing on a mortgage 1 2.8%
    BROKER SOLUTIONS, INC. VA mortgage Struggling to pay mortgage 2 5.6%
    BROKER SOLUTIONS, INC. VA mortgage Trouble during payment process 2 5.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Burke & Herbert Bank & Trust Company 100 South Fairfax Street Alexandria, VA 22314 Full Service B&M $561,034
    Burke & Herbert Bank & Trust Company 14008 Smoketown Road Woodbridge, VA 22192 Full Service B&M $56,323
    Burke & Herbert Bank & Trust Company 14122 Lee Highway Fairfax, VA 22031 Full Service B&M $36,758
    Burke & Herbert Bank & Trust Company 155 North Paxton Street Alexandria, VA 22304 Full Service B&M $88,297
    Burke & Herbert Bank & Trust Company 1705 Fern Street Alexandria, VA 22302 Full Service B&M $141,471
    Burke & Herbert Bank & Trust Company 17119 Wayside Drive Dumfries, VA 22026 Full Service B&M $15,813
    Burke & Herbert Bank & Trust Company 1775 Jamieson Avenue Alexandria, VA 22314 Full Service B&M $61,313
    Burke & Herbert Bank & Trust Company 225 West Broad Street Falls Church, VA 22046 Full Service B&M $131,618
    Burke & Herbert Bank & Trust Company 2604 Sherwood Hall Lane Alexandria, VA 22306 Full Service B&M $160,105
    Burke & Herbert Bank & Trust Company 302 Maple Ave West Vienna, VA 22180 Full Service B&M $46,909
    Burke & Herbert Bank & Trust Company 3030 Clarendon Boulevard Arlington, VA 22201 Full Service B&M $62,735
    Burke & Herbert Bank & Trust Company 306 East Monroe Avenue Alexandria, VA 22301 Full Service B&M $93,384
    Burke & Herbert Bank & Trust Company 4235 Annandale Road Annandale, VA 22003 Full Service B&M $97,939
    Burke & Herbert Bank & Trust Company 4605 Daisy Reid Avenue Woodbridge, VA 22192 Full Service B&M $12,906
    Burke & Herbert Bank & Trust Company 500 23rd St S Arlington, VA 22202 Full Service B&M $63,900
    Burke & Herbert Bank & Trust Company 5519 Franconia Road Alexandria, VA 22310 Full Service B&M $121,396
    Burke & Herbert Bank & Trust Company 5705 Seminary Road Falls Church, VA 22041 Full Service B&M $50,843
    Burke & Herbert Bank & Trust Company 5731 Telegraph Road Alexandria, VA 22303 Full Service B&M $70,174
    Burke & Herbert Bank & Trust Company 6200 Backlick Road Springfield, VA 22150 Full Service B&M $64,603
    Burke & Herbert Bank & Trust Company 621 King Street Alexandria, VA 22314 Full Service B&M $87,008
    Burke & Herbert Bank & Trust Company 6210 Interparcel Road Alexandria, VA 22315 Full Service B&M $57,581
    Burke & Herbert Bank & Trust Company 6705 Whittier Avenue Mclean, VA 22101 Full Service B&M $44,741
    Burke & Herbert Bank & Trust Company 8736-8738 Cooper Road Alexandria, VA 22309 Full Service B&M $114,047
    Burke & Herbert Bank & Trust Company 9103 Centreville Road Manassas, VA 20110 Full Service B&M $28,043
    Burke & Herbert Bank & Trust Company 9516 Old Keene Mill Road Burke, VA 22015 Full Service B&M $60,658

    For 2018, Burke & Herbert Bank & Trust Company had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $111,599
    Net interest income $96,117
    Total noninterest income $16,869
    Gross Fiduciary activities income $3,016
    Service charges on deposit accounts $5,788
    Trading account gains and fees $0
    Additional Noninterest Income $8,065
    Pre-tax net operating income $36,171
    Securities gains (or losses, -) $397
    Income before extraordinary items $34,388
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $34,388
    Minority interest net income $0
    Net income $34,388
    Sale, conversion, retirement of capital stock, net $-7,322
    Net operating income $34,014

    Burke & Herbert Bank & Trust Company's gross interest income from loans was $111,599,000.
    Burke & Herbert Bank & Trust Company's net interest income from loans was $96,117,000.
    Burke & Herbert Bank & Trust Company's fee based income from loans was $5,788,000.
    Burke & Herbert Bank & Trust Company's net income from loans was $34,388,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $15,482
    Provision for credit losses $1,148
    Total noninterest expense $75,667
    Salaries and employee benefits $46,807
    Premises and equipment expense $10,467
    Additional noninterest expense $18,393
    Applicable income taxes $2,180
    Net charge-offs $66
    Cash dividends $15,144

    Burke & Herbert Bank & Trust Company's interest expense for loans was $15,482,000.
    Burke & Herbert Bank & Trust Company's payroll and benefits expense were $46,807,000.
    Burke & Herbert Bank & Trust Company's property, plant and equipment expenses $10,467,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $2,308,733
    Deposits held in domestic offices $2,308,733
    Deposits by Individuals, partnerships, and corporations $2,276,806
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $28,667
    Deposits by Commercial banks and other depository institutions in U.S. $3,260
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $176,478
    Demand deposits $145,210
    Nontransaction accounts $2,132,255
    Money market deposit accounts (MMDAs) $732,683
    Other savings deposits (excluding MMDAs) $1,063,429
    Total time deposits $336,143
    Total time and savings deposits $2,163,523
    Noninterest-bearing deposits $618,527
    Interest-bearing deposits $1,690,206
    Retail deposits $2,250,358
    IRAs and Keogh plan accounts $46,773
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,006,721
    Cash & Balances due from depository institutions $101,880
    Interest-bearing balances $79,038
    Total securities $847,776
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,835,546
    Loan and leases loss allowance $17,321
    Trading account assets $0
    Bank premises and fixed assets $42,240
    Other real estate owned $338
    Goodwill and other intangibles $0
    All other assets $178,941

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,006,721
    Total Liabilities $2,660,858
    Total deposits $2,308,733
    Interest-bearing deposits $1,690,206
    Deposits held in domestic offices $2,308,733
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $320,000
    Subordinated debt $0
    All other liabilities $32,125

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,835,546
    Loan and leases loss allowance $17,321
    Total loans and leases (domestic) $1,852,867
    All real estate loans $1,791,676
    Real estate loans in domestic offices $1,791,676
    Construction and development loans $157,377
    Residential 1-4 family construction $10,191
    Other construction, all land development and other land $147,186
    Loans secured by nonfarm nonresidential properties $1,091,812
    Nonfarm nonresidential secured by owner-occupied properties $259,144
    Commercial real estate & other non-farm, non-residential $832,668
    Multifamily residential real estate $80,257
    1-4 family residential loans $460,045
    Farmland loans $2,185
    Loans held in foreign offices $0
    Farm loans $15
    Commercial and industrial loans $37,888
    To non-U.S. addressees $0
    Loans to individuals $1,943
    Credit card loans $0
    Related Plans $1,084
    Consumer Auto Loans $101
    Other loans to individuals $758
    All other loans & leases $21,345
    Loans to foreign governments and official institutions $0
    Other loans $21,345
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $9,765
    Non 1-4 family restructured loans & leases $5,192
    Total loans and leases (foreign) $0

    Burke & Herbert Bank & Trust Company had $1,835,546,000 of loans outstanding in 2018. $1,791,676,000 of loans were in real estate loans. $157,377,000 of loans were in development loans. $80,257,000 of loans were in multifamily mortgage loans. $460,045,000 of loans were in 1-4 family mortgage loans. $15,000 of loans were in farm loans. $0 of loans were in credit card loans. $101,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 276 $87,804 $318,130
    Nonfarm, nonresidential loans - <$100k 19 $850 $44,737
    Nonfarm, nonresidential loans - $100-250k 79 $9,903 $125,354
    Nonfarm, nonresidential loans - $250k-1MM 178 $77,051 $432,871
    Commercial & Industrial, US addressed loans - <$1MM 196 $10,402 $53,071
    Commercial & Industrial, US addressed loans - <$100k 124 $2,459 $19,831
    Commercial & Industrial, US addressed loans - $100-250k 33 $1,908 $57,818
    Commercial & Industrial, US addressed loans - $250k-1MM 39 $6,035 $154,744
    Agriculture operations loans - <$1MM 1 $15 $15,000
    Agriculture operations loans - <$100k 1 $15 $15,000