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

Alexandria, VA

LEI: 549300OS8C7J7ZWMNL70

Tax ID: 54-0155785

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Mortgage Data

Bank Data

Review & Overview

Burke & Herbert Bank & Trust Company is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Burke & Herbert Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, California, Easton, and Boston among others. We have data for 18 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.

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% 10/13/24
30 Year Conventional Refi 5.77% 10/13/24
30 Year Cash-out Refi 5.93% 10/13/24
15 Year Conventional Purchase 5.33% 10/13/24
15 Year Conventional Refi 5.54% 10/13/24
15 Year Cash-out Refi 5.54% 10/13/24
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

237

Origination Dollar Volume (All Markets)

$116,555,000

Employee count

455

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) 215 $108,705,000 $505,605 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,785,000 $595,000 $0 0.00%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 0.00%
Outside of Metro Areas 4 $940,000 $235,000 $0 0.00%
Easton, MD (FHA|USDA|VA) 1 $635,000 $635,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
EL PASO, TX (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
Kalispell, MT (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Burke & Herbert Bank & Trust Company's top markets include Washington, Baltimore, California, Easton, and Boston among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 237 $116,555,000 $491,793 $0 0.00%

    For 2019, Burke & Herbert Bank & Trust Company's most frequently originated type of loan was Conventional, with 237 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 112 $57,860,000 $516,607 $0 0.00%
    Home Purchase 72 $34,780,000 $483,056 $0 0.00%
    Refi 42 $19,520,000 $464,762 $0 0.00%
    Home Improvement 11 $4,395,000 $399,545 $0 0.00%

    For 2019, Burke & Herbert Bank & Trust Company's most frequently cited loan purpose was Cash Out Refi, with 112 originations. The 2nd most popular reason was Home Purchase, with 72 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 237 $116,555,000 $491,793 $0 0.00%

    For 2019, Burke & Herbert Bank & Trust Company's most frequently cited loan duration was Other, with 237 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 75 $22,115,000 $294,867 $0 0.00%
    $400k-600k 58 $29,150,000 $502,586 $0 0.00%
    $600k-1MM 43 $30,315,000 $705,000 $0 0.00%
    $100k-200k 30 $4,480,000 $149,333 $0 0.00%
    $1MM+ 16 $29,450,000 $1,840,625 $0 0.00%
    $100,000 or less 15 $1,045,000 $69,667 $0 0.00%

    2019 saw Burke & Herbert Bank & Trust Company place emphasis on $200k-400k loans with 75 originations, totaling $22,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 64 $31,960,000 $499,375 $0 0.00%
    $250k+ 41 $36,935,000 $900,854 $0 0.00%
    $100k-150k 40 $16,690,000 $417,250 $0 0.00%
    $75k-100k 31 $10,355,000 $334,032 $0 0.00%
    $50k-75k 25 $5,755,000 $230,200 $0 0.00%
    $50k or less 13 $2,625,000 $201,923 $0 0.00%

    Burke & Herbert Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 64 originations. The second most popular income band? $250k+, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 237 $116,555,000 $491,793 $0 0.00%

    Burke & Herbert Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 237 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 183 $91,875,000 $502,049 $0 0.00%
    Not applicable 15 $9,305,000 $620,333 $0 0.00%
    Not provided 20 $7,530,000 $376,500 $0 0.00%
    Black 7 $2,465,000 $352,143 $0 0.00%
    Other Asian 3 $2,255,000 $751,667 $0 0.00%
    Asian 5 $2,075,000 $415,000 $0 0.00%
    Korean 1 $405,000 $405,000 $0 0.00%
    Asian Indian 1 $245,000 $245,000 $0 0.00%
    Japanese 1 $235,000 $235,000 $0 0.00%
    American Indian 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.82%

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

    Pick Rate

    Approvals leading to origination
    84.39%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 237 $116,555,000 $491,793

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,680,000 $840,000
    Single Family (1-4 Units):Site-Built 235 $114,875,000 $488,830

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BERKSHIRE HILLS BANCORP, INC Conventional home mortgage Struggling to pay mortgage 1 25.0%
    BERKSHIRE HILLS BANCORP, INC Conventional home mortgage Trouble during payment process 1 25.0%
    BERKSHIRE HILLS BANCORP, INC Home equity loan or line of credit (HELOC) Closing on a mortgage 1 25.0%
    BERKSHIRE HILLS BANCORP, INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 25.0%

    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 $548,991
    Burke & Herbert Bank & Trust Company 14008 Smoketown Road Woodbridge, VA 22192 Full Service B&M $53,643
    Burke & Herbert Bank & Trust Company 14122 Lee Highway Fairfax, VA 22031 Full Service B&M $42,174
    Burke & Herbert Bank & Trust Company 155 North Paxton Street Alexandria, VA 22304 Full Service B&M $89,076
    Burke & Herbert Bank & Trust Company 1705 Fern Street Alexandria, VA 22302 Full Service B&M $148,414
    Burke & Herbert Bank & Trust Company 17119 Wayside Drive Dumfries, VA 22026 Full Service B&M $16,957
    Burke & Herbert Bank & Trust Company 1775 Jamieson Avenue Alexandria, VA 22314 Full Service B&M $67,153
    Burke & Herbert Bank & Trust Company 225 West Broad Street Falls Church, VA 22046 Full Service B&M $135,444
    Burke & Herbert Bank & Trust Company 2604 Sherwood Hall Lane Alexandria, VA 22306 Full Service B&M $161,095
    Burke & Herbert Bank & Trust Company 302 Maple Ave West Vienna, VA 22180 Full Service B&M $57,078
    Burke & Herbert Bank & Trust Company 3030 Clarendon Boulevard Arlington, VA 22201 Full Service B&M $55,583
    Burke & Herbert Bank & Trust Company 306 East Monroe Avenue Alexandria, VA 22301 Full Service B&M $91,910
    Burke & Herbert Bank & Trust Company 4235 Annandale Road Annandale, VA 22003 Full Service B&M $110,659
    Burke & Herbert Bank & Trust Company 4605 Daisy Reid Avenue Woodbridge, VA 22192 Full Service B&M $15,690
    Burke & Herbert Bank & Trust Company 500 23rd St S Arlington, VA 22202 Full Service B&M $67,542
    Burke & Herbert Bank & Trust Company 5519 Franconia Road Alexandria, VA 22310 Full Service B&M $118,606
    Burke & Herbert Bank & Trust Company 5705 Seminary Road Falls Church, VA 22041 Full Service B&M $55,398
    Burke & Herbert Bank & Trust Company 5731 Telegraph Road Alexandria, VA 22303 Full Service B&M $70,876
    Burke & Herbert Bank & Trust Company 6200 Backlick Road Springfield, VA 22150 Full Service B&M $65,594
    Burke & Herbert Bank & Trust Company 621 King Street Alexandria, VA 22314 Full Service B&M $84,832
    Burke & Herbert Bank & Trust Company 6210 Interparcel Road Alexandria, VA 22315 Full Service B&M $63,872
    Burke & Herbert Bank & Trust Company 6705 Whittier Avenue Mclean, VA 22101 Full Service B&M $52,058
    Burke & Herbert Bank & Trust Company 8736-8738 Cooper Road Alexandria, VA 22309 Full Service B&M $119,707
    Burke & Herbert Bank & Trust Company 9103 Centreville Road Manassas, VA 20110 Full Service B&M $37,789
    Burke & Herbert Bank & Trust Company 9516 Old Keene Mill Road Burke, VA 22015 Full Service B&M $67,991

    For 2019, Burke & Herbert Bank & Trust Company had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $110,685
    Net interest income $89,222
    Total noninterest income $15,031
    Gross Fiduciary activities income $3,003
    Service charges on deposit accounts $5,938
    Trading account gains and fees $0
    Additional Noninterest Income $6,090
    Pre-tax net operating income $13,531
    Securities gains (or losses, -) $3,192
    Income before extraordinary items $16,978
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,978
    Minority interest net income $0
    Net income $16,978
    Sale, conversion, retirement of capital stock, net $-3,093
    Net operating income $13,786

    Burke & Herbert Bank & Trust Company's gross interest income from loans was $110,685,000.
    Burke & Herbert Bank & Trust Company's net interest income from loans was $89,222,000.
    Burke & Herbert Bank & Trust Company's fee based income from loans was $5,938,000.
    Burke & Herbert Bank & Trust Company's net income from loans was $16,978,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $21,463
    Provision for credit losses $6,243
    Total noninterest expense $84,479
    Salaries and employee benefits $52,671
    Premises and equipment expense $11,445
    Additional noninterest expense $20,363
    Applicable income taxes $-255
    Net charge-offs $-637
    Cash dividends $14,990

    Burke & Herbert Bank & Trust Company's interest expense for loans was $21,463,000.
    Burke & Herbert Bank & Trust Company's payroll and benefits expense were $52,671,000.
    Burke & Herbert Bank & Trust Company's property, plant and equipment expenses $11,445,000.

    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 1.0%
    Commercial & industrial loans 19.0%
    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 $2,395,903
    Deposits held in domestic offices $2,395,903
    Deposits by Individuals, partnerships, and corporations $2,363,336
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $28,763
    Deposits by Commercial banks and other depository institutions in U.S. $3,804
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $131,458
    Demand deposits $101,598
    Nontransaction accounts $2,264,445
    Money market deposit accounts (MMDAs) $796,153
    Other savings deposits (excluding MMDAs) $1,057,678
    Total time deposits $410,614
    Total time and savings deposits $2,294,305
    Noninterest-bearing deposits $621,423
    Interest-bearing deposits $1,774,480
    Retail deposits $2,310,101
    IRAs and Keogh plan accounts $45,226
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,865,974
    Cash & Balances due from depository institutions $83,747
    Interest-bearing balances $61,936
    Total securities $693,750
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,860,970
    Loan and leases loss allowance $24,201
    Trading account assets $0
    Bank premises and fixed assets $40,637
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $186,870

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,865,974
    Total Liabilities $2,512,446
    Total deposits $2,395,903
    Interest-bearing deposits $1,774,480
    Deposits held in domestic offices $2,395,903
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $75,000
    Subordinated debt $0
    All other liabilities $41,543

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,860,970
    Loan and leases loss allowance $24,201
    Total loans and leases (domestic) $1,885,171
    All real estate loans $1,830,377
    Real estate loans in domestic offices $1,830,377
    Construction and development loans $175,705
    Residential 1-4 family construction $5,579
    Other construction, all land development and other land $170,126
    Loans secured by nonfarm nonresidential properties $1,098,226
    Nonfarm nonresidential secured by owner-occupied properties $189,710
    Commercial real estate & other non-farm, non-residential $908,516
    Multifamily residential real estate $75,870
    1-4 family residential loans $479,734
    Farmland loans $842
    Loans held in foreign offices $0
    Farm loans $16
    Commercial and industrial loans $30,331
    To non-U.S. addressees $0
    Loans to individuals $3,071
    Credit card loans $0
    Related Plans $1,201
    Consumer Auto Loans $298
    Other loans to individuals $1,572
    All other loans & leases $21,376
    Loans to foreign governments and official institutions $0
    Other loans $21,376
    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 $6,505
    Non 1-4 family restructured loans & leases $2,151
    Total loans and leases (foreign) $0

    Burke & Herbert Bank & Trust Company had $1,860,970,000 of loans outstanding in 2019. $1,830,377,000 of loans were in real estate loans. $175,705,000 of loans were in development loans. $75,870,000 of loans were in multifamily mortgage loans. $479,734,000 of loans were in 1-4 family mortgage loans. $16,000 of loans were in farm loans. $0 of loans were in credit card loans. $298,000 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 238 $73,049 $306,929
    Nonfarm, nonresidential loans - <$100k 15 $654 $43,600
    Nonfarm, nonresidential loans - $100-250k 69 $8,412 $121,913
    Nonfarm, nonresidential loans - $250k-1MM 154 $63,983 $415,474
    Commercial & Industrial, US addressed loans - <$1MM 168 $8,709 $51,839
    Commercial & Industrial, US addressed loans - <$100k 107 $2,057 $19,224
    Commercial & Industrial, US addressed loans - $100-250k 31 $2,370 $76,452
    Commercial & Industrial, US addressed loans - $250k-1MM 30 $4,282 $142,733
    Agriculture operations loans - <$1MM 1 $16 $16,000
    Agriculture operations loans - <$100k 1 $16 $16,000