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 Refi, 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, Salisbury, Virginia Beach, Baltimore, and California 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.

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

260

Origination Dollar Volume (All Markets)

$101,900,000

Employee count

409

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) 241 $96,265,000 $399,440 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $1,190,000 $595,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $925,000 $308,333 $0 0.00%
Outside of Metro Areas 2 $700,000 $350,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Newberry, SC (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
ROCHESTER, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Burke & Herbert Bank & Trust Company's top markets include Washington, Salisbury, Virginia Beach, Baltimore, and California among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 260 $101,900,000 $391,923 $0 0.00%

    For 2020, Burke & Herbert Bank & Trust Company's most frequently originated type of loan was Conventional, with 260 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 109 $41,725,000 $382,798 $0 0.00%
    Cash Out Refi 90 $34,230,000 $380,333 $0 0.00%
    Home Purchase 47 $21,355,000 $454,362 $0 0.00%
    Home Improvement 14 $4,590,000 $327,857 $0 0.00%

    For 2020, Burke & Herbert Bank & Trust Company's most frequently cited loan purpose was Refi, with 109 originations. The 2nd most popular reason was Cash Out Refi, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 260 $101,900,000 $391,923 $0 0.00%

    For 2020, Burke & Herbert Bank & Trust Company's most frequently cited loan duration was Other, with 260 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 117 $34,945,000 $298,675 $0 0.00%
    $400k-600k 63 $30,575,000 $485,317 $0 0.00%
    $100k-200k 43 $6,805,000 $158,256 $0 0.00%
    $600k-1MM 22 $16,460,000 $748,182 $0 0.00%
    $1MM+ 9 $12,595,000 $1,399,444 $0 0.00%
    $100,000 or less 6 $520,000 $86,667 $0 0.00%

    2020 saw Burke & Herbert Bank & Trust Company place emphasis on $200k-400k loans with 117 originations, totaling $34,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 71 $29,545,000 $416,127 $0 0.00%
    $100k-150k 57 $19,585,000 $343,596 $0 0.00%
    $250k+ 43 $28,425,000 $661,047 $0 0.00%
    $75k-100k 36 $10,710,000 $297,500 $0 0.00%
    $50k-75k 31 $7,055,000 $227,581 $0 0.00%
    $50k or less 11 $1,835,000 $166,818 $0 0.00%

    Burke & Herbert Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $100k-150k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 260 $101,900,000 $391,923 $0 0.00%

    Burke & Herbert Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 260 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 171 $66,135,000 $386,754 $0 0.00%
    Not provided 54 $21,670,000 $401,296 $0 0.00%
    Black 12 $3,690,000 $307,500 $0 0.00%
    Not applicable 6 $2,620,000 $436,667 $0 0.00%
    Asian Indian 3 $2,105,000 $701,667 $0 0.00%
    Other Asian 4 $1,490,000 $372,500 $0 0.00%
    Asian 5 $1,405,000 $281,000 $0 0.00%
    American Indian 1 $1,375,000 $1,375,000 $0 0.00%
    Japanese 1 $635,000 $635,000 $0 0.00%
    Vietnamese 1 $345,000 $345,000 $0 0.00%
    Korean 1 $245,000 $245,000 $0 0.00%
    Filipino 1 $185,000 $185,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.32%

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

    Pick Rate

    Approvals leading to origination
    78.85%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 260 $101,900,000 $391,923

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 260 $101,900,000 $391,923

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BERKSHIRE HILLS BANCORP, INC Conventional home mortgage Applying for a mortgage or refinancing an existing 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) Trouble during payment process 2 50.0%

    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 $556,765
    Burke & Herbert Bank & Trust Company 14008 Smoketown Road Woodbridge, VA 22192 Full Service B&M $61,258
    Burke & Herbert Bank & Trust Company 14122 Lee Highway Fairfax, VA 22031 Full Service B&M $50,148
    Burke & Herbert Bank & Trust Company 155 North Paxton Street Alexandria, VA 22304 Full Service B&M $108,845
    Burke & Herbert Bank & Trust Company 1705 Fern Street Alexandria, VA 22302 Full Service B&M $165,550
    Burke & Herbert Bank & Trust Company 17119 Wayside Drive Dumfries, VA 22026 Full Service B&M $21,857
    Burke & Herbert Bank & Trust Company 1775 Jamieson Avenue Alexandria, VA 22314 Full Service B&M $83,250
    Burke & Herbert Bank & Trust Company 225 West Broad Street Falls Church, VA 22046 Full Service B&M $145,003
    Burke & Herbert Bank & Trust Company 2604 Sherwood Hall Lane Alexandria, VA 22306 Full Service B&M $177,382
    Burke & Herbert Bank & Trust Company 302 Maple Ave West Vienna, VA 22180 Full Service B&M $66,760
    Burke & Herbert Bank & Trust Company 3030 Clarendon Boulevard Arlington, VA 22201 Full Service B&M $59,535
    Burke & Herbert Bank & Trust Company 306 East Monroe Avenue Alexandria, VA 22301 Full Service B&M $102,078
    Burke & Herbert Bank & Trust Company 4235 Annandale Road Annandale, VA 22003 Full Service B&M $133,352
    Burke & Herbert Bank & Trust Company 4605 Daisy Reid Avenue Woodbridge, VA 22192 Full Service B&M $23,301
    Burke & Herbert Bank & Trust Company 500 23rd St S Arlington, VA 22202 Full Service B&M $73,445
    Burke & Herbert Bank & Trust Company 5519 Franconia Road Alexandria, VA 22310 Full Service B&M $136,635
    Burke & Herbert Bank & Trust Company 5705 Seminary Road Falls Church, VA 22041 Full Service B&M $62,728
    Burke & Herbert Bank & Trust Company 5731 Telegraph Road Alexandria, VA 22303 Full Service B&M $80,290
    Burke & Herbert Bank & Trust Company 6200 Backlick Road Springfield, VA 22150 Full Service B&M $76,064
    Burke & Herbert Bank & Trust Company 621 King Street Alexandria, VA 22314 Full Service B&M $79,032
    Burke & Herbert Bank & Trust Company 6210 Interparcel Road Alexandria, VA 22315 Full Service B&M $78,801
    Burke & Herbert Bank & Trust Company 6705 Whittier Avenue Mclean, VA 22101 Full Service B&M $68,590
    Burke & Herbert Bank & Trust Company 8736-8738 Cooper Road Alexandria, VA 22309 Full Service B&M $178,081
    Burke & Herbert Bank & Trust Company 9103 Centreville Road Manassas, VA 20110 Full Service B&M $48,360
    Burke & Herbert Bank & Trust Company 9516 Old Keene Mill Road Burke, VA 22015 Full Service B&M $68,742

    For 2020, Burke & Herbert Bank & Trust Company had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $101,544
    Net interest income $90,255
    Total noninterest income $16,593
    Gross Fiduciary activities income $3,067
    Service charges on deposit accounts $5,307
    Trading account gains and fees $0
    Additional Noninterest Income $8,219
    Pre-tax net operating income $26,495
    Securities gains (or losses, -) $1,944
    Income before extraordinary items $26,499
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $26,499
    Minority interest net income $0
    Net income $26,499
    Sale, conversion, retirement of capital stock, net $-1,398
    Net operating income $24,691

    Burke & Herbert Bank & Trust Company's gross interest income from loans was $101,544,000.
    Burke & Herbert Bank & Trust Company's net interest income from loans was $90,255,000.
    Burke & Herbert Bank & Trust Company's fee based income from loans was $5,307,000.
    Burke & Herbert Bank & Trust Company's net income from loans was $26,499,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $11,289
    Provision for credit losses $12,648
    Total noninterest expense $67,705
    Salaries and employee benefits $41,236
    Premises and equipment expense $10,643
    Additional noninterest expense $15,826
    Applicable income taxes $1,940
    Net charge-offs $4,152
    Cash dividends $14,906

    Burke & Herbert Bank & Trust Company's interest expense for loans was $11,289,000.
    Burke & Herbert Bank & Trust Company's payroll and benefits expense were $41,236,000.
    Burke & Herbert Bank & Trust Company's property, plant and equipment expenses $10,643,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $2,789,446
    Deposits held in domestic offices $2,789,446
    Deposits by Individuals, partnerships, and corporations $2,736,371
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $50,034
    Deposits by Commercial banks and other depository institutions in U.S. $3,041
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,389,991
    Demand deposits $972,412
    Nontransaction accounts $1,399,455
    Money market deposit accounts (MMDAs) $832,064
    Other savings deposits (excluding MMDAs) $220,649
    Total time deposits $346,742
    Total time and savings deposits $1,817,034
    Noninterest-bearing deposits $852,008
    Interest-bearing deposits $1,937,438
    Retail deposits $2,723,137
    IRAs and Keogh plan accounts $43,690
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,432,910
    Cash & Balances due from depository institutions $228,704
    Interest-bearing balances $206,771
    Total securities $1,159,701
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,809,289
    Loan and leases loss allowance $32,697
    Trading account assets $0
    Bank premises and fixed assets $50,433
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $184,783

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,432,910
    Total Liabilities $3,048,033
    Total deposits $2,789,446
    Interest-bearing deposits $1,937,438
    Deposits held in domestic offices $2,789,446
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $227,059
    Subordinated debt $0
    All other liabilities $31,528

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,809,289
    Loan and leases loss allowance $32,697
    Total loans and leases (domestic) $1,841,986
    All real estate loans $1,684,778
    Real estate loans in domestic offices $1,684,778
    Construction and development loans $154,250
    Residential 1-4 family construction $3,269
    Other construction, all land development and other land $150,981
    Loans secured by nonfarm nonresidential properties $1,016,448
    Nonfarm nonresidential secured by owner-occupied properties $130,558
    Commercial real estate & other non-farm, non-residential $885,890
    Multifamily residential real estate $73,584
    1-4 family residential loans $439,684
    Farmland loans $812
    Loans held in foreign offices $0
    Farm loans $25
    Commercial and industrial loans $129,921
    To non-U.S. addressees $0
    Loans to individuals $2,611
    Credit card loans $0
    Related Plans $1,040
    Consumer Auto Loans $302
    Other loans to individuals $1,269
    All other loans & leases $24,651
    Loans to foreign governments and official institutions $0
    Other loans $24,651
    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 $6,205
    Non 1-4 family restructured loans & leases $2,060
    Total loans and leases (foreign) $0

    Burke & Herbert Bank & Trust Company had $1,809,289,000 of loans outstanding in 2020. $1,684,778,000 of loans were in real estate loans. $154,250,000 of loans were in development loans. $73,584,000 of loans were in multifamily mortgage loans. $439,684,000 of loans were in 1-4 family mortgage loans. $25,000 of loans were in farm loans. $0 of loans were in credit card loans. $302,000 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 208 $63,697 $306,236
    Nonfarm, nonresidential loans - <$100k 10 $518 $51,800
    Nonfarm, nonresidential loans - $100-250k 62 $7,630 $123,065
    Nonfarm, nonresidential loans - $250k-1MM 136 $55,549 $408,449
    Commercial & Industrial, US addressed loans - <$1MM 1,133 $93,919 $82,894
    Commercial & Industrial, US addressed loans - <$100k 809 $27,179 $33,596
    Commercial & Industrial, US addressed loans - $100-250k 219 $30,509 $139,311
    Commercial & Industrial, US addressed loans - $250k-1MM 105 $36,231 $345,057
    Agriculture operations loans - <$1MM 1 $25 $25,000
    Agriculture operations loans - <$100k 1 $25 $25,000