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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    • 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. Their top markets by origination volume include: Washington, Easton, Richmond, Baltimore, and Philadelphia among others. We have data for 15 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. Burke & Herbert Bank & Trust Company is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.75% 4/28/24
    30 Year Conventional Refi 5.77% 4/28/24
    30 Year Cash-out Refi 5.93% 4/28/24
    15 Year Conventional Purchase 5.33% 4/28/24
    15 Year Conventional Refi 5.54% 4/28/24
    15 Year Cash-out Refi 5.54% 4/28/24
    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

    213

    Origination Dollar Volume (All Markets)

    $207,405,000

    Awards

    Burke & Herbert Bank & Trust Company 30 Year Conventional Loans silver Burke & Herbert Bank & Trust Company 30 Year Conventional Loans silver Burke & Herbert Bank & Trust Company 30 Year Conventional Loans gold
    Show all (3) awards

    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) 182 $173,860,000 $955,275 $4,905 4.08%
    Easton, MD (FHA|USDA|VA) 2 $19,630,000 $9,815,000 $0 8.00%
    Outside of Metro Areas 11 $4,355,000 $395,909 $3,760 3.72%
    RICHMOND, VA (FHA|USDA|VA) 4 $2,130,000 $532,500 $5,035 5.38%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,595,000 $531,667 $5,168 4.11%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $1,305,000 $1,305,000 $10,576 2.88%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $955,000 $955,000 $6,282 3.75%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $935,000 $935,000 $0 4.65%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $605,000 $605,000 $4,337 4.75%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $520,000 $260,000 $3,430 4.38%
    STAUNTON, VA (FHA|USDA|VA) 1 $425,000 $425,000 $4,480 3.50%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $395,000 $395,000 $4,782 3.38%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $385,000 $385,000 $5,020 4.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.68%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.25%
    Burke & Herbert Bank & Trust Company's top markets include Washington, Easton, Richmond, Baltimore, and Philadelphia among others.

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

    Cedar Point Federal Credit Union
    Similarity Rank: 370
    IDB Global Federal Credit Union
    Similarity Rank: 1133
    Burke & Herbert Bank & Trust Company
    Similarity Rank: 1260
    MISSION MORTGAGE LLC
    Similarity Rank: 1390
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 1548
    Member Options, LLC
    Similarity Rank: 1687
    NATIONAL COOPERATIVE BANK, N.A.
    Similarity Rank: 2040
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2106
    ANDREWS FEDERAL CREDIT UNION
    Similarity Rank: 2279
    Bank of Clarke County
    Similarity Rank: 2360

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $207,405,000 $973,732 $4,859 4.13%

    For 2022, Burke & Herbert Bank & Trust Company's most frequently originated type of loan was Conventional, with 213 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 136 $145,610,000 $1,070,662 $5,042 4.35%
    Refi 30 $30,480,000 $1,016,000 $4,107 3.64%
    Cash Out Refi 30 $16,360,000 $545,333 $4,434 3.77%
    Home Improvement 17 $14,955,000 $879,706 $5,367 3.81%

    For 2022, Burke & Herbert Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 136 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 181 $106,825,000 $590,193 $4,829 4.06%
    15 Year 12 $3,940,000 $328,333 $3,824 3.22%
    Other 6 $29,700,000 $4,950,000 $0 5.23%
    10 Year 5 $28,085,000 $5,617,000 $0 4.96%
    3 Year 5 $36,545,000 $7,309,000 $0 6.20%
    5 Year 3 $945,000 $315,000 $0 4.95%
    30+ year 1 $1,365,000 $1,365,000 $21,651 3.50%

    For 2022, Burke & Herbert Bank & Trust Company's most frequently cited loan duration was 30 Year, with 181 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 171 $99,365,000 $581,082
    $<1k 11 $4,725,000 $429,545
    $5k+ 4 $4,210,000 $1,052,500
    $3k-4k 2 $1,730,000 $865,000
    $2k-3k 1 $455,000 $455,000

    Burke & Herbert Bank & Trust Company's average total fees were $4,829, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 171 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 73 $53,945,000 $738,973
    4-5% 52 $53,670,000 $1,032,115
    5-6% 38 $42,570,000 $1,120,263
    2.5-3% 37 $29,705,000 $802,838
    6-7% 7 $4,335,000 $619,286
    <2.5% 4 $3,550,000 $887,500
    7-8% 2 $19,630,000 $9,815,000

    During 2022, Burke & Herbert Bank & Trust Company's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 58 $17,350,000 $299,138 $3,909 4.36%
    $600k-1MM 56 $42,250,000 $754,464 $5,337 3.91%
    $400k-600k 45 $23,085,000 $513,000 $4,506 4.04%
    $1MM+ 33 $121,615,000 $3,685,303 $7,768 4.13%
    $100k-200k 18 $2,870,000 $159,444 $3,373 4.19%
    $100,000 or less 3 $235,000 $78,333 $2,902 4.56%

    2022 saw Burke & Herbert Bank & Trust Company place emphasis on $200k-400k loans with 58 originations, totaling $17,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 59 $49,705,000 $842,458 $5,858 3.77%
    $150k-250k 55 $32,785,000 $596,091 $4,959 3.88%
    $100k-150k 38 $17,740,000 $466,842 $4,490 4.42%
    $50k-75k 18 $4,740,000 $263,333 $3,818 4.37%
    $75k-100k 15 $4,575,000 $305,000 $3,767 4.10%
    $50k or less 7 $2,315,000 $330,714 $3,708 3.59%

    Burke & Herbert Bank & Trust Company lent most frequently to those with incomes in the $250k+ range, with 59 originations. The second most popular income band? $150k-250k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $16,530,000 $486,176 $4,325 3.99%
    30-36% 30 $16,580,000 $552,667 $5,104 3.93%
    <20% 17 $11,925,000 $701,471 $4,502 3.38%
    36% 11 $6,045,000 $549,545 $4,744 3.81%
    40% 10 $4,040,000 $404,000 $4,181 4.89%
    42% 9 $5,595,000 $621,667 $4,981 4.65%
    44% 9 $6,045,000 $671,667 $6,595 3.79%
    37% 8 $6,370,000 $796,250 $5,312 3.55%
    46% 8 $3,910,000 $488,750 $4,359 4.13%
    39% 7 $5,745,000 $820,714 $6,813 3.75%
    43% 7 $5,025,000 $717,857 $5,871 3.77%
    48% 7 $4,255,000 $607,857 $4,579 4.02%
    50-60% 7 $3,405,000 $486,429 $4,084 4.50%
    41% 6 $3,650,000 $608,333 $5,640 4.13%
    47% 6 $3,110,000 $518,333 $4,231 4.48%
    38% 5 $1,755,000 $351,000 $4,141 4.33%
    49% 5 $2,705,000 $541,000 $4,381 3.70%
    45% 5 $4,295,000 $859,000 $4,878 4.38%
    >60% 1 $165,000 $165,000 $3,499 2.63%

    Burke & Herbert Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 17 $77,425,000 $4,554,412 $0 5.23%
    White 122 $70,400,000 $577,049 $4,888 3.93%
    Not provided 39 $41,275,000 $1,058,333 $5,005 4.02%
    Asian 17 $9,465,000 $556,765 $4,446 4.29%
    Black 17 $8,655,000 $509,118 $4,908 4.54%
    American Indian 1 $185,000 $185,000 $2,227 2.75%

    Approval Rates

    Total approvals of all applications
    92.83%

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

    Pick Rate

    Approvals leading to origination
    81.69%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 213 $207,405,000 $973,732

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    213 $207,405,000 $973,732

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $8,585,000 $373,261 $3,704 3.80%
    40-60% 28 $28,460,000 $1,016,429 $4,404 3.77%
    60-80% 67 $104,815,000 $1,564,403 $4,839 4.12%
    80-100% 88 $58,560,000 $665,455 $5,295 4.27%
    Under 20% 7 $6,985,000 $997,857 $3,917 4.78%