Blucurrent Mortgage Rates, Fees & Info
SPRINGFIELD, MOLEI: 549300PHPKOL5FJ7D438
Tax ID: 44-0444275
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Mortgage Data
Review & Overview
Blucurrent is a smaller mortgage company specializing in Refi and Home Purchase loans. Blucurrent 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: Springfield, Branson, St. Louis, Joplin, and Kansas City among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Blucurrent 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. Blucurrent is typically a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 9/1/24 |
| 30 Year Conventional Purchase | 7.22% | 9/1/24 |
| 30 Year Conventional Refi | 7.12% | 9/1/24 |
| 30 Year Cash-out Refi | 7.25% | 9/1/24 |
| 30 Year FHA Purchase | 7.75% | 9/1/24 |
| 15 Year Conventional Purchase | 6.08% | 9/1/24 |
| 15 Year Conventional Refi | 5.68% | 9/1/24 |
| 15 Year Cash-out Refi | 5.68% | 9/1/24 |
| 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. | ||
Blucurrent Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
251Origination Dollar Volume (All Markets)
$17,515,000Top 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 |
|---|---|---|---|---|---|
| SPRINGFIELD, MO (FHA|USDA|VA) | 219 | $15,625,000 | $71,347 | $2,289 | 5.28% |
| Outside of Metro Areas | 16 | $920,000 | $57,500 | $2,203 | 5.05% |
| Branson, MO (FHA|USDA|VA) | 7 | $405,000 | $57,857 | $0 | 5.61% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $1,923 | 5.04% |
| JOPLIN, MO (FHA|USDA|VA) | 4 | $150,000 | $37,500 | $0 | 4.69% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.25% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against BLUCURRENT 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 |
|---|---|---|---|---|---|
| HELOC | 212 | $10,050,000 | $47,406 | n/a | 5.31% |
| Conventional | 38 | $7,390,000 | $194,474 | $2,138 | 5.04% |
| FHA | 1 | $75,000 | $75,000 | $0 | 5.25% |
For 2018, Blucurrent's most frequently originated type of loan was HELOC, with 212 originations. Their 2nd most popular type was Conventional, with 38 originations.
Loan Reason
For 2018, Blucurrent's most frequently cited loan purpose was Refi, with 210 originations. The 2nd most popular reason was Home Purchase, with 31 originations.
Loan Duration/Length
For 2018, Blucurrent's most frequently cited loan duration was 15 Year, with 209 originations. The 2nd most popular length was 5 Year, with 31 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $505,000 | $168,333 |
Blucurrent's average total fees were $2,138, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
During 2018, Blucurrent's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 118 originations.
Loan Sizing
2018 saw Blucurrent place emphasis on $100,000 or less loans with 206 originations, totaling $7,730,000 in origination value.
Applicant Income
Blucurrent lent most frequently to those with incomes in the $50k or less range, with 65 originations. The second most popular income band? $50k-75k, with 61 originations.
Applicant Debt to Income Ratio
Blucurrent lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 43 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 246 | $17,410,000 | $70,772 | $2,138 | 5.24% |
| Black | 3 | $65,000 | $21,667 | $0 | 6.83% |
| Asian | 2 | $40,000 | $20,000 | $0 | 7.13% |
Approval Rates
Total approvals of all applications72.86%
Blucurrent has a below average approval rate.
Pick Rate
Approvals leading to origination47.81%
Blucurrent has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 251 | $17,515,000 | $69,781 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $1,980,000 | $990,000 |
| Single Family (1-4 Units):Site-Built | 249 | $15,535,000 | $62,390 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BWW Law Group, LLC | Conventional home mortgage | Struggling to pay mortgage | 3 | 75.0% |
| BWW Law Group, LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 25.0% |