Alcova Mortgage Rates, Fees & Info

ROANOKE, VA

LEI: 549300RYBJHWWDENV610

Tax ID: 14-1886719

5 stars - Updated: 4/5/25 - out of 5 stars, based on 71 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
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    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Alcova Mortgage is a small mortgage company specializing in Home Purchase loans. Alcova Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Richmond, Washington, Charlotte, Roanoke, and Raleigh among others. We have data for 173 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Alcova Mortgage 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. Alcova Mortgage 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.

    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 7.10% 4/5/25
    30 Year Conventional Refi 7.23% 4/5/25
    30 Year FHA Purchase 7.45% 4/5/25
    30 Year FHA Refi 7.49% 4/5/25
    30 Year VA Purchase 6.63% 4/5/25
    30 Year VA Refi 6.43% 4/5/25
    30 Year USDA Purchase 7.29% 4/5/25
    30 Year USDA Refi 7.13% 4/5/25
    15 Year Conventional Purchase 3.45% 4/5/25
    15 Year Conventional Refi 7.34% 4/5/25
    15 Year Cash-out Refi 7.34% 4/5/25
    15 Year FHA Purchase 8.87% 4/5/25
    15 Year VA Refi 7.25% 4/5/25
    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.

    Alcova Mortgage Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Alcova Mortgage. 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

    5,044

    Origination Dollar Volume (All Markets)

    $1,436,010,000
    Show all (54) awards

    Relative Rate

    Alcova Mortgage's average 30 year fixed mortgage rate was 6.8%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.25%.

    Relative Fees (Closing Costs)

    Alcova Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $5,753.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    RICHMOND, VA (FHA|USDA|VA) 484 $170,280,000 $351,818 $5,559 6.80%
    Outside of Metro Areas 748 $160,120,000 $214,064 $4,559 6.87%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 205 $99,455,000 $485,146 $8,105 6.51%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 301 $92,845,000 $308,455 $6,915 6.78%
    ROANOKE, VA (FHA|USDA|VA) 263 $72,995,000 $277,548 $4,725 6.83%
    RALEIGH-CARY, NC (FHA|USDA|VA) 170 $62,980,000 $370,471 $5,827 6.69%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 168 $56,950,000 $338,988 $7,052 6.85%
    LYNCHBURG, VA (FHA|USDA|VA) 213 $56,735,000 $266,362 $5,000 6.98%
    STAUNTON, VA (FHA|USDA|VA) 189 $47,805,000 $252,937 $4,779 7.09%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 121 $44,695,000 $369,380 $6,908 6.62%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 167 $43,765,000 $262,066 $5,591 6.75%
    FAYETTEVILLE, NC (FHA|USDA|VA) 114 $29,970,000 $262,895 $7,165 6.35%
    GREENVILLE, NC (FHA|USDA|VA) 105 $25,945,000 $247,095 $6,107 6.59%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 156 $25,280,000 $162,051 $4,263 6.99%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 86 $23,720,000 $275,814 $6,963 6.84%
    Danville, VA (FHA|USDA|VA) 112 $22,110,000 $197,411 $5,162 6.74%
    ASHEVILLE, NC (FHA|USDA|VA) 66 $21,100,000 $319,697 $5,259 6.92%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 67 $17,255,000 $257,537 $6,850 6.83%
    Martinsville, VA (FHA|USDA|VA) 95 $17,075,000 $179,737 $3,695 6.85%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 41 $15,445,000 $376,707 $6,246 6.56%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 41 $15,085,000 $367,927 $5,482 6.62%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 39 $14,415,000 $369,615 $8,747 6.58%
    HARRISONBURG, VA (FHA|USDA|VA) 48 $13,760,000 $286,667 $6,065 7.04%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 37 $12,645,000 $341,757 $3,810 6.66%
    WILMINGTON, NC (FHA|USDA|VA) 33 $12,625,000 $382,576 $7,614 6.76%
    WARNER ROBINS, GA (FHA|USDA|VA) 50 $11,600,000 $232,000 $7,394 6.60%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 36 $11,280,000 $313,333 $6,069 7.14%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 26 $11,100,000 $426,923 $8,275 6.44%
    LANCASTER, PA (FHA|USDA|VA) 39 $11,015,000 $282,436 $6,310 6.83%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 44 $10,240,000 $232,727 $5,075 6.71%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 23 $10,145,000 $441,087 $6,777 6.74%
    JACKSONVILLE, FL (FHA|USDA|VA) 34 $9,380,000 $275,882 $6,982 6.24%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 24 $7,790,000 $324,583 $5,101 6.54%
    YORK-HANOVER, PA (FHA|USDA|VA) 28 $7,440,000 $265,714 $6,462 6.51%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 14 $6,400,000 $457,143 $9,543 6.37%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 34 $6,320,000 $185,882 $5,841 6.80%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 13 $5,325,000 $409,615 $6,609 6.43%
    Wooster, OH (FHA|USDA|VA) 25 $5,015,000 $200,600 $6,615 6.78%
    WINSTON-SALEM, NC (FHA|USDA|VA) 19 $4,925,000 $259,211 $6,338 6.46%
    North Wilkesboro, NC (FHA|USDA|VA) 20 $4,440,000 $222,000 $4,948 6.98%
    WINCHESTER, VA-WV (FHA|USDA|VA) 16 $4,180,000 $261,250 $6,556 6.93%
    Morehead City, NC (FHA|USDA|VA) 9 $4,155,000 $461,667 $7,286 7.19%
    Washington, NC (FHA|USDA|VA) 15 $3,765,000 $251,000 $5,648 7.05%
    BECKLEY, WV (FHA|USDA|VA) 18 $3,600,000 $200,000 $4,617 6.98%
    Albemarle, NC (FHA|USDA|VA) 13 $3,545,000 $272,692 $7,367 6.82%
    AKRON, OH (FHA|USDA|VA) 18 $3,490,000 $193,889 $5,847 6.80%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 13 $3,485,000 $268,077 $3,917 6.91%
    ROCKY MOUNT, NC (FHA|USDA|VA) 15 $3,395,000 $226,333 $6,033 6.34%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 13 $3,275,000 $251,923 $6,211 6.55%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 14 $3,210,000 $229,286 $4,437 6.96%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $3,110,000 $777,500 $11,273 7.28%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 13 $3,005,000 $231,154 $7,385 6.76%
    Lumberton, NC (FHA|USDA|VA) 15 $2,915,000 $194,333 $4,115 6.52%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 8 $2,830,000 $353,750 $7,558 6.88%
    Sanford, NC (FHA|USDA|VA) 9 $2,705,000 $300,556 $6,987 6.56%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 10 $2,590,000 $259,000 $6,126 7.21%
    COLUMBIA, SC (FHA|USDA|VA) 10 $2,420,000 $242,000 $5,415 6.82%
    FLORENCE, SC (FHA|USDA|VA) 9 $2,365,000 $262,778 $3,956 6.51%
    JACKSONVILLE, NC (FHA|USDA|VA) 8 $2,300,000 $287,500 $7,248 6.44%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 15 $2,255,000 $150,333 $5,047 6.75%
    Shelby, NC (FHA|USDA|VA) 10 $2,250,000 $225,000 $7,950 6.39%
    Bluefield, WV-VA (FHA|USDA|VA) 13 $2,245,000 $172,692 $3,792 6.76%
    Forest City, NC (FHA|USDA|VA) 7 $2,175,000 $310,714 $6,937 7.17%
    Seneca, SC (FHA|USDA|VA) 2 $2,150,000 $1,075,000 $18,687 6.50%
    SPARTANBURG, SC (FHA|USDA|VA) 7 $2,145,000 $306,429 $4,035 6.60%
    NEW BERN, NC (FHA|USDA|VA) 6 $2,120,000 $353,333 $6,885 6.79%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $1,935,000 $276,429 $5,401 7.04%
    GOLDSBORO, NC (FHA|USDA|VA) 9 $1,895,000 $210,556 $7,005 6.80%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $1,850,000 $308,333 $6,693 6.98%
    Kinston, NC (FHA|USDA|VA) 8 $1,820,000 $227,500 $5,265 6.52%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 7 $1,805,000 $257,857 $7,825 6.80%
    Dublin, GA (FHA|USDA|VA) 9 $1,745,000 $193,889 $5,703 6.53%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 8 $1,700,000 $212,500 $8,667 7.00%
    Boone, NC (FHA|USDA|VA) 5 $1,635,000 $327,000 $4,720 6.75%
    OCALA, FL (FHA|USDA|VA) 8 $1,530,000 $191,250 $3,397 6.25%
    BURLINGTON, NC (FHA|USDA|VA) 6 $1,480,000 $246,667 $5,404 6.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,445,000 $481,667 $9,926 6.62%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 4 $1,340,000 $335,000 $6,609 7.34%
    Wilson, NC (FHA|USDA|VA) 8 $1,280,000 $160,000 $5,094 7.09%
    Pottsville, PA (FHA|USDA|VA) 8 $1,270,000 $158,750 $5,043 7.09%
    GAINESVILLE, FL (FHA|USDA|VA) 6 $1,210,000 $201,667 $3,929 7.83%
    Laurinburg, NC (FHA|USDA|VA) 5 $1,185,000 $237,000 $5,172 6.60%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 5 $1,175,000 $235,000 $5,181 6.82%
    Brevard, NC (FHA|USDA|VA) 3 $1,105,000 $368,333 $13,031 6.96%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 6 $1,060,000 $176,667 $3,310 6.75%
    Cullowhee, NC (FHA|USDA|VA) 3 $1,045,000 $348,333 $7,814 6.96%
    Nacogdoches, TX (FHA|USDA|VA) 2 $990,000 $495,000 $7,795 6.88%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $960,000 $480,000 $9,423 6.69%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $955,000 $955,000 $9,187 7.50%
    Marion, NC (FHA|USDA|VA) 3 $955,000 $318,333 $1,479 7.12%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 5 $935,000 $187,000 $5,297 6.38%
    PITTSBURGH, PA (FHA|USDA|VA) 5 $895,000 $179,000 $6,160 6.80%
    Roanoke Rapids, NC (FHA|USDA|VA) 3 $895,000 $298,333 $7,247 6.67%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 3 $865,000 $288,333 $11,043 6.17%
    Mount Airy, NC (FHA|USDA|VA) 5 $845,000 $169,000 $6,761 6.43%
    BOWLING GREEN, KY (FHA|USDA|VA) 2 $740,000 $370,000 $3,372 5.94%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 3 $655,000 $218,333 $2,281 7.12%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 3 $655,000 $218,333 $8,674 6.46%
    Cambridge, MD (FHA|USDA|VA) 1 $645,000 $645,000 $13,101 6.49%
    SUMTER, SC (FHA|USDA|VA) 3 $605,000 $201,667 $5,098 6.79%
    Vidalia, GA (FHA|USDA|VA) 2 $580,000 $290,000 $3,344 6.69%
    KNOXVILLE, TN (FHA|USDA|VA) 2 $570,000 $285,000 $9,825 7.06%
    Bennettsville, SC (FHA|USDA|VA) 4 $560,000 $140,000 $3,602 7.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $550,000 $275,000 $7,543 6.94%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $525,000 $525,000 $25,518 5.25%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $520,000 $260,000 $2,474 7.06%
    Kill Devil Hills, NC (FHA|USDA|VA) 2 $500,000 $250,000 $6,375 6.87%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $500,000 $250,000 $5,798 7.43%
    Van Wert, OH (FHA|USDA|VA) 2 $470,000 $235,000 $3,622 6.63%
    Easton, MD (FHA|USDA|VA) 1 $465,000 $465,000 $4,504 7.13%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $465,000 $465,000 $9,811 6.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $445,000 $445,000 $6,275 6.88%
    Sevierville, TN (FHA|USDA|VA) 1 $435,000 $435,000 $0 6.88%
    COLUMBUS, OH (FHA|USDA|VA) 1 $435,000 $435,000 $9,457 7.49%
    Rockport, TX (FHA|USDA|VA) 1 $425,000 $425,000 $12,439 7.50%
    JOHNSON CITY, TN (FHA|USDA|VA) 2 $420,000 $210,000 $3,230 7.31%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $405,000 $405,000 $11,324 7.13%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $395,000 $395,000 $7,375 7.13%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,434 6.50%
    Clarksburg, WV (FHA|USDA|VA) 1 $385,000 $385,000 $9,259 6.13%
    MIDLAND, TX (FHA|USDA|VA) 1 $385,000 $385,000 $3,548 6.62%
    Crossville, TN (FHA|USDA|VA) 2 $380,000 $190,000 $12,548 7.25%
    READING, PA (FHA|USDA|VA) 1 $375,000 $375,000 $7,948 6.88%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $375,000 $375,000 $500 7.99%
    DOTHAN, AL (FHA|USDA|VA) 1 $355,000 $355,000 $8,508 6.25%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $355,000 $355,000 $20,053 5.63%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $350,000 $175,000 $3,691 6.38%
    Cedartown, GA (FHA|USDA|VA) 2 $340,000 $170,000 $6,316 6.12%
    El Campo, TX (FHA|USDA|VA) 1 $335,000 $335,000 $17,545 6.25%
    Henderson, NC (FHA|USDA|VA) 1 $335,000 $335,000 $12,881 5.75%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $320,000 $160,000 $3,307 6.99%
    Gaffney, SC (FHA|USDA|VA) 1 $305,000 $305,000 $12,307 6.25%
    Orangeburg, SC (FHA|USDA|VA) 1 $305,000 $305,000 $3,682 6.50%
    HINESVILLE, GA (FHA|USDA|VA) 2 $300,000 $150,000 $5,859 6.69%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $295,000 $295,000 $7,113 6.88%
    Clewiston, FL (FHA|USDA|VA) 1 $285,000 $285,000 $6,949 5.75%
    Ashtabula, OH (FHA|USDA|VA) 2 $280,000 $140,000 $4,330 6.38%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $275,000 $275,000 $5,169 6.88%
    Gainesville, TX (FHA|USDA|VA) 1 $275,000 $275,000 $14,849 6.25%
    TOLEDO, OH (FHA|USDA|VA) 2 $270,000 $135,000 $7,231 6.88%
    Rockingham, NC (FHA|USDA|VA) 1 $265,000 $265,000 $6,988 6.13%
    VALDOSTA, GA (FHA|USDA|VA) 1 $265,000 $265,000 $7,546 5.75%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $245,000 $245,000 $6,163 6.88%
    Milledgeville, GA (FHA|USDA|VA) 1 $245,000 $245,000 $8,123 6.75%
    Tifton, GA (FHA|USDA|VA) 1 $245,000 $245,000 $231 6.13%
    Elkins, WV (FHA|USDA|VA) 1 $245,000 $245,000 $5,390 7.99%
    Lake City, FL (FHA|USDA|VA) 1 $235,000 $235,000 $6,844 7.63%
    Bucyrus-Galion, OH (FHA|USDA|VA) 1 $235,000 $235,000 $10,138 7.13%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $225,000 $225,000 $3,784 7.25%
    Calhoun, GA (FHA|USDA|VA) 1 $225,000 $225,000 $1,023 6.88%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $205,000 $205,000 $4,112 6.99%
    LEBANON, PA (FHA|USDA|VA) 1 $205,000 $205,000 $4,762 6.50%
    GETTYSBURG, PA (FHA|USDA|VA) 1 $205,000 $205,000 $5,979 7.25%
    Marietta, OH (FHA|USDA|VA) 1 $205,000 $205,000 $3,102 5.99%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $195,000 $195,000 $0 6.49%
    Uvalde, TX (FHA|USDA|VA) 1 $185,000 $185,000 $6,025 6.75%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $175,000 $175,000 $10,538 6.99%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $165,000 $165,000 $6,392 6.88%
    Wapakoneta, OH (FHA|USDA|VA) 1 $165,000 $165,000 $2,761 6.75%
    Coshocton, OH (FHA|USDA|VA) 1 $155,000 $155,000 $10,333 6.75%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $155,000 $155,000 $9,877 6.75%
    Lawrenceburg, TN (FHA|USDA|VA) 1 $155,000 $155,000 $2,660 7.13%
    ALTOONA, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,039 7.13%
    Newport, TN (FHA|USDA|VA) 1 $145,000 $145,000 $6,474 6.99%
    Toccoa, GA (FHA|USDA|VA) 1 $145,000 $145,000 $2,643 6.50%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $135,000 $135,000 $9,175 5.75%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $125,000 $125,000 $8,428 7.25%
    COLUMBUS, GA-AL (FHA|USDA|VA) 1 $115,000 $115,000 $6,916 8.25%
    Georgetown, SC (FHA|USDA|VA) 1 $105,000 $105,000 $3,225 6.49%
    Fort Payne, AL (FHA|USDA|VA) 1 $95,000 $95,000 $7,892 6.25%
    Somerset, PA (FHA|USDA|VA) 1 $95,000 $95,000 $2,006 6.88%
    ALBANY, GA (FHA|USDA|VA) 1 $65,000 $65,000 $2,795 7.63%
    CHARLESTON, WV (FHA|USDA|VA) 1 $45,000 $45,000 $3,770 6.49%
    Alcova Mortgage's top markets include Richmond, Washington, Charlotte, Roanoke, and Raleigh among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,976 $854,410,000 $287,100 $4,567 6.91%
    FHA 1,227 $326,315,000 $265,945 $7,882 6.66%
    VA 516 $196,900,000 $381,589 $8,029 6.39%
    USDA 325 $58,385,000 $179,646 $3,664 6.76%

    For 2024, Alcova Mortgage's most frequently originated type of loan was Conventional, with 2,976 originations. Their 2nd most popular type was FHA, with 1,227 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4,459 $1,279,495,000 $286,947 $5,543 6.78%
    Refi 585 $156,515,000 $267,547 $7,336 6.83%

    For 2024, Alcova Mortgage's most frequently cited loan purpose was Home Purchase, with 4,459 originations. The 2nd most popular reason was Refi, with 585 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,943 $1,414,955,000 $286,254 $5,753 6.80%
    15 Year 50 $10,800,000 $216,000 $4,425 5.30%
    20 Year 36 $6,990,000 $194,167 $4,937 7.19%
    Other 10 $2,820,000 $282,000 $7,233 7.10%
    10 Year 4 $360,000 $90,000 $3,415 8.34%
    1 Year 1 $85,000 $85,000 $0 9.50%

    For 2024, Alcova Mortgage's most frequently cited loan duration was 30 Year, with 4,943 originations. The 2nd most popular length was 15 Year, with 50 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,961 $514,645,000 $262,440
    $1k-2k 980 $317,610,000 $324,092
    $5k+ 584 $232,400,000 $397,945
    $2k-3k 485 $107,585,000 $221,825
    $3k-4k 402 $97,700,000 $243,035
    $4k-5k 347 $104,655,000 $301,599

    Alcova Mortgage's average total fees were $5,753, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,961 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 2,985 $858,055,000 $287,456
    7-8% 1,508 $410,340,000 $272,109
    5-6% 439 $143,895,000 $327,779
    Over 8% 75 $16,345,000 $217,933
    4-5% 21 $7,125,000 $339,286
    <2.5% 16 $250,000 $15,625

    During 2024, Alcova Mortgage's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 6-7%, with 2,985 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,669 $765,895,000 $286,960 $6,034 6.77%
    $100k-200k 1,251 $193,175,000 $154,416 $4,097 6.90%
    $400k-600k 598 $284,760,000 $476,187 $7,753 6.71%
    $100,000 or less 295 $19,205,000 $65,102 $2,718 6.64%
    $600k-1MM 212 $149,240,000 $703,962 $8,260 6.70%
    $1MM+ 19 $23,735,000 $1,249,211 $17,038 6.64%

    2024 saw Alcova Mortgage place emphasis on $200k-400k loans with 2,669 originations, totaling $765,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,167 $244,655,000 $209,644 $4,805 6.74%
    $100k-150k 1,103 $350,495,000 $317,765 $6,485 6.80%
    $75k-100k 1,046 $272,340,000 $260,363 $5,806 6.72%
    $150k-250k 711 $294,055,000 $413,579 $7,092 6.87%
    $50k or less 706 $122,010,000 $172,819 $4,057 6.77%
    $250k+ 287 $144,585,000 $503,780 $7,039 6.99%

    Alcova Mortgage lent most frequently to those with incomes in the $50k-75k range, with 1,167 originations. The second most popular income band? $100k-150k, with 1,103 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 712 $201,170,000 $282,542 $5,226 6.82%
    20-30% 619 $160,665,000 $259,556 $4,728 6.85%
    50-60% 437 $140,975,000 $322,597 $8,701 6.53%
    49% 300 $90,570,000 $301,900 $5,974 6.76%
    44% 235 $68,305,000 $290,660 $5,367 6.74%
    43% 227 $64,545,000 $284,339 $5,634 6.78%
    40% 225 $58,485,000 $259,933 $5,494 6.73%
    42% 222 $67,510,000 $304,099 $5,468 6.88%
    47% 216 $66,420,000 $307,500 $6,333 6.78%
    38% 210 $58,360,000 $277,905 $5,093 6.79%
    39% 206 $57,230,000 $277,816 $5,559 6.86%
    48% 203 $58,565,000 $288,498 $5,758 6.79%
    45% 199 $60,105,000 $302,035 $6,493 6.81%
    37% 194 $54,140,000 $279,072 $5,461 6.82%
    46% 193 $56,165,000 $291,010 $5,664 6.75%
    <20% 171 $37,785,000 $220,965 $4,465 6.79%
    41% 156 $46,320,000 $296,923 $5,489 6.74%
    36% 148 $38,740,000 $261,757 $4,880 6.80%
    >60% 110 $24,550,000 $223,182 $8,068 7.62%

    Alcova Mortgage lent most frequently to those with DTI ratios of 30-36%, with 712 originations. The next most common DTI ratio? 20-30%, with 619 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,725 $1,044,765,000 $280,474 $5,557 6.80%
    Not provided 665 $204,505,000 $307,526 $6,408 6.83%
    Black 442 $118,910,000 $269,027 $6,082 6.66%
    Asian 171 $56,225,000 $328,801 $6,332 6.72%
    American Indian 38 $10,360,000 $272,632 $5,835 6.68%
    Native Hawaiian or Islander 3 $1,245,000 $415,000 $8,641 7.00%

    Approval Rates

    Total approvals of all applications
    96.37%

    Alcova Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    79.68%

    Alcova Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,044 $1,436,010,000 $284,697

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,044 $1,436,010,000 $284,697

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 139 $21,955,000 $157,950 $4,113 6.71%
    40-60% 331 $82,615,000 $249,592 $4,912 6.80%
    60-80% 1,157 $335,545,000 $290,013 $5,653 6.98%
    80-100% 3,204 $941,820,000 $293,951 $5,723 6.76%
    Over 100% 142 $52,190,000 $367,535 $12,229 6.40%
    Under 20% 71 $1,885,000 $26,549 $898 5.60%