Alcova Mortgage Rates, Fees & Info

ROANOKE, VA

LEI: 549300RYBJHWWDENV610

Tax ID: 14-1886719

5 stars - out of 5 stars, based on 106 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Alcova Mortgage is a small mortgage company specializing in Home Purchase and Refi loans. Alcova Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Richmond, Raleigh, Virginia Beach, Charlotte, and Roanoke among others. We have data for 152 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 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 6.93% 12/4/22
    30 Year Conventional Refi 6.89% 12/4/22
    30 Year FHA Purchase 7.81% 12/4/22
    30 Year FHA Refi 7.60% 12/4/22
    30 Year VA Purchase 6.77% 12/4/22
    30 Year VA Refi 6.48% 12/4/22
    30 Year USDA Purchase 7.19% 12/4/22
    30 Year USDA Refi 7.13% 12/4/22
    15 Year Conventional Purchase 6.12% 12/4/22
    15 Year Conventional Refi 6.26% 12/4/22
    15 Year Cash-out Refi 6.26% 12/4/22
    15 Year FHA Purchase 7.60% 12/4/22
    15 Year FHA Refi 7.53% 12/4/22
    15 Year VA Refi 6.20% 12/4/22
    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.


    Originations

    11,241

    Origination Dollar Volume (All Markets)

    $2,597,625,000
    Show all (62) awards

    Relative Rate

    Alcova Mortgage's average 30 year fixed mortgage rate was 3.12%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.03%.

    Relative Fees (Closing Costs)

    Alcova Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $3,927.

    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 $4,750.

    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) 1,585 $423,565,000 $267,233 $3,991 3.09%
    Outside of Metro Areas 1,534 $280,080,000 $182,581 $3,375 3.11%
    RALEIGH-CARY, NC (FHA|USDA|VA) 672 $192,560,000 $286,548 $3,731 2.95%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 656 $174,820,000 $266,494 $5,007 3.09%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 589 $144,805,000 $245,849 $3,915 3.13%
    ROANOKE, VA (FHA|USDA|VA) 711 $144,085,000 $202,651 $3,071 3.04%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 335 $108,755,000 $324,642 $5,002 3.00%
    GREENVILLE, NC (FHA|USDA|VA) 472 $101,120,000 $214,237 $4,190 2.95%
    STAUNTON, VA (FHA|USDA|VA) 470 $99,860,000 $212,468 $3,411 3.20%
    ASHEVILLE, NC (FHA|USDA|VA) 362 $95,110,000 $262,735 $3,232 3.10%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 314 $83,430,000 $265,701 $4,443 3.13%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 335 $77,765,000 $232,134 $3,207 2.98%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 241 $49,275,000 $204,461 $3,524 3.10%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 163 $43,175,000 $264,877 $3,708 3.03%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 174 $31,890,000 $183,276 $3,799 3.10%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 98 $28,780,000 $293,673 $3,387 2.80%
    LYNCHBURG, VA (FHA|USDA|VA) 129 $27,825,000 $215,698 $3,448 3.03%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 202 $27,740,000 $137,327 $2,944 3.35%
    Danville, VA (FHA|USDA|VA) 170 $27,600,000 $162,353 $3,694 3.26%
    WINCHESTER, VA-WV (FHA|USDA|VA) 98 $25,400,000 $259,184 $4,256 3.03%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 108 $23,560,000 $218,148 $3,226 3.22%
    FAYETTEVILLE, NC (FHA|USDA|VA) 111 $23,235,000 $209,324 $4,490 3.04%
    Martinsville, VA (FHA|USDA|VA) 147 $19,985,000 $135,952 $2,989 3.18%
    JACKSONVILLE, FL (FHA|USDA|VA) 78 $19,590,000 $251,154 $5,812 3.29%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 64 $18,590,000 $290,469 $5,035 3.19%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 67 $17,645,000 $263,358 $4,372 2.93%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 65 $17,325,000 $266,538 $3,522 3.13%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 107 $16,165,000 $151,075 $4,361 3.16%
    North Wilkesboro, NC (FHA|USDA|VA) 77 $13,475,000 $175,000 $3,043 3.16%
    Sanford, NC (FHA|USDA|VA) 68 $13,080,000 $192,353 $3,821 3.21%
    Morehead City, NC (FHA|USDA|VA) 41 $12,785,000 $311,829 $4,547 3.02%
    BURLINGTON, NC (FHA|USDA|VA) 59 $12,535,000 $212,458 $3,759 3.10%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 42 $12,190,000 $290,238 $4,390 2.98%
    HUNTSVILLE, AL (FHA|USDA|VA) 53 $11,945,000 $225,377 $3,243 3.01%
    Washington, NC (FHA|USDA|VA) 51 $10,245,000 $200,882 $3,857 2.93%
    WINSTON-SALEM, NC (FHA|USDA|VA) 46 $9,890,000 $215,000 $3,764 3.18%
    WILMINGTON, NC (FHA|USDA|VA) 33 $9,445,000 $286,212 $4,444 3.17%
    HARRISONBURG, VA (FHA|USDA|VA) 41 $8,025,000 $195,732 $2,813 3.15%
    Kill Devil Hills, NC (FHA|USDA|VA) 21 $7,555,000 $359,762 $4,477 2.98%
    SPARTANBURG, SC (FHA|USDA|VA) 33 $7,155,000 $216,818 $3,311 3.15%
    YORK-HANOVER, PA (FHA|USDA|VA) 28 $5,540,000 $197,857 $4,703 3.09%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 18 $5,240,000 $291,111 $6,000 3.02%
    ROCKY MOUNT, NC (FHA|USDA|VA) 27 $4,975,000 $184,259 $3,890 3.10%
    Wilson, NC (FHA|USDA|VA) 26 $4,950,000 $190,385 $3,711 2.97%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 23 $4,835,000 $210,217 $4,040 2.91%
    Boone, NC (FHA|USDA|VA) 17 $4,575,000 $269,118 $3,646 2.97%
    NEW BERN, NC (FHA|USDA|VA) 22 $4,340,000 $197,273 $4,326 2.96%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 12 $4,280,000 $356,667 $5,831 3.07%
    Albemarle, NC (FHA|USDA|VA) 21 $4,255,000 $202,619 $4,696 3.23%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 17 $4,135,000 $243,235 $4,391 3.10%
    GOLDSBORO, NC (FHA|USDA|VA) 24 $3,780,000 $157,500 $3,910 3.14%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 10 $2,940,000 $294,000 $4,837 3.01%
    BECKLEY, WV (FHA|USDA|VA) 19 $2,895,000 $152,368 $3,212 3.03%
    Bluefield, WV-VA (FHA|USDA|VA) 18 $2,860,000 $158,889 $3,175 3.13%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 11 $2,765,000 $251,364 $4,467 2.87%
    OCALA, FL (FHA|USDA|VA) 12 $2,670,000 $222,500 $5,722 2.82%
    Brevard, NC (FHA|USDA|VA) 7 $2,165,000 $309,286 $3,712 3.03%
    Roanoke Rapids, NC (FHA|USDA|VA) 10 $2,130,000 $213,000 $4,372 3.11%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 15 $2,115,000 $141,000 $6,364 3.27%
    Seneca, SC (FHA|USDA|VA) 8 $2,040,000 $255,000 $3,992 3.25%
    Forest City, NC (FHA|USDA|VA) 10 $1,980,000 $198,000 $3,207 2.84%
    Shelby, NC (FHA|USDA|VA) 11 $1,955,000 $177,727 $2,815 2.94%
    COLUMBIA, SC (FHA|USDA|VA) 12 $1,910,000 $159,167 $4,336 3.20%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $1,820,000 $303,333 $5,977 3.23%
    Elizabeth City, NC (FHA|USDA|VA) 7 $1,575,000 $225,000 $4,893 2.95%
    Jefferson, GA (FHA|USDA|VA) 4 $1,520,000 $380,000 $3,626 2.81%
    Kinston, NC (FHA|USDA|VA) 8 $1,450,000 $181,250 $3,826 2.97%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $1,430,000 $357,500 $4,728 2.94%
    GAINESVILLE, GA (FHA|USDA|VA) 5 $1,325,000 $265,000 $4,232 2.95%
    Georgetown, SC (FHA|USDA|VA) 5 $1,295,000 $259,000 $4,089 2.90%
    JACKSONVILLE, NC (FHA|USDA|VA) 8 $1,280,000 $160,000 $3,792 3.06%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 8 $1,260,000 $157,500 $2,522 3.23%
    Marion, NC (FHA|USDA|VA) 5 $1,235,000 $247,000 $4,103 2.80%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $1,230,000 $307,500 $3,025 2.69%
    Pottsville, PA (FHA|USDA|VA) 11 $1,205,000 $109,545 $4,327 3.03%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 7 $1,145,000 $163,571 $3,353 3.10%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 5 $1,085,000 $217,000 $3,986 3.13%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $985,000 $328,333 $5,719 3.54%
    FLORENCE, SC (FHA|USDA|VA) 8 $970,000 $121,250 $4,397 3.39%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 4 $910,000 $227,500 $4,269 3.16%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 6 $870,000 $145,000 $3,641 3.06%
    SAVANNAH, GA (FHA|USDA|VA) 5 $855,000 $171,000 $3,416 3.03%
    KNOXVILLE, TN (FHA|USDA|VA) 6 $790,000 $131,667 $4,621 3.23%
    LANCASTER, PA (FHA|USDA|VA) 3 $785,000 $261,667 $4,551 3.00%
    Cedartown, GA (FHA|USDA|VA) 4 $730,000 $182,500 $4,710 3.34%
    Lumberton, NC (FHA|USDA|VA) 4 $720,000 $180,000 $3,328 2.88%
    Somerset, PA (FHA|USDA|VA) 6 $690,000 $115,000 $2,558 3.73%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $680,000 $170,000 $4,551 2.94%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $605,000 $201,667 $3,111 3.08%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $600,000 $300,000 $4,772 2.50%
    VALDOSTA, GA (FHA|USDA|VA) 4 $590,000 $147,500 $2,906 3.19%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 4 $570,000 $142,500 $2,837 3.19%
    Cornelia, GA (FHA|USDA|VA) 3 $565,000 $188,333 $3,820 3.17%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $560,000 $280,000 $4,864 3.06%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $515,000 $515,000 $9,035 2.75%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $500,000 $250,000 $4,984 3.44%
    Rockingham, NC (FHA|USDA|VA) 4 $490,000 $122,500 $2,943 3.28%
    DECATUR, AL (FHA|USDA|VA) 3 $475,000 $158,333 $2,620 3.04%
    Henderson, NC (FHA|USDA|VA) 3 $465,000 $155,000 $2,649 2.96%
    Mount Airy, NC (FHA|USDA|VA) 3 $455,000 $151,667 $1,812 2.75%
    Greenwood, SC (FHA|USDA|VA) 1 $455,000 $455,000 $9,336 2.99%
    WARNER ROBINS, GA (FHA|USDA|VA) 2 $440,000 $220,000 $3,011 3.06%
    Calhoun, GA (FHA|USDA|VA) 2 $440,000 $220,000 $4,768 2.81%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $440,000 $220,000 $7,056 3.12%
    MORGANTOWN, WV (FHA|USDA|VA) 3 $425,000 $141,667 $2,189 3.42%
    CHARLESTON, WV (FHA|USDA|VA) 2 $390,000 $195,000 $2,689 3.06%
    ROME, GA (FHA|USDA|VA) 2 $380,000 $190,000 $3,518 3.13%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $360,000 $180,000 $3,844 3.75%
    Gaffney, SC (FHA|USDA|VA) 2 $360,000 $180,000 $5,644 3.19%
    LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $355,000 $355,000 $553 3.00%
    MORRISTOWN, TN (FHA|USDA|VA) 2 $350,000 $175,000 $2,056 3.25%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $345,000 $345,000 $8,829 2.88%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $335,000 $335,000 $3,215 3.99%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $305,000 $305,000 $15,831 2.88%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $300,000 $150,000 $2,772 3.13%
    JOHNSON CITY, TN (FHA|USDA|VA) 2 $300,000 $150,000 $4,162 3.63%
    COLUMBUS, GA-AL (FHA|USDA|VA) 2 $290,000 $145,000 $2,194 3.63%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $275,000 $275,000 $3,753 3.13%
    MIDLAND, TX (FHA|USDA|VA) 1 $265,000 $265,000 $2,446 2.88%
    Americus, GA (FHA|USDA|VA) 1 $265,000 $265,000 $3,305 2.88%
    CLEVELAND, TN (FHA|USDA|VA) 2 $250,000 $125,000 $7,340 3.38%
    HINESVILLE, GA (FHA|USDA|VA) 1 $235,000 $235,000 $3,344 2.88%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $225,000 $225,000 $4,925 2.25%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $225,000 $225,000 $4,663 2.99%
    Lewisburg, TN (FHA|USDA|VA) 1 $205,000 $205,000 $5,038 3.63%
    WHEELING, WV-OH (FHA|USDA|VA) 1 $205,000 $205,000 $2,852 3.75%
    Big Stone Gap, VA (FHA|USDA|VA) 2 $190,000 $95,000 $2,674 3.31%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $175,000 $175,000 $3,280 3.63%
    GETTYSBURG, PA (FHA|USDA|VA) 1 $175,000 $175,000 $4,686 2.88%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,590 2.88%
    Mount Gay-Shamrock, WV (FHA|USDA|VA) 1 $175,000 $175,000 $7,433 3.38%
    Statesboro, GA (FHA|USDA|VA) 1 $175,000 $175,000 $519 2.63%
    Athens, TN (FHA|USDA|VA) 1 $165,000 $165,000 $3,321 3.50%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $165,000 $165,000 $9,270 3.13%
    Thomasville, GA (FHA|USDA|VA) 1 $165,000 $165,000 $3,846 4.13%
    Greeneville, TN (FHA|USDA|VA) 1 $155,000 $155,000 $6,663 3.00%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $155,000 $155,000 $3,427 3.25%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $155,000 $155,000 $5,895 2.88%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $135,000 $135,000 $1,461 3.25%
    Laurinburg, NC (FHA|USDA|VA) 1 $135,000 $135,000 $1,973 3.13%
    Sevierville, TN (FHA|USDA|VA) 1 $135,000 $135,000 $9,266 3.25%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $125,000 $125,000 $8,801 3.75%
    Lawrenceburg, TN (FHA|USDA|VA) 1 $125,000 $125,000 $5,516 3.13%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $125,000 $125,000 $6,085 3.13%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,833 3.88%
    Bennettsville, SC (FHA|USDA|VA) 1 $115,000 $115,000 $7,864 3.38%
    Alexander City, AL (FHA|USDA|VA) 1 $105,000 $105,000 $4,099 4.38%
    Palatka, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,107 3.00%
    Newport, TN (FHA|USDA|VA) 1 $105,000 $105,000 $5,076 3.00%
    Cullman, AL (FHA|USDA|VA) 1 $105,000 $105,000 $4,649 3.00%
    Orangeburg, SC (FHA|USDA|VA) 1 $95,000 $95,000 $5,133 2.88%
    Fairmont, WV (FHA|USDA|VA) 1 $35,000 $35,000 $3,343 2.88%
    Alcova Mortgage's top markets include Richmond, Raleigh, Virginia Beach, Charlotte, and Roanoke among others.

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

    We use machine learning to identify the top lenders compared against Alcova Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    POINT BREEZE
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 7,638 $1,805,660,000 $236,405 $3,167 3.09%
    FHA 1,747 $362,495,000 $207,496 $5,792 3.17%
    USDA 1,023 $174,895,000 $170,963 $3,250 3.06%
    VA 833 $254,575,000 $305,612 $6,308 2.89%

    For 2021, Alcova Mortgage's most frequently originated type of loan was Conventional, with 7,638 originations. Their 2nd most popular type was FHA, with 1,747 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 6,899 $1,629,325,000 $236,168 $3,935 3.14%
    Refi 4,342 $968,300,000 $223,008 $3,640 2.99%

    For 2021, Alcova Mortgage's most frequently cited loan purpose was Home Purchase, with 6,899 originations. The 2nd most popular reason was Refi, with 4,342 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 9,914 $2,346,540,000 $236,690 $3,927 3.12%
    15 Year 826 $157,620,000 $190,823 $3,068 2.62%
    20 Year 292 $59,620,000 $204,178 $3,252 2.95%
    Other 128 $25,750,000 $201,172 $2,964 2.99%
    10 Year 81 $8,095,000 $99,938 $2,000 3.57%

    For 2021, Alcova Mortgage's most frequently cited loan duration was 30 Year, with 9,914 originations. The 2nd most popular length was 15 Year, with 826 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 4,951 $1,147,865,000 $231,845
    $<1k 4,524 $1,001,740,000 $221,428
    $2k-3k 902 $204,180,000 $226,364
    $3k-4k 453 $115,935,000 $255,927
    $4k-5k 172 $51,540,000 $299,651
    $5k+ 154 $62,610,000 $406,558

    Alcova Mortgage's average total fees were $3,927, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4,951 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 5,212 $1,132,950,000 $217,373
    2.5-3% 4,891 $1,201,145,000 $245,583
    <2.5% 898 $225,480,000 $251,091
    4-5% 214 $37,430,000 $174,907
    5-6% 26 $620,000 $23,846

    During 2021, Alcova Mortgage's average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 3-4%, with 5,212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 5,126 $1,402,240,000 $273,554 $4,294 3.06%
    $100k-200k 4,127 $632,075,000 $153,156 $3,251 3.10%
    $100,000 or less 989 $68,775,000 $69,540 $2,316 3.28%
    $400k-600k 932 $443,780,000 $476,159 $4,906 2.94%
    $600k-1MM 62 $44,420,000 $716,452 $8,038 3.05%
    $1MM+ 5 $6,335,000 $1,267,000 $20,811 3.08%

    2021 saw Alcova Mortgage place emphasis on $200k-400k loans with 5,126 originations, totaling $1,402,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 3,134 $637,120,000 $203,293 $3,801 3.11%
    $50k or less 2,843 $444,185,000 $156,238 $3,259 3.09%
    $100k-150k 1,952 $565,960,000 $289,939 $4,248 3.06%
    $75k-100k 1,918 $469,470,000 $244,771 $4,170 3.09%
    $150k-250k 1,025 $346,355,000 $337,907 $3,974 3.02%
    $250k+ 368 $134,450,000 $365,353 $3,864 3.04%

    Alcova Mortgage lent most frequently to those with incomes in the $50k-75k range, with 3,134 originations. The second most popular income band? $50k or less, with 2,843 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 2,456 $559,450,000 $227,789 $3,544 3.05%
    30-36% 2,129 $481,295,000 $226,066 $3,680 3.11%
    <20% 1,006 $214,990,000 $213,708 $3,096 2.99%
    44% 493 $116,485,000 $236,278 $4,213 3.17%
    39% 461 $108,505,000 $235,369 $3,881 3.12%
    43% 445 $103,255,000 $232,034 $4,251 3.18%
    41% 440 $103,050,000 $234,205 $4,106 3.11%
    40% 428 $99,250,000 $231,893 $3,996 3.16%
    42% 423 $102,525,000 $242,376 $3,887 3.12%
    37% 419 $95,395,000 $227,673 $3,653 3.11%
    38% 419 $93,135,000 $222,279 $3,702 3.14%
    36% 378 $86,350,000 $228,439 $3,784 3.13%
    45% 284 $71,630,000 $252,218 $4,021 3.10%
    49% 273 $69,235,000 $253,608 $4,398 3.10%
    50-60% 270 $65,900,000 $244,074 $5,975 3.06%
    47% 244 $58,170,000 $238,402 $4,423 3.12%
    46% 239 $58,795,000 $246,004 $4,371 3.09%
    48% 223 $54,865,000 $246,031 $4,455 3.15%
    >60% 9 $1,325,000 $147,222 $3,650 3.17%

    Alcova Mortgage lent most frequently to those with DTI ratios of 20-30%, with 2,456 originations. The next most common DTI ratio? 30-36%, with 2,129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 9,291 $2,147,675,000 $231,156 $3,754 3.07%
    Black 899 $192,655,000 $214,299 $4,415 3.21%
    Not provided 610 $148,240,000 $243,016 $3,914 3.10%
    Asian 360 $89,900,000 $249,722 $3,799 3.07%
    American Indian 66 $15,110,000 $228,939 $4,003 3.09%
    Native Hawaiian or Islander 9 $2,165,000 $240,556 $3,521 3.33%
    Other Asian 3 $885,000 $295,000 $8,773 3.08%
    Vietnamese 1 $375,000 $375,000 $5,660 2.75%
    Filipino 1 $365,000 $365,000 $11,909 3.25%
    Asian Indian 1 $255,000 $255,000 $7,989 3.88%

    Approval Rates

    Total approvals of all applications
    97.37%

    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
    85.10%

    Alcova Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 11,241 $2,597,625,000 $231,085

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    11,241 $2,597,625,000 $231,085

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 230 $33,060,000 $143,739 $2,875 2.82%
    40-60% 1,016 $200,630,000 $197,470 $3,103 2.88%
    60-80% 3,596 $854,540,000 $237,636 $3,478 3.10%
    80-100% 6,062 $1,444,330,000 $238,260 $4,019 3.11%
    Over 100% 192 $62,550,000 $325,781 $11,196 2.96%
    Under 20% 145 $2,515,000 $17,345 $489 3.71%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    ALCOVA MORTGAGE LLC Conventional home mortgage Trouble during payment process 2 66.7%
    ALCOVA MORTGAGE LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%