Alcova Mortgage Rates, Fees & Info
ROANOKE, VALEI: 549300RYBJHWWDENV610
Tax ID: 14-1886719
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Mortgage Data
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 include Richmond, Raleigh, Virginia Beach, Charlotte, and Roanoke among others. Alcova Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Alcova Mortgage is typically an average fee lendor.Originations
11,241Origination Dollar Volume (All Markets)
$2,597,625,000Awards
Alcova Mortgage - 2021
Alcova Mortgage is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Alcova Mortgage 's average 30 year fixed rate mortgage of loans were
3.12%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.03%.
Relative Fees
Alcova Mortgage 's average total fees for a 30 year fixed rate
mortgage are $3,927.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| 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.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021 period, Alcova Mortgage 's most frequently originated loan type of loans were Conventional, with 7,638 originations. Their 2nd most popular type is FHA, with 1,747 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021, Alcova Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 6,899 originations. The 2nd most popular reason of loans were 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 the 2021, Alcova Mortgage 's most frequently cited loan length of loans were 30 Year, with 9,914 originations. The 2nd most popular length of loans were 15 Year, with 826 originations.
Origination Fees
| Origination Fee | 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 | 625 | $167,475,000 | $267,960 |
| $5k+ | 154 | $62,610,000 | $406,558 |
$3,927 of loans were Alcova Mortgage 's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.12%, while their most frequently originated rate bucket of loans were 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 | 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 applications96.55%
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 origination83.96%
Alcova Mortgage has a below 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% |
