Alcova Mortgage Rates, Fees & Info

ROANOKE, VA

LEI: 549300RYBJHWWDENV610

Tax ID: 14-1886719

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

2021 Data | 2020 Data | 2019 Data | 2018 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

11,241

Origination Dollar Volume (All Markets)

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

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 applications
96.55%

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 origination
83.96%

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%