Alcova Mortgage Rates, Fees & Info
ROANOKE, VALEI: 549300RYBJHWWDENV610
Tax ID: 14-1886719
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Mortgage Data
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, Washington, and Charlotte among others. We have data for 136 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.82% | 12/16/24 |
| 30 Year Conventional Refi | 6.81% | 12/16/24 |
| 30 Year FHA Purchase | 7.64% | 12/16/24 |
| 30 Year FHA Refi | 7.57% | 12/16/24 |
| 30 Year VA Purchase | 6.50% | 12/16/24 |
| 30 Year VA Refi | 6.60% | 12/16/24 |
| 30 Year USDA Purchase | 7.02% | 12/16/24 |
| 30 Year USDA Refi | 6.79% | 12/16/24 |
| 15 Year Conventional Purchase | 5.30% | 12/16/24 |
| 15 Year Conventional Refi | 6.51% | 12/16/24 |
| 15 Year Cash-out Refi | 6.51% | 12/16/24 |
| 15 Year FHA Purchase | 6.56% | 12/16/24 |
| 15 Year FHA Refi | 7.35% | 12/16/24 |
| 15 Year VA Purchase | 6.12% | 12/16/24 |
| 15 Year VA Refi | 6.87% | 12/16/24 |
| 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. | ||
Alcova Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
10,588Origination Dollar Volume (All Markets)
$2,370,460,000Awards
Alcova Mortgage - 2020
Alcova Mortgage is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 1,331 | $344,255,000 | $258,644 | $3,273 | 3.22% |
| Outside of Metro Areas | 1,432 | $249,640,000 | $174,330 | $3,137 | 3.26% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 854 | $229,350,000 | $268,560 | $3,335 | 3.10% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 615 | $154,995,000 | $252,024 | $4,178 | 3.13% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 440 | $143,300,000 | $325,682 | $4,572 | 3.11% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 586 | $136,670,000 | $233,225 | $3,733 | 3.24% |
| ROANOKE, VA (FHA|USDA|VA) | 706 | $131,500,000 | $186,261 | $2,917 | 3.21% |
| ASHEVILLE, NC (FHA|USDA|VA) | 379 | $94,715,000 | $249,908 | $3,380 | 3.26% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 407 | $94,105,000 | $231,216 | $2,983 | 3.19% |
| STAUNTON, VA (FHA|USDA|VA) | 478 | $93,440,000 | $195,481 | $3,091 | 3.28% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 317 | $80,795,000 | $254,874 | $3,651 | 3.22% |
| GREENVILLE, NC (FHA|USDA|VA) | 384 | $78,120,000 | $203,438 | $4,047 | 3.11% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 177 | $44,975,000 | $254,096 | $3,287 | 3.11% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 235 | $41,615,000 | $177,085 | $3,274 | 3.13% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 122 | $32,230,000 | $264,180 | $3,020 | 2.92% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 125 | $32,165,000 | $257,320 | $3,845 | 3.17% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 160 | $26,770,000 | $167,313 | $3,406 | 3.26% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 172 | $23,900,000 | $138,953 | $2,696 | 3.30% |
| Danville, VA (FHA|USDA|VA) | 155 | $22,495,000 | $145,129 | $3,280 | 3.30% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 105 | $21,375,000 | $203,571 | $3,028 | 3.11% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 81 | $20,655,000 | $255,000 | $4,298 | 3.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 88 | $17,520,000 | $199,091 | $3,019 | 3.19% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 81 | $16,855,000 | $208,086 | $4,028 | 3.39% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 62 | $16,020,000 | $258,387 | $3,895 | 3.21% |
| Martinsville, VA (FHA|USDA|VA) | 98 | $12,440,000 | $126,939 | $2,600 | 3.22% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 48 | $12,330,000 | $256,875 | $3,430 | 3.06% |
| Morehead City, NC (FHA|USDA|VA) | 39 | $10,685,000 | $273,974 | $4,274 | 3.30% |
| Boone, NC (FHA|USDA|VA) | 42 | $10,450,000 | $248,810 | $2,755 | 3.27% |
| Sanford, NC (FHA|USDA|VA) | 51 | $10,115,000 | $198,333 | $4,123 | 3.21% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 50 | $8,990,000 | $179,800 | $3,785 | 3.37% |
| HARRISONBURG, VA (FHA|USDA|VA) | 37 | $7,955,000 | $215,000 | $3,231 | 3.31% |
| BURLINGTON, NC (FHA|USDA|VA) | 42 | $7,680,000 | $182,857 | $3,949 | 3.10% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 33 | $6,605,000 | $200,152 | $3,322 | 3.28% |
| Albemarle, NC (FHA|USDA|VA) | 34 | $6,550,000 | $192,647 | $4,691 | 3.22% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 20 | $6,420,000 | $321,000 | $3,471 | 3.32% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 19 | $5,815,000 | $306,053 | $3,900 | 3.30% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 40 | $5,730,000 | $143,250 | $3,742 | 2.78% |
| Washington, NC (FHA|USDA|VA) | 29 | $5,695,000 | $196,379 | $3,822 | 3.12% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 26 | $5,530,000 | $212,692 | $5,903 | 3.33% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 18 | $5,300,000 | $294,444 | $3,262 | 3.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 16 | $4,930,000 | $308,125 | $4,953 | 2.85% |
| WILMINGTON, NC (FHA|USDA|VA) | 18 | $4,640,000 | $257,778 | $3,413 | 3.05% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 18 | $4,310,000 | $239,444 | $4,457 | 3.10% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 21 | $3,995,000 | $190,238 | $3,824 | 3.20% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 25 | $3,745,000 | $149,800 | $2,863 | 3.25% |
| BECKLEY, WV (FHA|USDA|VA) | 28 | $3,620,000 | $129,286 | $2,291 | 3.46% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 16 | $3,560,000 | $222,500 | $3,802 | 3.18% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 11 | $3,345,000 | $304,091 | $2,757 | 2.98% |
| Wilson, NC (FHA|USDA|VA) | 16 | $2,970,000 | $185,625 | $3,854 | 3.17% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 15 | $2,895,000 | $193,000 | $5,350 | 3.87% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 13 | $2,785,000 | $214,231 | $2,987 | 2.96% |
| NEW BERN, NC (FHA|USDA|VA) | 16 | $2,770,000 | $173,125 | $3,719 | 3.09% |
| Bluefield, WV-VA (FHA|USDA|VA) | 16 | $2,250,000 | $140,625 | $2,909 | 3.01% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 11 | $2,135,000 | $194,091 | $3,030 | 3.38% |
| OCALA, FL (FHA|USDA|VA) | 12 | $1,960,000 | $163,333 | $4,689 | 3.16% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 12 | $1,960,000 | $163,333 | $5,755 | 3.63% |
| GAINESVILLE, GA (FHA|USDA|VA) | 7 | $1,905,000 | $272,143 | $3,199 | 3.32% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 10 | $1,860,000 | $186,000 | $4,733 | 3.09% |
| SPARTANBURG, SC (FHA|USDA|VA) | 9 | $1,595,000 | $177,222 | $3,685 | 3.18% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 7 | $1,475,000 | $210,714 | $3,305 | 3.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 8 | $1,440,000 | $180,000 | $4,215 | 3.05% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 7 | $1,395,000 | $199,286 | $3,663 | 3.34% |
| Brevard, NC (FHA|USDA|VA) | 6 | $1,270,000 | $211,667 | $3,242 | 3.29% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 7 | $1,265,000 | $180,714 | $3,112 | 3.34% |
| Lumberton, NC (FHA|USDA|VA) | 6 | $1,190,000 | $198,333 | $4,631 | 3.52% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $3,386 | 2.96% |
| COLUMBIA, SC (FHA|USDA|VA) | 7 | $1,045,000 | $149,286 | $5,549 | 3.41% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $4,934 | 3.46% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $4,967 | 3.04% |
| Marion, NC (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $2,443 | 3.79% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $3,289 | 2.88% |
| Henderson, NC (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $5,084 | 2.84% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $3,482 | 2.75% |
| Shelby, NC (FHA|USDA|VA) | 5 | $765,000 | $153,000 | $2,216 | 3.33% |
| Jefferson, GA (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $5,148 | 3.00% |
| FLORENCE, SC (FHA|USDA|VA) | 5 | $735,000 | $147,000 | $4,923 | 3.20% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $2,008 | 3.00% |
| DALTON, GA (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $3,401 | 3.06% |
| Forest City, NC (FHA|USDA|VA) | 4 | $700,000 | $175,000 | $4,049 | 3.25% |
| Gaffney, SC (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $5,709 | 3.58% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $3,575 | 3.63% |
| Elizabeth City, NC (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $1,978 | 3.79% |
| THE VILLAGES, FL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $5,850 | 3.08% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $7,696 | 3.50% |
| MORGANTOWN, WV (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $5,964 | 3.50% |
| Pottsville, PA (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $3,449 | 2.81% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $9,077 | 2.88% |
| Key West, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $7,595 | 2.63% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $8,467 | 2.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,919 | 2.94% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $5,476 | 3.25% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,817 | 2.69% |
| Cullowhee, NC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $2,721 | 3.13% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,405 | 3.12% |
| Laurinburg, NC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $2,645 | 3.19% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,861 | 2.63% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $7,904 | 3.50% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,513 | 2.50% |
| Albertville, AL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $6,067 | 3.06% |
| CHARLESTON, WV (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $2,474 | 3.38% |
| KNOXVILLE, TN (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $5,770 | 3.75% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $7,233 | 3.00% |
| Easton, MD (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,145 | 3.49% |
| Calhoun, GA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,117 | 2.94% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,435 | 3.38% |
| Clarksburg, WV (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,103 | 3.25% |
| Somerset, PA (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $2,761 | 3.54% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,758 | 3.88% |
| Kinston, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,608 | 2.88% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $4,923 | 3.50% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,240 | 3.50% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,708 | 2.88% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,781 | 3.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,026 | 2.88% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,214 | 2.25% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,446 | 3.13% |
| Scottsboro, AL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $3,069 | 3.06% |
| Cornelia, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,860 | 3.99% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,637 | 3.50% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,058 | 2.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $450 | 3.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,879 | 2.75% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,386 | 2.75% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,263 | 3.75% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,361 | 3.75% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,537 | 3.99% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,763 | 3.88% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,471 | 2.88% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.99% |
| Bennettsville, SC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,151 | 3.25% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,755 | 3.63% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,396 | 3.00% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,574 | 4.13% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,682 | 3.50% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $524 | 3.38% |
| Big Stone Gap, VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,723 | 3.38% |
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Product Mix
For 2020, Alcova Mortgage's most frequently originated type of loan was Conventional, with 7,057 originations. Their 2nd most popular type was FHA, with 1,607 originations.
Loan Reason
For 2020, Alcova Mortgage's most frequently cited loan purpose was Home Purchase, with 5,731 originations. The 2nd most popular reason was Refi, with 4,847 originations.
Loan Duration/Length
For 2020, Alcova Mortgage's most frequently cited loan duration was 30 Year, with 9,281 originations. The 2nd most popular length was 15 Year, with 800 originations.
Origination Fees/Closing Costs
Alcova Mortgage's average total fees were $3,478, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4,696 originations.
Interest Rates
During 2020, Alcova Mortgage's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 5,129 originations.
Loan Sizing
2020 saw Alcova Mortgage place emphasis on $200k-400k loans with 4,742 originations, totaling $1,300,130,000 in origination value.
Applicant Income
Alcova Mortgage lent most frequently to those with incomes in the $50k or less range, with 2,855 originations. The second most popular income band? $50k-75k, with 2,793 originations.
Applicant Debt to Income Ratio
Alcova Mortgage lent most frequently to those with DTI ratios of 20-30%, with 2,445 originations. The next most common DTI ratio? 30-36%, with 2,000 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.47%
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 origination84.87%
Alcova Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 10,588 | $2,370,460,000 | $223,882 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 219 | $27,185,000 | $124,132 |
| Single Family (1-4 Units):Site-Built | 10,369 | $2,343,275,000 | $225,989 |