Blg Holdings Mortgage Rates, Fees & Info

FLINT, MI

LEI: 549300SKVC0LU4RBMF20

Tax ID: 27-1970388

4.4 stars - out of 5 stars, based on 18 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Blg Holdings is a smaller mortgage company specializing in loans. Blg Holdings has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Detroit, Flint, Monroe, Grand Rapids, and Alma among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Blg Holdings 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. Blg Holdings 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.

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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.06% 3/31/23
    30 Year Conventional Refi 6.67% 3/31/23
    30 Year Cash-out Refi 6.92% 3/31/23
    30 Year FHA Purchase 7.82% 3/31/23
    30 Year FHA Refi 7.29% 3/31/23
    30 Year VA Purchase 7.34% 3/31/23
    30 Year USDA Purchase 7.32% 3/31/23
    15 Year Conventional Purchase 6.60% 3/31/23
    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

    317

    Origination Dollar Volume (All Markets)

    $56,185,000

    Awards

    BLG HOLDINGS FHA Loans bronze BLG HOLDINGS VA Loans gold BLG HOLDINGS 30 Year Conventional Loans bronze
    Show all (3) awards

    Relative Rate

    Blg Holdings's average 30 year fixed mortgage rate was 5.05%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.29%.

    Relative Fees (Closing Costs)

    Blg Holdings's average total fees/closing costs for a 30 year fixed rate mortgage were $6,208.

    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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 167 $30,575,000 $183,084 $6,148 4.99%
    FLINT, MI (FHA|USDA|VA) 34 $5,750,000 $169,118 $5,285 5.16%
    MONROE, MI (FHA|USDA|VA) 24 $4,770,000 $198,750 $7,071 4.91%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 21 $3,535,000 $168,333 $6,184 4.77%
    Outside of Metro Areas 20 $2,490,000 $124,500 $5,522 5.04%
    Alma, MI (FHA|USDA|VA) 13 $1,855,000 $142,692 $6,753 5.13%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 7 $1,275,000 $182,143 $6,216 5.13%
    JACKSON, MI (FHA|USDA|VA) 4 $720,000 $180,000 $5,770 5.16%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $690,000 $345,000 $4,044 5.63%
    Big Rapids, MI (FHA|USDA|VA) 3 $635,000 $211,667 $10,899 5.13%
    Traverse City, MI (FHA|USDA|VA) 2 $610,000 $305,000 $12,134 6.19%
    SAGINAW, MI (FHA|USDA|VA) 5 $565,000 $113,000 $6,374 5.30%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $445,000 $445,000 $5,543 4.50%
    MIDLAND, MI (FHA|USDA|VA) 3 $395,000 $131,667 $5,585 5.25%
    Mount Pleasant, MI (FHA|USDA|VA) 3 $335,000 $111,667 $6,644 4.96%
    Holland, MI (FHA|USDA|VA) 1 $275,000 $275,000 $3,782 5.88%
    Iron Mountain, MI-WI (FHA|USDA|VA) 1 $265,000 $265,000 $3,801 5.50%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $255,000 $255,000 $3,768 6.00%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $255,000 $255,000 $4,475 3.88%
    Sault Ste. Marie, MI (FHA|USDA|VA) 1 $155,000 $155,000 $3,231 4.75%
    Adrian, MI (FHA|USDA|VA) 1 $135,000 $135,000 $4,918 5.00%
    MUSKEGON, MI (FHA|USDA|VA) 1 $115,000 $115,000 $5,776 4.63%
    BAY CITY, MI (FHA|USDA|VA) 1 $85,000 $85,000 $4,199 4.13%
    Blg Holdings's top markets include Detroit, Flint, Monroe, Grand Rapids, and Alma among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    St James Mortgage Corporation
    Similarity Rank: 114
    Community West Credit Union
    Similarity Rank: 340
    PREFERRED CREDIT UNION
    Similarity Rank: 380
    West Michigan Credit Union
    Similarity Rank: 468
    MEMBERS FIRST Credit Union
    Similarity Rank: 495
    KENT COUNTY CREDIT UNION
    Similarity Rank: 553
    Isabella Bank
    Similarity Rank: 600
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 624

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 191 $36,375,000 $190,445 $5,078 4.94%
    FHA 110 $17,290,000 $157,182 $7,715 5.13%
    USDA 15 $2,215,000 $147,667 $7,464 5.19%
    VA 1 $305,000 $305,000 $13,324 4.50%

    For 2022, Blg Holdings's most frequently originated type of loan was Conventional, with 191 originations. Their 2nd most popular type was FHA, with 110 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 263 $47,635,000 $181,122 $6,493 5.15%
    Cash Out Refi 36 $5,400,000 $150,000 $4,395 4.35%
    Other 10 $1,770,000 $177,000 $4,761 4.88%
    Refi 8 $1,380,000 $172,500 $3,794 3.73%

    For 2022, Blg Holdings's most frequently cited loan purpose was Home Purchase, with 263 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 304 $54,150,000 $178,125 $6,208 5.05%
    15 Year 9 $1,305,000 $145,000 $4,282 4.21%
    Other 3 $595,000 $198,333 $3,839 4.38%
    20 Year 1 $135,000 $135,000 $6,741 3.38%

    For 2022, Blg Holdings's most frequently cited loan duration was 30 Year, with 304 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 103 $16,265,000 $157,913
    $2k-3k 89 $14,215,000 $159,719
    $3k-4k 49 $8,725,000 $178,061
    $4k-5k 38 $7,050,000 $185,526
    $5k+ 38 $9,930,000 $261,316

    Blg Holdings's average total fees were $6,208, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 103 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 113 $21,115,000 $186,858
    4-5% 89 $14,565,000 $163,652
    3-4% 65 $10,665,000 $164,077
    6-7% 47 $9,405,000 $200,106
    7-8% 2 $330,000 $165,000
    2.5-3% 1 $105,000 $105,000

    During 2022, Blg Holdings's average interest rate for loans was 5.05%, while their most frequently originated rate bucket for loans was 5-6%, with 113 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 182 $26,750,000 $146,978 $5,676 4.94%
    $200k-400k 81 $22,475,000 $277,469 $7,943 5.27%
    $100,000 or less 47 $3,745,000 $79,681 $4,329 4.88%
    $400k-600k 6 $2,570,000 $428,333 $7,158 4.92%
    $600k-1MM 1 $645,000 $645,000 $21,121 5.50%

    2022 saw Blg Holdings place emphasis on $100k-200k loans with 182 originations, totaling $26,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 96 $11,660,000 $121,458 $5,333 4.90%
    $50k-75k 94 $15,270,000 $162,447 $6,376 4.90%
    $75k-100k 55 $11,485,000 $208,818 $6,040 5.06%
    $100k-150k 49 $11,455,000 $233,776 $7,045 5.24%
    $150k-250k 18 $5,170,000 $287,222 $6,482 5.35%
    $250k+ 5 $1,145,000 $229,000 $7,699 5.55%

    Blg Holdings lent most frequently to those with incomes in the $50k or less range, with 96 originations. The second most popular income band? $50k-75k, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 59 $10,275,000 $174,153 $4,777 4.76%
    30-36% 56 $9,160,000 $163,571 $6,251 5.07%
    41% 23 $4,065,000 $176,739 $5,799 5.15%
    40% 21 $3,685,000 $175,476 $5,950 5.23%
    37% 20 $2,710,000 $135,500 $5,441 4.79%
    49% 20 $4,170,000 $208,500 $8,729 5.59%
    44% 19 $3,425,000 $180,263 $6,244 5.06%
    42% 13 $2,175,000 $167,308 $5,549 4.89%
    <20% 12 $1,950,000 $162,500 $4,802 4.67%
    46% 12 $2,040,000 $170,000 $7,088 5.11%
    47% 10 $1,780,000 $178,000 $7,288 5.46%
    48% 10 $2,300,000 $230,000 $7,616 4.69%
    39% 9 $1,715,000 $190,556 $5,709 4.79%
    43% 9 $1,475,000 $163,889 $7,008 4.86%
    38% 8 $1,950,000 $243,750 $6,274 5.58%
    36% 6 $990,000 $165,000 $5,411 5.04%
    45% 5 $745,000 $149,000 $6,115 5.48%
    50-60% 5 $1,575,000 $315,000 $12,014 4.40%

    Blg Holdings lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $43,210,000 $174,234 $5,953 4.95%
    Black 36 $6,350,000 $176,389 $6,884 5.03%
    Not provided 30 $5,950,000 $198,333 $6,516 5.60%
    Asian 2 $410,000 $205,000 $8,155 5.25%
    American Indian 1 $265,000 $265,000 $7,937 3.75%

    Approval Rates

    Total approvals of all applications
    95.68%

    Blg Holdings 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
    74.13%

    Blg Holdings has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 317 $56,185,000 $177,240

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    317 $56,185,000 $177,240

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $470,000 $78,333 $3,569 4.38%
    40-60% 14 $2,340,000 $167,143 $3,784 4.95%
    60-80% 75 $13,565,000 $180,867 $5,059 4.71%
    80-100% 222 $39,810,000 $179,324 $6,712 5.14%