Blg Holdings Mortgage Rates, Fees & Info

FLINT, MI

LEI: 549300SKVC0LU4RBMF20

Tax ID: 27-1970388

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Blg Holdings is a smaller mortgage company specializing in Home Purchase and Refi loans. Blg Holdings has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Detroit, Flint, Grand Rapids, Monroe, and Lansing among others. Blg Holdings 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. Blg Holdings is typically an average fee lendor.


Originations

827

Origination Dollar Volume (All Markets)

$144,745,000

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 rate mortgage of loans were 3.18%.

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

Blg Holdings 's average total fees for a 30 year fixed rate mortgage are $4,568.

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
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 504 $89,240,000 $177,063 $4,259 3.06%
FLINT, MI (FHA|USDA|VA) 126 $22,390,000 $177,698 $4,431 3.09%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 41 $6,665,000 $162,561 $4,866 3.24%
MONROE, MI (FHA|USDA|VA) 31 $5,055,000 $163,065 $4,161 3.03%
Outside of Metro Areas 36 $4,880,000 $135,556 $4,638 3.24%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 19 $3,105,000 $163,421 $4,758 3.01%
ANN ARBOR, MI (FHA|USDA|VA) 10 $2,760,000 $276,000 $3,849 2.69%
Alma, MI (FHA|USDA|VA) 18 $2,020,000 $112,222 $4,815 3.33%
SAGINAW, MI (FHA|USDA|VA) 6 $1,000,000 $166,667 $4,290 3.02%
JACKSON, MI (FHA|USDA|VA) 5 $985,000 $197,000 $8,231 2.95%
Mount Pleasant, MI (FHA|USDA|VA) 4 $850,000 $212,500 $7,053 3.19%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $640,000 $320,000 $4,242 2.81%
Big Rapids, MI (FHA|USDA|VA) 4 $570,000 $142,500 $5,128 3.28%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $495,000 $495,000 $7,709 2.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $445,000 $445,000 $2,952 3.38%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 2 $440,000 $220,000 $3,503 3.13%
MIDLAND, MI (FHA|USDA|VA) 3 $405,000 $135,000 $4,019 3.25%
Adrian, MI (FHA|USDA|VA) 2 $390,000 $195,000 $3,106 3.06%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,648 3.38%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $335,000 $335,000 $4,485 4.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,108 3.00%
BAY CITY, MI (FHA|USDA|VA) 1 $245,000 $245,000 $2,897 3.50%
NILES, MI (FHA|USDA|VA) 1 $235,000 $235,000 $8,385 3.38%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $185,000 $185,000 $5,200 2.88%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $165,000 $165,000 $6,838 2.50%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,601 3.13%
Hillsdale, MI (FHA|USDA|VA) 1 $145,000 $145,000 $4,288 3.25%
Traverse City, MI (FHA|USDA|VA) 1 $145,000 $145,000 $5,364 2.75%
OCALA, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,691 3.00%
MORRISTOWN, TN (FHA|USDA|VA) 1 $85,000 $85,000 $3,127 2.75%

Blg Holdings 's top markets include Detroit, Flint, Grand Rapids, Monroe, and Lansing among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 576 $104,520,000 $181,458 $3,682 3.00%
FHA 190 $29,630,000 $155,947 $6,292 3.35%
USDA 43 $6,935,000 $161,279 $5,593 3.06%
VA 18 $3,660,000 $203,333 $4,140 2.92%

For the 2021 period, Blg Holdings 's most frequently originated loan type of loans were Conventional, with 576 originations. Their 2nd most popular type is FHA, with 190 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 467 $82,185,000 $175,985 $5,029 3.27%
Refi 202 $35,330,000 $174,901 $3,379 2.72%
Cash Out Refi 142 $25,670,000 $180,775 $3,850 2.98%
Other 16 $1,560,000 $97,500 $3,345 3.14%

For the 2021, Blg Holdings 's most frequently cited loan purpose of loans were Home Purchase, with 467 originations. The 2nd most popular reason of loans were Refi, with 202 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 708 $125,920,000 $177,853 $4,568 3.18%
15 Year 81 $12,645,000 $156,111 $3,240 2.40%
20 Year 18 $2,860,000 $158,889 $3,387 2.76%
10 Year 10 $1,280,000 $128,000 $3,233 2.25%
Other 10 $2,040,000 $204,000 $4,139 2.96%

For the 2021, Blg Holdings 's most frequently cited loan length of loans were 30 Year, with 708 originations. The 2nd most popular length of loans were 15 Year, with 81 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 541 $87,705,000 $162,116
$2k-3k 164 $29,910,000 $182,378
$3k-4k 76 $16,310,000 $214,605
$<1k 26 $4,320,000 $166,154
$5k+ 20 $6,500,000 $325,000

$4,568 of loans were Blg Holdings 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 541 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 444 $76,060,000 $171,306
2.5-3% 254 $47,900,000 $188,583
<2.5% 121 $19,695,000 $162,769
4-5% 8 $1,090,000 $136,250

During 2021, Blg Holdings 's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 444 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 461 $67,685,000 $146,822 $4,298 3.10%
$200k-400k 226 $59,690,000 $264,115 $4,984 3.06%
$100,000 or less 124 $9,760,000 $78,710 $3,377 3.07%
$400k-600k 16 $7,610,000 $475,625 $6,556 2.91%

2021 saw Blg Holdings place emphasis on $100k-200k loans with 461 originations, totaling $67,685,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 259 $42,335,000 $163,456 $4,578 3.13%
$50k or less 256 $32,530,000 $127,070 $4,187 3.14%
$75k-100k 142 $28,730,000 $202,324 $4,542 3.08%
$100k-150k 108 $24,690,000 $228,611 $4,280 2.97%
$150k-250k 48 $12,870,000 $268,125 $4,392 2.85%
$250k+ 11 $2,925,000 $265,909 $4,091 2.81%

Blg Holdings lent most frequently to those with incomes in the $50k-75k range, with 259 originations. The second most popular income band? $50k or less, with 256 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 169 $27,865,000 $164,882 $3,981 3.02%
30-36% 147 $24,975,000 $169,898 $4,358 3.08%
<20% 65 $12,435,000 $191,308 $3,760 2.88%
44% 39 $6,645,000 $170,385 $4,501 3.21%
38% 37 $7,345,000 $198,514 $4,189 3.15%
39% 37 $6,735,000 $182,027 $4,269 3.14%
41% 36 $6,270,000 $174,167 $4,505 3.14%
42% 34 $5,960,000 $175,294 $4,926 3.12%
37% 33 $5,515,000 $167,121 $4,519 3.13%
43% 32 $5,560,000 $173,750 $4,481 3.14%
36% 31 $5,555,000 $179,194 $4,838 3.19%
40% 30 $5,970,000 $199,000 $4,517 3.12%
46% 25 $4,445,000 $177,800 $4,645 3.09%
45% 24 $3,780,000 $157,500 $4,496 3.12%
47% 24 $4,090,000 $170,417 $4,602 2.98%
49% 23 $4,165,000 $181,087 $4,315 3.06%
48% 21 $3,345,000 $159,286 $5,249 3.27%
50-60% 20 $4,090,000 $204,500 $6,672 3.14%

Blg Holdings lent most frequently to those with DTI ratios of 20-30%, with 169 originations. The next most common DTI ratio? 30-36%, with 147 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 605 $105,925,000 $175,083 $4,335 3.06%
Not provided 119 $22,295,000 $187,353 $4,509 3.06%
Black 95 $15,055,000 $158,474 $4,638 3.30%
Asian 3 $455,000 $151,667 $3,180 2.54%
Asian Indian 1 $335,000 $335,000 $4,151 2.13%
Japanese 1 $275,000 $275,000 $7,657 2.50%
Other Asian 2 $250,000 $125,000 $3,648 3.19%
American Indian 1 $155,000 $155,000 $2,837 2.63%

Approval Rates

Total approvals of all applications
95.88%

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
78.19%

Blg Holdings has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 827 $144,745,000 $175,024

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
827 $144,745,000 $175,024

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 19 $2,225,000 $117,105 $3,413 2.68%
40-60% 78 $10,870,000 $139,359 $3,033 2.65%
60-80% 253 $47,415,000 $187,411 $3,746 2.99%
80-100% 476 $84,070,000 $176,618 $4,994 3.22%
Over 100% 1 $165,000 $165,000 $4,673 3.88%