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We analyzed every closed loan from Alcova Mortgage — 4.4k loans across 5k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Acceptable
vs. all lenders
Pull Through
Exceptional
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo · USDA
Place
Sound
Multi-Region · 45 mkts
Safe Rate Awards⭐Conventional Superstar⭐FHA Superstar⭐VA Superstar⭐USDA Superstar⭐Purchase Superstar
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Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and USDA loans
Things to Think About
- Pricing may be below industry average
Explore another lender or local market
Report Card
Alcova Mortgage LLC performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Near industry average +44.5 bps above market avg | |
Pull Through Closing strength | Market Leader Top 10% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Market Leader Top 20% of lenders | |
FHA | Market Leader Top 20% of lenders | |
VA | Market Leader Top 20% of lenders | |
Jumbo | Industry Standard Top 60% of lenders | |
USDA | Market Leader Top 10% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Industry Standard Top 60% of lenders Multi-Regional46 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 2,528 | 57.2% | +0.418%Above | $2,417Fees | ||||
FHA Loans | 1,105 | 25.0% | +0.714%Above | $2,177Fees | ||||
VA Loans | 453 | 10.2% | -0.166%Below | $2,534Fees | ||||
Jumbo Loans | — | — | 15 | 0.3% | +0.266%Above | $2,521Fees | ||
USDA Loans | 322 | 7.3% | +0.679%Above | $986Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 4,017 | 90.8% | +0.448%Above | $2,195Fees | ||||
Refinance | 406 | 9.2% | +0.420%Above | $3,244Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
4,423
Applications
5,470
Volume
$1 billion
Pricing & Closing
Avg Rate Spread
+0.445%
vs. market APOR
Avg Net Fees
$2,329
Origination − Credits
Pullthrough Rate
80.9%
Applications → Closed
Typical Borrower
Avg Loan Amount
$295,626
Avg Borrower Income
$115,239
Avg Property Value
$360,200
Geographic Coverage
Geographic Performance
Metro Areas
45
States Served
16
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
ALARDCFLGAKYMDNCOHPASCTNTXVAWAWV
Top Metro Areas by Place Specialization Score
1
Staunton, VAMSA
Volume: 182Mix: 4.11%of portfolio
Place
Exceptional2
Blacksburg, VAMSA
Volume: 168Mix: 3.80%of portfolio
Place
Exceptional3
Roanoke, VA, VAMSA
Volume: 242Mix: 5.47%of portfolio
Place
Exceptional4
Lynchburg, VA, VAMSA
Volume: 188Mix: 4.25%of portfolio
Place
Exceptional5
Richmond, VA, VAMSA
Volume: 455Mix: 10.29%of portfolio
Place
Exceptional6
Greenville, NC, NCMSA
Volume: 86Mix: 1.94%of portfolio
Place
Exceptional7
Charlotte, NC-SCMSA
Volume: 235Mix: 5.31%of portfolio
Place
Strong8
Raleigh, NCMSA
Volume: 155Mix: 3.50%of portfolio
Place
Strong9
Virginia Beach, VA-NCMSA
Volume: 147Mix: 3.32%of portfolio
Place
Strong10
Fayetteville, NC, NCMSA
Volume: 76Mix: 1.72%of portfolio
Place
StrongShowing 10 of 45 metro areas
Top States by Place Specialization Score
1
VAState
Volume: 2,183Mix: 49.36%of portfolio
Place
Exceptional2
NCState
Volume: 1,014Mix: 22.93%of portfolio
Place
Exceptional3
WVState
Volume: 175Mix: 3.96%of portfolio
Place
Strong4
SCState
Volume: 200Mix: 4.52%of portfolio
Place
Strong5
MDState
Volume: 182Mix: 4.11%of portfolio
Place
Strong6
GAState
Volume: 197Mix: 4.45%of portfolio
Place
Strong7
PAState
Volume: 140Mix: 3.17%of portfolio
Place
Strong8
OHState
Volume: 82Mix: 1.85%of portfolio
Place
Sound9
TXState
Volume: 104Mix: 2.35%of portfolio
Place
Sound10
FLState
Volume: 104Mix: 2.35%of portfolio
Place
SoundShowing 10 of 11 states
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.