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We do not offer HELOC’s, reverse mortgages, raw land/lots, non-warrantable condos, and commercial property loans.
No origination fees, no processing fees, no underwriting fees. No admin fees, period. Plus, on loans greater than $150,000 we provide a credit of $1,000 against third party fees such as appraisal, escrow, recording fees, title insurance, and more.
No. We do not inflate the interest rate to offset lost fee revenue. Instead we run a low cost, online model with higher volumes and lower costs than traditional mortgage lenders. Our competitors have local offices, MSA’s, purchased leads, sponsorship agreements, and high advertising costs all of which create a financial disadvantage for them. It is difficult for them to match our rates and our no lender fee model.
Yes! We pay for surveys of competitors to make sure we’re very competitive in our markets. We also have pricing exceptions that can be made where sensible.
We do not give out rate sheets. Everything depends on the applicants. We have very competitive rates and charge no lender fees. Once the application is submitted and the client is pre-approved, we do a customized rate and fee estimate. Without the client information it is just a theoretical exercise.
All MLO’s will be in Bellingham, WA, where we can better leverage their time and activities. In order to eliminate lender fees, we must manage productivity and costs carefully.
Amount varies by size of the loan, by market and by lender. By waiving the origination fee, all admin fees (still charging pass through fees for third-party charges) and a $1000 lender credit, the consumer can save as much as $5,000 on a $300,000 loan.
Yes. Those are fees charged by 3rd parties, but on loans greater than $150,000, we provide a $1,000 credit to help offset those costs.
Approximately $700-$750, which is very competitive for our area.
Applications are submitted on a desktop PC through a website, or via an app for apple or android, or by phone with a loan officer.
We offer pre-approvals in minutes and fully underwritten pre approvals in 48 hrs or less.
Yes. Our Digital Mortgage app is fully capable of obtaining this information for many applicants.
The BKCO Mortgage App is available in the App Store and Google Play Store. This allows the borrower to follow the progress of the loan in real time.