Virginia Partners Bank Mortgage Rates, Fees & Info

Richmond, VA

LEI: 2549004R5IWT90NBTB98

Tax ID: 26-0473514

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Mortgage Data

Review & Overview

Virginia Partners Bank is a smaller bank specializing in Home Purchase loans. Virginia Partners Bank has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Staunton, Virginia Beach, Beckley, and California among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Virginia Partners Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

70

Origination Dollar Volume (All Markets)

$32,370,000

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 46 $22,360,000 $486,087 $0 0.00%
Outside of Metro Areas 18 $6,440,000 $357,778 $0 0.00%
STAUNTON, VA (FHA|USDA|VA) 1 $1,175,000 $1,175,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $775,000 $775,000 $0 0.00%
BECKLEY, WV (FHA|USDA|VA) 1 $675,000 $675,000 $0 0.00%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $520,000 $260,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
Virginia Partners Bank's top markets include Washington, Staunton, Virginia Beach, Beckley, and California among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $32,370,000 $462,429 $0 0.00%

    For 2023, Virginia Partners Bank's most frequently originated type of loan was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 60 $30,100,000 $501,667 $0 0.00%
    Refi 6 $1,880,000 $313,333 $0 0.00%
    Home Improvement 4 $390,000 $97,500 $0 0.00%

    For 2023, Virginia Partners Bank's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 70 $32,370,000 $462,429 $0 0.00%

    For 2023, Virginia Partners Bank's most frequently cited loan duration was Other, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 22 $6,050,000 $275,000 $0 0.00%
    $100k-200k 15 $2,295,000 $153,000 $0 0.00%
    $400k-600k 11 $5,115,000 $465,000 $0 0.00%
    $600k-1MM 11 $8,075,000 $734,091 $0 0.00%
    $100,000 or less 6 $320,000 $53,333 $0 0.00%
    $1MM+ 5 $10,515,000 $2,103,000 $0 0.00%

    2023 saw Virginia Partners Bank place emphasis on $200k-400k loans with 22 originations, totaling $6,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 11 $4,975,000 $452,273 $0 0.00%
    $250k+ 10 $12,370,000 $1,237,000 $0 0.00%
    $100k-150k 7 $1,615,000 $230,714 $0 0.00%
    $75k-100k 2 $450,000 $225,000 $0 0.00%
    $50k-75k 1 $55,000 $55,000 $0 0.00%

    Virginia Partners Bank lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $250k+, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 70 $32,370,000 $462,429 $0 0.00%

    Virginia Partners Bank lent most frequently to those with DTI ratios of Exempt%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 28 $18,340,000 $655,000 $0 0.00%
    Not applicable 39 $12,905,000 $330,897 $0 0.00%
    Black 2 $1,060,000 $530,000 $0 0.00%
    Not provided 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.26%

    Virginia Partners Bank 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
    98.57%

    Virginia Partners Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 70 $32,370,000 $462,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    70 $32,370,000 $462,429