Newport News Shipbuilding Employees Mortgage Rates, Fees & Info

Newport News, VA

LEI: 5493000E527OH5Y8TR73

Tax ID: 54-0314180

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Newport News Shipbuilding Employees is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Newport News Shipbuilding Employees has a high proportion of conventional loans. Their top markets by origination volume include: Virginia Beach, Richmond, Kill Devil Hills, Blacksburg, and Charlottesville among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Newport News Shipbuilding Employees 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. Newport News Shipbuilding Employees is typically a low 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
    Home Equity Line of Credit (HELOC) 6.11% 4/22/24
    30 Year Conventional Purchase 6.45% 4/22/24
    30 Year Conventional Refi 6.47% 4/22/24
    30 Year Cash-out Refi 6.83% 4/22/24
    30 Year FHA Purchase 6.27% 4/22/24
    30 Year FHA Refi 6.27% 4/22/24
    30 Year VA Purchase 5.78% 4/22/24
    30 Year VA Refi 6.27% 4/22/24
    15 Year Conventional Purchase 5.72% 4/22/24
    15 Year Conventional Refi 6.34% 4/22/24
    15 Year Cash-out Refi 6.34% 4/22/24
    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.

    Newport News Shipbuilding Employees Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Newport News Shipbuilding Employees. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    841

    Origination Dollar Volume (All Markets)

    $168,355,000

    Awards

    NEWPORT NEWS SHIPBUILDING EMPLOYEES VA Loans silver
    Show all (1) awards

    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
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 732 $142,090,000 $194,112 $2,638 3.41%
    Outside of Metro Areas 64 $14,690,000 $229,531 $3,249 3.01%
    RICHMOND, VA (FHA|USDA|VA) 17 $2,785,000 $163,824 $2,273 3.46%
    Kill Devil Hills, NC (FHA|USDA|VA) 10 $2,780,000 $278,000 $2,853 2.78%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $1,650,000 $825,000 $0 3.88%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $690,000 $345,000 $5,558 3.25%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $475,000 $475,000 $13,663 2.63%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $465,000 $465,000 $7,976 3.50%
    GREENVILLE, NC (FHA|USDA|VA) 1 $415,000 $415,000 $3,055 3.13%
    Henderson, NC (FHA|USDA|VA) 1 $405,000 $405,000 $7,125 2.38%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $295,000 $295,000 $8,725 2.75%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $265,000 $265,000 $3,098 2.63%
    STAUNTON, VA (FHA|USDA|VA) 1 $215,000 $215,000 $2,391 2.50%
    Elizabeth City, NC (FHA|USDA|VA) 1 $195,000 $195,000 $4,343 2.13%
    ROCKY MOUNT, NC (FHA|USDA|VA) 1 $195,000 $195,000 $2,494 3.25%
    Morehead City, NC (FHA|USDA|VA) 1 $195,000 $195,000 $2,826 2.63%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $165,000 $165,000 $2,554 2.88%
    Martinsville, VA (FHA|USDA|VA) 1 $145,000 $145,000 $6,206 2.75%
    ROANOKE, VA (FHA|USDA|VA) 1 $135,000 $135,000 $3,345 2.75%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $105,000 $105,000 $3,128 4.50%
    Newport News Shipbuilding Employees's top markets include Virginia Beach, Richmond, Kill Devil Hills, Blacksburg, and Charlottesville among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    Aurora Financial, LLC
    Similarity Rank: 511
    ABNB Federal Credit Union
    Similarity Rank: 544
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 722
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 860
    Virginia Credit Union, Inc.
    Similarity Rank: 1440
    VILLAGE BANK MORTGAGE CORPORATION
    Similarity Rank: 2123
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 3190
    ABSOLUTE HOME MORTGAGE CORPORATION
    Similarity Rank: 3440
    ONY GLO, INC.
    Similarity Rank: 3668
    TJC Mortgage, Inc.
    Similarity Rank: 3864

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 815 $160,755,000 $197,245 $2,638 3.39%
    VA 26 $7,600,000 $292,308 $5,509 2.51%

    For 2021, Newport News Shipbuilding Employees's most frequently originated type of loan was Conventional, with 815 originations. Their 2nd most popular type was VA, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 259 $51,125,000 $197,394 $2,829 3.04%
    Cash Out Refi 210 $45,260,000 $215,524 $3,348 3.05%
    Home Purchase 181 $57,995,000 $320,414 $4,536 3.19%
    Other 98 $5,930,000 $60,510 $486 4.44%
    Home Improvement 93 $8,045,000 $86,505 $863 4.17%

    For 2021, Newport News Shipbuilding Employees's most frequently cited loan purpose was Refi, with 259 originations. The 2nd most popular reason was Cash Out Refi, with 210 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 367 $86,265,000 $235,054 $3,687 3.11%
    15 Year 237 $28,985,000 $122,300 $1,425 3.57%
    10 Year 136 $28,190,000 $207,279 $986 3.70%
    20 Year 45 $9,985,000 $221,889 $3,728 3.04%
    5 Year 37 $4,655,000 $125,811 $121 4.04%
    30+ year 12 $6,080,000 $506,667 $11,963 2.75%
    Other 7 $4,195,000 $599,286 $6,829 2.75%

    For 2021, Newport News Shipbuilding Employees's most frequently cited loan duration was 30 Year, with 367 originations. The 2nd most popular length was 15 Year, with 237 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 557 $89,675,000 $160,996
    $1k-2k 118 $22,430,000 $190,085
    $2k-3k 39 $8,395,000 $215,256
    $5k+ 26 $10,620,000 $408,462
    $3k-4k 22 $5,780,000 $262,727
    $4k-5k 14 $3,960,000 $282,857

    Newport News Shipbuilding Employees's average total fees were $3,687, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 557 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 289 $69,375,000 $240,052
    3-4% 257 $63,825,000 $248,346
    4-5% 136 $9,080,000 $66,765
    <2.5% 133 $24,485,000 $184,098
    5-6% 20 $1,260,000 $63,000
    6-7% 6 $330,000 $55,000

    During 2021, Newport News Shipbuilding Employees's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 2.5-3%, with 289 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 270 $40,550,000 $150,185 $2,791 3.12%
    $100,000 or less 257 $14,455,000 $56,245 $734 4.04%
    $200k-400k 245 $66,325,000 $270,714 $3,881 2.97%
    $400k-600k 49 $23,215,000 $473,776 $6,119 3.09%
    $1MM+ 11 $17,565,000 $1,596,818 $17,401 3.64%
    $600k-1MM 9 $6,245,000 $693,889 $9,872 3.28%

    2021 saw Newport News Shipbuilding Employees place emphasis on $100k-200k loans with 270 originations, totaling $40,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 207 $38,085,000 $183,986 $2,505 3.41%
    $50k-75k 190 $26,500,000 $139,474 $2,405 3.35%
    $75k-100k 142 $23,600,000 $166,197 $2,613 3.31%
    $150k-250k 103 $24,215,000 $235,097 $3,478 3.23%
    $50k or less 92 $11,520,000 $125,217 $2,476 3.21%
    $250k+ 35 $14,545,000 $415,571 $5,106 3.44%

    Newport News Shipbuilding Employees lent most frequently to those with incomes in the $100k-150k range, with 207 originations. The second most popular income band? $50k-75k, with 190 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 182 $33,130,000 $182,033 $2,884 3.09%
    30-36% 133 $24,005,000 $180,489 $2,906 3.31%
    <20% 106 $19,340,000 $182,453 $3,187 2.94%
    45% 32 $5,200,000 $162,500 $2,700 3.62%
    39% 30 $5,440,000 $181,333 $3,184 3.33%
    44% 28 $7,080,000 $252,857 $3,565 3.50%
    43% 28 $4,510,000 $161,071 $2,997 3.46%
    48% 26 $6,400,000 $246,154 $1,626 4.02%
    40% 25 $5,405,000 $216,200 $3,224 3.37%
    36% 24 $4,710,000 $196,250 $2,516 3.20%
    38% 23 $4,085,000 $177,609 $2,510 3.29%
    42% 20 $3,400,000 $170,000 $2,103 3.66%
    37% 20 $3,430,000 $171,500 $3,064 3.34%
    41% 20 $2,810,000 $140,500 $2,045 3.71%
    47% 19 $2,565,000 $135,000 $1,586 4.06%
    50-60% 18 $2,410,000 $133,889 $1,880 3.87%
    49% 14 $1,090,000 $77,857 $326 4.37%
    46% 9 $755,000 $83,889 $978 4.25%
    >60% 9 $2,295,000 $255,000 $2,388 3.36%

    Newport News Shipbuilding Employees lent most frequently to those with DTI ratios of 20-30%, with 182 originations. The next most common DTI ratio? 30-36%, with 133 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 523 $95,365,000 $182,342 $2,680 3.30%
    Not applicable 63 $27,435,000 $435,476 $0 3.79%
    Black 133 $23,405,000 $175,977 $2,869 3.28%
    Not provided 102 $17,710,000 $173,627 $2,599 3.45%
    Asian 12 $3,110,000 $259,167 $4,789 3.83%
    American Indian 6 $900,000 $150,000 $2,286 3.63%
    Native Hawaiian or Islander 1 $275,000 $275,000 $3,950 3.13%
    Other Asian 1 $155,000 $155,000 $3,692 5.25%

    Approval Rates

    Total approvals of all applications
    91.51%

    Newport News Shipbuilding Employees has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.41%

    Newport News Shipbuilding Employees has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 841 $168,355,000 $200,184

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    841 $168,355,000 $200,184

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 92 $8,340,000 $90,652 $1,017 3.82%
    40-60% 154 $29,460,000 $191,299 $2,829 2.96%
    60-80% 309 $83,495,000 $270,210 $3,560 3.17%
    80-100% 149 $39,235,000 $263,322 $4,246 2.97%
    Over 100% 5 $1,735,000 $347,000 $10,338 2.65%
    Under 20% 132 $6,090,000 $46,136 $110 4.44%