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

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  • 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 Home Improvement, Other, and Home Purchase loans. Newport News Shipbuilding Employees has a high proportion of conventional loans. Their top markets by origination volume include: Virginia Beach, Charlottesville, Richmond, Kill Devil Hills, and Washington among others. We have data for 13 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% 12/16/24
    30 Year Conventional Purchase 6.45% 12/16/24
    30 Year Conventional Refi 6.47% 12/16/24
    30 Year Cash-out Refi 6.83% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 5.78% 12/16/24
    30 Year VA Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.72% 12/16/24
    15 Year Conventional Refi 6.34% 12/16/24
    15 Year Cash-out Refi 6.34% 12/16/24
    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

    1,845

    Origination Dollar Volume (All Markets)

    $233,745,000

    Awards

    NEWPORT NEWS SHIPBUILDING EMPLOYEES 30 Year Conventional 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) 1,704 $204,340,000 $119,918 $2,957 5.03%
    Outside of Metro Areas 105 $13,175,000 $125,476 $1,942 5.23%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $5,855,000 $1,951,667 $3,261 5.97%
    RICHMOND, VA (FHA|USDA|VA) 17 $4,805,000 $282,647 $5,801 4.78%
    Kill Devil Hills, NC (FHA|USDA|VA) 6 $2,880,000 $480,000 $6,279 3.85%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $805,000 $268,333 $4,300 4.65%
    ROANOKE, VA (FHA|USDA|VA) 1 $465,000 $465,000 $8,735 3.25%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $415,000 $415,000 $4,527 5.88%
    Roanoke Rapids, NC (FHA|USDA|VA) 1 $385,000 $385,000 $7,672 4.25%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $295,000 $295,000 $3,611 5.63%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.00%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,360 3.63%
    Elizabeth City, NC (FHA|USDA|VA) 1 $85,000 $85,000 $1,710 2.75%
    Newport News Shipbuilding Employees's top markets include Virginia Beach, Charlottesville, Richmond, Kill Devil Hills, and Washington 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.

    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 4
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 105
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 245
    LANGLEY
    Similarity Rank: 396
    Chesapeake Bank
    Similarity Rank: 428
    ABNB Federal Credit Union
    Similarity Rank: 738
    Bronco Federal Credit Union
    Similarity Rank: 834
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 1053
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 1152
    STATE EMPLOYEES'
    Similarity Rank: 1536

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,223 $121,945,000 $99,710 n/a 5.12%
    Conventional 617 $110,905,000 $179,749 $3,030 4.85%
    VA 5 $895,000 $179,000 $4,991 4.43%

    For 2022, Newport News Shipbuilding Employees's most frequently originated type of loan was HELOC, with 1,223 originations. Their 2nd most popular type was Conventional, with 617 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 827 $73,465,000 $88,833 $1,041 5.06%
    Other 529 $49,585,000 $93,733 $406 5.30%
    Home Purchase 229 $64,095,000 $279,891 $4,692 4.87%
    Refi 136 $23,040,000 $169,412 $2,300 4.75%
    Cash Out Refi 124 $23,560,000 $190,000 $3,805 4.31%

    For 2022, Newport News Shipbuilding Employees's most frequently cited loan purpose was Home Improvement, with 827 originations. The 2nd most popular reason was Other, with 529 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,106 $99,650,000 $90,099 $1,542 5.15%
    30 Year 325 $74,465,000 $229,123 $4,343 4.82%
    15 Year 238 $25,230,000 $106,008 $1,346 4.95%
    10 Year 126 $25,830,000 $205,000 $583 4.98%
    5 Year 25 $855,000 $34,200 $540 4.40%
    20 Year 12 $2,010,000 $167,500 $3,762 4.26%
    30+ year 11 $5,515,000 $501,364 $10,718 3.70%
    1 Year 2 $190,000 $95,000 $0 4.94%

    For 2022, Newport News Shipbuilding Employees's most frequently cited loan duration was Other, with 1,106 originations. The 2nd most popular length was 30 Year, with 325 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 404 $46,520,000 $115,149
    $1k-2k 81 $18,595,000 $229,568
    $2k-3k 38 $7,920,000 $208,421
    $3k-4k 21 $5,465,000 $260,238
    $5k+ 20 $9,990,000 $499,500
    $4k-5k 7 $2,135,000 $305,000

    Newport News Shipbuilding Employees's average total fees were $4,343, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 404 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 493 $64,015,000 $129,848
    3-4% 466 $60,340,000 $129,485
    5-6% 409 $56,385,000 $137,861
    6-7% 261 $27,465,000 $105,230
    7-8% 127 $11,975,000 $94,291
    2.5-3% 49 $11,005,000 $224,592
    Over 8% 34 $1,770,000 $52,059
    <2.5% 6 $790,000 $131,667

    During 2022, Newport News Shipbuilding Employees's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 493 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,068 $56,820,000 $53,202 $768 5.19%
    $100k-200k 452 $60,890,000 $134,712 $2,784 4.81%
    $200k-400k 256 $68,770,000 $268,633 $4,181 4.87%
    $400k-600k 42 $19,790,000 $471,190 $7,223 4.56%
    $600k-1MM 21 $14,695,000 $699,762 $7,764 4.57%
    $1MM+ 6 $12,780,000 $2,130,000 $13,509 4.42%

    2022 saw Newport News Shipbuilding Employees place emphasis on $100,000 or less loans with 1,068 originations, totaling $56,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 471 $54,815,000 $116,380 $3,423 5.01%
    $50k-75k 388 $32,500,000 $83,763 $2,744 5.17%
    $75k-100k 333 $31,745,000 $95,330 $2,788 5.15%
    $150k-250k 307 $46,445,000 $151,287 $2,904 4.94%
    $50k or less 160 $13,070,000 $81,688 $3,066 4.93%
    $250k+ 105 $30,835,000 $293,667 $4,241 4.91%

    Newport News Shipbuilding Employees lent most frequently to those with incomes in the $100k-150k range, with 471 originations. The second most popular income band? $50k-75k, with 388 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 374 $48,160,000 $128,770 $3,580 4.90%
    30-36% 314 $37,020,000 $117,898 $3,392 4.87%
    <20% 164 $22,110,000 $134,817 $3,572 4.56%
    49% 81 $9,855,000 $121,667 $2,881 5.57%
    41% 77 $7,465,000 $96,948 $1,815 4.79%
    43% 76 $8,590,000 $113,026 $3,165 5.21%
    46% 69 $6,375,000 $92,391 $1,892 5.28%
    45% 67 $7,765,000 $115,896 $3,565 5.40%
    39% 66 $6,070,000 $91,970 $2,755 5.10%
    44% 65 $6,885,000 $105,923 $2,129 5.42%
    42% 60 $7,040,000 $117,333 $3,014 4.90%
    38% 58 $7,170,000 $123,621 $2,997 5.21%
    36% 57 $5,705,000 $100,088 $2,377 5.43%
    47% 54 $5,540,000 $102,593 $2,185 5.51%
    40% 51 $6,565,000 $128,725 $3,802 5.19%
    48% 47 $5,265,000 $112,021 $3,533 5.44%
    37% 46 $5,700,000 $123,913 $2,685 5.30%
    50-60% 41 $5,985,000 $145,976 $2,846 4.99%
    >60% 24 $2,420,000 $100,833 $3,586 4.56%

    Newport News Shipbuilding Employees lent most frequently to those with DTI ratios of 20-30%, with 374 originations. The next most common DTI ratio? 30-36%, with 314 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,170 $143,920,000 $123,009 $3,225 5.02%
    Black 339 $31,845,000 $93,938 $2,724 5.11%
    Not provided 238 $29,740,000 $124,958 $2,796 5.05%
    Not applicable 51 $21,415,000 $419,902 $0 4.80%
    Asian 26 $3,340,000 $128,462 $2,359 5.15%
    Native Hawaiian or Islander 8 $1,320,000 $165,000 $65 4.39%
    American Indian 9 $1,075,000 $119,444 $2,575 4.72%
    Other Pacific Islander 1 $645,000 $645,000 $10,913 3.50%
    Asian Indian 1 $205,000 $205,000 $0 3.25%
    Vietnamese 1 $155,000 $155,000 $0 4.79%
    Filipino 1 $85,000 $85,000 $0 4.79%

    Approval Rates

    Total approvals of all applications
    90.63%

    Newport News Shipbuilding Employees has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.10%

    Newport News Shipbuilding Employees has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $65,000 $65,000
    NA 1,844 $233,680,000 $126,725

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,845 $233,745,000 $126,691

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 615 $67,595,000 $109,911 $938 5.08%
    40-60% 172 $39,880,000 $231,860 $2,483 4.70%
    60-80% 190 $45,830,000 $241,211 $4,357 4.58%
    80-100% 151 $42,045,000 $278,444 $4,751 4.87%
    Under 20% 717 $38,395,000 $53,550 $279 5.22%