Dragas Mortgage Company Rates, Fees & Info
Virginia Beach, VALEI: 5493001IWK74A5N1RE93
Tax ID: 54-0835790
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Dragas Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Dragas Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top two markets are Virginia Beach and Washington .Dragas Mortgage Company 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. Dragas Mortgage Company is typically an average 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 relatively high 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.06% | 12/16/24 |
| 30 Year FHA Purchase | 7.40% | 12/16/24 |
| 30 Year VA Purchase | 6.53% | 12/16/24 |
| 15 Year Conventional Purchase | 6.14% | 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. | ||
Dragas Mortgage Company Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Dragas Mortgage Company. 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
81Origination Dollar Volume (All Markets)
$27,605,000Awards
DRAGAS MORTGAGE COMPANY - 2023
DRAGAS MORTGAGE COMPANY is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
Work for DRAGAS MORTGAGE COMPANY?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Dragas Mortgage Company's average 30 year fixed mortgage rate was
6.73%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.25%.
Relative Fees (Closing Costs)
Dragas Mortgage Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,623.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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) | 80 | $27,500,000 | $343,750 | $5,645 | 6.73% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,874 | 6.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against DRAGAS MORTGAGE COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 18
Similarity Rank: 65
Similarity Rank: 108
Similarity Rank: 288
Similarity Rank: 290
Similarity Rank: 672
Similarity Rank: 754
Similarity Rank: 1152
Similarity Rank: 1175
Similarity Rank: 1512
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 41 | $11,645,000 | $284,024 | $3,330 | 7.13% |
| VA | 31 | $13,035,000 | $420,484 | $7,523 | 6.36% |
| FHA | 9 | $2,925,000 | $325,000 | $9,524 | 6.15% |
For 2023, Dragas Mortgage Company's most frequently originated type of loan was Conventional, with 41 originations. Their 2nd most popular type was VA, with 31 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 81 | $27,605,000 | $340,802 | $5,623 | 6.73% |
For 2023, Dragas Mortgage Company's most frequently cited loan purpose was Home Purchase, with 81 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 81 | $27,605,000 | $340,802 | $5,623 | 6.73% |
For 2023, Dragas Mortgage Company's most frequently cited loan duration was 30 Year, with 81 originations.
Origination Fees/Closing Costs
Dragas Mortgage Company's average total fees were $5,623, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 24 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 30 | $9,740,000 | $324,667 |
| 7-8% | 29 | $9,575,000 | $330,172 |
| 5-6% | 16 | $6,640,000 | $415,000 |
| Over 8% | 4 | $1,110,000 | $277,500 |
| 4-5% | 2 | $540,000 | $270,000 |
During 2023, Dragas Mortgage Company's average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was 6-7%, with 30 originations.
Loan Sizing
2023 saw Dragas Mortgage Company place emphasis on $200k-400k loans with 46 originations, totaling $13,080,000 in origination value.
Applicant Income
Dragas Mortgage Company lent most frequently to those with incomes in the $75k-100k range, with 22 originations. The second most popular income band? $150k-250k, with 21 originations.
Applicant Debt to Income Ratio
Dragas Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.66%
Dragas Mortgage Company has an average approval rate.
Pick Rate
Approvals leading to origination75.31%
Dragas Mortgage Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 81 | $27,605,000 | $340,802 |