Dragas Mortgage Company Rates, Fees & Info

Virginia Beach, VA

LEI: 5493001IWK74A5N1RE93

Tax ID: 54-0835790

2.2 stars - Updated: 4/17/25 - out of 5 stars, based on 10 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Dragas Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Dragas Mortgage Company has an average proportion of conventional loans. They have an average proportion of FHA loans. Their top (well, only) market is Virginia Beach.

    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 a high 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
    30 Year Conventional Purchase 6.84% 4/17/25
    30 Year FHA Purchase 6.69% 4/17/25
    30 Year VA Purchase 6.01% 4/17/25
    15 Year Conventional Purchase 6.00% 4/17/25
    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

    109

    Origination Dollar Volume (All Markets)

    $38,425,000

    Awards

    DRAGAS MORTGAGE COMPANY FHA Loans gold DRAGAS MORTGAGE COMPANY VA Loans bronze DRAGAS MORTGAGE COMPANY FHA Loans gold DRAGAS MORTGAGE COMPANY VA Loans silver
    Show all (4) awards

    Relative Rate

    Dragas Mortgage Company's average 30 year fixed mortgage rate was 6.18%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.37%.

    Relative Fees (Closing Costs)

    Dragas Mortgage Company's average total fees/closing costs for a 30 year fixed rate mortgage were $12,247.

    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 $8,356.

    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) 109 $38,425,000 $352,523 $12,247 6.18%
    Dragas Mortgage Company's top markets include and Virginia Beach among others.

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

    • 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.

    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 55
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 280
    ABNB Federal Credit Union
    Similarity Rank: 320
    Chesapeake Bank
    Similarity Rank: 500
    Virginia Credit Union, Inc.
    Similarity Rank: 864
    Bronco Federal Credit Union
    Similarity Rank: 1000
    STATE EMPLOYEES'
    Similarity Rank: 1246
    Credence Funding Corporation
    Similarity Rank: 1296
    1ST ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 1397
    Southern Bank and Trust Company
    Similarity Rank: 1435

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    VA 52 $20,260,000 $389,615 $14,046 5.96%
    Conventional 31 $9,865,000 $318,226 $6,740 6.78%
    FHA 26 $8,300,000 $319,231 $15,215 5.89%

    For 2024, Dragas Mortgage Company's most frequently originated type of loan was VA, with 52 originations. Their 2nd most popular type was Conventional, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 109 $38,425,000 $352,523 $12,247 6.18%

    For 2024, Dragas Mortgage Company's most frequently cited loan purpose was Home Purchase, with 109 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 109 $38,425,000 $352,523 $12,247 6.18%

    For 2024, Dragas Mortgage Company's most frequently cited loan duration was 30 Year, with 109 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 35 $10,305,000 $294,429
    $4k-5k 25 $8,255,000 $330,200
    $5k+ 24 $13,530,000 $563,750
    $2k-3k 23 $5,655,000 $245,870
    $1k-2k 2 $680,000 $340,000

    Dragas Mortgage Company's average total fees were $12,247, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 35 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 49 $18,785,000 $383,367
    5-6% 48 $15,230,000 $317,292
    7-8% 9 $3,515,000 $390,556
    4-5% 2 $580,000 $290,000
    Over 8% 1 $315,000 $315,000

    During 2024, Dragas Mortgage Company's average interest rate for loans was 6.18%, while their most frequently originated rate bucket for loans was 6-7%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 75 $22,685,000 $302,467 $12,492 6.09%
    $400k-600k 17 $8,825,000 $519,118 $12,549 6.45%
    $600k-1MM 9 $5,715,000 $635,000 $15,743 6.43%
    $100k-200k 7 $1,105,000 $157,857 $5,502 6.13%
    $100,000 or less 1 $95,000 $95,000 $4,458 5.75%

    2024 saw Dragas Mortgage Company place emphasis on $200k-400k loans with 75 originations, totaling $22,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $16,770,000 $364,565 $12,845 6.11%
    $75k-100k 21 $5,905,000 $281,190 $12,139 6.26%
    $150k-250k 19 $8,455,000 $445,000 $12,352 6.34%
    $50k-75k 14 $4,080,000 $291,429 $14,205 5.75%
    $250k+ 5 $2,705,000 $541,000 $7,400 7.20%
    $50k or less 4 $510,000 $127,500 $4,633 5.88%

    Dragas Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $75k-100k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 19 $7,685,000 $404,474 $14,405 6.03%
    30-36% 13 $4,525,000 $348,077 $9,840 6.24%
    20-30% 12 $4,000,000 $333,333 $11,446 6.25%
    46% 9 $3,365,000 $373,889 $10,574 6.11%
    39% 7 $2,205,000 $315,000 $9,377 6.71%
    45% 7 $2,405,000 $343,571 $10,920 6.00%
    44% 6 $2,250,000 $375,000 $15,792 6.15%
    41% 6 $2,460,000 $410,000 $16,311 6.21%
    47% 5 $1,475,000 $295,000 $8,810 6.45%
    43% 5 $1,515,000 $303,000 $14,446 5.80%
    38% 4 $1,450,000 $362,500 $13,606 6.22%
    48% 4 $1,250,000 $312,500 $17,237 5.88%
    42% 3 $1,235,000 $411,667 $11,731 6.25%
    37% 3 $965,000 $321,667 $10,549 6.67%
    40% 3 $805,000 $268,333 $9,672 6.08%
    49% 2 $640,000 $320,000 $13,265 5.56%
    <20% 1 $195,000 $195,000 $4,034 6.63%

    Dragas Mortgage Company lent most frequently to those with DTI ratios of 50-60%, with 19 originations. The next most common DTI ratio? 30-36%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 48 $16,340,000 $340,417 $11,322 6.23%
    White 32 $11,970,000 $374,063 $12,515 6.11%
    Asian 15 $5,775,000 $385,000 $14,191 6.26%
    Black 13 $4,165,000 $320,385 $13,141 6.07%
    American Indian 1 $175,000 $175,000 $7,272 5.75%

    Approval Rates

    Total approvals of all applications
    97.60%

    Dragas Mortgage Company 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
    88.07%

    Dragas Mortgage Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 109 $38,425,000 $352,523

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    109 $38,425,000 $352,523

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $395,000 $131,667 $4,031 6.21%
    40-60% 7 $1,615,000 $230,714 $5,419 6.25%
    60-80% 15 $4,775,000 $318,333 $7,900 6.86%
    80-100% 66 $25,160,000 $381,212 $12,501 6.08%
    Over 100% 18 $6,480,000 $360,000 $18,961 5.92%