Dragas Mortgage Company Rates, Fees & Info

Virginia Beach, VA

LEI: 5493001IWK74A5N1RE93

Tax ID: 54-0835790

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
  • Complaints
  • 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 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 an above 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 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.

    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% 5/4/24
    30 Year FHA Purchase 7.40% 5/4/24
    30 Year VA Purchase 6.53% 5/4/24
    15 Year Conventional Purchase 6.14% 5/4/24
    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

    157

    Origination Dollar Volume (All Markets)

    $42,035,000

    Awards

    DRAGAS MORTGAGE COMPANY 30 Year Conventional Loans gold DRAGAS MORTGAGE COMPANY 30 Year Conventional Loans silver DRAGAS MORTGAGE COMPANY FHA Loans silver DRAGAS MORTGAGE COMPANY FHA Loans bronze
    Show all (4) 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) 153 $41,245,000 $269,575 $5,163 4.67%
    Outside of Metro Areas 3 $535,000 $178,333 $4,089 5.38%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $255,000 $255,000 $2,680 4.25%
    Dragas Mortgage Company's top markets include Virginia Beach and Washington 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.

    ABNB Federal Credit Union
    Similarity Rank: 40
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 123
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 147
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 666
    Virginia Credit Union, Inc.
    Similarity Rank: 750
    Virginia Commonwealth Bank
    Similarity Rank: 760
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 1015
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 1352
    SimonTowne Mortgage, LLc
    Similarity Rank: 1362
    LANGLEY
    Similarity Rank: 1700

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 77 $17,905,000 $232,532 $2,189 4.92%
    VA 53 $17,605,000 $332,170 $8,287 4.46%
    FHA 27 $6,525,000 $241,667 $7,570 4.44%

    For 2018, Dragas Mortgage Company's most frequently originated type of loan was Conventional, with 77 originations. Their 2nd most popular type was VA, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 153 $40,945,000 $267,614 $5,173 4.68%
    Cash Out Refi 3 $835,000 $278,333 $3,594 4.83%
    Refi 1 $255,000 $255,000 $2,721 4.75%

    For 2018, Dragas Mortgage Company's most frequently cited loan purpose was Home Purchase, with 153 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 151 $40,665,000 $269,305 $5,242 4.69%
    15 Year 5 $1,075,000 $215,000 $2,172 4.58%
    20 Year 1 $295,000 $295,000 $2,738 4.38%

    For 2018, Dragas Mortgage Company's most frequently cited loan duration was 30 Year, with 151 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 144 $38,110,000 $264,653
    $1k-2k 4 $1,160,000 $290,000
    $2k-3k 4 $880,000 $220,000
    $4k-5k 3 $1,225,000 $408,333
    $3k-4k 2 $660,000 $330,000

    Dragas Mortgage Company's average total fees were $5,242, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 144 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 121 $33,265,000 $274,917
    5-6% 21 $5,285,000 $251,667
    3-4% 14 $3,340,000 $238,571
    6-7% 1 $145,000 $145,000

    During 2018, Dragas Mortgage Company's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 4-5%, with 121 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 110 $30,230,000 $274,818 $5,138 4.65%
    $100k-200k 25 $3,965,000 $158,600 $2,576 4.79%
    $400k-600k 14 $6,080,000 $434,286 $10,927 4.70%
    $100,000 or less 6 $210,000 $35,000 $1,202 4.83%
    $600k-1MM 2 $1,550,000 $775,000 $7,545 4.63%

    2018 saw Dragas Mortgage Company place emphasis on $200k-400k loans with 110 originations, totaling $30,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $15,675,000 $319,898 $6,362 4.67%
    $50k-75k 39 $9,275,000 $237,821 $5,094 4.65%
    $75k-100k 32 $7,850,000 $245,313 $4,265 4.77%
    $150k-250k 17 $5,675,000 $333,824 $5,544 4.82%
    $50k or less 17 $2,635,000 $155,000 $3,112 4.54%
    $250k+ 3 $925,000 $308,333 $2,629 4.50%

    Dragas Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $50k-75k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $7,365,000 $237,581 $3,783 4.78%
    30-36% 23 $6,425,000 $279,348 $5,146 4.65%
    50-60% 16 $5,300,000 $331,250 $7,589 4.42%
    39% 11 $2,725,000 $247,727 $7,058 4.38%
    48% 8 $2,030,000 $253,750 $5,578 4.59%
    37% 7 $1,745,000 $249,286 $3,488 4.88%
    <20% 6 $1,030,000 $171,667 $2,852 4.75%
    42% 6 $1,320,000 $220,000 $2,739 4.88%
    43% 6 $1,510,000 $251,667 $3,453 4.83%
    36% 5 $1,575,000 $315,000 $7,075 4.68%
    >60% 5 $1,755,000 $351,000 $7,441 4.45%
    49% 5 $1,275,000 $255,000 $6,344 4.50%
    40% 5 $1,705,000 $341,000 $4,127 4.75%
    41% 5 $1,225,000 $245,000 $2,564 5.08%
    45% 5 $1,175,000 $235,000 $3,909 4.90%
    38% 5 $1,435,000 $287,000 $3,824 4.85%
    44% 3 $845,000 $281,667 $6,452 4.96%
    46% 3 $1,085,000 $361,667 $8,987 4.67%
    47% 2 $510,000 $255,000 $10,233 4.44%

    Dragas Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 96 $26,700,000 $278,125 $5,262 4.70%
    Asian 30 $7,930,000 $264,333 $4,301 4.63%
    Black 19 $4,215,000 $221,842 $5,430 4.71%
    Not provided 4 $1,160,000 $290,000 $6,838 4.41%
    Filipino 2 $720,000 $360,000 $10,291 5.06%
    Asian Indian 3 $635,000 $211,667 $3,505 4.83%
    American Indian 2 $570,000 $285,000 $2,801 4.50%
    Korean 1 $105,000 $105,000 $1,378 4.88%

    Approval Rates

    Total approvals of all applications
    93.92%

    Dragas Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.72%

    Dragas Mortgage Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 157 $42,035,000 $267,739

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 157 $42,035,000 $267,739

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $360,000 $180,000 $2,049 4.81%
    40-60% 11 $1,925,000 $175,000 $1,920 4.81%
    60-80% 16 $3,780,000 $236,250 $2,676 4.94%
    80-100% 104 $29,030,000 $279,135 $4,539 4.67%
    Over 100% 20 $6,910,000 $345,500 $13,111 4.51%
    Under 20% 4 $30,000 $7,500 $182 4.63%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    DRAGAS MORTGAGE COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%