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
  • 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 (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.

    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

    91

    Origination Dollar Volume (All Markets)

    $34,535,000

    Awards

    DRAGAS MORTGAGE COMPANY 30 Year Conventional Loans gold DRAGAS MORTGAGE COMPANY 30 Year Conventional Loans bronze
    Show all (2) 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) 91 $34,535,000 $379,505 $8,266 4.96%
    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.

    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
    VA 43 $18,585,000 $432,209 $12,170 4.80%
    Conventional 38 $12,220,000 $321,579 $3,164 5.04%
    FHA 10 $3,730,000 $373,000 $10,360 5.36%

    For 2022, Dragas Mortgage Company's most frequently originated type of loan was VA, with 43 originations. Their 2nd most popular type was Conventional, with 38 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 91 $34,535,000 $379,505 $8,266 4.96%

    For 2022, Dragas Mortgage Company's most frequently cited loan purpose was Home Purchase, with 91 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 90 $34,220,000 $380,222 $8,338 4.95%
    15 Year 1 $315,000 $315,000 $1,940 6.00%

    For 2022, Dragas Mortgage Company's most frequently cited loan duration was 30 Year, with 90 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 44 $16,240,000 $369,091
    $5k+ 19 $8,495,000 $447,105
    $4k-5k 12 $4,760,000 $396,667
    $3k-4k 7 $1,795,000 $256,429
    $1k-2k 5 $1,565,000 $313,000

    Dragas Mortgage Company's average total fees were $8,338, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 28 $10,350,000 $369,643
    4-5% 27 $9,345,000 $346,111
    3-4% 21 $8,765,000 $417,381
    6-7% 12 $5,070,000 $422,500
    7-8% 2 $610,000 $305,000
    2.5-3% 1 $395,000 $395,000

    During 2022, Dragas Mortgage Company's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 5-6%, with 28 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 48 $15,440,000 $321,667 $6,419 4.99%
    $400k-600k 32 $15,660,000 $489,375 $11,931 4.99%
    $100k-200k 6 $890,000 $148,333 $2,406 4.58%
    $600k-1MM 4 $2,490,000 $622,500 $12,297 4.47%
    $100,000 or less 1 $55,000 $55,000 $2,373 7.00%

    2022 saw Dragas Mortgage Company place emphasis on $200k-400k loans with 48 originations, totaling $15,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $15,575,000 $420,946 $9,921 5.10%
    $75k-100k 18 $6,560,000 $364,444 $9,326 4.90%
    $150k-250k 12 $5,410,000 $450,833 $6,557 4.88%
    $50k-75k 12 $3,340,000 $278,333 $5,788 4.74%
    $250k+ 9 $3,225,000 $358,333 $7,226 4.85%
    $50k or less 3 $425,000 $141,667 $1,933 5.13%

    Dragas Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $75k-100k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 24 $9,960,000 $415,000 $11,818 4.84%
    30-36% 12 $4,020,000 $335,000 $5,043 4.92%
    20-30% 7 $2,715,000 $387,857 $7,068 4.68%
    38% 5 $1,915,000 $383,000 $10,652 5.75%
    48% 5 $1,745,000 $349,000 $6,568 5.28%
    >60% 4 $1,520,000 $380,000 $7,824 4.78%
    37% 4 $1,420,000 $355,000 $5,221 5.16%
    40% 4 $1,500,000 $375,000 $10,996 5.75%
    42% 4 $1,090,000 $272,500 $6,356 4.03%
    46% 4 $1,840,000 $460,000 $5,513 5.31%
    41% 3 $1,415,000 $471,667 $10,352 5.29%
    <20% 3 $1,215,000 $405,000 $6,711 4.33%
    47% 3 $1,025,000 $341,667 $6,006 4.75%
    44% 3 $1,345,000 $448,333 $8,014 4.96%
    36% 3 $725,000 $241,667 $6,639 6.04%
    43% 2 $790,000 $395,000 $6,108 3.94%
    49% 1 $295,000 $295,000 $1,815 4.25%

    Dragas Mortgage Company lent most frequently to those with DTI ratios of 50-60%, with 24 originations. The next most common DTI ratio? 30-36%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $15,025,000 $406,081 $8,954 5.04%
    Not provided 24 $8,420,000 $350,833 $7,936 4.77%
    Black 16 $6,080,000 $380,000 $9,065 4.70%
    Asian 13 $4,515,000 $347,308 $5,830 5.29%
    American Indian 1 $495,000 $495,000 $10,325 6.75%

    Approval Rates

    Total approvals of all applications
    90.63%

    Dragas Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.53%

    Dragas Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 91 $34,535,000 $379,505

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    91 $34,535,000 $379,505

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $995,000 $199,000 $2,284 5.00%
    40-60% 5 $985,000 $197,000 $1,834 4.13%
    60-80% 11 $3,915,000 $355,909 $3,929 5.13%
    80-100% 48 $19,010,000 $396,042 $6,748 4.96%
    Over 100% 21 $9,575,000 $455,952 $17,172 4.96%
    Under 20% 1 $55,000 $55,000 $2,373 7.00%