Tidewater Mortgage Services Rates, Fees & Info

VIRGINIA BEACH, VA

LEI: 5493005R34FLBMCPWB41

Tax ID: 54-1870627

4.6 stars - Updated: 4/13/24 - out of 5 stars, based on 45 reviews

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

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Mortgage Data

Review & Overview

Tidewater Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. Tidewater Mortgage Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Virginia Beach, Myrtle Beach, Richmond, Salisbury, and Harrisburg among others. We have data for 92 markets. (Some data included below & more in-depth data is available with an active subscription.)

Tidewater Mortgage Services 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. Tidewater Mortgage Services 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 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 6.72% 4/13/24
30 Year Conventional Refi 6.61% 4/13/24
30 Year Cash-out Refi 6.87% 4/13/24
30 Year FHA Purchase 7.53% 4/13/24
30 Year FHA Refi 7.23% 4/13/24
30 Year VA Purchase 6.38% 4/13/24
30 Year VA Refi 5.92% 4/13/24
30 Year USDA Purchase 6.89% 4/13/24
15 Year Conventional Purchase 6.17% 4/13/24
15 Year Conventional Refi 6.17% 4/13/24
15 Year Cash-out Refi 6.17% 4/13/24
15 Year VA Purchase 6.42% 4/13/24
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.

Tidewater Mortgage Services Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Tidewater Mortgage Services. 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

2,018

Origination Dollar Volume (All Markets)

$531,070,000

Awards

TIDEWATER MORTGAGE SERVICES 30 Year Conventional Loans silver TIDEWATER MORTGAGE SERVICES FHA Loans gold TIDEWATER MORTGAGE SERVICES 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Tidewater Mortgage Services's average 30 year fixed mortgage rate was 6.63%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.15%.

Relative Fees (Closing Costs)

Tidewater Mortgage Services's average total fees/closing costs for a 30 year fixed rate mortgage were $9,036.

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) 618 $189,490,000 $306,618 $9,242 6.71%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 192 $47,940,000 $249,688 $7,532 6.66%
Outside of Metro Areas 167 $34,735,000 $207,994 $9,508 6.70%
RICHMOND, VA (FHA|USDA|VA) 142 $30,480,000 $214,648 $8,769 6.50%
SALISBURY, MD-DE (FHA|USDA|VA) 99 $27,475,000 $277,525 $11,786 6.81%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 94 $24,400,000 $259,574 $8,210 6.78%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 57 $15,495,000 $271,842 $8,672 6.87%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 31 $12,465,000 $402,097 $9,457 6.97%
DOVER, DE (FHA|USDA|VA) 42 $11,530,000 $274,524 $11,960 6.58%
RALEIGH-CARY, NC (FHA|USDA|VA) 34 $10,980,000 $322,941 $8,841 6.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 29 $10,635,000 $366,724 $11,759 6.61%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 57 $10,105,000 $177,281 $5,916 4.72%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 28 $9,380,000 $335,000 $12,259 6.50%
YORK-HANOVER, PA (FHA|USDA|VA) 31 $7,625,000 $245,968 $7,969 6.71%
Oil City, PA (FHA|USDA|VA) 55 $7,385,000 $134,273 $5,476 6.78%
WINCHESTER, VA-WV (FHA|USDA|VA) 25 $6,215,000 $248,600 $9,963 6.69%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 21 $4,655,000 $221,667 $7,743 6.47%
PORT ST. LUCIE, FL (FHA|USDA|VA) 13 $4,055,000 $311,923 $11,183 6.12%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 13 $3,855,000 $296,538 $10,267 6.74%
GREENVILLE, NC (FHA|USDA|VA) 18 $3,690,000 $205,000 $6,249 4.98%
CUMBERLAND, MD-WV (FHA|USDA|VA) 20 $3,370,000 $168,500 $7,313 6.58%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 13 $3,295,000 $253,462 $8,183 6.22%
Warren, PA (FHA|USDA|VA) 23 $2,935,000 $127,609 $6,423 6.98%
Cambridge, MD (FHA|USDA|VA) 12 $2,730,000 $227,500 $10,744 7.40%
PITTSBURGH, PA (FHA|USDA|VA) 11 $2,505,000 $227,727 $6,706 6.78%
GETTYSBURG, PA (FHA|USDA|VA) 7 $2,205,000 $315,000 $12,685 6.70%
READING, PA (FHA|USDA|VA) 12 $2,150,000 $179,167 $7,670 6.93%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $2,085,000 $417,000 $9,628 6.50%
HARRISONBURG, VA (FHA|USDA|VA) 8 $1,920,000 $240,000 $8,496 6.17%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 6 $1,550,000 $258,333 $6,712 6.08%
Georgetown, SC (FHA|USDA|VA) 5 $1,535,000 $307,000 $8,519 6.85%
LEBANON, PA (FHA|USDA|VA) 6 $1,470,000 $245,000 $8,649 7.40%
WILMINGTON, NC (FHA|USDA|VA) 5 $1,465,000 $293,000 $4,842 5.75%
Danville, VA (FHA|USDA|VA) 4 $1,440,000 $360,000 $8,827 6.41%
STAUNTON, VA (FHA|USDA|VA) 8 $1,320,000 $165,000 $6,633 6.73%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,200,000 $300,000 $14,354 6.50%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $1,145,000 $381,667 $7,640 6.17%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 3 $1,115,000 $371,667 $12,424 6.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $1,110,000 $277,500 $5,905 7.19%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $1,030,000 $515,000 $6,196 6.94%
Lewistown, PA (FHA|USDA|VA) 4 $960,000 $240,000 $10,267 6.41%
Elizabeth City, NC (FHA|USDA|VA) 3 $945,000 $315,000 $14,389 6.71%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $860,000 $215,000 $9,649 4.97%
LANCASTER, PA (FHA|USDA|VA) 3 $845,000 $281,667 $10,813 6.63%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $820,000 $410,000 $8,931 6.69%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 4 $640,000 $160,000 $5,590 7.03%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $640,000 $320,000 $13,693 7.13%
MORGANTOWN, WV (FHA|USDA|VA) 1 $615,000 $615,000 $15,517 5.75%
SPARTANBURG, SC (FHA|USDA|VA) 3 $595,000 $198,333 $5,679 6.92%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $580,000 $290,000 $9,566 7.06%
SAVANNAH, GA (FHA|USDA|VA) 2 $580,000 $290,000 $5,292 6.81%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $580,000 $290,000 $4,281 7.06%
Meadville, PA (FHA|USDA|VA) 4 $570,000 $142,500 $6,623 6.47%
OCEAN CITY, NJ (FHA|USDA|VA) 2 $570,000 $285,000 $7,133 6.75%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $540,000 $270,000 $6,368 6.88%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $535,000 $178,333 $5,881 7.21%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $505,000 $505,000 $10,730 6.75%
ERIE, PA (FHA|USDA|VA) 2 $470,000 $235,000 $6,562 6.81%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $450,000 $112,500 $3,483 3.22%
ASHEVILLE, NC (FHA|USDA|VA) 2 $450,000 $225,000 $5,083 6.75%
Sayre, PA (FHA|USDA|VA) 2 $450,000 $225,000 $7,128 6.25%
Roanoke Rapids, NC (FHA|USDA|VA) 3 $445,000 $148,333 $4,769 4.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $435,000 $435,000 $4,770 8.13%
ALTOONA, PA (FHA|USDA|VA) 2 $430,000 $215,000 $9,421 6.88%
Easton, MD (FHA|USDA|VA) 1 $425,000 $425,000 $9,022 6.13%
LYNCHBURG, VA (FHA|USDA|VA) 1 $415,000 $415,000 $22,636 6.50%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $375,000 $375,000 $8,143 6.63%
Sanford, NC (FHA|USDA|VA) 1 $345,000 $345,000 $5,764 7.00%
BURLINGTON, NC (FHA|USDA|VA) 1 $305,000 $305,000 $7,707 6.00%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $305,000 $305,000 $4,620 7.50%
Sunbury, PA (FHA|USDA|VA) 1 $295,000 $295,000 $9,555 7.13%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $285,000 $285,000 $9,707 6.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $285,000 $285,000 $10,334 5.75%
NEW BERN, NC (FHA|USDA|VA) 1 $245,000 $245,000 $7,348 6.13%
OCALA, FL (FHA|USDA|VA) 2 $240,000 $120,000 $2,462 3.50%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $7,828 6.38%
VALDOSTA, GA (FHA|USDA|VA) 1 $225,000 $225,000 $6,755 7.50%
GOLDSBORO, NC (FHA|USDA|VA) 2 $210,000 $105,000 $4,432 3.75%
DuBois, PA (FHA|USDA|VA) 2 $210,000 $105,000 $3,633 6.19%
Pottsville, PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,856 7.00%
Morehead City, NC (FHA|USDA|VA) 1 $205,000 $205,000 $7,377 6.75%
Boone, NC (FHA|USDA|VA) 1 $205,000 $205,000 $6,299 7.63%
Newport, TN (FHA|USDA|VA) 1 $185,000 $185,000 $6,905 6.88%
Elkins, WV (FHA|USDA|VA) 1 $175,000 $175,000 $5,942 6.00%
SUMTER, SC (FHA|USDA|VA) 1 $155,000 $155,000 $10,415 7.63%
Fairmont, WV (FHA|USDA|VA) 1 $155,000 $155,000 $7,601 6.75%
Greeneville, TN (FHA|USDA|VA) 1 $155,000 $155,000 $3,840 7.13%
ROANOKE, VA (FHA|USDA|VA) 1 $145,000 $145,000 $6,008 7.25%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,832 7.13%
MORRISTOWN, TN (FHA|USDA|VA) 1 $135,000 $135,000 $7,031 7.00%
St. Marys, PA (FHA|USDA|VA) 1 $85,000 $85,000 $3,697 6.25%
Bradford, PA (FHA|USDA|VA) 1 $55,000 $55,000 $4,824 6.38%
Tidewater Mortgage Services's top markets include Virginia Beach, Myrtle Beach, Richmond, Salisbury, and Harrisburg among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against TIDEWATER MORTGAGE SERVICES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 21
    ACNB Bank
    Similarity Rank: 64
    ABNB Federal Credit Union
    Similarity Rank: 65
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 108
    SCIENT Federal Credit Union
    Similarity Rank: 110
    LEBANON
    Similarity Rank: 117
    County Savings Bank
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 156

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,059 $246,285,000 $232,564 $5,986 6.56%
    FHA 588 $156,240,000 $265,714 $11,941 6.72%
    VA 346 $123,400,000 $356,647 $12,288 6.49%
    USDA 20 $4,310,000 $215,500 $10,126 6.68%
    Reverse Mortgage 5 $835,000 $167,000 $0 7.36%

    For 2023, Tidewater Mortgage Services's most frequently originated type of loan was Conventional, with 1,059 originations. Their 2nd most popular type was FHA, with 588 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,945 $514,345,000 $264,445 $8,859 6.59%
    Home Improvement 53 $12,165,000 $229,528 $8,424 6.82%
    Refi 17 $3,845,000 $226,176 $9,225 6.90%
    Other 3 $715,000 $238,333 $0 7.45%

    For 2023, Tidewater Mortgage Services's most frequently cited loan purpose was Home Purchase, with 1,945 originations. The 2nd most popular reason was Home Improvement, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,957 $524,655,000 $268,091 $9,036 6.63%
    15 Year 31 $4,475,000 $144,355 $3,655 3.64%
    10 Year 22 $340,000 $15,455 $236 7.99%
    Other 6 $840,000 $140,000 $0 6.14%
    20 Year 2 $760,000 $380,000 $7,579 6.38%

    For 2023, Tidewater Mortgage Services's most frequently cited loan duration was 30 Year, with 1,957 originations. The 2nd most popular length was 15 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 607 $208,225,000 $343,040
    $1k-2k 569 $141,145,000 $248,058
    $3k-4k 257 $63,215,000 $245,973
    $2k-3k 246 $57,780,000 $234,878
    $4k-5k 203 $58,075,000 $286,084
    $<1k 130 $1,560,000 $12,000

    Tidewater Mortgage Services's average total fees were $9,036, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 607 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 1,147 $305,905,000 $266,700
    7-8% 537 $143,505,000 $267,235
    5-6% 243 $72,315,000 $297,593
    Over 8% 46 $8,620,000 $187,391
    <2.5% 44 $540,000 $12,273
    4-5% 1 $185,000 $185,000

    During 2023, Tidewater Mortgage Services's average interest rate for loans was 6.63%, while their most frequently originated rate bucket for loans was 6-7%, with 1,147 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,085 $306,755,000 $282,724 $10,115 6.75%
    $100k-200k 444 $68,210,000 $153,626 $6,401 6.64%
    $400k-600k 228 $107,880,000 $473,158 $12,577 6.63%
    $100,000 or less 202 $7,010,000 $34,703 $1,701 5.66%
    $600k-1MM 57 $39,115,000 $686,228 $13,968 6.61%
    $1MM+ 2 $2,100,000 $1,050,000 $12,284 6.56%

    2023 saw Tidewater Mortgage Services place emphasis on $200k-400k loans with 1,085 originations, totaling $306,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 570 $115,680,000 $202,947 $8,119 6.53%
    $75k-100k 470 $115,870,000 $246,532 $9,126 6.56%
    $100k-150k 440 $136,460,000 $310,136 $10,011 6.70%
    $150k-250k 242 $96,740,000 $399,752 $10,298 6.76%
    $50k or less 214 $29,650,000 $138,551 $5,966 6.34%
    $250k+ 81 $36,495,000 $450,556 $9,296 6.90%

    Tidewater Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 570 originations. The second most popular income band? $75k-100k, with 470 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 274 $68,070,000 $248,431 $7,851 6.60%
    50-60% 264 $83,220,000 $315,227 $12,733 6.54%
    20-30% 233 $61,385,000 $263,455 $7,579 6.65%
    49% 122 $33,080,000 $271,148 $9,020 6.67%
    44% 115 $31,915,000 $277,522 $8,565 6.55%
    42% 102 $26,490,000 $259,706 $9,493 6.60%
    48% 101 $25,595,000 $253,416 $8,891 6.54%
    47% 98 $27,500,000 $280,612 $9,500 6.82%
    46% 94 $24,690,000 $262,660 $8,992 6.65%
    43% 87 $20,475,000 $235,345 $7,543 6.56%
    45% 86 $24,110,000 $280,349 $8,694 6.78%
    40% 74 $18,190,000 $245,811 $7,947 6.50%
    <20% 68 $10,560,000 $155,294 $4,878 5.98%
    37% 67 $15,105,000 $225,448 $7,620 6.66%
    41% 56 $13,630,000 $243,393 $7,831 6.54%
    39% 55 $14,775,000 $268,636 $9,221 6.72%
    38% 54 $12,230,000 $226,481 $8,227 6.74%
    36% 53 $14,305,000 $269,906 $7,692 6.52%
    >60% 12 $5,080,000 $423,333 $15,755 6.43%

    Tidewater Mortgage Services lent most frequently to those with DTI ratios of 30-36%, with 274 originations. The next most common DTI ratio? 50-60%, with 264 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,366 $353,840,000 $259,034 $8,544 6.55%
    Black 366 $96,150,000 $262,705 $9,974 6.75%
    Not provided 210 $59,130,000 $281,571 $8,787 6.61%
    Asian 65 $18,685,000 $287,462 $8,675 6.64%
    American Indian 7 $1,885,000 $269,286 $10,632 6.59%
    Native Hawaiian or Islander 3 $1,165,000 $388,333 $16,948 6.88%
    Chinese 1 $215,000 $215,000 $4,313 6.63%

    Approval Rates

    Total approvals of all applications
    95.47%

    Tidewater Mortgage Services 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
    82.36%

    Tidewater Mortgage Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,018 $531,070,000 $263,167

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,018 $531,070,000 $263,167

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 84 $11,980,000 $142,619 $5,158 6.62%
    40-60% 123 $28,675,000 $233,130 $6,767 6.64%
    60-80% 303 $86,035,000 $283,944 $8,091 6.81%
    80-100% 1,263 $365,485,000 $289,378 $9,767 6.71%
    Over 100% 106 $36,710,000 $346,321 $16,474 6.51%
    Under 20% 139 $2,185,000 $15,719 $343 5.10%