Tidewater Mortgage Services Rates, Fees & Info

VIRGINIA BEACH, VA

LEI: 5493005R34FLBMCPWB41

Tax ID: 54-1870627

3.8 stars - out of 5 stars, based on 67 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Tidewater Mortgage Services is a small 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 include Virginia Beach, Richmond, Washington, Myrtle Beach, and New York among others. Tidewater Mortgage Services has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Tidewater Mortgage Services is typically a high fee lendor.


Originations

4,459

Origination Dollar Volume (All Markets)

$1,140,325,000
Show all (8) awards

Relative Rate

Tidewater Mortgage Services 's average 30 year fixed rate mortgage of loans were 3.08%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.07%.

Relative Fees

Tidewater Mortgage Services 's average total fees for a 30 year fixed rate mortgage are $6,113.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2,139 $582,745,000 $272,438 $6,084 3.02%
RICHMOND, VA (FHA|USDA|VA) 299 $64,575,000 $215,970 $5,417 3.17%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 141 $49,265,000 $349,397 $6,447 3.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 192 $47,480,000 $247,292 $4,538 3.07%
Outside of Metro Areas 211 $44,945,000 $213,009 $8,096 3.14%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 111 $40,245,000 $362,568 $6,061 3.06%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 171 $35,365,000 $206,813 $5,808 3.05%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 146 $35,090,000 $240,342 $5,668 3.19%
RALEIGH-CARY, NC (FHA|USDA|VA) 113 $34,155,000 $302,257 $3,672 2.93%
SALISBURY, MD-DE (FHA|USDA|VA) 138 $32,730,000 $237,174 $7,880 3.33%
DOVER, DE (FHA|USDA|VA) 73 $17,895,000 $245,137 $7,143 3.26%
ERIE, PA (FHA|USDA|VA) 85 $13,405,000 $157,706 $4,984 3.06%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 43 $12,895,000 $299,884 $6,880 3.02%
YORK-HANOVER, PA (FHA|USDA|VA) 51 $11,155,000 $218,725 $5,824 3.03%
Elizabeth City, NC (FHA|USDA|VA) 43 $9,845,000 $228,953 $6,423 2.95%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 45 $9,655,000 $214,556 $4,965 3.04%
WINCHESTER, VA-WV (FHA|USDA|VA) 39 $7,585,000 $194,487 $5,205 3.15%
Oil City, PA (FHA|USDA|VA) 54 $6,580,000 $121,852 $4,844 3.06%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 28 $5,360,000 $191,429 $6,180 2.94%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 14 $4,170,000 $297,857 $5,489 3.05%
Kill Devil Hills, NC (FHA|USDA|VA) 14 $4,160,000 $297,143 $4,721 2.89%
Warren, PA (FHA|USDA|VA) 29 $4,025,000 $138,793 $5,103 3.08%
READING, PA (FHA|USDA|VA) 18 $3,800,000 $211,111 $5,252 3.44%
GETTYSBURG, PA (FHA|USDA|VA) 14 $3,270,000 $233,571 $6,188 2.93%
LANCASTER, PA (FHA|USDA|VA) 14 $3,190,000 $227,857 $6,610 3.15%
LYNCHBURG, VA (FHA|USDA|VA) 15 $3,075,000 $205,000 $7,938 3.12%
Cambridge, MD (FHA|USDA|VA) 12 $2,750,000 $229,167 $7,353 3.06%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 9 $2,565,000 $285,000 $6,499 3.21%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $2,525,000 $280,556 $4,651 3.17%
ROANOKE, VA (FHA|USDA|VA) 12 $2,510,000 $209,167 $4,178 3.18%
Easton, MD (FHA|USDA|VA) 9 $2,275,000 $252,778 $4,764 3.01%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $2,215,000 $443,000 $5,182 2.95%
OCEAN CITY, NJ (FHA|USDA|VA) 4 $1,730,000 $432,500 $6,158 2.91%
CUMBERLAND, MD-WV (FHA|USDA|VA) 10 $1,730,000 $173,000 $5,748 3.14%
STATE COLLEGE, PA (FHA|USDA|VA) 6 $1,700,000 $283,333 $4,874 2.73%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 5 $1,665,000 $333,000 $2,865 3.05%
PITTSBURGH, PA (FHA|USDA|VA) 10 $1,650,000 $165,000 $4,997 3.20%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 7 $1,625,000 $232,143 $4,433 3.09%
MORGANTOWN, WV (FHA|USDA|VA) 3 $1,255,000 $418,333 $4,122 2.67%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 5 $1,245,000 $249,000 $6,556 3.13%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 5 $1,165,000 $233,000 $3,525 3.05%
LEBANON, PA (FHA|USDA|VA) 4 $1,130,000 $282,500 $9,770 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,125,000 $375,000 $12,457 2.79%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $1,055,000 $351,667 $5,582 3.00%
STAUNTON, VA (FHA|USDA|VA) 4 $890,000 $222,500 $5,039 3.06%
WILMINGTON, NC (FHA|USDA|VA) 3 $865,000 $288,333 $4,570 3.33%
JACKSONVILLE, NC (FHA|USDA|VA) 3 $805,000 $268,333 $6,823 2.79%
Danville, VA (FHA|USDA|VA) 4 $760,000 $190,000 $8,263 2.81%
Meadville, PA (FHA|USDA|VA) 6 $740,000 $123,333 $5,861 3.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $730,000 $365,000 $4,065 3.63%
FAYETTEVILLE, NC (FHA|USDA|VA) 3 $725,000 $241,667 $7,345 2.50%
SPARTANBURG, SC (FHA|USDA|VA) 3 $715,000 $238,333 $7,077 3.33%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $715,000 $238,333 $3,983 2.63%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $700,000 $350,000 $4,587 2.88%
EAST STROUDSBURG, PA (FHA|USDA|VA) 4 $670,000 $167,500 $4,619 3.19%
THE VILLAGES, FL (FHA|USDA|VA) 2 $630,000 $315,000 $2,302 2.94%
Brevard, NC (FHA|USDA|VA) 1 $615,000 $615,000 $4,468 2.25%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $550,000 $275,000 $6,444 3.19%
PANAMA CITY, FL (FHA|USDA|VA) 1 $525,000 $525,000 $6,807 2.75%
New Castle, PA (FHA|USDA|VA) 2 $520,000 $260,000 $6,814 3.13%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $520,000 $260,000 $3,393 2.88%
Newberry, SC (FHA|USDA|VA) 2 $480,000 $240,000 $7,609 3.94%
Georgetown, SC (FHA|USDA|VA) 1 $475,000 $475,000 $2,848 2.88%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $470,000 $235,000 $2,824 3.06%
Lewistown, PA (FHA|USDA|VA) 1 $465,000 $465,000 $5,628 3.25%
HARRISONBURG, VA (FHA|USDA|VA) 1 $415,000 $415,000 $4,043 3.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $410,000 $205,000 $4,465 2.94%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $385,000 $385,000 $4,181 3.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $380,000 $190,000 $4,082 3.50%
Jefferson, GA (FHA|USDA|VA) 1 $355,000 $355,000 $4,887 2.88%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $355,000 $355,000 $11,858 3.25%
GREENVILLE, NC (FHA|USDA|VA) 2 $330,000 $165,000 $6,529 2.56%
Bradford, PA (FHA|USDA|VA) 3 $315,000 $105,000 $3,757 3.17%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $310,000 $155,000 $5,912 3.13%
DuBois, PA (FHA|USDA|VA) 2 $290,000 $145,000 $3,952 3.13%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $285,000 $285,000 $3,895 2.38%
Lumberton, NC (FHA|USDA|VA) 1 $265,000 $265,000 $11,618 3.38%
Pottsville, PA (FHA|USDA|VA) 2 $260,000 $130,000 $4,741 3.44%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $260,000 $130,000 $2,759 3.13%
KNOXVILLE, TN (FHA|USDA|VA) 1 $255,000 $255,000 $3,254 2.88%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $245,000 $245,000 $6,908 3.00%
Sanford, NC (FHA|USDA|VA) 1 $245,000 $245,000 $2,612 3.13%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $235,000 $235,000 $7,830 2.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,798 2.75%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $3,781 2.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,764 3.38%
SUMTER, SC (FHA|USDA|VA) 1 $185,000 $185,000 $3,491 3.50%
Moultrie, GA (FHA|USDA|VA) 1 $185,000 $185,000 $5,675 2.88%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $175,000 $175,000 $6,953 3.75%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $175,000 $175,000 $3,339 3.38%
Lock Haven, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,943 3.25%
SAVANNAH, GA (FHA|USDA|VA) 1 $175,000 $175,000 $4,094 2.75%
ALTOONA, PA (FHA|USDA|VA) 1 $165,000 $165,000 $5,288 2.88%
Washington, NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,958 2.75%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,787 2.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $125,000 $125,000 $3,338 3.13%
Martinsville, VA (FHA|USDA|VA) 2 $90,000 $45,000 $3,022 2.88%
Elkins, WV (FHA|USDA|VA) 1 $85,000 $85,000 $3,326 3.50%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $85,000 $85,000 $5,721 3.75%
Sayre, PA (FHA|USDA|VA) 1 $75,000 $75,000 $3,736 3.00%

Tidewater Mortgage Services 's top markets include Virginia Beach, Richmond, Washington, Myrtle Beach, and New York among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,321 $549,585,000 $236,788 $3,758 3.16%
FHA 988 $229,850,000 $232,642 $8,177 3.14%
VA 976 $325,700,000 $333,709 $8,920 2.77%
USDA 174 $35,190,000 $202,241 $6,450 2.95%

For the 2021 period, Tidewater Mortgage Services 's most frequently originated loan type of loans were Conventional, with 2,321 originations. Their 2nd most popular type is FHA, with 988 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 3,263 $829,325,000 $254,160 $6,489 3.10%
Refi 769 $200,775,000 $261,086 $4,274 2.87%
Cash Out Refi 407 $104,805,000 $257,506 $5,138 3.10%
Home Improvement 20 $5,420,000 $271,000 $4,783 3.40%

For the 2021, Tidewater Mortgage Services 's most frequently cited loan purpose of loans were Home Purchase, with 3,263 originations. The 2nd most popular reason of loans were Refi, with 769 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 4,184 $1,079,250,000 $257,947 $6,113 3.08%
15 Year 161 $36,705,000 $227,981 $4,031 2.63%
20 Year 72 $18,190,000 $252,639 $4,007 2.94%
Other 22 $4,260,000 $193,636 $3,466 2.87%
10 Year 20 $1,920,000 $96,000 $1,898 3.38%

For the 2021, Tidewater Mortgage Services 's most frequently cited loan length of loans were 30 Year, with 4,184 originations. The 2nd most popular length of loans were 15 Year, with 161 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 3,552 $929,250,000 $261,613
$2k-3k 380 $101,340,000 $266,684
$3k-4k 268 $74,790,000 $279,067
$<1k 170 $2,870,000 $16,882
$5k+ 80 $30,630,000 $382,875

$6,113 of loans were Tidewater Mortgage Services 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 3,552 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,947 $444,335,000 $228,215
2.5-3% 1,866 $510,380,000 $273,516
<2.5% 544 $168,050,000 $308,915
4-5% 94 $17,320,000 $184,255
5-6% 8 $240,000 $30,000

During 2021, Tidewater Mortgage Services 's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 3-4%, with 1,947 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,364 $663,540,000 $280,685 $6,649 3.02%
$100k-200k 1,233 $194,735,000 $157,936 $4,736 3.15%
$400k-600k 456 $213,210,000 $467,566 $7,703 2.90%
$100,000 or less 335 $15,585,000 $46,522 $2,036 3.33%
$600k-1MM 68 $49,770,000 $731,912 $12,052 2.78%
$1MM+ 3 $3,485,000 $1,161,667 $22,254 2.83%

2021 saw Tidewater Mortgage Services place emphasis on $200k-400k loans with 2,364 originations, totaling $663,540,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 1,322 $290,670,000 $219,871 $6,131 3.10%
$50k or less 1,021 $191,505,000 $187,566 $5,081 3.02%
$75k-100k 796 $213,100,000 $267,714 $6,381 3.07%
$100k-150k 776 $238,920,000 $307,887 $6,081 3.03%
$150k-250k 448 $161,830,000 $361,228 $6,165 3.09%
$250k+ 95 $44,045,000 $463,632 $5,615 3.11%

Tidewater Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 1,322 originations. The second most popular income band? $50k or less, with 1,021 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 770 $197,380,000 $256,338 $5,649 3.10%
20-30% 753 $184,075,000 $244,456 $4,894 3.02%
50-60% 396 $111,770,000 $282,247 $9,249 3.01%
<20% 279 $56,485,000 $202,455 $4,311 3.00%
44% 213 $54,695,000 $256,784 $6,299 3.15%
40% 199 $51,365,000 $258,116 $6,223 3.15%
43% 186 $44,720,000 $240,430 $5,700 3.22%
42% 171 $45,775,000 $267,690 $6,331 3.15%
41% 157 $38,265,000 $243,726 $5,770 3.12%
39% 155 $37,035,000 $238,935 $6,098 3.12%
37% 154 $36,760,000 $238,701 $5,378 3.11%
36% 143 $34,345,000 $240,175 $5,592 3.09%
38% 140 $34,950,000 $249,643 $6,339 3.16%
45% 136 $35,140,000 $258,382 $6,510 3.02%
46% 128 $35,460,000 $277,031 $7,145 3.11%
49% 119 $32,665,000 $274,496 $6,466 3.06%
47% 102 $28,910,000 $283,431 $7,129 3.13%
48% 93 $26,105,000 $280,699 $6,775 3.10%
>60% 9 $4,155,000 $461,667 $11,355 2.78%

Tidewater Mortgage Services lent most frequently to those with DTI ratios of 30-36%, with 770 originations. The next most common DTI ratio? 20-30%, with 753 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 3,050 $783,410,000 $256,856 $5,761 3.04%
Black 826 $196,950,000 $238,438 $6,503 3.16%
Not provided 377 $102,575,000 $272,082 $6,703 3.02%
Asian 175 $49,645,000 $283,686 $5,698 3.00%
American Indian 23 $5,505,000 $239,348 $6,550 3.22%
Native Hawaiian 5 $1,315,000 $263,000 $3,536 3.13%
Filipino 1 $615,000 $615,000 $4,359 2.88%
Asian Indian 2 $310,000 $155,000 $4,051 3.63%

Approval Rates

Total approvals of all applications
95.56%

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
77.31%

Tidewater Mortgage Services has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 4,459 $1,140,325,000 $255,736

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
4,459 $1,140,325,000 $255,736

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 85 $12,955,000 $152,412 $3,292 2.91%
40-60% 255 $58,125,000 $227,941 $3,753 2.92%
60-80% 1,052 $269,200,000 $255,894 $4,173 3.13%
80-100% 2,610 $697,790,000 $267,352 $6,533 3.06%
Over 100% 293 $100,365,000 $342,543 $13,416 2.81%
Under 20% 164 $1,890,000 $11,524 $168 3.39%