Village Bank Mortgage Rates, Fees & Info
Midlothian, VALEI: 549300NIJITDSZ8M7H32
Tax ID: 54-1896366
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Village Bank is a smaller bank specializing in Home Purchase loans. Village Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Virginia Beach, and Charlottesville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Village Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 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. | ||
Village Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Village Bank. 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
63Origination Dollar Volume (All Markets)
$9,235,000Top 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 |
|---|---|---|---|---|---|
| RICHMOND, VA (FHA|USDA|VA) | 58 | $7,570,000 | $130,517 | $0 | 5.98% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $1,265,000 | $421,667 | $0 | 4.72% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 5.17% |
| Outside of Metro Areas | 1 | $65,000 | $65,000 | $0 | 6.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 63 | $9,235,000 | $146,587 | $0 | 5.92% |
For 2019, Village Bank's most frequently originated type of loan was Conventional, with 63 originations.
Loan Reason
For 2019, Village Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Other, with 15 originations.
Loan Duration/Length
For 2019, Village Bank's most frequently cited loan duration was 1 Year, with 20 originations. The 2nd most popular length was 20 Year, with 18 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 28 | $1,690,000 | $60,357 |
Village Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 28 originations.
Interest Rates
During 2019, Village Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 31 originations.
Loan Sizing
2019 saw Village Bank place emphasis on $100,000 or less loans with 29 originations, totaling $1,385,000 in origination value.
Applicant Income
Village Bank lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $75k-100k, with 6 originations.
Applicant Debt to Income Ratio
Village Bank lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 20-30%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.78%
Village Bank has a below average approval rate.
Pick Rate
Approvals leading to origination92.06%
Village Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 63 | $9,235,000 | $146,587 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 63 | $9,235,000 | $146,587 |