Potomac Mortgage Group Rates, Fees & Info
Fairfax, VALEI: 549300PGT5K5GACK2444
Tax ID: 26-4030355
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Mortgage Data
Review & Overview
Potomac Mortgage Group is a small mortgage company specializing in Home Purchase loans. Potomac Mortgage Group 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: Washington, Charlotte, Myrtle Beach, Morgantown, and Raleigh among others. We have data for 104 markets. (Some data included below & more in-depth data is available with an active subscription.)Potomac Mortgage Group 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. Potomac Mortgage Group 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.
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Originations
3,311Origination Dollar Volume (All Markets)
$1,122,425,000Awards
Potomac Mortgage Group - 2018
Potomac Mortgage Group is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1,411 | $676,245,000 | $479,266 | $6,958 | 4.56% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 350 | $88,730,000 | $253,514 | $4,561 | 4.78% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 165 | $38,955,000 | $236,091 | $3,895 | 4.79% |
| MORGANTOWN, WV (FHA|USDA|VA) | 136 | $28,270,000 | $207,868 | $3,949 | 4.58% |
| Outside of Metro Areas | 115 | $25,105,000 | $218,304 | $4,222 | 4.69% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 91 | $20,165,000 | $221,593 | $4,988 | 4.85% |
| Clarksburg, WV (FHA|USDA|VA) | 121 | $20,135,000 | $166,405 | $3,627 | 4.59% |
| Fairmont, WV (FHA|USDA|VA) | 121 | $19,285,000 | $159,380 | $3,823 | 4.59% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 68 | $17,610,000 | $258,971 | $3,820 | 4.65% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 54 | $15,890,000 | $294,259 | $3,885 | 4.64% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 47 | $14,925,000 | $317,553 | $4,810 | 4.74% |
| COLUMBIA, SC (FHA|USDA|VA) | 53 | $14,455,000 | $272,736 | $3,708 | 4.70% |
| WILMINGTON, NC (FHA|USDA|VA) | 49 | $12,865,000 | $262,551 | $3,645 | 4.75% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 60 | $12,500,000 | $208,333 | $4,109 | 4.75% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 38 | $12,450,000 | $327,632 | $7,623 | 4.67% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 30 | $9,200,000 | $306,667 | $3,862 | 4.62% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 40 | $8,620,000 | $215,500 | $3,581 | 4.73% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 22 | $6,150,000 | $279,545 | $4,854 | 4.58% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 25 | $5,375,000 | $215,000 | $4,165 | 4.60% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 12 | $4,510,000 | $375,833 | $6,006 | 4.60% |
| RICHMOND, VA (FHA|USDA|VA) | 13 | $4,075,000 | $313,462 | $4,527 | 4.45% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 14 | $3,890,000 | $277,857 | $6,796 | 4.57% |
| BURLINGTON, NC (FHA|USDA|VA) | 16 | $3,590,000 | $224,375 | $3,512 | 4.67% |
| CHARLESTON, WV (FHA|USDA|VA) | 22 | $3,510,000 | $159,545 | $3,657 | 4.65% |
| Morehead City, NC (FHA|USDA|VA) | 13 | $3,405,000 | $261,923 | $3,585 | 4.60% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 8 | $2,370,000 | $296,250 | $2,055 | 4.77% |
| Lumberton, NC (FHA|USDA|VA) | 15 | $2,235,000 | $149,000 | $3,415 | 4.66% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 9 | $2,175,000 | $241,667 | $4,096 | 4.83% |
| ASHEVILLE, NC (FHA|USDA|VA) | 5 | $2,015,000 | $403,000 | $3,899 | 4.90% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 7 | $1,965,000 | $280,714 | $4,771 | 4.63% |
| Sanford, NC (FHA|USDA|VA) | 8 | $1,570,000 | $196,250 | $5,621 | 4.66% |
| Sevierville, TN (FHA|USDA|VA) | 3 | $1,545,000 | $515,000 | $7,046 | 4.17% |
| North Wilkesboro, NC (FHA|USDA|VA) | 7 | $1,485,000 | $212,143 | $4,450 | 4.71% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 6 | $1,310,000 | $218,333 | $2,410 | 4.81% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,280,000 | $320,000 | $7,844 | 4.41% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $1,280,000 | $320,000 | $6,355 | 4.44% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 7 | $1,245,000 | $177,857 | $4,512 | 4.70% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 6 | $1,210,000 | $201,667 | $5,262 | 4.60% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $8,361 | 4.67% |
| Mount Airy, NC (FHA|USDA|VA) | 6 | $1,130,000 | $188,333 | $3,585 | 4.92% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $5,986 | 4.67% |
| Rockingham, NC (FHA|USDA|VA) | 6 | $1,030,000 | $171,667 | $3,400 | 4.54% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $6,574 | 4.83% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $4,575 | 4.65% |
| Newberry, SC (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $3,818 | 4.72% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $8,919 | 4.94% |
| Orangeburg, SC (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $8,326 | 5.04% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $4,635 | 4.63% |
| Albemarle, NC (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $3,607 | 4.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $6,336 | 4.56% |
| PITTSBURGH, PA (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $5,003 | 4.30% |
| Wilson, NC (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $3,981 | 4.88% |
| Somerset, PA (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $4,473 | 4.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $6,885 | 4.92% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $4,021 | 4.79% |
| FLORENCE, SC (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $7,328 | 4.21% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $6,357 | 4.94% |
| Boone, NC (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $2,177 | 4.66% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $3,912 | 4.13% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $7,110 | 4.50% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $6,729 | 4.93% |
| Henderson, NC (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $5,398 | 4.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $6,647 | 4.63% |
| Shelby, NC (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $4,112 | 5.04% |
| SUMTER, SC (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $4,232 | 4.50% |
| Bennettsville, SC (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,887 | 5.08% |
| Laurinburg, NC (FHA|USDA|VA) | 4 | $460,000 | $115,000 | $3,554 | 4.88% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $8,239 | 4.25% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $3,131 | 4.50% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,368 | 5.00% |
| Salem, OH (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,193 | 3.88% |
| Elkins, WV (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $3,702 | 4.62% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,550 | 4.38% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,650 | 4.69% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,391 | 4.81% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,245 | 4.75% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,010 | 4.50% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,371 | 5.13% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,503 | 4.75% |
| Forest City, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,295 | 4.75% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,823 | 4.38% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,582 | 4.38% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,938 | 4.38% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,974 | 4.50% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,102 | 4.50% |
| AKRON, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,209 | 5.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,144 | 5.00% |
| LAREDO, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $11,614 | 4.50% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,221 | 4.50% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,114 | 4.75% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,017 | 4.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,222 | 4.88% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,293 | 4.50% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,143 | 5.25% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,981 | 4.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,046 | 4.50% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,294 | 4.38% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,925 | 5.50% |
| Marion, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,246 | 4.25% |
| Washington, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,726 | 5.25% |
| Brevard, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,982 | 5.00% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,698 | 5.25% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,129 | 5.25% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,003 | 5.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Potomac Mortgage Group based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, Potomac Mortgage Group's most frequently originated type of loan was Conventional, with 2,483 originations. Their 2nd most popular type was FHA, with 409 originations.
Loan Reason
For 2018, Potomac Mortgage Group's most frequently cited loan purpose was Home Purchase, with 2,959 originations. The 2nd most popular reason was Refi, with 215 originations.
Loan Duration/Length
For 2018, Potomac Mortgage Group's most frequently cited loan duration was 30 Year, with 3,159 originations. The 2nd most popular length was 15 Year, with 113 originations.
Origination Fees/Closing Costs
Potomac Mortgage Group's average total fees were $5,508, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,382 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 2,577 | $888,205,000 | $344,666 |
| 5-6% | 421 | $103,855,000 | $246,686 |
| 3-4% | 305 | $129,465,000 | $424,475 |
| 6-7% | 8 | $900,000 | $112,500 |
During 2018, Potomac Mortgage Group's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 2,577 originations.
Loan Sizing
2018 saw Potomac Mortgage Group place emphasis on $200k-400k loans with 1,369 originations, totaling $394,775,000 in origination value.
Applicant Income
Potomac Mortgage Group lent most frequently to those with incomes in the $100k-150k range, with 729 originations. The second most popular income band? $50k-75k, with 680 originations.
Applicant Debt to Income Ratio
Potomac Mortgage Group lent most frequently to those with DTI ratios of 20-30%, with 649 originations. The next most common DTI ratio? 30-36%, with 595 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.58%
Potomac Mortgage Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination69.89%
Potomac Mortgage Group has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,311 | $1,122,425,000 | $338,999 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 45 | $5,205,000 | $115,667 |
| Single Family (1-4 Units):Site-Built | 3,266 | $1,117,220,000 | $342,076 |