Atlantic Bay Mortgage Group Rates, Fees & Info

VIRGINIA BEACH, VA

LEI: 549300RWXUAFD1WAE410

Tax ID: 54-1822116

2020 Data | 2019 Data | 2018 Data


Overview

Atlantic Bay Mortgage Group is a mid-sized mortgage company specializing in Home Purchase and Refi loans. Atlantic Bay 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 include Virginia Beach, Charlotte, Atlanta, Roanoke, and Greensboro among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Atlantic Bay Mortgage Group is typically an average fee lendor.


Originations

26,185

Origination Dollar Volume (All Markets)

$6,727,175,000

Relative Rate

Atlantic Bay Mortgage Group 's average 30 year fixed rate mortgage was 3.22%.

The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.

This yields a difference of -0.14%.

Relative Fees

Atlantic Bay Mortgage Group 's average total fees for a 30 year fixed rate mortgage are $4,775.

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 $5,021.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 19,147 $4,974,495,000 $259,805 $3,717 3.17%
VA 3,502 $1,067,660,000 $304,872 $6,477 3.00%
FHA 2,622 $533,790,000 $203,581 $8,026 3.36%
USDA 914 $151,230,000 $165,460 $5,980 3.36%

For the 2020 period, Atlantic Bay Mortgage Group 's most frequently originated loan type was Conventional, with 19,147 originations. Their 2nd most popular type is VA, with 3,502 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 15,579 $3,807,335,000 $244,389 $5,114 3.23%
Refi 8,048 $2,258,580,000 $280,639 $3,749 3.01%
Cash Out Refi 2,558 $661,260,000 $258,507 $4,109 3.29%

For the 2020, Atlantic Bay Mortgage Group 's most frequently cited loan purpose was Home Purchase, with 15,579 originations. The 2nd most popular reason was Refi, with 8,048 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 22,991 $5,966,265,000 $259,504 $4,775 3.22%
15 Year 2,014 $469,050,000 $232,895 $3,281 2.71%
20 Year 764 $189,690,000 $248,285 $3,334 3.02%
Other 250 $69,880,000 $279,520 $3,539 3.04%
10 Year 153 $28,935,000 $189,118 $2,854 2.46%
30+ year 13 $3,355,000 $258,077 $8,614 4.18%

For the 2020, Atlantic Bay Mortgage Group 's most frequently cited loan length was 30 Year, with 22,991 originations. The 2nd most popular length was 15 Year, with 2,014 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 12,671 $3,451,675,000 $272,407
$1k-2k 6,941 $1,548,285,000 $223,064
$2k-3k 3,497 $827,775,000 $236,710
$3k-4k 2,326 $610,510,000 $262,472
$5k+ 750 $288,930,000 $385,240

$4,775 was Atlantic Bay Mortgage Group 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 12,671 originations.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 7,716 $1,998,900,000 $259,059 $5,176 3.12%
CHARLOTTE-CONCORD-GASTONIA, NC-SC 3,318 $1,035,420,000 $312,061 $4,315 3.18%
Outside of Metro Areas 2,340 $514,040,000 $219,675 $4,688 3.23%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1,471 $469,075,000 $318,882 $4,048 3.16%
ROANOKE, VA 1,141 $240,395,000 $210,688 $3,725 3.18%
GREENSBORO-HIGH POINT, NC 1,029 $223,515,000 $217,216 $4,280 3.17%
WILMINGTON, NC 712 $204,860,000 $287,725 $4,326 3.21%
SALISBURY, MD-DE 568 $199,430,000 $351,109 $4,033 3.02%
ASHEVILLE, NC 633 $168,065,000 $265,506 $3,880 3.24%
WINSTON-SALEM, NC 751 $153,335,000 $204,174 $4,368 3.22%
HICKORY-LENOIR-MORGANTON, NC 742 $142,560,000 $192,129 $4,680 3.31%
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 365 $125,215,000 $343,055 $5,252 3.01%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 543 $118,395,000 $218,039 $4,383 3.26%
RALEIGH-CARY, NC 328 $105,560,000 $321,829 $3,950 3.11%
LYNCHBURG, VA 455 $98,145,000 $215,703 $3,964 3.15%
CHARLESTON-NORTH CHARLESTON, SC 275 $80,895,000 $294,164 $5,295 3.17%
RICHMOND, VA 300 $78,690,000 $262,300 $4,564 3.16%
NEW BERN, NC 367 $75,895,000 $206,798 $4,571 3.21%
CHARLOTTESVILLE, VA 258 $73,750,000 $285,853 $4,268 3.14%
BLACKSBURG-CHRISTIANSBURG, VA 348 $70,100,000 $201,437 $4,033 3.27%
GREENVILLE-ANDERSON, SC 280 $60,180,000 $214,929 $4,345 3.32%
ORLANDO-KISSIMMEE-SANFORD, FL 202 $49,350,000 $244,307 $5,227 3.25%
GREENVILLE, NC 203 $40,305,000 $198,547 $4,604 3.24%
JACKSONVILLE, NC 161 $33,335,000 $207,050 $4,677 3.22%
WARNER ROBINS, GA 172 $32,250,000 $187,500 $5,396 3.11%
BOWLING GREEN, KY 148 $31,970,000 $216,014 $4,103 3.12%
AUGUSTA-RICHMOND COUNTY, GA-SC 138 $27,470,000 $199,058 $4,827 3.26%
DURHAM-CHAPEL HILL, NC 75 $22,775,000 $303,667 $4,037 3.10%
TAMPA-ST. PETERSBURG-CLEARWATER, FL 82 $21,270,000 $259,390 $4,695 3.02%
BURLINGTON, NC 115 $21,055,000 $183,087 $4,691 3.17%
STAUNTON, VA 98 $20,690,000 $211,122 $3,883 3.17%
CHATTANOOGA, TN-GA 104 $20,410,000 $196,250 $4,387 3.26%
KINGSPORT-BRISTOL, TN-VA 88 $14,420,000 $163,864 $4,215 3.51%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 58 $13,320,000 $229,655 $5,081 3.31%
SPARTANBURG, SC 59 $11,015,000 $186,695 $4,510 3.31%
MACON-BIBB COUNTY, GA 53 $9,855,000 $185,943 $5,135 3.29%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 32 $9,580,000 $299,375 $3,399 2.90%
GAINESVILLE, GA 29 $8,005,000 $276,034 $4,203 3.19%
COLUMBIA, SC 37 $7,685,000 $207,703 $4,438 3.16%
HARRISONBURG, VA 24 $6,070,000 $252,917 $4,252 2.93%
WILMINGTON, DE-MD-NJ 19 $5,685,000 $299,211 $3,554 3.01%
HILTON HEAD ISLAND-BLUFFTON, SC 18 $5,460,000 $303,333 $4,501 3.13%
FAYETTEVILLE, NC 29 $5,455,000 $188,103 $4,884 3.07%
JACKSONVILLE, FL 17 $5,035,000 $296,176 $4,622 3.04%
BRUNSWICK, GA 13 $4,925,000 $378,846 $4,344 3.06%
LAKELAND-WINTER HAVEN, FL 22 $4,390,000 $199,545 $3,975 3.09%
JOHNSON CITY, TN 27 $4,345,000 $160,926 $4,446 3.21%
SAVANNAH, GA 12 $3,480,000 $290,000 $3,433 3.05%
BALTIMORE-COLUMBIA-TOWSON, MD 9 $3,425,000 $380,556 $3,582 2.67%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 13 $2,965,000 $228,077 $5,355 3.16%
CAPE CORAL-FORT MYERS, FL 13 $2,745,000 $211,154 $4,063 2.92%
PALM BAY-MELBOURNE-TITUSVILLE, FL 11 $2,635,000 $239,545 $5,512 2.99%
KNOXVILLE, TN 9 $2,545,000 $282,778 $4,666 3.19%
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 6 $2,480,000 $413,333 $4,652 2.88%
NORTH PORT-SARASOTA-BRADENTON, FL 9 $2,415,000 $268,333 $4,022 2.90%
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 5 $2,265,000 $453,000 $5,513 3.15%
ATHENS-CLARKE COUNTY, GA 9 $2,135,000 $237,222 $4,111 2.92%
DOVER, DE 8 $1,930,000 $241,250 $3,842 2.92%
MIAMI-MIAMI BEACH-KENDALL, FL 4 $1,690,000 $422,500 $4,190 2.78%
PORT ST. LUCIE, FL 7 $1,545,000 $220,714 $3,366 2.89%
FLORENCE, SC 10 $1,470,000 $147,000 $4,255 3.16%
GOLDSBORO, NC 7 $1,355,000 $193,571 $4,607 3.20%
PUNTA GORDA, FL 5 $1,265,000 $253,000 $2,947 2.83%
CLEVELAND, TN 4 $1,240,000 $310,000 $5,399 3.41%
ROCKY MOUNT, NC 10 $1,140,000 $114,000 $4,070 3.24%
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 5 $1,125,000 $225,000 $5,109 3.43%
WINCHESTER, VA-WV 4 $1,120,000 $280,000 $5,635 3.16%
THE VILLAGES, FL 3 $1,115,000 $371,667 $3,770 2.96%
AUSTIN-ROUND ROCK-GEORGETOWN, TX 4 $1,010,000 $252,500 $6,504 4.38%
LOUISVILLE/JEFFERSON COUNTY, KY-IN 4 $880,000 $220,000 $3,334 3.16%
DALTON, GA 3 $745,000 $248,333 $4,808 3.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 3 $715,000 $238,333 $5,615 3.00%
SUMTER, SC 4 $650,000 $162,500 $4,416 3.50%
PANAMA CITY, FL 3 $625,000 $208,333 $4,479 3.58%
FORT WORTH-ARLINGTON-GRAPEVINE, TX 2 $570,000 $285,000 $4,189 3.50%
NAPLES-MARCO ISLAND, FL 2 $540,000 $270,000 $3,487 2.94%
CALIFORNIA-LEXINGTON PARK, MD 2 $460,000 $230,000 $4,439 2.44%
SALT LAKE CITY, UT 2 $430,000 $215,000 $4,019 3.63%
PENSACOLA-FERRY PASS-BRENT, FL 1 $425,000 $425,000 $20,075 2.88%
CHARLESTON, WV 2 $410,000 $205,000 $3,178 3.00%
BIRMINGHAM-HOOVER, AL 1 $355,000 $355,000 $2,139 3.13%
OCALA, FL 2 $350,000 $175,000 $3,451 2.88%
JACKSON, TN 3 $315,000 $105,000 $3,136 4.29%
HOMOSASSA SPRINGS, FL 2 $310,000 $155,000 $5,121 3.69%
NEWARK, NJ-PA 1 $305,000 $305,000 $9,119 3.88%
ST. GEORGE, UT 1 $295,000 $295,000 $2,796 3.88%
HUNTINGTON-ASHLAND, WV-KY-OH 2 $290,000 $145,000 $4,856 3.25%
COLUMBUS, GA-AL 1 $275,000 $275,000 $3,680 3.13%
FORT WAYNE, IN 1 $265,000 $265,000 $6,986 3.50%
VALDOSTA, GA 1 $255,000 $255,000 $3,464 3.13%
SEBASTIAN-VERO BEACH, FL 1 $255,000 $255,000 $3,400 3.13%
TALLAHASSEE, FL 1 $245,000 $245,000 $3,797 2.50%
AUBURN-OPELIKA, AL 1 $225,000 $225,000 $3,262 3.50%
FLINT, MI 1 $195,000 $195,000 $3,703 3.63%
HINESVILLE, GA 1 $185,000 $185,000 $5,635 2.50%
CLARKSVILLE, TN-KY 1 $175,000 $175,000 $4,193 3.38%
ROME, GA 1 $165,000 $165,000 $6,624 3.13%
OWENSBORO, KY 1 $155,000 $155,000 $2,646 3.25%
FLORENCE-MUSCLE SHOALS, AL 1 $155,000 $155,000 $4,577 3.00%
ALBANY, GA 1 $135,000 $135,000 $5,494 3.63%
BECKLEY, WV 1 $125,000 $125,000 $5,212 3.38%
LEXINGTON-FAYETTE, KY 1 $55,000 $55,000 $2,336 2.63%

Atlantic Bay Mortgage Group 's top markets include Virginia Beach, Charlotte, Atlanta, Roanoke, and Greensboro among others.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 13,022 $3,168,060,000 $243,285
2.5-3% 10,155 $2,813,155,000 $277,022
<2.5% 2,032 $588,690,000 $289,710
4-5% 826 $138,500,000 $167,676
5-6% 146 $17,800,000 $121,918
6-7% 4 $970,000 $242,500

During 2020, Atlantic Bay Mortgage Group 's average interest rate was 3.22%, while their most frequently originated rate bucket was 3-4%, with 13,022 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 12,842 $3,614,070,000 $281,426 $4,873 3.11%
$100k-200k 8,185 $1,277,925,000 $156,130 $4,228 3.28%
$400k-600k 3,138 $1,467,870,000 $467,772 $5,188 3.00%
$100,000 or less 1,697 $88,715,000 $52,278 $2,423 3.39%
$600k-1MM 253 $185,765,000 $734,249 $7,916 3.22%
$1MM+ 70 $92,830,000 $1,326,143 $11,220 3.14%

2020 saw Atlantic Bay Mortgage Group place emphasis on $200k-400k loans with 12,842 originations, totaling $3,614,070,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 6,567 $1,334,625,000 $203,232 $4,731 3.22%
$50k or less 5,171 $888,395,000 $171,803 $4,305 3.19%
$100k-150k 5,151 $1,542,795,000 $299,514 $4,658 3.14%
$75k-100k 4,550 $1,138,480,000 $250,215 $4,865 3.19%
$150k-250k 3,308 $1,182,710,000 $357,530 $4,356 3.10%
$250k+ 1,334 $606,950,000 $454,985 $4,542 3.06%

Atlantic Bay Mortgage Group lent most frequently to those with incomes in the $50k-75k range, with 6,567 originations. The second most popular income band? $50k or less, with 5,171 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 5,906 $1,547,060,000 $261,947 $4,081 3.11%
30-36% 4,787 $1,219,465,000 $254,745 $4,521 3.19%
<20% 3,109 $887,595,000 $285,492 $3,881 2.96%
44% 1,152 $272,560,000 $236,597 $5,171 3.28%
40% 1,021 $240,035,000 $235,098 $4,695 3.23%
43% 986 $235,740,000 $239,087 $5,024 3.27%
39% 981 $229,365,000 $233,807 $4,800 3.23%
42% 962 $235,460,000 $244,761 $4,838 3.26%
41% 961 $235,755,000 $245,323 $4,902 3.24%
38% 905 $220,965,000 $244,160 $4,677 3.24%
36% 890 $220,570,000 $247,831 $4,712 3.25%
37% 888 $217,210,000 $244,606 $4,605 3.25%
50-60% 726 $203,100,000 $279,752 $7,800 3.19%
49% 582 $153,200,000 $263,230 $5,098 3.18%
45% 576 $144,870,000 $251,510 $4,844 3.24%
48% 569 $148,855,000 $261,608 $5,174 3.26%
46% 537 $139,265,000 $259,339 $4,973 3.23%
47% 498 $129,980,000 $261,004 $4,996 3.24%
>60% 44 $12,550,000 $285,227 $6,610 3.05%

Atlantic Bay Mortgage Group lent most frequently to those with DTI ratios of 20-30%, with 5,906 originations. The next most common DTI ratio? 30-36%, with 4,787 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 20,142 $5,242,060,000 $260,255 $4,497 3.16%
Not provided 3,112 $831,700,000 $267,256 $4,676 3.14%
Black 2,187 $456,545,000 $208,754 $5,360 3.29%
Asian 498 $133,320,000 $267,711 $4,668 3.19%
American Indian 119 $27,615,000 $232,059 $4,953 3.22%
Native Hawaiian 45 $12,275,000 $272,778 $5,120 3.33%
Asian Indian 37 $11,995,000 $324,189 $3,787 2.81%
Other Asian 19 $5,215,000 $274,474 $4,094 2.95%
Other Pacific Islander 11 $2,215,000 $201,364 $4,297 2.97%
Filipino 7 $2,005,000 $286,429 $5,231 3.02%
Vietnamese 3 $1,055,000 $351,667 $10,320 3.33%
Korean 2 $510,000 $255,000 $3,057 2.44%
Japanese 1 $255,000 $255,000 $7,697 2.63%
1 $225,000 $225,000 $2,717 3.13%
Chinese 1 $185,000 $185,000 $6,838 3.75%

Approval Rates

Total approvals of all applications
97.09%

Atlantic Bay 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 origination
78.11%

Atlantic Bay Mortgage Group has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 26,185 $6,727,175,000 $256,909

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 126 $17,300,000 $137,302
Single Family (1-4 Units):Site-Built 26,059 $6,709,875,000 $257,488

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 590 $122,990,000 $208,458 $3,201 2.96%
40-60% 2,263 $597,215,000 $263,904 $3,399 2.97%
60-80% 7,608 $2,116,120,000 $278,144 $3,763 3.18%
80-100% 13,897 $3,508,815,000 $252,487 $5,079 3.23%
Over 100% 1,081 $341,055,000 $315,500 $10,102 3.02%
Under 20% 649 $9,415,000 $14,507 $352 3.01%