Aurora Financial Mortgage Rates, Fees & Info

MECHANICSVILLE, VA

LEI: 549300S93XI20FLTGK89

Tax ID: 20-0137049

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Aurora Financial is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Aurora Financial has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Raleigh, Charlotte, and Richmond among others. We have data for 73 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Aurora Financial 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. Aurora Financial is typically a low 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.

    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 6.24% 12/16/24
    30 Year Conventional Refi 6.09% 12/16/24
    30 Year Cash-out Refi 6.30% 12/16/24
    30 Year VA Purchase 5.65% 12/16/24
    30 Year VA Refi 5.54% 12/16/24
    15 Year Conventional Purchase 5.65% 12/16/24
    15 Year Conventional Refi 5.49% 12/16/24
    15 Year Cash-out Refi 5.49% 12/16/24
    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.

    Aurora Financial Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Aurora Financial. 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

    738

    Origination Dollar Volume (All Markets)

    $270,260,000
    Show all (17) awards

    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) 324 $129,460,000 $399,568 $2,022 2.61%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 86 $30,570,000 $355,465 $1,950 2.54%
    RALEIGH-CARY, NC (FHA|USDA|VA) 35 $11,335,000 $323,857 $2,056 2.79%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 30 $10,110,000 $337,000 $1,878 2.72%
    RICHMOND, VA (FHA|USDA|VA) 28 $8,950,000 $319,643 $1,800 2.59%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 20 $6,570,000 $328,500 $1,853 2.60%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 17 $6,345,000 $373,235 $2,127 2.70%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 17 $5,875,000 $345,588 $2,849 2.87%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $3,985,000 $362,273 $2,664 2.72%
    Outside of Metro Areas 11 $3,245,000 $295,000 $1,873 2.60%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 10 $3,090,000 $309,000 $2,091 2.88%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 8 $2,990,000 $373,750 $3,644 2.81%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 6 $2,420,000 $403,333 $1,780 2.79%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 7 $2,405,000 $343,571 $1,780 2.68%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 8 $2,390,000 $298,750 $1,746 2.64%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 5 $2,215,000 $443,000 $3,088 2.78%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $2,200,000 $366,667 $3,042 2.60%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 7 $2,145,000 $306,429 $1,573 2.57%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 4 $1,960,000 $490,000 $2,396 2.53%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,915,000 $383,000 $3,836 2.95%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 5 $1,895,000 $379,000 $1,936 2.75%
    WILMINGTON, NC (FHA|USDA|VA) 5 $1,655,000 $331,000 $4,789 2.78%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 5 $1,655,000 $331,000 $2,168 2.58%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $1,535,000 $307,000 $2,385 2.80%
    PITTSBURGH, PA (FHA|USDA|VA) 4 $1,170,000 $292,500 $3,442 2.66%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 3 $1,165,000 $388,333 $4,122 2.42%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $1,070,000 $535,000 $1,795 2.81%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 3 $1,005,000 $335,000 $1,759 2.25%
    WINCHESTER, VA-WV (FHA|USDA|VA) 3 $995,000 $331,667 $2,113 2.96%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $995,000 $331,667 $2,547 2.42%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $830,000 $415,000 $3,141 2.06%
    BRUNSWICK, GA (FHA|USDA|VA) 2 $680,000 $340,000 $2,007 2.81%
    COLUMBIA, SC (FHA|USDA|VA) 2 $660,000 $330,000 $2,208 2.25%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $650,000 $325,000 $1,357 2.69%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $640,000 $320,000 $1,940 2.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $630,000 $315,000 $2,756 3.00%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $610,000 $305,000 $3,658 2.69%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $610,000 $305,000 $1,507 2.63%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $600,000 $300,000 $2,450 2.69%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $595,000 $595,000 $2,000 2.88%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $545,000 $545,000 $3,361 2.75%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $540,000 $270,000 $2,118 3.06%
    HARRISONBURG, VA (FHA|USDA|VA) 2 $510,000 $255,000 $1,587 2.38%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $475,000 $475,000 $2,941 2.25%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $470,000 $235,000 $2,579 2.19%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $455,000 $455,000 $1,370 2.50%
    SALEM, OR (FHA|USDA|VA) 1 $455,000 $455,000 $5,761 2.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $425,000 $425,000 $3,694 2.63%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $405,000 $405,000 $1,469 2.88%
    Morehead City, NC (FHA|USDA|VA) 1 $395,000 $395,000 $2,212 2.75%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $345,000 $345,000 $3,750 2.88%
    VALLEJO, CA (FHA|USDA|VA) 1 $325,000 $325,000 $1,385 2.88%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $315,000 $315,000 $3,159 3.25%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $305,000 $305,000 $1,793 2.25%
    SAVANNAH, GA (FHA|USDA|VA) 1 $295,000 $295,000 $2,126 3.13%
    Georgetown, SC (FHA|USDA|VA) 1 $285,000 $285,000 $2,084 2.13%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $285,000 $285,000 $1,683 2.88%
    Henderson, NC (FHA|USDA|VA) 1 $285,000 $285,000 $1,402 2.75%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $285,000 $285,000 $2,123 2.88%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $275,000 $275,000 $2,937 2.88%
    Seneca, SC (FHA|USDA|VA) 1 $265,000 $265,000 $2,163 3.00%
    Greenwood, SC (FHA|USDA|VA) 1 $255,000 $255,000 $1,761 2.13%
    Sanford, NC (FHA|USDA|VA) 1 $255,000 $255,000 $1,410 2.75%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 1 $255,000 $255,000 $2,146 3.13%
    Danville, VA (FHA|USDA|VA) 1 $245,000 $245,000 $1,465 2.75%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $245,000 $245,000 $1,372 2.13%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $225,000 $225,000 $2,093 2.75%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $205,000 $205,000 $1,419 2.88%
    BURLINGTON, NC (FHA|USDA|VA) 1 $205,000 $205,000 $1,727 2.88%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $185,000 $185,000 $2,830 3.13%
    Shelby, NC (FHA|USDA|VA) 1 $145,000 $145,000 $1,168 2.88%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $145,000 $145,000 $3,421 3.00%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $135,000 $135,000 $3,221 3.00%
    Aurora Financial's top markets include Washington, Baltimore, Raleigh, Charlotte, and Richmond among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    N C P D Federal Credit Union
    Similarity Rank: 102
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    Emory Alliance Credit Union
    Similarity Rank: 305
    Schuyler Savings Bank
    Similarity Rank: 352
    Christian Community Credit Union
    Similarity Rank: 354
    Louviers Federal Credit Union
    Similarity Rank: 410
    HENRICO Federal Credit Union
    Similarity Rank: 420
    POINT BREEZE
    Similarity Rank: 477
    BHCU
    Similarity Rank: 504
    ABNB Federal Credit Union
    Similarity Rank: 544

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 733 $268,075,000 $365,723 $2,091 2.64%
    VA 5 $2,185,000 $437,000 $6,525 2.53%

    For 2021, Aurora Financial's most frequently originated type of loan was Conventional, with 733 originations. Their 2nd most popular type was VA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 438 $157,140,000 $358,767 $1,867 2.56%
    Cash Out Refi 192 $71,120,000 $370,417 $2,115 2.73%
    Home Purchase 108 $42,000,000 $388,889 $3,157 2.80%

    For 2021, Aurora Financial's most frequently cited loan purpose was Refi, with 438 originations. The 2nd most popular reason was Cash Out Refi, with 192 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 466 $177,140,000 $380,129 $2,272 2.83%
    15 Year 182 $63,400,000 $348,352 $1,912 2.24%
    20 Year 60 $20,520,000 $342,000 $1,812 2.63%
    10 Year 27 $8,315,000 $307,963 $1,663 2.14%
    Other 3 $885,000 $295,000 $1,516 2.96%

    For 2021, Aurora Financial's most frequently cited loan duration was 30 Year, with 466 originations. The 2nd most popular length was 15 Year, with 182 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 694 $254,960,000 $367,378
    $1k-2k 29 $9,335,000 $321,897
    $2k-3k 7 $2,565,000 $366,429
    $3k-4k 3 $985,000 $328,333
    $4k-5k 3 $1,385,000 $461,667
    $5k+ 2 $1,030,000 $515,000

    Aurora Financial's average total fees were $2,272, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 694 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 421 $156,805,000 $372,458
    <2.5% 259 $93,345,000 $360,405
    3-4% 56 $19,400,000 $346,429
    4-5% 2 $710,000 $355,000

    During 2021, Aurora Financial's average interest rate for loans was 2.83%, while their most frequently originated rate bucket for loans was 2.5-3%, with 421 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 485 $150,545,000 $310,402 $1,908 2.62%
    $400k-600k 211 $100,195,000 $474,858 $2,467 2.62%
    $600k-1MM 23 $16,455,000 $715,435 $3,044 2.89%
    $100k-200k 18 $2,970,000 $165,000 $2,611 2.97%
    $100,000 or less 1 $95,000 $95,000 $1,929 3.50%

    2021 saw Aurora Financial place emphasis on $200k-400k loans with 485 originations, totaling $150,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 265 $103,905,000 $392,094 $2,236 2.59%
    $100k-150k 261 $91,175,000 $349,330 $1,975 2.65%
    $75k-100k 93 $30,385,000 $326,720 $2,183 2.72%
    $250k+ 74 $32,520,000 $439,459 $2,116 2.54%
    $50k-75k 38 $10,510,000 $276,579 $2,124 2.84%
    $50k or less 5 $935,000 $187,000 $2,343 3.05%

    Aurora Financial lent most frequently to those with incomes in the $150k-250k range, with 265 originations. The second most popular income band? $100k-150k, with 261 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 251 $92,635,000 $369,064 $2,046 2.59%
    30-36% 158 $58,910,000 $372,848 $2,155 2.70%
    <20% 133 $43,245,000 $325,150 $1,934 2.59%
    37% 29 $10,855,000 $374,310 $2,409 2.60%
    38% 24 $10,430,000 $434,583 $2,255 2.72%
    40% 23 $9,765,000 $424,565 $2,013 2.71%
    42% 22 $7,820,000 $355,455 $2,227 2.80%
    43% 20 $7,050,000 $352,500 $2,351 2.86%
    41% 19 $7,445,000 $391,842 $2,466 2.55%
    39% 17 $6,205,000 $365,000 $1,993 2.69%
    36% 14 $4,920,000 $351,429 $2,362 2.65%
    44% 7 $2,865,000 $409,286 $4,461 2.82%
    45% 5 $1,655,000 $331,000 $1,707 2.48%
    47% 3 $1,275,000 $425,000 $2,409 2.63%
    46% 1 $485,000 $485,000 $1,923 2.88%
    48% 1 $365,000 $365,000 $2,108 2.50%

    Aurora Financial lent most frequently to those with DTI ratios of 20-30%, with 251 originations. The next most common DTI ratio? 30-36%, with 158 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 440 $159,730,000 $363,023 $2,120 2.67%
    Not provided 153 $56,725,000 $370,752 $2,159 2.60%
    Asian 109 $40,505,000 $371,606 $2,060 2.59%
    Black 31 $11,645,000 $375,645 $2,175 2.71%
    Asian Indian 2 $640,000 $320,000 $1,582 2.19%
    American Indian 2 $540,000 $270,000 $2,424 2.44%
    Other Asian 1 $475,000 $475,000 $1,740 2.63%

    Approval Rates

    Total approvals of all applications
    97.92%

    Aurora Financial 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
    85.64%

    Aurora Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 738 $270,260,000 $366,206

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    738 $270,260,000 $366,206

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    60-80% 1 $145,000 $145,000 $3,091 3.50%
    80-100% 1 $405,000 $405,000 $2,068 2.88%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Aurora Financial, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 50.0%
    Aurora Financial, LLC Conventional home mortgage Trouble during payment process 2 50.0%