Johnson Mortgage Company Rates, Fees & Info

NEWPORT NEWS, VA

LEI: 549300V0XUOYKG376I21

Tax ID: 54-1895449

5 stars - out of 5 stars, based on 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Johnson Mortgage Company is a smaller mortgage company specializing in Home Purchase and Refi loans. Johnson Mortgage Company 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, Washington, Richmond, Kill Devil Hills, and Salisbury among others. Johnson Mortgage Company 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. Johnson Mortgage Company is typically an average fee lendor.


Originations

347

Origination Dollar Volume (All Markets)

$97,255,000

Awards

JOHNSON MORTGAGE COMPANY  VA Loans bronze JOHNSON MORTGAGE COMPANY  FHA Loans silver
Show all (2) awards

Relative Rate

Johnson Mortgage Company 's average 30 year fixed rate mortgage of loans were 2.94%.

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

This yields a difference of -0.21%.

Relative Fees

Johnson Mortgage Company 's average total fees for a 30 year fixed rate mortgage are $5,389.

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) 212 $47,350,000 $223,349 $5,025 2.89%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 84 $33,090,000 $393,929 $5,282 2.95%
Outside of Metro Areas 36 $12,720,000 $353,333 $6,077 3.01%
RICHMOND, VA (FHA|USDA|VA) 6 $1,510,000 $251,667 $6,041 3.15%
Kill Devil Hills, NC (FHA|USDA|VA) 4 $1,170,000 $292,500 $3,953 2.94%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $425,000 $425,000 $5,871 3.75%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $325,000 $325,000 $2,849 2.88%
STAUNTON, VA (FHA|USDA|VA) 1 $275,000 $275,000 $2,778 3.13%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $255,000 $255,000 $6,321 3.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $135,000 $135,000 $3,067 3.00%

Johnson Mortgage Company 's top markets include Virginia Beach, Washington, Richmond, Kill Devil Hills, and Salisbury among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 216 $54,300,000 $251,389 $3,649 3.06%
VA 66 $26,530,000 $401,970 $7,919 2.62%
FHA 58 $14,470,000 $249,483 $7,639 2.78%
USDA 7 $1,955,000 $279,286 $6,672 2.82%

For the 2021 period, Johnson Mortgage Company 's most frequently originated loan type of loans were Conventional, with 216 originations. Their 2nd most popular type is VA, with 66 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 186 $53,990,000 $290,269 $5,859 2.90%
Refi 106 $28,640,000 $270,189 $3,777 2.92%
Cash Out Refi 55 $14,625,000 $265,909 $5,645 3.02%

For the 2021, Johnson Mortgage Company 's most frequently cited loan purpose of loans were Home Purchase, with 186 originations. The 2nd most popular reason of loans were Refi, with 106 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 316 $90,320,000 $285,823 $5,389 2.94%
15 Year 16 $3,720,000 $232,500 $2,986 2.52%
20 Year 11 $2,145,000 $195,000 $3,051 2.97%
Other 3 $1,005,000 $335,000 $4,682 3.13%
10 Year 1 $65,000 $65,000 $2,203 2.50%

For the 2021, Johnson Mortgage Company 's most frequently cited loan length of loans were 30 Year, with 316 originations. The 2nd most popular length of loans were 15 Year, with 16 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 211 $59,365,000 $281,351
$1k-2k 54 $13,420,000 $248,519
$2k-3k 35 $9,195,000 $262,714
$3k-4k 31 $8,515,000 $274,677
$5k+ 16 $6,760,000 $422,500

$5,389 of loans were Johnson Mortgage Company 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 211 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 139 $36,405,000 $261,906
2.5-3% 138 $41,320,000 $299,420
<2.5% 69 $19,405,000 $281,232
4-5% 1 $125,000 $125,000

During 2021, Johnson Mortgage Company 's average interest rate of loans were 2.94%, while their most frequently originated rate bucket of loans were 3-4%, with 139 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 175 $51,175,000 $292,429 $5,408 2.90%
$100k-200k 99 $15,515,000 $156,717 $4,028 2.94%
$400k-600k 41 $19,525,000 $476,220 $7,349 2.95%
$100,000 or less 19 $435,000 $22,895 $734 3.11%
$600k-1MM 12 $9,100,000 $758,333 $11,232 2.73%
$1MM+ 1 $1,505,000 $1,505,000 $5,536 3.00%

2021 saw Johnson Mortgage Company place emphasis on $200k-400k loans with 175 originations, totaling $51,175,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$75k-100k 89 $23,715,000 $266,461 $5,190 2.98%
$50k-75k 86 $16,070,000 $186,860 $4,442 3.03%
$100k-150k 61 $21,425,000 $351,230 $4,955 2.94%
$50k or less 43 $7,425,000 $172,674 $4,493 2.70%
$150k-250k 41 $17,655,000 $430,610 $7,391 2.90%
$250k+ 16 $8,040,000 $502,500 $7,618 2.93%

Johnson Mortgage Company lent most frequently to those with incomes in the $75k-100k range, with 89 originations. The second most popular income band? $50k-75k, with 86 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 97 $26,195,000 $270,052 $4,895 2.98%
30-36% 69 $17,505,000 $253,696 $4,530 3.01%
<20% 17 $4,505,000 $265,000 $4,140 2.76%
44% 15 $4,615,000 $307,667 $4,172 3.11%
42% 14 $4,090,000 $292,143 $6,502 2.75%
41% 14 $3,150,000 $225,000 $5,403 2.81%
39% 13 $4,775,000 $367,308 $8,331 2.75%
49% 11 $2,905,000 $264,091 $5,803 2.94%
37% 11 $2,265,000 $205,909 $4,815 3.10%
40% 11 $3,085,000 $280,455 $4,831 2.92%
43% 10 $2,470,000 $247,000 $5,007 2.96%
36% 10 $1,980,000 $198,000 $5,824 2.76%
50-60% 10 $4,440,000 $444,000 $9,460 2.81%
38% 9 $3,385,000 $376,111 $5,847 2.90%
45% 9 $4,195,000 $466,111 $7,124 2.96%
48% 8 $2,230,000 $278,750 $5,432 2.83%
46% 4 $1,120,000 $280,000 $3,250 2.97%
47% 2 $730,000 $365,000 $8,041 2.81%
>60% 1 $355,000 $355,000 $3,072 2.88%

Johnson Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 97 originations. The next most common DTI ratio? 30-36%, with 69 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 233 $70,135,000 $301,009 $5,004 2.96%
Black 95 $20,615,000 $217,000 $5,380 2.82%
Not provided 10 $4,440,000 $444,000 $7,556 2.93%
Asian 4 $1,050,000 $262,500 $4,496 2.84%
Other Asian 3 $605,000 $201,667 $6,322 3.08%
American Indian 1 $305,000 $305,000 $8,221 3.25%
Not applicable 1 $105,000 $105,000 $2,757 2.88%

Approval Rates

Total approvals of all applications
97.59%

Johnson Mortgage Company 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
82.21%

Johnson Mortgage Company has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 347 $97,255,000 $280,274

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
347 $97,255,000 $280,274

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 8 $1,510,000 $188,750 $2,678 2.92%
40-60% 33 $8,805,000 $266,818 $3,437 2.90%
60-80% 107 $29,725,000 $277,804 $4,470 3.01%
80-100% 169 $51,295,000 $303,521 $5,850 2.88%
Over 100% 13 $5,065,000 $389,615 $13,741 2.68%
Under 20% 15 $155,000 $10,333 $317 3.08%