Johnson Mortgage Company Rates, Fees & Info

NEWPORT NEWS, VA

LEI: 549300V0XUOYKG376I21

Tax ID: 54-1895449

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
  • 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

    Johnson Mortgage Company is a smaller mortgage company specializing in Home Purchase 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 by origination volume include: Virginia Beach, Washington, Richmond, and Lynchburg among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Johnson Mortgage Company 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. Johnson Mortgage Company 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.44% 12/16/24
    30 Year Conventional Refi 6.72% 12/16/24
    30 Year Cash-out Refi 6.85% 12/16/24
    30 Year FHA Purchase 6.72% 12/16/24
    30 Year VA Purchase 6.20% 12/16/24
    30 Year VA Refi 5.48% 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.

    Johnson Mortgage Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Johnson Mortgage Company. 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

    155

    Origination Dollar Volume (All Markets)

    $33,725,000

    Awards

    JOHNSON MORTGAGE COMPANY 30 Year Conventional Loans silver JOHNSON MORTGAGE COMPANY FHA Loans silver JOHNSON MORTGAGE COMPANY FHA Loans silver
    Show all (3) 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
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 104 $18,770,000 $180,481 $4,760 4.75%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 28 $8,920,000 $318,571 $4,923 4.69%
    Outside of Metro Areas 17 $4,665,000 $274,412 $5,366 4.87%
    RICHMOND, VA (FHA|USDA|VA) 5 $1,095,000 $219,000 $3,849 4.75%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $275,000 $275,000 $2,768 4.25%
    Johnson Mortgage Company's top markets include Virginia Beach, Washington, Richmond, and Lynchburg among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Similar Lenders

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

    ABNB Federal Credit Union
    Similarity Rank: 40
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 123
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 147
    Bank of Clarke County
    Similarity Rank: 320
    LIBRARY OF CONGRESS
    Similarity Rank: 448
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 666
    EDUCATIONAL SYSTEMS
    Similarity Rank: 693
    Virginia Commonwealth Bank
    Similarity Rank: 760

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $19,070,000 $221,744 $3,437 4.96%
    FHA 47 $8,295,000 $176,489 $6,282 4.54%
    VA 21 $6,065,000 $288,810 $7,129 4.35%
    USDA 1 $295,000 $295,000 $6,049 4.50%

    For 2018, Johnson Mortgage Company's most frequently originated type of loan was Conventional, with 86 originations. Their 2nd most popular type was FHA, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $25,135,000 $204,350 $4,979 4.77%
    Cash Out Refi 17 $5,015,000 $295,000 $4,262 4.75%
    Refi 15 $3,575,000 $238,333 $4,076 4.50%

    For 2018, Johnson Mortgage Company's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 150 $32,410,000 $216,067 $4,865 4.75%
    15 Year 4 $1,040,000 $260,000 $3,125 4.48%
    Other 1 $275,000 $275,000 $3,568 4.75%

    For 2018, Johnson Mortgage Company's most frequently cited loan duration was 30 Year, with 150 originations. The 2nd most popular length was 15 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 84 $17,100,000 $203,571
    $1k-2k 19 $3,565,000 $187,632
    $3k-4k 13 $2,695,000 $207,308
    $2k-3k 12 $3,410,000 $284,167
    $5k+ 7 $2,855,000 $407,857
    $4k-5k 6 $1,780,000 $296,667

    Johnson Mortgage Company's average total fees were $4,865, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 84 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 99 $23,045,000 $232,778
    5-6% 43 $7,205,000 $167,558
    3-4% 13 $3,475,000 $267,308

    During 2018, Johnson Mortgage Company's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 99 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 66 $9,830,000 $148,939 $4,282 4.85%
    $200k-400k 58 $16,310,000 $281,207 $5,950 4.60%
    $100,000 or less 17 $635,000 $37,353 $1,414 4.91%
    $400k-600k 12 $5,590,000 $465,833 $6,210 4.71%
    $600k-1MM 2 $1,360,000 $680,000 $10,953 4.31%

    2018 saw Johnson Mortgage Company place emphasis on $100k-200k loans with 66 originations, totaling $9,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 52 $9,460,000 $181,923 $4,060 4.84%
    $50k or less 43 $5,465,000 $127,093 $4,252 4.78%
    $100k-150k 32 $8,870,000 $277,188 $5,581 4.67%
    $75k-100k 12 $2,780,000 $231,667 $6,155 4.55%
    $150k-250k 11 $5,315,000 $483,182 $6,823 4.72%
    $250k+ 4 $1,660,000 $415,000 $5,720 4.56%

    Johnson Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 52 originations. The second most popular income band? $50k or less, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 31 $6,565,000 $211,774 $4,783 4.72%
    20-30% 26 $6,440,000 $247,692 $4,487 4.72%
    43% 13 $2,085,000 $160,385 $3,975 5.17%
    <20% 11 $595,000 $54,091 $867 4.80%
    40% 11 $2,565,000 $233,182 $4,616 4.75%
    39% 9 $1,575,000 $175,000 $5,370 4.76%
    42% 8 $1,570,000 $196,250 $6,160 4.66%
    41% 8 $1,580,000 $197,500 $4,884 4.53%
    49% 7 $1,555,000 $222,143 $4,650 4.61%
    50-60% 6 $1,990,000 $331,667 $8,003 4.47%
    38% 4 $1,570,000 $392,500 $7,650 4.35%
    44% 4 $780,000 $195,000 $3,245 5.28%
    37% 4 $1,080,000 $270,000 $4,063 4.93%
    46% 3 $825,000 $275,000 $7,836 4.67%
    45% 3 $765,000 $255,000 $8,454 4.73%
    47% 3 $775,000 $258,333 $8,655 4.54%
    36% 2 $670,000 $335,000 $4,487 4.56%
    48% 1 $565,000 $565,000 $5,930 5.00%
    >60% 1 $175,000 $175,000 $2,967 4.50%

    Johnson Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 31 originations. The next most common DTI ratio? 20-30%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 94 $24,440,000 $260,000 $5,158 4.70%
    Black 57 $8,645,000 $151,667 $4,152 4.83%
    Native Hawaiian or Islander 2 $270,000 $135,000 $4,876 4.34%
    Other Asian 1 $245,000 $245,000 $13,151 4.25%
    Asian 1 $125,000 $125,000 $1,955 5.25%

    Approval Rates

    Total approvals of all applications
    96.21%

    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
    72.90%

    Johnson Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 155 $33,725,000 $217,581

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 155 $33,725,000 $217,581

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $180,000 $90,000 $2,319 5.21%
    40-60% 4 $880,000 $220,000 $2,858 4.69%
    60-80% 21 $6,045,000 $287,857 $4,649 4.79%
    80-100% 113 $24,925,000 $220,575 $5,140 4.74%
    Over 100% 3 $995,000 $331,667 $11,201 4.50%
    Under 20% 10 $60,000 $6,000 $214 4.84%