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
  • 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

    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, Charlotte, and Kill Devil Hills among others. We have data for 7 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% 4/19/24
    30 Year Conventional Refi 6.72% 4/19/24
    30 Year Cash-out Refi 6.85% 4/19/24
    30 Year FHA Purchase 6.72% 4/19/24
    30 Year VA Purchase 6.20% 4/19/24
    30 Year VA Refi 5.48% 4/19/24
    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

    204

    Origination Dollar Volume (All Markets)

    $50,990,000

    Awards

    JOHNSON MORTGAGE COMPANY FHA Loans bronze JOHNSON MORTGAGE COMPANY FHA Loans silver JOHNSON MORTGAGE COMPANY VA Loans silver JOHNSON MORTGAGE COMPANY VA Loans bronze
    Show all (4) 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) 118 $22,420,000 $190,000 $4,768 4.09%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 55 $19,355,000 $351,909 $6,199 3.96%
    Outside of Metro Areas 22 $6,340,000 $288,182 $4,255 4.19%
    RICHMOND, VA (FHA|USDA|VA) 5 $1,695,000 $339,000 $6,574 4.08%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $680,000 $340,000 $3,534 3.75%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $345,000 $345,000 $4,833 4.38%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $155,000 $155,000 $5,449 3.55%
    Johnson Mortgage Company's top markets include Virginia Beach, Washington, Richmond, Charlotte, and Kill Devil Hills among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (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: 75
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 160
    CHARTWAY FEDERAL CREDIT UNION
    Similarity Rank: 517
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 530
    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 636
    NYMEO FEDERAL CREDIT UNION
    Similarity Rank: 697
    Southern Bank and Trust Company
    Similarity Rank: 825
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 828
    1ST ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 861
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 888

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $27,430,000 $240,614 $4,056 4.24%
    FHA 46 $9,270,000 $201,522 $6,402 3.97%
    VA 38 $13,170,000 $346,579 $6,726 3.71%
    USDA 6 $1,120,000 $186,667 $5,526 3.48%

    For 2019, Johnson Mortgage Company's most frequently originated type of loan was Conventional, with 114 originations. Their 2nd most popular type was FHA, with 46 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 158 $37,300,000 $236,076 $5,236 4.06%
    Refi 25 $7,315,000 $292,600 $4,226 3.95%
    Cash Out Refi 21 $6,375,000 $303,571 $5,537 4.14%

    For 2019, Johnson Mortgage Company's most frequently cited loan purpose was Home Purchase, with 158 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 195 $49,035,000 $251,462 $5,223 4.06%
    15 Year 6 $1,120,000 $186,667 $3,439 3.96%
    20 Year 2 $580,000 $290,000 $2,884 4.06%
    Other 1 $255,000 $255,000 $3,936 4.25%

    For 2019, Johnson Mortgage Company's most frequently cited loan duration was 30 Year, with 195 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 96 $20,920,000 $217,917
    $1k-2k 24 $6,310,000 $262,917
    $5k+ 18 $7,450,000 $413,889
    $2k-3k 17 $4,575,000 $269,118
    $3k-4k 16 $4,590,000 $286,875
    $4k-5k 11 $3,185,000 $289,545

    Johnson Mortgage Company's average total fees were $5,223, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 96 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 109 $29,285,000 $268,670
    4-5% 84 $20,210,000 $240,595
    5-6% 8 $710,000 $88,750
    2.5-3% 3 $785,000 $261,667

    During 2019, Johnson Mortgage Company's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 109 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 83 $24,795,000 $298,735 $6,101 3.95%
    $100k-200k 64 $10,000,000 $156,250 $4,550 4.16%
    $400k-600k 28 $12,970,000 $463,214 $7,354 3.87%
    $100,000 or less 25 $645,000 $25,800 $909 4.33%
    $600k-1MM 4 $2,580,000 $645,000 $6,599 4.25%

    2019 saw Johnson Mortgage Company place emphasis on $200k-400k loans with 83 originations, totaling $24,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 53 $8,225,000 $155,189 $4,276 4.15%
    $50k or less 41 $5,785,000 $141,098 $3,347 4.13%
    $100k-150k 38 $12,010,000 $316,053 $6,720 3.91%
    $75k-100k 33 $9,045,000 $274,091 $5,818 3.94%
    $150k-250k 31 $12,595,000 $406,290 $6,129 4.12%
    $250k+ 8 $3,330,000 $416,250 $6,339 4.04%

    Johnson Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 53 originations. The second most popular income band? $50k or less, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 46 $11,500,000 $250,000 $5,425 4.02%
    20-30% 31 $7,875,000 $254,032 $5,361 4.04%
    <20% 26 $3,640,000 $140,000 $3,087 4.21%
    43% 14 $3,530,000 $252,143 $5,797 4.24%
    44% 12 $3,910,000 $325,833 $6,334 4.13%
    38% 12 $2,640,000 $220,000 $4,798 3.93%
    40% 10 $2,220,000 $222,000 $4,634 4.33%
    50-60% 9 $2,855,000 $317,222 $6,539 3.75%
    37% 6 $1,580,000 $263,333 $5,358 4.05%
    41% 6 $1,690,000 $281,667 $4,864 4.02%
    39% 6 $1,440,000 $240,000 $3,651 4.04%
    36% 5 $1,305,000 $261,000 $6,162 3.84%
    46% 5 $1,865,000 $373,000 $6,651 3.96%
    47% 4 $1,390,000 $347,500 $7,012 3.69%
    48% 4 $810,000 $202,500 $4,759 4.34%
    42% 3 $885,000 $295,000 $7,142 3.75%
    45% 2 $860,000 $430,000 $4,814 4.04%
    49% 1 $175,000 $175,000 $5,427 4.88%

    Johnson Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 46 originations. The next most common DTI ratio? 20-30%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 148 $41,450,000 $280,068 $5,194 4.06%
    Black 53 $8,865,000 $167,264 $5,142 4.04%
    Not provided 2 $500,000 $250,000 $3,152 4.00%
    Asian 1 $175,000 $175,000 $3,342 4.13%

    Approval Rates

    Total approvals of all applications
    98.03%

    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
    78.43%

    Johnson Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 204 $50,990,000 $249,951

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $320,000 $160,000
    Single Family (1-4 Units):Site-Built 202 $50,670,000 $250,842

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $155,000 $155,000 $2,926 3.99%
    40-60% 12 $2,770,000 $230,833 $3,683 4.12%
    60-80% 23 $6,805,000 $295,870 $4,766 4.22%
    80-100% 140 $38,660,000 $276,143 $5,875 4.03%
    Over 100% 7 $2,035,000 $290,714 $9,417 3.39%
    Under 20% 17 $205,000 $12,059 $364 4.35%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    JAMS-01, Inc Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%