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. Their top markets by origination volume include: Washington, Virginia Beach, Durham, California, and Charlotte 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 a high 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% 4/28/24
    30 Year Conventional Refi 6.72% 4/28/24
    30 Year Cash-out Refi 6.85% 4/28/24
    30 Year FHA Purchase 6.72% 4/28/24
    30 Year VA Purchase 6.20% 4/28/24
    30 Year VA Refi 5.48% 4/28/24
    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

    99

    Origination Dollar Volume (All Markets)

    $38,955,000

    Awards

    JOHNSON MORTGAGE COMPANY FHA Loans silver JOHNSON MORTGAGE COMPANY FHA Loans gold JOHNSON MORTGAGE COMPANY 30 Year Conventional Loans bronze JOHNSON MORTGAGE COMPANY FHA Loans gold
    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 27 $15,685,000 $580,926 $16,040 4.57%
    Outside of Metro Areas 24 $13,200,000 $550,000 $14,344 4.47%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 43 $8,485,000 $197,326 $6,588 4.00%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $455,000 $455,000 $10,325 4.38%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $450,000 $225,000 $5,605 4.75%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $385,000 $385,000 $3,627 6.63%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $295,000 $295,000 $8,396 3.63%
    Johnson Mortgage Company's top markets include Washington, Virginia Beach, Durham, California, and Charlotte 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.

    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 4
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 245
    Cedar Point Federal Credit Union
    Similarity Rank: 370
    Chesapeake Bank
    Similarity Rank: 428
    ABNB Federal Credit Union
    Similarity Rank: 738
    Bronco Federal Credit Union
    Similarity Rank: 834
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 1053
    IDB Global Federal Credit Union
    Similarity Rank: 1133
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 1152
    Burke & Herbert Bank & Trust Company
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $16,305,000 $362,333 $8,196 4.34%
    VA 29 $16,065,000 $553,966 $16,031 4.35%
    FHA 25 $6,585,000 $263,400 $10,418 4.21%

    For 2022, Johnson Mortgage Company's most frequently originated type of loan was Conventional, with 45 originations. Their 2nd most popular type was VA, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 86 $34,850,000 $405,233 $11,536 4.39%
    Refi 7 $2,165,000 $309,286 $7,625 3.61%
    Cash Out Refi 6 $1,940,000 $323,333 $8,115 4.08%

    For 2022, Johnson Mortgage Company's most frequently cited loan purpose was Home Purchase, with 86 originations. The 2nd most popular reason was Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 99 $38,955,000 $393,485 $11,052 4.31%

    For 2022, Johnson Mortgage Company's most frequently cited loan duration was 30 Year, with 99 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 39 $21,965,000 $563,205
    $<1k 32 $9,080,000 $283,750
    $4k-5k 15 $3,935,000 $262,333
    $2k-3k 6 $2,230,000 $371,667
    $1k-2k 4 $1,240,000 $310,000
    $3k-4k 3 $505,000 $168,333

    Johnson Mortgage Company's average total fees were $11,052, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 39 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 35 $12,455,000 $355,857
    4-5% 24 $8,490,000 $353,750
    5-6% 15 $6,305,000 $420,333
    6-7% 11 $6,315,000 $574,091
    2.5-3% 10 $4,740,000 $474,000
    <2.5% 4 $650,000 $162,500

    During 2022, Johnson Mortgage Company's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 3-4%, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 35 $9,555,000 $273,000 $8,981 4.48%
    $400k-600k 23 $11,665,000 $507,174 $11,460 3.89%
    $600k-1MM 20 $15,410,000 $770,500 $21,328 4.90%
    $100k-200k 14 $2,280,000 $162,857 $6,250 3.88%
    $100,000 or less 7 $45,000 $6,429 $315 4.04%

    2022 saw Johnson Mortgage Company place emphasis on $200k-400k loans with 35 originations, totaling $9,555,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 25 $14,865,000 $594,600 $15,425 4.69%
    $50k-75k 24 $5,430,000 $226,250 $8,276 4.03%
    $100k-150k 22 $10,440,000 $474,545 $13,324 4.48%
    $50k or less 15 $2,275,000 $151,667 $5,671 3.99%
    $75k-100k 9 $3,345,000 $371,667 $9,833 4.35%
    $250k+ 3 $2,365,000 $788,333 $12,566 4.33%

    Johnson Mortgage Company lent most frequently to those with incomes in the $150k-250k range, with 25 originations. The second most popular income band? $50k-75k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 22 $8,810,000 $400,455 $8,378 3.73%
    50-60% 11 $6,585,000 $598,636 $16,459 5.18%
    20-30% 10 $3,650,000 $365,000 $8,977 4.41%
    42% 8 $2,160,000 $270,000 $12,709 3.89%
    <20% 7 $1,465,000 $209,286 $5,461 4.28%
    36% 6 $2,180,000 $363,333 $11,977 3.73%
    44% 5 $935,000 $187,000 $8,140 4.18%
    39% 5 $2,345,000 $469,000 $13,131 4.48%
    49% 5 $2,835,000 $567,000 $20,624 5.03%
    46% 4 $1,500,000 $375,000 $11,484 4.28%
    47% 4 $2,010,000 $502,500 $17,700 4.28%
    38% 3 $845,000 $281,667 $5,974 5.29%
    41% 2 $970,000 $485,000 $9,085 4.81%
    40% 2 $1,020,000 $510,000 $13,349 4.81%
    37% 1 $325,000 $325,000 $8,922 5.50%
    48% 1 $535,000 $535,000 $9,307 3.75%
    43% 1 $435,000 $435,000 $7,025 7.00%
    45% 1 $115,000 $115,000 $7,489 4.00%

    Johnson Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 22 originations. The next most common DTI ratio? 50-60%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $21,260,000 $442,917 $11,203 4.47%
    Black 37 $9,555,000 $258,243 $8,685 3.98%
    Not provided 12 $6,840,000 $570,000 $17,677 4.53%
    Native Hawaiian or Islander 1 $755,000 $755,000 $17,775 6.63%
    Asian 1 $545,000 $545,000 $5,195 4.38%

    Approval Rates

    Total approvals of all applications
    92.86%

    Johnson Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.84%

    Johnson Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 99 $38,955,000 $393,485

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    99 $38,955,000 $393,485

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 7 $1,985,000 $283,571 $8,278 4.71%
    60-80% 10 $3,550,000 $355,000 $9,501 3.55%
    80-100% 66 $28,630,000 $433,788 $11,331 4.39%
    Over 100% 9 $4,745,000 $527,222 $21,242 4.50%
    Under 20% 7 $45,000 $6,429 $315 4.04%