Dominion Energy Credit Union Mortgage Rates, Fees & Info

Richmond, VA

LEI: 549300VA7HOYYKO7DN28

Tax ID: 54-6039972

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

    Dominion Energy Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Dominion Energy Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Columbia, Washington, Virginia Beach, and Cleveland among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Dominion Energy Credit Union 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. Dominion Energy Credit Union 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.11% 5/4/24
    30 Year Conventional Refi 6.29% 5/4/24
    30 Year Cash-out Refi 6.02% 5/4/24
    30 Year FHA Purchase 6.27% 5/4/24
    15 Year Conventional Purchase 5.44% 5/4/24
    15 Year Conventional Refi 6.61% 5/4/24
    15 Year Cash-out Refi 6.61% 5/4/24
    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.

    Dominion Energy Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Dominion Energy Credit Union. 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

    142

    Origination Dollar Volume (All Markets)

    $29,270,000

    Awards

    DOMINION ENERGY CREDIT UNION 30 Year Conventional Loans silver DOMINION ENERGY CREDIT UNION 30 Year Conventional Loans bronze
    Show all (2) 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
    RICHMOND, VA (FHA|USDA|VA) 76 $16,940,000 $222,895 $2,334 3.52%
    Outside of Metro Areas 18 $2,820,000 $156,667 $1,927 3.50%
    COLUMBIA, SC (FHA|USDA|VA) 10 $2,190,000 $219,000 $2,793 2.75%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 10 $1,890,000 $189,000 $1,887 3.61%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 8 $1,290,000 $161,250 $2,283 3.91%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 5 $1,115,000 $223,000 $3,347 3.20%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $535,000 $178,333 $2,335 2.58%
    AKRON, OH (FHA|USDA|VA) 3 $515,000 $171,667 $2,820 2.71%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $495,000 $495,000 $3,759 3.50%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $365,000 $365,000 $2,904 3.13%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $285,000 $285,000 $2,123 2.75%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $225,000 $225,000 $2,523 3.00%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $175,000 $175,000 $2,932 3.00%
    WHEELING, WV-OH (FHA|USDA|VA) 1 $155,000 $155,000 $2,925 3.50%
    Orangeburg, SC (FHA|USDA|VA) 1 $125,000 $125,000 $2,761 3.13%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $115,000 $115,000 $1,991 3.25%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $35,000 $35,000 $212 5.00%
    Dominion Energy Credit Union's top markets include Richmond, Columbia, Washington, Virginia Beach, and Cleveland among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    JAMS-01, INC.
    Similarity Rank: 1417
    C&F Select LLC
    Similarity Rank: 1570
    LENDERFI, INC.
    Similarity Rank: 1896
    The Freedom Bank of Virginia
    Similarity Rank: 2052
    VILLAGE BANK MORTGAGE CORPORATION
    Similarity Rank: 2628
    NewTowne Mortgage, LLC
    Similarity Rank: 2783
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 2941
    Aurora Financial, LLC
    Similarity Rank: 3010
    Virginia Credit Union, Inc.
    Similarity Rank: 3728
    LANGLEY
    Similarity Rank: 3864

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 129 $28,295,000 $219,341 $2,342 3.26%
    HELOC 13 $975,000 $75,000 n/a 5.09%

    For 2020, Dominion Energy Credit Union's most frequently originated type of loan was Conventional, with 129 originations. Their 2nd most popular type was HELOC, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 51 $6,955,000 $136,373 $1,714 4.18%
    Refi 49 $11,565,000 $236,020 $2,376 2.79%
    Home Purchase 29 $7,765,000 $267,759 $3,077 3.38%
    Other 12 $2,830,000 $235,833 $2,353 3.08%
    Home Improvement 1 $155,000 $155,000 $3,078 2.75%

    For 2020, Dominion Energy Credit Union's most frequently cited loan purpose was Cash Out Refi, with 51 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 57 $8,625,000 $151,316 $1,945 3.60%
    30 Year 51 $13,175,000 $258,333 $2,707 3.38%
    20 Year 26 $6,670,000 $256,538 $2,654 2.98%
    10 Year 6 $650,000 $108,333 $1,475 3.63%
    Other 2 $150,000 $75,000 $320 5.00%

    For 2020, Dominion Energy Credit Union's most frequently cited loan duration was 15 Year, with 57 originations. The 2nd most popular length was 30 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 115 $25,085,000 $218,130
    $1k-2k 9 $1,555,000 $172,778
    $2k-3k 4 $1,250,000 $312,500
    $3k-4k 1 $405,000 $405,000

    Dominion Energy Credit Union's average total fees were $2,707, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 115 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 51 $12,755,000 $250,098
    2.5-3% 48 $11,020,000 $229,583
    4-5% 16 $1,700,000 $106,250
    <2.5% 15 $3,175,000 $211,667
    5-6% 11 $585,000 $53,182
    6-7% 1 $35,000 $35,000

    During 2020, Dominion Energy Credit Union's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 3-4%, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 64 $17,600,000 $275,000 $2,598 3.10%
    $100k-200k 44 $6,200,000 $140,909 $2,169 3.24%
    $100,000 or less 25 $1,495,000 $59,800 $1,081 4.73%
    $400k-600k 9 $3,975,000 $441,667 $3,775 3.10%

    2020 saw Dominion Energy Credit Union place emphasis on $200k-400k loans with 64 originations, totaling $17,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 51 $12,135,000 $237,941 $2,404 3.37%
    $75k-100k 29 $5,445,000 $187,759 $2,292 3.45%
    $150k-250k 27 $6,035,000 $223,519 $2,406 3.55%
    $50k-75k 23 $3,295,000 $143,261 $2,218 3.31%
    $50k or less 7 $985,000 $140,714 $1,784 3.64%
    $250k+ 5 $1,375,000 $275,000 $3,499 3.52%

    Dominion Energy Credit Union lent most frequently to those with incomes in the $100k-150k range, with 51 originations. The second most popular income band? $75k-100k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 48 $10,700,000 $222,917 $2,623 3.06%
    30-36% 30 $6,000,000 $200,000 $2,373 3.43%
    <20% 17 $3,145,000 $185,000 $2,126 3.48%
    42% 8 $1,820,000 $227,500 $2,781 3.81%
    44% 5 $1,055,000 $211,000 $1,989 3.43%
    41% 4 $790,000 $197,500 $1,395 4.09%
    36% 4 $520,000 $130,000 $1,459 4.15%
    37% 4 $370,000 $92,500 $1,385 4.06%
    39% 4 $660,000 $165,000 $2,364 4.28%
    43% 4 $1,150,000 $287,500 $2,066 3.69%
    48% 4 $1,150,000 $287,500 $2,332 3.53%
    38% 3 $615,000 $205,000 $2,368 3.21%
    45% 2 $520,000 $260,000 $2,487 3.19%
    40% 2 $160,000 $80,000 $1,018 3.94%
    46% 1 $145,000 $145,000 $2,477 3.00%
    47% 1 $375,000 $375,000 $2,358 3.25%
    50-60% 1 $95,000 $95,000 $0 4.99%

    Dominion Energy Credit Union lent most frequently to those with DTI ratios of 20-30%, with 48 originations. The next most common DTI ratio? 30-36%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 102 $21,650,000 $212,255 $2,324 3.43%
    Not provided 18 $3,670,000 $203,889 $2,580 3.32%
    Black 17 $2,705,000 $159,118 $1,944 3.56%
    Asian 3 $785,000 $261,667 $4,060 3.62%
    Asian Indian 1 $405,000 $405,000 $2,859 2.63%
    Chinese 1 $55,000 $55,000 $2,330 3.25%

    Approval Rates

    Total approvals of all applications
    90.75%

    Dominion Energy Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.31%

    Dominion Energy Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 142 $29,270,000 $206,127

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 142 $29,270,000 $206,127

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,210,000 $100,833 $1,346 4.62%
    40-60% 27 $4,865,000 $180,185 $2,505 2.86%
    60-80% 58 $14,580,000 $251,379 $2,401 3.03%
    80-100% 29 $7,745,000 $267,069 $2,890 3.40%
    Under 20% 16 $870,000 $54,375 $549 5.02%