Virginia National Bank Mortgage Rates, Fees & Info

Charlottesville, VA

LEI: 549300XE6SNRPD2GUD44

Tax ID: 54-1902129

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Virginia National Bank is a smaller bank specializing in Home Purchase loans. Virginia National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Charlottesville, Washington, Greensboro, and Harrisonburg among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Virginia National Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

68

Origination Dollar Volume (All Markets)

$31,710,000

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) 29 $18,555,000 $639,828 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 12 $5,440,000 $453,333 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $2,380,000 $297,500 $0 0.00%
Outside of Metro Areas 3 $1,505,000 $501,667 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 4 $970,000 $242,500 $0 0.00%
HARRISONBURG, VA (FHA|USDA|VA) 2 $580,000 $290,000 $0 0.00%
Danville, VA (FHA|USDA|VA) 2 $580,000 $290,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
STAUNTON, VA (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 2 $230,000 $115,000 $0 0.00%
Mount Airy, NC (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
LYNCHBURG, VA (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Virginia National Bank's top markets include Richmond, Charlottesville, Washington, Greensboro, and Harrisonburg among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 68 $31,710,000 $466,324 $0 0.00%

    For 2022, Virginia National Bank's most frequently originated type of loan was Conventional, with 68 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $22,970,000 $499,348 $0 0.00%
    Refi 18 $5,520,000 $306,667 $0 0.00%
    Home Improvement 4 $3,220,000 $805,000 $0 0.00%

    For 2022, Virginia National Bank's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 68 $31,710,000 $466,324 $0 0.00%

    For 2022, Virginia National Bank's most frequently cited loan duration was Other, with 68 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 25 $7,115,000 $284,600 $0 0.00%
    $100k-200k 15 $2,395,000 $159,667 $0 0.00%
    $100,000 or less 8 $630,000 $78,750 $0 0.00%
    $1MM+ 8 $14,220,000 $1,777,500 $0 0.00%
    $400k-600k 7 $3,565,000 $509,286 $0 0.00%
    $600k-1MM 5 $3,785,000 $757,000 $0 0.00%

    2022 saw Virginia National Bank place emphasis on $200k-400k loans with 25 originations, totaling $7,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 3 $255,000 $85,000 $0 0.00%
    $100k-150k 2 $610,000 $305,000 $0 0.00%
    $150k-250k 2 $1,720,000 $860,000 $0 0.00%
    $250k+ 2 $360,000 $180,000 $0 0.00%
    $50k-75k 1 $65,000 $65,000 $0 0.00%

    Virginia National Bank lent most frequently to those with incomes in the $50k or less range, with 3 originations. The second most popular income band? $100k-150k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 68 $31,710,000 $466,324 $0 0.00%

    Virginia National Bank lent most frequently to those with DTI ratios of Exempt%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 58 $28,700,000 $494,828 $0 0.00%
    White 9 $2,675,000 $297,222 $0 0.00%
    Not provided 1 $335,000 $335,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.18%

    Virginia National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    51.47%

    Virginia National Bank 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
    Exempt 68 $31,710,000 $466,324

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    68 $31,710,000 $466,324