Virginia National Bank Mortgage Rates, Fees & Info

Charlottesville, VA

LEI: 549300XE6SNRPD2GUD44

Tax ID: 54-1902129

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Virginia National Bank is a smaller bank specializing in Home Purchase and Refi loans. Virginia National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Washington, Charlottesville, Virginia Beach, and Roanoke among others. We have data for 11 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.

    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.

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    Originations

    181

    Origination Dollar Volume (All Markets)

    $82,025,000

    Employee count

    171

    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) 83 $33,075,000 $398,494 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 59 $27,835,000 $471,780 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 22 $14,280,000 $649,091 $0 0.00%
    Outside of Metro Areas 7 $3,675,000 $525,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $875,000 $291,667 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
    CLEVELAND, TN (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Virginia National Bank's top markets include Richmond, Washington, Charlottesville, Virginia Beach, and Roanoke among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 181 $82,025,000 $453,177 $0 0.00%

    For 2021, Virginia National Bank's most frequently originated type of loan was Conventional, with 181 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $51,835,000 $421,423 $0 0.00%
    Refi 53 $28,205,000 $532,170 $0 0.00%
    Home Improvement 4 $1,840,000 $460,000 $0 0.00%
    Other 1 $145,000 $145,000 $0 0.00%

    For 2021, Virginia National Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 181 $82,025,000 $453,177 $0 0.00%

    For 2021, Virginia National Bank's most frequently cited loan duration was Other, with 181 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 52 $7,930,000 $152,500 $0 0.00%
    $200k-400k 52 $14,960,000 $287,692 $0 0.00%
    $400k-600k 32 $16,020,000 $500,625 $0 0.00%
    $600k-1MM 23 $17,005,000 $739,348 $0 0.00%
    $1MM+ 17 $25,715,000 $1,512,647 $0 0.00%
    $100,000 or less 5 $395,000 $79,000 $0 0.00%

    2021 saw Virginia National Bank place emphasis on $100k-200k loans with 52 originations, totaling $7,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 21 $19,135,000 $911,190 $0 0.00%
    $150k-250k 13 $8,375,000 $644,231 $0 0.00%
    $50k-75k 12 $2,900,000 $241,667 $0 0.00%
    $100k-150k 10 $3,470,000 $347,000 $0 0.00%
    $75k-100k 8 $2,360,000 $295,000 $0 0.00%
    $50k or less 7 $1,045,000 $149,286 $0 0.00%

    Virginia National Bank lent most frequently to those with incomes in the $250k+ range, with 21 originations. The second most popular income band? $150k-250k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 181 $82,025,000 $453,177 $0 0.00%

    Virginia National Bank lent most frequently to those with DTI ratios of Exempt%, with 181 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 109 $44,575,000 $408,945 $0 0.00%
    White 59 $31,785,000 $538,729 $0 0.00%
    Not provided 11 $5,335,000 $485,000 $0 0.00%
    Asian 1 $165,000 $165,000 $0 0.00%
    Black 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.67%

    Virginia National Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.43%

    Virginia National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 181 $82,025,000 $453,177

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    181 $82,025,000 $453,177

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY Conventional home mortgage Struggling to pay mortgage 1 33.3%
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY FHA mortgage Trouble during payment process 2 66.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Virginia National Bank 10 Court House Square Warrenton, VA 20186 Full Service B&M $263,490
    Virginia National Bank 10260 Bristow's Center Drive Bristow, VA 20136 Full Service B&M $33,929
    Virginia National Bank 15240 Washington Street Haymarket, VA 20169 Full Service B&M $47,272
    Virginia National Bank 1580 Seminole Trail Charlottesville, VA 22901 Full Service B&M $31,107
    Virginia National Bank 1900 Arlington Blvd. Charlottesville, VA 22903 Full Service B&M $190,773
    Virginia National Bank 222 East Main Street Charlottesville, VA 22902 Full Service B&M $173,210
    Virginia National Bank 301 East Water Street Charlottesville, VA 22902 Limited, Drive-thru $0
    Virginia National Bank 3119 Valley Avenue #102 Winchester, VA 22601 Full Service B&M $38,491
    Virginia National Bank 3543 Catlett Rd Catlett, VA 20119 Full Service B&M $48,885
    Virginia National Bank 404 People Place Charlottesville, VA 22911 Full Service B&M $361,962
    Virginia National Bank 5119 Lee Hwy Warrenton, VA 20187 Full Service B&M $90,267
    Virginia National Bank 6207 Station Drive Bealeton, VA 22712 Full Service B&M $60,115
    Virginia National Bank 6464 Main St The Plains, VA 20198 Full Service B&M $37,669
    Virginia National Bank 7485 Limestone Drive Gainesville, VA 20155 Full Service B&M $45,033
    Virginia National Bank 8091 Sudley Road Manassas, VA 20109 Full Service B&M $40,948
    Virginia National Bank 87 West Lee Highway Warrenton, VA 20186 Full Service B&M $138,208
    Virginia National Bank 8780 Centreville Road Manassas, VA 20110 Full Service B&M $28,851

    For 2021, Virginia National Bank had 17 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $48,272
    Net interest income $45,136
    Total noninterest income $8,886
    Gross Fiduciary activities income $1,929
    Service charges on deposit accounts $1,459
    Trading account gains and fees $0
    Additional Noninterest Income $5,498
    Pre-tax net operating income $13,680
    Securities gains (or losses, -) $0
    Income before extraordinary items $11,535
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,535
    Minority interest net income $0
    Net income $11,535
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,535

    Virginia National Bank's gross interest income from loans was $48,272,000.
    Virginia National Bank's net interest income from loans was $45,136,000.
    Virginia National Bank's fee based income from loans was $1,459,000.
    Virginia National Bank's net income from loans was $11,535,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,136
    Provision for credit losses $1,014
    Total noninterest expense $39,328
    Salaries and employee benefits $15,294
    Premises and equipment expense $4,509
    Additional noninterest expense $19,525
    Applicable income taxes $2,145
    Net charge-offs $485
    Cash dividends $7,600

    Virginia National Bank's interest expense for loans was $3,136,000.
    Virginia National Bank's payroll and benefits expense were $15,294,000.
    Virginia National Bank's property, plant and equipment expenses $4,509,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,797,256
    Deposits held in domestic offices $1,797,256
    Deposits by Individuals, partnerships, and corporations $1,665,175
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $127,859
    Deposits by Commercial banks and other depository institutions in U.S. $4,222
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $969,681
    Demand deposits $562,578
    Nontransaction accounts $827,575
    Money market deposit accounts (MMDAs) $545,470
    Other savings deposits (excluding MMDAs) $120,060
    Total time deposits $162,044
    Total time and savings deposits $1,234,678
    Noninterest-bearing deposits $523,367
    Interest-bearing deposits $1,273,889
    Retail deposits $1,751,949
    IRAs and Keogh plan accounts $23,114
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,971,029
    Cash & Balances due from depository institutions $508,270
    Interest-bearing balances $488,511
    Total securities $303,817
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,055,227
    Loan and leases loss allowance $5,984
    Trading account assets $0
    Bank premises and fixed assets $32,658
    Other real estate owned $611
    Goodwill and other intangibles $16,482
    All other assets $53,964

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,971,029
    Total Liabilities $1,807,508
    Total deposits $1,797,256
    Interest-bearing deposits $1,273,889
    Deposits held in domestic offices $1,797,256
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $7,108
    Subordinated debt $0
    All other liabilities $3,144

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,055,227
    Loan and leases loss allowance $5,984
    Total loans and leases (domestic) $1,061,211
    All real estate loans $911,111
    Real estate loans in domestic offices $911,111
    Construction and development loans $79,331
    Residential 1-4 family construction $14,712
    Other construction, all land development and other land $64,619
    Loans secured by nonfarm nonresidential properties $419,880
    Nonfarm nonresidential secured by owner-occupied properties $179,229
    Commercial real estate & other non-farm, non-residential $240,651
    Multifamily residential real estate $53,752
    1-4 family residential loans $345,554
    Farmland loans $12,594
    Loans held in foreign offices $0
    Farm loans $58
    Commercial and industrial loans $94,377
    To non-U.S. addressees $0
    Loans to individuals $53,404
    Credit card loans $0
    Related Plans $18,458
    Consumer Auto Loans $773
    Other loans to individuals $34,173
    All other loans & leases $2,261
    Loans to foreign governments and official institutions $0
    Other loans $2,261
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $962
    Non 1-4 family restructured loans & leases $863
    Total loans and leases (foreign) $0

    Virginia National Bank had $1,055,227,000 of loans outstanding in 2021. $911,111,000 of loans were in real estate loans. $79,331,000 of loans were in development loans. $53,752,000 of loans were in multifamily mortgage loans. $345,554,000 of loans were in 1-4 family mortgage loans. $58,000 of loans were in farm loans. $0 of loans were in credit card loans. $773,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 265 $85,307 $321,913
    Nonfarm, nonresidential loans - <$100k 13 $649 $49,923
    Nonfarm, nonresidential loans - $100-250k 67 $8,684 $129,612
    Nonfarm, nonresidential loans - $250k-1MM 185 $75,974 $410,670
    Commercial & Industrial, US addressed loans - <$1MM 917 $56,563 $61,683
    Commercial & Industrial, US addressed loans - <$100k 625 $15,584 $24,934
    Commercial & Industrial, US addressed loans - $100-250k 155 $12,721 $82,071
    Commercial & Industrial, US addressed loans - $250k-1MM 137 $28,258 $206,263
    Farmland loans - <$1MM 12 $1,936 $161,333
    Farmland loans - <$100k 1 $60 $60,000
    Farmland loans - $100-250k 6 $56 $9,333
    Farmland loans - $250k-1MM 5 $1,820 $364,000
    Agriculture operations loans - <$1MM 1 $58 $58,000
    Agriculture operations loans - <$100k 1 $58 $58,000