Tidewater Home Funding Mortgage Rates, Fees & Info

CHESAPEAKE, VA

LEI: 549300XL5688T9WLKS84

Tax ID: 54-1969262

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

    Tidewater Home Funding is a smaller mortgage company specializing in Home Purchase loans. Tidewater Home Funding 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, Richmond, Kill Devil Hills, Washington, and Elizabeth City among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Tidewater Home Funding has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Tidewater Home Funding 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 6.55% 11/21/24
    30 Year Conventional Refi 6.80% 11/21/24
    30 Year Cash-out Refi 6.85% 11/21/24
    30 Year FHA Purchase 7.30% 11/21/24
    30 Year FHA Refi 7.67% 11/21/24
    30 Year VA Purchase 6.33% 11/21/24
    30 Year VA Refi 6.56% 11/21/24
    30 Year USDA Purchase 6.94% 11/21/24
    15 Year Conventional Purchase 6.06% 11/21/24
    15 Year Conventional Refi 6.31% 11/21/24
    15 Year Cash-out Refi 6.31% 11/21/24
    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.

    Tidewater Home Funding Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Tidewater Home Funding. 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

    1,432

    Origination Dollar Volume (All Markets)

    $414,850,000
    Show all (8) 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) 889 $251,455,000 $282,852 $5,156 3.02%
    RICHMOND, VA (FHA|USDA|VA) 378 $119,060,000 $314,974 $4,471 3.02%
    Outside of Metro Areas 83 $19,775,000 $238,253 $4,154 3.15%
    Kill Devil Hills, NC (FHA|USDA|VA) 27 $9,585,000 $355,000 $3,604 3.19%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 10 $4,060,000 $406,000 $6,126 3.03%
    Elizabeth City, NC (FHA|USDA|VA) 16 $3,580,000 $223,750 $3,762 3.13%
    Roanoke Rapids, NC (FHA|USDA|VA) 5 $1,075,000 $215,000 $3,583 3.08%
    WILMINGTON, NC (FHA|USDA|VA) 2 $680,000 $340,000 $6,949 2.81%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $630,000 $315,000 $12,452 2.69%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $550,000 $275,000 $2,003 2.69%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $525,000 $525,000 $9,570 3.25%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $510,000 $127,500 $2,553 3.44%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $465,000 $465,000 $10,847 2.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $445,000 $445,000 $4,854 2.75%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $355,000 $355,000 $4,838 2.88%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $350,000 $175,000 $5,613 3.38%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $295,000 $295,000 $3,326 3.50%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $255,000 $255,000 $2,621 2.75%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $255,000 $255,000 $1,811 2.88%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $9,178 2.88%
    NEW BERN, NC (FHA|USDA|VA) 1 $235,000 $235,000 $3,736 3.88%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $195,000 $195,000 $4,070 3.25%
    GREENVILLE, NC (FHA|USDA|VA) 1 $145,000 $145,000 $1,866 2.75%
    Danville, VA (FHA|USDA|VA) 1 $125,000 $125,000 $618 3.38%
    Tidewater Home Funding's top markets include Virginia Beach, Richmond, Kill Devil Hills, Washington, and Elizabeth City among others.

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

    • Similar Lenders

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

    HENRICO Federal Credit Union
    Similarity Rank: 420
    ABNB Federal Credit Union
    Similarity Rank: 544
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 722
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 860
    JAMS-01, INC.
    Similarity Rank: 2040
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2088
    Aurora Financial, LLC
    Similarity Rank: 2190
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 2755
    C&F Select LLC
    Similarity Rank: 3024
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 3190

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 896 $264,120,000 $294,777 $3,913 3.14%
    VA 253 $83,455,000 $329,862 $6,747 2.77%
    FHA 246 $59,550,000 $242,073 $6,452 2.96%
    USDA 37 $7,725,000 $208,784 $3,927 2.90%

    For 2021, Tidewater Home Funding's most frequently originated type of loan was Conventional, with 896 originations. Their 2nd most popular type was VA, with 253 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 967 $288,775,000 $298,630 $5,018 3.06%
    Refi 288 $80,570,000 $279,757 $4,191 2.88%
    Cash Out Refi 177 $45,505,000 $257,090 $5,190 3.17%

    For 2021, Tidewater Home Funding's most frequently cited loan purpose was Home Purchase, with 967 originations. The 2nd most popular reason was Refi, with 288 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,324 $390,830,000 $295,189 $4,960 3.06%
    15 Year 80 $18,070,000 $225,875 $3,929 2.64%
    20 Year 22 $4,710,000 $214,091 $3,796 2.93%
    Other 5 $965,000 $193,000 $3,126 2.90%
    10 Year 1 $275,000 $275,000 $3,752 2.13%

    For 2021, Tidewater Home Funding's most frequently cited loan duration was 30 Year, with 1,324 originations. The 2nd most popular length was 15 Year, with 80 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 740 $210,850,000 $284,932
    $1k-2k 339 $84,895,000 $250,428
    $2k-3k 145 $40,635,000 $280,241
    $3k-4k 69 $24,305,000 $352,246
    $5k+ 63 $35,295,000 $560,238
    $4k-5k 23 $9,815,000 $426,739

    Tidewater Home Funding's average total fees were $4,960, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 740 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 636 $190,480,000 $299,497
    3-4% 616 $175,090,000 $284,237
    <2.5% 155 $45,055,000 $290,677
    4-5% 25 $4,225,000 $169,000

    During 2021, Tidewater Home Funding's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 636 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 750 $214,380,000 $285,840 $4,775 3.01%
    $100k-200k 362 $58,020,000 $160,276 $3,462 3.12%
    $400k-600k 237 $111,755,000 $471,540 $6,670 2.93%
    $100,000 or less 47 $3,655,000 $77,766 $2,846 3.25%
    $600k-1MM 32 $21,970,000 $686,563 $9,641 3.12%
    $1MM+ 4 $5,070,000 $1,267,500 $17,033 3.28%

    2021 saw Tidewater Home Funding place emphasis on $200k-400k loans with 750 originations, totaling $214,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 357 $81,375,000 $227,941 $4,750 3.06%
    $100k-150k 347 $115,365,000 $332,464 $4,828 3.08%
    $75k-100k 236 $66,000,000 $279,661 $5,187 2.99%
    $50k or less 226 $43,010,000 $190,310 $3,802 2.95%
    $150k-250k 195 $76,325,000 $391,410 $5,405 3.06%
    $250k+ 66 $31,600,000 $478,788 $7,213 3.17%

    Tidewater Home Funding lent most frequently to those with incomes in the $50k-75k range, with 357 originations. The second most popular income band? $100k-150k, with 347 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 318 $93,910,000 $295,314 $4,401 3.04%
    30-36% 286 $83,310,000 $291,294 $4,711 3.06%
    <20% 101 $27,025,000 $267,574 $3,803 2.97%
    42% 68 $19,700,000 $289,706 $5,246 3.09%
    39% 68 $20,770,000 $305,441 $5,175 3.15%
    44% 62 $16,010,000 $258,226 $4,847 3.06%
    43% 59 $17,145,000 $290,593 $5,648 3.18%
    41% 58 $17,770,000 $306,379 $5,664 3.05%
    38% 57 $17,045,000 $299,035 $4,770 3.11%
    40% 56 $16,610,000 $296,607 $5,416 3.08%
    36% 52 $13,320,000 $256,154 $4,266 3.07%
    37% 45 $12,305,000 $273,444 $5,201 3.04%
    50-60% 45 $15,185,000 $337,444 $8,228 2.85%
    46% 32 $9,100,000 $284,375 $5,667 3.10%
    45% 27 $7,725,000 $286,111 $4,500 3.04%
    47% 22 $6,190,000 $281,364 $5,882 3.05%
    48% 18 $5,440,000 $302,222 $5,335 2.90%
    49% 17 $4,705,000 $276,765 $6,702 3.03%
    >60% 1 $255,000 $255,000 $3,334 2.38%

    Tidewater Home Funding lent most frequently to those with DTI ratios of 20-30%, with 318 originations. The next most common DTI ratio? 30-36%, with 286 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,119 $323,625,000 $289,209 $4,844 3.04%
    Black 190 $53,780,000 $283,053 $5,231 3.05%
    Not provided 65 $20,105,000 $309,308 $4,064 3.01%
    Asian 45 $14,405,000 $320,111 $5,179 3.03%
    American Indian 5 $1,075,000 $215,000 $4,710 3.20%
    Native Hawaiian or Islander 3 $785,000 $261,667 $5,938 2.92%
    Other Pacific Islander 2 $510,000 $255,000 $6,711 2.94%
    Other Asian 2 $350,000 $175,000 $3,231 3.94%
    Filipino 1 $215,000 $215,000 $8,973 2.38%

    Approval Rates

    Total approvals of all applications
    98.50%

    Tidewater Home Funding 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
    90.50%

    Tidewater Home Funding has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 7 $2,095,000 $299,286
    NA 1,425 $412,755,000 $289,653

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,432 $414,850,000 $289,700

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $6,170,000 $162,368 $3,503 2.99%
    40-60% 138 $31,610,000 $229,058 $3,310 2.96%
    60-80% 364 $102,850,000 $282,555 $4,029 3.16%
    80-100% 813 $248,645,000 $305,836 $5,020 3.01%
    Over 100% 77 $25,415,000 $330,065 $10,272 2.83%
    Under 20% 2 $160,000 $80,000 $0 3.69%