Dragas Mortgage Company Interest Rate and Cost Review

Is Dragas Mortgage Company a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Dragas Mortgage Company to those of other lenders for a comparable set of borrowers. Here is our review of Dragas Mortgage Company nationally:

Review ItemDragas Mortgage Company
Interest Ratesimilar to other lenders (-0.00%)
Loan Related Closing Costssimilar to other lenders (-$216)
National Rate and Closing Cost Star Rating(3.5)

On average, Dragas Mortgage Company’s interest rates were similar to those of other lenders (-0.00%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$216. Overall, combining interest rates and closing costs we estimate that Dragas Mortgage Company tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Dragas Mortgage Company, check out its website at: https://www.dragas.com.

Dragas Mortgage Company’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Dragas Mortgage Company was most active in:

  1. Virginia Beach, VA
  2. Chincoteague, VA
  3. Washington, DC

Dragas Mortgage Company’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Dragas Mortgage Company originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingFHAVA
Interest Rate Difference-0.03%-0.05%+0.04%
Loan Related Closing Cost Difference-$286-$146-$192
Cost Adjusted Rate Difference-0.11%-0.06%+0.03%
National Star Rating(4)(4)(3.5)
Refinance MortgagesConformingVA
Interest Rate Difference-0.01%+0.00%
Loan Related Closing Cost Difference-$82-$29
Cost Adjusted Rate Difference-0.01%-0.00%
Average Star Rating(3.5)(3.5)

As a summary, Dragas Mortgage Company is cheap for Conforming and FHA purchase mortgages. It is similar to other lenders for VA purchase mortgages. For refinancing mortgages, Dragas Mortgage Company is similar to other lenders for Conforming and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Dragas Mortgage Company:

Registered name: Dragas Mortgage Company
Registered city and state: VIRGNIA BEACH, VA, 23462
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Dragas Mortgage Company’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.