Tidewater Mortgage Services Interest Rate and Cost Review

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

Review ItemTidewater Mortgage Services
Interest Ratesimilar to other lenders (+0.01%)
Loan Related Closing Costssimilar to other lenders (+$104)
National Rate and Closing Cost Star Rating(3.5)

On average, Tidewater Mortgage Services’s interest rates were similar to those of other lenders (+0.01%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$104. Overall, combining interest rates and closing costs we estimate that Tidewater Mortgage Services 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 Tidewater Mortgage Services, its website is located at: https://www.tidewatermortgage.com.

Tidewater Mortgage Services’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Tidewater Mortgage Services was most active in:

  1. Virginia Beach, VA
  2. Lancaster, PA
  3. Erie, PA
  4. Elizabeth City, NC
  5. Richmond, VA

Tidewater Mortgage Services’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, Tidewater Mortgage Services originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo 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.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.01%+0.01%+0.02%+0.00%+0.01%
Loan Related Closing Cost Difference+$96+$80-$4+$42+$423
Cost Adjusted Rate Difference+0.02%+0.02%+0.02%+0.00%+0.04%
National Star Rating(3.5)(3.5)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.03%-0.02%-0.00%-0.10%
Loan Related Closing Cost Difference-$275+$22-$2-$441
Cost Adjusted Rate Difference+0.01%-0.02%-0.00%-0.12%
Average Star Rating(3.5)(3.5)(3.5)(4)

As a summary, Tidewater Mortgage Services is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA purchase mortgages. For refinancing mortgages, Tidewater Mortgage Services is cheap for VA mortgage refinance. It is similar to other lenders for Conforming, FHA and Jumbo 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 Tidewater Mortgage Services:

Registered name: Tidewater Mortgage Services Inc
Registered city and state: VIRGINIA BEACH, VA, 23452
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 Tidewater Mortgage Services’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.