Tidewater Home Funding Mortgage Interest Rate and Cost Review

Is Tidewater Home Funding a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Tidewater Home Funding with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.00%)
Loan Related Closing Costslower than average (-$388)
National Rate and Closing Cost Rating(3.5)
Websitehttps://www.tidewaterhomefunding.com

On average, Tidewater Home Funding’s interest rates were similar to those of other lenders (-0.00%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$388. Overall, combining interest rates and closing costs we estimate that Tidewater Home Funding tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

Tidewater Home Funding’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Tidewater Home Funding was most active in:

  1. Virginia Beach, VA
  2. Richmond, VA
  3. Elizabeth City, NC
  4. Staunton, VA
  5. South Boston, VA

You can click through to check out Tidewater Home Funding’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Tidewater Home Funding’s Rates 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 Home Funding originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.03%-0.07%-0.01%-0.02%-0.01%
Loan Related Closing Cost Difference-$484-$572+$98-$149-$182
Cost Adjusted Rate Difference+0.00%-0.12%-0.01%-0.03%-0.02%
Star Rating(3.5)(4.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.06%-0.01%-0.00%-0.03%
Loan Related Closing Cost Difference-$176+$28+$98-$321
Cost Adjusted Rate Difference+0.04%-0.00%+0.00%-0.05%
Star Rating(3.5)(3.5)(3.5)(4.0)

As a summary, Tidewater Home Funding is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming, Jumbo, USDA and VA purchase mortgages. For refinancing mortgages, Tidewater Home Funding is cheap for VA mortgage refinance. It is similar to other lenders for Conforming, FHA and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Tidewater Home Funding:

Registered name: Tidewater Home Funding
Registered city and state: Chesapeake, VA, 23320
Regulator: United States Department of Housing and Urban Development (HUD)
Top holder: FARMERS BANKSHARES, INC.

* 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 Home Funding’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.