# Towne Bank

> **Canonical URL:** https://saferate.com/lenders/towne-bank


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Towne Bank is a bank, headquartered in Portsmouth, VA, serving borrowers across 19 states, with 3,585 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 63% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 20% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 54930039UO39UJGI7078
- **Headquarters:** Portsmouth, VA
- **Geographic Reach:** Multi-Region
- **States Served:** 19
- **State List:** AL, CO, DC, DE, FL, GA, IL, KY, LA, MD, MS, NC, OH, PA, SC, TN, TX, VA, WV
- **Markets (MSAs):** 24
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 96.2%
- **Brokered/Wholesale:** 3.8%

## Safe Rate Ratings

### Pricing: Acceptable 🙂
- Score: 37/100
- Rating: ●●○○○ (2/5)

### Pull Through: Exceptional 🤩
- Score: 80/100
- Rating: ●●●●● (5/5)

### Pricing Details
- **Average Rate Spread:** +0.199%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $3,024
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 3,585
- **Dollar Volume:** $1.5 billion
- **Applications Received:** 4,619
- **Market Share:** 10.00%

## Typical Borrower Profile

- **Average Loan Amount:** $405,139
- **Average Borrower Income:** $162,268
- **Average Property Value:** $511,828

## Safe Rate Awards 🏆

- ⭐ **FHA Gold Superstar** (76%)
- ⭐ **VA Gold Superstar** (76%)
- ⭐ **Jumbo Gold Superstar** (62%)
- ⭐ **Purchase Gold Superstar** (62%)
- ⭐ **Refinance Gold Superstar** (63%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 79/100 | 2,207 | +0.249% | $3,137 | Strong 😀 |
| FHA | 80/100 | 730 | +0.352% | $2,758 | Exceptional 🤩 |
| VA | 82/100 | 515 | -0.342% | $2,774 | Exceptional 🤩 |
| Jumbo | 80/100 | 90 | +0.396% | $3,332 | Exceptional 🤩 |
| USDA | 82/100 | 43 | +0.001% | $3,307 | Exceptional 🤩 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 2,005 loans, Score: 79/100 (Strong)
- Refinance: 202 loans, Score: 72/100 (Strong)

**FHA:**
- Purchase: 698 loans, Score: 81/100 (Exceptional)
- Refinance: 32 loans, Score: 72/100 (Strong)

**VA:**
- Purchase: 494 loans, Score: 82/100 (Exceptional)
- Refinance: 21 loans, Score: 49/100 (Sound)

**Jumbo:**
- Purchase: 80 loans, Score: 80/100 (Exceptional)

**USDA:**
- Purchase: 43 loans, Score: 82/100 (Exceptional)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 80/100 | 3,320 | $1.3B | +0.206% | Exceptional 🤩 |
| Refinance | 72/100 | 265 | $106M | +0.130% | Strong 😀 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| MD | 1,434 | 2.03% | 91/100 |
| NC | 904 | 0.61% | 80/100 |
| VA | 872 | 0.81% | 86/100 |
| SC | 95 | 0.12% | 61/100 |
| FL | 50 | 0.02% | 46/100 |
| LA | 48 | 0.14% | 53/100 |
| PA | 47 | 0.04% | 50/100 |
| DC | 33 | 0.58% | 57/100 |
| DE | 17 | 0.12% | 45/100 |
| GA | 17 | 0.01% | 40/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Baltimore | MD | 642 | 88/100 |
| Virginia Beach | VA-NC | 450 | 85/100 |
| Frederick | MD | 336 | 93/100 |
| Non |  | 329 | 64/100 |
| Washington, DC | DC-MD | 304 | 87/100 |
| Richmond, VA | VA | 249 | 82/100 |
| Raleigh | NC | 208 | 77/100 |
| Charlotte | NC-SC | 175 | 72/100 |
| Arlington | VA-WV | 160 | 70/100 |
| Wilmington, NC | NC | 124 | 79/100 |
| Lexington Park, MD | MD | 108 | 76/100 |
| Greenville, NC | NC | 76 | 83/100 |
| Hagerstown | MD-WV | 47 | 64/100 |
| Charleston | SC | 40 | 58/100 |
| Durham | NC | 31 | 56/100 |

## Where This Lender Ranks

Towne Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in Virginia for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/virginia/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Virginia Beach for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/virginia-beach/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Frederick for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/frederick/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Washington, DC for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/washington-dc/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Washington, DC for USDA Loans
  - [View Full Rankings](https://saferate.com/washington-dc/best-mortgage-lenders/usda-loans)
- 🥇 **#1** in Richmond, VA for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/richmond-va/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Raleigh for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/raleigh/best-mortgage-lenders/banks/usda-loans)
- 🥇 **#1** in Wilmington, NC for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/wilmington-nc/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Lexington Park, MD for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/lexington-park-md/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Lexington Park, MD for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/lexington-park-md/best-mortgage-lenders/banks/va-loans)
- 🥇 **#1** in Lexington Park, MD for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/lexington-park-md/best-mortgage-lenders/banks/usda-loans)
- 🥇 **#1** in Greenville, NC for FHA Loans
  - [View Full Rankings](https://saferate.com/greenville-nc/best-mortgage-lenders/fha-loans)
- 🥇 **#1** in Greenville, NC for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/greenville-nc/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Greenville, NC for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/greenville-nc/best-mortgage-lenders/banks/va-loans)
- 🥇 **#1** in Hagerstown for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/hagerstown/best-mortgage-lenders/banks/fha-loans)
- 🥈 **#2** in Maryland for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/maryland/best-mortgage-lenders/banks/fha-loans)
- 🥈 **#2** in Maryland for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/maryland/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Maryland for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/maryland/best-mortgage-lenders/banks/usda-loans)
- 🥈 **#2** in Baltimore for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/baltimore/best-mortgage-lenders/banks/fha-loans)
- 🥈 **#2** in Baltimore for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/baltimore/best-mortgage-lenders/banks/va-loans)

## Frequently Asked Questions

### What loan types does Towne Bank offer?

Towne Bank offers the following mortgage loan types: FHA, Conventional, VA, Jumbo, USDA. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Towne Bank offer mortgages?

Towne Bank offers mortgages in 19 states: AL, CO, DC, DE, FL, GA, IL, KY, LA, MD, MS, NC, OH, PA, SC, TN, TX, VA, WV.

### How competitive are Towne Bank's mortgage rates?

Towne Bank has a pricing score of 37/100 (Acceptable), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.199% above market average.

### What type of lender is Towne Bank?

Towne Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Portsmouth, VA.

### What is Towne Bank's loan approval success rate?

Towne Bank has a pull-through score of 80/100 (Exceptional). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/towne-bank

### How to Cite

> "Towne Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/towne-bank

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