Stafford Savings Bank Mortgage Rates, Fees & Info

Stafford Springs, CT

LEI: 254900QHRM7S805P5E69

Tax ID: 06-0546360

Latest/2024 | 2023 Data | 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

    Stafford Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Stafford Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Hartford.

    Stafford Savings Bank 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. Stafford Savings Bank is typically a low 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.72% 6/2/25
    30 Year Conventional Refi 6.72% 6/2/25
    15 Year Conventional Purchase 6.00% 6/2/25
    15 Year Conventional Refi 6.00% 6/2/25
    15 Year Cash-out Refi 6.00% 6/2/25
    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.

    Stafford Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Stafford Savings Bank. 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

    35

    Origination Dollar Volume (All Markets)

    $4,435,000

    Awards

    Stafford Savings Bank 30 Year Conventional Loans silver
    Show all (1) 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
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 35 $4,435,000 $126,714 $1,762 6.22%
    Stafford Savings Bank's top markets include and Hartford among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)

    • Similar Lenders

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

    Charter Oak Federal Credit Union
    Similarity Rank: 32
    The Torrington Savings Bank
    Similarity Rank: 45
    Chelsea Groton Bank
    Similarity Rank: 56
    Stafford Savings Bank
    Similarity Rank: 63
    SIKORSKY FINANCIAL
    Similarity Rank: 105
    Thomaston Savings Bank
    Similarity Rank: 144
    Northwest Community Bank
    Similarity Rank: 165
    Sanborn Mortgage Corporation
    Similarity Rank: 208
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 216
    Union Savings Bank
    Similarity Rank: 224

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 35 $4,435,000 $126,714 $1,762 6.22%

    For 2023, Stafford Savings Bank's most frequently originated type of loan was Conventional, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 13 $2,805,000 $215,769 $3,806 6.58%
    Refi 11 $1,205,000 $109,545 $908 6.19%
    Home Improvement 7 $235,000 $33,571 $200 5.64%
    Other 4 $190,000 $47,500 $200 6.13%

    For 2023, Stafford Savings Bank's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 13 $2,995,000 $230,385 $3,833 6.74%
    10 Year 9 $345,000 $38,333 $200 5.89%
    15 Year 6 $470,000 $78,333 $628 6.04%
    5 Year 5 $265,000 $53,000 $583 5.58%
    Other 2 $360,000 $180,000 $1,677 6.44%

    For 2023, Stafford Savings Bank's most frequently cited loan duration was 30 Year, with 13 originations. The 2nd most popular length was 10 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 35 $4,435,000 $126,714

    Stafford Savings Bank's average total fees were $3,833, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 35 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 19 $3,325,000 $175,000
    5-6% 15 $1,085,000 $72,333
    4-5% 1 $25,000 $25,000

    During 2023, Stafford Savings Bank's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was 6-7%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $890,000 $44,500 $371 5.97%
    $200k-400k 8 $2,250,000 $281,250 $3,934 6.42%
    $100k-200k 6 $880,000 $146,667 $2,788 6.65%
    $400k-600k 1 $415,000 $415,000 $6,042 7.00%

    2023 saw Stafford Savings Bank place emphasis on $100,000 or less loans with 20 originations, totaling $890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $2,375,000 $158,333 $2,278 6.02%
    $75k-100k 8 $630,000 $78,750 $1,237 6.25%
    $50k or less 5 $195,000 $39,000 $415 6.40%
    $50k-75k 4 $480,000 $120,000 $1,824 6.50%
    $150k-250k 3 $755,000 $251,667 $2,737 6.46%

    Stafford Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $75k-100k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 11 $725,000 $65,909 $678 5.82%
    30-36% 9 $1,645,000 $182,778 $2,597 6.53%
    40% 5 $985,000 $197,000 $3,215 6.50%
    42% 2 $80,000 $40,000 $200 6.25%
    <20% 2 $350,000 $175,000 $1,663 6.63%
    37% 2 $140,000 $70,000 $1,158 5.69%
    45% 1 $45,000 $45,000 $200 6.25%
    36% 1 $275,000 $275,000 $5,141 6.25%
    39% 1 $155,000 $155,000 $3,170 7.00%
    41% 1 $35,000 $35,000 $200 5.75%

    Stafford Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $4,435,000 $126,714 $1,762 6.22%

    Approval Rates

    Total approvals of all applications
    92.68%

    Stafford Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.43%

    Stafford Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 35 $4,435,000 $126,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    35 $4,435,000 $126,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $700,000 $58,333 $617 6.09%
    40-60% 4 $510,000 $127,500 $1,880 6.19%
    60-80% 10 $2,390,000 $239,000 $3,398 6.59%
    80-100% 2 $620,000 $310,000 $5,679 6.56%
    Under 20% 7 $215,000 $30,714 $200 5.82%