Guilford Savings Bank The Mortgage Rates, Fees & Info
Guilford, CTLEI: 5493006RLUL4IL56SC31
Tax ID: 06-0377390
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Mortgage Data
Review & Overview
Guilford Savings Bank The is a smaller bank specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Guilford Savings Bank The has a high proportion of conventional loans. Guilford Savings Bank The has a low ratio of conventional loans. Their top markets by origination volume include: Boston, Providence, and Barnstable Town among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Guilford Savings Bank The has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Guilford Savings Bank The 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.85% | 4/16/25 |
| 30 Year Conventional Refi | 6.70% | 4/16/25 |
| 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. | ||
Guilford Savings Bank The Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
305Origination Dollar Volume (All Markets)
$75,875,000Relative Rate
Guilford Savings Bank The's average 30 year fixed mortgage rate was
6.35%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.2%.
Relative Fees (Closing Costs)
Guilford Savings Bank The's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,687.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 301 | $73,515,000 | $244,236 | $6,506 | 7.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $4,351 | 6.19% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $4,429 | 6.13% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,798 | 6.25% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 300 | $72,990,000 | $243,300 | $0 | 0.00% |
| Conventional | 5 | $2,885,000 | $577,000 | $4,687 | 6.35% |
For 2024, Guilford Savings Bank The's most frequently originated type of loan was Conventional, with 300 originations. Their 2nd most popular type was Conventional, with 5 originations.
Loan Reason
For 2024, Guilford Savings Bank The's most frequently cited loan purpose was Home Improvement, with 100 originations. The 2nd most popular reason was Cash Out Refi, with 88 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 300 | $72,990,000 | $243,300 | $0 | 0.00% |
| 30 Year | 5 | $2,885,000 | $577,000 | $4,687 | 6.35% |
For 2024, Guilford Savings Bank The's most frequently cited loan duration was Other, with 300 originations. The 2nd most popular length was 30 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 5 | $2,885,000 | $577,000 |
Guilford Savings Bank The's average total fees were $4,687, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 5 | $2,885,000 | $577,000 |
During 2024, Guilford Savings Bank The's average interest rate for loans was 6.35%, while their most frequently originated rate bucket for loans was 6-7%, with 5 originations.
Loan Sizing
2024 saw Guilford Savings Bank The place emphasis on $100k-200k loans with 93 originations, totaling $13,175,000 in origination value.
Applicant Income
Guilford Savings Bank The lent most frequently to those with incomes in the $150k-250k range, with 91 originations. The second most popular income band? $250k+, with 82 originations.
Applicant Debt to Income Ratio
Guilford Savings Bank The lent most frequently to those with DTI ratios of Exempt%, with 300 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.24%
Guilford Savings Bank The has an average approval rate.
Pick Rate
Approvals leading to origination80.00%
Guilford Savings Bank The has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 300 | $72,990,000 | $243,300 |
| NA | 5 | $2,885,000 | $577,000 |