Sikorsky Financial Mortgage Rates, Fees & Info

Stratford, CT

LEI: 5493006Z74IVZXJ0XO35

Tax ID: 06-0634736

5 stars - Updated: 11/17/24 - out of 5 stars, based on 33 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Sikorsky Financial is a smaller mortgage company specializing in Other and Home Purchase loans. Sikorsky Financial has a high proportion of conventional loans. Their top markets by origination volume include: Bridgeport, New Haven, Hartford, Torrington, and Norwich among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sikorsky Financial has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Sikorsky Financial is typically an average 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 relatively high 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
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 6.14% 11/17/24
    30 Year Conventional Refi 6.35% 11/17/24
    30 Year Cash-out Refi 6.39% 11/17/24
    15 Year Conventional Purchase 5.59% 11/17/24
    15 Year Conventional Refi 5.77% 11/17/24
    15 Year Cash-out Refi 5.77% 11/17/24
    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.

    Sikorsky Financial Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Sikorsky Financial. 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

    1,083

    Origination Dollar Volume (All Markets)

    $167,355,000
    Show all (7) awards

    Relative Rate

    Sikorsky Financial's average 30 year fixed mortgage rate was 5.44%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -1.04%.

    Relative Fees (Closing Costs)

    Sikorsky Financial's average total fees/closing costs for a 30 year fixed rate mortgage were $4,718.

    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 $9,089.

    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
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 571 $94,835,000 $166,086 $1,265 6.67%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 448 $61,960,000 $138,304 $1,255 6.51%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 40 $8,180,000 $204,500 $2,033 6.34%
    Torrington, CT (FHA|USDA|VA) 22 $2,260,000 $102,727 $1,003 6.39%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $120,000 $60,000 $0 6.25%
    Sikorsky Financial's top markets include Bridgeport, New Haven, Hartford, Torrington, and Norwich among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SIKORSKY FINANCIAL 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
    Chelsea Groton Bank
    Similarity Rank: 56
    Stafford Savings Bank
    Similarity Rank: 63
    The Torrington Savings Bank
    Similarity Rank: 85
    The Milford Bank
    Similarity Rank: 132
    Ridgewood Savings Bank
    Similarity Rank: 160
    Northwest Community Bank
    Similarity Rank: 165
    SIKORSKY FINANCIAL
    Similarity Rank: 180
    Sanborn Mortgage Corporation
    Similarity Rank: 208
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 216

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 798 $134,030,000 $167,957 $1,283 5.96%
    HELOC 285 $33,325,000 $116,930 n/a 8.34%

    For 2023, Sikorsky Financial's most frequently originated type of loan was Conventional, with 798 originations. Their 2nd most popular type was HELOC, with 285 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 592 $50,930,000 $86,030 $78 6.93%
    Cash Out Refi 220 $30,400,000 $138,182 $450 6.76%
    Home Purchase 176 $71,180,000 $404,432 $4,902 5.53%
    Home Improvement 55 $5,835,000 $106,091 $216 6.73%
    Refi 40 $9,010,000 $225,250 $1,448 4.92%

    For 2023, Sikorsky Financial's most frequently cited loan purpose was Other, with 592 originations. The 2nd most popular reason was Cash Out Refi, with 220 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 462 $51,500,000 $111,472 $108 7.74%
    30 Year 196 $77,980,000 $397,857 $4,718 5.44%
    10 Year 180 $11,880,000 $66,000 $38 5.85%
    15 Year 159 $18,535,000 $116,572 $244 6.26%
    5 Year 55 $2,455,000 $44,636 $0 5.43%
    Other 31 $5,005,000 $161,452 $936 4.58%

    For 2023, Sikorsky Financial's most frequently cited loan duration was 20 Year, with 462 originations. The 2nd most popular length was 30 Year, with 196 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 765 $120,315,000 $157,275
    $1k-2k 12 $3,780,000 $315,000
    $2k-3k 8 $2,440,000 $305,000
    $5k+ 5 $2,825,000 $565,000
    $4k-5k 2 $890,000 $445,000
    $3k-4k 1 $365,000 $365,000

    Sikorsky Financial's average total fees were $4,718, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 765 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 312 $50,510,000 $161,891
    Over 8% 217 $24,205,000 $111,544
    6-7% 203 $28,405,000 $139,926
    7-8% 170 $19,010,000 $111,824
    4-5% 169 $43,305,000 $256,243
    3-4% 12 $1,920,000 $160,000

    During 2023, Sikorsky Financial's average interest rate for loans was 5.44%, while their most frequently originated rate bucket for loans was 5-6%, with 312 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 552 $30,440,000 $55,145 $127 6.67%
    $100k-200k 260 $35,410,000 $136,192 $760 6.99%
    $200k-400k 190 $50,120,000 $263,789 $2,893 6.27%
    $400k-600k 48 $23,160,000 $482,500 $5,184 5.46%
    $600k-1MM 26 $19,350,000 $744,231 $5,678 5.31%
    $1MM+ 7 $8,875,000 $1,267,857 $9,860 5.47%

    2023 saw Sikorsky Financial place emphasis on $100,000 or less loans with 552 originations, totaling $30,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 330 $42,100,000 $127,576 $1,054 6.45%
    $150k-250k 291 $52,235,000 $179,502 $1,508 6.76%
    $75k-100k 168 $17,620,000 $104,881 $894 6.59%
    $250k+ 130 $38,330,000 $294,846 $2,413 6.50%
    $50k-75k 120 $10,590,000 $88,250 $857 6.57%
    $50k or less 36 $2,930,000 $81,389 $831 6.67%

    Sikorsky Financial lent most frequently to those with incomes in the $100k-150k range, with 330 originations. The second most popular income band? $150k-250k, with 291 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 217 $33,725,000 $155,415 $1,278 6.39%
    20-30% 208 $31,870,000 $153,221 $1,222 6.35%
    <20% 82 $10,160,000 $123,902 $1,244 6.21%
    44% 64 $9,200,000 $143,750 $1,142 6.99%
    39% 53 $7,095,000 $133,868 $943 6.89%
    42% 48 $6,790,000 $141,458 $1,016 6.83%
    43% 45 $9,555,000 $212,333 $2,067 6.93%
    38% 43 $7,865,000 $182,907 $1,759 6.81%
    47% 41 $7,445,000 $181,585 $1,692 6.56%
    49% 38 $4,760,000 $125,263 $662 6.61%
    40% 36 $5,620,000 $156,111 $1,460 6.61%
    45% 35 $5,735,000 $163,857 $1,732 6.73%
    37% 35 $4,645,000 $132,714 $1,212 7.28%
    46% 34 $5,330,000 $156,765 $1,259 7.02%
    36% 34 $4,580,000 $134,706 $1,291 6.37%
    41% 32 $4,180,000 $130,625 $1,163 6.45%
    48% 29 $4,785,000 $165,000 $1,154 6.66%
    50-60% 2 $270,000 $135,000 $550 7.38%

    Sikorsky Financial lent most frequently to those with DTI ratios of 30-36%, with 217 originations. The next most common DTI ratio? 20-30%, with 208 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 904 $131,370,000 $145,321 $1,154 6.57%
    Not provided 70 $12,410,000 $177,286 $1,730 6.56%
    Asian 40 $10,710,000 $267,750 $2,711 6.48%
    Black 52 $6,460,000 $124,231 $1,256 6.81%
    Not applicable 4 $3,080,000 $770,000 $0 6.38%
    Asian Indian 3 $1,995,000 $665,000 $5,561 5.11%
    American Indian 5 $465,000 $93,000 $2,391 7.07%
    Other Asian 2 $380,000 $190,000 $3,727 7.69%
    Filipino 1 $225,000 $225,000 $0 8.50%
    Chinese 1 $205,000 $205,000 $0 5.25%
    Other Pacific Islander 1 $55,000 $55,000 $0 9.50%

    Approval Rates

    Total approvals of all applications
    82.76%

    Sikorsky Financial has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.41%

    Sikorsky Financial has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,083 $167,355,000 $154,529

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,083 $167,355,000 $154,529

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 266 $34,680,000 $130,376 $373 7.07%
    40-60% 94 $23,480,000 $249,787 $2,369 6.30%
    60-80% 93 $36,335,000 $390,699 $4,345 5.87%
    80-100% 89 $38,755,000 $435,449 $4,906 5.54%
    Under 20% 541 $34,105,000 $63,041 $86 6.69%