Sikorsky Financial Mortgage Rates, Fees & Info

Stratford, CT

LEI: 5493006Z74IVZXJ0XO35

Tax ID: 06-0634736

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

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  • 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

    Sikorsky Financial is a smaller mortgage company specializing in Cash Out Refi and Refi 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 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
    Home Equity Line of Credit (HELOC) 6.27% 4/18/24
    30 Year Conventional Purchase 6.14% 4/18/24
    30 Year Conventional Refi 6.35% 4/18/24
    30 Year Cash-out Refi 6.39% 4/18/24
    15 Year Conventional Purchase 5.59% 4/18/24
    15 Year Conventional Refi 5.77% 4/18/24
    15 Year Cash-out Refi 5.77% 4/18/24
    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

    1,026

    Origination Dollar Volume (All Markets)

    $198,400,000

    Awards

    SIKORSKY FINANCIAL 30 Year Conventional Loans gold SIKORSKY FINANCIAL 30 Year Conventional Loans silver SIKORSKY FINANCIAL 30 Year Conventional Loans gold
    Show all (3) 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
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 475 $100,105,000 $210,747 $1,837 3.17%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 474 $83,170,000 $175,464 $1,867 3.13%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 41 $8,455,000 $206,220 $2,228 3.02%
    Torrington, CT (FHA|USDA|VA) 33 $5,605,000 $169,848 $1,857 3.06%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 3 $1,065,000 $355,000 $1,766 2.66%
    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.

    Stafford Savings Bank
    Similarity Rank: 266
    Collinsville Bank
    Similarity Rank: 490
    U S WIDE FINANCIAL LLC
    Similarity Rank: 608
    SILVERMINE VENTURES LLC
    Similarity Rank: 750
    Ridgewood Savings Bank
    Similarity Rank: 756
    Chelsea Groton Bank
    Similarity Rank: 760
    Charter Oak Federal Credit Union
    Similarity Rank: 924
    Northwest Community Bank
    Similarity Rank: 945
    SIKORSKY FINANCIAL
    Similarity Rank: 1005
    POLISH NATIONAL
    Similarity Rank: 1017

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 820 $179,880,000 $219,366 $1,868 3.04%
    HELOC 206 $18,520,000 $89,903 n/a 3.55%

    For 2020, Sikorsky Financial's most frequently originated type of loan was Conventional, with 820 originations. Their 2nd most popular type was HELOC, with 206 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 435 $59,405,000 $136,563 $1,154 3.45%
    Refi 422 $100,410,000 $237,938 $1,977 2.81%
    Home Purchase 114 $32,210,000 $282,544 $3,450 3.15%
    Home Improvement 31 $4,665,000 $150,484 $807 3.05%
    Other 24 $1,710,000 $71,250 $170 3.52%

    For 2020, Sikorsky Financial's most frequently cited loan purpose was Cash Out Refi, with 435 originations. The 2nd most popular reason was Refi, with 422 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 304 $56,720,000 $186,579 $997 2.60%
    30 Year 284 $85,690,000 $301,725 $2,996 3.17%
    20 Year 228 $24,280,000 $106,491 $2,764 3.49%
    15 Year 139 $28,395,000 $204,281 $2,167 3.17%
    10 Year 47 $2,405,000 $51,170 $186 4.44%
    5 Year 24 $910,000 $37,917 $186 3.61%

    For 2020, Sikorsky Financial's most frequently cited loan duration was Other, with 304 originations. The 2nd most popular length was 30 Year, with 284 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 794 $172,330,000 $217,040
    $1k-2k 14 $3,830,000 $273,571
    $3k-4k 5 $1,265,000 $253,000
    $2k-3k 3 $1,135,000 $378,333
    $4k-5k 3 $1,095,000 $365,000
    $5k+ 1 $225,000 $225,000

    Sikorsky Financial's average total fees were $2,996, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 794 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 406 $72,110,000 $177,611
    2.5-3% 341 $84,915,000 $249,018
    <2.5% 177 $33,245,000 $187,825
    4-5% 86 $7,090,000 $82,442
    5-6% 9 $645,000 $71,667
    6-7% 7 $395,000 $56,429

    During 2020, Sikorsky Financial's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 3-4%, with 406 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 379 $103,265,000 $272,467 $2,389 2.95%
    $100k-200k 320 $47,120,000 $147,250 $1,518 2.96%
    $100,000 or less 261 $13,555,000 $51,935 $463 3.66%
    $400k-600k 55 $26,035,000 $473,364 $3,197 3.04%
    $600k-1MM 10 $7,340,000 $734,000 $3,691 3.06%
    $1MM+ 1 $1,085,000 $1,085,000 $3,733 3.00%

    2020 saw Sikorsky Financial place emphasis on $200k-400k loans with 379 originations, totaling $103,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 322 $59,220,000 $183,913 $1,792 3.14%
    $150k-250k 301 $68,595,000 $227,890 $1,989 3.06%
    $75k-100k 163 $25,405,000 $155,859 $1,816 3.24%
    $50k-75k 130 $18,170,000 $139,769 $1,881 3.23%
    $250k+ 68 $23,230,000 $341,618 $2,073 2.95%
    $50k or less 38 $3,350,000 $88,158 $1,314 3.31%

    Sikorsky Financial lent most frequently to those with incomes in the $100k-150k range, with 322 originations. The second most popular income band? $150k-250k, with 301 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 339 $65,275,000 $192,552 $1,860 3.05%
    30-36% 198 $40,030,000 $202,172 $1,801 3.16%
    <20% 175 $32,435,000 $185,343 $1,736 3.05%
    41% 40 $6,900,000 $172,500 $1,558 3.63%
    38% 35 $6,635,000 $189,571 $2,187 3.43%
    39% 33 $6,225,000 $188,636 $1,745 3.48%
    36% 32 $5,840,000 $182,500 $1,521 3.18%
    40% 32 $7,130,000 $222,813 $1,876 3.19%
    42% 26 $4,570,000 $175,769 $1,883 3.30%
    44% 22 $4,650,000 $211,364 $2,706 2.88%
    43% 19 $2,935,000 $154,474 $1,657 3.23%
    45% 19 $3,835,000 $201,842 $2,277 3.28%
    37% 16 $3,030,000 $189,375 $2,157 3.13%
    47% 13 $2,265,000 $174,231 $1,877 3.14%
    46% 10 $1,740,000 $174,000 $2,399 3.01%
    48% 7 $1,565,000 $223,571 $2,803 3.11%
    49% 5 $2,245,000 $449,000 $3,315 2.99%
    50-60% 5 $1,095,000 $219,000 $2,352 2.87%

    Sikorsky Financial lent most frequently to those with DTI ratios of 20-30%, with 339 originations. The next most common DTI ratio? 30-36%, with 198 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 835 $156,755,000 $187,731 $1,865 3.17%
    Not provided 126 $29,060,000 $230,635 $1,863 3.02%
    Asian 21 $4,915,000 $234,048 $1,874 2.92%
    Black 26 $4,530,000 $174,231 $2,268 3.09%
    Asian Indian 6 $1,210,000 $201,667 $1,292 2.68%
    American Indian 3 $565,000 $188,333 $1,836 2.81%
    Not applicable 3 $555,000 $185,000 $2,706 3.08%
    Other Asian 4 $500,000 $125,000 $792 3.20%
    Native Hawaiian or Islander 2 $310,000 $155,000 $536 3.33%

    Approval Rates

    Total approvals of all applications
    78.09%

    Sikorsky Financial has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    65.89%

    Sikorsky Financial has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,026 $198,400,000 $193,372

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,026 $198,400,000 $193,372

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 158 $18,270,000 $115,633 $883 3.28%
    40-60% 214 $43,000,000 $200,935 $1,599 2.89%
    60-80% 331 $88,885,000 $268,535 $2,246 2.90%
    80-100% 135 $39,695,000 $294,037 $3,034 3.13%
    Under 20% 188 $8,550,000 $45,479 $311 3.74%