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 Other, Cash Out Refi, 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 7 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% 11/21/24
    30 Year Conventional Purchase 6.14% 11/21/24
    30 Year Conventional Refi 6.35% 11/21/24
    30 Year Cash-out Refi 6.39% 11/21/24
    15 Year Conventional Purchase 5.59% 11/21/24
    15 Year Conventional Refi 5.77% 11/21/24
    15 Year Cash-out Refi 5.77% 11/21/24
    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

    1,231

    Origination Dollar Volume (All Markets)

    $178,695,000
    Show all (7) 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) 565 $86,625,000 $153,319 $1,252 4.24%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 577 $76,465,000 $132,522 $1,250 4.30%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 53 $9,775,000 $184,434 $1,590 4.15%
    Torrington, CT (FHA|USDA|VA) 27 $4,525,000 $167,593 $1,802 4.28%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 6 $1,050,000 $175,000 $1,900 4.50%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $180,000 $90,000 $550 5.25%
    Outside of Metro Areas 1 $75,000 $75,000 $0 5.50%
    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: 49
    Freedom Credit Union
    Similarity Rank: 102
    Chelsea Groton Bank
    Similarity Rank: 133
    Ridgewood Savings Bank
    Similarity Rank: 146
    POLISH NATIONAL
    Similarity Rank: 200
    The Torrington Savings Bank
    Similarity Rank: 235
    The Milford Bank
    Similarity Rank: 340
    SIKORSKY FINANCIAL
    Similarity Rank: 392
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 420
    Thomaston Savings Bank
    Similarity Rank: 445

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 792 $131,030,000 $165,442 $1,285 4.09%
    HELOC 439 $47,665,000 $108,576 n/a 4.58%

    For 2022, Sikorsky Financial's most frequently originated type of loan was Conventional, with 792 originations. Their 2nd most popular type was HELOC, with 439 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 660 $57,990,000 $87,864 $150 4.61%
    Cash Out Refi 227 $41,525,000 $182,930 $1,327 3.90%
    Home Purchase 141 $47,815,000 $339,113 $3,914 4.21%
    Refi 139 $25,685,000 $184,784 $1,568 3.18%
    Home Improvement 64 $5,680,000 $88,750 $312 4.56%

    For 2022, Sikorsky Financial's most frequently cited loan purpose was Other, with 660 originations. The 2nd most popular reason was Cash Out Refi, with 227 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 544 $57,810,000 $106,268 $194 4.71%
    30 Year 213 $69,485,000 $326,221 $3,632 3.93%
    15 Year 171 $18,585,000 $108,684 $445 4.47%
    10 Year 141 $8,045,000 $57,057 $59 4.17%
    Other 124 $23,280,000 $187,742 $1,074 2.76%
    5 Year 38 $1,490,000 $39,211 $71 4.09%

    For 2022, Sikorsky Financial's most frequently cited loan duration was 20 Year, with 544 originations. The 2nd most popular length was 30 Year, with 213 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 770 $123,850,000 $160,844
    $1k-2k 13 $3,825,000 $294,231
    $3k-4k 3 $575,000 $191,667
    $2k-3k 2 $1,120,000 $560,000

    Sikorsky Financial's average total fees were $3,632, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 770 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 477 $67,115,000 $140,702
    4-5% 360 $55,520,000 $154,222
    5-6% 152 $15,730,000 $103,487
    6-7% 86 $8,280,000 $96,279
    <2.5% 66 $12,320,000 $186,667
    2.5-3% 65 $17,215,000 $264,846
    7-8% 21 $2,055,000 $97,857
    Over 8% 4 $460,000 $115,000

    During 2022, Sikorsky Financial's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was 3-4%, with 477 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 589 $32,165,000 $54,610 $165 4.52%
    $100k-200k 334 $46,190,000 $138,293 $1,321 4.24%
    $200k-400k 247 $67,585,000 $273,623 $2,571 3.79%
    $400k-600k 46 $21,810,000 $474,130 $4,030 3.91%
    $600k-1MM 14 $9,840,000 $702,857 $4,788 3.99%
    $1MM+ 1 $1,105,000 $1,105,000 $7,279 4.50%

    2022 saw Sikorsky Financial place emphasis on $100,000 or less loans with 589 originations, totaling $32,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 390 $54,450,000 $139,615 $1,128 4.24%
    $150k-250k 342 $57,140,000 $167,076 $1,405 4.29%
    $75k-100k 217 $25,735,000 $118,594 $1,243 4.22%
    $50k-75k 135 $12,505,000 $92,630 $1,106 4.31%
    $250k+ 100 $23,610,000 $236,100 $1,972 4.33%
    $50k or less 38 $3,230,000 $85,000 $1,358 4.09%

    Sikorsky Financial lent most frequently to those with incomes in the $100k-150k range, with 390 originations. The second most popular income band? $150k-250k, with 342 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 335 $48,785,000 $145,627 $1,454 4.06%
    30-36% 233 $34,305,000 $147,232 $1,446 4.25%
    <20% 106 $14,850,000 $140,094 $1,573 3.94%
    39% 66 $10,240,000 $155,152 $1,325 4.73%
    38% 54 $7,650,000 $141,667 $1,173 4.65%
    41% 50 $7,190,000 $143,800 $1,109 4.29%
    40% 49 $5,915,000 $120,714 $683 4.34%
    43% 48 $7,170,000 $149,375 $1,192 4.68%
    37% 46 $6,380,000 $138,696 $894 4.33%
    44% 45 $5,465,000 $121,444 $950 4.47%
    42% 39 $4,505,000 $115,513 $961 4.19%
    46% 30 $4,880,000 $162,667 $1,175 4.35%
    36% 30 $3,730,000 $124,333 $368 4.67%
    47% 27 $4,175,000 $154,630 $945 4.67%
    45% 27 $4,725,000 $175,000 $1,633 4.37%
    48% 20 $4,400,000 $220,000 $1,838 4.00%
    49% 19 $2,515,000 $132,368 $696 4.04%
    50-60% 3 $155,000 $51,667 $56 4.42%

    Sikorsky Financial lent most frequently to those with DTI ratios of 20-30%, with 335 originations. The next most common DTI ratio? 30-36%, with 233 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,001 $139,655,000 $139,515 $1,207 4.28%
    Not provided 122 $20,790,000 $170,410 $1,599 4.26%
    Asian 43 $9,255,000 $215,233 $2,103 3.71%
    Black 52 $6,330,000 $121,731 $1,352 4.50%
    Not applicable 4 $1,660,000 $415,000 $0 5.31%
    American Indian 4 $570,000 $142,500 $1,075 3.75%
    Native Hawaiian or Islander 3 $225,000 $75,000 $475 3.83%
    Other Asian 1 $155,000 $155,000 $1,085 2.25%
    Other Pacific Islander 1 $55,000 $55,000 $0 3.75%

    Approval Rates

    Total approvals of all applications
    79.69%

    Sikorsky Financial has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.73%

    Sikorsky Financial has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,231 $178,695,000 $145,162

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,231 $178,695,000 $145,162

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 306 $39,950,000 $130,556 $613 4.48%
    40-60% 154 $34,310,000 $222,792 $1,988 3.54%
    60-80% 136 $42,460,000 $312,206 $2,870 3.63%
    80-100% 76 $28,410,000 $373,816 $3,932 4.12%
    Under 20% 559 $33,565,000 $60,045 $125 4.53%