William Raveis Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 5493009OLY1HC3F0SB77

Tax ID: 06-1297784

5 stars - out of 5 stars, based on 45 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

William Raveis Mortgage is a smaller mortgage company specializing in Home Purchase loans. William Raveis Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Boston, Bridgeport, Hartford, New York, and New Haven among others. William Raveis Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. William Raveis Mortgage is typically an average fee lendor.


Originations

2,056

Origination Dollar Volume (All Markets)

$725,860,000
Show all (5) awards

Relative Rate

William Raveis Mortgage 's average 30 year fixed rate mortgage of loans were 3%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.15%.

Relative Fees

William Raveis Mortgage 's average total fees for a 30 year fixed rate mortgage are $4,833.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 420 $187,370,000 $446,119 $4,088 2.98%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 361 $134,355,000 $372,175 $5,049 2.94%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 445 $123,175,000 $276,798 $4,504 2.93%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 165 $86,805,000 $526,091 $5,839 2.95%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 294 $80,120,000 $272,517 $4,794 2.97%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 83 $28,745,000 $346,325 $4,278 2.90%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 62 $16,610,000 $267,903 $4,571 2.94%
Torrington, CT (FHA|USDA|VA) 65 $15,255,000 $234,692 $4,893 2.84%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 34 $10,740,000 $315,882 $4,329 3.07%
WORCESTER, MA-CT (FHA|USDA|VA) 30 $10,070,000 $335,667 $4,087 2.96%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 16 $6,220,000 $388,750 $6,181 2.98%
SPRINGFIELD, MA (FHA|USDA|VA) 18 $4,730,000 $262,778 $4,920 2.97%
Outside of Metro Areas 8 $4,110,000 $513,750 $7,562 3.09%
Lebanon, NH-VT (FHA|USDA|VA) 9 $2,895,000 $321,667 $4,964 3.26%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $2,550,000 $318,750 $4,612 3.03%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 7 $2,205,000 $315,000 $4,586 2.96%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,705,000 $568,333 $6,409 2.88%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $845,000 $281,667 $3,227 2.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $785,000 $261,667 $3,905 2.83%
Vineyard Haven, MA (FHA|USDA|VA) 1 $765,000 $765,000 $13,171 2.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $670,000 $335,000 $8,559 2.75%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $545,000 $545,000 $4,604 3.00%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $540,000 $270,000 $3,819 2.94%
KINGSTON, NY (FHA|USDA|VA) 1 $475,000 $475,000 $5,209 3.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $425,000 $425,000 $4,821 3.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $420,000 $210,000 $4,076 2.75%
Laconia, NH (FHA|USDA|VA) 1 $295,000 $295,000 $3,758 3.38%
Clewiston, FL (FHA|USDA|VA) 1 $295,000 $295,000 $5,365 2.50%
Hudson, NY (FHA|USDA|VA) 1 $275,000 $275,000 $4,457 2.63%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,153 2.88%
PITTSFIELD, MA (FHA|USDA|VA) 1 $265,000 $265,000 $2,950 3.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,496 3.25%
Concord, NH (FHA|USDA|VA) 1 $235,000 $235,000 $3,515 2.63%
Barre, VT (FHA|USDA|VA) 1 $235,000 $235,000 $8,163 2.75%
THE VILLAGES, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,018 3.38%
GAINESVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $6,301 2.25%
Bennington, VT (FHA|USDA|VA) 1 $145,000 $145,000 $3,041 3.50%
Berlin, NH (FHA|USDA|VA) 1 $145,000 $145,000 $3,311 3.00%

William Raveis Mortgage 's top markets include Boston, Bridgeport, Hartford, New York, and New Haven among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,920 $686,140,000 $357,365 $4,343 2.97%
FHA 136 $39,720,000 $292,059 $9,431 2.68%

For the 2021 period, William Raveis Mortgage 's most frequently originated loan type of loans were Conventional, with 1,920 originations. Their 2nd most popular type is FHA, with 136 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,443 $511,565,000 $354,515 $5,080 2.96%
Refi 399 $139,415,000 $349,411 $3,762 2.84%
Cash Out Refi 185 $65,015,000 $351,432 $3,866 3.15%
Home Improvement 20 $7,670,000 $383,500 $4,097 3.17%
Other 9 $2,195,000 $243,889 $4,275 3.07%

For the 2021, William Raveis Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,443 originations. The 2nd most popular reason of loans were Refi, with 399 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,827 $656,185,000 $359,160 $4,833 3.00%
15 Year 146 $43,160,000 $295,616 $3,718 2.49%
20 Year 61 $19,045,000 $312,213 $3,555 2.89%
10 Year 11 $2,915,000 $265,000 $3,523 2.31%
Other 11 $4,555,000 $414,091 $3,513 2.97%

For the 2021, William Raveis Mortgage 's most frequently cited loan length of loans were 30 Year, with 1,827 originations. The 2nd most popular length of loans were 15 Year, with 146 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,753 $620,005,000 $353,682
$2k-3k 79 $28,955,000 $366,519
$3k-4k 48 $20,930,000 $436,042
$5k+ 42 $26,260,000 $625,238
$<1k 31 $3,445,000 $111,129

$4,833 of loans were William Raveis Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,753 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,104 $407,850,000 $369,429
3-4% 694 $240,830,000 $347,017
<2.5% 241 $73,035,000 $303,050
4-5% 17 $4,145,000 $243,824

During 2021, William Raveis Mortgage 's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,104 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,022 $298,210,000 $291,791 $4,516 2.97%
$400k-600k 507 $244,585,000 $482,416 $4,948 2.97%
$100k-200k 312 $49,390,000 $158,301 $3,970 2.95%
$600k-1MM 147 $102,285,000 $695,816 $6,079 2.96%
$100,000 or less 48 $2,810,000 $58,542 $3,173 2.62%
$1MM+ 20 $28,580,000 $1,429,000 $9,553 2.85%

2021 saw William Raveis Mortgage place emphasis on $200k-400k loans with 1,022 originations, totaling $298,210,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 520 $190,560,000 $366,462 $4,591 2.98%
$150k-250k 480 $207,310,000 $431,896 $4,706 3.00%
$75k-100k 379 $110,035,000 $290,330 $4,532 2.94%
$50k-75k 345 $79,165,000 $229,464 $4,777 2.89%
$250k+ 212 $116,460,000 $549,340 $5,414 2.93%
$50k or less 111 $18,075,000 $162,838 $4,299 2.89%

William Raveis Mortgage lent most frequently to those with incomes in the $100k-150k range, with 520 originations. The second most popular income band? $150k-250k, with 480 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 494 $178,050,000 $360,425 $4,340 2.95%
30-36% 366 $124,070,000 $338,989 $4,426 2.94%
<20% 167 $59,365,000 $355,479 $4,121 2.83%
42% 94 $32,000,000 $340,426 $4,974 2.99%
38% 85 $31,485,000 $370,412 $4,940 2.97%
39% 83 $29,245,000 $352,349 $4,277 2.99%
36% 82 $30,960,000 $377,561 $4,675 2.99%
37% 77 $26,905,000 $349,416 $4,183 2.97%
44% 76 $27,550,000 $362,500 $4,888 3.04%
43% 74 $28,140,000 $380,270 $5,195 2.96%
45% 69 $24,335,000 $352,681 $5,214 2.97%
41% 62 $21,250,000 $342,742 $4,844 3.08%
40% 62 $21,130,000 $340,806 $4,853 3.04%
49% 58 $21,080,000 $363,448 $5,446 3.04%
46% 57 $19,085,000 $334,825 $4,974 3.02%
48% 52 $19,490,000 $374,808 $5,016 2.98%
50-60% 49 $14,895,000 $303,980 $8,827 2.71%
47% 48 $16,380,000 $341,250 $5,046 2.88%
>60% 1 $445,000 $445,000 $13,593 3.00%

William Raveis Mortgage lent most frequently to those with DTI ratios of 20-30%, with 494 originations. The next most common DTI ratio? 30-36%, with 366 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,647 $578,435,000 $351,205 $4,568 2.97%
Not provided 227 $80,335,000 $353,899 $4,846 2.89%
Asian 98 $40,310,000 $411,327 $5,215 2.90%
Black 71 $22,325,000 $314,437 $6,211 2.86%
American Indian 5 $1,735,000 $347,000 $7,360 3.03%
Native Hawaiian 3 $995,000 $331,667 $6,765 3.17%
Asian Indian 2 $820,000 $410,000 $6,285 2.75%
Korean 1 $485,000 $485,000 $8,994 2.50%
Other Asian 2 $420,000 $210,000 $6,266 2.75%

Approval Rates

Total approvals of all applications
95.11%

William Raveis Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
76.80%

William Raveis Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,056 $725,860,000 $353,045

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,056 $725,860,000 $353,045

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 97 $24,995,000 $257,680 $3,825 2.82%
40-60% 310 $107,500,000 $346,774 $3,884 2.85%
60-80% 739 $268,395,000 $363,187 $4,315 3.04%
80-100% 881 $322,035,000 $365,533 $5,371 2.95%
Under 20% 29 $2,935,000 $101,207 $3,785 2.28%