William Raveis Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 5493009OLY1HC3F0SB77
Tax ID: 06-1297784
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Mortgage 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
2,056Origination Dollar Volume (All Markets)
$725,860,000Awards
WILLIAM RAVEIS MORTGAGE - 2021
WILLIAM RAVEIS MORTGAGE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications95.11%
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 origination76.80%
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% |
