William Raveis Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 5493009OLY1HC3F0SB77

Tax ID: 06-1297784

5 stars - out of 5 stars, based on 30 reviews

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

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Mortgage Data

  • SimulatedRates™
  • 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

    William Raveis Mortgage is a smaller mortgage company specializing in loans. William Raveis Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Hartford, Boston, Bridgeport, New Haven, and New York among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

    William Raveis Mortgage has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. William Raveis Mortgage 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 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) 3.77% 3/27/23
    30 Year Conventional Purchase 6.43% 3/27/23
    30 Year Conventional Refi 6.48% 3/27/23
    30 Year Cash-out Refi 6.71% 3/27/23
    30 Year FHA Purchase 7.04% 3/27/23
    30 Year USDA Purchase 6.90% 3/27/23
    15 Year Conventional Purchase 5.78% 3/27/23
    15 Year Conventional Refi 6.13% 3/27/23
    15 Year Cash-out Refi 6.13% 3/27/23
    15 Year FHA Purchase 7.62% 3/27/23
    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.


    Originations

    922

    Origination Dollar Volume (All Markets)

    $323,870,000
    Show all (5) awards

    Relative Rate

    William Raveis Mortgage's average 30 year fixed mortgage rate was 4.86%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.1%.

    Relative Fees (Closing Costs)

    William Raveis Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $5,767.

    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 $4,750.

    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
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 224 $60,710,000 $271,027 $5,356 4.82%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 123 $60,575,000 $492,480 $5,125 4.68%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 158 $59,500,000 $376,582 $6,080 4.68%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 163 $47,635,000 $292,239 $5,942 4.71%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 58 $28,750,000 $495,690 $7,186 4.77%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 37 $13,165,000 $355,811 $5,245 4.57%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 39 $12,195,000 $312,692 $5,993 5.11%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 19 $7,285,000 $383,421 $4,639 4.78%
    Torrington, CT (FHA|USDA|VA) 27 $6,645,000 $246,111 $5,424 4.32%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 15 $6,345,000 $423,000 $7,379 4.02%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 10 $4,430,000 $443,000 $6,656 4.58%
    SPRINGFIELD, MA (FHA|USDA|VA) 11 $3,885,000 $353,182 $5,219 5.20%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 7 $2,455,000 $350,714 $5,418 4.25%
    WORCESTER, MA-CT (FHA|USDA|VA) 8 $2,440,000 $305,000 $4,466 4.95%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 7 $2,405,000 $343,571 $5,418 4.96%
    Lebanon, NH-VT (FHA|USDA|VA) 3 $1,305,000 $435,000 $6,792 5.21%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $655,000 $218,333 $3,498 5.00%
    KINGSTON, NY (FHA|USDA|VA) 1 $615,000 $615,000 $5,976 3.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $575,000 $575,000 $13,890 5.50%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $495,000 $495,000 $6,384 7.13%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $455,000 $455,000 $4,758 5.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $375,000 $375,000 $8,779 4.13%
    Keene, NH (FHA|USDA|VA) 1 $275,000 $275,000 $3,392 5.00%
    Laconia, NH (FHA|USDA|VA) 1 $195,000 $195,000 $3,903 7.13%
    Rutland, VT (FHA|USDA|VA) 1 $185,000 $185,000 $9,175 6.50%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,589 5.13%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $145,000 $145,000 $0 7.13%
    William Raveis Mortgage's top markets include Hartford, Boston, Bridgeport, New Haven, and New York among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against WILLIAM RAVEIS MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Homestar Mortgage, Inc.
    Similarity Rank: 52
    SOMERSET
    Similarity Rank: 87
    Northfield Savings Bank
    Similarity Rank: 155
    Freedom Credit Union
    Similarity Rank: 228
    N C P D Federal Credit Union
    Similarity Rank: 306
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 326
    GREATER SPRINGFIELD CREDIT UNION
    Similarity Rank: 336
    SCIENT Federal Credit Union
    Similarity Rank: 338
    Sanborn Mortgage Corporation
    Similarity Rank: 348
    Schuyler Savings Bank
    Similarity Rank: 352

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 851 $302,295,000 $355,223 $5,307 4.77%
    FHA 69 $21,355,000 $309,493 $10,545 4.47%
    HELOC 1 $15,000 $15,000 n/a 2.00%
    USDA 1 $205,000 $205,000 $5,969 4.00%

    For 2022, William Raveis Mortgage's most frequently originated type of loan was Conventional, with 851 originations. Their 2nd most popular type was FHA, with 69 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 846 $299,530,000 $354,054 $5,854 4.80%
    Cash Out Refi 45 $15,635,000 $347,444 $4,615 4.49%
    Refi 23 $6,355,000 $276,304 $3,494 3.34%
    Other 6 $1,980,000 $330,000 $4,941 3.98%
    Home Improvement 2 $370,000 $185,000 $3,330 4.13%

    For 2022, William Raveis Mortgage's most frequently cited loan purpose was Home Purchase, with 846 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 865 $310,095,000 $358,491 $5,767 4.86%
    15 Year 34 $9,680,000 $284,706 $4,959 3.55%
    10 Year 12 $520,000 $43,333 $4,224 0.65%
    20 Year 11 $3,575,000 $325,000 $4,941 3.77%

    For 2022, William Raveis Mortgage's most frequently cited loan duration was 30 Year, with 865 originations. The 2nd most popular length was 15 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 631 $225,825,000 $357,884
    $5k+ 79 $36,445,000 $461,329
    $2k-3k 55 $18,185,000 $330,636
    $3k-4k 43 $15,965,000 $371,279
    $4k-5k 36 $14,190,000 $394,167
    $<1k 23 $1,105,000 $48,043

    William Raveis Mortgage's average total fees were $5,767, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 631 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 285 $103,425,000 $362,895
    3-4% 238 $86,330,000 $362,731
    4-5% 202 $80,630,000 $399,158
    6-7% 114 $36,170,000 $317,281
    <2.5% 34 $2,300,000 $67,647
    2.5-3% 25 $7,405,000 $296,200
    7-8% 23 $7,135,000 $310,217
    Over 8% 1 $475,000 $475,000

    During 2022, William Raveis Mortgage's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 5-6%, with 285 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 431 $125,845,000 $291,984 $5,654 4.89%
    $400k-600k 240 $115,410,000 $480,875 $6,331 4.89%
    $100k-200k 125 $19,615,000 $156,920 $4,440 4.93%
    $600k-1MM 80 $55,480,000 $693,500 $7,361 4.80%
    $100,000 or less 41 $1,465,000 $35,732 $1,420 1.81%
    $1MM+ 5 $6,055,000 $1,211,000 $10,410 3.45%

    2022 saw William Raveis Mortgage place emphasis on $200k-400k loans with 431 originations, totaling $125,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 242 $84,220,000 $348,017 $5,915 4.89%
    $150k-250k 221 $99,305,000 $449,344 $5,904 4.93%
    $75k-100k 166 $48,290,000 $290,904 $5,444 4.59%
    $50k-75k 151 $29,295,000 $194,007 $4,961 4.32%
    $250k+ 105 $56,955,000 $542,429 $7,036 4.88%
    $50k or less 37 $5,805,000 $156,892 $4,302 4.65%

    William Raveis Mortgage lent most frequently to those with incomes in the $100k-150k range, with 242 originations. The second most popular income band? $150k-250k, with 221 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 206 $78,890,000 $382,961 $5,435 4.63%
    30-36% 172 $57,720,000 $335,581 $5,636 4.73%
    <20% 50 $17,310,000 $346,200 $5,319 4.50%
    41% 42 $14,610,000 $347,857 $5,353 4.55%
    42% 39 $13,555,000 $347,564 $5,551 4.94%
    45% 38 $12,210,000 $321,316 $5,517 4.70%
    44% 37 $12,395,000 $335,000 $6,356 4.90%
    39% 36 $10,920,000 $303,333 $5,462 4.35%
    43% 35 $12,755,000 $364,429 $6,607 4.78%
    48% 34 $12,500,000 $367,647 $6,183 4.83%
    38% 31 $11,725,000 $378,226 $5,061 4.95%
    37% 31 $9,725,000 $313,710 $4,863 5.19%
    47% 31 $9,535,000 $307,581 $5,954 4.82%
    40% 30 $11,380,000 $379,333 $5,288 4.60%
    46% 29 $10,715,000 $369,483 $6,204 5.03%
    49% 29 $10,665,000 $367,759 $6,705 5.28%
    50-60% 26 $7,270,000 $279,615 $9,724 4.65%
    36% 26 $9,990,000 $384,231 $5,114 4.78%

    William Raveis Mortgage lent most frequently to those with DTI ratios of 20-30%, with 206 originations. The next most common DTI ratio? 30-36%, with 172 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 697 $249,975,000 $358,644 $5,645 4.77%
    Not provided 123 $40,125,000 $326,220 $5,608 4.60%
    Asian 39 $16,345,000 $419,103 $6,832 4.95%
    Black 56 $15,780,000 $281,786 $6,192 4.51%
    American Indian 6 $1,300,000 $216,667 $6,412 4.00%
    Asian Indian 1 $345,000 $345,000 $6,890 6.88%

    Approval Rates

    Total approvals of all applications
    91.72%

    William Raveis Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.34%

    William Raveis Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 922 $323,870,000 $351,269

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    922 $323,870,000 $351,269

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $9,075,000 $245,270 $4,720 4.64%
    40-60% 99 $29,365,000 $296,616 $4,811 4.74%
    60-80% 283 $104,185,000 $368,145 $5,565 4.92%
    80-100% 465 $179,615,000 $386,269 $6,339 4.90%
    Under 20% 38 $1,630,000 $42,895 $1,303 1.53%