William Raveis Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 5493009OLY1HC3F0SB77

Tax ID: 06-1297784

5 stars - Updated: 11/17/24 - out of 5 stars, based on 26 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • 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 Home Purchase loans. William Raveis Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Hartford, Bridgeport, Boston, New Haven, and New York among others. We have data for 20 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 relatively high 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% 11/17/24
    30 Year Conventional Purchase 6.43% 11/17/24
    30 Year Conventional Refi 6.48% 11/17/24
    30 Year Cash-out Refi 6.71% 11/17/24
    30 Year FHA Purchase 7.04% 11/17/24
    30 Year USDA Purchase 6.90% 11/17/24
    15 Year Conventional Purchase 5.78% 11/17/24
    15 Year Conventional Refi 6.13% 11/17/24
    15 Year Cash-out Refi 6.13% 11/17/24
    15 Year FHA Purchase 7.62% 11/17/24
    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.

    William Raveis Mortgage Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from William Raveis Mortgage. 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

    674

    Origination Dollar Volume (All Markets)

    $210,730,000
    Show all (6) awards

    Relative Rate

    William Raveis Mortgage's average 30 year fixed mortgage rate was 6.26%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.22%.

    Relative Fees (Closing Costs)

    William Raveis Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $5,975.

    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 $9,089.

    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) 191 $49,105,000 $257,094 $5,823 5.60%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 128 $42,820,000 $334,531 $6,146 5.52%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 78 $36,130,000 $463,205 $5,359 6.67%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 132 $30,750,000 $232,955 $5,868 5.31%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 31 $15,955,000 $514,677 $6,846 6.83%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 18 $6,720,000 $373,333 $6,013 6.87%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 12 $5,570,000 $464,167 $9,715 6.60%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 19 $4,605,000 $242,368 $5,308 6.46%
    SPRINGFIELD, MA (FHA|USDA|VA) 13 $4,325,000 $332,692 $5,324 6.83%
    Torrington, CT (FHA|USDA|VA) 22 $4,100,000 $186,364 $5,430 4.44%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $2,135,000 $427,000 $5,988 6.58%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $2,015,000 $403,000 $6,129 7.23%
    Lebanon, NH-VT (FHA|USDA|VA) 5 $1,845,000 $369,000 $11,925 7.30%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,290,000 $322,500 $7,507 7.16%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $920,000 $460,000 $10,337 7.56%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $710,000 $355,000 $5,067 7.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $610,000 $305,000 $8,706 6.50%
    Outside of Metro Areas 3 $585,000 $195,000 $5,591 7.17%
    Concord, NH (FHA|USDA|VA) 1 $385,000 $385,000 $6,842 5.38%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,996 6.13%
    William Raveis Mortgage's top markets include Hartford, Bridgeport, Boston, 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)
  • Rhode Island (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.

    Walden Savings Bank
    Similarity Rank: 15
    Florence Bank
    Similarity Rank: 22
    LUSO
    Similarity Rank: 40
    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    Adams Community Bank
    Similarity Rank: 42
    OCEAN STATE CREDIT UNION
    Similarity Rank: 45
    Greenfield Savings Bank
    Similarity Rank: 45
    SOMERSET
    Similarity Rank: 48
    Stafford Savings Bank
    Similarity Rank: 63
    POLISH NATIONAL
    Similarity Rank: 68

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 621 $193,425,000 $311,473 $5,489 5.79%
    FHA 53 $17,305,000 $326,509 $11,166 6.29%

    For 2023, William Raveis Mortgage's most frequently originated type of loan was Conventional, with 621 originations. Their 2nd most popular type was FHA, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 655 $205,345,000 $313,504 $5,987 5.80%
    Cash Out Refi 6 $2,190,000 $365,000 $7,754 6.83%
    Other 5 $1,045,000 $209,000 $4,764 7.35%
    Home Improvement 4 $1,130,000 $282,500 $5,579 6.97%
    Refi 4 $1,020,000 $255,000 $4,930 6.59%

    For 2023, William Raveis Mortgage's most frequently cited loan purpose was Home Purchase, with 655 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 617 $204,905,000 $332,099 $5,975 6.26%
    10 Year 45 $1,555,000 $34,556 $0 0.00%
    15 Year 9 $3,205,000 $356,111 $6,297 5.99%
    20 Year 3 $1,065,000 $355,000 $7,632 5.96%

    For 2023, William Raveis Mortgage's most frequently cited loan duration was 30 Year, with 617 originations. The 2nd most popular length was 10 Year, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 386 $136,410,000 $353,394
    $5k+ 60 $27,610,000 $460,167
    $<1k 53 $935,000 $17,642
    $2k-3k 53 $17,855,000 $336,887
    $3k-4k 28 $9,630,000 $343,929
    $4k-5k 25 $10,165,000 $406,600

    William Raveis Mortgage's average total fees were $5,975, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 386 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 350 $125,930,000 $359,800
    7-8% 144 $54,330,000 $377,292
    <2.5% 98 $2,490,000 $25,408
    5-6% 71 $23,425,000 $329,930
    Over 8% 10 $4,370,000 $437,000
    4-5% 1 $185,000 $185,000

    During 2023, William Raveis Mortgage's average interest rate for loans was 6.26%, while their most frequently originated rate bucket for loans was 6-7%, with 350 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 296 $86,220,000 $291,284 $6,108 6.77%
    $400k-600k 131 $64,305,000 $490,878 $7,499 6.84%
    $100,000 or less 102 $2,780,000 $27,255 $800 0.78%
    $100k-200k 81 $12,565,000 $155,123 $5,016 6.49%
    $600k-1MM 61 $41,705,000 $683,689 $7,825 6.66%
    $1MM+ 3 $3,155,000 $1,051,667 $8,669 6.75%

    2023 saw William Raveis Mortgage place emphasis on $200k-400k loans with 296 originations, totaling $86,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 167 $48,915,000 $292,904 $5,979 5.96%
    $150k-250k 153 $67,545,000 $441,471 $7,021 6.79%
    $75k-100k 133 $26,615,000 $200,113 $5,117 5.09%
    $50k-75k 109 $16,075,000 $147,477 $4,477 4.52%
    $250k+ 91 $49,265,000 $541,374 $7,318 6.93%
    $50k or less 21 $2,315,000 $110,238 $4,386 4.65%

    William Raveis Mortgage lent most frequently to those with incomes in the $100k-150k range, with 167 originations. The second most popular income band? $150k-250k, with 153 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 133 $38,125,000 $286,654 $5,461 5.73%
    20-30% 94 $33,650,000 $357,979 $6,170 6.63%
    44% 42 $12,450,000 $296,429 $6,161 5.34%
    49% 37 $11,965,000 $323,378 $5,751 5.79%
    41% 34 $9,660,000 $284,118 $5,466 5.41%
    40% 33 $8,295,000 $251,364 $5,803 5.46%
    38% 31 $8,105,000 $261,452 $6,294 5.33%
    48% 31 $9,505,000 $306,613 $6,536 5.58%
    46% 27 $8,445,000 $312,778 $5,824 5.82%
    42% 27 $7,295,000 $270,185 $6,877 5.40%
    47% 27 $8,315,000 $307,963 $5,292 5.42%
    <20% 26 $9,520,000 $366,154 $5,499 6.63%
    39% 26 $9,670,000 $371,923 $5,898 5.76%
    37% 25 $8,615,000 $344,600 $5,491 5.99%
    45% 24 $8,880,000 $370,000 $6,112 6.81%
    36% 22 $7,480,000 $340,000 $5,861 6.03%
    43% 20 $5,000,000 $250,000 $5,502 4.78%
    50-60% 15 $5,755,000 $383,667 $11,485 6.12%

    William Raveis Mortgage lent most frequently to those with DTI ratios of 30-36%, with 133 originations. The next most common DTI ratio? 20-30%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 489 $155,245,000 $317,474 $5,890 6.04%
    Not provided 109 $33,815,000 $310,229 $6,493 5.31%
    Asian 38 $11,430,000 $300,789 $5,965 5.44%
    Black 32 $8,770,000 $274,063 $6,051 4.91%
    American Indian 4 $840,000 $210,000 $4,515 5.25%
    Chinese 1 $455,000 $455,000 $6,149 7.63%
    Korean 1 $175,000 $175,000 $5,826 7.00%

    Approval Rates

    Total approvals of all applications
    90.82%

    William Raveis Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.18%

    William Raveis Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 674 $210,730,000 $312,656

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    674 $210,730,000 $312,656

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $11,445,000 $208,091 $4,731 6.13%
    40-60% 59 $18,375,000 $311,441 $5,747 6.70%
    60-80% 176 $66,370,000 $377,102 $6,050 6.80%
    80-100% 288 $111,700,000 $387,847 $7,138 6.70%
    Under 20% 96 $2,840,000 $29,583 $1,017 0.76%