Sanborn Mortgage Corporation Rates, Fees & Info

WEST HARTFORD, CT

LEI: 549300FCKH37LHQEEV88

Tax ID: 06-1051107

3.6 stars - Updated: 4/5/25

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Sanborn Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Sanborn Mortgage Corporation has a high proportion of conventional loans.

Sanborn Mortgage Corporation 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. Sanborn Mortgage Corporation 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
30 Year Conventional Purchase	6.89%	4/5/25
30 Year Conventional Refi	6.83%	4/5/25
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.

Sanborn Mortgage Corporation Mortgage Calculator

Purchase Price:

Loan Amount:

Deposit Amount:

% Deposit:

Interest Rate:

Loan Type:

Your Estimates

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

This is not an official calculator from Sanborn Mortgage Corporation. 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

Origination Dollar Volume (All Markets)

$13,695,000

Relative Rate

Sanborn Mortgage Corporation's average 30 year fixed mortgage rate was 6.64%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of 0.09%.

Relative Fees (Closing Costs)

Sanborn Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $9,516.

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 $8,356.

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
Outside of Metro Areas	31	$13,695,000	$441,774	$9,516	6.64%

Sanborn Mortgage Corporation's top markets include

Their top states include:

Connecticut (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	31	$13,695,000	$441,774	$9,516	6.64%

For 2024, Sanborn Mortgage Corporation's most frequently originated type of loan was Conventional, with 31 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	29	$12,935,000	$446,034	$9,695	6.65%
Refi	2	$760,000	$380,000	$6,916	6.50%

For 2024, Sanborn Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Refi, with 2 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	31	$13,695,000	$441,774	$9,516	6.64%

For 2024, Sanborn Mortgage Corporation's most frequently cited loan duration was 30 Year, with 31 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$5k+	20	$10,180,000	$509,000
$1k-2k	4	$1,570,000	$392,500
$3k-4k	4	$1,000,000	$250,000
$4k-5k	2	$640,000	$320,000
$2k-3k	1	$305,000	$305,000

Sanborn Mortgage Corporation's average total fees were $9,516, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 20 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
6-7%	29	$12,975,000	$447,414
5-6%	1	$355,000	$355,000
7-8%	1	$365,000	$365,000

During 2024, Sanborn Mortgage Corporation's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 6-7%, with 29 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	15	$4,575,000	$305,000	$8,398	6.70%
$400k-600k	8	$3,850,000	$481,250	$10,153	6.56%
$600k-1MM	6	$4,050,000	$675,000	$11,656	6.54%
$100k-200k	1	$175,000	$175,000	$4,739	6.99%
$1MM+	1	$1,045,000	$1,045,000	$13,122	6.50%

2024 saw Sanborn Mortgage Corporation place emphasis on $200k-400k loans with 15 originations, totaling $4,575,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	11	$6,295,000	$572,273	$10,554	6.52%
$100k-150k	9	$2,885,000	$320,556	$8,484	6.62%
$150k-250k	8	$3,740,000	$467,500	$10,248	6.75%
$75k-100k	3	$775,000	$258,333	$6,854	6.83%

Sanborn Mortgage Corporation lent most frequently to those with incomes in the $250k+ range, with 11 originations. The second most popular income band? $100k-150k, with 9 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	8	$4,600,000	$575,000	$10,854	6.53%
20-30%	8	$2,640,000	$330,000	$7,792	6.56%
41%	6	$2,680,000	$446,667	$9,788	6.73%
46%	2	$760,000	$380,000	$10,528	7.24%
38%	2	$930,000	$465,000	$10,073	6.69%
47%	1	$455,000	$455,000	$9,764	6.50%
37%	1	$255,000	$255,000	$7,640	6.38%
39%	1	$345,000	$345,000	$9,633	6.50%
40%	1	$665,000	$665,000	$13,585	6.50%
<20%	1	$365,000	$365,000	$5,274	6.99%

Sanborn Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? 20-30%, with 8 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	25	$11,035,000	$441,400	$9,889	6.67%
Asian	5	$2,175,000	$435,000	$7,314	6.50%
American Indian	1	$485,000	$485,000	$11,191	6.50%

Approval Rates

Total approvals of all applications
95.65%

Sanborn Mortgage Corporation 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
70.97%

Sanborn Mortgage Corporation has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	31	$13,695,000	$441,774

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	31	$13,695,000	$441,774

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	4	$1,270,000	$317,500	$6,984	6.59%
40-60%	3	$895,000	$298,333	$9,327	6.75%
60-80%	12	$4,940,000	$411,667	$9,719	6.74%
80-100%	12	$6,590,000	$549,167	$10,204	6.53%