Greenwood Mortgage Rates, Fees & Info

Warwick, RI

LEI: 549300JD1162QW84ZO34

Tax ID: 05-0254228

5 stars - Updated: 6/17/24 - out of 5 stars, based on 26 reviews

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

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Mortgage Data

Review & Overview

Greenwood is a smaller mortgage company specializing in Home Purchase and Home Improvement loans. Greenwood has a high proportion of conventional loans. Their top markets by origination volume include: Providence, Boston, New York, Salisbury, and Phoenix among others. We have data for 69 markets. (Some data included below & more in-depth data is available with an active subscription.)

Greenwood has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Greenwood is typically a low 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) 5.63% 6/17/24
30 Year Conventional Purchase 6.62% 6/17/24
30 Year Conventional Refi 6.43% 6/17/24
30 Year Cash-out Refi 6.73% 6/17/24
15 Year Conventional Purchase 5.89% 6/17/24
15 Year Conventional Refi 5.67% 6/17/24
15 Year Cash-out Refi 5.67% 6/17/24
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.

Greenwood Mortgage Calculator






Your Estimates

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

This is not an official calculator from Greenwood. 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

672

Origination Dollar Volume (All Markets)

$77,510,000

Awards

GREENWOOD 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Greenwood's average 30 year fixed mortgage rate was 6.52%.

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

This yields a difference of 0.04%.

Relative Fees (Closing Costs)

Greenwood's average total fees/closing costs for a 30 year fixed rate mortgage were $3,686.

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
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 345 $46,145,000 $133,754 $1,272 7.69%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 20 $3,770,000 $188,500 $2,215 8.16%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 22 $2,820,000 $128,182 $0 8.82%
SALISBURY, MD-DE (FHA|USDA|VA) 18 $2,210,000 $122,778 $0 8.48%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 29 $1,995,000 $68,793 $0 8.44%
PORT ST. LUCIE, FL (FHA|USDA|VA) 7 $1,765,000 $252,143 $0 7.81%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 24 $1,470,000 $61,250 $0 8.75%
Outside of Metro Areas 13 $1,445,000 $111,154 $1,619 7.84%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 8 $920,000 $115,000 $0 8.65%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $760,000 $380,000 $0 7.25%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 8 $730,000 $91,250 $0 8.11%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 11 $715,000 $65,000 $0 9.05%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 7 $695,000 $99,286 $0 8.84%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 9 $685,000 $76,111 $0 8.18%
WORCESTER, MA-CT (FHA|USDA|VA) 9 $675,000 $75,000 $378 8.32%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 12 $670,000 $55,833 $0 9.16%
YUMA, AZ (FHA|USDA|VA) 6 $620,000 $103,333 $0 7.91%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $560,000 $140,000 $3,695 7.84%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 9 $555,000 $61,667 $2,848 8.60%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 6 $530,000 $88,333 $0 8.44%
SPRINGFIELD, MA (FHA|USDA|VA) 5 $425,000 $85,000 $0 8.50%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 6 $410,000 $68,333 $0 8.24%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 8 $390,000 $48,750 $0 8.93%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 5 $385,000 $77,000 $2,489 7.87%
PITTSFIELD, MA (FHA|USDA|VA) 7 $365,000 $52,143 $0 8.70%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $360,000 $180,000 $3,501 6.00%
KINGSTON, NY (FHA|USDA|VA) 4 $340,000 $85,000 $0 8.90%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $290,000 $145,000 $4,363 8.19%
TUCSON, AZ (FHA|USDA|VA) 5 $285,000 $57,000 $0 8.35%
Keene, NH (FHA|USDA|VA) 2 $240,000 $120,000 $0 9.38%
Holland, MI (FHA|USDA|VA) 1 $225,000 $225,000 $0 9.50%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $220,000 $110,000 $0 8.38%
Lebanon, NH-VT (FHA|USDA|VA) 2 $220,000 $110,000 $0 8.50%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $215,000 $71,667 $0 8.08%
KNOXVILLE, TN (FHA|USDA|VA) 2 $210,000 $105,000 $0 7.73%
Key West, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.49%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $195,000 $65,000 $0 8.71%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $180,000 $90,000 $0 8.37%
Concord, NH (FHA|USDA|VA) 2 $180,000 $90,000 $0 7.75%
ANN ARBOR, MI (FHA|USDA|VA) 2 $160,000 $80,000 $0 8.49%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $160,000 $80,000 $0 8.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $150,000 $75,000 $0 8.00%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $115,000 $115,000 $0 9.13%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $115,000 $115,000 $0 8.49%
SALEM, OR (FHA|USDA|VA) 1 $115,000 $115,000 $0 9.50%
OCALA, FL (FHA|USDA|VA) 2 $100,000 $50,000 $0 9.13%
MONROE, MI (FHA|USDA|VA) 2 $100,000 $50,000 $0 8.69%
JACKSON, MI (FHA|USDA|VA) 2 $90,000 $45,000 $0 9.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.99%
Pullman, WA (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.75%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $85,000 $85,000 $0 9.50%
UTICA-ROME, NY (FHA|USDA|VA) 2 $80,000 $40,000 $0 9.06%
Gloversville, NY (FHA|USDA|VA) 2 $80,000 $40,000 $0 8.43%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.50%
NILES, MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.50%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.38%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.75%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.50%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.50%
Laconia, NH (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.50%
Amsterdam, NY (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.49%
ROCHESTER, NY (FHA|USDA|VA) 2 $60,000 $30,000 $0 10.00%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.75%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.38%
SYRACUSE, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.63%
BANGOR, ME (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.13%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.63%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.38%
Greenwood's top markets include Providence, Boston, New York, Salisbury, and Phoenix among others.

Their top states include:
  • Rhode Island (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

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

    Charter Oak Federal Credit Union
    Similarity Rank: 32
    OCEAN STATE CREDIT UNION
    Similarity Rank: 45
    SOMERSET
    Similarity Rank: 48
    ROCKLAND
    Similarity Rank: 96
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 135
    North Easton Savings Bank
    Similarity Rank: 136
    Centreville Bank
    Similarity Rank: 168
    CONWAY FINANCIAL SERVICES, LLC
    Similarity Rank: 192

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 544 $61,860,000 $113,713 $1,372 8.11%
    HELOC 128 $15,650,000 $122,266 n/a 7.92%

    For 2023, Greenwood's most frequently originated type of loan was Conventional, with 544 originations. Their 2nd most popular type was HELOC, with 128 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 334 $40,780,000 $122,096 $3,007 8.40%
    Home Improvement 164 $15,900,000 $96,951 $240 7.77%
    Cash Out Refi 123 $12,625,000 $102,642 $824 7.89%
    Refi 42 $5,920,000 $140,952 $1,688 7.23%
    Other 9 $2,285,000 $253,889 $1,202 7.76%

    For 2023, Greenwood's most frequently cited loan purpose was Home Purchase, with 334 originations. The 2nd most popular reason was Home Improvement, with 164 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 420 $41,880,000 $99,714 $305 8.35%
    15 Year 107 $7,075,000 $66,121 $222 8.30%
    30 Year 57 $16,215,000 $284,474 $3,686 6.52%
    10 Year 54 $8,720,000 $161,481 $53 7.34%
    5 Year 18 $570,000 $31,667 $42 7.19%
    Other 16 $3,050,000 $190,625 $1,226 8.30%

    For 2023, Greenwood's most frequently cited loan duration was 20 Year, with 420 originations. The 2nd most popular length was 15 Year, with 107 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 212 $24,390,000 $115,047
    $5k+ 2 $1,490,000 $745,000
    $4k-5k 1 $175,000 $175,000

    Greenwood's average total fees were $3,686, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 212 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 287 $31,675,000 $110,366
    Over 8% 274 $25,020,000 $91,314
    6-7% 95 $17,375,000 $182,895
    5-6% 14 $3,190,000 $227,857
    3-4% 1 $135,000 $135,000
    4-5% 1 $115,000 $115,000

    During 2023, Greenwood's average interest rate for loans was 6.52%, while their most frequently originated rate bucket for loans was 7-8%, with 287 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 427 $23,315,000 $54,602 $188 8.22%
    $100k-200k 149 $19,135,000 $128,423 $1,660 8.14%
    $200k-400k 72 $19,540,000 $271,389 $3,243 7.30%
    $400k-600k 13 $6,145,000 $472,692 $3,468 7.47%
    $600k-1MM 8 $5,850,000 $731,250 $9,188 7.32%
    $1MM+ 3 $3,525,000 $1,175,000 $0 7.34%

    2023 saw Greenwood place emphasis on $100,000 or less loans with 427 originations, totaling $23,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 149 $11,385,000 $76,409 $1,157 8.35%
    $75k-100k 111 $11,115,000 $100,135 $1,203 8.17%
    $100k-150k 102 $11,910,000 $116,765 $1,754 7.99%
    $50k or less 99 $5,125,000 $51,768 $58 8.27%
    $150k-250k 59 $9,745,000 $165,169 $1,369 7.89%
    $250k+ 22 $7,030,000 $319,545 $4,594 7.88%

    Greenwood lent most frequently to those with incomes in the $50k-75k range, with 149 originations. The second most popular income band? $75k-100k, with 111 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 62 $5,880,000 $94,839 $3,145 8.44%
    20-30% 61 $4,565,000 $74,836 $203 8.39%
    43% 30 $2,550,000 $85,000 $0 8.65%
    41% 23 $1,615,000 $70,217 $88 8.58%
    44% 19 $1,695,000 $89,211 $1,288 8.66%
    42% 18 $1,420,000 $78,889 $203 8.55%
    40% 18 $1,810,000 $100,556 $0 8.27%
    36% 18 $1,640,000 $91,111 $125 8.38%
    38% 17 $1,325,000 $77,941 $0 8.38%
    <20% 16 $1,510,000 $94,375 $0 8.44%
    37% 12 $860,000 $71,667 $0 8.31%
    39% 11 $1,025,000 $93,182 $0 8.57%
    50-60% 7 $675,000 $96,429 $0 8.35%
    46% 4 $320,000 $80,000 $0 8.37%
    >60% 3 $305,000 $101,667 $0 8.16%
    45% 3 $135,000 $45,000 $0 8.79%
    48% 3 $225,000 $75,000 $0 9.54%
    49% 1 $205,000 $205,000 $0 8.75%
    47% 1 $45,000 $45,000 $0 8.88%

    Greenwood lent most frequently to those with DTI ratios of 30-36%, with 62 originations. The next most common DTI ratio? 20-30%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 571 $58,355,000 $102,198 $1,416 8.06%
    Not applicable 16 $8,770,000 $548,125 $0 7.33%
    Not provided 59 $7,335,000 $124,322 $572 8.26%
    Asian 8 $1,120,000 $140,000 $203 8.48%
    Black 14 $990,000 $70,714 $0 8.16%
    Chinese 2 $860,000 $430,000 $3,345 6.88%
    American Indian 1 $55,000 $55,000 $0 9.50%
    Native Hawaiian or Islander 1 $25,000 $25,000 $0 9.99%

    Approval Rates

    Total approvals of all applications
    62.04%

    Greenwood has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    75.30%

    Greenwood has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1020.5 1 $205,000 $205,000
    1021.2 5 $495,000 $99,000
    1035.5 6 $640,000 $106,667
    1035.6 6 $500,000 $83,333
    1041.2 5 $715,000 $143,000
    1042.75 7 $415,000 $59,286
    1045.0 5 $385,000 $77,000
    1051.2 13 $1,135,000 $87,308
    1054.6 1 $25,000 $25,000
    1055.6 10 $700,000 $70,000
    1065.6 19 $1,185,000 $62,368
    1080.0 19 $2,305,000 $121,316
    1085.0 6 $410,000 $68,333
    1092.75 1 $75,000 $75,000
    1150.2 2 $200,000 $100,000
    1151.2 23 $2,025,000 $88,043
    1164.6 3 $205,000 $68,333
    1165.6 13 $1,115,000 $85,769
    1190.0 6 $510,000 $85,000
    1195.0 3 $155,000 $51,667
    1827.0 1 $265,000 $265,000
    195.0 8 $510,000 $63,750
    395.0 1 $75,000 $75,000
    651.2 1 $75,000 $75,000
    665.6 1 $95,000 $95,000
    686.2 1 $85,000 $85,000
    700.5 2 $120,000 $60,000
    700.6 3 $175,000 $58,333
    707.75 2 $190,000 $95,000
    741.2 21 $1,885,000 $89,762
    754.6 3 $305,000 $101,667
    755.6 41 $2,085,000 $50,854
    755.69 1 $35,000 $35,000
    817.75 1 $55,000 $55,000
    830.6 1 $75,000 $75,000
    85.0 1 $185,000 $185,000
    851.2 3 $395,000 $131,667
    865.6 2 $180,000 $90,000
    911.2 1 $85,000 $85,000
    911.75 1 $45,000 $45,000
    925.5 5 $715,000 $143,000
    932.75 1 $65,000 $65,000
    935.0 2 $150,000 $75,000
    941.2 10 $1,060,000 $106,000
    947.31 1 $125,000 $125,000
    955.6 17 $1,365,000 $80,294
    995.0 2 $420,000 $210,000
    NA 384 $53,290,000 $138,776

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    672 $77,510,000 $115,342

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $2,200,000 $57,895 $0 7.64%
    40-60% 63 $8,515,000 $135,159 $0 7.82%
    60-80% 94 $11,190,000 $119,043 $3,158 8.37%
    80-100% 122 $11,860,000 $97,213 $3,838 9.18%
    Over 100% 7 $3,975,000 $567,857 $0 7.72%
    Under 20% 26 $1,070,000 $41,154 $64 7.69%