Greenwood Mortgage Rates, Fees & Info

Warwick, RI

LEI: 549300JD1162QW84ZO34

Tax ID: 05-0254228

5 stars - out of 5 stars, based on 31 reviews

Latest/2021 | 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
  • Complaints
  • 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

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

    Greenwood has an 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 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) 6.27% 3/19/23
    30 Year Conventional Purchase 6.60% 3/19/23
    30 Year Conventional Refi 6.41% 3/19/23
    30 Year Cash-out Refi 6.65% 3/19/23
    15 Year Conventional Purchase 5.68% 3/19/23
    15 Year Conventional Refi 6.20% 3/19/23
    15 Year Cash-out Refi 6.20% 3/19/23
    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

    932

    Origination Dollar Volume (All Markets)

    $130,360,000

    Relative Rate

    Greenwood's average 30 year fixed mortgage rate was 3.22%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.07%.

    Relative Fees (Closing Costs)

    Greenwood's average total fees/closing costs for a 30 year fixed rate mortgage were $3,509.

    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
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 522 $87,820,000 $168,238 $2,729 3.27%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 47 $7,015,000 $149,255 $2,248 4.98%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 45 $4,065,000 $90,333 $0 5.50%
    Outside of Metro Areas 27 $3,995,000 $147,963 $2,523 4.69%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,970,000 $985,000 $8,318 2.93%
    WORCESTER, MA-CT (FHA|USDA|VA) 12 $1,940,000 $161,667 $2,771 4.84%
    SALISBURY, MD-DE (FHA|USDA|VA) 16 $1,900,000 $118,750 $0 5.75%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 19 $1,815,000 $95,526 $0 5.86%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 25 $1,635,000 $65,400 $0 5.97%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 14 $1,560,000 $111,429 $0 5.83%
    SPRINGFIELD, MA (FHA|USDA|VA) 19 $1,285,000 $67,632 $0 5.12%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 13 $1,205,000 $92,692 $3,452 5.50%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 10 $1,030,000 $103,000 $0 5.60%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 9 $905,000 $100,556 $0 4.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $710,000 $118,333 $0 5.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $645,000 $92,143 $0 5.96%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $640,000 $80,000 $2,733 5.78%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 10 $640,000 $64,000 $0 6.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $575,000 $191,667 $3,309 4.17%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 6 $570,000 $95,000 $0 5.96%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 8 $540,000 $67,500 $0 5.65%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 7 $515,000 $73,571 $0 6.16%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 8 $500,000 $62,500 $0 6.11%
    READING, PA (FHA|USDA|VA) 4 $450,000 $112,500 $0 5.37%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $405,000 $135,000 $2,247 4.66%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $385,000 $77,000 $0 4.87%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 5 $375,000 $75,000 $0 6.15%
    Key West, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 6.50%
    TUCSON, AZ (FHA|USDA|VA) 4 $310,000 $77,500 $0 5.50%
    DOVER, DE (FHA|USDA|VA) 4 $290,000 $72,500 $0 5.75%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $275,000 $91,667 $0 5.58%
    KINGSTON, NY (FHA|USDA|VA) 3 $235,000 $78,333 $0 5.58%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 4 $220,000 $55,000 $0 5.87%
    Traverse City, MI (FHA|USDA|VA) 2 $210,000 $105,000 $0 6.13%
    OCEAN CITY, NJ (FHA|USDA|VA) 2 $210,000 $105,000 $0 5.50%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 6.50%
    Keene, NH (FHA|USDA|VA) 2 $170,000 $85,000 $0 5.88%
    MONROE, MI (FHA|USDA|VA) 4 $170,000 $42,500 $0 6.13%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 3 $165,000 $55,000 $0 5.83%
    Cadillac, MI (FHA|USDA|VA) 2 $150,000 $75,000 $0 5.88%
    UTICA-ROME, NY (FHA|USDA|VA) 1 $145,000 $145,000 $0 4.99%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $135,000 $135,000 $2,376 3.00%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $130,000 $65,000 $0 4.63%
    Laconia, NH (FHA|USDA|VA) 2 $130,000 $65,000 $0 4.50%
    NILES, MI (FHA|USDA|VA) 2 $120,000 $60,000 $0 6.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $110,000 $55,000 $0 5.75%
    YUMA, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.25%
    GETTYSBURG, PA (FHA|USDA|VA) 2 $100,000 $50,000 $0 5.12%
    SAGINAW, MI (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.00%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.25%
    OCALA, FL (FHA|USDA|VA) 2 $90,000 $45,000 $0 5.94%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.95%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.50%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.00%
    WILMINGTON, NC (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.24%
    LANCASTER, PA (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.00%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.81%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.37%
    Concord, NH (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.00%
    Holland, MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.25%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.00%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.75%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.00%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.25%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.50%
    Hudson, NY (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.75%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.13%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.38%
    Greenwood's top markets include Providence, Boston, Phoenix, Naples, and Worcester among others.

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

    SOMERSET
    Similarity Rank: 87
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    Sharon & Crescent United Credit Union
    Similarity Rank: 205
    Bridgewater Savings Bank
    Similarity Rank: 224
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396
    OCEAN STATE CREDIT UNION
    Similarity Rank: 405
    HARVARD UNIVERSITY EMPLOYEES
    Similarity Rank: 418
    Dedham Institution for Savings
    Similarity Rank: 518
    Rhode Island Credit Union
    Similarity Rank: 524
    ROCKLAND
    Similarity Rank: 540

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 694 $105,720,000 $152,334 $2,734 4.69%
    HELOC 238 $24,640,000 $103,529 n/a 2.91%

    For 2021, Greenwood's most frequently originated type of loan was Conventional, with 694 originations. Their 2nd most popular type was HELOC, with 238 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 388 $43,960,000 $113,299 $3,735 5.51%
    Cash Out Refi 284 $41,180,000 $145,000 $2,616 3.39%
    Refi 111 $17,345,000 $156,261 $3,243 3.15%
    Home Improvement 103 $18,325,000 $177,913 $490 3.33%
    Other 46 $9,550,000 $207,609 $2,485 3.18%

    For 2021, Greenwood's most frequently cited loan purpose was Home Purchase, with 388 originations. The 2nd most popular reason was Cash Out Refi, with 284 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 545 $62,785,000 $115,202 $2,552 4.32%
    30 Year 142 $39,310,000 $276,831 $3,509 3.22%
    15 Year 118 $15,630,000 $132,458 $2,489 4.02%
    Other 92 $10,170,000 $110,543 $228 5.59%
    10 Year 27 $2,175,000 $80,556 $536 4.22%
    5 Year 8 $290,000 $36,250 $203 4.06%

    For 2021, Greenwood's most frequently cited loan duration was 20 Year, with 545 originations. The 2nd most popular length was 30 Year, with 142 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 293 $55,525,000 $189,505
    $1k-2k 59 $5,525,000 $93,644
    $5k+ 32 $7,130,000 $222,813
    $2k-3k 14 $1,560,000 $111,429
    $3k-4k 14 $2,030,000 $145,000
    $4k-5k 8 $1,070,000 $133,750

    Greenwood's average total fees were $3,509, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 293 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 238 $28,420,000 $119,412
    6-7% 164 $13,440,000 $81,951
    4-5% 161 $13,735,000 $85,311
    5-6% 156 $13,710,000 $87,885
    2.5-3% 113 $24,675,000 $218,363
    3-4% 97 $36,225,000 $373,454
    Over 8% 1 $125,000 $125,000

    During 2021, Greenwood's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was <2.5%, with 238 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 505 $29,065,000 $57,554 $651 4.61%
    $100k-200k 249 $34,345,000 $137,932 $2,577 4.27%
    $200k-400k 145 $37,775,000 $260,517 $3,703 3.14%
    $400k-600k 26 $12,530,000 $481,923 $5,123 2.89%
    $1MM+ 6 $15,830,000 $2,638,333 $6,050 3.38%
    $600k-1MM 1 $815,000 $815,000 $4,930 3.00%

    2021 saw Greenwood place emphasis on $100,000 or less loans with 505 originations, totaling $29,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 237 $25,535,000 $107,743 $2,284 4.67%
    $50k or less 181 $14,215,000 $78,536 $2,328 4.77%
    $75k-100k 171 $18,435,000 $107,807 $2,279 4.14%
    $100k-150k 153 $22,945,000 $149,967 $2,853 3.98%
    $150k-250k 111 $19,365,000 $174,459 $2,738 3.71%
    $250k+ 57 $17,715,000 $310,789 $4,949 3.04%

    Greenwood lent most frequently to those with incomes in the $50k-75k range, with 237 originations. The second most popular income band? $50k or less, with 181 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 206 $24,280,000 $117,864 $2,562 4.12%
    30-36% 202 $24,550,000 $121,535 $2,539 4.33%
    <20% 115 $18,835,000 $163,783 $3,873 3.19%
    42% 44 $6,300,000 $143,182 $3,331 4.75%
    41% 40 $4,380,000 $109,500 $1,710 4.75%
    37% 40 $4,850,000 $121,250 $2,615 4.57%
    39% 38 $4,290,000 $112,895 $1,956 4.65%
    44% 37 $4,175,000 $112,838 $3,499 4.84%
    43% 36 $3,340,000 $92,778 $1,320 4.60%
    40% 36 $4,110,000 $114,167 $2,457 4.83%
    38% 34 $4,170,000 $122,647 $2,643 5.14%
    36% 20 $2,100,000 $105,000 $1,636 3.96%
    50-60% 8 $3,430,000 $428,750 $4,901 3.32%
    48% 7 $1,495,000 $213,571 $3,123 3.59%
    >60% 5 $1,575,000 $315,000 $2,062 4.10%
    46% 4 $830,000 $207,500 $4,459 2.65%
    45% 3 $375,000 $125,000 $2,871 4.25%
    49% 2 $210,000 $105,000 $1,228 4.25%
    47% 1 $15,000 $15,000 $0 2.49%

    Greenwood lent most frequently to those with DTI ratios of 20-30%, with 206 originations. The next most common DTI ratio? 30-36%, with 202 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 824 $106,720,000 $129,515 $2,781 4.15%
    Not applicable 4 $10,920,000 $2,730,000 $0 4.29%
    Not provided 71 $6,235,000 $87,817 $1,234 5.21%
    Black 18 $4,630,000 $257,222 $3,096 3.79%
    Asian 4 $630,000 $157,500 $1,584 4.21%
    American Indian 4 $560,000 $140,000 $203 5.31%
    Other Pacific Islander 4 $370,000 $92,500 $0 6.00%
    Native Hawaiian or Islander 1 $205,000 $205,000 $3,181 2.75%
    Other Asian 2 $90,000 $45,000 $203 3.74%

    Approval Rates

    Total approvals of all applications
    81.45%

    Greenwood has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.35%

    Greenwood has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 159 $12,825,000 $80,660
    686.25 1 $65,000 $65,000
    693.25 2 $100,000 $50,000
    85.0 3 $285,000 $95,000
    850.0 5 $515,000 $103,000
    862.0 2 $170,000 $85,000
    911.5 4 $580,000 $145,000
    918.25 10 $790,000 $79,000
    935.0 5 $345,000 $69,000
    NA 741 $114,685,000 $154,771

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    932 $130,360,000 $139,871

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 110 $15,420,000 $140,182 $1,967 3.43%
    40-60% 147 $23,185,000 $157,721 $3,447 3.55%
    60-80% 228 $48,870,000 $214,342 $3,282 4.46%
    80-100% 206 $25,590,000 $124,223 $4,397 5.83%
    Over 100% 1 $1,005,000 $1,005,000 $0 4.00%
    Under 20% 192 $10,230,000 $53,281 $513 3.27%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Greentree & Associates Conventional home mortgage Closing on a mortgage 1 100.0%