Greenwood Mortgage Rates, Fees & Info
Warwick, RILEI: 549300JD1162QW84ZO34
Tax ID: 05-0254228
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.63% | 4/14/24 |
| 30 Year Conventional Purchase | 6.62% | 4/14/24 |
| 30 Year Conventional Refi | 6.43% | 4/14/24 |
| 30 Year Cash-out Refi | 6.73% | 4/14/24 |
| 15 Year Conventional Purchase | 5.89% | 4/14/24 |
| 15 Year Conventional Refi | 5.67% | 4/14/24 |
| 15 Year Cash-out Refi | 5.67% | 4/14/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
672Origination Dollar Volume (All Markets)
$77,510,000Awards
GREENWOOD - 2023
GREENWOOD is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 32
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Similarity Rank: 50
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Similarity Rank: 124
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Similarity Rank: 136
Similarity Rank: 168
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
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
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
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
2023 saw Greenwood place emphasis on $100,000 or less loans with 427 originations, totaling $23,315,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications62.04%
Greenwood has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination75.30%
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 |