Greenwood Mortgage Rates, Fees & Info

Warwick, RI

LEI: 549300JD1162QW84ZO34

Tax ID: 05-0254228

5 stars - Updated: 3/3/24 - out of 5 stars, based on 31 reviews

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

Jump to:

Mortgage Data

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, Phoenix, Boston, Salisbury, and New York among others. We have data for 84 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 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) 5.63% 3/3/24
30 Year Conventional Purchase 6.62% 3/3/24
30 Year Conventional Refi 6.43% 3/3/24
30 Year Cash-out Refi 6.73% 3/3/24
15 Year Conventional Purchase 5.89% 3/3/24
15 Year Conventional Refi 5.67% 3/3/24
15 Year Cash-out Refi 5.67% 3/3/24
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

938

Origination Dollar Volume (All Markets)

$113,790,000

Relative Rate

Greenwood's average 30 year fixed mortgage rate was 4.88%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.12%.

Relative Fees (Closing Costs)

Greenwood's average total fees/closing costs for a 30 year fixed rate mortgage were $3,813.

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) 426 $63,280,000 $148,545 $1,875 4.46%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 83 $8,075,000 $97,289 $0 6.15%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 38 $5,060,000 $133,158 $3,600 5.80%
SALISBURY, MD-DE (FHA|USDA|VA) 30 $4,460,000 $148,667 $0 6.29%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 30 $2,900,000 $96,667 $0 6.64%
WORCESTER, MA-CT (FHA|USDA|VA) 17 $1,895,000 $111,471 $2,025 5.93%
READING, PA (FHA|USDA|VA) 10 $1,830,000 $183,000 $0 5.42%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 28 $1,820,000 $65,000 $0 6.44%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 13 $1,405,000 $108,077 $0 6.38%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 13 $1,295,000 $99,615 $0 6.85%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 14 $1,290,000 $92,143 $0 5.12%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 15 $1,165,000 $77,667 $0 6.39%
SPRINGFIELD, MA (FHA|USDA|VA) 11 $1,045,000 $95,000 $564 5.51%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 14 $930,000 $66,429 $0 6.16%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 12 $920,000 $76,667 $0 5.82%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 7 $845,000 $120,714 $3,297 6.25%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 6 $700,000 $116,667 $0 6.44%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $685,000 $137,000 $1,893 5.98%
Key West, FL (FHA|USDA|VA) 2 $660,000 $330,000 $0 5.37%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 10 $650,000 $65,000 $0 6.91%
Outside of Metro Areas 8 $630,000 $78,750 $0 6.88%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 5 $625,000 $125,000 $0 6.90%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 5 $615,000 $123,000 $0 5.75%
DOVER, DE (FHA|USDA|VA) 5 $615,000 $123,000 $0 7.15%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $560,000 $93,333 $0 6.14%
TUCSON, AZ (FHA|USDA|VA) 7 $555,000 $79,286 $0 6.48%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $515,000 $103,000 $0 5.69%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 8 $510,000 $63,750 $0 7.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $505,000 $168,333 $0 5.41%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $470,000 $235,000 $0 5.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 6 $440,000 $73,333 $0 6.92%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 4 $370,000 $92,500 $0 5.94%
YUMA, AZ (FHA|USDA|VA) 4 $360,000 $90,000 $0 5.56%
WILMINGTON, NC (FHA|USDA|VA) 4 $350,000 $87,500 $0 5.18%
MONROE, MI (FHA|USDA|VA) 7 $345,000 $49,286 $0 7.27%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 5 $325,000 $65,000 $0 6.73%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $310,000 $77,500 $0 6.94%
Concord, NH (FHA|USDA|VA) 3 $305,000 $101,667 $0 6.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $290,000 $145,000 $0 6.75%
UTICA-ROME, NY (FHA|USDA|VA) 2 $280,000 $140,000 $0 6.00%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 3 $275,000 $91,667 $0 7.08%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 3 $225,000 $75,000 $0 6.17%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.75%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $185,000 $61,667 $0 6.50%
PITTSFIELD, MA (FHA|USDA|VA) 2 $160,000 $80,000 $0 6.59%
PITTSBURGH, PA (FHA|USDA|VA) 2 $150,000 $75,000 $0 7.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $140,000 $70,000 $0 6.62%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $135,000 $45,000 $0 5.62%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $130,000 $65,000 $0 6.12%
ANN ARBOR, MI (FHA|USDA|VA) 2 $130,000 $65,000 $0 6.50%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $130,000 $65,000 $0 5.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.50%
Keene, NH (FHA|USDA|VA) 2 $120,000 $60,000 $0 6.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.25%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.00%
BEND, OR (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.75%
Hudson, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.50%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.00%
MEDFORD, OR (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.75%
OCALA, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.49%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.75%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.00%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.25%
AKRON, OH (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.25%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.00%
Roseburg, OR (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.25%
Astoria, OR (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.50%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.00%
Adrian, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.75%
THE VILLAGES, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.49%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.25%
Bennington, VT (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.00%
Oneonta, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.13%
Lebanon, NH-VT (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.50%
KINGSTON, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.88%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.75%
GLENS FALLS, NY (FHA|USDA|VA) 1 $25,000 $25,000 $0 9.13%
Torrington, CT (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.49%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.75%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.75%
Greenwood's top markets include Providence, Phoenix, Boston, Salisbury, and New York among others.

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

    Homestar Mortgage, Inc.
    Similarity Rank: 52
    SOMERSET
    Similarity Rank: 87
    Bridgewater Savings Bank
    Similarity Rank: 192
    North Easton Savings Bank
    Similarity Rank: 276
    OCEAN STATE CREDIT UNION
    Similarity Rank: 360
    Rhode Island Credit Union
    Similarity Rank: 393
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396
    Bristol County Savings Bank
    Similarity Rank: 410
    Dedham Institution for Savings
    Similarity Rank: 444

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 706 $88,220,000 $124,958 $1,906 6.03%
    HELOC 232 $25,570,000 $110,216 n/a 3.63%

    For 2022, Greenwood's most frequently originated type of loan was Conventional, with 706 originations. Their 2nd most popular type was HELOC, with 232 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 494 $61,480,000 $124,453 $4,227 6.27%
    Cash Out Refi 204 $26,940,000 $132,059 $1,465 4.48%
    Home Improvement 183 $15,655,000 $85,546 $108 4.48%
    Refi 52 $9,380,000 $180,385 $2,682 4.69%
    Other 5 $335,000 $67,000 $0 4.94%

    For 2022, Greenwood's most frequently cited loan purpose was Home Purchase, with 494 originations. The 2nd most popular reason was Cash Out Refi, with 204 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 626 $62,880,000 $100,447 $1,905 5.34%
    15 Year 118 $9,160,000 $77,627 $852 5.94%
    Other 74 $13,470,000 $182,027 $203 6.03%
    30 Year 60 $18,870,000 $314,500 $3,813 4.88%
    10 Year 48 $9,080,000 $189,167 $102 5.50%
    5 Year 12 $330,000 $27,500 $133 4.20%

    For 2022, Greenwood's most frequently cited loan duration was 20 Year, with 626 originations. The 2nd most popular length was 15 Year, with 118 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 175 $26,775,000 $153,000
    $5k+ 4 $1,620,000 $405,000

    Greenwood's average total fees were $3,813, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 175 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 265 $30,355,000 $114,547
    5-6% 205 $30,635,000 $149,439
    4-5% 128 $14,440,000 $112,813
    3-4% 96 $15,530,000 $161,771
    7-8% 87 $7,275,000 $83,621
    2.5-3% 80 $7,640,000 $95,500
    <2.5% 47 $5,435,000 $115,638
    Over 8% 30 $2,480,000 $82,667

    During 2022, Greenwood's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 6-7%, with 265 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 550 $32,000,000 $58,182 $306 5.53%
    $100k-200k 257 $34,125,000 $132,782 $2,183 5.59%
    $200k-400k 103 $27,865,000 $270,534 $3,504 4.71%
    $400k-600k 19 $8,835,000 $465,000 $4,234 4.64%
    $600k-1MM 5 $3,665,000 $733,000 $11,480 5.65%
    $1MM+ 4 $7,300,000 $1,825,000 $3,834 5.65%

    2022 saw Greenwood place emphasis on $100,000 or less loans with 550 originations, totaling $32,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 242 $20,990,000 $86,736 $1,673 5.69%
    $75k-100k 176 $18,020,000 $102,386 $1,253 5.52%
    $100k-150k 159 $19,665,000 $123,679 $1,690 5.31%
    $50k or less 158 $9,950,000 $62,975 $772 5.92%
    $150k-250k 103 $16,795,000 $163,058 $2,209 4.55%
    $250k+ 40 $10,080,000 $252,000 $4,978 4.64%

    Greenwood lent most frequently to those with incomes in the $50k-75k range, with 242 originations. The second most popular income band? $75k-100k, with 176 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 180 $18,070,000 $100,389 $1,965 5.55%
    20-30% 178 $18,450,000 $103,652 $1,672 4.97%
    <20% 55 $6,235,000 $113,364 $1,187 4.31%
    42% 49 $4,355,000 $88,878 $1,013 5.39%
    41% 44 $3,890,000 $88,409 $359 6.30%
    43% 42 $4,510,000 $107,381 $965 5.45%
    39% 39 $4,035,000 $103,462 $2,370 5.39%
    44% 38 $3,980,000 $104,737 $1,538 5.47%
    40% 34 $3,810,000 $112,059 $203 6.16%
    37% 31 $3,015,000 $97,258 $2,213 5.84%
    36% 27 $3,175,000 $117,593 $3,436 6.05%
    38% 27 $3,445,000 $127,593 $2,133 5.54%
    50-60% 9 $1,025,000 $113,889 $2,981 6.04%
    >60% 7 $805,000 $115,000 $0 7.59%
    45% 7 $505,000 $72,143 $0 5.10%
    49% 5 $975,000 $195,000 $3,608 4.55%
    47% 5 $765,000 $153,000 $2,652 4.35%
    46% 3 $295,000 $98,333 $0 6.92%
    48% 1 $95,000 $95,000 $0 4.99%

    Greenwood lent most frequently to those with DTI ratios of 30-36%, with 180 originations. The next most common DTI ratio? 20-30%, with 178 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 797 $89,095,000 $111,788 $1,933 5.38%
    Not applicable 15 $11,615,000 $774,333 $3,555 6.15%
    Not provided 97 $9,855,000 $101,598 $1,130 5.71%
    Black 14 $1,440,000 $102,857 $2,672 5.93%
    Asian 8 $1,130,000 $141,250 $0 5.36%
    Other Pacific Islander 2 $220,000 $110,000 $0 3.87%
    Filipino 1 $205,000 $205,000 $0 5.75%
    American Indian 3 $125,000 $41,667 $378 6.75%
    Other Asian 1 $105,000 $105,000 $0 6.88%

    Approval Rates

    Total approvals of all applications
    69.12%

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

    Pick Rate

    Approvals leading to origination
    79.96%

    Greenwood has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 43 $3,675,000 $85,465
    1020.5 14 $1,300,000 $92,857
    1027.75 18 $1,340,000 $74,444
    1028.75 1 $55,000 $55,000
    1035.5 14 $1,240,000 $88,571
    1042.75 24 $2,030,000 $84,583
    1045.0 34 $3,230,000 $95,000
    1610.0 1 $105,000 $105,000
    195.0 2 $260,000 $130,000
    2072.12 1 $135,000 $135,000
    618.87 1 $95,000 $95,000
    676.7 1 $45,000 $45,000
    685.5 4 $280,000 $70,000
    686.5 2 $130,000 $65,000
    692.75 22 $1,340,000 $60,909
    693.25 3 $105,000 $35,000
    700.5 3 $135,000 $45,000
    707.75 19 $1,145,000 $60,263
    790.0 1 $65,000 $65,000
    795.5 2 $230,000 $115,000
    802.75 3 $165,000 $55,000
    810.5 1 $35,000 $35,000
    850.0 8 $960,000 $120,000
    862.0 1 $55,000 $55,000
    900.0 1 $35,000 $35,000
    905.0 1 $135,000 $135,000
    910.5 28 $2,580,000 $92,143
    911.5 3 $295,000 $98,333
    917.7 1 $35,000 $35,000
    917.75 33 $2,425,000 $73,485
    918.0 1 $115,000 $115,000
    918.2 1 $65,000 $65,000
    918.25 2 $110,000 $55,000
    925.5 8 $820,000 $102,500
    932.75 15 $1,215,000 $81,000
    935.0 29 $3,495,000 $120,517
    960.0 5 $455,000 $91,000
    972.0 1 $195,000 $195,000
    NA 586 $83,660,000 $142,765

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    938 $113,790,000 $121,311

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 115 $12,285,000 $106,826 $731 4.46%
    40-60% 112 $13,950,000 $124,554 $2,533 5.00%
    60-80% 193 $29,695,000 $153,860 $3,531 6.03%
    80-100% 233 $28,155,000 $120,837 $4,837 6.60%
    Over 100% 3 $3,205,000 $1,068,333 $0 5.70%
    Under 20% 157 $8,145,000 $51,879 $133 4.05%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    GUARANTEED RATE INC. Conventional home mortgage Trouble during payment process 1 50.0%
    GUARANTEED RATE INC. FHA mortgage Trouble during payment process 1 50.0%