Greenwood Mortgage Rates, Fees & Info

Warwick, RI

LEI: 549300JD1162QW84ZO34

Tax ID: 05-0254228

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

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	5.63%	12/16/24
30 Year Conventional Purchase	6.62%	12/16/24
30 Year Conventional Refi	6.43%	12/16/24
30 Year Cash-out Refi	6.73%	12/16/24
15 Year Conventional Purchase	5.89%	12/16/24
15 Year Conventional Refi	5.67%	12/16/24
15 Year Cash-out Refi	5.67%	12/16/24
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

Purchase Price:

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% Deposit:

Interest Rate:

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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

932

Origination Dollar Volume (All Markets)

$130,360,000

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%