Worcester Mortgage Rates, Fees & Info
Worcester, MALEI: 549300JH0WD7YX0UUZ21
Tax ID: 04-1990205
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Worcester is a smaller mortgage company specializing in Home Improvement and Refi loans. Worcester has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, and Providence among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Worcester 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.
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Originations
67Origination Dollar Volume (All Markets)
$7,745,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 60 | $6,240,000 | $104,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 5 | $1,295,000 | $259,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 67 | $7,745,000 | $115,597 | $0 | 0.00% |
For 2024, Worcester's most frequently originated type of loan was Conventional, with 67 originations.
Loan Reason
For 2024, Worcester's most frequently cited loan purpose was Home Improvement, with 38 originations. The 2nd most popular reason was Refi, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 67 | $7,745,000 | $115,597 | $0 | 0.00% |
For 2024, Worcester's most frequently cited loan duration was Other, with 67 originations.
Loan Sizing
2024 saw Worcester place emphasis on $100,000 or less loans with 36 originations, totaling $1,730,000 in origination value.
Applicant Income
Worcester lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $150k-250k, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 67 | $7,745,000 | $115,597 | $0 | 0.00% |
Worcester lent most frequently to those with DTI ratios of Exempt%, with 67 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications68.29%
Worcester has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination79.10%
Worcester has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 67 | $7,745,000 | $115,597 |