Liberty Bank Mortgage Rates, Fees & Info

Middletown, CT

LEI: 549300KWXO8FUM7L0E14

Tax ID: 06-0452570

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Liberty Bank is a small bank specializing in Home Purchase and Refi loans. Liberty Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Hartford, New Haven, Philadelphia, Bridgeport, and Rochester among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Liberty Bank 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. Liberty Bank 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) 3.21% 12/2/24
    30 Year Conventional Purchase 5.97% 12/2/24
    30 Year Conventional Refi 6.10% 12/2/24
    30 Year Cash-out Refi 6.04% 12/2/24
    30 Year FHA Purchase 7.03% 12/2/24
    30 Year VA Purchase 6.23% 12/2/24
    30 Year USDA Purchase 6.69% 12/2/24
    15 Year Conventional Purchase 5.80% 12/2/24
    15 Year Conventional Refi 5.74% 12/2/24
    15 Year Cash-out Refi 5.74% 12/2/24
    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.

    Liberty Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Liberty Bank. 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

    2,582

    Origination Dollar Volume (All Markets)

    $1,423,330,000
    Show all (13) awards

    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
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1,540 $464,970,000 $301,929 $2,735 3.48%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 520 $302,610,000 $581,942 $2,996 3.59%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $175,415,000 $58,471,667 $0 4.33%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 112 $123,250,000 $1,100,446 $3,069 3.51%
    ROCHESTER, NY (FHA|USDA|VA) 3 $83,235,000 $27,745,000 $0 3.78%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $81,260,000 $40,630,000 $0 3.80%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 3 $53,795,000 $17,931,667 $0 3.32%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $48,005,000 $48,005,000 $0 3.25%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 264 $44,130,000 $167,159 $2,511 3.43%
    Outside of Metro Areas 1 $21,005,000 $21,005,000 $0 5.75%
    WORCESTER, MA-CT (FHA|USDA|VA) 67 $10,315,000 $153,955 $2,735 3.55%
    Torrington, CT (FHA|USDA|VA) 39 $6,285,000 $161,154 $2,025 3.62%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 5 $2,535,000 $507,000 $5,607 3.20%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 7 $2,515,000 $359,286 $5,021 3.50%
    SPRINGFIELD, MA (FHA|USDA|VA) 9 $1,785,000 $198,333 $1,172 4.29%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $1,710,000 $427,500 $3,682 3.47%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $405,000 $405,000 $3,487 2.75%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.50%
    Liberty Bank's top markets include Hartford, New Haven, Philadelphia, Bridgeport, and Rochester among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Liberty Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HOMEFIELD
    Similarity Rank: 72
    Freedom Credit Union
    Similarity Rank: 102
    SCIENT Federal Credit Union
    Similarity Rank: 104
    Charter Oak Federal Credit Union
    Similarity Rank: 119
    Middlesex Savings Bank
    Similarity Rank: 120
    IC Federal Credit Union
    Similarity Rank: 144
    Ridgewood Savings Bank
    Similarity Rank: 146
    UniBank for Savings
    Similarity Rank: 195
    POLISH NATIONAL
    Similarity Rank: 200
    Chelsea Groton Bank
    Similarity Rank: 203

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,461 $1,254,645,000 $858,758 $2,749 3.93%
    HELOC 1,110 $166,390,000 $149,901 n/a 2.93%
    FHA 9 $1,765,000 $196,111 $6,849 4.78%
    VA 1 $225,000 $225,000 $10,364 5.00%
    USDA 1 $305,000 $305,000 $7,173 3.13%

    For 2022, Liberty Bank's most frequently originated type of loan was Conventional, with 1,461 originations. Their 2nd most popular type was HELOC, with 1,110 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 760 $515,820,000 $678,711 $3,996 4.06%
    Home Improvement 711 $253,125,000 $356,013 $326 3.24%
    Refi 502 $545,290,000 $1,086,235 $1,821 3.19%
    Other 407 $54,955,000 $135,025 $701 3.30%
    Cash Out Refi 202 $54,140,000 $268,020 $3,173 3.52%

    For 2022, Liberty Bank's most frequently cited loan purpose was Home Purchase, with 760 originations. The 2nd most popular reason was Home Improvement, with 711 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,013 $429,465,000 $213,346 $3,728 3.42%
    15 Year 193 $31,865,000 $165,104 $1,796 3.59%
    10 Year 151 $363,975,000 $2,410,430 $58 3.78%
    20 Year 79 $12,005,000 $151,962 $1,102 4.53%
    5 Year 75 $258,895,000 $3,451,933 $0 3.74%
    30+ year 54 $34,530,000 $639,444 $4,984 3.73%
    Other 14 $206,680,000 $14,762,857 $3,777 3.69%
    3 Year 3 $85,915,000 $28,638,333 $0 5.45%

    For 2022, Liberty Bank's most frequently cited loan duration was 30 Year, with 2,013 originations. The 2nd most popular length was 15 Year, with 193 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,104 $265,480,000 $240,471
    $1k-2k 107 $29,895,000 $279,393
    $2k-3k 34 $10,330,000 $303,824
    $3k-4k 23 $10,035,000 $436,304
    $5k+ 16 $6,730,000 $420,625
    $4k-5k 10 $3,250,000 $325,000

    Liberty Bank's average total fees were $3,728, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,104 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 655 $720,105,000 $1,099,397
    <2.5% 639 $106,465,000 $166,612
    2.5-3% 619 $138,045,000 $223,013
    4-5% 430 $308,140,000 $716,605
    5-6% 198 $65,250,000 $329,545
    6-7% 36 $25,390,000 $705,278
    7-8% 1 $25,000 $25,000
    Over 8% 1 $15,000 $15,000

    During 2022, Liberty Bank's average interest rate for loans was 3.42%, while their most frequently originated rate bucket for loans was 3-4%, with 655 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 775 $42,565,000 $54,923 $273 3.46%
    $200k-400k 766 $207,410,000 $270,770 $3,538 3.61%
    $100k-200k 714 $102,440,000 $143,473 $2,549 3.41%
    $400k-600k 196 $92,980,000 $474,388 $4,534 3.44%
    $600k-1MM 83 $59,435,000 $716,084 $5,033 3.65%
    $1MM+ 48 $918,500,000 $19,135,417 $6,287 3.85%

    2022 saw Liberty Bank place emphasis on $100,000 or less loans with 775 originations, totaling $42,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 629 $115,485,000 $183,601 $2,542 3.45%
    $150k-250k 595 $143,195,000 $240,664 $2,925 3.44%
    $75k-100k 418 $64,750,000 $154,904 $2,518 3.57%
    $50k-75k 396 $54,550,000 $137,753 $2,589 3.63%
    $250k+ 321 $122,895,000 $382,850 $3,917 3.41%
    $50k or less 156 $15,700,000 $100,641 $2,576 3.61%

    Liberty Bank lent most frequently to those with incomes in the $100k-150k range, with 629 originations. The second most popular income band? $150k-250k, with 595 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 665 $138,175,000 $207,782 $2,718 3.47%
    30-36% 520 $108,110,000 $207,904 $2,861 3.54%
    <20% 272 $57,120,000 $210,000 $2,627 3.33%
    44% 145 $25,955,000 $179,000 $2,726 3.22%
    42% 135 $27,095,000 $200,704 $2,465 3.77%
    41% 123 $20,975,000 $170,528 $2,257 3.49%
    37% 108 $23,890,000 $221,204 $2,585 3.57%
    39% 107 $21,415,000 $200,140 $2,624 3.44%
    40% 103 $21,575,000 $209,466 $2,933 3.58%
    36% 93 $21,115,000 $227,043 $3,120 3.64%
    38% 88 $17,940,000 $203,864 $2,868 3.48%
    43% 63 $10,745,000 $170,556 $3,062 3.45%
    45% 34 $6,590,000 $193,824 $4,335 3.67%
    46% 23 $7,575,000 $329,348 $3,863 3.77%
    49% 23 $4,335,000 $188,478 $3,242 3.56%
    47% 17 $3,295,000 $193,824 $3,421 3.76%
    48% 17 $3,505,000 $206,176 $3,792 3.55%
    50-60% 7 $1,435,000 $205,000 $5,332 3.96%
    >60% 1 $255,000 $255,000 $0 2.99%

    Liberty Bank lent most frequently to those with DTI ratios of 20-30%, with 665 originations. The next most common DTI ratio? 30-36%, with 520 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 38 $902,230,000 $23,742,895 $0 4.11%
    White 2,171 $437,275,000 $201,416 $2,722 3.47%
    Not provided 176 $38,170,000 $216,875 $2,956 3.60%
    Asian 83 $26,665,000 $321,265 $3,694 3.57%
    Black 87 $15,375,000 $176,724 $3,002 3.92%
    Asian Indian 6 $1,080,000 $180,000 $2,559 3.16%
    American Indian 9 $845,000 $93,889 $2,086 3.34%
    Native Hawaiian or Islander 5 $565,000 $113,000 $2,222 4.35%
    3 $515,000 $171,667 $1,440 3.83%
    Chinese 1 $245,000 $245,000 $2,786 4.63%
    Other Pacific Islander 1 $185,000 $185,000 $2,506 2.50%
    Other Asian 2 $180,000 $90,000 $2,500 2.81%

    Approval Rates

    Total approvals of all applications
    87.52%

    Liberty Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.90%

    Liberty Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,582 $1,423,330,000 $551,251

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,582 $1,423,330,000 $551,251

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 523 $71,425,000 $136,568 $1,129 3.09%
    40-60% 365 $309,165,000 $847,027 $2,833 3.20%
    60-80% 597 $648,445,000 $1,086,173 $3,704 3.73%
    80-100% 482 $357,570,000 $741,846 $4,000 3.93%
    Over 100% 2 $510,000 $255,000 $4,503 4.13%
    Under 20% 613 $36,215,000 $59,078 $105 3.49%