Washington Trust Mortgage Company Rates, Fees & Info
WARWICK, RILEI: 549300L0OVX5O63S8C68
Tax ID: 45-4889921
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Mortgage Data
Review & Overview
Washington Trust Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Washington Trust Mortgage Company has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, Hartford, and Barnstable Town among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Washington Trust Mortgage Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Washington Trust Mortgage Company is typically an average 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 |
---|---|---|
30 Year Conventional Purchase | 5.94% | 12/3/24 |
30 Year Conventional Refi | 6.22% | 12/3/24 |
30 Year Cash-out Refi | 6.38% | 12/3/24 |
15 Year Conventional Purchase | 5.02% | 12/3/24 |
15 Year Conventional Refi | 5.91% | 12/3/24 |
15 Year Cash-out Refi | 5.91% | 12/3/24 |
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. |
Washington Trust Mortgage Company Mortgage Calculator
Your Estimates
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This is not an official calculator from Washington Trust Mortgage Company. 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
895Origination Dollar Volume (All Markets)
$563,295,000WASHINGTON TRUST MORTGAGE COMPANY - 2023
WASHINGTON TRUST MORTGAGE COMPANY is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Washington Trust Mortgage Company's average 30 year fixed mortgage rate was
6.29%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.19%.
Relative Fees (Closing Costs)
Washington Trust Mortgage Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,426.
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 |
---|---|---|---|---|---|
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 629 | $445,125,000 | $707,671 | $5,700 | 6.22% |
WORCESTER, MA-CT (FHA|USDA|VA) | 57 | $27,065,000 | $474,825 | $4,645 | 6.38% |
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 63 | $26,325,000 | $417,857 | $4,636 | 6.51% |
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 63 | $23,015,000 | $365,317 | $4,704 | 6.35% |
BARNSTABLE TOWN, MA (FHA|USDA|VA) | 14 | $7,830,000 | $559,286 | $4,700 | 6.31% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 10 | $7,200,000 | $720,000 | $6,425 | 6.16% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 13 | $7,045,000 | $541,923 | $6,202 | 6.12% |
MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 10 | $4,080,000 | $408,000 | $4,181 | 6.90% |
Outside of Metro Areas | 5 | $4,075,000 | $815,000 | $5,619 | 7.37% |
SPRINGFIELD, MA (FHA|USDA|VA) | 8 | $3,290,000 | $411,250 | $3,966 | 6.09% |
NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 11 | $3,005,000 | $273,182 | $4,273 | 6.09% |
Laconia, NH (FHA|USDA|VA) | 3 | $1,445,000 | $481,667 | $3,960 | 5.92% |
Lebanon, NH-VT (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $3,930 | 6.88% |
Vineyard Haven, MA (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $5,425 | 6.13% |
Concord, NH (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $4,317 | 6.00% |
Torrington, CT (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,052 | 6.50% |
PITTSFIELD, MA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $4,619 | 6.81% |
Berlin, NH (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,467 | 5.38% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against WASHINGTON TRUST MORTGAGE COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 895 | $563,295,000 | $629,380 | $5,417 | 6.27% |
For 2023, Washington Trust Mortgage Company's most frequently originated type of loan was Conventional, with 895 originations.
Loan Reason
For 2023, Washington Trust Mortgage Company's most frequently cited loan purpose was Home Purchase, with 839 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
For 2023, Washington Trust Mortgage Company's most frequently cited loan duration was 30 Year, with 866 originations. The 2nd most popular length was 15 Year, with 20 originations.
Origination Fees/Closing Costs
Washington Trust Mortgage Company's average total fees were $5,426, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 678 originations.
Interest Rates
During 2023, Washington Trust Mortgage Company's average interest rate for loans was 6.29%, while their most frequently originated rate bucket for loans was 6-7%, with 376 originations.
Loan Sizing
2023 saw Washington Trust Mortgage Company place emphasis on $600k-1MM loans with 279 originations, totaling $211,425,000 in origination value.
Applicant Income
Washington Trust Mortgage Company lent most frequently to those with incomes in the $250k+ range, with 383 originations. The second most popular income band? $150k-250k, with 245 originations.
Applicant Debt to Income Ratio
Washington Trust Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 216 originations. The next most common DTI ratio? 20-30%, with 191 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.13%
Washington Trust Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination72.51%
Washington Trust Mortgage Company has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 895 | $563,295,000 | $629,380 |