Conway Financial Services Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300TJCGICP5CDWM63

Tax ID: 81-2244977

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

Jump to:

Mortgage Data

Review & Overview

Conway Financial Services is a smaller mortgage company specializing in Home Purchase loans. Conway Financial Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Conway Financial Services 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. Conway Financial Services 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
30 Year Conventional Purchase 6.54% 3/28/24
30 Year Conventional Refi 6.85% 3/28/24
30 Year Cash-out Refi 6.62% 3/28/24
30 Year FHA Purchase 7.60% 3/28/24
30 Year VA Purchase 6.63% 3/28/24
30 Year USDA Purchase 6.40% 3/28/24
15 Year Conventional Purchase 5.32% 3/28/24
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.

Conway Financial Services Mortgage Calculator






Your Estimates

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

This is not an official calculator from Conway Financial Services. 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

154

Origination Dollar Volume (All Markets)

$44,710,000

Awards

CONWAY FINANCIAL SERVICES FHA Loans silver
Show all (1) 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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 112 $34,320,000 $306,429 $4,264 4.64%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 28 $6,220,000 $222,143 $4,538 4.36%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 10 $3,020,000 $302,000 $4,367 4.19%
WORCESTER, MA-CT (FHA|USDA|VA) 4 $1,150,000 $287,500 $6,187 4.59%
Conway Financial Services's top markets include Boston, Providence, Barnstable Town, and Worcester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Similar Lenders

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

    Westport Federal Credit Union
    Similarity Rank: 23
    PAWTUCKET
    Similarity Rank: 60
    Bank of Easton
    Similarity Rank: 66
    Charter Oak Federal Credit Union
    Similarity Rank: 84
    SOMERSET
    Similarity Rank: 99
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Martha's Vineyard Savings Bank
    Similarity Rank: 128
    Triangle Credit Union
    Similarity Rank: 147

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 119 $34,065,000 $286,261 $3,387 4.51%
    FHA 24 $6,770,000 $282,083 $8,484 4.89%
    VA 7 $2,725,000 $389,286 $5,904 4.48%
    USDA 4 $1,150,000 $287,500 $6,268 4.41%

    For 2018, Conway Financial Services's most frequently originated type of loan was Conventional, with 119 originations. Their 2nd most popular type was FHA, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $44,220,000 $290,921 $4,361 4.55%
    Refi 1 $215,000 $215,000 $6,056 5.25%
    Cash Out Refi 1 $275,000 $275,000 $4,092 4.88%

    For 2018, Conway Financial Services's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 145 $44,385,000 $306,103 $4,583 4.73%
    15 Year 8 $150,000 $18,750 $508 1.41%
    20 Year 1 $175,000 $175,000 $4,464 4.75%

    For 2018, Conway Financial Services's most frequently cited loan duration was 30 Year, with 145 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 124 $35,600,000 $287,097
    $1k-2k 20 $5,360,000 $268,000
    $2k-3k 7 $2,235,000 $319,286
    $3k-4k 2 $1,170,000 $585,000
    $4k-5k 1 $345,000 $345,000

    Conway Financial Services's average total fees were $4,583, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 124 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 121 $35,925,000 $296,901
    5-6% 20 $6,070,000 $303,500
    <2.5% 7 $35,000 $5,000
    3-4% 6 $2,680,000 $446,667

    During 2018, Conway Financial Services's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 4-5%, with 121 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 105 $30,975,000 $295,000 $4,683 4.75%
    $100k-200k 20 $3,190,000 $159,500 $3,626 4.80%
    $400k-600k 16 $7,240,000 $452,500 $5,067 4.62%
    $100,000 or less 9 $205,000 $22,778 $644 1.92%
    $600k-1MM 3 $2,095,000 $698,333 $4,867 4.58%
    $1MM+ 1 $1,005,000 $1,005,000 $7,282 3.25%

    2018 saw Conway Financial Services place emphasis on $200k-400k loans with 105 originations, totaling $30,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 52 $11,060,000 $212,692 $4,050 4.33%
    $75k-100k 45 $13,265,000 $294,778 $4,473 4.65%
    $100k-150k 30 $10,390,000 $346,333 $4,705 4.79%
    $150k-250k 15 $6,515,000 $434,333 $4,724 4.76%
    $50k or less 9 $1,465,000 $162,778 $3,775 4.33%
    $250k+ 3 $2,015,000 $671,667 $5,040 4.63%

    Conway Financial Services lent most frequently to those with incomes in the $50k-75k range, with 52 originations. The second most popular income band? $75k-100k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 28 $8,110,000 $289,643 $3,303 4.41%
    30-36% 19 $5,375,000 $282,895 $3,981 4.74%
    45% 10 $2,640,000 $264,000 $4,307 4.47%
    47% 10 $2,850,000 $285,000 $4,409 4.77%
    41% 10 $3,540,000 $354,000 $4,572 4.19%
    49% 10 $2,460,000 $246,000 $3,738 4.46%
    50-60% 9 $2,605,000 $289,444 $7,870 4.81%
    48% 9 $2,315,000 $257,222 $3,964 4.29%
    42% 8 $1,920,000 $240,000 $3,954 4.17%
    44% 6 $1,650,000 $275,000 $4,964 4.85%
    39% 6 $1,450,000 $241,667 $3,261 4.92%
    38% 6 $1,640,000 $273,333 $4,695 4.60%
    36% 5 $1,755,000 $351,000 $5,480 4.66%
    40% 4 $1,500,000 $375,000 $6,614 4.66%
    37% 4 $1,170,000 $292,500 $4,529 4.68%
    43% 4 $1,060,000 $265,000 $5,551 4.94%
    46% 3 $925,000 $308,333 $3,635 4.73%
    <20% 3 $1,745,000 $581,667 $4,633 4.63%

    Conway Financial Services lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $41,915,000 $293,112 $4,253 4.55%
    Not provided 6 $1,480,000 $246,667 $4,963 4.76%
    Black 4 $1,140,000 $285,000 $7,655 4.66%
    Asian 1 $175,000 $175,000 $4,464 4.75%

    Approval Rates

    Total approvals of all applications
    95.08%

    Conway Financial Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.01%

    Conway Financial Services has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 154 $44,710,000 $290,325

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 154 $44,710,000 $290,325

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $650,000 $162,500 $3,505 4.42%
    40-60% 7 $1,865,000 $266,429 $3,813 4.58%
    60-80% 35 $9,935,000 $283,857 $3,745 4.74%
    80-100% 99 $31,535,000 $318,535 $4,878 4.75%
    Over 100% 2 $690,000 $345,000 $9,111 4.88%
    Under 20% 7 $35,000 $5,000 $12 1.00%