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:

  • 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

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.54% 11/23/24
    30 Year Conventional Refi 6.85% 11/23/24
    30 Year Cash-out Refi 6.62% 11/23/24
    30 Year FHA Purchase 7.60% 11/23/24
    30 Year VA Purchase 6.63% 11/23/24
    30 Year USDA Purchase 6.40% 11/23/24
    15 Year Conventional Purchase 5.32% 11/23/24
    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

    244

    Origination Dollar Volume (All Markets)

    $75,670,000

    Awards

    CONWAY FINANCIAL SERVICES FHA Loans bronze
    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) 173 $56,695,000 $327,717 $4,298 4.04%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 60 $15,610,000 $260,167 $3,992 4.13%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $2,400,000 $300,000 $3,870 3.68%
    WORCESTER, MA-CT (FHA|USDA|VA) 3 $965,000 $321,667 $3,312 4.67%
    Conway Financial Services's top markets include Boston, Providence, Barnstable Town, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (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.

    SOMERSET
    Similarity Rank: 26
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 80
    Rhode Island Credit Union
    Similarity Rank: 116
    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    LEOMINSTER CREDIT UNION
    Similarity Rank: 180
    Charter Oak Federal Credit Union
    Similarity Rank: 294
    BankNewport
    Similarity Rank: 315
    OCEAN STATE CREDIT UNION
    Similarity Rank: 315
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 348

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 206 $63,340,000 $307,476 $3,303 4.03%
    FHA 25 $7,695,000 $307,800 $8,901 4.30%
    VA 11 $3,995,000 $363,182 $9,803 4.02%
    USDA 2 $640,000 $320,000 $6,585 4.19%

    For 2019, Conway Financial Services's most frequently originated type of loan was Conventional, with 206 originations. Their 2nd most popular type was FHA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 203 $62,685,000 $308,793 $4,498 4.09%
    Refi 29 $10,415,000 $359,138 $2,819 3.73%
    Cash Out Refi 9 $2,545,000 $282,778 $3,233 4.19%
    Other 3 $25,000 $8,333 $0 4.96%

    For 2019, Conway Financial Services's most frequently cited loan purpose was Home Purchase, with 203 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 222 $72,450,000 $326,351 $4,445 4.21%
    15 Year 17 $2,275,000 $133,824 $1,297 2.10%
    20 Year 3 $565,000 $188,333 $2,882 3.92%
    10 Year 2 $380,000 $190,000 $3,179 3.94%

    For 2019, Conway Financial Services's most frequently cited loan duration was 30 Year, with 222 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 224 $69,210,000 $308,973
    $1k-2k 12 $3,610,000 $300,833
    $2k-3k 3 $815,000 $271,667
    $3k-4k 3 $1,395,000 $465,000
    $4k-5k 2 $640,000 $320,000

    Conway Financial Services's average total fees were $4,445, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 224 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 122 $41,750,000 $342,213
    4-5% 90 $28,840,000 $320,444
    5-6% 19 $4,085,000 $215,000
    <2.5% 10 $80,000 $8,000
    2.5-3% 1 $345,000 $345,000
    6-7% 1 $225,000 $225,000
    7-8% 1 $345,000 $345,000

    During 2019, Conway Financial Services's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 3-4%, with 122 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 149 $46,045,000 $309,027 $4,471 4.20%
    $400k-600k 46 $21,080,000 $458,261 $5,002 4.03%
    $100k-200k 27 $4,385,000 $162,407 $3,392 4.33%
    $100,000 or less 16 $280,000 $17,500 $522 2.36%
    $600k-1MM 6 $3,880,000 $646,667 $4,627 3.98%

    2019 saw Conway Financial Services place emphasis on $200k-400k loans with 149 originations, totaling $46,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 67 $22,625,000 $337,687 $4,516 4.07%
    $50k-75k 56 $13,070,000 $233,393 $4,110 3.91%
    $75k-100k 52 $14,910,000 $286,731 $4,330 4.11%
    $150k-250k 42 $17,010,000 $405,000 $3,887 4.08%
    $50k or less 15 $2,685,000 $179,000 $3,204 4.01%
    $250k+ 12 $5,370,000 $447,500 $4,562 4.42%

    Conway Financial Services lent most frequently to those with incomes in the $100k-150k range, with 67 originations. The second most popular income band? $50k-75k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 44 $12,930,000 $293,864 $3,791 4.23%
    20-30% 43 $14,705,000 $341,977 $3,763 3.91%
    <20% 20 $5,440,000 $272,000 $3,045 4.01%
    44% 15 $4,565,000 $304,333 $3,856 4.19%
    49% 13 $3,745,000 $288,077 $3,954 4.26%
    50-60% 12 $3,670,000 $305,833 $9,975 4.19%
    43% 12 $2,880,000 $240,000 $2,909 3.74%
    46% 11 $3,675,000 $334,091 $4,794 4.27%
    40% 11 $3,775,000 $343,182 $4,452 3.82%
    39% 9 $2,895,000 $321,667 $4,349 4.00%
    45% 9 $2,625,000 $291,667 $5,288 4.15%
    41% 8 $2,800,000 $350,000 $4,155 4.03%
    37% 8 $2,460,000 $307,500 $3,098 3.77%
    38% 7 $2,135,000 $305,000 $4,980 4.12%
    42% 6 $2,090,000 $348,333 $4,112 3.90%
    48% 5 $1,705,000 $341,000 $3,619 3.80%
    47% 5 $1,405,000 $281,000 $4,177 4.60%
    36% 5 $1,915,000 $383,000 $5,009 3.90%
    >60% 1 $255,000 $255,000 $555 3.75%

    Conway Financial Services lent most frequently to those with DTI ratios of 30-36%, with 44 originations. The next most common DTI ratio? 20-30%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 207 $62,765,000 $303,213 $4,171 4.07%
    Not provided 17 $6,475,000 $380,882 $3,567 3.86%
    Black 13 $3,945,000 $303,462 $5,839 4.11%
    Asian 7 $2,485,000 $355,000 $3,432 4.00%

    Approval Rates

    Total approvals of all applications
    95.60%

    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
    67.21%

    Conway Financial Services has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 244 $75,670,000 $310,123

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 244 $75,670,000 $310,123

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,105,000 $157,857 $3,071 3.77%
    40-60% 17 $4,785,000 $281,471 $3,287 4.00%
    60-80% 60 $21,360,000 $356,000 $3,470 4.07%
    80-100% 132 $42,850,000 $324,621 $4,693 4.28%
    Over 100% 7 $2,605,000 $372,143 $12,282 4.13%
    Under 20% 14 $140,000 $10,000 $206 2.13%