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 and Refi 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, Worcester, and Springfield among others. We have data for 5 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% 11/21/24
    30 Year Conventional Refi 6.85% 11/21/24
    30 Year Cash-out Refi 6.62% 11/21/24
    30 Year FHA Purchase 7.60% 11/21/24
    30 Year VA Purchase 6.63% 11/21/24
    30 Year USDA Purchase 6.40% 11/21/24
    15 Year Conventional Purchase 5.32% 11/21/24
    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

    395

    Origination Dollar Volume (All Markets)

    $131,755,000

    Awards

    CONWAY FINANCIAL SERVICES VA Loans gold CONWAY FINANCIAL SERVICES VA Loans silver
    Show all (2) 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) 273 $95,265,000 $348,956 $3,749 3.12%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 83 $25,015,000 $301,386 $3,764 3.14%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 25 $7,125,000 $285,000 $3,230 3.15%
    WORCESTER, MA-CT (FHA|USDA|VA) 13 $4,205,000 $323,462 $4,239 3.23%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $145,000 $145,000 $2,450 3.13%
    Conway Financial Services's top markets include Boston, Providence, Barnstable Town, Worcester, and Springfield 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.

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Triangle Credit Union
    Similarity Rank: 696
    CorePlus Federal Credit Union
    Similarity Rank: 710
    NEW HAMPSHIRE
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 357 $118,765,000 $332,675 $3,311 3.12%
    FHA 23 $7,845,000 $341,087 $9,910 3.42%
    VA 14 $4,870,000 $347,857 $4,153 3.12%
    USDA 1 $275,000 $275,000 $6,184 2.88%

    For 2020, Conway Financial Services's most frequently originated type of loan was Conventional, with 357 originations. Their 2nd most popular type was FHA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 249 $85,295,000 $342,550 $4,197 3.15%
    Refi 104 $34,270,000 $329,519 $2,893 3.03%
    Cash Out Refi 41 $12,185,000 $297,195 $3,130 3.28%
    Other 1 $5,000 $5,000 $0 4.00%

    For 2020, Conway Financial Services's most frequently cited loan purpose was Home Purchase, with 249 originations. The 2nd most popular reason was Refi, with 104 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 335 $116,565,000 $347,955 $3,949 3.20%
    15 Year 41 $9,035,000 $220,366 $2,222 2.61%
    20 Year 11 $3,265,000 $296,818 $3,388 3.03%
    Other 8 $2,890,000 $361,250 $2,880 3.07%

    For 2020, Conway Financial Services's most frequently cited loan duration was 30 Year, with 335 originations. The 2nd most popular length was 15 Year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 348 $116,280,000 $334,138
    $1k-2k 33 $9,555,000 $289,545
    $3k-4k 6 $2,930,000 $488,333
    $2k-3k 4 $1,230,000 $307,500
    $4k-5k 4 $1,760,000 $440,000

    Conway Financial Services's average total fees were $3,949, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 348 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 186 $64,520,000 $346,882
    2.5-3% 179 $60,785,000 $339,581
    <2.5% 20 $3,890,000 $194,500
    4-5% 5 $1,245,000 $249,000
    5-6% 5 $1,315,000 $263,000

    During 2020, Conway Financial Services's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 3-4%, with 186 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 222 $66,780,000 $300,811 $3,829 3.15%
    $400k-600k 103 $48,585,000 $471,699 $3,962 3.10%
    $100k-200k 50 $8,150,000 $163,000 $3,081 3.29%
    $100,000 or less 10 $210,000 $21,000 $299 2.30%
    $600k-1MM 8 $4,960,000 $620,000 $5,707 3.03%
    $1MM+ 2 $3,070,000 $1,535,000 $6,686 3.13%

    2020 saw Conway Financial Services place emphasis on $200k-400k loans with 222 originations, totaling $66,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 123 $44,535,000 $362,073 $3,922 3.20%
    $50k-75k 85 $20,835,000 $245,118 $3,381 3.17%
    $75k-100k 83 $23,515,000 $283,313 $3,673 3.12%
    $150k-250k 65 $28,125,000 $432,692 $3,866 3.08%
    $50k or less 20 $4,440,000 $222,000 $3,888 3.01%
    $250k+ 17 $9,455,000 $556,176 $3,859 2.98%

    Conway Financial Services lent most frequently to those with incomes in the $100k-150k range, with 123 originations. The second most popular income band? $50k-75k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 102 $33,830,000 $331,667 $3,210 3.07%
    30-36% 65 $22,715,000 $349,462 $3,480 3.13%
    <20% 31 $10,165,000 $327,903 $2,789 2.85%
    41% 22 $7,750,000 $352,273 $4,442 3.33%
    43% 22 $6,170,000 $280,455 $3,583 3.37%
    37% 18 $6,100,000 $338,889 $4,750 3.22%
    38% 16 $5,790,000 $361,875 $3,758 3.15%
    44% 16 $5,420,000 $338,750 $3,944 3.19%
    49% 15 $4,895,000 $326,333 $4,919 3.15%
    40% 14 $4,980,000 $355,714 $3,596 3.26%
    36% 13 $4,835,000 $371,923 $4,833 2.97%
    45% 13 $3,975,000 $305,769 $3,687 3.22%
    48% 10 $3,140,000 $314,000 $5,674 3.25%
    46% 9 $2,335,000 $259,444 $4,698 3.01%
    47% 9 $2,895,000 $321,667 $3,543 3.15%
    39% 8 $2,670,000 $333,750 $3,501 3.15%
    42% 7 $2,225,000 $317,857 $3,515 3.16%
    50-60% 3 $905,000 $301,667 $8,592 3.42%
    >60% 1 $505,000 $505,000 $2,315 3.75%

    Conway Financial Services lent most frequently to those with DTI ratios of 20-30%, with 102 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 333 $110,595,000 $332,117 $3,681 3.13%
    Not provided 43 $13,895,000 $323,140 $3,530 3.16%
    Black 12 $4,200,000 $350,000 $4,633 3.21%
    Asian 6 $2,760,000 $460,000 $6,301 3.19%
    Native Hawaiian or Islander 1 $305,000 $305,000 $3,260 3.25%

    Approval Rates

    Total approvals of all applications
    95.91%

    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
    81.52%

    Conway Financial Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 395 $131,755,000 $333,557

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 395 $131,755,000 $333,557

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $4,730,000 $197,083 $2,855 2.88%
    40-60% 47 $13,245,000 $281,809 $2,942 2.97%
    60-80% 132 $48,430,000 $366,894 $3,308 3.15%
    80-100% 178 $63,580,000 $357,191 $4,428 3.24%
    Over 100% 4 $1,260,000 $315,000 $9,999 3.47%
    Under 20% 9 $115,000 $12,778 $21 2.22%