Pawtucket Mortgage Rates, Fees & Info
Pawtucket, RILEI: 549300UK3Z5PC7V71K69
Tax ID: 05-0197075
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Pawtucket is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Pawtucket has a high proportion of conventional loans. Their top markets include Providence, Boston, Worcester, Barnstable Town, and Springfield among others. Pawtucket has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Pawtucket is typically a low fee lendor.Originations
3,137Origination Dollar Volume (All Markets)
$638,355,000Awards
PAWTUCKET - 2021
PAWTUCKET is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for PAWTUCKET?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Pawtucket's average 30 year fixed rate mortgage of loans were
3.14%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.01%.
Relative Fees
Pawtucket's average total fees for a 30 year fixed rate
mortgage are $2,696.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3,051 | $607,845,000 | $199,228 | $1,815 | 3.18% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 60 | $23,820,000 | $397,000 | $2,661 | 3.24% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 18 | $3,950,000 | $219,444 | $1,436 | 3.15% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 5 | $2,175,000 | $435,000 | $3,092 | 3.15% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $1,430 | 2.71% |
Pawtucket's top markets include Providence, Boston, Worcester, Barnstable Town, and Springfield among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 3,137 | $638,355,000 | $203,492 | $1,830 | 3.18% |
For the 2021 period, Pawtucket's most frequently originated loan type of loans were Conventional, with 3,137 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 1,265 | $243,095,000 | $192,170 | $1,245 | 3.00% |
| Cash Out Refi | 864 | $216,660,000 | $250,764 | $2,367 | 3.00% |
| Home Improvement | 448 | $32,720,000 | $73,036 | $5 | 3.75% |
| Home Purchase | 347 | $122,735,000 | $353,703 | $3,129 | 3.14% |
| Other | 213 | $23,145,000 | $108,662 | $18 | 3.83% |
For the 2021, Pawtucket's most frequently cited loan purpose of loans were Refi, with 1,265 originations. The 2nd most popular reason of loans were Cash Out Refi, with 864 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 1,186 | $159,050,000 | $134,106 | $127 | 3.38% |
| 30 Year | 1,037 | $300,775,000 | $290,043 | $2,696 | 3.14% |
| 20 Year | 505 | $115,845,000 | $229,396 | $2,187 | 2.94% |
| 15 Year | 245 | $45,635,000 | $186,265 | $1,946 | 2.82% |
| 10 Year | 123 | $13,565,000 | $110,285 | $263 | 3.20% |
| 5 Year | 37 | $1,475,000 | $39,865 | $48 | 3.38% |
| 1 Year | 4 | $2,010,000 | $502,500 | $0 | 4.25% |
For the 2021, Pawtucket's most frequently cited loan length of loans were Other, with 1,186 originations. The 2nd most popular length of loans were 30 Year, with 1,037 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2,410 | $538,310,000 | $223,365 |
| $1k-2k | 8 | $3,930,000 | $491,250 |
| $3k-4k | 6 | $1,550,000 | $258,333 |
| $2k-3k | 3 | $595,000 | $198,333 |
| $5k+ | 2 | $730,000 | $365,000 |
$2,696 of loans were Pawtucket's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 2,410 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,645 | $366,985,000 | $223,091 |
| 3-4% | 1,239 | $230,465,000 | $186,009 |
| <2.5% | 136 | $26,630,000 | $195,809 |
| 4-5% | 114 | $14,100,000 | $123,684 |
| 5-6% | 3 | $175,000 | $58,333 |
During 2021, Pawtucket's average interest rate of loans were 3.14%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,645 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,126 | $305,790,000 | $271,572 | $2,285 | 3.08% |
| $100k-200k | 1,017 | $153,255,000 | $150,693 | $1,521 | 3.04% |
| $100,000 or less | 769 | $43,085,000 | $56,027 | $409 | 3.52% |
| $400k-600k | 164 | $77,970,000 | $475,427 | $3,122 | 3.10% |
| $600k-1MM | 43 | $30,375,000 | $706,395 | $4,188 | 3.07% |
| $1MM+ | 18 | $27,880,000 | $1,548,889 | $6,228 | 3.33% |
2021 saw Pawtucket place emphasis on $200k-400k loans with 1,126 originations, totaling $305,790,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 840 | $170,260,000 | $202,690 | $1,780 | 3.16% |
| $75k-100k | 650 | $115,010,000 | $176,938 | $1,728 | 3.15% |
| $50k-75k | 582 | $91,040,000 | $156,426 | $1,772 | 3.14% |
| $150k-250k | 554 | $137,660,000 | $248,484 | $1,938 | 3.18% |
| $50k or less | 307 | $37,485,000 | $122,101 | $1,758 | 3.21% |
| $250k+ | 159 | $63,785,000 | $401,164 | $2,638 | 3.22% |
Pawtucket lent most frequently to those with incomes in the $100k-150k range, with 840 originations. The second most popular income band? $75k-100k, with 650 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 928 | $188,460,000 | $203,082 | $1,789 | 3.13% |
| 30-36% | 615 | $119,655,000 | $194,561 | $1,848 | 3.18% |
| <20% | 541 | $87,745,000 | $162,190 | $1,274 | 3.20% |
| 42% | 119 | $24,105,000 | $202,563 | $1,887 | 3.16% |
| 39% | 119 | $28,065,000 | $235,840 | $2,068 | 3.21% |
| 40% | 104 | $24,390,000 | $234,519 | $1,976 | 3.11% |
| 37% | 104 | $19,520,000 | $187,692 | $2,090 | 3.18% |
| 38% | 103 | $23,425,000 | $227,427 | $1,968 | 3.08% |
| 41% | 88 | $16,710,000 | $189,886 | $1,737 | 3.18% |
| 36% | 88 | $21,580,000 | $245,227 | $2,092 | 3.07% |
| 43% | 72 | $17,310,000 | $240,417 | $2,356 | 3.19% |
| 44% | 51 | $11,015,000 | $215,980 | $2,486 | 3.34% |
| 46% | 38 | $7,300,000 | $192,105 | $2,421 | 3.20% |
| 45% | 34 | $6,280,000 | $184,706 | $2,379 | 3.30% |
| 47% | 26 | $6,400,000 | $246,154 | $2,570 | 3.15% |
| 48% | 17 | $3,405,000 | $200,294 | $2,369 | 3.16% |
| 49% | 17 | $3,915,000 | $230,294 | $2,617 | 3.13% |
| 50-60% | 9 | $1,465,000 | $162,778 | $1,835 | 3.32% |
| >60% | 2 | $190,000 | $95,000 | $0 | 3.19% |
Pawtucket lent most frequently to those with DTI ratios of 20-30%, with 928 originations. The next most common DTI ratio? 30-36%, with 615 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,721 | $540,785,000 | $198,745 | $1,820 | 3.16% |
| Not provided | 169 | $31,305,000 | $185,237 | $1,769 | 3.28% |
| Black | 127 | $25,655,000 | $202,008 | $1,929 | 3.17% |
| Not applicable | 37 | $20,415,000 | $551,757 | $0 | 3.99% |
| Asian | 55 | $13,945,000 | $253,545 | $1,976 | 3.05% |
| American Indian | 17 | $3,925,000 | $230,882 | $2,235 | 3.08% |
| Native Hawaiian | 9 | $1,585,000 | $176,111 | $2,368 | 3.39% |
| Other Asian | 1 | $545,000 | $545,000 | $3,418 | 3.00% |
| Other Pacific Islander | 1 | $195,000 | $195,000 | $2,231 | 3.13% |
Approval Rates
Total approvals of all applications82.17%
Pawtucket has a below average approval rate.
Pick Rate
Approvals leading to origination86.41%
Pawtucket has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $155,000 | $155,000 |
| NA | 3,136 | $638,200,000 | $203,508 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,137 | $638,355,000 | $203,492 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 626 | $82,580,000 | $131,917 | $955 | 3.11% |
| 40-60% | 708 | $152,550,000 | $215,466 | $1,855 | 2.96% |
| 60-80% | 896 | $259,810,000 | $289,967 | $2,335 | 3.10% |
| 80-100% | 310 | $106,590,000 | $343,839 | $2,878 | 3.12% |
| Over 100% | 4 | $4,030,000 | $1,007,500 | $0 | 4.03% |
| Under 20% | 593 | $32,795,000 | $55,304 | $142 | 3.65% |
