Pawtucket Mortgage Rates, Fees & Info
Pawtucket, RILEI: 549300UK3Z5PC7V71K69
Tax ID: 05-0197075
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Pawtucket is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Pawtucket has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Providence, Boston, Worcester, Barnstable Town, and Springfield among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Pawtucket has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Pawtucket 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 9/18/23 |
| 30 Year Conventional Refi | 6.36% | 9/18/23 |
| 30 Year Cash-out Refi | 6.46% | 9/18/23 |
| 30 Year FHA Purchase | 6.27% | 9/18/23 |
| 15 Year Conventional Purchase | 5.80% | 9/18/23 |
| 15 Year Conventional Refi | 5.82% | 9/18/23 |
| 15 Year Cash-out Refi | 5.82% | 9/18/23 |
| 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. | ||
Pawtucket Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,441Origination Dollar Volume (All Markets)
$479,425,000Awards
PAWTUCKET - 2022
PAWTUCKET is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Pawtucket's average 30 year fixed mortgage rate was
4.11%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.65%.
Relative Fees (Closing Costs)
Pawtucket's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,269.
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 $4,750.
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 |
|---|---|---|---|---|---|
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2,361 | $446,285,000 | $189,024 | $1,963 | 4.21% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 49 | $17,805,000 | $363,367 | $3,476 | 4.37% |
| Outside of Metro Areas | 5 | $6,845,000 | $1,369,000 | $7,395 | 3.60% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 12 | $4,780,000 | $398,333 | $3,425 | 3.83% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $2,437 | 3.31% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $3,227 | 4.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $4,362 | 5.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,029 | 4.94% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,083 | 5.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against PAWTUCKET based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 52
Similarity Rank: 87
Similarity Rank: 360
Similarity Rank: 393
Similarity Rank: 396
Similarity Rank: 432
Similarity Rank: 474
Similarity Rank: 526
Similarity Rank: 560
Similarity Rank: 768
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,424 | $355,490,000 | $249,642 | $2,031 | 3.94% |
| HELOC | 1,016 | $123,680,000 | $121,732 | n/a | 4.59% |
| FHA | 1 | $255,000 | $255,000 | $0 | 3.50% |
For 2022, Pawtucket's most frequently originated type of loan was Conventional, with 1,424 originations. Their 2nd most popular type was HELOC, with 1,016 originations.
Loan Reason
For 2022, Pawtucket's most frequently cited loan purpose was Home Improvement, with 680 originations. The 2nd most popular reason was Refi, with 566 originations.
Loan Duration/Length
For 2022, Pawtucket's most frequently cited loan duration was Other, with 1,195 originations. The 2nd most popular length was 30 Year, with 620 originations.
Origination Fees/Closing Costs
Pawtucket's average total fees were $3,269, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,390 originations.
Interest Rates
During 2022, Pawtucket's average interest rate for loans was 4.11%, while their most frequently originated rate bucket for loans was 3-4%, with 917 originations.
Loan Sizing
2022 saw Pawtucket place emphasis on $100,000 or less loans with 862 originations, totaling $45,690,000 in origination value.
Applicant Income
Pawtucket lent most frequently to those with incomes in the $100k-150k range, with 633 originations. The second most popular income band? $75k-100k, with 533 originations.
Applicant Debt to Income Ratio
Pawtucket lent most frequently to those with DTI ratios of 20-30%, with 661 originations. The next most common DTI ratio? 30-36%, with 481 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.02%
Pawtucket has a below average approval rate.
Pick Rate
Approvals leading to origination88.16%
Pawtucket has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 11 | $1,415,000 | $128,636 |
| NA | 2,430 | $478,010,000 | $196,712 |