Bankwell Bank Mortgage Rates, Fees & Info
NEW CANAAN, CTLEI: 549300X5I608U02HAI25
Tax ID: 06-1552565
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Mortgage Data
Review & Overview
Bankwell Bank is a smaller bank specializing in Home Purchase and Refi loans. Bankwell Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bridgeport, New Haven, Hartford, and New York among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Bankwell Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
15Origination Dollar Volume (All Markets)
$67,645,000Top 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 |
---|---|---|---|---|---|
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 9 | $36,555,000 | $4,061,667 | $0 | 0.00% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 2 | $20,610,000 | $10,305,000 | $0 | 0.00% |
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $5,860,000 | $2,930,000 | $0 | 0.00% |
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $4,620,000 | $2,310,000 | $0 | 0.00% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 15 | $67,645,000 | $4,509,667 | $0 | 0.00% |
For 2018, Bankwell Bank's most frequently originated type of loan was Conventional, with 15 originations.
Loan Reason
For 2018, Bankwell Bank's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Home Improvement, with 4 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 15 | $67,645,000 | $4,509,667 | $0 | 0.00% |
For 2018, Bankwell Bank's most frequently cited loan duration was Other, with 15 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$1MM+ | 9 | $63,565,000 | $7,062,778 | $0 | 0.00% |
$600k-1MM | 6 | $4,080,000 | $680,000 | $0 | 0.00% |
2018 saw Bankwell Bank place emphasis on $1MM+ loans with 9 originations, totaling $63,565,000 in origination value.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 15 | $67,645,000 | $4,509,667 | $0 | 0.00% |
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Not applicable | 15 | $67,645,000 | $4,509,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Bankwell Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.33%
Bankwell Bank has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 15 | $67,645,000 | $4,509,667 |