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 loans. Bankwell Bank has a high proportion of conventional loans. Their top two markets are Bridgeport and New Haven .Bankwell Bank has a below average approval rate when compared to the average across all lenders.
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Originations
4Origination Dollar Volume (All Markets)
$13,820,000Top 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) | 3 | $11,565,000 | $3,855,000 | $0 | 0.00% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $2,255,000 | $2,255,000 | $0 | 0.00% |
Their top states include:
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 4 | $13,820,000 | $3,455,000 | $0 | 0.00% |
For 2019, Bankwell Bank's most frequently originated type of loan was Conventional, with 4 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Home Purchase | 2 | $13,380,000 | $6,690,000 | $0 | 0.00% |
Home Improvement | 1 | $405,000 | $405,000 | $0 | 0.00% |
Refi | 1 | $35,000 | $35,000 | $0 | 0.00% |
For 2019, Bankwell Bank's most frequently cited loan purpose was Home Purchase, with 2 originations. The 2nd most popular reason was Home Improvement, with 1 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 4 | $13,820,000 | $3,455,000 | $0 | 0.00% |
For 2019, Bankwell Bank's most frequently cited loan duration was Other, with 4 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$1MM+ | 2 | $13,380,000 | $6,690,000 | $0 | 0.00% |
$100,000 or less | 1 | $35,000 | $35,000 | $0 | 0.00% |
$400k-600k | 1 | $405,000 | $405,000 | $0 | 0.00% |
2019 saw Bankwell Bank place emphasis on $1MM+ loans with 2 originations, totaling $13,380,000 in origination value.
Applicant Income
Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$50k-75k | 1 | $35,000 | $35,000 | $0 | 0.00% |
Bankwell Bank lent most frequently to those with incomes in the $50k-75k range, with 1 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 4 | $13,820,000 | $3,455,000 | $0 | 0.00% |
Bankwell Bank lent most frequently to those with DTI ratios of Exempt%, with 4 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Not applicable | 3 | $13,785,000 | $4,595,000 | $0 | 0.00% |
Not provided | 1 | $35,000 | $35,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications36.36%
Bankwell Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 4 | $13,820,000 | $3,455,000 |