Greylock Mortgage Rates, Fees & Info

Pittsfield, MA

LEI: 549300XLRD9QLLJRCB89

Tax ID: 04-2230576

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Greylock is a smaller mortgage company specializing in Home Purchase and Refi loans. Greylock has a high proportion of conventional loans. Their top markets include Pittsfield, Bennington, Springfield, Hudson, and Albany among others. Greylock has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Greylock is typically a low fee lendor.


Originations

879

Origination Dollar Volume (All Markets)

$136,595,000

Awards

GREYLOCK 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Greylock'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

Greylock's average total fees for a 30 year fixed rate mortgage are $2,978.

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
PITTSFIELD, MA (FHA|USDA|VA) 822 $128,540,000 $156,375 $2,313 3.22%
Bennington, VT (FHA|USDA|VA) 25 $3,015,000 $120,600 $2,517 3.10%
SPRINGFIELD, MA (FHA|USDA|VA) 12 $2,030,000 $169,167 $2,541 3.50%
Hudson, NY (FHA|USDA|VA) 12 $1,210,000 $100,833 $1,997 3.24%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 3 $635,000 $211,667 $2,959 3.16%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $445,000 $445,000 $3,714 2.88%
Torrington, CT (FHA|USDA|VA) 1 $265,000 $265,000 $3,578 2.75%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $225,000 $225,000 $2,764 2.99%
OCALA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $1,829 3.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $85,000 $85,000 $1,486 3.25%

Greylock's top markets include Pittsfield, Bennington, Springfield, Hudson, and Albany among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 879 $136,595,000 $155,398 $2,322 3.22%

For the 2021 period, Greylock's most frequently originated loan type of loans were Conventional, with 879 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 433 $90,175,000 $208,256 $3,006 3.05%
Refi 238 $32,320,000 $135,798 $2,032 3.22%
Home Improvement 123 $5,405,000 $43,943 $864 3.57%
Other 51 $2,695,000 $52,843 $877 3.69%
Cash Out Refi 34 $6,000,000 $176,471 $3,197 3.41%

For the 2021, Greylock's most frequently cited loan purpose of loans were Home Purchase, with 433 originations. The 2nd most popular reason of loans were Refi, with 238 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 372 $75,330,000 $202,500 $2,978 3.14%
15 Year 268 $23,390,000 $87,276 $1,330 3.44%
Other 122 $23,820,000 $195,246 $2,790 2.98%
10 Year 74 $7,880,000 $106,486 $1,704 3.04%
20 Year 26 $4,610,000 $177,308 $2,835 3.30%
5 Year 13 $315,000 $24,231 $772 3.71%
30+ year 3 $1,175,000 $391,667 $3,869 2.99%
1 Year 1 $75,000 $75,000 $0 5.50%

For the 2021, Greylock's most frequently cited loan length of loans were 30 Year, with 372 originations. The 2nd most popular length of loans were 15 Year, with 268 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 847 $131,225,000 $154,929
$1k-2k 8 $1,220,000 $152,500
$2k-3k 7 $1,335,000 $190,714
$3k-4k 2 $640,000 $320,000

$2,978 of loans were Greylock's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 847 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 461 $60,085,000 $130,336
2.5-3% 351 $70,605,000 $201,154
5-6% 33 $1,445,000 $43,788
<2.5% 17 $2,545,000 $149,706
4-5% 17 $1,915,000 $112,647

During 2021, Greylock's average interest rate of loans were 3.14%, while their most frequently originated rate bucket of loans were 3-4%, with 461 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 360 $53,830,000 $149,528 $2,652 3.13%
$100,000 or less 284 $13,800,000 $48,592 $1,209 3.45%
$200k-400k 204 $53,450,000 $262,010 $3,073 3.07%
$400k-600k 28 $13,370,000 $477,500 $3,600 3.02%
$600k-1MM 3 $2,145,000 $715,000 $4,989 2.99%

2021 saw Greylock place emphasis on $100k-200k loans with 360 originations, totaling $53,830,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 252 $35,000,000 $138,889 $2,371 3.17%
$50k or less 172 $18,520,000 $107,674 $2,170 3.26%
$100k-150k 162 $26,670,000 $164,630 $2,163 3.19%
$75k-100k 159 $25,565,000 $160,786 $2,369 3.24%
$150k-250k 92 $20,970,000 $227,935 $2,571 3.19%
$250k+ 21 $6,615,000 $315,000 $2,809 3.11%

Greylock lent most frequently to those with incomes in the $50k-75k range, with 252 originations. The second most popular income band? $50k or less, with 172 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 183 $29,155,000 $159,317 $2,354 3.16%
30-36% 165 $24,995,000 $151,485 $2,374 3.19%
<20% 76 $11,820,000 $155,526 $2,461 3.12%
50-60% 59 $8,975,000 $152,119 $2,090 3.13%
42% 37 $5,145,000 $139,054 $2,309 3.33%
41% 34 $5,400,000 $158,824 $2,129 3.27%
44% 33 $5,355,000 $162,273 $2,194 3.51%
40% 32 $5,150,000 $160,938 $2,380 3.17%
45% 31 $4,355,000 $140,484 $2,242 3.21%
36% 29 $4,205,000 $145,000 $2,304 3.08%
37% 29 $4,035,000 $139,138 $2,066 3.25%
43% 28 $4,210,000 $150,357 $2,286 3.19%
47% 23 $4,215,000 $183,261 $2,415 3.21%
38% 21 $3,305,000 $157,381 $2,176 3.30%
49% 20 $3,310,000 $165,500 $2,470 3.07%
46% 18 $3,280,000 $182,222 $2,546 3.19%
39% 18 $3,060,000 $170,000 $2,557 3.22%
48% 15 $2,565,000 $171,000 $2,387 3.13%

Greylock lent most frequently to those with DTI ratios of 20-30%, with 183 originations. The next most common DTI ratio? 30-36%, with 165 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 742 $112,910,000 $152,170 $2,311 3.21%
Not provided 88 $14,880,000 $169,091 $2,354 3.16%
Asian 11 $3,015,000 $274,091 $2,980 3.01%
Black 17 $1,825,000 $107,353 $1,902 3.44%
Not applicable 8 $1,370,000 $171,250 $0 4.31%
Other Asian 3 $765,000 $255,000 $2,940 2.83%
American Indian 3 $685,000 $228,333 $3,759 4.25%
Asian Indian 2 $410,000 $205,000 $3,294 3.06%
Filipino 1 $265,000 $265,000 $3,441 2.99%
Other Pacific Islander 1 $255,000 $255,000 $3,043 2.88%
Vietnamese 2 $180,000 $90,000 $2,034 3.12%
Korean 1 $35,000 $35,000 $997 3.25%

Approval Rates

Total approvals of all applications
90.78%

Greylock has an average approval rate.

Pick Rate

Approvals leading to origination
79.67%

Greylock has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 879 $136,595,000 $155,398

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
879 $136,595,000 $155,398

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 100 $8,450,000 $84,500 $1,397 3.34%
40-60% 97 $15,475,000 $159,536 $2,332 3.20%
60-80% 235 $45,175,000 $192,234 $2,835 3.21%
80-100% 291 $60,255,000 $207,062 $2,949 3.03%
Under 20% 146 $4,630,000 $31,712 $844 3.53%