Nutmeg State Financial Mortgage Rates, Fees & Info

Rocky Hill, CT

LEI: 549300XUMML1SMLTVQ62

Tax ID: 06-0655039

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Mortgage Data

Review & Overview

Nutmeg State Financial is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Nutmeg State Financial has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, New Haven, Bridgeport, Norwich, and Torrington among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Nutmeg State Financial has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.39% 12/8/24
30 Year Conventional Refi 6.45% 12/8/24
30 Year Cash-out Refi 6.39% 12/8/24
15 Year Conventional Purchase 6.38% 12/8/24
15 Year Conventional Refi 5.94% 12/8/24
15 Year Cash-out Refi 5.94% 12/8/24
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.

Nutmeg State Financial Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Nutmeg State Financial. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

410

Origination Dollar Volume (All Markets)

$48,220,000

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
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 287 $32,535,000 $113,362 $0 0.00%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 82 $9,890,000 $120,610 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 30 $4,050,000 $135,000 $0 0.00%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 5 $805,000 $161,000 $0 0.00%
Outside of Metro Areas 2 $680,000 $340,000 $0 0.00%
Torrington, CT (FHA|USDA|VA) 3 $235,000 $78,333 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Nutmeg State Financial's top markets include Hartford, New Haven, Bridgeport, Norwich, and Torrington among others.

Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against NUTMEG STATE FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Charter Oak Federal Credit Union
    Similarity Rank: 32
    The Torrington Savings Bank
    Similarity Rank: 45
    Chelsea Groton Bank
    Similarity Rank: 56
    Stafford Savings Bank
    Similarity Rank: 63
    SIKORSKY FINANCIAL
    Similarity Rank: 105
    Thomaston Savings Bank
    Similarity Rank: 144
    Northwest Community Bank
    Similarity Rank: 165
    Sanborn Mortgage Corporation
    Similarity Rank: 208
    Union Savings Bank
    Similarity Rank: 224

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 410 $48,220,000 $117,610 $0 0.00%

    For 2023, Nutmeg State Financial's most frequently originated type of loan was Conventional, with 410 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 207 $21,895,000 $105,773 $0 0.00%
    Other 97 $7,385,000 $76,134 $0 0.00%
    Cash Out Refi 58 $7,830,000 $135,000 $0 0.00%
    Home Purchase 33 $9,775,000 $296,212 $0 0.00%
    Refi 15 $1,335,000 $89,000 $0 0.00%

    For 2023, Nutmeg State Financial's most frequently cited loan purpose was Home Improvement, with 207 originations. The 2nd most popular reason was Other, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 410 $48,220,000 $117,610 $0 0.00%

    For 2023, Nutmeg State Financial's most frequently cited loan duration was Other, with 410 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 244 $12,740,000 $52,213 $0 0.00%
    $100k-200k 104 $14,210,000 $136,635 $0 0.00%
    $200k-400k 47 $12,975,000 $276,064 $0 0.00%
    $400k-600k 11 $5,125,000 $465,909 $0 0.00%
    $600k-1MM 3 $2,165,000 $721,667 $0 0.00%
    $1MM+ 1 $1,005,000 $1,005,000 $0 0.00%

    2023 saw Nutmeg State Financial place emphasis on $100,000 or less loans with 244 originations, totaling $12,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 110 $13,630,000 $123,909 $0 0.00%
    $100k-150k 104 $8,600,000 $82,692 $0 0.00%
    $75k-100k 62 $4,670,000 $75,323 $0 0.00%
    $50k-75k 56 $3,870,000 $69,107 $0 0.00%
    $250k+ 55 $13,155,000 $239,182 $0 0.00%
    $50k or less 14 $1,160,000 $82,857 $0 0.00%

    Nutmeg State Financial lent most frequently to those with incomes in the $150k-250k range, with 110 originations. The second most popular income band? $100k-150k, with 104 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 410 $48,220,000 $117,610 $0 0.00%

    Nutmeg State Financial lent most frequently to those with DTI ratios of Exempt%, with 410 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 211 $24,755,000 $117,322 $0 0.00%
    White 175 $19,215,000 $109,800 $0 0.00%
    Not applicable 9 $3,135,000 $348,333 $0 0.00%
    Black 12 $800,000 $66,667 $0 0.00%
    Asian 1 $185,000 $185,000 $0 0.00%
    Filipino 1 $85,000 $85,000 $0 0.00%
    Asian Indian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    70.18%

    Nutmeg State Financial has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.46%

    Nutmeg State Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 410 $48,220,000 $117,610

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    410 $48,220,000 $117,610