Nutmeg State Financial Mortgage Rates, Fees & InfoRocky Hill, CT
Tax ID: 06-0655039
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewNutmeg 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 9 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 above average pick rate when compared to similar lenders. Nutmeg State Financial is typically an average 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.39%||4/2/23|
|30 Year Conventional Refi||6.45%||4/2/23|
|30 Year Cash-out Refi||6.39%||4/2/23|
|15 Year Conventional Purchase||6.38%||4/2/23|
|15 Year Conventional Refi||5.94%||4/2/23|
|15 Year Cash-out Refi||5.94%||4/2/23|
|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.|
Nutmeg State Financial Mortgage Calculator
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This is not an official calculator from Nutmeg State Financial. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$80,740,000
Nutmeg State Financial's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.28%.
Relative Fees (Closing Costs)
Nutmeg State Financial's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,274.
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.
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)||440||$44,280,000||$100,636||$347||4.27%|
|NEW HAVEN-MILFORD, CT (FHA|USDA|VA)||103||$12,875,000||$125,000||$467||4.38%|
|Outside of Metro Areas||26||$11,230,000||$431,923||$708||4.87%|
|BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)||47||$8,745,000||$186,064||$309||4.20%|
|NORWICH-NEW LONDON, CT (FHA|USDA|VA)||13||$1,305,000||$100,385||$0||4.78%|
|Torrington, CT (FHA|USDA|VA)||10||$1,200,000||$120,000||$0||3.25%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||1||$515,000||$515,000||$4,856||4.25%|
|WORCESTER, MA-CT (FHA|USDA|VA)||3||$485,000||$161,667||$1,457||3.81%|
|PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)||1||$105,000||$105,000||$3,396||3.75%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Nutmeg State Financial's most frequently originated type of loan was Conventional, with 644 originations.
For 2022, Nutmeg State Financial's most frequently cited loan purpose was Home Improvement, with 343 originations. The 2nd most popular reason was Other, with 110 originations.
For 2022, Nutmeg State Financial's most frequently cited loan duration was Other, with 370 originations. The 2nd most popular length was 15 Year, with 120 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Nutmeg State Financial's average total fees were $5,274, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 584 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Nutmeg State Financial's average interest rate for loans was 4.48%, while their most frequently originated rate bucket for loans was 3-4%, with 135 originations.
2022 saw Nutmeg State Financial place emphasis on $100,000 or less loans with 377 originations, totaling $19,485,000 in origination value.
Nutmeg State Financial lent most frequently to those with incomes in the $150k-250k range, with 174 originations. The second most popular income band? $100k-150k, with 166 originations.
Applicant Debt to Income Ratio
Nutmeg State Financial lent most frequently to those with DTI ratios of <20%, with 330 originations. The next most common DTI ratio? 20-30%, with 82 originations.
Approval RatesTotal approvals of all applications
Nutmeg State Financial has a below average approval rate.
Pick RateApprovals leading to origination
Nutmeg State Financial has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|NATIONSTAR MORTGAGE||Conventional home mortgage||Applying for a mortgage or refinancing an existing mortgage||1||5.3%|
|NATIONSTAR MORTGAGE||Conventional home mortgage||Struggling to pay mortgage||3||15.8%|
|NATIONSTAR MORTGAGE||Conventional home mortgage||Trouble during payment process||8||42.1%|
|NATIONSTAR MORTGAGE||FHA mortgage||Struggling to pay mortgage||2||10.5%|
|NATIONSTAR MORTGAGE||Reverse mortgage||Trouble during payment process||1||5.3%|
|NATIONSTAR MORTGAGE||VA mortgage||Trouble during payment process||4||21.1%|