Nutmeg State Financial Mortgage Rates, Fees & Info
Rocky Hill, CTLEI: 549300XUMML1SMLTVQ62
Tax ID: 06-0655039
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Mortgage Data
Review & Overview
Nutmeg State Financial is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Nutmeg State Financial has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, New Haven, Bridgeport, Torrington, and Norwich among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Nutmeg State Financial 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. Nutmeg State Financial is typically a high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.39% | 12/4/24 |
| 30 Year Conventional Refi | 6.45% | 12/4/24 |
| 30 Year Cash-out Refi | 6.39% | 12/4/24 |
| 15 Year Conventional Purchase | 6.38% | 12/4/24 |
| 15 Year Conventional Refi | 5.94% | 12/4/24 |
| 15 Year Cash-out Refi | 5.94% | 12/4/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
614Origination Dollar Volume (All Markets)
$71,510,000Top 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 |
|---|---|---|---|---|---|
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 447 | $49,565,000 | $110,884 | $47 | 4.16% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 67 | $8,815,000 | $131,567 | $61 | 4.28% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 34 | $6,710,000 | $197,353 | $443 | 4.23% |
| Outside of Metro Areas | 30 | $2,250,000 | $75,000 | $0 | 4.44% |
| Torrington, CT (FHA|USDA|VA) | 14 | $1,760,000 | $125,714 | $0 | 3.87% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 13 | $1,395,000 | $107,308 | $40 | 4.06% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 8 | $920,000 | $115,000 | $256 | 4.00% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 456 | $59,090,000 | $129,583 | $68 | 3.92% |
| HELOC | 158 | $12,420,000 | $78,608 | n/a | 5.05% |
For 2018, Nutmeg State Financial's most frequently originated type of loan was Conventional, with 456 originations. Their 2nd most popular type was HELOC, with 158 originations.
Loan Reason
For 2018, Nutmeg State Financial's most frequently cited loan purpose was Refi, with 215 originations. The 2nd most popular reason was Home Improvement, with 120 originations.
Loan Duration/Length
For 2018, Nutmeg State Financial's most frequently cited loan duration was Other, with 315 originations. The 2nd most popular length was 20 Year, with 124 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 455 | $56,735,000 | $124,692 |
| $5k+ | 1 | $2,355,000 | $2,355,000 |
Nutmeg State Financial's average total fees were $8,971, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 455 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 149 | $23,465,000 | $157,483 |
| 4-5% | 102 | $7,880,000 | $77,255 |
| 2.5-3% | 41 | $5,885,000 | $143,537 |
| 5-6% | 38 | $3,010,000 | $79,211 |
| 6-7% | 13 | $875,000 | $67,308 |
During 2018, Nutmeg State Financial's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 3-4%, with 149 originations.
Loan Sizing
2018 saw Nutmeg State Financial place emphasis on $100,000 or less loans with 333 originations, totaling $15,915,000 in origination value.
Applicant Income
Nutmeg State Financial lent most frequently to those with incomes in the $100k-150k range, with 168 originations. The second most popular income band? $150k-250k, with 146 originations.
Applicant Debt to Income Ratio
Nutmeg State Financial lent most frequently to those with DTI ratios of 20-30%, with 153 originations. The next most common DTI ratio? 30-36%, with 111 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.69%
Nutmeg State Financial has an average approval rate.
Pick Rate
Approvals leading to origination99.02%
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 |
|---|---|---|---|
| 0.0 | 158 | $12,420,000 | $78,608 |
| NA | 456 | $59,090,000 | $129,583 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 614 | $71,510,000 | $116,466 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NATIONSTAR MORTGAGE | VA mortgage | Trouble during payment process | 31 | 2.1% |
| NATIONSTAR MORTGAGE | Home equity loan or line of credit (HELOC) | Problem with a credit reporting company's investigation into an existing problem | 1 | 0.1% |
| NATIONSTAR MORTGAGE | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 4 | 0.3% |
| NATIONSTAR MORTGAGE | Home equity loan or line of credit (HELOC) | Trouble during payment process | 12 | 0.8% |
| NATIONSTAR MORTGAGE | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 0.3% |
| NATIONSTAR MORTGAGE | Other type of mortgage | Closing on a mortgage | 5 | 0.3% |
| NATIONSTAR MORTGAGE | Other type of mortgage | Incorrect information on your report | 6 | 0.4% |
| NATIONSTAR MORTGAGE | Other type of mortgage | Struggling to pay mortgage | 92 | 6.3% |
| NATIONSTAR MORTGAGE | Other type of mortgage | Trouble during payment process | 89 | 6.1% |
| NATIONSTAR MORTGAGE | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 6 | 0.4% |
| NATIONSTAR MORTGAGE | Reverse mortgage | Closing on a mortgage | 13 | 0.9% |
| NATIONSTAR MORTGAGE | Reverse mortgage | Struggling to pay mortgage | 30 | 2.1% |
| NATIONSTAR MORTGAGE | Reverse mortgage | Trouble during payment process | 61 | 4.2% |
| NATIONSTAR MORTGAGE | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.1% |
| NATIONSTAR MORTGAGE | VA mortgage | Closing on a mortgage | 1 | 0.1% |
| NATIONSTAR MORTGAGE | VA mortgage | Incorrect information on your report | 1 | 0.1% |
| NATIONSTAR MORTGAGE | VA mortgage | Problem with a credit reporting company's investigation into an existing problem | 2 | 0.1% |
| NATIONSTAR MORTGAGE | VA mortgage | Struggling to pay mortgage | 6 | 0.4% |
| NATIONSTAR MORTGAGE | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 43 | 3.0% |
| NATIONSTAR MORTGAGE | Conventional home mortgage | Closing on a mortgage | 27 | 1.9% |
| NATIONSTAR MORTGAGE | Conventional home mortgage | Incorrect information on your report | 22 | 1.5% |
| NATIONSTAR MORTGAGE | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 7 | 0.5% |
| NATIONSTAR MORTGAGE | Conventional home mortgage | Struggling to pay mortgage | 393 | 27.0% |
| NATIONSTAR MORTGAGE | Conventional home mortgage | Trouble during payment process | 425 | 29.2% |
| NATIONSTAR MORTGAGE | Conventional home mortgage | Unable to get your credit report or credit score | 1 | 0.1% |
| NATIONSTAR MORTGAGE | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 9 | 0.6% |
| NATIONSTAR MORTGAGE | FHA mortgage | Closing on a mortgage | 9 | 0.6% |
| NATIONSTAR MORTGAGE | FHA mortgage | Incorrect information on your report | 4 | 0.3% |
| NATIONSTAR MORTGAGE | FHA mortgage | Struggling to pay mortgage | 69 | 4.7% |
| NATIONSTAR MORTGAGE | FHA mortgage | Trouble during payment process | 78 | 5.4% |
| NATIONSTAR MORTGAGE | FHA mortgage | Unable to get your credit report or credit score | 1 | 0.1% |
| NATIONSTAR MORTGAGE | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 3 | 0.2% |