Nutmeg State Financial Mortgage Rates, Fees & Info

Rocky Hill, CT

LEI: 549300XUMML1SMLTVQ62

Tax ID: 06-0655039

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Nutmeg State Financial is a smaller mortgage company specializing in Home Improvement, 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 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 a below average pick rate when compared to similar lenders. Nutmeg State Financial is typically a low 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.

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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






    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

    428

    Origination Dollar Volume (All Markets)

    $44,480,000

    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) 307 $31,075,000 $101,221 $629 3.53%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 78 $7,340,000 $94,103 $680 3.38%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 14 $3,830,000 $273,571 $490 4.38%
    Outside of Metro Areas 13 $795,000 $61,154 $283 2.63%
    Torrington, CT (FHA|USDA|VA) 7 $585,000 $83,571 $441 4.50%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 6 $550,000 $91,667 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 3 $305,000 $101,667 $1,219 3.25%
    Nutmeg State Financial's top markets include Hartford, New Haven, Bridgeport, Torrington, and Norwich among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Vermont (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.

    Stafford Savings Bank
    Similarity Rank: 266
    SIKORSKY FINANCIAL
    Similarity Rank: 320
    Collinsville Bank
    Similarity Rank: 490
    U S WIDE FINANCIAL LLC
    Similarity Rank: 608
    Thomaston Savings Bank
    Similarity Rank: 690
    Chelsea Groton Bank
    Similarity Rank: 760
    The Torrington Savings Bank
    Similarity Rank: 786
    Newtown Savings Bank
    Similarity Rank: 854
    Charter Oak Federal Credit Union
    Similarity Rank: 924
    Northwest Community Bank
    Similarity Rank: 945

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 428 $44,480,000 $103,925 $616 3.52%

    For 2020, Nutmeg State Financial's most frequently originated type of loan was Conventional, with 428 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 189 $12,055,000 $63,783 $24 4.55%
    Refi 86 $13,300,000 $154,651 $1,620 3.11%
    Other 67 $4,405,000 $65,746 $16 4.88%
    Cash Out Refi 67 $10,695,000 $159,627 $1,337 3.33%
    Home Purchase 19 $4,025,000 $211,842 $1,536 3.86%

    For 2020, Nutmeg State Financial's most frequently cited loan purpose was Home Improvement, with 189 originations. The 2nd most popular reason was Refi, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 341 $26,925,000 $78,959 $39 4.43%
    30 Year 32 $10,990,000 $343,438 $4,523 3.21%
    15 Year 22 $3,090,000 $140,455 $2,369 3.19%
    20 Year 15 $2,665,000 $177,667 $3,227 3.13%
    5 Year 12 $460,000 $38,333 $86 4.00%
    10 Year 6 $350,000 $58,333 $647 3.63%

    For 2020, Nutmeg State Financial's most frequently cited loan duration was Other, with 341 originations. The 2nd most popular length was 30 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 370 $29,200,000 $78,919
    $1k-2k 48 $13,190,000 $274,792
    $4k-5k 5 $1,135,000 $227,000
    $2k-3k 4 $730,000 $182,500
    $3k-4k 1 $225,000 $225,000

    Nutmeg State Financial's average total fees were $4,523, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 370 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 31 $7,865,000 $253,710
    2.5-3% 28 $5,190,000 $185,357
    4-5% 22 $1,970,000 $89,545
    <2.5% 7 $3,645,000 $520,714
    5-6% 1 $25,000 $25,000
    6-7% 1 $35,000 $35,000

    During 2020, Nutmeg State Financial's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 268 $12,180,000 $45,448 $74 4.30%
    $100k-200k 109 $14,965,000 $137,294 $980 3.28%
    $200k-400k 43 $11,385,000 $264,767 $2,297 3.26%
    $400k-600k 7 $3,375,000 $482,143 $4,467 3.33%
    $1MM+ 1 $2,575,000 $2,575,000 $6,853 2.50%

    2020 saw Nutmeg State Financial place emphasis on $100,000 or less loans with 268 originations, totaling $12,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 121 $13,045,000 $107,810 $403 3.78%
    $100k-150k 106 $9,180,000 $86,604 $583 3.48%
    $50k-75k 71 $5,045,000 $71,056 $621 3.49%
    $75k-100k 62 $5,100,000 $82,258 $634 3.62%
    $250k+ 40 $10,090,000 $252,250 $1,245 3.29%
    $50k or less 28 $2,020,000 $72,143 $708 3.13%

    Nutmeg State Financial lent most frequently to those with incomes in the $150k-250k range, with 121 originations. The second most popular income band? $100k-150k, with 106 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 357 $29,205,000 $81,807 $131 3.35%
    20-30% 26 $4,930,000 $189,615 $3,093 3.47%
    30-36% 20 $6,210,000 $310,500 $2,731 3.69%
    44% 4 $440,000 $110,000 $1,965 4.13%
    41% 3 $695,000 $231,667 $3,762 3.71%
    42% 3 $525,000 $175,000 $3,861 3.00%
    46% 2 $310,000 $155,000 $3,670 3.06%
    48% 2 $340,000 $170,000 $3,558 2.88%
    38% 2 $630,000 $315,000 $8,673 3.00%
    43% 2 $110,000 $55,000 $441 4.75%
    49% 2 $320,000 $160,000 $4,869 3.13%
    45% 2 $270,000 $135,000 $2,188 3.75%
    36% 1 $65,000 $65,000 $460 3.75%
    37% 1 $205,000 $205,000 $743 4.75%
    39% 1 $225,000 $225,000 $3,170 2.75%

    Nutmeg State Financial lent most frequently to those with DTI ratios of <20%, with 357 originations. The next most common DTI ratio? 20-30%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 220 $21,490,000 $97,682 $870 3.14%
    Not provided 190 $20,900,000 $110,000 $342 4.03%
    Black 8 $1,070,000 $133,750 $833 2.94%
    Asian 5 $665,000 $133,000 $0 0.00%
    Asian Indian 3 $265,000 $88,333 $140 4.75%
    Filipino 1 $85,000 $85,000 $0 0.00%
    American Indian 1 $5,000 $5,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.96%

    Nutmeg State Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.50%

    Nutmeg State Financial has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 428 $44,480,000 $103,925

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 428 $44,480,000 $103,925

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 119 $10,415,000 $87,521 $204 4.08%
    40-60% 52 $7,680,000 $147,692 $1,082 3.16%
    60-80% 54 $14,210,000 $263,148 $2,640 3.15%
    80-100% 24 $5,410,000 $225,417 $1,574 3.67%
    Under 20% 179 $6,765,000 $37,793 $15 4.72%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    NATIONSTAR MORTGAGE VA mortgage Trouble during payment process 52 4.3%
    NATIONSTAR MORTGAGE Home equity loan or line of credit (HELOC) Struggling to pay mortgage 5 0.4%
    NATIONSTAR MORTGAGE Home equity loan or line of credit (HELOC) Trouble during payment process 3 0.2%
    NATIONSTAR MORTGAGE Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 5 0.4%
    NATIONSTAR MORTGAGE Other type of mortgage Closing on a mortgage 5 0.4%
    NATIONSTAR MORTGAGE Other type of mortgage Improper use of your report 1 0.1%
    NATIONSTAR MORTGAGE Other type of mortgage Incorrect information on your report 1 0.1%
    NATIONSTAR MORTGAGE Other type of mortgage Struggling to pay mortgage 24 2.0%
    NATIONSTAR MORTGAGE Other type of mortgage Trouble during payment process 33 2.7%
    NATIONSTAR MORTGAGE Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 4 0.3%
    NATIONSTAR MORTGAGE Reverse mortgage Closing on a mortgage 4 0.3%
    NATIONSTAR MORTGAGE Reverse mortgage Struggling to pay mortgage 12 1.0%
    NATIONSTAR MORTGAGE Reverse mortgage Trouble during payment process 39 3.2%
    NATIONSTAR MORTGAGE VA mortgage Applying for a mortgage or refinancing an existing mortgage 7 0.6%
    NATIONSTAR MORTGAGE VA mortgage Closing on a mortgage 2 0.2%
    NATIONSTAR MORTGAGE VA mortgage Incorrect information on your report 1 0.1%
    NATIONSTAR MORTGAGE VA mortgage Struggling to pay mortgage 23 1.9%
    NATIONSTAR MORTGAGE Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 78 6.4%
    NATIONSTAR MORTGAGE Conventional home mortgage Closing on a mortgage 34 2.8%
    NATIONSTAR MORTGAGE Conventional home mortgage Improper use of your report 1 0.1%
    NATIONSTAR MORTGAGE Conventional home mortgage Incorrect information on your report 31 2.5%
    NATIONSTAR MORTGAGE Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 11 0.9%
    NATIONSTAR MORTGAGE Conventional home mortgage Struggling to pay mortgage 221 18.1%
    NATIONSTAR MORTGAGE Conventional home mortgage Trouble during payment process 435 35.7%
    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 22 1.8%
    NATIONSTAR MORTGAGE FHA mortgage Closing on a mortgage 5 0.4%
    NATIONSTAR MORTGAGE FHA mortgage Incorrect information on your report 11 0.9%
    NATIONSTAR MORTGAGE FHA mortgage Problem with a credit reporting company's investigation into an existing problem 5 0.4%
    NATIONSTAR MORTGAGE FHA mortgage Struggling to pay mortgage 55 4.5%
    NATIONSTAR MORTGAGE FHA mortgage Trouble during payment process 84 6.9%
    NATIONSTAR MORTGAGE Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 0.1%
    NATIONSTAR MORTGAGE Home equity loan or line of credit (HELOC) Closing on a mortgage 2 0.2%