Greenway Mortgage Funding Corp. Rates, Fees & Info
MIDDLETOWN, NJLEI: 549300YM15OICCNPH537
Tax ID: 27-3627801
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Mortgage Data
Review & Overview
Greenway Mortgage Funding Corp. is a smaller mortgage company specializing in Refi and Home Purchase loans. Greenway Mortgage Funding Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Poughkeepsie, Philadelphia, Bridgeport, and Miami among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)Greenway Mortgage Funding Corp. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Greenway Mortgage Funding Corp. 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.68% | 12/16/24 |
| 30 Year Conventional Refi | 6.62% | 12/16/24 |
| 30 Year Cash-out Refi | 6.72% | 12/16/24 |
| 30 Year FHA Purchase | 7.35% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.29% | 12/16/24 |
| 30 Year USDA Purchase | 6.49% | 12/16/24 |
| 15 Year Conventional Purchase | 6.20% | 12/16/24 |
| 15 Year Conventional Refi | 5.96% | 12/16/24 |
| 15 Year Cash-out Refi | 5.96% | 12/16/24 |
| 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. | ||
Greenway Mortgage Funding Corp. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,154Origination Dollar Volume (All Markets)
$397,360,000Awards
GREENWAY MORTGAGE FUNDING CORP. - 2020
GREENWAY MORTGAGE FUNDING CORP. is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 950 | $337,290,000 | $355,042 | $5,004 | 3.04% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 44 | $12,150,000 | $276,136 | $4,884 | 3.18% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 39 | $10,705,000 | $274,487 | $5,817 | 2.99% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 23 | $7,435,000 | $323,261 | $4,060 | 3.19% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 19 | $6,745,000 | $355,000 | $4,990 | 2.93% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 13 | $4,145,000 | $318,846 | $4,430 | 2.84% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 7 | $2,465,000 | $352,143 | $4,448 | 3.12% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 6 | $1,800,000 | $300,000 | $4,138 | 2.85% |
| Torrington, CT (FHA|USDA|VA) | 5 | $1,455,000 | $291,000 | $2,899 | 2.83% |
| KINGSTON, NY (FHA|USDA|VA) | 6 | $1,320,000 | $220,000 | $5,259 | 2.98% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $1,235,000 | $247,000 | $5,375 | 2.85% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $4,908 | 3.29% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $1,110,000 | $555,000 | $4,382 | 2.69% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $4,314 | 3.15% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $4,981 | 2.75% |
| Outside of Metro Areas | 3 | $805,000 | $268,333 | $5,288 | 2.79% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $4,667 | 3.08% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $2,677 | 2.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $6,303 | 2.75% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,413 | 2.88% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,322 | 3.38% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,800 | 3.25% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,318 | 2.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,677 | 3.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $9,433 | 3.13% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,381 | 2.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,748 | 3.38% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,536 | 2.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,933 | 2.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,444 | 3.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,054 | 2.88% |
| Hudson, NY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,857 | 5.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against GREENWAY MORTGAGE FUNDING CORP. 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
For 2020, Greenway Mortgage Funding Corp.'s most frequently originated type of loan was Conventional, with 1,041 originations. Their 2nd most popular type was FHA, with 90 originations.
Loan Reason
For 2020, Greenway Mortgage Funding Corp.'s most frequently cited loan purpose was Refi, with 505 originations. The 2nd most popular reason was Home Purchase, with 464 originations.
Loan Duration/Length
For 2020, Greenway Mortgage Funding Corp.'s most frequently cited loan duration was 30 Year, with 923 originations. The 2nd most popular length was 15 Year, with 133 originations.
Origination Fees/Closing Costs
Greenway Mortgage Funding Corp.'s average total fees were $5,261, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 753 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 526 | $184,220,000 | $350,228 |
| 3-4% | 463 | $160,365,000 | $346,361 |
| <2.5% | 142 | $45,780,000 | $322,394 |
| 4-5% | 21 | $6,565,000 | $312,619 |
| 5-6% | 2 | $430,000 | $215,000 |
During 2020, Greenway Mortgage Funding Corp.'s average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 2.5-3%, with 526 originations.
Loan Sizing
2020 saw Greenway Mortgage Funding Corp. place emphasis on $200k-400k loans with 619 originations, totaling $184,015,000 in origination value.
Applicant Income
Greenway Mortgage Funding Corp. lent most frequently to those with incomes in the $100k-150k range, with 326 originations. The second most popular income band? $150k-250k, with 313 originations.
Applicant Debt to Income Ratio
Greenway Mortgage Funding Corp. lent most frequently to those with DTI ratios of 20-30%, with 203 originations. The next most common DTI ratio? 30-36%, with 174 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.68%
Greenway Mortgage Funding Corp. has an average approval rate.
Pick Rate
Approvals leading to origination73.83%
Greenway Mortgage Funding Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,154 | $397,360,000 | $344,333 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,154 | $397,360,000 | $344,333 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Greenway Mortgage Funding Corp. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |