People's United Bank Mortgage Rates, Fees & InfoBridgeport, CT
Tax ID: 06-1213065
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewPeople's United Bank is a smaller bank specializing in Refi and Home Purchase loans. People's United Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Bridgeport, New York, Boston, Hartford, and Burlington among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)
People's United Bank 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. People's United Bank 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.
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.
|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||5.88%||11/30/23|
|30 Year Conventional Purchase||6.34%||11/30/23|
|30 Year Conventional Refi||6.16%||11/30/23|
|30 Year Cash-out Refi||6.29%||11/30/23|
|30 Year FHA Purchase||7.06%||11/30/23|
|30 Year VA Purchase||6.04%||11/30/23|
|30 Year USDA Purchase||6.04%||11/30/23|
|15 Year Conventional Purchase||5.97%||11/30/23|
|15 Year Conventional Refi||5.95%||11/30/23|
|15 Year Cash-out Refi||5.95%||11/30/23|
|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.|
People's United Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from People's United Bank. 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.
Origination Dollar Volume (All Markets)$435,805,000
People's United Bank - 2022
People's United Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
Work for People's United Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
People's United Bank'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 -1.48%.
Relative Fees (Closing Costs)
People's United Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,993.
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|
|BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)||285||$106,835,000||$374,860||$4,624||3.14%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||166||$84,370,000||$508,253||$7,081||3.17%|
|Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA)||137||$57,785,000||$421,788||$3,818||3.23%|
|HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)||244||$43,820,000||$179,590||$4,370||3.36%|
|BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA)||36||$36,460,000||$1,012,778||$4,880||3.24%|
|NEW HAVEN-MILFORD, CT (FHA|USDA|VA)||123||$23,215,000||$188,740||$4,136||3.32%|
|SPRINGFIELD, MA (FHA|USDA|VA)||71||$10,295,000||$145,000||$3,722||3.36%|
|Outside of Metro Areas||34||$9,170,000||$269,706||$3,980||3.33%|
|PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA)||29||$7,095,000||$244,655||$3,747||3.33%|
|NORWICH-NEW LONDON, CT (FHA|USDA|VA)||29||$6,955,000||$239,828||$4,159||3.23%|
|GREENSBORO-HIGH POINT, NC (FHA|USDA|VA)||1||$6,605,000||$6,605,000||$0||2.46%|
|Detroit-Warren-Dearborn, MI (FHA|USDA|VA)||1||$5,355,000||$5,355,000||$0||2.46%|
|WORCESTER, MA-CT (FHA|USDA|VA)||17||$4,595,000||$270,294||$3,995||3.41%|
|NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA)||1||$4,175,000||$4,175,000||$0||2.46%|
|MANCHESTER-NASHUA, NH (FHA|USDA|VA)||12||$3,740,000||$311,667||$5,045||3.23%|
|Torrington, CT (FHA|USDA|VA)||22||$2,900,000||$131,818||$4,329||3.45%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||3||$2,705,000||$901,667||$5,460||3.08%|
|PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)||5||$2,525,000||$505,000||$5,430||3.19%|
|Key West, FL (FHA|USDA|VA)||1||$2,005,000||$2,005,000||$9,460||3.25%|
|Bennington, VT (FHA|USDA|VA)||5||$1,925,000||$385,000||$11,035||3.23%|
|Keene, NH (FHA|USDA|VA)||14||$1,700,000||$121,429||$4,201||3.50%|
|Barre, VT (FHA|USDA|VA)||7||$1,245,000||$177,857||$4,357||3.39%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$1,145,000||$1,145,000||$8,813||3.25%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||1||$1,005,000||$1,005,000||$6,436||2.88%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||2||$940,000||$470,000||$5,467||3.25%|
|TRENTON-PRINCETON, NJ (FHA|USDA|VA)||1||$885,000||$885,000||$6,255||2.75%|
|GLENS FALLS, NY (FHA|USDA|VA)||2||$810,000||$405,000||$4,370||3.50%|
|Lebanon, NH-VT (FHA|USDA|VA)||4||$760,000||$190,000||$3,491||3.38%|
|OCEAN CITY, NJ (FHA|USDA|VA)||1||$685,000||$685,000||$8,066||2.88%|
|Vineyard Haven, MA (FHA|USDA|VA)||1||$605,000||$605,000||$3,555||3.00%|
|Rutland, VT (FHA|USDA|VA)||3||$585,000||$195,000||$4,609||3.21%|
|Hudson, NY (FHA|USDA|VA)||1||$545,000||$545,000||$5,781||3.38%|
|Laconia, NH (FHA|USDA|VA)||2||$440,000||$220,000||$0||3.69%|
|ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA)||1||$375,000||$375,000||$4,599||2.75%|
|PITTSFIELD, MA (FHA|USDA|VA)||2||$360,000||$180,000||$3,167||3.25%|
|BANGOR, ME (FHA|USDA|VA)||1||$355,000||$355,000||$0||2.50%|
|KINGSTON, NY (FHA|USDA|VA)||1||$325,000||$325,000||$0||3.50%|
|Plattsburgh, NY (FHA|USDA|VA)||1||$255,000||$255,000||$0||3.25%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||1||$255,000||$255,000||$3,904||3.88%|
We use machine learning to identify the top lenders compared against People's United Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 52
Similarity Rank: 87
Similarity Rank: 138
Similarity Rank: 228
Similarity Rank: 264
Similarity Rank: 306
Similarity Rank: 315
Similarity Rank: 326
Similarity Rank: 336
Similarity Rank: 338
For 2022, People's United Bank's most frequently originated type of loan was HELOC, with 743 originations. Their 2nd most popular type was Conventional, with 517 originations.
For 2022, People's United Bank's most frequently cited loan purpose was Refi, with 444 originations. The 2nd most popular reason was Home Improvement, with 373 originations.
For 2022, People's United Bank's most frequently cited loan duration was 30 Year, with 1,153 originations. The 2nd most popular length was 15 Year, with 77 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
People's United Bank's average total fees were $4,993, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 231 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, People's United Bank's average interest rate for loans was 3.28%, while their most frequently originated rate bucket for loans was 3-4%, with 672 originations.
2022 saw People's United Bank place emphasis on $100k-200k loans with 383 originations, totaling $50,835,000 in origination value.
People's United Bank lent most frequently to those with incomes in the $150k-250k range, with 280 originations. The second most popular income band? $250k+, with 261 originations.
Applicant Debt to Income Ratio
People's United Bank lent most frequently to those with DTI ratios of 20-30%, with 296 originations. The next most common DTI ratio? 30-36%, with 264 originations.
Approval RatesTotal approvals of all applications
People's United Bank has a below average approval rate.
Pick RateApprovals leading to origination
People's United Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|