Fairfield County Bank Mortgage Rates, Fees & InfoRidgefield, CT
Tax ID: 06-0510330
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewFairfield County Bank is a smaller bank specializing in Home Purchase and Refi loans. Fairfield County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bridgeport, New York, New Haven, Hartford, and Bennington among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)
Fairfield County Bank 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. Fairfield County 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|
|30 Year Conventional Purchase||5.86%||9/18/23|
|30 Year Conventional Refi||6.14%||9/18/23|
|30 Year Cash-out Refi||6.63%||9/18/23|
|15 Year Conventional Purchase||5.48%||9/18/23|
|15 Year Conventional Refi||5.68%||9/18/23|
|15 Year Cash-out Refi||5.68%||9/18/23|
|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.|
Fairfield County Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Fairfield County 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)$201,575,000
Fairfield County 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 -0.58%.
Relative Fees (Closing Costs)
Fairfield County Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,367.
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)||226||$159,450,000||$705,531||$6,090||4.02%|
|New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)||20||$21,320,000||$1,066,000||$6,549||4.09%|
|NEW HAVEN-MILFORD, CT (FHA|USDA|VA)||19||$9,805,000||$516,053||$5,582||4.94%|
|HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)||12||$4,890,000||$407,500||$6,684||5.30%|
|Bennington, VT (FHA|USDA|VA)||1||$3,085,000||$3,085,000||$0||3.50%|
|Torrington, CT (FHA|USDA|VA)||6||$2,680,000||$446,667||$6,037||4.28%|
|NORWICH-NEW LONDON, CT (FHA|USDA|VA)||1||$345,000||$345,000||$6,201||4.88%|
We use machine learning to identify the top lenders compared against Fairfield County Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 390
Similarity Rank: 394
Similarity Rank: 455
Similarity Rank: 590
Similarity Rank: 644
Similarity Rank: 696
Similarity Rank: 840
Similarity Rank: 972
Similarity Rank: 1145
Similarity Rank: 1338
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Fairfield County Bank's most frequently originated type of loan was Conventional, with 285 originations.
For 2022, Fairfield County Bank's most frequently cited loan purpose was Home Purchase, with 225 originations. The 2nd most popular reason was Refi, with 47 originations.
For 2022, Fairfield County Bank's most frequently cited loan duration was 30 Year, with 221 originations. The 2nd most popular length was Other, with 37 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Fairfield County Bank's average total fees were $6,367, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 138 originations.
During 2022, Fairfield County Bank's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 3-4%, with 102 originations.
2022 saw Fairfield County Bank place emphasis on $600k-1MM loans with 89 originations, totaling $64,145,000 in origination value.
Fairfield County Bank lent most frequently to those with incomes in the $250k+ range, with 90 originations. The second most popular income band? $150k-250k, with 88 originations.
Applicant Debt to Income Ratio
Fairfield County Bank lent most frequently to those with DTI ratios of 20-30%, with 82 originations. The next most common DTI ratio? 30-36%, with 76 originations.
Approval RatesTotal approvals of all applications
Fairfield County Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Fairfield County Bank has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|