Webster Bank Mortgage Rates, Fees & Info

Waterbury, CT

LEI: WV0OVGBTLUP1XIUJE722

Tax ID: 06-0273620

5 stars - Updated: 5/27/24 - out of 5 stars, based on 61 reviews

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

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Mortgage Data

Review & Overview

Webster Bank is a small bank specializing in Home Purchase and Cash Out Refi loans. Webster 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.) Their top markets by origination volume include: New York, Boston, Bridgeport, New Haven, and Hartford among others. We have data for 61 markets. (Some data included below & more in-depth data is available with an active subscription.)

Webster 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. Webster 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.06% 5/27/24
30 Year Conventional Purchase 6.01% 5/27/24
30 Year Conventional Refi 6.31% 5/27/24
30 Year Cash-out Refi 6.22% 5/27/24
30 Year FHA Purchase 6.82% 5/27/24
30 Year FHA Refi 6.27% 5/27/24
30 Year VA Purchase 6.27% 5/27/24
15 Year Conventional Purchase 5.75% 5/27/24
15 Year Conventional Refi 6.03% 5/27/24
15 Year Cash-out Refi 6.03% 5/27/24
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.

Webster Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Webster 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.


Originations

3,778

Origination Dollar Volume (All Markets)

$2,934,760,000
Show all (7) awards

Relative Rate

Webster Bank's average 30 year fixed mortgage rate was 6.96%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.48%.

Relative Fees (Closing Costs)

Webster Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,470.

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 $9,089.

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) 758 $1,448,630,000 $1,911,121 $7,547 6.71%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 390 $263,960,000 $676,821 $6,460 6.48%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 433 $222,905,000 $514,792 $3,902 6.95%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 511 $126,705,000 $247,955 $1,345 6.99%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 775 $112,755,000 $145,490 $1,478 6.94%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 359 $110,135,000 $306,783 $2,458 6.99%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $79,960,000 $7,996,000 $491 6.76%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 35 $46,785,000 $1,336,714 $12,909 6.13%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $37,505,000 $37,505,000 $0 5.49%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $37,005,000 $37,005,000 $0 5.90%
SYRACUSE, NY (FHA|USDA|VA) 1 $34,005,000 $34,005,000 $0 5.80%
Torrington, CT (FHA|USDA|VA) 239 $33,365,000 $139,603 $1,521 7.00%
COLUMBUS, OH (FHA|USDA|VA) 2 $28,920,000 $14,460,000 $0 5.54%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $28,620,000 $14,310,000 $0 7.33%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $26,965,000 $26,965,000 $0 7.58%
GREENVILLE, NC (FHA|USDA|VA) 1 $26,705,000 $26,705,000 $0 5.33%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $24,645,000 $24,645,000 $0 6.87%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $24,155,000 $2,195,909 $5,574 6.86%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 8 $21,260,000 $2,657,500 $9,994 6.20%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 36 $19,770,000 $549,167 $4,354 7.16%
Gloversville, NY (FHA|USDA|VA) 1 $15,155,000 $15,155,000 $0 7.48%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $15,005,000 $15,005,000 $0 5.06%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $13,245,000 $13,245,000 $0 5.57%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 38 $12,770,000 $336,053 $2,340 7.06%
Malone, NY (FHA|USDA|VA) 1 $12,655,000 $12,655,000 $0 7.10%
SPRINGFIELD, MA (FHA|USDA|VA) 27 $12,355,000 $457,593 $2,417 6.65%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 25 $11,455,000 $458,200 $4,368 6.67%
WORCESTER, MA-CT (FHA|USDA|VA) 22 $10,750,000 $488,636 $3,931 6.34%
PITTSFIELD, MA (FHA|USDA|VA) 5 $10,255,000 $2,051,000 $3,680 7.15%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 9 $8,995,000 $999,444 $6,891 6.36%
Rockingham, NC (FHA|USDA|VA) 1 $8,455,000 $8,455,000 $0 6.01%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $8,355,000 $8,355,000 $0 6.86%
Outside of Metro Areas 13 $8,035,000 $618,077 $7,671 6.26%
OCEAN CITY, NJ (FHA|USDA|VA) 5 $6,305,000 $1,261,000 $11,426 6.05%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 6 $4,080,000 $680,000 $8,867 6.77%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $2,735,000 $911,667 $5,731 6.88%
Key West, FL (FHA|USDA|VA) 1 $2,105,000 $2,105,000 $13,649 5.88%
GLENS FALLS, NY (FHA|USDA|VA) 4 $1,990,000 $497,500 $21,860 6.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,820,000 $455,000 $5,058 6.34%
PITTSBURGH, PA (FHA|USDA|VA) 2 $1,790,000 $895,000 $9,685 6.44%
Vineyard Haven, MA (FHA|USDA|VA) 3 $1,655,000 $551,667 $6,386 6.95%
Georgetown, SC (FHA|USDA|VA) 1 $1,445,000 $1,445,000 $11,618 6.88%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $0 6.25%
Barre, VT (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $6,862 7.38%
WILMINGTON, NC (FHA|USDA|VA) 1 $795,000 $795,000 $2,878 5.88%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 3 $765,000 $255,000 $5,070 6.87%
Laconia, NH (FHA|USDA|VA) 2 $650,000 $325,000 $4,773 6.68%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $535,000 $535,000 $4,305 6.13%
KINGSTON, NY (FHA|USDA|VA) 4 $520,000 $130,000 $543 7.18%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $465,000 $465,000 $9,456 7.63%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $445,000 $148,333 $2,049 6.99%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,762 6.50%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,426 5.38%
UTICA-ROME, NY (FHA|USDA|VA) 2 $330,000 $165,000 $0 8.37%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,084 5.38%
Rutland, VT (FHA|USDA|VA) 1 $175,000 $175,000 $4,951 6.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $125,000 $125,000 $541 7.24%
Olean, NY (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.75%
Cortland, NY (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.74%
ROCHESTER, NY (FHA|USDA|VA) 1 $75,000 $75,000 $1,102 7.49%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $70,000 $35,000 $498 7.30%
Webster Bank's top markets include New York, Boston, Bridgeport, New Haven, and Hartford among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,013 $2,636,755,000 $1,309,863 $4,494 6.38%
    HELOC 1,754 $295,350,000 $168,387 n/a 7.38%
    FHA 11 $2,655,000 $241,364 $8,348 5.70%

    For 2023, Webster Bank's most frequently originated type of loan was Conventional, with 2,013 originations. Their 2nd most popular type was HELOC, with 1,754 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,139 $1,188,925,000 $1,043,832 $7,549 6.10%
    Refi 1,093 $562,875,000 $514,982 $920 7.21%
    Home Improvement 925 $210,655,000 $227,735 $819 7.16%
    Other 550 $66,820,000 $121,491 $424 7.19%
    Cash Out Refi 71 $905,485,000 $12,753,310 $6,865 6.07%

    For 2023, Webster Bank's most frequently cited loan purpose was Home Purchase, with 1,139 originations. The 2nd most popular reason was Refi, with 1,093 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,920 $1,073,190,000 $367,531 $6,470 6.96%
    10 Year 278 $139,170,000 $500,612 $314 6.02%
    15 Year 173 $17,755,000 $102,630 $795 6.63%
    5 Year 161 $1,183,785,000 $7,352,702 $305 6.23%
    20 Year 150 $26,280,000 $175,200 $468 6.99%
    30+ year 50 $216,500,000 $4,330,000 $6,369 6.80%
    Other 44 $276,390,000 $6,281,591 $576 6.74%
    3 Year 1 $1,405,000 $1,405,000 $0 6.25%
    1 Year 1 $285,000 $285,000 $0 10.50%

    For 2023, Webster Bank's most frequently cited loan duration was 30 Year, with 2,920 originations. The 2nd most popular length was 10 Year, with 278 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 883 $99,095,000 $112,225
    $1k-2k 541 $466,595,000 $862,468
    $5k+ 180 $174,100,000 $967,222
    $3k-4k 49 $37,685,000 $769,082
    $4k-5k 42 $34,730,000 $826,905
    $2k-3k 40 $26,350,000 $658,750

    Webster Bank's average total fees were $6,470, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 883 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 1,568 $927,260,000 $591,365
    7-8% 1,480 $666,150,000 $450,101
    5-6% 521 $1,187,215,000 $2,278,724
    Over 8% 136 $84,710,000 $622,868
    <2.5% 42 $1,330,000 $31,667
    4-5% 28 $63,870,000 $2,281,071
    3-4% 3 $4,225,000 $1,408,333

    During 2023, Webster Bank's average interest rate for loans was 6.96%, while their most frequently originated rate bucket for loans was 6-7%, with 1,568 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,104 $59,950,000 $54,303 $322 6.85%
    $100k-200k 866 $113,530,000 $131,097 $1,375 7.14%
    $200k-400k 761 $197,845,000 $259,980 $4,064 7.08%
    $1MM+ 415 $2,125,475,000 $5,121,627 $10,200 6.26%
    $600k-1MM 395 $324,405,000 $821,278 $8,543 6.30%
    $400k-600k 237 $113,555,000 $479,135 $6,147 6.91%

    2023 saw Webster Bank place emphasis on $100,000 or less loans with 1,104 originations, totaling $59,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 1,027 $731,085,000 $711,865 $8,257 6.70%
    $150k-250k 738 $199,680,000 $270,569 $4,013 7.03%
    $100k-150k 626 $87,310,000 $139,473 $1,632 7.05%
    $50k-75k 440 $43,480,000 $98,818 $1,280 6.69%
    $75k-100k 413 $50,105,000 $121,320 $1,747 6.82%
    $50k or less 213 $15,825,000 $74,296 $962 6.85%

    Webster Bank lent most frequently to those with incomes in the $250k+ range, with 1,027 originations. The second most popular income band? $150k-250k, with 738 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 681 $209,175,000 $307,159 $4,079 6.91%
    30-36% 639 $238,625,000 $373,435 $5,207 6.77%
    50-60% 275 $34,495,000 $125,436 $270 7.22%
    49% 261 $37,955,000 $145,421 $878 7.11%
    <20% 229 $75,175,000 $328,275 $4,336 6.88%
    42% 169 $109,155,000 $645,888 $7,401 6.54%
    39% 156 $75,880,000 $486,410 $5,429 6.69%
    41% 147 $72,365,000 $492,279 $6,580 6.68%
    37% 132 $48,530,000 $367,652 $4,494 6.75%
    40% 126 $57,010,000 $452,460 $6,376 6.64%
    38% 107 $39,645,000 $370,514 $5,386 6.80%
    43% 104 $30,540,000 $293,654 $4,017 6.95%
    44% 101 $29,055,000 $287,673 $3,573 6.65%
    48% 90 $15,940,000 $177,111 $892 7.16%
    36% 89 $35,305,000 $396,685 $4,643 6.45%
    46% 80 $12,770,000 $159,625 $1,048 7.02%
    47% 75 $11,645,000 $155,267 $1,094 6.91%
    45% 64 $10,930,000 $170,781 $1,440 6.92%
    >60% 3 $195,000 $65,000 $163 4.62%

    Webster Bank lent most frequently to those with DTI ratios of 20-30%, with 681 originations. The next most common DTI ratio? 30-36%, with 639 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 247 $1,788,655,000 $7,241,518 $0 6.64%
    White 2,851 $855,435,000 $300,047 $4,261 6.92%
    Not provided 348 $139,760,000 $401,609 $5,339 6.69%
    Asian 184 $116,380,000 $632,500 $6,798 6.59%
    Black 134 $30,080,000 $224,478 $3,354 6.28%
    American Indian 11 $4,045,000 $367,727 $4,288 6.97%
    Native Hawaiian or Islander 3 $405,000 $135,000 $1,857 6.70%

    Approval Rates

    Total approvals of all applications
    81.42%

    Webster Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.94%

    Webster Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,778 $2,934,760,000 $776,803

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,778 $2,934,760,000 $776,803

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 985 $239,855,000 $243,508 $1,033 7.19%
    40-60% 463 $964,115,000 $2,082,322 $3,734 6.93%
    60-80% 695 $1,276,845,000 $1,837,187 $8,399 6.52%
    80-100% 452 $338,000,000 $747,788 $7,573 6.19%
    Under 20% 1,183 $115,945,000 $98,009 $371 6.96%