Webster Bank Mortgage Rates, Fees & Info
Waterbury, CTLEI: WV0OVGBTLUP1XIUJE722
Tax ID: 06-0273620
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Mortgage Data
Review & Overview
Webster Bank is a mid-sized 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, Hartford, and New Haven 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.06% | 4/28/24 |
| 30 Year Conventional Purchase | 6.01% | 4/28/24 |
| 30 Year Conventional Refi | 6.31% | 4/28/24 |
| 30 Year Cash-out Refi | 6.22% | 4/28/24 |
| 30 Year FHA Purchase | 6.82% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.75% | 4/28/24 |
| 15 Year Conventional Refi | 6.03% | 4/28/24 |
| 15 Year Cash-out Refi | 6.03% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
7,427Origination Dollar Volume (All Markets)
$4,288,665,000Awards
Webster Bank - 2022
Webster Bank is a 2022 , due to their low .
For 2022, 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) | 1,576 | $1,753,790,000 | $1,112,811 | $8,627 | 3.92% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1,052 | $831,690,000 | $790,580 | $6,123 | 3.77% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 882 | $422,040,000 | $478,503 | $5,380 | 3.53% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1,469 | $236,215,000 | $160,800 | $2,575 | 3.89% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 861 | $196,635,000 | $228,380 | $2,523 | 3.74% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 746 | $186,900,000 | $250,536 | $3,525 | 3.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 19 | $141,005,000 | $7,421,316 | $17,225 | 3.86% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 14 | $85,640,000 | $6,117,143 | $10,120 | 4.69% |
| Torrington, CT (FHA|USDA|VA) | 369 | $61,525,000 | $166,734 | $2,933 | 3.84% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $54,405,000 | $54,405,000 | $0 | 5.44% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $50,755,000 | $16,918,333 | $7,414 | 4.38% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $40,350,000 | $20,175,000 | $10,352 | 3.38% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 39 | $32,095,000 | $822,949 | $10,862 | 4.11% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 70 | $26,890,000 | $384,143 | $4,618 | 3.72% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 41 | $24,285,000 | $592,317 | $5,255 | 3.95% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 5 | $21,265,000 | $4,253,000 | $6,325 | 4.45% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 37 | $12,995,000 | $351,216 | $4,160 | 4.21% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $12,640,000 | $6,320,000 | $29,467 | 3.43% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 51 | $12,335,000 | $241,863 | $4,172 | 3.66% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 50 | $9,790,000 | $195,800 | $3,089 | 3.74% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 6 | $6,950,000 | $1,158,333 | $10,629 | 3.97% |
| Lebanon, NH-VT (FHA|USDA|VA) | 12 | $6,890,000 | $574,167 | $7,568 | 3.72% |
| KINGSTON, NY (FHA|USDA|VA) | 7 | $6,265,000 | $895,000 | $6,759 | 4.92% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 6 | $4,680,000 | $780,000 | $6,598 | 3.48% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 6 | $4,590,000 | $765,000 | $5,352 | 4.38% |
| Outside of Metro Areas | 10 | $3,860,000 | $386,000 | $6,348 | 3.92% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $3,730,000 | $932,500 | $11,614 | 3.91% |
| Vineyard Haven, MA (FHA|USDA|VA) | 8 | $3,380,000 | $422,500 | $3,576 | 3.17% |
| ROCHESTER, NY (FHA|USDA|VA) | 5 | $3,155,000 | $631,000 | $4,356 | 3.97% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $2,340,000 | $1,170,000 | $22,545 | 2.44% |
| Hudson, NY (FHA|USDA|VA) | 2 | $2,170,000 | $1,085,000 | $7,692 | 3.13% |
| GLENS FALLS, NY (FHA|USDA|VA) | 3 | $2,145,000 | $715,000 | $7,104 | 4.71% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,070,000 | $345,000 | $7,127 | 4.02% |
| Laconia, NH (FHA|USDA|VA) | 4 | $1,940,000 | $485,000 | $4,267 | 3.00% |
| Concord, NH (FHA|USDA|VA) | 5 | $1,815,000 | $363,000 | $6,483 | 3.69% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $1,610,000 | $805,000 | $6,096 | 4.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 6 | $1,590,000 | $265,000 | $6,870 | 4.29% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $1,590,000 | $397,500 | $5,371 | 5.19% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $1,450,000 | $725,000 | $10,602 | 5.25% |
| Bennington, VT (FHA|USDA|VA) | 3 | $1,415,000 | $471,667 | $6,092 | 3.92% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $9,762 | 5.13% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 2 | $1,190,000 | $595,000 | $6,574 | 4.56% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 6 | $1,070,000 | $178,333 | $3,415 | 4.47% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $9,082 | 2.63% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $6,789 | 3.00% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $5,842 | 2.81% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $8,129 | 5.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $9,553 | 3.66% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 4.50% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $4,157 | 4.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $7,083 | 4.37% |
| PITTSFIELD, MA (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $0 | 2.91% |
| OCALA, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,724 | 5.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,654 | 4.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.74% |
| Keene, NH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,205 | 2.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,240 | 5.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.74% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.24% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.63% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.24% |
Similar Lenders
We use machine learning to identify the top lenders compared against Webster Bank 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 2022, Webster Bank's most frequently originated type of loan was Conventional, with 3,844 originations. Their 2nd most popular type was HELOC, with 3,571 originations.
Loan Reason
For 2022, Webster Bank's most frequently cited loan purpose was Home Purchase, with 2,361 originations. The 2nd most popular reason was Refi, with 2,027 originations.
Loan Duration/Length
For 2022, Webster Bank's most frequently cited loan duration was 30 Year, with 6,255 originations. The 2nd most popular length was 15 Year, with 365 originations.
Origination Fees/Closing Costs
Webster Bank's average total fees were $6,967, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,340 originations.
Interest Rates
During 2022, Webster Bank's average interest rate for loans was 3.65%, while their most frequently originated rate bucket for loans was 3-4%, with 1,910 originations.
Loan Sizing
2022 saw Webster Bank place emphasis on $100k-200k loans with 1,693 originations, totaling $227,915,000 in origination value.
Applicant Income
Webster Bank lent most frequently to those with incomes in the $250k+ range, with 2,013 originations. The second most popular income band? $150k-250k, with 1,974 originations.
Applicant Debt to Income Ratio
Webster Bank lent most frequently to those with DTI ratios of 20-30%, with 1,651 originations. The next most common DTI ratio? 30-36%, with 1,437 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.03%
Webster Bank has a below average approval rate.
Pick Rate
Approvals leading to origination82.13%
Webster Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 7,427 | $4,288,665,000 | $577,442 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7,427 | $4,288,665,000 | $577,442 |