Charles River Bank Mortgage Rates, Fees & Info
Medway, MALEI: 254900639EOJ1QZC2567
Tax ID: 27-2499211
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Charles River Bank is a smaller bank specializing in Home Purchase and Refi loans. Charles River Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, Barnstable Town, and Laconia among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Charles River 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.
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Originations
47Origination Dollar Volume (All Markets)
$14,755,000Top 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 26 | $8,490,000 | $326,538 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 12 | $2,650,000 | $220,833 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 5 | $1,905,000 | $381,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $1,315,000 | $438,333 | $0 | 0.00% |
| Laconia, NH (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $14,755,000 | $313,936 | $0 | 0.00% |
For 2023, Charles River Bank's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
For 2023, Charles River Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Other, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 47 | $14,755,000 | $313,936 | $0 | 0.00% |
For 2023, Charles River Bank's most frequently cited loan duration was Other, with 47 originations.
Loan Sizing
2023 saw Charles River Bank place emphasis on $200k-400k loans with 18 originations, totaling $5,230,000 in origination value.
Applicant Income
Charles River Bank lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $100k-150k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 47 | $14,755,000 | $313,936 | $0 | 0.00% |
Charles River Bank lent most frequently to those with DTI ratios of Exempt%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.36%
Charles River Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.98%
Charles River Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 47 | $14,755,000 | $313,936 |