Charles River Bank Mortgage Rates, Fees & Info

Medway, MA

LEI: 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, Refi, and Cash Out Refi loans. Charles River Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, and Providence among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Charles River 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.

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Originations

82

Origination Dollar Volume (All Markets)

$28,020,000

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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 43 $14,795,000 $344,070 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 27 $8,175,000 $302,778 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $3,290,000 $548,333 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $1,760,000 $293,333 $0 0.00%
Charles River Bank's top markets include Boston, Worcester, Barnstable Town, and Providence among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 82 $28,020,000 $341,707 $0 0.00%

    For 2022, Charles River Bank's most frequently originated type of loan was Conventional, with 82 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 28 $12,730,000 $454,643 $0 0.00%
    Other 18 $2,110,000 $117,222 $0 0.00%
    Refi 17 $5,635,000 $331,471 $0 0.00%
    Cash Out Refi 17 $7,185,000 $422,647 $0 0.00%
    Home Improvement 2 $360,000 $180,000 $0 0.00%

    For 2022, Charles River Bank's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Other, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 82 $28,020,000 $341,707 $0 0.00%

    For 2022, Charles River Bank's most frequently cited loan duration was Other, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 24 $7,160,000 $298,333 $0 0.00%
    $100k-200k 20 $3,220,000 $161,000 $0 0.00%
    $400k-600k 19 $8,925,000 $469,737 $0 0.00%
    $100,000 or less 10 $550,000 $55,000 $0 0.00%
    $600k-1MM 5 $3,705,000 $741,000 $0 0.00%
    $1MM+ 4 $4,460,000 $1,115,000 $0 0.00%

    2022 saw Charles River Bank place emphasis on $200k-400k loans with 24 originations, totaling $7,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 24 $8,160,000 $340,000 $0 0.00%
    $150k-250k 22 $8,550,000 $388,636 $0 0.00%
    $75k-100k 11 $2,125,000 $193,182 $0 0.00%
    $250k+ 9 $4,515,000 $501,667 $0 0.00%
    $50k-75k 5 $805,000 $161,000 $0 0.00%
    $50k or less 2 $220,000 $110,000 $0 0.00%

    Charles River Bank lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $150k-250k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 82 $28,020,000 $341,707 $0 0.00%

    Charles River Bank lent most frequently to those with DTI ratios of Exempt%, with 82 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $24,360,000 $348,000 $0 0.00%
    Not applicable 7 $2,935,000 $419,286 $0 0.00%
    Not provided 5 $725,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.31%

    Charles River Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.39%

    Charles River Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 82 $28,020,000 $341,707

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    82 $28,020,000 $341,707