Hingham Institution For Savings Mortgage Rates, Fees & Info

Hingham, MA

LEI: 2549009GDCGUR2T6KU55

Tax ID: 04-1442480

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Hingham Institution For Savings is a smaller mortgage company specializing in Home Purchase and Refi loans. Hingham Institution For Savings has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Washington, Barnstable Town, Providence, and Worcester among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Hingham Institution For Savings 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. Hingham Institution For Savings is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.30% 11/21/24
    30 Year Conventional Refi 6.23% 11/21/24
    15 Year Conventional Purchase 5.67% 11/21/24
    15 Year Conventional Refi 6.07% 11/21/24
    15 Year Cash-out Refi 6.07% 11/21/24
    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.

    Hingham Institution For Savings Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Hingham Institution For Savings. 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

    401

    Origination Dollar Volume (All Markets)

    $361,805,000

    Employee count

    96

    Awards

    Hingham Institution for Savings 30 Year Conventional Loans gold
    Show all (1) awards

    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) 333 $288,085,000 $865,120 $3,707 4.73%
    Outside of Metro Areas 41 $39,695,000 $968,171 $5,028 4.72%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $17,870,000 $2,233,750 $0 4.61%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 13 $13,215,000 $1,016,538 $4,889 4.43%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $1,580,000 $790,000 $0 4.75%
    WORCESTER, MA-CT (FHA|USDA|VA) 4 $1,360,000 $340,000 $3,899 4.88%
    Hingham Institution For Savings's top markets include Boston, Washington, Barnstable Town, Providence, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Hingham Institution for Savings based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    Methuen Cooperative Bank
    Similarity Rank: 330
    The Cooperative Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 401 $361,805,000 $902,257 $3,883 4.72%

    For 2018, Hingham Institution For Savings's most frequently originated type of loan was Conventional, with 401 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 272 $230,860,000 $848,750 $3,781 4.81%
    Refi 106 $119,710,000 $1,129,340 $4,271 4.53%
    Home Improvement 18 $9,480,000 $526,667 $3,808 4.50%
    Other 4 $1,120,000 $280,000 $3,052 4.88%
    NA 1 $635,000 $635,000 $3,932 5.25%

    For 2018, Hingham Institution For Savings's most frequently cited loan purpose was Home Purchase, with 272 originations. The 2nd most popular reason was Refi, with 106 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 146 $141,090,000 $966,370 $3,263 4.75%
    30+ year 110 $62,840,000 $571,273 $3,975 4.41%
    30 Year 101 $55,395,000 $548,465 $3,977 4.73%
    Other 29 $79,165,000 $2,729,828 $0 5.55%
    20 Year 7 $17,105,000 $2,443,571 $2,854 4.51%
    1 Year 5 $4,345,000 $869,000 $0 5.88%
    10 Year 2 $660,000 $330,000 $2,554 4.44%
    3 Year 1 $1,205,000 $1,205,000 $0 5.50%

    For 2018, Hingham Institution For Savings's most frequently cited loan duration was 15 Year, with 146 originations. The 2nd most popular length was 30+ year, with 110 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 237 $121,835,000 $514,072
    $1k-2k 4 $5,940,000 $1,485,000

    Hingham Institution For Savings's average total fees were $3,977, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 237 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 240 $201,270,000 $838,625
    5-6% 81 $78,555,000 $969,815
    3-4% 72 $51,760,000 $718,889
    6-7% 8 $30,220,000 $3,777,500

    During 2018, Hingham Institution For Savings's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 4-5%, with 240 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 123 $36,935,000 $300,285 $3,172 4.75%
    $1MM+ 87 $222,565,000 $2,558,218 $6,925 4.76%
    $600k-1MM 79 $59,755,000 $756,392 $4,542 4.62%
    $400k-600k 78 $37,700,000 $483,333 $3,784 4.74%
    $100k-200k 33 $4,765,000 $144,394 $2,609 4.70%
    $100,000 or less 1 $85,000 $85,000 $2,141 4.63%

    2018 saw Hingham Institution For Savings place emphasis on $200k-400k loans with 123 originations, totaling $36,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 64 $62,690,000 $979,531 $5,218 4.40%
    $100k-150k 50 $19,700,000 $394,000 $3,531 4.55%
    $75k-100k 46 $13,230,000 $287,609 $3,106 4.82%
    $150k-250k 43 $24,135,000 $561,279 $4,033 4.46%
    $50k-75k 31 $6,965,000 $224,677 $2,932 4.72%
    $50k or less 7 $1,055,000 $150,714 $2,576 4.21%

    Hingham Institution For Savings lent most frequently to those with incomes in the $250k+ range, with 64 originations. The second most popular income band? $100k-150k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $34,355,000 $483,873 $3,749 4.61%
    30-36% 65 $33,895,000 $521,462 $3,842 4.63%
    <20% 28 $21,240,000 $758,571 $4,460 4.44%
    38% 13 $5,555,000 $427,308 $3,586 4.75%
    39% 11 $6,405,000 $582,273 $4,038 4.84%
    36% 9 $4,125,000 $458,333 $3,863 4.60%
    40% 6 $3,250,000 $541,667 $4,079 4.69%
    37% 6 $2,600,000 $433,333 $3,722 4.52%
    44% 2 $540,000 $270,000 $3,115 4.56%
    48% 1 $2,005,000 $2,005,000 $9,928 5.63%
    >60% 1 $505,000 $505,000 $4,448 4.50%

    Hingham Institution For Savings lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 66 $123,680,000 $1,873,939 $0 5.09%
    White 136 $99,550,000 $731,985 $4,213 4.46%
    Not provided 69 $84,315,000 $1,221,957 $4,369 4.66%
    Asian 115 $44,125,000 $383,696 $3,302 4.85%
    Black 4 $3,900,000 $975,000 $6,951 4.78%
    Vietnamese 2 $3,000,000 $1,500,000 $0 4.76%
    Chinese 8 $2,150,000 $268,750 $3,117 4.81%
    American Indian 1 $1,085,000 $1,085,000 $5,979 4.50%

    Approval Rates

    Total approvals of all applications
    95.34%

    Hingham Institution For Savings has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    89.78%

    Hingham Institution For Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 401 $361,805,000 $902,257

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 52 $138,360,000 $2,660,769
    Single Family (1-4 Units):Site-Built 349 $223,445,000 $640,244

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $30,795,000 $879,857 $3,253 4.56%
    40-60% 116 $113,510,000 $978,534 $3,777 4.87%
    60-80% 179 $179,875,000 $1,004,888 $4,089 4.81%
    80-100% 24 $16,660,000 $694,167 $4,326 4.27%
    Under 20% 18 $7,360,000 $408,889 $3,753 4.76%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Hingham Institution for Savings 55 Main Street Hingham, MA 2043 Full Service B&M $288,505
    Hingham Institution for Savings 71 Main Street Hingham, MA 2043 Limited, Drive-thru $0
    Hingham Institution for Savings 80 Charles Street Boston, MA 2114 Full Service B&M $57,423
    Hingham Institution for Savings 5 Assinippi Avenue Hanover, MA 2339 Full Service B&M $115,292
    Hingham Institution for Savings 540 Tremont Street Boston, MA 2116 Full Service B&M $66,099
    Hingham Institution for Savings 401 Nantasket Avenue Hull, MA 2045 Full Service B&M $63,898
    Hingham Institution for Savings 49 Main Street Hingham, MA 2043 Limited, Administrative $579,751
    Hingham Institution for Savings 13 Elm Street Cohasset, MA 2025 Full Service B&M $53,002
    Hingham Institution for Savings 300 Linden Ponds Way Hingham, MA 2043 Full Service B&M $81,975
    Hingham Institution for Savings 32 Pleasant Street South Weymouth, MA 2190 Full Service B&M $87,668
    Hingham Institution for Savings 35 Main Street Nantucket, MA 2554 Full Service B&M $71,617
    Hingham Institution for Savings 37 Whiting Street South Hingham, MA 2043 Full Service B&M $123,873
    Hingham Institution for Savings 400 Gannett Road North Scituate, MA 2066 Full Service B&M $64,739

    For 2018, Hingham Institution For Savings had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $94,169
    Net interest income $65,785
    Total noninterest income $1,288
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $292
    Trading account gains and fees $0
    Additional Noninterest Income $996
    Pre-tax net operating income $45,752
    Securities gains (or losses, -) $-3,023
    Income before extraordinary items $30,399
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $30,399
    Minority interest net income $0
    Net income $30,399
    Sale, conversion, retirement of capital stock, net $113
    Net operating income $32,787

    Hingham Institution For Savings's gross interest income from loans was $94,169,000.
    Hingham Institution For Savings's net interest income from loans was $65,785,000.
    Hingham Institution For Savings's fee based income from loans was $292,000.
    Hingham Institution For Savings's net income from loans was $30,399,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $28,384
    Provision for credit losses $1,270
    Total noninterest expense $20,051
    Salaries and employee benefits $12,658
    Premises and equipment expense $1,851
    Additional noninterest expense $5,542
    Applicable income taxes $12,330
    Net charge-offs $-1
    Cash dividends $4,094

    Hingham Institution For Savings's interest expense for loans was $28,384,000.
    Hingham Institution For Savings's payroll and benefits expense were $12,658,000.
    Hingham Institution For Savings's property, plant and equipment expenses $1,851,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,581,122
    Deposits held in domestic offices $1,581,122
    Deposits by Individuals, partnerships, and corporations $1,372,690
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $113,345
    Deposits by Commercial banks and other depository institutions in U.S. $95,087
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $226,605
    Demand deposits $214,127
    Nontransaction accounts $1,354,517
    Money market deposit accounts (MMDAs) $450,614
    Other savings deposits (excluding MMDAs) $152,587
    Total time deposits $751,316
    Total time and savings deposits $1,366,995
    Noninterest-bearing deposits $214,127
    Interest-bearing deposits $1,366,995
    Retail deposits $1,174,133
    IRAs and Keogh plan accounts $38,389
    Brokered deposits $226,019
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,408,613
    Cash & Balances due from depository institutions $295,860
    Interest-bearing balances $287,856
    Total securities $38,575
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,009,314
    Loan and leases loss allowance $13,808
    Trading account assets $0
    Bank premises and fixed assets $14,553
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $50,311

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,408,613
    Total Liabilities $2,196,037
    Total deposits $1,581,122
    Interest-bearing deposits $1,366,995
    Deposits held in domestic offices $1,581,122
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $607,351
    Subordinated debt $0
    All other liabilities $7,564

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,009,314
    Loan and leases loss allowance $13,808
    Total loans and leases (domestic) $2,023,122
    All real estate loans $2,022,553
    Real estate loans in domestic offices $2,022,553
    Construction and development loans $142,651
    Residential 1-4 family construction $90,153
    Other construction, all land development and other land $52,498
    Loans secured by nonfarm nonresidential properties $417,838
    Nonfarm nonresidential secured by owner-occupied properties $29,837
    Commercial real estate & other non-farm, non-residential $388,001
    Multifamily residential real estate $407,227
    1-4 family residential loans $1,054,837
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $128
    To non-U.S. addressees $0
    Loans to individuals $366
    Credit card loans $0
    Related Plans $97
    Consumer Auto Loans $0
    Other loans to individuals $269
    All other loans & leases $75
    Loans to foreign governments and official institutions $0
    Other loans $75
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,398
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Hingham Institution for Savings had $2,009,314,000 of loans outstanding in 2018. $2,022,553,000 of loans were in real estate loans. $142,651,000 of loans were in development loans. $407,227,000 of loans were in multifamily mortgage loans. $1,054,837,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 269 $100,095 $372,100
    Nonfarm, nonresidential loans - <$100k 7 $410 $58,571
    Nonfarm, nonresidential loans - $100-250k 67 $10,414 $155,433
    Nonfarm, nonresidential loans - $250k-1MM 195 $89,271 $457,800
    Commercial & Industrial, US addressed loans - <$1MM 29 $120 $4,138
    Commercial & Industrial, US addressed loans - <$100k 27 $111 $4,111
    Commercial & Industrial, US addressed loans - $100-250k 1 $5 $5,000
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $4 $4,000