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, Worcester, Barnstable Town, and Providence 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

    371

    Origination Dollar Volume (All Markets)

    $411,075,000

    Employee count

    89

    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) 315 $313,175,000 $994,206 $3,854 4.40%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 7 $50,765,000 $7,252,143 $0 3.99%
    Outside of Metro Areas 30 $31,740,000 $1,058,000 $5,445 4.48%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $6,480,000 $3,240,000 $0 4.19%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 12 $5,880,000 $490,000 $3,733 3.95%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 5 $3,035,000 $607,000 $4,134 4.23%
    Hingham Institution For Savings's top markets include Boston, Washington, Worcester, Barnstable Town, and Providence among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Virginia (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.

    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    Middlesex Savings Bank
    Similarity Rank: 310
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 417
    QUINCY CREDIT UNION
    Similarity Rank: 435
    Members Plus Credit Union
    Similarity Rank: 505
    Sharon & Crescent United Credit Union
    Similarity Rank: 525
    Bristol County Savings Bank
    Similarity Rank: 544
    Milford Federal Bank
    Similarity Rank: 570
    St. Mary's Credit Union
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 371 $411,075,000 $1,108,019 $4,003 4.38%

    For 2019, Hingham Institution For Savings's most frequently originated type of loan was Conventional, with 371 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 195 $236,595,000 $1,213,308 $4,032 4.55%
    Refi 167 $163,305,000 $977,874 $3,952 4.15%
    Home Improvement 6 $8,490,000 $1,415,000 $3,288 5.04%
    Other 3 $2,685,000 $895,000 $6,931 5.00%

    For 2019, Hingham Institution For Savings's most frequently cited loan purpose was Home Purchase, with 195 originations. The 2nd most popular reason was Refi, with 167 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 137 $74,205,000 $541,642 $4,071 4.23%
    15 Year 116 $127,560,000 $1,099,655 $2,994 4.49%
    30+ year 72 $44,210,000 $614,028 $4,110 4.15%
    Other 27 $90,695,000 $3,359,074 $0 5.20%
    20 Year 14 $36,240,000 $2,588,571 $3,377 4.55%
    1 Year 3 $2,755,000 $918,333 $0 5.46%
    10 Year 2 $35,410,000 $17,705,000 $0 3.15%

    For 2019, Hingham Institution For Savings's most frequently cited loan duration was 30 Year, with 137 originations. The 2nd most popular length was 15 Year, with 116 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 215 $111,705,000 $519,558
    $1k-2k 12 $11,220,000 $935,000

    Hingham Institution For Savings's average total fees were $4,071, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 215 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 175 $177,295,000 $1,013,114
    3-4% 140 $166,760,000 $1,191,143
    5-6% 53 $65,325,000 $1,232,547
    6-7% 2 $660,000 $330,000
    7-8% 1 $1,035,000 $1,035,000

    During 2019, Hingham Institution For Savings's average interest rate for loans was 4.23%, while their most frequently originated rate bucket for loans was 4-5%, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 95 $285,925,000 $3,009,737 $6,892 4.51%
    $200k-400k 91 $26,885,000 $295,440 $3,208 4.35%
    $400k-600k 85 $41,755,000 $491,235 $3,910 4.32%
    $600k-1MM 67 $52,005,000 $776,194 $4,757 4.32%
    $100k-200k 28 $4,150,000 $148,214 $2,685 4.42%
    $100,000 or less 5 $355,000 $71,000 $2,092 4.27%

    2019 saw Hingham Institution For Savings place emphasis on $1MM+ loans with 95 originations, totaling $285,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 61 $33,495,000 $549,098 $3,934 4.13%
    $250k+ 53 $54,655,000 $1,031,226 $5,585 4.09%
    $100k-150k 42 $17,450,000 $415,476 $3,838 4.31%
    $75k-100k 36 $10,760,000 $298,889 $3,208 4.38%
    $50k-75k 28 $5,680,000 $202,857 $2,829 4.36%
    $50k or less 7 $885,000 $126,429 $2,394 3.82%

    Hingham Institution For Savings lent most frequently to those with incomes in the $150k-250k range, with 61 originations. The second most popular income band? $250k+, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $36,815,000 $490,867 $3,818 4.13%
    30-36% 51 $25,345,000 $496,961 $3,934 4.43%
    <20% 25 $16,495,000 $659,800 $4,323 4.01%
    38% 17 $11,115,000 $653,824 $4,191 4.24%
    39% 16 $6,450,000 $403,125 $3,576 4.21%
    37% 13 $5,395,000 $415,000 $3,674 4.41%
    36% 12 $6,100,000 $508,333 $4,173 4.33%
    41% 4 $1,400,000 $350,000 $3,363 3.78%
    40% 3 $2,145,000 $715,000 $4,408 3.79%
    42% 3 $1,455,000 $485,000 $3,758 3.63%
    50-60% 3 $4,115,000 $1,371,667 $6,494 4.17%
    >60% 2 $940,000 $470,000 $4,543 4.44%
    45% 1 $1,005,000 $1,005,000 $4,954 3.50%
    49% 1 $2,645,000 $2,645,000 $8,889 4.25%
    44% 1 $1,505,000 $1,505,000 $6,931 5.13%

    Hingham Institution For Savings lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 62 $163,930,000 $2,644,032 $0 4.58%
    White 163 $124,025,000 $760,890 $4,316 4.18%
    Not provided 54 $67,940,000 $1,258,148 $3,898 4.41%
    Asian 77 $43,155,000 $560,455 $3,414 4.66%
    Chinese 8 $4,910,000 $613,750 $3,022 4.45%
    Black 2 $3,350,000 $1,675,000 $5,596 4.81%
    Asian Indian 1 $1,755,000 $1,755,000 $6,854 4.75%
    Korean 2 $780,000 $390,000 $3,525 3.75%
    Vietnamese 1 $705,000 $705,000 $0 4.25%
    American Indian 1 $525,000 $525,000 $3,904 3.75%

    Approval Rates

    Total approvals of all applications
    92.68%

    Hingham Institution For Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.25%

    Hingham Institution For Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 371 $411,075,000 $1,108,019

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 64 $206,680,000 $3,229,375
    Single Family (1-4 Units):Site-Built 307 $204,395,000 $665,782

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $29,680,000 $549,630 $3,762 4.28%
    40-60% 102 $71,510,000 $701,078 $3,958 4.40%
    60-80% 183 $288,515,000 $1,576,585 $4,081 4.45%
    80-100% 22 $17,850,000 $811,364 $4,541 3.94%
    Under 20% 10 $3,520,000 $352,000 $3,264 4.74%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Hingham Institution for Savings 13 Elm Street Cohasset, MA 2025 Full Service B&M $125,829
    Hingham Institution for Savings 300 Linden Ponds Way Hingham, MA 2043 Full Service B&M $82,446
    Hingham Institution for Savings 32 Pleasant Street South Weymouth, MA 2190 Full Service B&M $95,757
    Hingham Institution for Savings 35 Main Street Nantucket, MA 2554 Full Service B&M $59,038
    Hingham Institution for Savings 37 Whiting Street South Hingham, MA 2043 Full Service B&M $115,602
    Hingham Institution for Savings 401 Nantasket Avenue Hull, MA 2045 Full Service B&M $68,543
    Hingham Institution for Savings 49 Main Street Hingham, MA 2043 Limited, Administrative $593,715
    Hingham Institution for Savings 5 Assinippi Avenue Hanover, MA 2339 Full Service B&M $116,412
    Hingham Institution for Savings 540 Tremont Street Boston, MA 2116 Full Service B&M $69,693
    Hingham Institution for Savings 55 Main Street Hingham, MA 2043 Full Service B&M $279,439
    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 $59,804

    For 2019, Hingham Institution For Savings had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $106,952
    Net interest income $66,902
    Total noninterest income $1,220
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $227
    Trading account gains and fees $0
    Additional Noninterest Income $993
    Pre-tax net operating income $45,940
    Securities gains (or losses, -) $7,608
    Income before extraordinary items $38,927
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $38,927
    Minority interest net income $0
    Net income $38,927
    Sale, conversion, retirement of capital stock, net $374
    Net operating income $32,916

    Hingham Institution For Savings's gross interest income from loans was $106,952,000.
    Hingham Institution For Savings's net interest income from loans was $66,902,000.
    Hingham Institution For Savings's fee based income from loans was $227,000.
    Hingham Institution For Savings's net income from loans was $38,927,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $40,050
    Provision for credit losses $1,567
    Total noninterest expense $20,615
    Salaries and employee benefits $12,826
    Premises and equipment expense $1,898
    Additional noninterest expense $5,891
    Applicable income taxes $14,621
    Net charge-offs $-1
    Cash dividends $4,654

    Hingham Institution For Savings's interest expense for loans was $40,050,000.
    Hingham Institution For Savings's payroll and benefits expense were $12,826,000.
    Hingham Institution For Savings's property, plant and equipment expenses $1,898,000.

    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 $1,829,231
    Deposits held in domestic offices $1,829,231
    Deposits by Individuals, partnerships, and corporations $1,507,255
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $139,238
    Deposits by Commercial banks and other depository institutions in U.S. $182,738
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $252,197
    Demand deposits $238,125
    Nontransaction accounts $1,577,034
    Money market deposit accounts (MMDAs) $452,235
    Other savings deposits (excluding MMDAs) $165,139
    Total time deposits $959,660
    Total time and savings deposits $1,591,106
    Noninterest-bearing deposits $238,125
    Interest-bearing deposits $1,591,106
    Retail deposits $1,348,119
    IRAs and Keogh plan accounts $38,449
    Brokered deposits $212,753
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,590,368
    Cash & Balances due from depository institutions $248,530
    Interest-bearing balances $239,473
    Total securities $50,803
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,227,083
    Loan and leases loss allowance $15,376
    Trading account assets $0
    Bank premises and fixed assets $15,923
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $48,029

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,590,368
    Total Liabilities $2,343,145
    Total deposits $1,829,231
    Interest-bearing deposits $1,591,106
    Deposits held in domestic offices $1,829,231
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $507,283
    Subordinated debt $0
    All other liabilities $6,631

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,227,083
    Loan and leases loss allowance $15,376
    Total loans and leases (domestic) $2,242,459
    All real estate loans $2,241,655
    Real estate loans in domestic offices $2,241,655
    Construction and development loans $197,772
    Residential 1-4 family construction $87,629
    Other construction, all land development and other land $110,143
    Loans secured by nonfarm nonresidential properties $485,379
    Nonfarm nonresidential secured by owner-occupied properties $35,668
    Commercial real estate & other non-farm, non-residential $449,711
    Multifamily residential real estate $487,341
    1-4 family residential loans $1,071,163
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $196
    To non-U.S. addressees $0
    Loans to individuals $571
    Credit card loans $0
    Related Plans $90
    Consumer Auto Loans $0
    Other loans to individuals $481
    All other loans & leases $37
    Loans to foreign governments and official institutions $0
    Other loans $37
    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 $1,372
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Hingham Institution for Savings had $2,227,083,000 of loans outstanding in 2019. $2,241,655,000 of loans were in real estate loans. $197,772,000 of loans were in development loans. $487,341,000 of loans were in multifamily mortgage loans. $1,071,163,000 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 241 $91,421 $379,340
    Nonfarm, nonresidential loans - <$100k 7 $468 $66,857
    Nonfarm, nonresidential loans - $100-250k 56 $8,682 $155,036
    Nonfarm, nonresidential loans - $250k-1MM 178 $82,271 $462,197
    Commercial & Industrial, US addressed loans - <$1MM 24 $96 $4,000
    Commercial & Industrial, US addressed loans - <$100k 23 $91 $3,957
    Commercial & Industrial, US addressed loans - $100-250k 1 $5 $5,000