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 Refi and Home Purchase loans. Hingham Institution For Savings has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Washington, Vineyard Haven, Barnstable Town, and Providence among others. We have data for 8 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

    388

    Origination Dollar Volume (All Markets)

    $459,660,000

    Employee count

    87

    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) 337 $398,685,000 $1,183,042 $3,772 3.77%
    Outside of Metro Areas 29 $31,965,000 $1,102,241 $6,104 3.66%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 5 $15,325,000 $3,065,000 $0 3.47%
    Vineyard Haven, MA (FHA|USDA|VA) 2 $6,140,000 $3,070,000 $3,892 3.38%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 10 $3,460,000 $346,000 $3,338 3.36%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $3,170,000 $1,585,000 $2,879 3.63%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $740,000 $370,000 $3,116 3.69%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $175,000 $175,000 $2,654 3.63%
    Hingham Institution For Savings's top markets include Boston, Washington, Vineyard Haven, Barnstable Town, and Providence among others.

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

    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Bridgewater Savings Bank
    Similarity Rank: 600
    Triangle Credit Union
    Similarity Rank: 696
    NEW HAMPSHIRE
    Similarity Rank: 756
    NESC
    Similarity Rank: 772
    East Boston Savings Bank
    Similarity Rank: 798
    Sharon & Crescent United Credit Union
    Similarity Rank: 830
    QUINCY CREDIT UNION
    Similarity Rank: 876

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 388 $459,660,000 $1,184,691 $3,987 3.75%

    For 2020, Hingham Institution For Savings's most frequently originated type of loan was Conventional, with 388 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 224 $207,950,000 $928,348 $3,699 3.64%
    Home Purchase 143 $239,455,000 $1,674,510 $4,536 3.89%
    Home Improvement 16 $9,760,000 $610,000 $4,060 4.05%
    Other 5 $2,495,000 $499,000 $3,764 3.53%

    For 2020, Hingham Institution For Savings's most frequently cited loan purpose was Refi, with 224 originations. The 2nd most popular reason was Home Purchase, with 143 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 152 $91,150,000 $599,671 $4,094 3.58%
    15 Year 148 $220,920,000 $1,492,703 $3,141 3.69%
    Other 45 $89,635,000 $1,991,889 $3,266 4.36%
    20 Year 24 $38,230,000 $1,592,917 $3,642 3.82%
    30+ year 15 $12,955,000 $863,667 $4,820 3.88%
    10 Year 2 $6,110,000 $3,055,000 $3,302 3.38%
    1 Year 2 $660,000 $330,000 $0 5.81%

    For 2020, Hingham Institution For Savings's most frequently cited loan duration was 30 Year, with 152 originations. The 2nd most popular length was 15 Year, with 148 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 200 $110,460,000 $552,300
    $1k-2k 6 $7,020,000 $1,170,000

    Hingham Institution For Savings's average total fees were $4,094, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 200 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 310 $382,290,000 $1,233,194
    4-5% 60 $52,970,000 $882,833
    5-6% 12 $22,620,000 $1,885,000
    2.5-3% 6 $1,780,000 $296,667

    During 2020, Hingham Institution For Savings's average interest rate for loans was 3.58%, while their most frequently originated rate bucket for loans was 3-4%, with 310 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 115 $331,005,000 $2,878,304 $6,781 3.84%
    $200k-400k 92 $26,920,000 $292,609 $3,101 3.62%
    $400k-600k 79 $38,195,000 $483,481 $3,773 3.72%
    $600k-1MM 79 $60,395,000 $764,494 $4,739 3.81%
    $100k-200k 19 $2,815,000 $148,158 $2,582 3.64%
    $100,000 or less 4 $330,000 $82,500 $1,996 3.88%

    2020 saw Hingham Institution For Savings place emphasis on $1MM+ loans with 115 originations, totaling $331,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 63 $59,115,000 $938,333 $5,164 3.59%
    $150k-250k 52 $29,070,000 $559,038 $3,947 3.50%
    $100k-150k 41 $16,115,000 $393,049 $3,498 3.56%
    $75k-100k 25 $7,555,000 $302,200 $3,127 3.59%
    $50k-75k 19 $4,785,000 $251,842 $2,850 3.42%
    $50k or less 6 $840,000 $140,000 $2,511 3.60%

    Hingham Institution For Savings lent most frequently to those with incomes in the $250k+ range, with 63 originations. The second most popular income band? $150k-250k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 61 $31,525,000 $516,803 $3,884 3.54%
    30-36% 48 $27,880,000 $580,833 $3,885 3.48%
    <20% 45 $29,685,000 $659,667 $4,274 3.54%
    39% 10 $4,320,000 $432,000 $3,601 3.44%
    36% 10 $6,050,000 $605,000 $4,147 3.64%
    38% 8 $2,740,000 $342,500 $3,127 3.44%
    37% 8 $4,300,000 $537,500 $3,980 3.55%
    40% 6 $2,360,000 $393,333 $3,482 3.33%
    43% 4 $3,180,000 $795,000 $4,820 4.13%
    >60% 3 $2,925,000 $975,000 $5,598 4.29%
    41% 1 $565,000 $565,000 $4,688 4.13%
    48% 1 $295,000 $295,000 $3,620 3.88%
    50-60% 1 $1,655,000 $1,655,000 $6,067 4.38%

    Hingham Institution For Savings lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 187 $149,795,000 $801,043 $3,937 3.62%
    Not applicable 79 $148,225,000 $1,876,266 $0 3.95%
    Not provided 65 $128,185,000 $1,972,077 $4,698 3.85%
    Asian 43 $21,925,000 $509,884 $3,529 3.74%
    Other Asian 3 $4,965,000 $1,655,000 $6,206 3.42%
    Chinese 6 $3,880,000 $646,667 $3,990 3.65%
    Black 2 $1,370,000 $685,000 $5,312 4.56%
    Vietnamese 2 $840,000 $420,000 $0 4.50%
    Asian Indian 1 $475,000 $475,000 $4,050 3.75%

    Approval Rates

    Total approvals of all applications
    91.10%

    Hingham Institution For Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.06%

    Hingham Institution For Savings has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 388 $459,660,000 $1,184,691

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 72 $232,010,000 $3,222,361
    Single Family (1-4 Units):Site-Built 316 $227,650,000 $720,411

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 60 $27,610,000 $460,167 $3,303 3.60%
    40-60% 102 $114,290,000 $1,120,490 $3,968 3.78%
    60-80% 197 $305,965,000 $1,553,122 $4,505 3.77%
    80-100% 12 $6,590,000 $549,167 $4,003 3.55%
    Under 20% 17 $5,205,000 $306,176 $2,718 3.90%

    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 $148,751
    Hingham Institution For Savings 300 Linden Ponds Way Hingham, MA 2043 Full Service B&M $88,215
    Hingham Institution For Savings 35 Main Street Nantucket, MA 2554 Full Service B&M $73,966
    Hingham Institution For Savings 37 Whiting Street South Hingham, MA 2043 Full Service B&M $143,515
    Hingham Institution For Savings 401 Nantasket Avenue Hull, MA 2045 Full Service B&M $80,211
    Hingham Institution For Savings 49 Main Street Hingham, MA 2043 Limited, Administrative $0
    Hingham Institution For Savings 5 Assinippi Avenue Hanover, MA 2339 Full Service B&M $129,452
    Hingham Institution For Savings 540 Tremont Street Boston, MA 2116 Full Service B&M $73,134
    Hingham Institution For Savings 55 Main Street Hingham, MA 2043 Full Service B&M $1,247,124
    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 $78,982

    For 2020, Hingham Institution For Savings had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $106,362
    Net interest income $85,204
    Total noninterest income $1,276
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $155
    Trading account gains and fees $0
    Additional Noninterest Income $1,121
    Pre-tax net operating income $62,214
    Securities gains (or losses, -) $7,916
    Income before extraordinary items $50,771
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $50,771
    Minority interest net income $0
    Net income $50,771
    Sale, conversion, retirement of capital stock, net $228
    Net operating income $44,517

    Hingham Institution For Savings's gross interest income from loans was $106,362,000.
    Hingham Institution For Savings's net interest income from loans was $85,204,000.
    Hingham Institution For Savings's fee based income from loans was $155,000.
    Hingham Institution For Savings's net income from loans was $50,771,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $21,158
    Provision for credit losses $2,288
    Total noninterest expense $21,978
    Salaries and employee benefits $13,155
    Premises and equipment expense $1,908
    Additional noninterest expense $6,915
    Applicable income taxes $19,359
    Net charge-offs $260
    Cash dividends $5,279

    Hingham Institution For Savings's interest expense for loans was $21,158,000.
    Hingham Institution For Savings's payroll and benefits expense were $13,155,000.
    Hingham Institution For Savings's property, plant and equipment expenses $1,908,000.

    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 $2,148,509
    Deposits held in domestic offices $2,148,509
    Deposits by Individuals, partnerships, and corporations $1,695,389
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $157,058
    Deposits by Commercial banks and other depository institutions in U.S. $296,063
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $332,289
    Demand deposits $314,021
    Nontransaction accounts $1,816,221
    Money market deposit accounts (MMDAs) $602,571
    Other savings deposits (excluding MMDAs) $155,346
    Total time deposits $1,058,304
    Total time and savings deposits $1,834,489
    Noninterest-bearing deposits $314,021
    Interest-bearing deposits $1,834,488
    Retail deposits $1,646,326
    IRAs and Keogh plan accounts $36,471
    Brokered deposits $266,618
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,857,119
    Cash & Balances due from depository institutions $233,625
    Interest-bearing balances $226,827
    Total securities $66,230
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,495,358
    Loan and leases loss allowance $17,404
    Trading account assets $0
    Bank premises and fixed assets $16,312
    Other real estate owned $3,826
    Goodwill and other intangibles $0
    All other assets $41,768

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,857,119
    Total Liabilities $2,564,176
    Total deposits $2,148,509
    Interest-bearing deposits $1,834,488
    Deposits held in domestic offices $2,148,509
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $408,031
    Subordinated debt $0
    All other liabilities $7,636

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,495,358
    Loan and leases loss allowance $17,404
    Total loans and leases (domestic) $2,512,762
    All real estate loans $2,505,324
    Real estate loans in domestic offices $2,505,324
    Construction and development loans $163,920
    Residential 1-4 family construction $72,588
    Other construction, all land development and other land $91,332
    Loans secured by nonfarm nonresidential properties $648,977
    Nonfarm nonresidential secured by owner-occupied properties $135,778
    Commercial real estate & other non-farm, non-residential $513,199
    Multifamily residential real estate $649,086
    1-4 family residential loans $1,043,341
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $3,006
    To non-U.S. addressees $0
    Loans to individuals $461
    Credit card loans $0
    Related Plans $56
    Consumer Auto Loans $0
    Other loans to individuals $405
    All other loans & leases $3,971
    Loans to foreign governments and official institutions $0
    Other loans $3,971
    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 $1,068
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Hingham Institution for Savings had $2,495,358,000 of loans outstanding in 2020. $2,505,324,000 of loans were in real estate loans. $163,920,000 of loans were in development loans. $649,086,000 of loans were in multifamily mortgage loans. $1,043,341,000 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 212 $79,775 $376,297
    Nonfarm, nonresidential loans - <$100k 7 $487 $69,571
    Nonfarm, nonresidential loans - $100-250k 47 $7,121 $151,511
    Nonfarm, nonresidential loans - $250k-1MM 158 $72,167 $456,753
    Commercial & Industrial, US addressed loans - <$1MM 41 $1,955 $47,683
    Commercial & Industrial, US addressed loans - <$100k 37 $892 $24,108
    Commercial & Industrial, US addressed loans - $100-250k 3 $263 $87,667
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $800 $800,000