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, San Francisco, Worcester, and Barnstable Town among others. We have data for 7 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 an average 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

    408

    Origination Dollar Volume (All Markets)

    $711,130,000

    Employee count

    75

    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) 321 $519,205,000 $1,617,461 $4,111 3.52%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 17 $100,705,000 $5,923,824 $0 3.40%
    Outside of Metro Areas 51 $69,245,000 $1,357,745 $6,877 3.55%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $11,620,000 $2,905,000 $0 3.23%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $5,655,000 $1,131,000 $3,784 3.63%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 5 $2,595,000 $519,000 $4,594 3.53%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 5 $2,105,000 $421,000 $3,255 3.63%
    Hingham Institution For Savings's top markets include Boston, Washington, San Francisco, Worcester, and Barnstable Town among others.

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

    Sharon & Crescent United Credit Union
    Similarity Rank: 335
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Middlesex Savings Bank
    Similarity Rank: 672
    Bridgewater Savings Bank
    Similarity Rank: 672
    East Boston Savings Bank
    Similarity Rank: 755
    Piscataqua Savings Bank
    Similarity Rank: 789
    Norwood Co-operative Bank
    Similarity Rank: 820
    QUINCY CREDIT UNION
    Similarity Rank: 900
    HARVARD UNIVERSITY EMPLOYEES
    Similarity Rank: 1001
    Walpole Co-operative Bank
    Similarity Rank: 1052

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 408 $711,130,000 $1,742,966 $4,786 3.52%

    For 2021, Hingham Institution For Savings's most frequently originated type of loan was Conventional, with 408 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 229 $451,085,000 $1,969,803 $4,211 3.42%
    Home Purchase 158 $244,830,000 $1,549,557 $5,729 3.62%
    Home Improvement 19 $13,755,000 $723,947 $3,617 3.79%
    Other 2 $1,460,000 $730,000 $4,670 3.19%

    For 2021, Hingham Institution For Savings's most frequently cited loan purpose was Refi, with 229 originations. The 2nd most popular reason was Home Purchase, with 158 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 204 $352,010,000 $1,725,539 $2,900 3.52%
    30 Year 116 $89,950,000 $775,431 $4,968 3.35%
    20 Year 29 $124,035,000 $4,277,069 $3,457 3.64%
    Other 25 $81,335,000 $3,253,400 $0 4.08%
    10 Year 18 $48,620,000 $2,701,111 $0 3.43%
    30+ year 13 $11,955,000 $919,615 $5,112 3.47%
    1 Year 1 $105,000 $105,000 $0 5.00%
    3 Year 1 $1,365,000 $1,365,000 $0 3.75%
    5 Year 1 $1,755,000 $1,755,000 $0 3.35%

    For 2021, Hingham Institution For Savings's most frequently cited loan duration was 15 Year, with 204 originations. The 2nd most popular length was 30 Year, with 116 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 125 $76,855,000 $614,840
    $1k-2k 17 $27,885,000 $1,640,294

    Hingham Institution For Savings's average total fees were $4,968, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 125 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 370 $635,170,000 $1,716,676
    4-5% 22 $42,200,000 $1,918,182
    2.5-3% 15 $32,605,000 $2,173,667
    5-6% 1 $1,155,000 $1,155,000

    During 2021, Hingham Institution For Savings's average interest rate for loans was 3.35%, while their most frequently originated rate bucket for loans was 3-4%, with 370 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 168 $582,110,000 $3,464,940 $7,770 3.51%
    $600k-1MM 99 $77,475,000 $782,576 $5,214 3.57%
    $400k-600k 68 $33,300,000 $489,706 $3,952 3.58%
    $200k-400k 49 $14,675,000 $299,490 $3,340 3.41%
    $100k-200k 23 $3,515,000 $152,826 $2,875 3.38%
    $100,000 or less 1 $55,000 $55,000 $2,242 3.75%

    2021 saw Hingham Institution For Savings place emphasis on $1MM+ loans with 168 originations, totaling $582,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 56 $67,850,000 $1,211,607 $6,309 3.42%
    $150k-250k 28 $15,440,000 $551,429 $4,082 3.24%
    $100k-150k 26 $11,770,000 $452,692 $4,041 3.29%
    $75k-100k 17 $5,415,000 $318,529 $3,494 3.41%
    $50k-75k 7 $1,695,000 $242,143 $2,936 3.25%
    $50k or less 6 $1,970,000 $328,333 $3,556 3.15%

    Hingham Institution For Savings lent most frequently to those with incomes in the $250k+ range, with 56 originations. The second most popular income band? $150k-250k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 35 $23,655,000 $675,857 $4,728 3.36%
    30-36% 29 $23,605,000 $813,966 $4,944 3.36%
    <20% 29 $19,685,000 $678,793 $4,602 3.34%
    39% 8 $7,730,000 $966,250 $5,374 3.30%
    37% 7 $8,125,000 $1,160,714 $5,714 3.32%
    40% 6 $4,200,000 $700,000 $4,561 3.25%
    36% 5 $3,715,000 $743,000 $5,119 3.43%
    41% 5 $1,985,000 $397,000 $3,668 3.33%
    50-60% 4 $2,270,000 $567,500 $4,518 3.31%
    38% 4 $1,320,000 $330,000 $3,513 3.16%
    >60% 3 $1,825,000 $608,333 $5,132 3.58%
    43% 2 $1,750,000 $875,000 $4,716 3.19%
    42% 2 $2,960,000 $1,480,000 $5,110 3.19%
    44% 1 $625,000 $625,000 $7,504 3.63%
    47% 1 $855,000 $855,000 $5,314 3.13%

    Hingham Institution For Savings lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 108 $370,020,000 $3,426,111 $0 3.51%
    White 180 $156,930,000 $871,833 $4,751 3.48%
    Not provided 70 $129,230,000 $1,846,143 $5,762 3.56%
    Asian 32 $28,350,000 $885,938 $3,384 3.49%
    Other Asian 3 $8,425,000 $2,808,333 $0 3.62%
    Black 5 $7,745,000 $1,549,000 $0 3.74%
    Chinese 5 $4,975,000 $995,000 $0 3.80%
    Asian Indian 2 $4,350,000 $2,175,000 $12,386 4.06%
    Vietnamese 2 $900,000 $450,000 $0 4.00%
    American Indian 1 $205,000 $205,000 $0 3.50%

    Approval Rates

    Total approvals of all applications
    95.82%

    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
    86.03%

    Hingham Institution For Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 408 $711,130,000 $1,742,966

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    408 $711,130,000 $1,742,966

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 52 $38,840,000 $746,923 $3,956 3.43%
    40-60% 81 $139,545,000 $1,722,778 $4,717 3.44%
    60-80% 249 $519,645,000 $2,086,928 $5,547 3.57%
    80-100% 5 $5,315,000 $1,063,000 $5,409 3.20%
    Under 20% 16 $5,520,000 $345,000 $3,618 3.52%

    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 $156,919
    Hingham Institution For Savings 300 Linden Ponds Way Hingham, MA 2043 Full Service B&M $88,818
    Hingham Institution For Savings 35 Main Street Nantucket, MA 2554 Full Service B&M $77,526
    Hingham Institution For Savings 401 Nantasket Avenue Hull, MA 2045 Full Service B&M $87,787
    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 $129,011
    Hingham Institution For Savings 540 Tremont Street Boston, MA 2116 Full Service B&M $119,222
    Hingham Institution For Savings 55 Main St Hingham, MA 2043 Full Service B&M $1,693,542
    Hingham Institution For Savings 71 Main Street Hingham, MA 2043 Limited, Drive-thru $0

    For 2021, Hingham Institution For Savings had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $110,491
    Net interest income $102,466
    Total noninterest income $3,468
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $143
    Trading account gains and fees $0
    Additional Noninterest Income $3,325
    Pre-tax net operating income $80,849
    Securities gains (or losses, -) $11,821
    Income before extraordinary items $67,458
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $67,458
    Minority interest net income $0
    Net income $67,458
    Sale, conversion, retirement of capital stock, net $272
    Net operating income $58,119

    Hingham Institution For Savings's gross interest income from loans was $110,491,000.
    Hingham Institution For Savings's net interest income from loans was $102,466,000.
    Hingham Institution For Savings's fee based income from loans was $143,000.
    Hingham Institution For Savings's net income from loans was $67,458,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,025
    Provision for credit losses $3,028
    Total noninterest expense $22,057
    Salaries and employee benefits $13,988
    Premises and equipment expense $1,498
    Additional noninterest expense $6,571
    Applicable income taxes $25,212
    Net charge-offs $1
    Cash dividends $6,061

    Hingham Institution For Savings's interest expense for loans was $8,025,000.
    Hingham Institution For Savings's payroll and benefits expense were $13,988,000.
    Hingham Institution For Savings's property, plant and equipment expenses $1,498,000.

    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 $2,402,723
    Deposits held in domestic offices $2,402,723
    Deposits by Individuals, partnerships, and corporations $1,902,748
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $219,254
    Deposits by Commercial banks and other depository institutions in U.S. $280,721
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $406,112
    Demand deposits $389,711
    Nontransaction accounts $1,996,611
    Money market deposit accounts (MMDAs) $707,025
    Other savings deposits (excluding MMDAs) $181,871
    Total time deposits $1,107,716
    Total time and savings deposits $2,013,012
    Noninterest-bearing deposits $389,711
    Interest-bearing deposits $2,013,012
    Retail deposits $1,797,334
    IRAs and Keogh plan accounts $32,187
    Brokered deposits $418,542
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,431,284
    Cash & Balances due from depository institutions $270,673
    Interest-bearing balances $265,246
    Total securities $92,461
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,999,215
    Loan and leases loss allowance $20,431
    Trading account assets $0
    Bank premises and fixed assets $16,657
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $52,278

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,431,284
    Total Liabilities $3,076,672
    Total deposits $2,402,723
    Interest-bearing deposits $2,013,012
    Deposits held in domestic offices $2,402,723
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $665,000
    Subordinated debt $0
    All other liabilities $8,949

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,999,215
    Loan and leases loss allowance $20,431
    Total loans and leases (domestic) $3,019,646
    All real estate loans $3,017,044
    Real estate loans in domestic offices $3,017,044
    Construction and development loans $211,053
    Residential 1-4 family construction $76,727
    Other construction, all land development and other land $134,326
    Loans secured by nonfarm nonresidential properties $839,255
    Nonfarm nonresidential secured by owner-occupied properties $143,059
    Commercial real estate & other non-farm, non-residential $696,196
    Multifamily residential real estate $958,637
    1-4 family residential loans $1,008,099
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,114
    To non-U.S. addressees $0
    Loans to individuals $360
    Credit card loans $0
    Related Plans $42
    Consumer Auto Loans $0
    Other loans to individuals $318
    All other loans & leases $128
    Loans to foreign governments and official institutions $0
    Other loans $128
    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 $853
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Hingham Institution for Savings had $2,999,215,000 of loans outstanding in 2021. $3,017,044,000 of loans were in real estate loans. $211,053,000 of loans were in development loans. $958,637,000 of loans were in multifamily mortgage loans. $1,008,099,000 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 188 $71,847 $382,165
    Nonfarm, nonresidential loans - <$100k 4 $272 $68,000
    Nonfarm, nonresidential loans - $100-250k 39 $5,665 $145,256
    Nonfarm, nonresidential loans - $250k-1MM 145 $65,910 $454,552
    Commercial & Industrial, US addressed loans - <$1MM 13 $68 $5,231
    Commercial & Industrial, US addressed loans - <$100k 12 $67 $5,583
    Commercial & Industrial, US addressed loans - $100-250k 1 $1 $1,000