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

Jump to:

  • 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)

    • 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, Barnstable Town, and Sacramento 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 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% 4/28/24
    30 Year Conventional Refi 6.23% 4/28/24
    15 Year Conventional Purchase 5.67% 4/28/24
    15 Year Conventional Refi 6.07% 4/28/24
    15 Year Cash-out Refi 6.07% 4/28/24
    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

    314

    Origination Dollar Volume (All Markets)

    $842,900,000

    Awards

    Hingham Institution for Savings 30 Year Conventional Loans gold Hingham Institution for Savings 30 Year Conventional Loans gold
    Show all (2) 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) 212 $436,260,000 $2,057,830 $4,717 4.03%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 46 $313,740,000 $6,820,435 $0 4.17%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 15 $43,415,000 $2,894,333 $0 3.41%
    Outside of Metro Areas 25 $35,025,000 $1,401,000 $7,218 4.04%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $4,760,000 $595,000 $3,562 3.59%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $4,655,000 $4,655,000 $0 3.25%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $4,165,000 $833,000 $0 4.20%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $880,000 $440,000 $0 5.05%
    Hingham Institution For Savings's top markets include Boston, Washington, San Francisco, Barnstable Town, and Sacramento among others.

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

    QUINCY CREDIT UNION
    Similarity Rank: 50
    Direct Federal Credit Union
    Similarity Rank: 115
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    Middlesex Savings Bank
    Similarity Rank: 195
    Piscataqua Savings Bank
    Similarity Rank: 200
    ALIGN CREDIT UNION
    Similarity Rank: 200
    North Easton Savings Bank
    Similarity Rank: 348
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 357
    ROCKLAND
    Similarity Rank: 360
    Milford Federal Bank
    Similarity Rank: 364

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 314 $842,900,000 $2,684,395 $5,261 4.02%

    For 2022, Hingham Institution For Savings's most frequently originated type of loan was Conventional, with 314 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 173 $430,785,000 $2,490,087 $5,144 3.82%
    Home Purchase 134 $378,940,000 $2,827,910 $5,552 4.26%
    Home Improvement 6 $32,870,000 $5,478,333 $0 4.54%
    Other 1 $305,000 $305,000 $2,944 3.88%

    For 2022, Hingham Institution For Savings's most frequently cited loan purpose was Refi, with 173 originations. The 2nd most popular reason was Home Purchase, with 134 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 163 $402,765,000 $2,470,951 $4,035 4.11%
    30 Year 45 $43,975,000 $977,222 $5,585 3.89%
    20 Year 44 $144,200,000 $3,277,273 $0 3.72%
    10 Year 34 $79,020,000 $2,324,118 $0 4.18%
    Other 26 $171,170,000 $6,583,462 $0 4.03%
    30+ year 2 $1,770,000 $885,000 $4,712 3.31%

    For 2022, Hingham Institution For Savings's most frequently cited loan duration was 15 Year, with 163 originations. The 2nd most popular length was 30 Year, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 48 $37,920,000 $790,000
    $1k-2k 2 $5,450,000 $2,725,000

    Hingham Institution For Savings's average total fees were $5,585, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 48 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 197 $601,335,000 $3,052,462
    4-5% 63 $154,745,000 $2,456,270
    5-6% 43 $71,245,000 $1,656,860
    2.5-3% 10 $12,770,000 $1,277,000
    6-7% 1 $2,805,000 $2,805,000

    During 2022, Hingham Institution For Savings's average interest rate for loans was 3.89%, while their most frequently originated rate bucket for loans was 3-4%, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 168 $766,250,000 $4,561,012 $8,948 3.99%
    $600k-1MM 54 $41,000,000 $759,259 $5,141 4.14%
    $400k-600k 47 $23,225,000 $494,149 $4,267 3.97%
    $200k-400k 38 $11,570,000 $304,474 $3,422 4.11%
    $100k-200k 5 $755,000 $151,000 $3,250 3.23%
    $100,000 or less 2 $100,000 $50,000 $2,270 4.75%

    2022 saw Hingham Institution For Savings place emphasis on $1MM+ loans with 168 originations, totaling $766,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 24 $38,500,000 $1,604,167 $7,336 3.95%
    $150k-250k 13 $5,605,000 $431,154 $3,967 4.04%
    $100k-150k 8 $3,370,000 $421,250 $3,975 3.33%
    $50k-75k 6 $1,400,000 $233,333 $3,322 3.52%
    $75k-100k 4 $1,380,000 $345,000 $3,797 3.16%
    $50k or less 1 $35,000 $35,000 $2,270 4.75%

    Hingham Institution For Savings lent most frequently to those with incomes in the $250k+ range, with 24 originations. The second most popular income band? $150k-250k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 18 $22,770,000 $1,265,000 $6,231 3.61%
    20-30% 14 $8,940,000 $638,571 $4,464 3.90%
    30-36% 8 $3,440,000 $430,000 $4,349 3.77%
    40% 4 $1,930,000 $482,500 $4,178 3.19%
    46% 2 $1,440,000 $720,000 $4,782 3.13%
    38% 2 $3,170,000 $1,585,000 $6,990 4.56%
    42% 2 $5,090,000 $2,545,000 $10,657 4.50%
    37% 1 $255,000 $255,000 $3,444 3.13%
    41% 1 $375,000 $375,000 $3,762 3.38%
    36% 1 $415,000 $415,000 $3,894 5.50%
    43% 1 $365,000 $365,000 $3,757 5.25%
    39% 1 $485,000 $485,000 $3,832 3.13%

    Hingham Institution For Savings lent most frequently to those with DTI ratios of <20%, with 18 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 123 $491,295,000 $3,994,268 $0 4.03%
    Not provided 65 $196,115,000 $3,017,154 $6,514 3.97%
    White 104 $115,770,000 $1,113,173 $4,825 3.99%
    Asian 13 $21,045,000 $1,618,846 $9,839 4.31%
    Asian Indian 3 $8,705,000 $2,901,667 $0 4.20%
    Black 3 $6,055,000 $2,018,333 $0 3.98%
    Other Asian 2 $3,430,000 $1,715,000 $0 3.63%
    Vietnamese 1 $485,000 $485,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    93.02%

    Hingham Institution For Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.22%

    Hingham Institution For Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 314 $842,900,000 $2,684,395

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    314 $842,900,000 $2,684,395

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $96,805,000 $3,122,742 $3,605 3.77%
    40-60% 76 $147,060,000 $1,935,000 $5,406 3.94%
    60-80% 198 $589,770,000 $2,978,636 $6,331 4.10%
    80-100% 4 $3,090,000 $772,500 $5,006 4.13%
    Under 20% 5 $6,175,000 $1,235,000 $2,682 3.70%