Kennebec Savings Bank Mortgage Rates, Fees & Info

Augusta, ME

LEI: 254900CEBR2F5Y0F1A15

Tax ID: 01-0100490

5 stars - Updated: 5/13/25 - out of 5 stars, based on 32 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Kennebec Savings Bank is a smaller bank specializing in Home Purchase loans. Kennebec Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Augusta, Portland, Lewiston, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Kennebec Savings Bank 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. Kennebec Savings Bank 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
    Home Equity Line of Credit (HELOC) 6.96% 5/13/25
    30 Year Conventional Purchase 6.89% 5/13/25
    30 Year Conventional Refi 6.63% 5/13/25
    15 Year Conventional Purchase 7.48% 5/13/25
    15 Year Conventional Refi 7.66% 5/13/25
    15 Year Cash-out Refi 7.66% 5/13/25
    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.

    Kennebec Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Kennebec Savings Bank. 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

    1,044

    Origination Dollar Volume (All Markets)

    $179,820,000

    Awards

    Kennebec Savings Bank 30 Year Conventional Loans gold Kennebec Savings Bank 30 Year Conventional Loans gold Kennebec Savings Bank 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    Kennebec Savings Bank's average 30 year fixed mortgage rate was 6.86%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.31%.

    Relative Fees (Closing Costs)

    Kennebec Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $909.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    Augusta-Waterville, ME (FHA|USDA|VA) 722 $115,730,000 $160,291 $999 7.62%
    Outside of Metro Areas 162 $27,100,000 $167,284 $1,170 7.58%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 97 $25,505,000 $262,938 $917 7.67%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 43 $8,255,000 $191,977 $925 7.44%
    BANGOR, ME (FHA|USDA|VA) 20 $3,230,000 $161,500 $633 7.71%
    Kennebec Savings Bank's top markets include Augusta, Portland, Lewiston, and Bangor among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Similar Lenders

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

    Kennebec Savings Bank
    Similarity Rank: 40
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 70
    Saco Valley Credit Union
    Similarity Rank: 136
    EVERGREEN
    Similarity Rank: 145
    Bath Savings Institution
    Similarity Rank: 210
    Saco & Biddeford Savings Institution
    Similarity Rank: 232
    CUMBERLAND COUNTY
    Similarity Rank: 280
    Androscoggin Savings Bank
    Similarity Rank: 378
    University Credit Union
    Similarity Rank: 525
    Machias Savings Bank
    Similarity Rank: 594

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 721 $146,635,000 $203,377 $1,009 7.27%
    HELOC 323 $33,185,000 $102,740 n/a 8.37%

    For 2024, Kennebec Savings Bank's most frequently originated type of loan was Conventional, with 721 originations. Their 2nd most popular type was HELOC, with 323 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 427 $119,545,000 $279,965 $1,489 7.34%
    Home Improvement 255 $16,175,000 $63,431 $402 7.95%
    Refi 231 $33,255,000 $143,961 $510 7.67%
    Other 131 $10,845,000 $82,786 $382 7.76%

    For 2024, Kennebec Savings Bank's most frequently cited loan purpose was Home Purchase, with 427 originations. The 2nd most popular reason was Home Improvement, with 255 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 443 $94,085,000 $212,381 $836 7.24%
    15 Year 376 $37,180,000 $98,883 $448 8.28%
    30 Year 97 $28,835,000 $297,268 $909 6.86%
    20 Year 48 $7,960,000 $165,833 $735 7.82%
    10 Year 31 $1,415,000 $45,645 $244 7.45%
    30+ year 27 $9,625,000 $356,481 $6,671 7.47%
    5 Year 21 $685,000 $32,619 $210 7.01%
    3 Year 1 $35,000 $35,000 $648 7.00%

    For 2024, Kennebec Savings Bank's most frequently cited loan duration was Other, with 443 originations. The 2nd most popular length was 15 Year, with 376 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 618 $117,410,000 $189,984
    $2k-3k 29 $10,875,000 $375,000
    $1k-2k 13 $2,615,000 $201,154
    $3k-4k 1 $325,000 $325,000
    $4k-5k 1 $485,000 $485,000
    $5k+ 1 $545,000 $545,000

    Kennebec Savings Bank's average total fees were $909, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 618 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 508 $94,130,000 $185,295
    6-7% 265 $54,955,000 $207,377
    Over 8% 265 $29,485,000 $111,264
    5-6% 4 $1,000,000 $250,000
    3-4% 2 $250,000 $125,000

    During 2024, Kennebec Savings Bank's average interest rate for loans was 6.86%, while their most frequently originated rate bucket for loans was 7-8%, with 508 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 440 $21,320,000 $48,455 $360 7.82%
    $100k-200k 266 $37,970,000 $142,744 $872 7.64%
    $200k-400k 250 $70,610,000 $282,440 $1,378 7.33%
    $400k-600k 66 $31,140,000 $471,818 $2,176 7.28%
    $600k-1MM 19 $14,115,000 $742,895 $2,681 7.33%
    $1MM+ 3 $4,665,000 $1,555,000 $1,223 7.67%

    2024 saw Kennebec Savings Bank place emphasis on $100,000 or less loans with 440 originations, totaling $21,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 279 $42,665,000 $152,921 $1,029 7.59%
    $150k-250k 246 $51,370,000 $208,821 $1,166 7.60%
    $75k-100k 146 $17,260,000 $118,219 $715 7.62%
    $50k-75k 132 $12,810,000 $97,045 $894 7.63%
    $250k+ 114 $38,070,000 $333,947 $1,433 7.58%
    $50k or less 60 $3,840,000 $64,000 $561 7.59%

    Kennebec Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 279 originations. The second most popular income band? $150k-250k, with 246 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 243 $34,945,000 $143,807 $798 7.65%
    30-36% 230 $42,910,000 $186,565 $1,040 7.50%
    <20% 108 $16,640,000 $154,074 $827 7.60%
    39% 50 $7,390,000 $147,800 $698 7.55%
    40% 48 $6,100,000 $127,083 $801 7.71%
    41% 43 $8,885,000 $206,628 $1,690 7.63%
    37% 42 $7,940,000 $189,048 $1,460 7.58%
    42% 41 $7,235,000 $176,463 $897 7.71%
    38% 39 $7,105,000 $182,179 $1,409 7.57%
    36% 34 $5,370,000 $157,941 $1,246 7.73%
    43% 34 $8,090,000 $237,941 $1,351 7.62%
    44% 16 $3,000,000 $187,500 $1,293 7.67%
    45% 13 $2,285,000 $175,769 $560 7.59%
    48% 9 $1,455,000 $161,667 $726 7.25%
    46% 8 $1,530,000 $191,250 $1,588 7.34%
    47% 8 $1,840,000 $230,000 $1,033 7.43%
    49% 5 $605,000 $121,000 $403 8.09%
    50-60% 1 $155,000 $155,000 $0 8.00%

    Kennebec Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 243 originations. The next most common DTI ratio? 30-36%, with 230 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 899 $147,545,000 $164,121 $991 7.60%
    Not provided 84 $17,370,000 $206,786 $955 7.55%
    Not applicable 40 $10,080,000 $252,000 $0 8.02%
    Black 5 $1,475,000 $295,000 $3,883 7.59%
    Asian 5 $1,195,000 $239,000 $827 7.43%
    Other Asian 2 $1,170,000 $585,000 $3,565 6.88%
    American Indian 6 $750,000 $125,000 $319 7.92%
    Asian Indian 2 $200,000 $100,000 $386 7.88%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 6.95%

    Approval Rates

    Total approvals of all applications
    91.32%

    Kennebec Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.51%

    Kennebec Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,044 $179,820,000 $172,241

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,044 $179,820,000 $172,241

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 217 $24,335,000 $112,143 $641 7.86%
    40-60% 129 $25,145,000 $194,922 $1,016 7.64%
    60-80% 207 $56,695,000 $273,889 $1,597 7.31%
    80-100% 179 $59,255,000 $331,034 $1,275 7.27%
    Under 20% 308 $14,050,000 $45,617 $299 7.85%