Kennebec Savings Bank Mortgage Rates, Fees & Info

Augusta, ME

LEI: 254900CEBR2F5Y0F1A15

Tax ID: 01-0100490

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

    Kennebec Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi 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) 6.31% 12/23/24
    30 Year Conventional Purchase 6.64% 12/23/24
    30 Year Conventional Refi 6.68% 12/23/24
    30 Year Cash-out Refi 6.56% 12/23/24
    15 Year Conventional Purchase 6.21% 12/23/24
    15 Year Conventional Refi 6.12% 12/23/24
    15 Year Cash-out Refi 6.12% 12/23/24
    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.

    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

    1,508

    Origination Dollar Volume (All Markets)

    $253,760,000

    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 Kennebec Savings Bank 30 Year Conventional Loans gold
    Show all (4) 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
    Augusta-Waterville, ME (FHA|USDA|VA) 1,081 $170,885,000 $158,080 $668 3.75%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 131 $38,825,000 $296,374 $981 3.61%
    Outside of Metro Areas 247 $36,415,000 $147,429 $776 3.83%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 31 $4,705,000 $151,774 $1,061 3.68%
    BANGOR, ME (FHA|USDA|VA) 18 $2,930,000 $162,778 $920 3.97%
    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.

    Piscataqua Savings Bank
    Similarity Rank: 136
    CUMBERLAND COUNTY
    Similarity Rank: 176
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 222
    CASCO
    Similarity Rank: 324
    Maine Savings Federal Credit Union
    Similarity Rank: 476
    FIVE COUNTY
    Similarity Rank: 484
    MEMBERS MORTGAGE COMPANY, INC.
    Similarity Rank: 570
    Kennebec Savings Bank
    Similarity Rank: 605
    First National Bank
    Similarity Rank: 606
    Bath Savings Institution
    Similarity Rank: 615

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,508 $253,760,000 $168,276 $725 3.75%

    For 2020, Kennebec Savings Bank's most frequently originated type of loan was Conventional, with 1,508 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 608 $110,430,000 $181,628 $1,092 3.96%
    Cash Out Refi 565 $94,425,000 $167,124 $525 3.61%
    Refi 239 $40,245,000 $168,389 $455 3.48%
    Other 57 $5,465,000 $95,877 $371 3.93%
    Home Improvement 39 $3,195,000 $81,923 $522 4.01%

    For 2020, Kennebec Savings Bank's most frequently cited loan purpose was Home Purchase, with 608 originations. The 2nd most popular reason was Cash Out Refi, with 565 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,198 $205,430,000 $171,477 $726 3.67%
    30 Year 124 $24,770,000 $199,758 $594 3.84%
    20 Year 98 $13,350,000 $136,224 $588 4.46%
    15 Year 43 $4,255,000 $98,953 $314 3.94%
    10 Year 21 $1,615,000 $76,905 $303 3.51%
    30+ year 16 $3,700,000 $231,250 $3,549 4.25%
    5 Year 7 $235,000 $33,571 $151 4.18%
    1 Year 1 $405,000 $405,000 $0 4.00%

    For 2020, Kennebec Savings Bank's most frequently cited loan duration was Other, with 1,198 originations. The 2nd most popular length was 30 Year, with 124 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,316 $214,790,000 $163,214
    $1k-2k 60 $10,740,000 $179,000
    $2k-3k 24 $6,500,000 $270,833
    $3k-4k 9 $3,865,000 $429,444
    $5k+ 2 $1,120,000 $560,000
    $4k-5k 1 $475,000 $475,000

    Kennebec Savings Bank's average total fees were $594, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,316 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 892 $166,230,000 $186,357
    4-5% 334 $48,790,000 $146,078
    2.5-3% 277 $38,325,000 $138,357
    5-6% 5 $415,000 $83,000

    During 2020, Kennebec Savings Bank's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 3-4%, with 892 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 703 $101,245,000 $144,018 $653 3.70%
    $100,000 or less 392 $25,280,000 $64,490 $449 3.83%
    $200k-400k 357 $93,865,000 $262,927 $1,043 3.75%
    $400k-600k 36 $16,900,000 $469,444 $1,243 3.96%
    $600k-1MM 15 $10,615,000 $707,667 $2,265 3.83%
    $1MM+ 5 $5,855,000 $1,171,000 $2,091 3.74%

    2020 saw Kennebec Savings Bank place emphasis on $100k-200k loans with 703 originations, totaling $101,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 358 $64,260,000 $179,497 $705 3.65%
    $50k-75k 307 $38,635,000 $125,847 $709 3.78%
    $150k-250k 230 $48,020,000 $208,783 $701 3.64%
    $75k-100k 230 $34,410,000 $149,609 $816 3.76%
    $50k or less 215 $21,515,000 $100,070 $644 3.82%
    $250k+ 81 $29,455,000 $363,642 $937 3.73%

    Kennebec Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 358 originations. The second most popular income band? $50k-75k, with 307 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 452 $74,500,000 $164,823 $659 3.68%
    30-36% 294 $49,610,000 $168,741 $743 3.76%
    <20% 216 $33,360,000 $154,444 $634 3.57%
    37% 64 $11,210,000 $175,156 $886 3.84%
    36% 57 $9,745,000 $170,965 $918 3.85%
    40% 52 $9,200,000 $176,923 $812 3.78%
    41% 48 $8,910,000 $185,625 $947 3.91%
    38% 41 $6,475,000 $157,927 $731 3.91%
    42% 37 $6,065,000 $163,919 $681 3.81%
    39% 37 $6,555,000 $177,162 $988 3.73%
    43% 31 $5,205,000 $167,903 $684 3.84%
    44% 20 $3,720,000 $186,000 $501 3.78%
    46% 16 $2,530,000 $158,125 $1,048 3.63%
    45% 15 $2,535,000 $169,000 $558 3.66%
    48% 13 $1,585,000 $121,923 $843 3.64%
    >60% 12 $1,910,000 $159,167 $347 3.44%
    47% 12 $2,510,000 $209,167 $842 3.94%
    50-60% 10 $2,740,000 $274,000 $816 3.85%
    49% 6 $900,000 $150,000 $875 3.65%

    Kennebec Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 452 originations. The next most common DTI ratio? 30-36%, with 294 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,225 $205,095,000 $167,424 $729 3.74%
    Not provided 193 $31,045,000 $160,855 $678 3.66%
    Not applicable 64 $13,080,000 $204,375 $316 4.35%
    American Indian 12 $2,010,000 $167,500 $571 3.60%
    Asian 9 $1,455,000 $161,667 $792 3.94%
    Asian Indian 2 $650,000 $325,000 $3,621 3.38%
    Black 3 $425,000 $141,667 $1,632 4.23%

    Approval Rates

    Total approvals of all applications
    94.53%

    Kennebec Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.69%

    Kennebec Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,508 $253,760,000 $168,276

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 23 $7,055,000 $306,739
    Single Family (1-4 Units):Manufactured 64 $5,370,000 $83,906
    Single Family (1-4 Units):Site-Built 1,421 $241,335,000 $169,835

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 115 $10,955,000 $95,261 $409 3.53%
    40-60% 216 $31,090,000 $143,935 $431 3.50%
    60-80% 587 $104,995,000 $178,867 $678 3.75%
    80-100% 529 $103,985,000 $196,569 $1,001 3.87%
    Over 100% 6 $960,000 $160,000 $1,797 3.98%
    Under 20% 54 $1,720,000 $31,852 $197 4.13%