Rockland Mortgage Rates, Fees & Info

Rockland, MA

LEI: 5493000FSTFO9AWR2J40

Tax ID: 04-1782360

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

    Rockland is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Rockland has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Rockland has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Rockland 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.42% 11/17/24
    30 Year Conventional Purchase 5.65% 11/17/24
    30 Year Conventional Refi 5.43% 11/17/24
    30 Year Cash-out Refi 5.55% 11/17/24
    15 Year Conventional Purchase 5.41% 11/17/24
    15 Year Conventional Refi 5.29% 11/17/24
    15 Year Cash-out Refi 5.29% 11/17/24
    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.

    Rockland Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Rockland. 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

    1,301

    Origination Dollar Volume (All Markets)

    $177,455,000

    Awards

    ROCKLAND 30 Year Conventional Loans silver
    Show all (1) 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) 1,056 $143,180,000 $135,587 $3,223 4.24%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 186 $21,490,000 $115,538 $3,333 4.19%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 51 $10,665,000 $209,118 $3,382 4.18%
    WORCESTER, MA-CT (FHA|USDA|VA) 8 $2,120,000 $265,000 $2,707 4.20%
    Rockland's top markets include Boston, Providence, Barnstable Town, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)

    • Similar Lenders

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

    Westport Federal Credit Union
    Similarity Rank: 23
    Notre Dame Community Federal Credit Union
    Similarity Rank: 38
    PAWTUCKET
    Similarity Rank: 60
    Charter Oak Federal Credit Union
    Similarity Rank: 66
    Bank of Easton
    Similarity Rank: 66
    SOMERSET
    Similarity Rank: 99
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Martha's Vineyard Savings Bank
    Similarity Rank: 128
    Triangle Credit Union
    Similarity Rank: 147

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 840 $134,490,000 $160,107 $3,237 4.11%
    HELOC 461 $42,965,000 $93,200 n/a 4.45%

    For 2018, Rockland's most frequently originated type of loan was Conventional, with 840 originations. Their 2nd most popular type was HELOC, with 461 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 614 $50,800,000 $82,736 $3,437 4.28%
    Other 269 $17,835,000 $66,301 $0 4.24%
    Home Purchase 166 $47,730,000 $287,530 $3,427 4.40%
    Refi 138 $22,900,000 $165,942 $2,818 4.04%
    Cash Out Refi 96 $27,650,000 $288,021 $3,121 3.75%
    NA 18 $10,540,000 $585,556 $0 5.10%

    For 2018, Rockland's most frequently cited loan purpose was Home Improvement, with 614 originations. The 2nd most popular reason was Other, with 269 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 577 $51,525,000 $89,298 $3,472 4.45%
    15 Year 225 $34,175,000 $151,889 $2,683 4.07%
    30 Year 186 $53,990,000 $290,269 $3,504 4.41%
    10 Year 160 $13,940,000 $87,125 $2,357 3.81%
    Other 93 $19,915,000 $214,140 $4,791 4.09%
    5 Year 59 $2,035,000 $34,492 $0 3.52%
    1 Year 1 $1,875,000 $1,875,000 $0 5.75%

    For 2018, Rockland's most frequently cited loan duration was 20 Year, with 577 originations. The 2nd most popular length was 15 Year, with 225 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 204 $58,220,000 $285,392
    $1k-2k 49 $12,945,000 $264,184
    $2k-3k 24 $6,660,000 $277,500
    $3k-4k 15 $3,945,000 $263,000
    $4k-5k 5 $1,225,000 $245,000
    $5k+ 2 $840,000 $420,000

    Rockland's average total fees were $3,504, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 204 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 776 $100,350,000 $129,317
    3-4% 453 $55,565,000 $122,660
    2.5-3% 44 $10,800,000 $245,455
    5-6% 26 $8,150,000 $313,462
    <2.5% 1 $5,000 $5,000
    6-7% 1 $2,585,000 $2,585,000

    During 2018, Rockland's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 776 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 735 $35,525,000 $48,333 $2,069 4.23%
    $100k-200k 256 $35,090,000 $137,070 $2,571 4.25%
    $200k-400k 255 $67,245,000 $263,706 $3,440 4.22%
    $400k-600k 36 $17,440,000 $484,444 $3,628 3.99%
    $600k-1MM 11 $7,595,000 $690,455 $3,441 4.39%
    $1MM+ 8 $14,560,000 $1,820,000 $5,753 5.03%

    2018 saw Rockland place emphasis on $100,000 or less loans with 735 originations, totaling $35,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 378 $42,630,000 $112,778 $3,187 4.22%
    $150k-250k 329 $45,625,000 $138,678 $2,995 4.15%
    $75k-100k 212 $22,230,000 $104,858 $3,411 4.25%
    $50k-75k 178 $19,070,000 $107,135 $3,309 4.28%
    $250k+ 109 $27,325,000 $250,688 $3,742 4.15%
    $50k or less 58 $4,770,000 $82,241 $3,017 4.38%

    Rockland lent most frequently to those with incomes in the $100k-150k range, with 378 originations. The second most popular income band? $150k-250k, with 329 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 362 $44,580,000 $123,149 $3,033 4.21%
    <20% 250 $23,010,000 $92,040 $2,454 4.21%
    30-36% 236 $28,220,000 $119,576 $3,368 4.20%
    37% 40 $4,040,000 $101,000 $3,016 4.18%
    39% 38 $4,350,000 $114,474 $3,315 4.18%
    38% 38 $5,420,000 $142,632 $2,778 4.18%
    40% 35 $4,335,000 $123,857 $3,515 4.24%
    36% 34 $4,850,000 $142,647 $3,253 4.20%
    50-60% 34 $4,460,000 $131,176 $3,447 4.37%
    41% 32 $3,660,000 $114,375 $2,538 4.05%
    42% 29 $4,105,000 $141,552 $3,899 4.08%
    43% 29 $2,645,000 $91,207 $2,855 4.20%
    47% 22 $3,650,000 $165,909 $5,069 4.41%
    >60% 21 $6,085,000 $289,762 $3,988 4.52%
    46% 19 $5,585,000 $293,947 $3,267 4.17%
    44% 17 $3,915,000 $230,294 $3,066 4.29%
    45% 16 $3,640,000 $227,500 $3,406 4.47%
    48% 12 $2,750,000 $229,167 $3,920 4.30%
    49% 11 $4,605,000 $418,636 $4,608 4.20%

    Rockland lent most frequently to those with DTI ratios of 20-30%, with 362 originations. The next most common DTI ratio? <20%, with 250 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,066 $135,640,000 $127,242 $3,187 4.24%
    Not provided 159 $20,495,000 $128,899 $3,305 4.16%
    Not applicable 20 $11,550,000 $577,500 $0 5.09%
    Asian 27 $6,345,000 $235,000 $3,523 3.78%
    Black 18 $1,730,000 $96,111 $4,283 4.63%
    Chinese 2 $710,000 $355,000 $4,016 4.19%
    American Indian 5 $395,000 $79,000 $0 4.00%
    Other Pacific Islander 3 $345,000 $115,000 $0 3.75%
    Native Hawaiian or Islander 1 $245,000 $245,000 $6,101 4.50%

    Approval Rates

    Total approvals of all applications
    82.01%

    Rockland has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    93.08%

    Rockland has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,301 $177,455,000 $136,399

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $8,220,000 $1,370,000
    Single Family (1-4 Units):Site-Built 1,295 $169,235,000 $130,683

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 259 $34,365,000 $132,683 $2,506 4.22%
    40-60% 119 $29,365,000 $246,765 $2,760 4.04%
    60-80% 140 $48,380,000 $345,571 $3,548 4.30%
    80-100% 74 $25,040,000 $338,378 $3,826 4.43%
    Under 20% 708 $37,900,000 $53,531 $2,140 4.24%