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, Worcester, and Laconia among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Rockland 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. 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% 11/21/24
    30 Year Conventional Purchase 5.65% 11/21/24
    30 Year Conventional Refi 5.43% 11/21/24
    30 Year Cash-out Refi 5.55% 11/21/24
    15 Year Conventional Purchase 5.41% 11/21/24
    15 Year Conventional Refi 5.29% 11/21/24
    15 Year Cash-out Refi 5.29% 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.

    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

    1,247

    Origination Dollar Volume (All Markets)

    $197,665,000

    Awards

    ROCKLAND 30 Year Conventional Loans gold ROCKLAND 30 Year Conventional Loans gold ROCKLAND 30 Year Conventional Loans bronze
    Show all (3) 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) 1,000 $159,700,000 $159,700 $2,858 4.36%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 194 $28,440,000 $146,598 $2,809 4.32%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 34 $5,620,000 $165,294 $2,677 4.21%
    WORCESTER, MA-CT (FHA|USDA|VA) 15 $2,555,000 $170,333 $2,533 3.98%
    Laconia, NH (FHA|USDA|VA) 2 $1,020,000 $510,000 $3,732 3.56%
    Outside of Metro Areas 2 $330,000 $165,000 $2,534 3.88%
    Rockland's top markets include Boston, Providence, Barnstable Town, Worcester, and Laconia among others.

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

    SOMERSET
    Similarity Rank: 26
    Rhode Island Credit Union
    Similarity Rank: 116
    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    OCEAN STATE CREDIT UNION
    Similarity Rank: 315
    BankNewport
    Similarity Rank: 315
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 348
    Bank Rhode Island
    Similarity Rank: 432
    QUINCY CREDIT UNION
    Similarity Rank: 435
    Middlesex Savings Bank
    Similarity Rank: 480

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 843 $157,825,000 $187,218 $2,840 4.12%
    HELOC 404 $39,840,000 $98,614 n/a 4.82%

    For 2019, Rockland's most frequently originated type of loan was Conventional, with 843 originations. Their 2nd most popular type was HELOC, with 404 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 620 $77,410,000 $124,855 $2,603 4.41%
    Other 269 $19,605,000 $72,881 $0 4.54%
    Refi 151 $29,875,000 $197,848 $2,378 4.13%
    Home Purchase 147 $50,505,000 $343,571 $3,216 4.01%
    Cash Out Refi 48 $13,250,000 $276,042 $3,077 3.94%
    NA 12 $7,020,000 $585,000 $3,799 5.10%

    For 2019, Rockland's most frequently cited loan purpose was Home Improvement, with 620 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 544 $56,760,000 $104,338 $2,680 4.72%
    30 Year 271 $88,955,000 $328,247 $2,887 3.96%
    15 Year 186 $28,180,000 $151,505 $2,643 3.94%
    10 Year 131 $8,825,000 $67,366 $2,370 4.24%
    Other 64 $11,450,000 $178,906 $4,474 4.46%
    5 Year 48 $2,120,000 $44,167 $0 4.00%
    30+ year 3 $1,375,000 $458,333 $3,881 4.00%

    For 2019, Rockland's most frequently cited loan duration was 20 Year, with 544 originations. The 2nd most popular length was 30 Year, with 271 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 344 $108,480,000 $315,349
    $1k-2k 12 $3,010,000 $250,833
    $2k-3k 10 $2,730,000 $273,000
    $3k-4k 9 $2,135,000 $237,222
    $4k-5k 5 $1,815,000 $363,000
    $5k+ 4 $1,620,000 $405,000

    Rockland's average total fees were $2,887, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 344 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 857 $91,105,000 $106,307
    3-4% 346 $95,460,000 $275,896
    5-6% 32 $8,090,000 $252,813
    2.5-3% 10 $2,840,000 $284,000
    <2.5% 1 $15,000 $15,000
    6-7% 1 $155,000 $155,000

    During 2019, Rockland's average interest rate for loans was 3.96%, while their most frequently originated rate bucket for loans was 4-5%, with 857 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 613 $31,275,000 $51,020 $2,031 4.50%
    $200k-400k 284 $77,540,000 $273,028 $2,844 4.04%
    $100k-200k 256 $34,930,000 $136,445 $2,325 4.46%
    $400k-600k 70 $32,070,000 $458,143 $3,224 3.89%
    $600k-1MM 20 $14,780,000 $739,000 $3,521 3.91%
    $1MM+ 4 $7,070,000 $1,767,500 $5,229 4.25%

    2019 saw Rockland place emphasis on $100,000 or less loans with 613 originations, totaling $31,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 358 $60,440,000 $168,827 $2,859 4.31%
    $100k-150k 352 $48,870,000 $138,835 $2,947 4.34%
    $75k-100k 207 $27,275,000 $131,763 $2,552 4.31%
    $50k-75k 162 $19,880,000 $122,716 $2,733 4.36%
    $250k+ 89 $27,995,000 $314,551 $3,309 4.31%
    $50k or less 62 $5,530,000 $89,194 $2,823 4.52%

    Rockland lent most frequently to those with incomes in the $150k-250k range, with 358 originations. The second most popular income band? $100k-150k, with 352 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 318 $47,850,000 $150,472 $2,858 4.30%
    30-36% 225 $37,555,000 $166,911 $2,719 4.29%
    <20% 108 $15,220,000 $140,926 $2,435 4.31%
    50-60% 68 $8,350,000 $122,794 $3,002 4.67%
    43% 61 $6,385,000 $104,672 $2,608 4.28%
    42% 47 $6,755,000 $143,723 $2,894 4.22%
    40% 47 $7,045,000 $149,894 $3,344 4.32%
    36% 46 $7,810,000 $169,783 $2,686 4.17%
    41% 43 $7,905,000 $183,837 $3,201 4.34%
    38% 42 $5,660,000 $134,762 $2,640 4.36%
    39% 40 $5,460,000 $136,500 $2,471 4.30%
    37% 38 $8,700,000 $228,947 $3,001 4.32%
    44% 29 $4,035,000 $139,138 $2,447 4.38%
    48% 26 $4,020,000 $154,615 $3,393 4.53%
    >60% 20 $4,600,000 $230,000 $3,032 4.55%
    47% 20 $3,370,000 $168,500 $2,711 4.56%
    49% 20 $2,860,000 $143,000 $2,487 4.25%
    46% 19 $2,575,000 $135,526 $4,822 4.62%
    45% 17 $4,535,000 $266,765 $3,677 4.29%

    Rockland lent most frequently to those with DTI ratios of 20-30%, with 318 originations. The next most common DTI ratio? 30-36%, with 225 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,039 $157,795,000 $151,872 $2,809 4.33%
    Not provided 143 $25,445,000 $177,937 $2,941 4.41%
    Asian 24 $6,900,000 $287,500 $3,069 3.96%
    Black 23 $3,475,000 $151,087 $3,357 4.33%
    Not applicable 11 $3,395,000 $308,636 $0 5.21%
    American Indian 4 $400,000 $100,000 $2,446 4.16%
    2 $160,000 $80,000 $0 4.88%
    Other Asian 1 $95,000 $95,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    90.65%

    Rockland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.21%

    Rockland has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,247 $197,665,000 $158,512

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $4,210,000 $1,052,500
    Single Family (1-4 Units):Site-Built 1,243 $193,455,000 $155,636

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 231 $31,185,000 $135,000 $2,296 4.48%
    40-60% 125 $31,765,000 $254,120 $2,790 4.09%
    60-80% 177 $59,025,000 $333,475 $2,902 3.86%
    80-100% 99 $36,175,000 $365,404 $3,025 4.00%
    Under 20% 615 $39,515,000 $64,252 $2,299 4.54%