Rockland Mortgage Rates, Fees & Info

Rockland, MA

LEI: 5493000FSTFO9AWR2J40

Tax ID: 04-1782360

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Mortgage Data

Review & Overview

Rockland is a smaller mortgage company specializing in Home Improvement and Refi loans. Rockland has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, Worcester, and Manchester 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 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.42% 12/8/24
30 Year Conventional Purchase 5.65% 12/8/24
30 Year Conventional Refi 5.43% 12/8/24
30 Year Cash-out Refi 5.55% 12/8/24
15 Year Conventional Purchase 5.41% 12/8/24
15 Year Conventional Refi 5.29% 12/8/24
15 Year Cash-out Refi 5.29% 12/8/24
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

1,602

Origination Dollar Volume (All Markets)

$335,040,000

Awards

ROCKLAND 30 Year Conventional Loans gold ROCKLAND 30 Year Conventional Loans gold ROCKLAND 30 Year Conventional Loans gold ROCKLAND 30 Year Conventional Loans bronze
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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1,299 $277,415,000 $213,560 $1,913 3.27%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 233 $40,645,000 $174,442 $1,746 3.30%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 55 $12,015,000 $218,455 $1,802 3.29%
WORCESTER, MA-CT (FHA|USDA|VA) 11 $2,555,000 $232,273 $2,336 3.13%
Outside of Metro Areas 2 $1,660,000 $830,000 $0 3.75%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $750,000 $375,000 $2,704 3.00%
Rockland's top markets include Boston, Providence, Barnstable Town, Worcester, and Manchester 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.

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Triangle Credit Union
    Similarity Rank: 696
    NEW HAMPSHIRE
    Similarity Rank: 756
    NESC
    Similarity Rank: 772

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,110 $281,080,000 $253,225 $1,889 3.41%
    HELOC 492 $53,960,000 $109,675 n/a 2.97%

    For 2020, Rockland's most frequently originated type of loan was Conventional, with 1,110 originations. Their 2nd most popular type was HELOC, with 492 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 731 $124,145,000 $169,829 $1,547 3.27%
    Refi 353 $97,355,000 $275,793 $2,179 3.28%
    Other 261 $24,135,000 $92,471 $0 3.30%
    Home Purchase 135 $46,335,000 $343,222 $3,064 3.32%
    Cash Out Refi 117 $41,755,000 $356,880 $2,549 3.17%
    NA 5 $1,315,000 $263,000 $0 3.90%

    For 2020, Rockland's most frequently cited loan purpose was Home Improvement, with 731 originations. The 2nd most popular reason was Refi, with 353 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 640 $89,380,000 $139,656 $1,912 3.12%
    30 Year 461 $164,385,000 $356,584 $2,640 3.39%
    15 Year 258 $57,620,000 $223,333 $1,749 3.19%
    10 Year 151 $12,735,000 $84,338 $422 3.58%
    Other 45 $8,295,000 $184,333 $603 3.69%
    5 Year 45 $1,945,000 $43,222 $0 3.48%
    30+ year 1 $275,000 $275,000 $3,479 3.50%
    3 Year 1 $405,000 $405,000 $1,100 0.00%

    For 2020, Rockland's most frequently cited loan duration was 20 Year, with 640 originations. The 2nd most popular length was 30 Year, with 461 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,076 $267,730,000 $248,820
    $3k-4k 10 $3,020,000 $302,000
    $2k-3k 5 $1,245,000 $249,000
    $4k-5k 3 $1,215,000 $405,000
    $1k-2k 1 $115,000 $115,000

    Rockland's average total fees were $2,640, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,076 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 829 $214,265,000 $258,462
    2.5-3% 654 $107,630,000 $164,572
    4-5% 115 $12,235,000 $106,391
    <2.5% 4 $910,000 $227,500

    During 2020, Rockland's average interest rate for loans was 3.39%, while their most frequently originated rate bucket for loans was 3-4%, with 829 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 534 $152,460,000 $285,506 $2,529 3.21%
    $100,000 or less 527 $26,205,000 $49,725 $161 3.39%
    $100k-200k 369 $51,395,000 $139,282 $1,719 3.20%
    $400k-600k 117 $56,335,000 $481,496 $2,819 3.27%
    $600k-1MM 42 $32,450,000 $772,619 $3,099 3.26%
    $1MM+ 13 $16,195,000 $1,245,769 $4,507 3.38%

    2020 saw Rockland place emphasis on $200k-400k loans with 534 originations, totaling $152,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 439 $101,715,000 $231,697 $1,958 3.23%
    $100k-150k 429 $83,155,000 $193,834 $1,808 3.31%
    $75k-100k 262 $43,070,000 $164,389 $1,699 3.29%
    $50k-75k 223 $34,215,000 $153,430 $1,828 3.34%
    $250k+ 143 $56,125,000 $392,483 $2,613 3.10%
    $50k or less 87 $8,925,000 $102,586 $1,677 3.30%

    Rockland lent most frequently to those with incomes in the $150k-250k range, with 439 originations. The second most popular income band? $100k-150k, with 429 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 424 $91,390,000 $215,542 $1,948 3.27%
    30-36% 310 $62,800,000 $202,581 $1,810 3.36%
    <20% 155 $28,795,000 $185,774 $1,738 3.18%
    50-60% 90 $12,600,000 $140,000 $2,634 3.16%
    43% 64 $11,350,000 $177,344 $1,202 3.38%
    38% 60 $13,740,000 $229,000 $1,951 3.26%
    42% 57 $9,825,000 $172,368 $1,210 3.43%
    41% 52 $11,050,000 $212,500 $1,707 3.47%
    36% 52 $12,040,000 $231,538 $1,954 3.32%
    37% 49 $11,865,000 $242,143 $1,869 3.29%
    39% 48 $11,120,000 $231,667 $1,962 3.34%
    40% 43 $6,865,000 $159,651 $1,628 3.31%
    44% 37 $9,035,000 $244,189 $2,575 3.03%
    46% 28 $5,590,000 $199,643 $2,373 3.09%
    49% 27 $8,335,000 $308,704 $2,652 3.15%
    45% 27 $4,905,000 $181,667 $2,421 3.05%
    >60% 26 $5,920,000 $227,692 $2,885 2.97%
    48% 19 $4,615,000 $242,895 $2,666 3.24%
    47% 18 $5,180,000 $287,778 $2,678 2.93%

    Rockland lent most frequently to those with DTI ratios of 20-30%, with 424 originations. The next most common DTI ratio? 30-36%, with 310 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,344 $269,890,000 $200,811 $1,865 3.28%
    Not provided 184 $39,860,000 $216,630 $1,969 3.20%
    Asian 26 $11,800,000 $453,846 $2,482 3.08%
    Black 26 $6,220,000 $239,231 $1,967 3.30%
    Not applicable 11 $5,905,000 $536,818 $0 3.93%
    American Indian 7 $1,015,000 $145,000 $1,820 3.20%
    Chinese 2 $130,000 $65,000 $0 3.25%
    Asian Indian 1 $115,000 $115,000 $0 4.00%
    Other Asian 1 $105,000 $105,000 $0 2.75%

    Approval Rates

    Total approvals of all applications
    87.74%

    Rockland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.78%

    Rockland has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $35,000 $35,000
    NA 1,601 $335,005,000 $209,247

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $2,590,000 $1,295,000
    Single Family (1-4 Units):Site-Built 1,600 $332,450,000 $207,781

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 305 $49,535,000 $162,410 $1,491 3.19%
    40-60% 246 $68,920,000 $280,163 $2,402 3.17%
    60-80% 366 $135,940,000 $371,421 $2,632 3.27%
    80-100% 116 $44,880,000 $386,897 $2,869 3.40%
    Under 20% 568 $35,560,000 $62,606 $70 3.34%