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, Refi, and Cash Out Refi 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 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

    1,636

    Origination Dollar Volume (All Markets)

    $307,980,000

    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) 1,302 $248,200,000 $190,630 $1,759 2.91%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 245 $41,695,000 $170,184 $1,698 2.97%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 74 $15,200,000 $205,405 $1,545 2.92%
    WORCESTER, MA-CT (FHA|USDA|VA) 13 $2,095,000 $161,154 $1,916 2.78%
    Laconia, NH (FHA|USDA|VA) 1 $405,000 $405,000 $2,709 3.25%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $385,000 $385,000 $0 3.50%
    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: 87
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396
    OCEAN STATE CREDIT UNION
    Similarity Rank: 405
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Rhode Island Credit Union
    Similarity Rank: 524
    Sharon & Crescent United Credit Union
    Similarity Rank: 540
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 596
    WESTERLY COMMUNITY
    Similarity Rank: 618
    East Boston Savings Bank
    Similarity Rank: 755

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,041 $240,445,000 $230,975 $1,742 3.02%
    HELOC 595 $67,535,000 $113,504 n/a 2.75%

    For 2021, Rockland's most frequently originated type of loan was Conventional, with 1,041 originations. Their 2nd most popular type was HELOC, with 595 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 647 $71,995,000 $111,275 $637 2.98%
    Refi 342 $87,260,000 $255,146 $2,153 2.82%
    Cash Out Refi 278 $84,380,000 $303,525 $2,523 2.80%
    Other 270 $30,310,000 $112,259 $0 3.01%
    Home Purchase 99 $34,035,000 $343,788 $2,961 3.04%

    For 2021, Rockland's most frequently cited loan purpose was Home Improvement, with 647 originations. The 2nd most popular reason was Refi, with 342 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 742 $95,280,000 $128,410 $1,217 2.86%
    30 Year 374 $128,940,000 $344,759 $2,681 3.04%
    15 Year 285 $54,615,000 $191,632 $1,490 2.80%
    10 Year 136 $14,590,000 $107,279 $891 3.00%
    Other 68 $12,290,000 $180,735 $1,158 3.13%
    5 Year 30 $1,400,000 $46,667 $0 3.17%
    30+ year 1 $865,000 $865,000 $6,295 3.13%

    For 2021, Rockland's most frequently cited loan duration was 20 Year, with 742 originations. The 2nd most popular length was 30 Year, with 374 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,003 $228,895,000 $228,210
    $2k-3k 9 $1,965,000 $218,333
    $3k-4k 7 $2,135,000 $305,000
    $1k-2k 5 $925,000 $185,000
    $4k-5k 2 $750,000 $375,000

    Rockland's average total fees were $2,681, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,003 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,086 $182,340,000 $167,901
    3-4% 253 $69,365,000 $274,170
    <2.5% 214 $50,650,000 $236,682
    4-5% 83 $5,625,000 $67,771

    During 2021, Rockland's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,086 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 559 $28,785,000 $51,494 $197 3.05%
    $200k-400k 485 $133,135,000 $274,505 $2,459 2.83%
    $100k-200k 450 $63,410,000 $140,911 $1,585 2.85%
    $400k-600k 97 $46,035,000 $474,588 $2,826 2.95%
    $600k-1MM 37 $26,845,000 $725,541 $3,401 2.99%
    $1MM+ 8 $9,770,000 $1,221,250 $3,934 2.75%

    2021 saw Rockland place emphasis on $100,000 or less loans with 559 originations, totaling $28,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 450 $80,060,000 $177,911 $1,767 2.88%
    $150k-250k 442 $93,900,000 $212,443 $1,789 2.93%
    $75k-100k 298 $47,460,000 $159,262 $1,668 2.94%
    $50k-75k 214 $32,820,000 $153,364 $1,703 2.96%
    $250k+ 134 $40,170,000 $299,776 $1,888 2.85%
    $50k or less 83 $8,795,000 $105,964 $1,600 2.94%

    Rockland lent most frequently to those with incomes in the $100k-150k range, with 450 originations. The second most popular income band? $150k-250k, with 442 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 438 $82,650,000 $188,699 $1,747 2.89%
    30-36% 313 $58,125,000 $185,703 $1,775 2.93%
    <20% 149 $27,285,000 $183,121 $1,751 2.84%
    50-60% 96 $14,900,000 $155,208 $2,093 2.83%
    42% 69 $10,475,000 $151,812 $1,110 3.13%
    36% 67 $9,585,000 $143,060 $1,351 2.95%
    41% 52 $8,560,000 $164,615 $1,371 2.97%
    38% 50 $8,910,000 $178,200 $1,544 3.08%
    40% 47 $10,235,000 $217,766 $1,841 3.06%
    43% 46 $6,800,000 $147,826 $1,070 3.05%
    37% 44 $7,470,000 $169,773 $1,703 2.86%
    39% 44 $9,240,000 $210,000 $1,553 3.14%
    44% 40 $10,350,000 $258,750 $2,559 2.79%
    >60% 33 $7,015,000 $212,576 $2,704 2.79%
    45% 32 $6,560,000 $205,000 $2,404 2.87%
    46% 29 $6,335,000 $218,448 $2,364 2.79%
    48% 27 $8,685,000 $321,667 $2,352 2.87%
    49% 25 $5,175,000 $207,000 $2,407 2.85%
    47% 22 $4,650,000 $211,364 $2,421 2.82%

    Rockland lent most frequently to those with DTI ratios of 20-30%, with 438 originations. The next most common DTI ratio? 30-36%, with 313 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,295 $242,305,000 $187,108 $1,758 2.92%
    Not provided 254 $47,020,000 $185,118 $1,609 2.92%
    Black 42 $8,460,000 $201,429 $1,793 2.99%
    Asian 24 $4,640,000 $193,333 $1,999 2.80%
    Not applicable 7 $3,025,000 $432,143 $0 3.66%
    American Indian 6 $1,550,000 $258,333 $2,669 2.77%
    Asian Indian 5 $665,000 $133,000 $0 2.85%
    Native Hawaiian or Islander 2 $260,000 $130,000 $1,076 3.31%
    Other Asian 1 $55,000 $55,000 $0 2.75%

    Approval Rates

    Total approvals of all applications
    88.64%

    Rockland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.91%

    Rockland has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,636 $307,980,000 $188,252

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,636 $307,980,000 $188,252

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 364 $61,950,000 $170,192 $1,511 2.80%
    40-60% 259 $71,225,000 $275,000 $2,416 2.78%
    60-80% 268 $100,240,000 $374,030 $2,652 2.95%
    80-100% 77 $29,975,000 $389,286 $2,899 3.02%
    Over 100% 1 $65,000 $65,000 $0 3.75%
    Under 20% 666 $44,160,000 $66,306 $106 3.02%