Holyoke Mortgage Rates, Fees & Info

Holyoke, MA

LEI: 5493001F1MFNT7Y4FU47

Tax ID: 04-1448660

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

    Holyoke is a smaller mortgage company specializing in Home Purchase loans. Holyoke has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Boston, Barnstable Town, and Worcester among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Holyoke 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. Holyoke 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
    30 Year Conventional Purchase 6.53% 4/28/24
    30 Year Conventional Refi 6.43% 4/28/24
    30 Year Cash-out Refi 6.48% 4/28/24
    15 Year Conventional Purchase 3.96% 4/28/24
    15 Year Conventional Refi 5.85% 4/28/24
    15 Year Cash-out Refi 5.85% 4/28/24
    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.

    Holyoke Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Holyoke. 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

    231

    Origination Dollar Volume (All Markets)

    $34,245,000

    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
    SPRINGFIELD, MA (FHA|USDA|VA) 223 $32,405,000 $145,314 $2,268 4.75%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $735,000 $245,000 $2,922 4.67%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $690,000 $345,000 $8,618 4.31%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $165,000 $165,000 $4,480 4.75%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $135,000 $135,000 $2,411 4.75%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $115,000 $115,000 $2,805 3.88%
    Holyoke's top markets include Springfield, Hartford, Boston, Barnstable Town, and Worcester among others.

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

    • Similar Lenders

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

    POLISH NATIONAL
    Similarity Rank: 48
    Workers Credit Union
    Similarity Rank: 168
    Florence Bank
    Similarity Rank: 168
    PeoplesBank
    Similarity Rank: 182
    HOLYOKE
    Similarity Rank: 228
    Country Bank for Savings
    Similarity Rank: 232
    Westfield Bank
    Similarity Rank: 247
    LUSO
    Similarity Rank: 256
    MEMBERS MORTGAGE COMPANY, INC.
    Similarity Rank: 368
    UMASSFIVE COLLEGE Federal Credit Union
    Similarity Rank: 670

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 231 $34,245,000 $148,247 $2,345 4.74%

    For 2018, Holyoke's most frequently originated type of loan was Conventional, with 231 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 128 $25,250,000 $197,266 $3,468 4.43%
    Home Improvement 35 $1,905,000 $54,429 $137 5.62%
    Refi 32 $3,930,000 $122,813 $1,936 4.35%
    Other 18 $690,000 $38,333 $78 5.88%
    Cash Out Refi 17 $2,345,000 $137,941 $1,828 4.82%
    NA 1 $125,000 $125,000 $2,761 4.63%

    For 2018, Holyoke's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Home Improvement, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 126 $24,670,000 $195,794 $3,530 4.54%
    20 Year 49 $5,175,000 $105,612 $664 5.45%
    15 Year 31 $3,245,000 $104,677 $1,852 4.07%
    10 Year 24 $1,120,000 $46,667 $58 5.23%
    5 Year 1 $35,000 $35,000 $111 4.38%

    For 2018, Holyoke's most frequently cited loan duration was 30 Year, with 126 originations. The 2nd most popular length was 20 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 152 $17,620,000 $115,921
    $1k-2k 58 $11,510,000 $198,448
    $2k-3k 9 $1,765,000 $196,111
    $4k-5k 3 $695,000 $231,667
    $3k-4k 2 $440,000 $220,000
    $5k+ 2 $800,000 $400,000

    Holyoke's average total fees were $3,530, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 152 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 147 $25,695,000 $174,796
    3-4% 33 $5,465,000 $165,606
    5-6% 23 $2,045,000 $88,913
    6-7% 22 $920,000 $41,818
    <2.5% 3 $15,000 $5,000
    7-8% 3 $105,000 $35,000

    During 2018, Holyoke's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 4-5%, with 147 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 101 $15,245,000 $150,941 $3,104 4.46%
    $100,000 or less 76 $3,370,000 $44,342 $345 5.27%
    $200k-400k 49 $13,305,000 $271,531 $3,692 4.53%
    $400k-600k 4 $1,690,000 $422,500 $5,905 4.28%
    $600k-1MM 1 $635,000 $635,000 $0 5.00%

    2018 saw Holyoke place emphasis on $100k-200k loans with 101 originations, totaling $15,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 70 $9,800,000 $140,000 $2,629 4.58%
    $75k-100k 55 $8,475,000 $154,091 $2,170 4.95%
    $100k-150k 49 $7,895,000 $161,122 $2,208 5.00%
    $50k or less 31 $3,495,000 $112,742 $2,451 4.27%
    $150k-250k 17 $3,095,000 $182,059 $1,692 4.89%
    $250k+ 8 $1,260,000 $157,500 $2,907 4.53%

    Holyoke lent most frequently to those with incomes in the $50k-75k range, with 70 originations. The second most popular income band? $75k-100k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 55 $7,095,000 $129,000 $2,221 4.68%
    30-36% 47 $5,875,000 $125,000 $2,253 5.07%
    37% 15 $2,095,000 $139,667 $1,942 5.01%
    38% 14 $2,090,000 $149,286 $2,635 4.93%
    43% 13 $1,905,000 $146,538 $2,547 4.32%
    39% 12 $1,690,000 $140,833 $2,105 4.99%
    41% 11 $1,605,000 $145,909 $2,233 4.63%
    40% 10 $1,490,000 $149,000 $2,560 4.23%
    <20% 10 $1,360,000 $136,000 $1,744 4.28%
    45% 6 $810,000 $135,000 $1,583 4.79%
    47% 6 $1,390,000 $231,667 $3,322 4.71%
    36% 6 $790,000 $131,667 $2,526 4.94%
    46% 6 $1,340,000 $223,333 $4,509 4.25%
    42% 4 $680,000 $170,000 $2,544 4.69%
    44% 4 $1,150,000 $287,500 $2,571 4.50%
    49% 4 $800,000 $200,000 $2,594 3.78%
    48% 3 $685,000 $228,333 $3,240 4.75%
    50-60% 1 $35,000 $35,000 $71 4.88%

    Holyoke lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 209 $31,165,000 $149,115 $2,328 4.76%
    Black 7 $895,000 $127,857 $2,453 4.25%
    Asian 5 $785,000 $157,000 $2,529 4.63%
    Not provided 5 $715,000 $143,000 $1,967 4.60%
    American Indian 3 $275,000 $91,667 $3,329 4.71%
    Not applicable 1 $225,000 $225,000 $0 5.50%
    Native Hawaiian or Islander 1 $185,000 $185,000 $3,131 4.63%

    Approval Rates

    Total approvals of all applications
    84.45%

    Holyoke has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.12%

    Holyoke has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 231 $34,245,000 $148,247

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,245,000 $415,000
    Single Family (1-4 Units):Site-Built 228 $33,000,000 $144,737

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $1,530,000 $63,750 $281 5.26%
    40-60% 14 $1,850,000 $132,143 $2,906 4.29%
    60-80% 57 $10,825,000 $189,912 $3,335 4.44%
    80-100% 87 $17,995,000 $206,839 $3,432 4.53%
    Over 100% 2 $300,000 $150,000 $3,888 4.44%
    Under 20% 47 $1,745,000 $37,128 $59 5.38%