Holyoke Mortgage Rates, Fees & Info
Holyoke, MALEI: 5493001F1MFNT7Y4FU47
Tax ID: 04-1448660
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Mortgage Data
Review & Overview
Holyoke is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Holyoke has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Boston, Providence, and Worcester among others. We have data for 7 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.53% | 11/22/24 |
| 30 Year Conventional Refi | 6.43% | 11/22/24 |
| 30 Year Cash-out Refi | 6.48% | 11/22/24 |
| 15 Year Conventional Purchase | 3.96% | 11/22/24 |
| 15 Year Conventional Refi | 5.85% | 11/22/24 |
| 15 Year Cash-out Refi | 5.85% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
302Origination Dollar Volume (All Markets)
$51,080,000Top 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) | 284 | $46,910,000 | $165,176 | $2,615 | 3.34% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 9 | $1,915,000 | $212,778 | $2,201 | 3.39% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $2,209 | 3.58% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $4,457 | 3.06% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $1,954 | 4.75% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,510 | 3.13% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,894 | 4.13% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 302 | $51,080,000 | $169,139 | $2,610 | 3.35% |
For 2020, Holyoke's most frequently originated type of loan was Conventional, with 302 originations.
Loan Reason
For 2020, Holyoke's most frequently cited loan purpose was Refi, with 118 originations. The 2nd most popular reason was Home Purchase, with 75 originations.
Loan Duration/Length
For 2020, Holyoke's most frequently cited loan duration was 30 Year, with 117 originations. The 2nd most popular length was 15 Year, with 77 originations.
Origination Fees/Closing Costs
Holyoke's average total fees were $3,739, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 190 originations.
Interest Rates
During 2020, Holyoke's average interest rate for loans was 3.28%, while their most frequently originated rate bucket for loans was 3-4%, with 149 originations.
Loan Sizing
2020 saw Holyoke place emphasis on $100k-200k loans with 116 originations, totaling $17,930,000 in origination value.
Applicant Income
Holyoke lent most frequently to those with incomes in the $50k-75k range, with 76 originations. The second most popular income band? $75k-100k, with 73 originations.
Applicant Debt to Income Ratio
Holyoke lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 59 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.98%
Holyoke has an average approval rate.
Pick Rate
Approvals leading to origination52.98%
Holyoke has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 302 | $51,080,000 | $169,139 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 4 | $1,750,000 | $437,500 |
| Single Family (1-4 Units):Site-Built | 298 | $49,330,000 | $165,537 |