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 Cash Out Refi, Refi, and Home Purchase loans. Holyoke has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Barnstable Town, Worcester, and Lebanon among others. We have data for 8 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
305Origination Dollar Volume (All Markets)
$55,785,000Top 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) | 293 | $52,535,000 | $179,300 | $2,823 | 3.28% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 6 | $1,600,000 | $266,667 | $3,731 | 3.15% |
| Outside of Metro Areas | 1 | $505,000 | $505,000 | $3,874 | 3.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $88 | 3.88% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,412 | 3.25% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,728 | 3.25% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,454 | 3.25% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $280 | 4.00% |
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 | 305 | $55,785,000 | $182,902 | $2,824 | 3.28% |
For 2021, Holyoke's most frequently originated type of loan was Conventional, with 305 originations.
Loan Reason
For 2021, Holyoke's most frequently cited loan purpose was Cash Out Refi, with 95 originations. The 2nd most popular reason was Refi, with 90 originations.
Loan Duration/Length
For 2021, Holyoke's most frequently cited loan duration was 30 Year, with 142 originations. The 2nd most popular length was 20 Year, with 67 originations.
Origination Fees/Closing Costs
Holyoke's average total fees were $3,917, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 198 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 142 | $24,920,000 | $175,493 |
| 2.5-3% | 114 | $23,850,000 | $209,211 |
| <2.5% | 21 | $3,825,000 | $182,143 |
| 4-5% | 18 | $2,400,000 | $133,333 |
| 5-6% | 10 | $790,000 | $79,000 |
During 2021, Holyoke's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 142 originations.
Loan Sizing
2021 saw Holyoke place emphasis on $100k-200k loans with 136 originations, totaling $20,800,000 in origination value.
Applicant Income
Holyoke lent most frequently to those with incomes in the $50k-75k range, with 85 originations. The second most popular income band? $100k-150k, with 74 originations.
Applicant Debt to Income Ratio
Holyoke lent most frequently to those with DTI ratios of 20-30%, with 82 originations. The next most common DTI ratio? 30-36%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.40%
Holyoke has an average approval rate.
Pick Rate
Approvals leading to origination62.95%
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 | 305 | $55,785,000 | $182,902 |