Foxboro Federal Savings Mortgage Rates, Fees & Info

Foxborough, MA

LEI: 5493001HBW8F635CC420

Tax ID: 04-1339492

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Foxboro Federal Savings is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Foxboro Federal Savings has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Worcester, and Barnstable Town among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Foxboro Federal Savings has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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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    Originations

    105

    Origination Dollar Volume (All Markets)

    $33,025,000

    Employee count

    22

    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) 66 $21,920,000 $332,121 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 31 $9,105,000 $293,710 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 6 $1,270,000 $211,667 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $730,000 $365,000 $0 0.00%
    Foxboro Federal Savings's top markets include Boston, Providence, Worcester, and Barnstable Town among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 105 $33,025,000 $314,524 $0 0.00%

    For 2020, Foxboro Federal Savings's most frequently originated type of loan was Conventional, with 105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 54 $16,790,000 $310,926 $0 0.00%
    Refi 40 $13,130,000 $328,250 $0 0.00%
    Home Purchase 8 $2,960,000 $370,000 $0 0.00%
    Home Improvement 2 $90,000 $45,000 $0 0.00%
    Other 1 $55,000 $55,000 $0 0.00%

    For 2020, Foxboro Federal Savings's most frequently cited loan purpose was Cash Out Refi, with 54 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 105 $33,025,000 $314,524 $0 0.00%

    For 2020, Foxboro Federal Savings's most frequently cited loan duration was Other, with 105 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 59 $17,455,000 $295,847 $0 0.00%
    $100k-200k 19 $3,055,000 $160,789 $0 0.00%
    $400k-600k 15 $7,005,000 $467,000 $0 0.00%
    $100,000 or less 6 $400,000 $66,667 $0 0.00%
    $600k-1MM 6 $5,110,000 $851,667 $0 0.00%

    2020 saw Foxboro Federal Savings place emphasis on $200k-400k loans with 59 originations, totaling $17,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 48 $15,350,000 $319,792 $0 0.00%
    $100k-150k 29 $8,055,000 $277,759 $0 0.00%
    $250k+ 13 $5,575,000 $428,846 $0 0.00%
    $50k-75k 7 $1,535,000 $219,286 $0 0.00%
    $75k-100k 7 $1,605,000 $229,286 $0 0.00%

    Foxboro Federal Savings lent most frequently to those with incomes in the $150k-250k range, with 48 originations. The second most popular income band? $100k-150k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 105 $33,025,000 $314,524 $0 0.00%

    Foxboro Federal Savings lent most frequently to those with DTI ratios of Exempt%, with 105 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 81 $24,505,000 $302,531 $0 0.00%
    Not provided 19 $6,475,000 $340,789 $0 0.00%
    Asian 4 $1,140,000 $285,000 $0 0.00%
    Not applicable 1 $905,000 $905,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.05%

    Foxboro Federal Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    60.95%

    Foxboro Federal Savings 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
    Exempt 105 $33,025,000 $314,524

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 105 $33,025,000 $314,524

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Foxboro Federal Savings 129 South Street Plainville, MA 2762 Full Service B&M $36,809
    Foxboro Federal Savings 160 Main Street Norfolk, MA 2056 Full Service B&M $40,053
    Foxboro Federal Savings One Central St Foxboro, MA 2035 Full Service B&M $72,778

    For 2020, Foxboro Federal Savings had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,101
    Net interest income $4,550
    Total noninterest income $562
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $183
    Trading account gains and fees $0
    Additional Noninterest Income $379
    Pre-tax net operating income $1,219
    Securities gains (or losses, -) $1
    Income before extraordinary items $1,067
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,067
    Minority interest net income $0
    Net income $1,067
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,066

    Foxboro Federal Savings's gross interest income from loans was $5,101,000.
    Foxboro Federal Savings's net interest income from loans was $4,550,000.
    Foxboro Federal Savings's fee based income from loans was $183,000.
    Foxboro Federal Savings's net income from loans was $1,067,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $551
    Provision for credit losses $0
    Total noninterest expense $3,893
    Salaries and employee benefits $2,285
    Premises and equipment expense $404
    Additional noninterest expense $1,204
    Applicable income taxes $153
    Net charge-offs $0
    Cash dividends $0

    Foxboro Federal Savings's interest expense for loans was $551,000.
    Foxboro Federal Savings's payroll and benefits expense were $2,285,000.
    Foxboro Federal Savings's property, plant and equipment expenses $404,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $156,049
    Deposits held in domestic offices $156,049
    Deposits by Individuals, partnerships, and corporations $154,404
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $1,645
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $75,683
    Demand deposits $22,003
    Nontransaction accounts $80,366
    Money market deposit accounts (MMDAs) $7,011
    Other savings deposits (excluding MMDAs) $36,057
    Total time deposits $37,298
    Total time and savings deposits $134,046
    Noninterest-bearing deposits $17,775
    Interest-bearing deposits $138,274
    Retail deposits $149,378
    IRAs and Keogh plan accounts $6,838
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $187,543
    Cash & Balances due from depository institutions $24,086
    Interest-bearing balances $23,301
    Total securities $48,810
    Federal funds sold & reverse repurchase $0
    Net loans and leases $107,778
    Loan and leases loss allowance $969
    Trading account assets $0
    Bank premises and fixed assets $362
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,507

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $187,543
    Total Liabilities $157,424
    Total deposits $156,049
    Interest-bearing deposits $138,274
    Deposits held in domestic offices $156,049
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,375

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $107,778
    Loan and leases loss allowance $969
    Total loans and leases (domestic) $108,747
    All real estate loans $107,417
    Real estate loans in domestic offices $107,417
    Construction and development loans $900
    Residential 1-4 family construction $900
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $0
    Nonfarm nonresidential secured by owner-occupied properties $0
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $0
    1-4 family residential loans $106,517
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $1,380
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $156
    Other loans to individuals $1,224
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Foxboro Federal Savings had $107,778,000 of loans outstanding in 2020. $107,417,000 of loans were in real estate loans. $900,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $106,517,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $156,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan