Institution For Savings In Newburyport And Its Vicinity Mortgage Rates, Fees & Info

Newburyport, MA

LEI: 5493001QVY14BXG42N39

Tax ID: 04-1471660

5 stars - Updated: 11/21/24 - out of 5 stars, based on 28 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Institution For Savings In Newburyport And Its Vicinity is a smaller mortgage company specializing in Home Purchase loans. Institution For Savings In Newburyport And Its Vicinity has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Barnstable Town, Vineyard Haven, and Providence among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Institution For Savings In Newburyport And Its Vicinity 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. Institution For Savings In Newburyport And Its Vicinity is typically an average 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 relatively high 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
    Home Equity Line of Credit (HELOC) 5.82% 11/21/24
    30 Year Conventional Purchase 5.58% 11/21/24
    30 Year Conventional Refi 5.76% 11/21/24
    15 Year Conventional Purchase 4.81% 11/21/24
    15 Year Conventional Refi 5.26% 11/21/24
    15 Year Cash-out Refi 5.26% 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.

    Institution For Savings In Newburyport And Its Vicinity Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Institution For Savings In Newburyport And Its Vicinity. 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

    794

    Origination Dollar Volume (All Markets)

    $390,830,000

    Awards

    Institution for Savings in Newburyport and Its Vicinity 30 Year Conventional Loans silver Institution for Savings in Newburyport and Its Vicinity 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Institution For Savings In Newburyport And Its Vicinity's average 30 year fixed mortgage rate was 5.97%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.51%.

    Relative Fees (Closing Costs)

    Institution For Savings In Newburyport And Its Vicinity's average total fees/closing costs for a 30 year fixed rate mortgage were $5,636.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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) 753 $369,615,000 $490,857 $5,019 6.27%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 15 $8,675,000 $578,333 $3,905 5.88%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 12 $6,800,000 $566,667 $6,381 6.37%
    Vineyard Haven, MA (FHA|USDA|VA) 3 $2,295,000 $765,000 $5,642 5.42%
    Outside of Metro Areas 4 $1,150,000 $287,500 $4,016 6.31%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $1,100,000 $550,000 $7,745 5.88%
    WORCESTER, MA-CT (FHA|USDA|VA) 3 $1,035,000 $345,000 $3,575 6.33%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.00%
    Concord, NH (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.50%
    Institution For Savings In Newburyport And Its Vicinity's top markets include Boston, Manchester, Barnstable Town, Vineyard Haven, and Providence among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Similar Lenders

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

    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    Saco Valley Credit Union
    Similarity Rank: 64
    Bath Savings Institution
    Similarity Rank: 115
    Norway Savings Bank
    Similarity Rank: 126
    Sharon & Crescent United Credit Union
    Similarity Rank: 130
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 150
    GREYLOCK
    Similarity Rank: 160
    Piscataqua Savings Bank
    Similarity Rank: 177
    CUMBERLAND COUNTY
    Similarity Rank: 200
    EVERGREEN
    Similarity Rank: 204

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 637 $366,105,000 $574,733 $5,014 5.90%
    HELOC 157 $24,725,000 $157,484 n/a 7.73%

    For 2023, Institution For Savings In Newburyport And Its Vicinity's most frequently originated type of loan was Conventional, with 637 originations. Their 2nd most popular type was HELOC, with 157 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 511 $304,825,000 $596,526 $5,713 5.90%
    Home Improvement 135 $19,745,000 $146,259 $1,037 7.22%
    Refi 91 $55,605,000 $611,044 $2,959 6.35%
    Other 57 $10,655,000 $186,930 $2,777 7.12%

    For 2023, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan purpose was Home Purchase, with 511 originations. The 2nd most popular reason was Home Improvement, with 135 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 458 $259,950,000 $567,576 $5,636 5.97%
    20 Year 171 $24,505,000 $143,304 $1,404 7.59%
    15 Year 93 $36,275,000 $390,054 $3,593 5.46%
    10 Year 58 $53,770,000 $927,069 $1,500 5.90%
    5 Year 5 $445,000 $89,000 $516 6.05%
    Other 5 $12,055,000 $2,411,000 $0 7.87%
    30+ year 4 $3,830,000 $957,500 $19,699 5.81%

    For 2023, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan duration was 30 Year, with 458 originations. The 2nd most popular length was 20 Year, with 171 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 468 $221,190,000 $472,628
    $5k+ 104 $73,790,000 $709,519
    $4k-5k 12 $4,810,000 $400,833
    $3k-4k 10 $3,670,000 $367,000
    $2k-3k 9 $3,425,000 $380,556
    $1k-2k 6 $1,340,000 $223,333

    Institution For Savings In Newburyport And Its Vicinity's average total fees were $5,636, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 468 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 358 $222,000,000 $620,112
    7-8% 185 $46,275,000 $250,135
    6-7% 179 $93,765,000 $523,827
    4-5% 67 $25,145,000 $375,299
    Over 8% 5 $3,645,000 $729,000

    During 2023, Institution For Savings In Newburyport And Its Vicinity's average interest rate for loans was 5.97%, while their most frequently originated rate bucket for loans was 5-6%, with 358 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 193 $56,335,000 $291,891 $3,577 6.23%
    $400k-600k 171 $85,405,000 $499,444 $5,303 5.90%
    $600k-1MM 165 $119,695,000 $725,424 $6,735 5.96%
    $100k-200k 121 $16,575,000 $136,983 $1,936 6.69%
    $100,000 or less 85 $4,715,000 $55,471 $656 7.24%
    $1MM+ 59 $108,105,000 $1,832,288 $9,993 6.05%

    2023 saw Institution For Savings In Newburyport And Its Vicinity place emphasis on $200k-400k loans with 193 originations, totaling $56,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 274 $110,550,000 $403,467 $4,814 6.30%
    $250k+ 250 $161,190,000 $644,760 $6,539 6.22%
    $100k-150k 142 $42,390,000 $298,521 $3,829 6.29%
    $75k-100k 60 $13,290,000 $221,500 $3,104 6.08%
    $50k-75k 32 $4,550,000 $142,188 $2,521 6.13%
    $50k or less 5 $455,000 $91,000 $1,865 6.15%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with incomes in the $150k-250k range, with 274 originations. The second most popular income band? $250k+, with 250 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 243 $106,495,000 $438,251 $5,230 6.25%
    30-36% 205 $89,995,000 $439,000 $4,654 6.19%
    <20% 60 $24,020,000 $400,333 $5,549 6.27%
    40% 41 $18,315,000 $446,707 $5,522 6.39%
    36% 37 $18,405,000 $497,432 $6,556 6.13%
    38% 35 $10,915,000 $311,857 $3,440 6.18%
    37% 33 $15,215,000 $461,061 $5,577 6.41%
    42% 32 $12,330,000 $385,313 $4,370 6.68%
    41% 31 $12,165,000 $392,419 $5,193 6.25%
    39% 22 $9,230,000 $419,545 $3,917 6.35%
    43% 17 $8,525,000 $501,471 $4,890 6.04%
    45% 4 $2,050,000 $512,500 $3,502 5.75%
    47% 3 $2,405,000 $801,667 $4,091 5.00%
    44% 2 $410,000 $205,000 $2,786 6.13%
    46% 1 $715,000 $715,000 $4,300 6.50%
    49% 1 $25,000 $25,000 $0 7.00%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with DTI ratios of 20-30%, with 243 originations. The next most common DTI ratio? 30-36%, with 205 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 590 $245,580,000 $416,237 $4,878 6.35%
    Not provided 121 $60,815,000 $502,603 $5,096 6.02%
    Not applicable 22 $50,490,000 $2,295,000 $0 6.72%
    Asian 48 $29,300,000 $610,417 $6,091 5.74%
    Black 8 $3,200,000 $400,000 $5,789 6.09%
    American Indian 4 $1,220,000 $305,000 $5,654 6.31%
    Other Pacific Islander 1 $225,000 $225,000 $1,735 4.75%

    Approval Rates

    Total approvals of all applications
    92.48%

    Institution For Savings In Newburyport And Its Vicinity has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.33%

    Institution For Savings In Newburyport And Its Vicinity has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 794 $390,830,000 $492,229

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    794 $390,830,000 $492,229

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 107 $28,435,000 $265,748 $3,383 6.45%
    40-60% 95 $48,395,000 $509,421 $5,066 5.93%
    60-80% 232 $184,630,000 $795,819 $6,307 5.95%
    80-100% 184 $109,720,000 $596,304 $5,432 5.88%
    Under 20% 176 $19,650,000 $111,648 $1,167 7.15%