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

Newburyport, MA

LEI: 5493001QVY14BXG42N39

Tax ID: 04-1471660

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

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  • 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)

    • Bank Data

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

    • Review & Overview

    Institution For Savings In Newburyport And Its Vicinity is a smaller mortgage company specializing in Home Purchase and Refi loans. Institution For Savings In Newburyport And Its Vicinity has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, Providence, and Laconia among others. We have data for 11 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 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
    Home Equity Line of Credit (HELOC) 5.82% 11/23/24
    30 Year Conventional Purchase 5.58% 11/23/24
    30 Year Conventional Refi 5.76% 11/23/24
    15 Year Conventional Purchase 4.81% 11/23/24
    15 Year Conventional Refi 5.26% 11/23/24
    15 Year Cash-out Refi 5.26% 11/23/24
    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






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    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    974

    Origination Dollar Volume (All Markets)

    $428,860,000

    Employee count

    203

    Awards

    Institution for Savings in Newburyport and Its Vicinity 30 Year Conventional Loans bronze Institution for Savings in Newburyport and Its Vicinity 30 Year Conventional Loans bronze Institution for Savings in Newburyport and Its Vicinity 30 Year Conventional Loans gold
    Show all (3) awards

    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) 917 $406,655,000 $443,462 $3,096 4.01%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 17 $6,945,000 $408,529 $2,802 3.85%
    WORCESTER, MA-CT (FHA|USDA|VA) 12 $5,260,000 $438,333 $3,146 4.28%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 10 $3,940,000 $394,000 $2,823 3.94%
    Laconia, NH (FHA|USDA|VA) 4 $1,370,000 $342,500 $2,828 3.65%
    Outside of Metro Areas 3 $1,125,000 $375,000 $3,361 4.21%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,110,000 $277,500 $2,871 3.81%
    Vineyard Haven, MA (FHA|USDA|VA) 2 $1,040,000 $520,000 $3,011 3.37%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $765,000 $255,000 $2,310 3.71%
    Concord, NH (FHA|USDA|VA) 1 $345,000 $345,000 $2,516 3.25%
    Berlin, NH (FHA|USDA|VA) 1 $305,000 $305,000 $2,724 4.25%
    Institution For Savings In Newburyport And Its Vicinity's top markets include Boston, Barnstable Town, Worcester, Providence, and Laconia 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.

    Saco Valley Credit Union
    Similarity Rank: 70
    CASCO
    Similarity Rank: 90
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    CUMBERLAND COUNTY
    Similarity Rank: 120
    Martha's Vineyard Savings Bank
    Similarity Rank: 128
    Triangle Credit Union
    Similarity Rank: 147
    Maine Savings Federal Credit Union
    Similarity Rank: 160
    First Ipswich Bank
    Similarity Rank: 164
    Coastal Heritage Bank
    Similarity Rank: 180

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 974 $428,860,000 $440,308 $3,083 4.01%

    For 2018, Institution For Savings In Newburyport And Its Vicinity's most frequently originated type of loan was Conventional, with 974 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 512 $241,790,000 $472,246 $3,351 4.17%
    Refi 417 $176,595,000 $423,489 $2,885 3.77%
    Other 23 $6,945,000 $301,957 $2,065 4.14%
    Home Improvement 22 $3,530,000 $160,455 $1,694 4.50%

    For 2018, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan purpose was Home Purchase, with 512 originations. The 2nd most popular reason was Refi, with 417 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 576 $245,800,000 $426,736 $3,312 4.26%
    15 Year 211 $75,565,000 $358,128 $2,616 3.41%
    20 Year 83 $55,855,000 $672,952 $2,559 4.15%
    10 Year 57 $14,705,000 $257,982 $2,146 3.25%
    Other 32 $29,120,000 $910,000 $2,670 4.20%
    30+ year 9 $7,435,000 $826,111 $11,672 4.33%
    5 Year 5 $115,000 $23,000 $245 4.30%
    1 Year 1 $265,000 $265,000 $0 7.00%

    For 2018, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan duration was 30 Year, with 576 originations. The 2nd most popular length was 15 Year, with 211 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 835 $307,445,000 $368,198
    $1k-2k 38 $22,700,000 $597,368
    $5k+ 27 $17,465,000 $646,852
    $2k-3k 17 $6,365,000 $374,412
    $3k-4k 9 $3,535,000 $392,778
    $4k-5k 5 $2,955,000 $591,000

    Institution For Savings In Newburyport And Its Vicinity's average total fees were $3,312, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 835 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 568 $273,720,000 $481,901
    3-4% 299 $122,155,000 $408,545
    2.5-3% 91 $29,445,000 $323,571
    5-6% 8 $2,470,000 $308,750
    <2.5% 6 $650,000 $108,333
    6-7% 1 $265,000 $265,000

    During 2018, Institution For Savings In Newburyport And Its Vicinity's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 4-5%, with 568 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 409 $119,645,000 $292,531 $2,757 3.97%
    $400k-600k 240 $116,460,000 $485,250 $3,420 4.06%
    $100k-200k 143 $21,735,000 $151,993 $2,031 3.85%
    $600k-1MM 104 $73,500,000 $706,731 $4,532 3.98%
    $1MM+ 44 $95,860,000 $2,178,636 $7,393 4.23%
    $100,000 or less 34 $1,660,000 $48,824 $755 4.54%

    2018 saw Institution For Savings In Newburyport And Its Vicinity place emphasis on $200k-400k loans with 409 originations, totaling $119,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 305 $122,145,000 $400,475 $3,321 4.02%
    $100k-150k 210 $63,550,000 $302,619 $2,721 3.96%
    $250k+ 207 $131,075,000 $633,213 $3,878 3.86%
    $75k-100k 115 $28,825,000 $250,652 $2,538 4.08%
    $50k-75k 77 $14,585,000 $189,416 $2,278 4.08%
    $50k or less 23 $2,665,000 $115,870 $1,616 3.93%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with incomes in the $150k-250k range, with 305 originations. The second most popular income band? $100k-150k, with 210 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 317 $123,475,000 $389,511 $3,119 3.96%
    30-36% 232 $95,010,000 $409,526 $3,156 4.01%
    <20% 116 $41,400,000 $356,897 $2,942 3.83%
    37% 37 $13,825,000 $373,649 $2,734 4.10%
    36% 37 $15,325,000 $414,189 $3,323 4.07%
    40% 34 $13,790,000 $405,588 $3,188 4.05%
    39% 32 $12,720,000 $397,500 $3,122 4.07%
    38% 31 $10,565,000 $340,806 $2,764 4.10%
    42% 28 $8,990,000 $321,071 $3,226 4.07%
    41% 27 $10,295,000 $381,296 $2,642 4.02%
    43% 13 $5,865,000 $451,154 $3,575 4.12%
    44% 12 $3,660,000 $305,000 $2,571 4.21%
    50-60% 6 $1,770,000 $295,000 $2,409 3.48%
    45% 6 $2,460,000 $410,000 $4,435 3.98%
    46% 4 $1,590,000 $397,500 $2,862 3.88%
    >60% 4 $740,000 $185,000 $3,448 3.78%
    47% 3 $1,065,000 $355,000 $2,958 3.88%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with DTI ratios of 20-30%, with 317 originations. The next most common DTI ratio? 30-36%, with 232 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 721 $279,065,000 $387,053 $3,088 3.99%
    Not applicable 31 $64,475,000 $2,079,839 $0 4.71%
    Not provided 170 $61,640,000 $362,588 $3,139 4.04%
    Asian 29 $15,365,000 $529,828 $3,142 3.76%
    Black 17 $5,935,000 $349,118 $2,392 3.76%
    Asian Indian 3 $1,425,000 $475,000 $2,660 3.58%
    American Indian 3 $955,000 $318,333 $2,682 3.50%

    Approval Rates

    Total approvals of all applications
    93.38%

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

    Pick Rate

    Approvals leading to origination
    78.54%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 974 $428,860,000 $440,308

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 21 $57,915,000 $2,757,857
    Single Family (1-4 Units):Site-Built 953 $370,945,000 $389,239

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 127 $27,795,000 $218,858 $2,233 3.74%
    40-60% 216 $76,450,000 $353,935 $2,721 3.85%
    60-80% 387 $220,645,000 $570,142 $3,542 4.04%
    80-100% 200 $98,990,000 $494,950 $3,569 4.21%
    Over 100% 2 $1,410,000 $705,000 $5,866 3.88%
    Under 20% 42 $3,570,000 $85,000 $937 4.38%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Institution for Savings in Newburyport and Its Vicinity 112 County Road Ipswich, MA 1938 Full Service B&M $68,641
    Institution for Savings in Newburyport and Its Vicinity 161 South Main Street Middleton, MA 1949 Full Service B&M $344,098
    Institution for Savings in Newburyport and Its Vicinity 2-8 Depot Square Ipswich, MA 1938 Full Service B&M $321,638
    Institution for Savings in Newburyport and Its Vicinity 312 Haverhill Street Rowley, MA 1969 Full Service B&M $237,792
    Institution for Savings in Newburyport and Its Vicinity 37 King Street Rockport, MA 1966 Full Service B&M $143,573
    Institution for Savings in Newburyport and Its Vicinity 4 Colon Street Beverly, MA 1915 Full Service B&M $154,615
    Institution for Savings in Newburyport and Its Vicinity 4 Parker St. Gloucester, MA 1930 Full Service B&M $137,181
    Institution for Savings in Newburyport and Its Vicinity 5 Main Street Topsfield, MA 1983 Full Service B&M $165,936
    Institution for Savings in Newburyport and Its Vicinity 545 Bay Road Hamilton, MA 1936 Full Service B&M $35,510
    Institution for Savings in Newburyport and Its Vicinity 7 Bridge Road Salisbury, MA 1952 Full Service B&M $165,724
    Institution for Savings in Newburyport and Its Vicinity 7 Elm Street Boxford, MA 1921 Full Service B&M $36,735
    Institution for Savings in Newburyport and Its Vicinity 93 State Street Newburyport, MA 1950 Full Service B&M $522,936
    Institution for Savings in Newburyport and Its Vicinity Storey Avenue And Woodmen Way Newburyport, MA 1950 Full Service B&M $400,063

    For 2018, Institution For Savings In Newburyport And Its Vicinity had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $113,705
    Net interest income $65,403
    Total noninterest income $4,120
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $466
    Trading account gains and fees $0
    Additional Noninterest Income $3,654
    Pre-tax net operating income $23,598
    Securities gains (or losses, -) $22,637
    Income before extraordinary items $38,958
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $38,958
    Minority interest net income $0
    Net income $38,958
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $19,942

    Institution For Savings In Newburyport And Its Vicinity's gross interest income from loans was $113,705,000.
    Institution For Savings In Newburyport And Its Vicinity's net interest income from loans was $65,403,000.
    Institution For Savings In Newburyport And Its Vicinity's fee based income from loans was $466,000.
    Institution For Savings In Newburyport And Its Vicinity's net income from loans was $38,958,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $48,302
    Provision for credit losses $1,200
    Total noninterest expense $44,725
    Salaries and employee benefits $25,745
    Premises and equipment expense $4,830
    Additional noninterest expense $14,150
    Applicable income taxes $7,277
    Net charge-offs $47
    Cash dividends $0

    Institution For Savings In Newburyport And Its Vicinity's interest expense for loans was $48,302,000.
    Institution For Savings In Newburyport And Its Vicinity's payroll and benefits expense were $25,745,000.
    Institution For Savings In Newburyport And Its Vicinity's property, plant and equipment expenses $4,830,000.

    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 4.0%
    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 $2,837,022
    Deposits held in domestic offices $2,837,022
    Deposits by Individuals, partnerships, and corporations $2,803,243
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $33,780
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $329,450
    Demand deposits $143,271
    Nontransaction accounts $2,507,573
    Money market deposit accounts (MMDAs) $630,544
    Other savings deposits (excluding MMDAs) $202,425
    Total time deposits $1,674,604
    Total time and savings deposits $2,693,752
    Noninterest-bearing deposits $143,339
    Interest-bearing deposits $2,693,683
    Retail deposits $2,194,009
    IRAs and Keogh plan accounts $207,885
    Brokered deposits $41,206
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,470,490
    Cash & Balances due from depository institutions $73,879
    Interest-bearing balances $59,903
    Total securities $495,132
    Federal funds sold & reverse repurchase $3,787
    Net loans and leases $2,718,280
    Loan and leases loss allowance $12,258
    Trading account assets $0
    Bank premises and fixed assets $37,496
    Other real estate owned $0
    Goodwill and other intangibles $12,558
    All other assets $129,358

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,470,490
    Total Liabilities $3,134,173
    Total deposits $2,837,022
    Interest-bearing deposits $2,693,683
    Deposits held in domestic offices $2,837,022
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $9,406
    Trading liabilities $0
    Other borrowed funds $272,273
    Subordinated debt $0
    All other liabilities $15,472

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,718,280
    Loan and leases loss allowance $12,258
    Total loans and leases (domestic) $2,730,538
    All real estate loans $2,705,298
    Real estate loans in domestic offices $2,705,298
    Construction and development loans $15,906
    Residential 1-4 family construction $4,403
    Other construction, all land development and other land $11,503
    Loans secured by nonfarm nonresidential properties $363,757
    Nonfarm nonresidential secured by owner-occupied properties $137,954
    Commercial real estate & other non-farm, non-residential $225,803
    Multifamily residential real estate $163,479
    1-4 family residential loans $2,162,156
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $11,116
    To non-U.S. addressees $0
    Loans to individuals $14,023
    Credit card loans $0
    Related Plans $326
    Consumer Auto Loans $15
    Other loans to individuals $13,682
    All other loans & leases $100
    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 $561
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,744
    Non 1-4 family restructured loans & leases $2,211
    Total loans and leases (foreign) $0

    Institution for Savings in Newburyport and Its Vicinity had $2,718,280,000 of loans outstanding in 2018. $2,705,298,000 of loans were in real estate loans. $15,906,000 of loans were in development loans. $163,479,000 of loans were in multifamily mortgage loans. $2,162,156,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $15,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 261 $75,605 $289,674
    Nonfarm, nonresidential loans - <$100k 27 $1,008 $37,333
    Nonfarm, nonresidential loans - $100-250k 66 $7,920 $120,000
    Nonfarm, nonresidential loans - $250k-1MM 168 $66,677 $396,887
    Commercial & Industrial, US addressed loans - <$1MM 142 $9,160 $64,507
    Commercial & Industrial, US addressed loans - <$100k 100 $1,763 $17,630
    Commercial & Industrial, US addressed loans - $100-250k 21 $1,469 $69,952
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $5,928 $282,286