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, Worcester, Barnstable Town, Providence, and Manchester 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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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






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


    Originations

    966

    Origination Dollar Volume (All Markets)

    $433,170,000

    Employee count

    203

    Awards

    Institution for Savings in Newburyport and Its Vicinity 30 Year Conventional Loans silver
    Show all (1) 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) 904 $408,320,000 $451,681 $3,181 3.82%
    WORCESTER, MA-CT (FHA|USDA|VA) 15 $7,315,000 $487,667 $2,998 3.74%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 12 $5,400,000 $450,000 $2,917 3.79%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 13 $5,045,000 $388,077 $2,985 3.73%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 7 $1,795,000 $256,429 $2,643 3.89%
    Laconia, NH (FHA|USDA|VA) 2 $1,760,000 $880,000 $3,437 3.56%
    Outside of Metro Areas 6 $1,190,000 $198,333 $2,541 3.56%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $855,000 $285,000 $2,750 3.58%
    Concord, NH (FHA|USDA|VA) 1 $645,000 $645,000 $0 4.50%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $435,000 $435,000 $2,970 3.50%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $410,000 $205,000 $2,500 2.99%
    Institution For Savings In Newburyport And Its Vicinity's top markets include Boston, Worcester, Barnstable Town, Providence, and Manchester 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.

    CASCO
    Similarity Rank: 126
    First Ipswich Bank
    Similarity Rank: 139
    Maine Savings Federal Credit Union
    Similarity Rank: 161
    Piscataqua Savings Bank
    Similarity Rank: 170
    ATLANTIC REGIONAL FEDERAL CREDIT UNION
    Similarity Rank: 320
    CUMBERLAND COUNTY
    Similarity Rank: 320
    Saco Valley Credit Union
    Similarity Rank: 328
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 336
    INTEGRITY MORTGAGE LLC
    Similarity Rank: 350
    FIVE COUNTY
    Similarity Rank: 355

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 966 $433,170,000 $448,416 $3,162 3.81%

    For 2019, Institution For Savings In Newburyport And Its Vicinity's most frequently originated type of loan was Conventional, with 966 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 472 $235,880,000 $499,746 $3,596 3.86%
    Refi 445 $175,585,000 $394,573 $2,831 3.69%
    Other 25 $5,205,000 $208,200 $1,921 4.24%
    Home Improvement 23 $16,245,000 $706,304 $1,939 4.55%
    Cash Out Refi 1 $255,000 $255,000 $2,276 3.88%

    For 2019, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan purpose was Home Purchase, with 472 originations. The 2nd most popular reason was Refi, with 445 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 614 $277,500,000 $451,954 $3,329 3.90%
    15 Year 140 $46,810,000 $334,357 $2,642 3.48%
    20 Year 83 $34,165,000 $411,627 $2,782 3.82%
    10 Year 79 $21,605,000 $273,481 $2,270 3.27%
    Other 27 $44,785,000 $1,658,704 $3,239 4.73%
    30+ year 11 $6,525,000 $593,182 $11,822 3.81%
    5 Year 10 $620,000 $62,000 $355 4.50%
    1 Year 2 $1,160,000 $580,000 $0 5.88%

    For 2019, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan duration was 30 Year, with 614 originations. The 2nd most popular length was 15 Year, with 140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 818 $316,040,000 $386,357
    $1k-2k 51 $35,375,000 $693,627
    $5k+ 19 $12,345,000 $649,737
    $2k-3k 18 $7,020,000 $390,000
    $3k-4k 11 $4,285,000 $389,545
    $4k-5k 2 $770,000 $385,000

    Institution For Savings In Newburyport And Its Vicinity's average total fees were $3,329, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 818 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 751 $322,605,000 $429,567
    4-5% 134 $72,020,000 $537,463
    2.5-3% 64 $18,690,000 $292,031
    5-6% 12 $11,910,000 $992,500
    6-7% 3 $7,755,000 $2,585,000
    <2.5% 2 $190,000 $95,000

    During 2019, Institution For Savings In Newburyport And Its Vicinity's average interest rate for loans was 3.90%, while their most frequently originated rate bucket for loans was 3-4%, with 751 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 394 $114,530,000 $290,685 $2,808 3.77%
    $400k-600k 239 $116,875,000 $489,017 $3,459 3.79%
    $100k-200k 134 $19,950,000 $148,881 $2,204 3.68%
    $600k-1MM 128 $95,620,000 $747,031 $4,512 3.85%
    $1MM+ 47 $84,725,000 $1,802,660 $6,030 4.13%
    $100,000 or less 24 $1,470,000 $61,250 $498 4.61%

    2019 saw Institution For Savings In Newburyport And Its Vicinity place emphasis on $200k-400k loans with 394 originations, totaling $114,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 302 $130,010,000 $430,497 $3,283 3.76%
    $100k-150k 231 $75,805,000 $328,160 $2,789 3.80%
    $250k+ 201 $130,835,000 $650,920 $3,920 3.75%
    $75k-100k 112 $26,800,000 $239,286 $2,862 3.81%
    $50k-75k 69 $14,135,000 $204,855 $2,492 3.83%
    $50k or less 14 $1,750,000 $125,000 $1,947 3.83%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with incomes in the $150k-250k range, with 302 originations. The second most popular income band? $100k-150k, with 231 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 315 $122,625,000 $389,286 $2,909 3.75%
    30-36% 243 $101,775,000 $418,827 $3,241 3.78%
    <20% 110 $42,820,000 $389,273 $2,970 3.69%
    36% 44 $17,950,000 $407,955 $4,194 3.81%
    37% 34 $16,650,000 $489,706 $3,877 3.90%
    39% 33 $12,475,000 $378,030 $2,834 3.93%
    38% 30 $14,680,000 $489,333 $3,613 3.83%
    41% 28 $11,790,000 $421,071 $2,960 3.92%
    40% 25 $10,775,000 $431,000 $3,073 3.74%
    42% 20 $7,480,000 $374,000 $3,284 3.82%
    43% 19 $6,935,000 $365,000 $3,286 3.77%
    50-60% 10 $5,280,000 $528,000 $4,967 3.62%
    44% 7 $2,885,000 $412,143 $2,776 3.61%
    46% 7 $3,255,000 $465,000 $2,963 3.50%
    >60% 4 $1,350,000 $337,500 $3,071 3.93%
    47% 2 $530,000 $265,000 $2,642 3.99%
    45% 2 $930,000 $465,000 $3,108 3.74%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with DTI ratios of 20-30%, with 315 originations. The next most common DTI ratio? 30-36%, with 243 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 720 $283,290,000 $393,458 $3,063 3.78%
    Not provided 175 $73,355,000 $419,171 $3,371 3.80%
    Not applicable 29 $51,565,000 $1,778,103 $0 4.87%
    Asian 33 $21,065,000 $638,333 $4,098 3.71%
    Black 4 $1,780,000 $445,000 $2,926 3.90%
    Asian Indian 2 $1,350,000 $675,000 $3,144 3.50%
    American Indian 3 $765,000 $255,000 $4,335 3.58%

    Approval Rates

    Total approvals of all applications
    92.58%

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

    Pick Rate

    Approvals leading to origination
    75.47%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 966 $433,170,000 $448,416

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 21 $46,395,000 $2,209,286
    Single Family (1-4 Units):Site-Built 945 $386,775,000 $409,286

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 134 $35,250,000 $263,060 $2,496 3.62%
    40-60% 214 $81,170,000 $379,299 $2,861 3.75%
    60-80% 393 $210,415,000 $535,407 $3,519 3.83%
    80-100% 188 $100,420,000 $534,149 $3,628 3.85%
    Under 20% 37 $5,915,000 $159,865 $1,097 4.44%

    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 $70,919
    Institution for Savings in Newburyport and Its Vicinity 150 Main Street Amesbury, MA 1913 Full Service B&M $18,878
    Institution for Savings in Newburyport and Its Vicinity 161 South Main Street Middleton, MA 1949 Full Service B&M $335,876
    Institution for Savings in Newburyport and Its Vicinity 2-8 Depot Square Ipswich, MA 1938 Full Service B&M $315,270
    Institution for Savings in Newburyport and Its Vicinity 312 Haverhill Street Rowley, MA 1969 Full Service B&M $235,183
    Institution for Savings in Newburyport and Its Vicinity 37 King Street Rockport, MA 1966 Full Service B&M $144,549
    Institution for Savings in Newburyport and Its Vicinity 4 Colon Street Beverly, MA 1915 Full Service B&M $150,571
    Institution for Savings in Newburyport and Its Vicinity 4 Parker St. Gloucester, MA 1930 Full Service B&M $142,301
    Institution for Savings in Newburyport and Its Vicinity 5 Main Street Topsfield, MA 1983 Full Service B&M $161,939
    Institution for Savings in Newburyport and Its Vicinity 545 Bay Road Hamilton, MA 1936 Full Service B&M $47,466
    Institution for Savings in Newburyport and Its Vicinity 7 Bridge Road Salisbury, MA 1952 Full Service B&M $172,207
    Institution for Savings in Newburyport and Its Vicinity 7 Elm Street Boxford, MA 1921 Full Service B&M $40,854
    Institution for Savings in Newburyport and Its Vicinity 93 State Street Newburyport, MA 1950 Full Service B&M $523,467
    Institution for Savings in Newburyport and Its Vicinity Storey Avenue And Woodmen Way Newburyport, MA 1950 Full Service B&M $404,063

    For 2019, Institution For Savings In Newburyport And Its Vicinity had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $123,880
    Net interest income $66,823
    Total noninterest income $6,728
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $456
    Trading account gains and fees $0
    Additional Noninterest Income $6,272
    Pre-tax net operating income $21,178
    Securities gains (or losses, -) $60,714
    Income before extraordinary items $71,206
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $71,206
    Minority interest net income $0
    Net income $71,206
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $18,384

    Institution For Savings In Newburyport And Its Vicinity's gross interest income from loans was $123,880,000.
    Institution For Savings In Newburyport And Its Vicinity's net interest income from loans was $66,823,000.
    Institution For Savings In Newburyport And Its Vicinity's fee based income from loans was $456,000.
    Institution For Savings In Newburyport And Its Vicinity's net income from loans was $71,206,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $57,057
    Provision for credit losses $600
    Total noninterest expense $51,773
    Salaries and employee benefits $26,859
    Premises and equipment expense $5,690
    Additional noninterest expense $19,224
    Applicable income taxes $10,686
    Net charge-offs $136
    Cash dividends $0

    Institution For Savings In Newburyport And Its Vicinity's interest expense for loans was $57,057,000.
    Institution For Savings In Newburyport And Its Vicinity's payroll and benefits expense were $26,859,000.
    Institution For Savings In Newburyport And Its Vicinity's property, plant and equipment expenses $5,690,000.

    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 $2,833,419
    Deposits held in domestic offices $2,833,419
    Deposits by Individuals, partnerships, and corporations $2,767,352
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $66,067
    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 $340,803
    Demand deposits $144,736
    Nontransaction accounts $2,492,616
    Money market deposit accounts (MMDAs) $585,160
    Other savings deposits (excluding MMDAs) $245,958
    Total time deposits $1,661,500
    Total time and savings deposits $2,688,683
    Noninterest-bearing deposits $144,273
    Interest-bearing deposits $2,689,146
    Retail deposits $2,226,792
    IRAs and Keogh plan accounts $206,743
    Brokered deposits $35,792
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,717,267
    Cash & Balances due from depository institutions $143,425
    Interest-bearing balances $123,527
    Total securities $546,812
    Federal funds sold & reverse repurchase $5,666
    Net loans and leases $2,835,019
    Loan and leases loss allowance $12,722
    Trading account assets $0
    Bank premises and fixed assets $39,683
    Other real estate owned $0
    Goodwill and other intangibles $12,007
    All other assets $134,655

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,717,267
    Total Liabilities $3,309,360
    Total deposits $2,833,419
    Interest-bearing deposits $2,689,146
    Deposits held in domestic offices $2,833,419
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $7,165
    Trading liabilities $0
    Other borrowed funds $452,680
    Subordinated debt $0
    All other liabilities $16,096

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,835,019
    Loan and leases loss allowance $12,722
    Total loans and leases (domestic) $2,847,741
    All real estate loans $2,826,365
    Real estate loans in domestic offices $2,826,365
    Construction and development loans $18,370
    Residential 1-4 family construction $5,062
    Other construction, all land development and other land $13,308
    Loans secured by nonfarm nonresidential properties $342,986
    Nonfarm nonresidential secured by owner-occupied properties $116,967
    Commercial real estate & other non-farm, non-residential $226,019
    Multifamily residential real estate $173,646
    1-4 family residential loans $2,291,363
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $8,999
    To non-U.S. addressees $0
    Loans to individuals $12,377
    Credit card loans $0
    Related Plans $312
    Consumer Auto Loans $4
    Other loans to individuals $12,061
    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 $13
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,077
    Non 1-4 family restructured loans & leases $1,818
    Total loans and leases (foreign) $0

    Institution for Savings in Newburyport and Its Vicinity had $2,835,019,000 of loans outstanding in 2019. $2,826,365,000 of loans were in real estate loans. $18,370,000 of loans were in development loans. $173,646,000 of loans were in multifamily mortgage loans. $2,291,363,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,000 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 249 $72,307 $290,390
    Nonfarm, nonresidential loans - <$100k 26 $893 $34,346
    Nonfarm, nonresidential loans - $100-250k 62 $6,881 $110,984
    Nonfarm, nonresidential loans - $250k-1MM 161 $64,533 $400,826
    Commercial & Industrial, US addressed loans - <$1MM 124 $7,455 $60,121
    Commercial & Industrial, US addressed loans - <$100k 81 $1,342 $16,568
    Commercial & Industrial, US addressed loans - $100-250k 22 $1,469 $66,773
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $4,644 $221,143