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 small 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, Portland, and Vineyard Haven among others. We have data for 10 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 an above 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 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% 11/21/24
    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

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


    Originations

    1,638

    Origination Dollar Volume (All Markets)

    $1,155,590,000

    Employee count

    178

    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 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) 1,559 $1,087,665,000 $697,668 $4,750 2.89%
    WORCESTER, MA-CT (FHA|USDA|VA) 14 $25,280,000 $1,805,714 $7,277 3.25%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 25 $19,325,000 $773,000 $6,701 2.90%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 11 $7,015,000 $637,727 $6,938 2.81%
    Outside of Metro Areas 11 $6,565,000 $596,818 $8,972 2.76%
    Vineyard Haven, MA (FHA|USDA|VA) 6 $5,730,000 $955,000 $8,187 2.81%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $1,570,000 $392,500 $5,302 2.81%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,220,000 $305,000 $4,707 2.93%
    Laconia, NH (FHA|USDA|VA) 2 $690,000 $345,000 $5,669 2.81%
    Concord, NH (FHA|USDA|VA) 2 $530,000 $265,000 $4,713 2.81%
    Institution For Savings In Newburyport And Its Vicinity's top markets include Boston, Worcester, Barnstable Town, Portland, and Vineyard Haven 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.

    INFINITY Federal Credit Union
    Similarity Rank: 136
    CASCO
    Similarity Rank: 226
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 240
    Sharon & Crescent United Credit Union
    Similarity Rank: 335
    CUMBERLAND COUNTY
    Similarity Rank: 464
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Kennebec Savings Bank
    Similarity Rank: 535
    Saco & Biddeford Savings Institution
    Similarity Rank: 556
    Bath Savings Institution
    Similarity Rank: 648
    Maine Savings Federal Credit Union
    Similarity Rank: 650

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,638 $1,155,590,000 $705,488 $4,853 2.89%

    For 2021, Institution For Savings In Newburyport And Its Vicinity's most frequently originated type of loan was Conventional, with 1,638 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 821 $739,115,000 $900,262 $6,110 2.85%
    Refi 769 $400,775,000 $521,164 $3,602 2.92%
    Home Improvement 24 $5,660,000 $235,833 $2,546 3.34%
    Other 24 $10,040,000 $418,333 $4,051 3.17%

    For 2021, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan purpose was Home Purchase, with 821 originations. The 2nd most popular reason was Refi, with 769 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,283 $928,485,000 $723,683 $5,258 2.90%
    20 Year 164 $66,130,000 $403,232 $3,009 2.79%
    15 Year 100 $42,670,000 $426,700 $2,949 2.74%
    10 Year 70 $101,470,000 $1,449,571 $2,509 3.07%
    Other 10 $10,020,000 $1,002,000 $4,608 3.65%
    30+ year 9 $6,755,000 $750,556 $13,094 2.95%
    5 Year 2 $60,000 $30,000 $250 4.50%

    For 2021, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan duration was 30 Year, with 1,283 originations. The 2nd most popular length was 20 Year, with 164 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 970 $473,110,000 $487,742
    $1k-2k 333 $348,185,000 $1,045,601
    $5k+ 163 $147,215,000 $903,160
    $3k-4k 44 $36,230,000 $823,409
    $4k-5k 38 $25,820,000 $679,474
    $2k-3k 29 $18,025,000 $621,552

    Institution For Savings In Newburyport And Its Vicinity's average total fees were $5,258, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 970 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,489 $995,835,000 $668,794
    3-4% 90 $136,420,000 $1,515,778
    <2.5% 37 $11,775,000 $318,243
    4-5% 19 $11,435,000 $601,842
    5-6% 3 $125,000 $41,667

    During 2021, Institution For Savings In Newburyport And Its Vicinity's average interest rate for loans was 2.90%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,489 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 484 $379,010,000 $783,079 $5,906 2.87%
    $200k-400k 440 $130,160,000 $295,818 $2,889 2.90%
    $1MM+ 341 $507,775,000 $1,489,076 $7,778 2.87%
    $400k-600k 248 $120,230,000 $484,798 $3,663 2.92%
    $100k-200k 118 $18,140,000 $153,729 $2,386 2.84%
    $100,000 or less 7 $275,000 $39,286 $289 4.96%

    2021 saw Institution For Savings In Newburyport And Its Vicinity place emphasis on $600k-1MM loans with 484 originations, totaling $379,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 606 $596,750,000 $984,736 $6,246 2.84%
    $150k-250k 478 $294,380,000 $615,858 $4,893 2.87%
    $100k-150k 294 $108,270,000 $368,265 $3,455 2.91%
    $75k-100k 130 $37,000,000 $284,615 $2,937 2.93%
    $50k-75k 73 $16,555,000 $226,781 $2,663 2.99%
    $50k or less 13 $2,275,000 $175,000 $2,235 2.99%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with incomes in the $250k+ range, with 606 originations. The second most popular income band? $150k-250k, with 478 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 567 $365,305,000 $644,277 $4,600 2.88%
    30-36% 404 $282,530,000 $699,332 $5,354 2.87%
    <20% 209 $124,235,000 $594,426 $4,264 2.85%
    38% 84 $61,320,000 $730,000 $4,759 2.86%
    37% 55 $35,595,000 $647,182 $5,233 2.95%
    36% 54 $35,660,000 $660,370 $4,678 2.89%
    39% 53 $37,095,000 $699,906 $6,100 2.87%
    40% 49 $31,585,000 $644,592 $4,772 2.84%
    41% 49 $31,995,000 $652,959 $4,592 2.96%
    42% 35 $27,015,000 $771,857 $5,879 2.87%
    43% 15 $8,145,000 $543,000 $4,646 2.86%
    44% 11 $7,555,000 $686,818 $4,186 3.02%
    45% 4 $2,140,000 $535,000 $3,445 2.93%
    47% 3 $845,000 $281,667 $2,630 2.91%
    50-60% 3 $2,995,000 $998,333 $4,803 3.00%
    >60% 2 $1,340,000 $670,000 $3,862 2.75%
    46% 2 $1,270,000 $635,000 $5,677 2.93%
    49% 1 $225,000 $225,000 $2,658 2.99%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with DTI ratios of 20-30%, with 567 originations. The next most common DTI ratio? 30-36%, with 404 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,250 $780,510,000 $624,408 $4,530 2.88%
    Not provided 241 $163,085,000 $676,701 $5,593 2.87%
    Asian 90 $99,710,000 $1,107,889 $7,240 2.80%
    Not applicable 36 $97,770,000 $2,715,833 $0 3.71%
    Black 12 $7,280,000 $606,667 $5,219 2.86%
    American Indian 6 $4,010,000 $668,333 $4,034 2.89%
    Asian Indian 3 $3,225,000 $1,075,000 $6,377 2.92%

    Approval Rates

    Total approvals of all applications
    96.14%

    Institution For Savings In Newburyport And Its Vicinity has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    92.67%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,638 $1,155,590,000 $705,488

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,638 $1,155,590,000 $705,488

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 195 $57,545,000 $295,103 $2,851 2.87%
    40-60% 361 $184,495,000 $511,066 $3,607 2.90%
    60-80% 678 $572,910,000 $845,000 $5,436 2.93%
    80-100% 372 $335,280,000 $901,290 $6,291 2.81%
    Under 20% 32 $5,360,000 $167,500 $2,089 3.25%

    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 $72,545
    Institution For Savings In Newburyport and Its Vicinity 150 Main Street Amesbury, MA 1913 Full Service B&M $43,480
    Institution For Savings In Newburyport and Its Vicinity 161 South Main Street Middleton, MA 1949 Full Service B&M $335,899
    Institution For Savings In Newburyport and Its Vicinity 2-8 Depot Square Ipswich, MA 1938 Full Service B&M $354,652
    Institution For Savings In Newburyport and Its Vicinity 312 Haverhill Street Rowley, MA 1969 Full Service B&M $249,905
    Institution For Savings In Newburyport and Its Vicinity 37 King Street Rockport, MA 1966 Full Service B&M $180,083
    Institution For Savings In Newburyport and Its Vicinity 4 Colon Street Beverly, MA 1915 Full Service B&M $131,340
    Institution For Savings In Newburyport and Its Vicinity 4 Parker St. Gloucester, MA 1930 Full Service B&M $179,431
    Institution For Savings In Newburyport and Its Vicinity 5 Main Street Topsfield, MA 1983 Full Service B&M $163,477
    Institution For Savings In Newburyport and Its Vicinity 545 Bay Road Hamilton, MA 1936 Full Service B&M $59,077
    Institution For Savings In Newburyport and Its Vicinity 6 Paradise Rd Salem, MA 1970 Full Service B&M $220,597
    Institution For Savings In Newburyport and Its Vicinity 7 Bridge Road Salisbury, MA 1952 Full Service B&M $204,813
    Institution For Savings In Newburyport and Its Vicinity 7 Elm Street Boxford, MA 1921 Full Service B&M $38,954
    Institution For Savings In Newburyport and Its Vicinity 93 State St Newburyport, MA 1950 Full Service B&M $631,985
    Institution For Savings In Newburyport and Its Vicinity Storey Avenue And Woodmen Way Newburyport, MA 1950 Full Service B&M $438,807

    For 2021, Institution For Savings In Newburyport And Its Vicinity had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $116,439
    Net interest income $85,614
    Total noninterest income $5,324
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $341
    Trading account gains and fees $0
    Additional Noninterest Income $4,983
    Pre-tax net operating income $34,812
    Securities gains (or losses, -) $86,555
    Income before extraordinary items $101,871
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $101,871
    Minority interest net income $0
    Net income $101,871
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $29,164

    Institution For Savings In Newburyport And Its Vicinity's gross interest income from loans was $116,439,000.
    Institution For Savings In Newburyport And Its Vicinity's net interest income from loans was $85,614,000.
    Institution For Savings In Newburyport And Its Vicinity's fee based income from loans was $341,000.
    Institution For Savings In Newburyport And Its Vicinity's net income from loans was $101,871,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $30,825
    Provision for credit losses $0
    Total noninterest expense $56,126
    Salaries and employee benefits $30,099
    Premises and equipment expense $5,898
    Additional noninterest expense $20,129
    Applicable income taxes $19,496
    Net charge-offs $26
    Cash dividends $0

    Institution For Savings In Newburyport And Its Vicinity's interest expense for loans was $30,825,000.
    Institution For Savings In Newburyport And Its Vicinity's payroll and benefits expense were $30,099,000.
    Institution For Savings In Newburyport And Its Vicinity's property, plant and equipment expenses $5,898,000.

    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 $3,491,524
    Deposits held in domestic offices $3,491,524
    Deposits by Individuals, partnerships, and corporations $3,383,807
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $107,717
    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 $517,157
    Demand deposits $232,738
    Nontransaction accounts $2,974,367
    Money market deposit accounts (MMDAs) $707,876
    Other savings deposits (excluding MMDAs) $834,255
    Total time deposits $1,432,237
    Total time and savings deposits $3,258,786
    Noninterest-bearing deposits $231,148
    Interest-bearing deposits $3,260,376
    Retail deposits $2,745,897
    IRAs and Keogh plan accounts $202,681
    Brokered deposits $176,712
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $4,534,739
    Cash & Balances due from depository institutions $407,702
    Interest-bearing balances $396,144
    Total securities $681,649
    Federal funds sold & reverse repurchase $3,602
    Net loans and leases $3,221,041
    Loan and leases loss allowance $14,297
    Trading account assets $0
    Bank premises and fixed assets $40,288
    Other real estate owned $0
    Goodwill and other intangibles $10,905
    All other assets $169,552

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $4,534,739
    Total Liabilities $3,978,863
    Total deposits $3,491,524
    Interest-bearing deposits $3,260,376
    Deposits held in domestic offices $3,491,524
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $7,414
    Trading liabilities $0
    Other borrowed funds $442,815
    Subordinated debt $0
    All other liabilities $37,110

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $3,221,041
    Loan and leases loss allowance $14,297
    Total loans and leases (domestic) $3,235,338
    All real estate loans $3,220,270
    Real estate loans in domestic offices $3,220,270
    Construction and development loans $47,398
    Residential 1-4 family construction $29,427
    Other construction, all land development and other land $17,971
    Loans secured by nonfarm nonresidential properties $351,393
    Nonfarm nonresidential secured by owner-occupied properties $106,020
    Commercial real estate & other non-farm, non-residential $245,373
    Multifamily residential real estate $196,896
    1-4 family residential loans $2,624,583
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $8,045
    To non-U.S. addressees $0
    Loans to individuals $7,023
    Credit card loans $0
    Related Plans $165
    Consumer Auto Loans $0
    Other loans to individuals $6,858
    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 $1,942
    Non 1-4 family restructured loans & leases $1,813
    Total loans and leases (foreign) $0

    Institution for Savings in Newburyport and Its Vicinity had $3,221,041,000 of loans outstanding in 2021. $3,220,270,000 of loans were in real estate loans. $47,398,000 of loans were in development loans. $196,896,000 of loans were in multifamily mortgage loans. $2,624,583,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 211 $60,510 $286,777
    Nonfarm, nonresidential loans - <$100k 23 $750 $32,609
    Nonfarm, nonresidential loans - $100-250k 46 $4,564 $99,217
    Nonfarm, nonresidential loans - $250k-1MM 142 $55,196 $388,704
    Commercial & Industrial, US addressed loans - <$1MM 123 $6,570 $53,415
    Commercial & Industrial, US addressed loans - <$100k 81 $1,168 $14,420
    Commercial & Industrial, US addressed loans - $100-250k 20 $1,294 $64,700
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $4,108 $186,727