Institution For Savings In Newburyport And Its Vicinity Mortgage Rates, Fees & Info
Newburyport, MALEI: 5493001QVY14BXG42N39
Tax ID: 04-1471660
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Mortgage Data
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, Portland, Providence, and Worcester 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 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 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% | 4/28/24 |
| 30 Year Conventional Purchase | 5.58% | 4/28/24 |
| 30 Year Conventional Refi | 5.76% | 4/28/24 |
| 15 Year Conventional Purchase | 4.81% | 4/28/24 |
| 15 Year Conventional Refi | 5.26% | 4/28/24 |
| 15 Year Cash-out Refi | 5.26% | 4/28/24 |
| 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
1,522Origination Dollar Volume (All Markets)
$815,060,000Awards
Institution for Savings in Newburyport and Its Vicinity - 2022
Institution for Savings in Newburyport and Its Vicinity is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 1,424 | $758,400,000 | $532,584 | $5,421 | 3.92% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 24 | $18,190,000 | $757,917 | $6,227 | 3.63% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 30 | $12,730,000 | $424,333 | $7,982 | 3.79% |
| Outside of Metro Areas | 7 | $7,215,000 | $1,030,714 | $8,497 | 3.73% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 11 | $5,645,000 | $513,182 | $8,044 | 4.26% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 10 | $5,620,000 | $562,000 | $5,793 | 4.12% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 10 | $4,020,000 | $402,000 | $5,588 | 4.29% |
| Lebanon, NH-VT (FHA|USDA|VA) | 2 | $1,570,000 | $785,000 | $9,543 | 3.75% |
| Laconia, NH (FHA|USDA|VA) | 3 | $1,515,000 | $505,000 | $4,719 | 3.79% |
| Concord, NH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,896 | 2.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,231 | $775,995,000 | $630,378 | $5,546 | 3.85% |
| HELOC | 291 | $39,065,000 | $134,244 | n/a | 4.17% |
For 2022, Institution For Savings In Newburyport And Its Vicinity's most frequently originated type of loan was Conventional, with 1,231 originations. Their 2nd most popular type was HELOC, with 291 originations.
Loan Reason
For 2022, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan purpose was Home Purchase, with 822 originations. The 2nd most popular reason was Refi, with 409 originations.
Loan Duration/Length
For 2022, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan duration was 30 Year, with 957 originations. The 2nd most popular length was 20 Year, with 384 originations.
Origination Fees/Closing Costs
Institution For Savings In Newburyport And Its Vicinity's average total fees were $6,055, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 702 originations.
Interest Rates
During 2022, Institution For Savings In Newburyport And Its Vicinity's average interest rate for loans was 3.98%, while their most frequently originated rate bucket for loans was 3-4%, with 494 originations.
Loan Sizing
2022 saw Institution For Savings In Newburyport And Its Vicinity place emphasis on $400k-600k loans with 384 originations, totaling $187,950,000 in origination value.
Applicant Income
Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with incomes in the $250k+ range, with 466 originations. The second most popular income band? $150k-250k, with 456 originations.
Applicant Debt to Income Ratio
Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with DTI ratios of 20-30%, with 466 originations. The next most common DTI ratio? 30-36%, with 368 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.84%
Institution For Savings In Newburyport And Its Vicinity has an average approval rate.
Pick Rate
Approvals leading to origination86.01%
Institution For Savings In Newburyport And Its Vicinity has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,522 | $815,060,000 | $535,519 |