Martha's Vineyard Savings Bank Mortgage Rates, Fees & Info

Edgartown, MA

LEI: 54930021FWO6J6IYPZ85

Tax ID: 04-2188463

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

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Mortgage Data

Review & Overview

Martha's Vineyard Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Martha's Vineyard Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Vineyard Haven, Barnstable Town, Boston, Denver, and Providence among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Martha's Vineyard Savings Bank 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.

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Originations

278

Origination Dollar Volume (All Markets)

$222,610,000

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
Vineyard Haven, MA (FHA|USDA|VA) 187 $173,145,000 $925,909 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 78 $39,370,000 $504,744 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 10 $6,600,000 $660,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $2,085,000 $2,085,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $765,000 $765,000 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
Martha's Vineyard Savings Bank's top markets include Vineyard Haven, Barnstable Town, Boston, Denver, and Providence among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Martha's Vineyard Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Middlesex Savings Bank
    Similarity Rank: 145
    Bridgewater Savings Bank
    Similarity Rank: 198
    Northern Bank & Trust Company
    Similarity Rank: 252
    ROCKLAND
    Similarity Rank: 282
    The Bank of Canton
    Similarity Rank: 306
    Cape Cod Co-operative Bank
    Similarity Rank: 616
    Dedham Institution for Savings
    Similarity Rank: 624
    Milford Federal Bank
    Similarity Rank: 644
    CONWAY FINANCIAL SERVICES, LLC
    Similarity Rank: 707
    METRO
    Similarity Rank: 850

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 278 $222,610,000 $800,755 $0 0.00%

    For 2022, Martha's Vineyard Savings Bank's most frequently originated type of loan was Conventional, with 278 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 128 $130,090,000 $1,016,328 $0 0.00%
    Refi 110 $68,470,000 $622,455 $0 0.00%
    Home Improvement 23 $11,805,000 $513,261 $0 0.00%
    Other 17 $12,245,000 $720,294 $0 0.00%

    For 2022, Martha's Vineyard Savings Bank's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Refi, with 110 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 278 $222,610,000 $800,755 $0 0.00%

    For 2022, Martha's Vineyard Savings Bank's most frequently cited loan duration was Other, with 278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 72 $133,380,000 $1,852,500 $0 0.00%
    $200k-400k 58 $17,090,000 $294,655 $0 0.00%
    $600k-1MM 56 $41,170,000 $735,179 $0 0.00%
    $400k-600k 55 $26,595,000 $483,545 $0 0.00%
    $100k-200k 23 $3,515,000 $152,826 $0 0.00%
    $100,000 or less 14 $860,000 $61,429 $0 0.00%

    2022 saw Martha's Vineyard Savings Bank place emphasis on $1MM+ loans with 72 originations, totaling $133,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 104 $141,610,000 $1,361,635 $0 0.00%
    $100k-150k 51 $20,475,000 $401,471 $0 0.00%
    $150k-250k 50 $27,580,000 $551,600 $0 0.00%
    $75k-100k 24 $7,080,000 $295,000 $0 0.00%
    $50k-75k 14 $2,760,000 $197,143 $0 0.00%
    $50k or less 4 $600,000 $150,000 $0 0.00%

    Martha's Vineyard Savings Bank lent most frequently to those with incomes in the $250k+ range, with 104 originations. The second most popular income band? $100k-150k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 278 $222,610,000 $800,755 $0 0.00%

    Martha's Vineyard Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 278 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 199 $150,405,000 $755,804 $0 0.00%
    Not provided 41 $40,355,000 $984,268 $0 0.00%
    Not applicable 24 $19,080,000 $795,000 $0 0.00%
    Black 12 $11,320,000 $943,333 $0 0.00%
    Asian Indian 1 $1,145,000 $1,145,000 $0 0.00%
    Other Asian 1 $305,000 $305,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.55%

    Martha's Vineyard Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.13%

    Martha's Vineyard Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 278 $222,610,000 $800,755

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    278 $222,610,000 $800,755

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Mortgage Research Center, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Mortgage Research Center, LLC VA mortgage Trouble during payment process 1 50.0%