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

Edgartown, MA

LEI: 54930021FWO6J6IYPZ85

Tax ID: 04-2188463

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Mortgage Data

Review & Overview

Martha's Vineyard Savings Bank is a smaller bank specializing in Home Purchase loans. Martha's Vineyard Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Vineyard Haven, Barnstable Town, Lebanon, and Boston among others. We have data for 4 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

100

Origination Dollar Volume (All Markets)

$76,010,000

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) 73 $62,525,000 $856,507 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 24 $11,830,000 $492,917 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 1 $895,000 $895,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $760,000 $380,000 $0 0.00%
Martha's Vineyard Savings Bank's top markets include Vineyard Haven, Barnstable Town, Lebanon, and Boston among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Vermont (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.

    Cape Cod Co-operative Bank
    Similarity Rank: 60
    Main Street Bank
    Similarity Rank: 78
    BAYCOAST MORTGAGE COMPANY, LLC
    Similarity Rank: 216
    SALEM FIVE MORTGAGE COMPANY, LLC
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    Fall River Five Cents Savings Bank
    Similarity Rank: 322
    Rockland Trust Company
    Similarity Rank: 323
    Easthampton Savings Bank
    Similarity Rank: 594
    WILLIAM RAVEIS MORTGAGE, LLC
    Similarity Rank: 900

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $76,010,000 $760,100 $0 0.00%

    For 2023, Martha's Vineyard Savings Bank's most frequently originated type of loan was Conventional, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 74 $65,860,000 $890,000 $0 0.00%
    Refi 12 $4,690,000 $390,833 $0 0.00%
    Home Improvement 7 $995,000 $142,143 $0 0.00%
    Other 7 $4,465,000 $637,857 $0 0.00%

    For 2023, Martha's Vineyard Savings Bank's most frequently cited loan purpose was Home Purchase, with 74 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 100 $76,010,000 $760,100 $0 0.00%

    For 2023, Martha's Vineyard Savings Bank's most frequently cited loan duration was Other, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 28 $20,670,000 $738,214 $0 0.00%
    $200k-400k 25 $7,035,000 $281,400 $0 0.00%
    $1MM+ 22 $39,880,000 $1,812,727 $0 0.00%
    $400k-600k 14 $7,080,000 $505,714 $0 0.00%
    $100k-200k 8 $1,140,000 $142,500 $0 0.00%
    $100,000 or less 3 $205,000 $68,333 $0 0.00%

    2023 saw Martha's Vineyard Savings Bank place emphasis on $600k-1MM loans with 28 originations, totaling $20,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 43 $44,645,000 $1,038,256 $0 0.00%
    $150k-250k 16 $7,240,000 $452,500 $0 0.00%
    $100k-150k 12 $4,880,000 $406,667 $0 0.00%
    $75k-100k 8 $1,950,000 $243,750 $0 0.00%
    $50k or less 2 $2,660,000 $1,330,000 $0 0.00%
    $50k-75k 1 $215,000 $215,000 $0 0.00%

    Martha's Vineyard Savings Bank lent most frequently to those with incomes in the $250k+ range, with 43 originations. The second most popular income band? $150k-250k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 100 $76,010,000 $760,100 $0 0.00%

    Martha's Vineyard Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 100 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 61 $48,325,000 $792,213 $0 0.00%
    Not provided 17 $10,535,000 $619,706 $0 0.00%
    Not applicable 13 $10,155,000 $781,154 $0 0.00%
    Black 7 $4,695,000 $670,714 $0 0.00%
    Asian 2 $2,300,000 $1,150,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.06%

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

    Pick Rate

    Approvals leading to origination
    84.00%

    Martha's Vineyard Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 100 $76,010,000 $760,100

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    100 $76,010,000 $760,100