Mountainone Bank Mortgage Rates, Fees & Info

North Adams, MA

LEI: 5493002578XYSRFY2C51

Tax ID: 04-3413060

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
  • Complaints
  • 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

    Mountainone Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Mountainone Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Pittsfield, Barnstable Town, Providence, and Concord among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mountainone Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Mountainone Bank 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
    30 Year Conventional Purchase 6.13% 11/22/24
    30 Year Conventional Refi 6.17% 11/22/24
    30 Year Cash-out Refi 6.34% 11/22/24
    30 Year FHA Purchase 7.24% 11/22/24
    30 Year USDA Purchase 6.27% 11/22/24
    15 Year Conventional Purchase 6.12% 11/22/24
    15 Year Conventional Refi 5.96% 11/22/24
    15 Year Cash-out Refi 5.96% 11/22/24
    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.

    Mountainone Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Mountainone Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

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


    Originations

    291

    Origination Dollar Volume (All Markets)

    $160,525,000

    Employee count

    169

    Awards

    MountainOne Bank 30 Year Conventional Loans silver MountainOne Bank 30 Year Conventional Loans bronze MountainOne Bank FHA 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) 178 $136,330,000 $765,899 $3,648 4.92%
    PITTSFIELD, MA (FHA|USDA|VA) 75 $13,275,000 $177,000 $2,353 4.54%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 7 $2,235,000 $319,286 $4,465 4.68%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $1,760,000 $440,000 $1,925 5.56%
    Concord, NH (FHA|USDA|VA) 3 $1,315,000 $438,333 $0 6.58%
    Bennington, VT (FHA|USDA|VA) 10 $1,310,000 $131,000 $2,535 4.54%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $755,000 $755,000 $4,093 4.50%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $620,000 $310,000 $3,325 4.63%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $490,000 $245,000 $3,049 4.31%
    Outside of Metro Areas 2 $480,000 $240,000 $2,627 3.88%
    Cortland, NY (FHA|USDA|VA) 1 $455,000 $455,000 $6,509 4.50%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $435,000 $435,000 $3,795 4.50%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $410,000 $205,000 $2,359 4.25%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $350,000 $175,000 $2,332 4.06%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $305,000 $305,000 $4,111 3.75%
    Mountainone Bank's top markets include Boston, Pittsfield, Barnstable Town, Providence, and Concord among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • New York (FHA|USDA|VA)

    • Similar Lenders

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

    Adams Community Bank
    Similarity Rank: 36
    GREYLOCK
    Similarity Rank: 42
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 269 $153,565,000 $570,874 $2,800 4.84%
    FHA 12 $4,010,000 $334,167 $9,115 4.32%
    VA 6 $2,210,000 $368,333 $4,001 4.23%
    USDA 4 $740,000 $185,000 $5,024 4.34%

    For 2018, Mountainone Bank's most frequently originated type of loan was Conventional, with 269 originations. Their 2nd most popular type was FHA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 180 $105,920,000 $588,444 $3,901 4.89%
    Cash Out Refi 63 $35,215,000 $558,968 $2,665 4.57%
    Refi 24 $15,180,000 $632,500 $2,339 4.41%
    Home Improvement 13 $1,555,000 $119,615 $242 5.73%
    Other 11 $2,655,000 $241,364 $1,362 4.90%

    For 2018, Mountainone Bank's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 175 $55,765,000 $318,657 $3,657 4.53%
    Other 41 $66,745,000 $1,627,927 $476 5.79%
    15 Year 25 $5,635,000 $225,400 $2,237 4.22%
    10 Year 13 $11,605,000 $892,692 $608 5.29%
    1 Year 13 $9,045,000 $695,769 $0 6.33%
    20 Year 11 $2,185,000 $198,636 $2,178 4.63%
    30+ year 5 $3,665,000 $733,000 $6,080 4.90%
    5 Year 5 $205,000 $41,000 $270 4.55%
    3 Year 3 $5,675,000 $1,891,667 $0 6.42%

    For 2018, Mountainone Bank's most frequently cited loan duration was 30 Year, with 175 originations. The 2nd most popular length was Other, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 223 $65,955,000 $295,762
    $2k-3k 2 $750,000 $375,000
    $3k-4k 2 $950,000 $475,000
    $1k-2k 1 $425,000 $425,000

    Mountainone Bank's average total fees were $3,657, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 223 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 155 $47,985,000 $309,581
    5-6% 52 $32,420,000 $623,462
    3-4% 42 $19,890,000 $473,571
    6-7% 28 $48,450,000 $1,730,357
    <2.5% 4 $370,000 $92,500
    7-8% 3 $10,705,000 $3,568,333

    During 2018, Mountainone Bank's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 155 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 115 $34,055,000 $296,130 $3,493 4.61%
    $100k-200k 45 $6,665,000 $148,111 $2,672 4.29%
    $100,000 or less 41 $1,885,000 $45,976 $1,110 4.76%
    $400k-600k 41 $19,255,000 $469,634 $4,869 5.00%
    $600k-1MM 26 $20,330,000 $781,923 $4,168 5.41%
    $1MM+ 23 $78,335,000 $3,405,870 $5,659 5.82%

    2018 saw Mountainone Bank place emphasis on $200k-400k loans with 115 originations, totaling $34,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 64 $16,890,000 $263,906 $3,222 4.40%
    $150k-250k 44 $14,340,000 $325,909 $3,393 4.49%
    $75k-100k 42 $10,240,000 $243,810 $3,008 4.46%
    $50k-75k 37 $6,735,000 $182,027 $2,946 4.54%
    $250k+ 34 $19,090,000 $561,471 $3,763 4.69%
    $50k or less 20 $2,220,000 $111,000 $2,478 4.64%

    Mountainone Bank lent most frequently to those with incomes in the $100k-150k range, with 64 originations. The second most popular income band? $150k-250k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 57 $14,835,000 $260,263 $2,984 4.55%
    30-36% 49 $15,505,000 $316,429 $3,242 4.48%
    <20% 23 $5,965,000 $259,348 $2,605 4.31%
    44% 13 $4,415,000 $339,615 $4,582 4.58%
    41% 12 $2,460,000 $205,000 $2,354 4.48%
    40% 11 $3,665,000 $333,182 $2,941 4.31%
    42% 10 $1,820,000 $182,000 $2,029 4.68%
    38% 9 $3,045,000 $338,333 $3,145 4.53%
    37% 8 $1,960,000 $245,000 $4,035 4.58%
    43% 8 $1,920,000 $240,000 $2,135 4.55%
    47% 6 $1,680,000 $280,000 $3,134 4.71%
    46% 6 $1,840,000 $306,667 $4,692 4.31%
    36% 5 $1,495,000 $299,000 $4,867 4.45%
    39% 5 $1,845,000 $369,000 $3,000 4.53%
    45% 4 $1,380,000 $345,000 $3,607 4.47%
    48% 3 $1,015,000 $338,333 $4,154 4.83%
    50-60% 3 $1,145,000 $381,667 $5,563 4.25%
    49% 2 $440,000 $220,000 $5,276 4.50%

    Mountainone Bank lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 50 $91,010,000 $1,820,200 $0 6.19%
    White 222 $65,380,000 $294,505 $3,259 4.48%
    Not provided 12 $2,850,000 $237,500 $2,431 5.07%
    Asian 5 $695,000 $139,000 $1,642 4.59%
    Black 2 $590,000 $295,000 $3,355 4.50%

    Approval Rates

    Total approvals of all applications
    86.79%

    Mountainone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.35%

    Mountainone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 291 $160,525,000 $551,632

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $57,460,000 $4,788,333
    Single Family (1-4 Units):Site-Built 279 $103,065,000 $369,409

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $4,650,000 $211,364 $2,191 4.31%
    40-60% 53 $29,855,000 $563,302 $2,902 4.72%
    60-80% 94 $85,490,000 $909,468 $3,389 5.09%
    80-100% 84 $27,440,000 $326,667 $4,078 4.54%
    Over 100% 8 $10,700,000 $1,337,500 $11,380 5.75%
    Under 20% 27 $1,015,000 $37,593 $451 4.94%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Trouble during payment process 1 50.0%
    MOUNTAIN WEST FINANCIAL, INC. FHA mortgage Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    MountainOne Bank 111 Silver Lake Boulevard Pittsfield, MA 1201 Full Service B&M $21,054
    MountainOne Bank 279 Union Street Rockland, MA 2370 Full Service B&M $109,062
    MountainOne Bank 54 Front Street Scituate, MA 2066 Full Service B&M $51,433
    MountainOne Bank 77 Granite Street Quincy, MA 2169 Full Service B&M $91,732
    MountainOne Bank 795 Main Street Williamstown, MA 1267 Full Service B&M $149,803
    MountainOne Bank 93 Main Street North Adams, MA 1247 Full Service Cyber Office $1,246
    MountainOne Bank 93 Main Street North Adams, MA 1247 Full Service B&M $232,502

    For 2018, Mountainone Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $37,961
    Net interest income $29,266
    Total noninterest income $12,961
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $933
    Trading account gains and fees $0
    Additional Noninterest Income $12,028
    Pre-tax net operating income $9,479
    Securities gains (or losses, -) $-9
    Income before extraordinary items $7,043
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,043
    Minority interest net income $0
    Net income $7,043
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,050

    Mountainone Bank's gross interest income from loans was $37,961,000.
    Mountainone Bank's net interest income from loans was $29,266,000.
    Mountainone Bank's fee based income from loans was $933,000.
    Mountainone Bank's net income from loans was $7,043,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,695
    Provision for credit losses $1,600
    Total noninterest expense $31,148
    Salaries and employee benefits $19,055
    Premises and equipment expense $3,567
    Additional noninterest expense $8,526
    Applicable income taxes $2,427
    Net charge-offs $835
    Cash dividends $0

    Mountainone Bank's interest expense for loans was $8,695,000.
    Mountainone Bank's payroll and benefits expense were $19,055,000.
    Mountainone Bank's property, plant and equipment expenses $3,567,000.

    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 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    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 $668,853
    Deposits held in domestic offices $668,853
    Deposits by Individuals, partnerships, and corporations $634,152
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $34,701
    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 $33,456
    Demand deposits $25,714
    Nontransaction accounts $635,397
    Money market deposit accounts (MMDAs) $238,189
    Other savings deposits (excluding MMDAs) $170,408
    Total time deposits $226,799
    Total time and savings deposits $643,139
    Noninterest-bearing deposits $118,245
    Interest-bearing deposits $550,608
    Retail deposits $459,959
    IRAs and Keogh plan accounts $18,272
    Brokered deposits $79,050
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $889,548
    Cash & Balances due from depository institutions $20,323
    Interest-bearing balances $6,404
    Total securities $97,414
    Federal funds sold & reverse repurchase $6
    Net loans and leases $703,958
    Loan and leases loss allowance $9,889
    Trading account assets $0
    Bank premises and fixed assets $14,381
    Other real estate owned $155
    Goodwill and other intangibles $3,363
    All other assets $49,948

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $889,548
    Total Liabilities $786,333
    Total deposits $668,853
    Interest-bearing deposits $550,608
    Deposits held in domestic offices $668,853
    % insured (estimated) $61
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $104,120
    Subordinated debt $0
    All other liabilities $13,360

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $703,958
    Loan and leases loss allowance $9,889
    Total loans and leases (domestic) $713,847
    All real estate loans $618,706
    Real estate loans in domestic offices $618,706
    Construction and development loans $120,163
    Residential 1-4 family construction $28,250
    Other construction, all land development and other land $91,913
    Loans secured by nonfarm nonresidential properties $173,651
    Nonfarm nonresidential secured by owner-occupied properties $74,636
    Commercial real estate & other non-farm, non-residential $99,015
    Multifamily residential real estate $30,945
    1-4 family residential loans $293,947
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $86,828
    To non-U.S. addressees $0
    Loans to individuals $8,313
    Credit card loans $0
    Related Plans $100
    Consumer Auto Loans $0
    Other loans to individuals $8,213
    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 $10,389
    Non 1-4 family restructured loans & leases $7,825
    Total loans and leases (foreign) $0

    MountainOne Bank had $703,958,000 of loans outstanding in 2018. $618,706,000 of loans were in real estate loans. $120,163,000 of loans were in development loans. $30,945,000 of loans were in multifamily mortgage loans. $293,947,000 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 177 $46,419 $262,254
    Nonfarm, nonresidential loans - <$100k 18 $736 $40,889
    Nonfarm, nonresidential loans - $100-250k 61 $8,063 $132,180
    Nonfarm, nonresidential loans - $250k-1MM 98 $37,620 $383,878
    Commercial & Industrial, US addressed loans - <$1MM 467 $42,742 $91,525
    Commercial & Industrial, US addressed loans - <$100k 244 $5,718 $23,434
    Commercial & Industrial, US addressed loans - $100-250k 133 $8,279 $62,248
    Commercial & Industrial, US addressed loans - $250k-1MM 90 $28,745 $319,389