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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Pittsfield, Providence, Bennington, and Barnstable Town among others. We have data for 9 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.13% 11/21/24
    30 Year Conventional Refi 6.17% 11/21/24
    30 Year Cash-out Refi 6.34% 11/21/24
    30 Year FHA Purchase 7.24% 11/21/24
    30 Year USDA Purchase 6.27% 11/21/24
    15 Year Conventional Purchase 6.12% 11/21/24
    15 Year Conventional Refi 5.96% 11/21/24
    15 Year Cash-out Refi 5.96% 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.

    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

    226

    Origination Dollar Volume (All Markets)

    $87,570,000

    Employee count

    162

    Awards

    MountainOne Bank 30 Year Conventional Loans bronze
    Show all (1) 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) 125 $60,465,000 $483,720 $4,208 4.54%
    PITTSFIELD, MA (FHA|USDA|VA) 74 $11,570,000 $156,351 $2,341 3.86%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 11 $11,055,000 $1,005,000 $4,427 4.62%
    Bennington, VT (FHA|USDA|VA) 9 $1,445,000 $160,556 $2,151 4.20%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $1,310,000 $655,000 $7,566 4.63%
    Outside of Metro Areas 2 $880,000 $440,000 $3,821 3.56%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $415,000 $415,000 $2,994 4.38%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $395,000 $395,000 $2,917 3.75%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $35,000 $35,000 $310 5.25%
    Mountainone Bank's top markets include Boston, Pittsfield, Providence, Bennington, and Barnstable Town among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Vermont (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 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: 70
    Piscataqua Savings Bank
    Similarity Rank: 118
    GREYLOCK
    Similarity Rank: 128
    First Ipswich Bank
    Similarity Rank: 139
    Middlesex Savings Bank
    Similarity Rank: 310
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 417
    QUINCY CREDIT UNION
    Similarity Rank: 435
    Members Plus Credit Union
    Similarity Rank: 505
    Sharon & Crescent United Credit Union
    Similarity Rank: 525
    Bristol County Savings Bank
    Similarity Rank: 544

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 206 $80,020,000 $388,447 $2,849 4.31%
    FHA 13 $5,095,000 $391,923 $10,302 4.43%
    VA 5 $2,125,000 $425,000 $6,590 3.52%
    USDA 2 $330,000 $165,000 $4,243 3.81%

    For 2019, Mountainone Bank's most frequently originated type of loan was Conventional, with 206 originations. Their 2nd most popular type was FHA, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 109 $44,305,000 $406,468 $4,276 4.37%
    Cash Out Refi 62 $26,080,000 $420,645 $3,294 4.24%
    Refi 28 $12,760,000 $455,714 $3,087 3.87%
    Home Improvement 17 $2,405,000 $141,471 $884 4.60%
    Other 10 $2,020,000 $202,000 $1,834 4.61%

    For 2019, Mountainone Bank's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Cash Out Refi, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 147 $48,785,000 $331,871 $3,953 4.14%
    Other 29 $23,055,000 $795,000 $673 4.21%
    15 Year 15 $2,495,000 $166,333 $1,914 4.18%
    10 Year 14 $4,240,000 $302,857 $311 5.04%
    20 Year 7 $715,000 $102,143 $1,177 4.03%
    30+ year 5 $4,175,000 $835,000 $6,907 4.68%
    1 Year 5 $3,195,000 $639,000 $0 6.70%
    5 Year 3 $345,000 $115,000 $285 5.17%
    3 Year 1 $565,000 $565,000 $0 6.25%

    For 2019, Mountainone Bank's most frequently cited loan duration was 30 Year, with 147 originations. The 2nd most popular length was Other, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 184 $55,230,000 $300,163
    $1k-2k 3 $1,295,000 $431,667
    $2k-3k 1 $405,000 $405,000
    $5k+ 1 $405,000 $405,000

    Mountainone Bank's average total fees were $3,953, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 184 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 86 $35,160,000 $408,837
    3-4% 84 $27,810,000 $331,071
    5-6% 25 $11,215,000 $448,600
    <2.5% 14 $1,020,000 $72,857
    6-7% 12 $9,170,000 $764,167
    7-8% 4 $3,090,000 $772,500
    2.5-3% 1 $105,000 $105,000

    During 2019, Mountainone Bank's average interest rate for loans was 4.14%, while their most frequently originated rate bucket for loans was 4-5%, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 77 $22,235,000 $288,766 $3,642 4.37%
    $100k-200k 49 $7,105,000 $145,000 $2,607 3.70%
    $400k-600k 44 $21,080,000 $479,091 $5,110 4.43%
    $100,000 or less 28 $1,230,000 $43,929 $815 4.16%
    $600k-1MM 16 $11,540,000 $721,250 $5,195 4.63%
    $1MM+ 12 $24,380,000 $2,031,667 $7,022 5.66%

    2019 saw Mountainone Bank place emphasis on $200k-400k loans with 77 originations, totaling $22,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 55 $13,915,000 $253,000 $3,144 4.04%
    $150k-250k 48 $16,040,000 $334,167 $4,032 3.96%
    $75k-100k 32 $9,030,000 $282,188 $3,988 3.96%
    $50k-75k 29 $5,355,000 $184,655 $3,014 4.15%
    $250k+ 24 $12,840,000 $535,000 $3,887 4.05%
    $50k or less 11 $1,215,000 $110,455 $1,251 4.51%

    Mountainone Bank lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $150k-250k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 51 $12,255,000 $240,294 $2,508 4.08%
    <20% 38 $8,690,000 $228,684 $2,776 3.62%
    30-36% 25 $10,125,000 $405,000 $4,200 4.37%
    40% 11 $3,105,000 $282,273 $2,894 4.31%
    37% 8 $3,350,000 $418,750 $3,464 3.86%
    38% 8 $2,560,000 $320,000 $2,957 3.66%
    39% 8 $2,790,000 $348,750 $5,955 4.19%
    41% 7 $1,185,000 $169,286 $3,071 4.25%
    44% 6 $1,800,000 $300,000 $2,774 4.22%
    50-60% 5 $1,915,000 $383,000 $8,003 4.32%
    42% 5 $1,785,000 $357,000 $3,373 3.92%
    43% 5 $935,000 $187,000 $4,476 4.78%
    45% 5 $945,000 $189,000 $3,753 3.83%
    48% 4 $1,670,000 $417,500 $4,387 3.78%
    49% 3 $1,515,000 $505,000 $9,040 4.17%
    36% 3 $1,105,000 $368,333 $3,873 4.29%
    46% 2 $550,000 $275,000 $3,389 3.81%
    47% 2 $1,020,000 $510,000 $2,998 4.06%

    Mountainone Bank lent most frequently to those with DTI ratios of 20-30%, with 51 originations. The next most common DTI ratio? <20%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 183 $54,345,000 $296,967 $3,524 4.04%
    Not applicable 27 $29,175,000 $1,080,556 $4,881 6.13%
    Not provided 12 $2,670,000 $222,500 $2,654 4.08%
    Black 3 $1,165,000 $388,333 $3,016 4.25%
    Asian 1 $215,000 $215,000 $3,086 4.38%

    Approval Rates

    Total approvals of all applications
    88.99%

    Mountainone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.97%

    Mountainone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 226 $87,570,000 $387,478

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $18,170,000 $2,271,250
    Single Family (1-4 Units):Site-Built 218 $69,400,000 $318,349

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $5,360,000 $167,500 $1,871 3.99%
    40-60% 37 $20,995,000 $567,432 $2,997 4.30%
    60-80% 84 $36,500,000 $434,524 $3,449 4.49%
    80-100% 49 $18,535,000 $378,265 $5,261 4.20%
    Over 100% 5 $4,435,000 $887,000 $14,340 5.23%
    Under 20% 19 $1,745,000 $91,842 $362 3.98%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    MountainOne Bank 111 Silver Lake Boulevard Pittsfield, MA 1201 Full Service B&M $23,963
    MountainOne Bank 279 Union Street Rockland, MA 2370 Full Service B&M $116,327
    MountainOne Bank 54 Front Street Scituate, MA 2066 Full Service B&M $53,242
    MountainOne Bank 77 Granite Street Quincy, MA 2169 Full Service B&M $91,630
    MountainOne Bank 795 Main Street Williamstown, MA 1267 Full Service B&M $142,580
    MountainOne Bank 93 Main Street North Adams, MA 1247 Full Service Cyber Office $978
    MountainOne Bank 93 Main Street North Adams, MA 1247 Full Service B&M $224,110

    For 2019, Mountainone Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $40,215
    Net interest income $29,689
    Total noninterest income $13,029
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $866
    Trading account gains and fees $0
    Additional Noninterest Income $12,163
    Pre-tax net operating income $10,711
    Securities gains (or losses, -) $40
    Income before extraordinary items $7,963
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,963
    Minority interest net income $0
    Net income $7,963
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,931

    Mountainone Bank's gross interest income from loans was $40,215,000.
    Mountainone Bank's net interest income from loans was $29,689,000.
    Mountainone Bank's fee based income from loans was $866,000.
    Mountainone Bank's net income from loans was $7,963,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,526
    Provision for credit losses $1,600
    Total noninterest expense $30,407
    Salaries and employee benefits $19,017
    Premises and equipment expense $3,206
    Additional noninterest expense $8,184
    Applicable income taxes $2,788
    Net charge-offs $1,842
    Cash dividends $0

    Mountainone Bank's interest expense for loans was $10,526,000.
    Mountainone Bank's payroll and benefits expense were $19,017,000.
    Mountainone Bank's property, plant and equipment expenses $3,206,000.

    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 1.0%
    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 $661,625
    Deposits held in domestic offices $661,625
    Deposits by Individuals, partnerships, and corporations $624,133
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $37,492
    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 $36,983
    Demand deposits $25,897
    Nontransaction accounts $624,642
    Money market deposit accounts (MMDAs) $230,277
    Other savings deposits (excluding MMDAs) $177,331
    Total time deposits $217,033
    Total time and savings deposits $635,728
    Noninterest-bearing deposits $107,500
    Interest-bearing deposits $554,125
    Retail deposits $448,548
    IRAs and Keogh plan accounts $16,732
    Brokered deposits $80,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $892,690
    Cash & Balances due from depository institutions $20,116
    Interest-bearing balances $8,718
    Total securities $96,783
    Federal funds sold & reverse repurchase $5,411
    Net loans and leases $698,750
    Loan and leases loss allowance $9,648
    Trading account assets $0
    Bank premises and fixed assets $15,283
    Other real estate owned $1,465
    Goodwill and other intangibles $3,310
    All other assets $51,572

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $892,690
    Total Liabilities $780,063
    Total deposits $661,625
    Interest-bearing deposits $554,125
    Deposits held in domestic offices $661,625
    % insured (estimated) $60
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $104,700
    Subordinated debt $0
    All other liabilities $13,738

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $698,750
    Loan and leases loss allowance $9,648
    Total loans and leases (domestic) $708,398
    All real estate loans $598,150
    Real estate loans in domestic offices $598,150
    Construction and development loans $130,830
    Residential 1-4 family construction $28,131
    Other construction, all land development and other land $102,699
    Loans secured by nonfarm nonresidential properties $162,044
    Nonfarm nonresidential secured by owner-occupied properties $86,747
    Commercial real estate & other non-farm, non-residential $75,297
    Multifamily residential real estate $37,765
    1-4 family residential loans $267,511
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $101,744
    To non-U.S. addressees $0
    Loans to individuals $8,504
    Credit card loans $0
    Related Plans $113
    Consumer Auto Loans $0
    Other loans to individuals $8,391
    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 $3,066
    Non 1-4 family restructured loans & leases $84
    Total loans and leases (foreign) $0

    MountainOne Bank had $698,750,000 of loans outstanding in 2019. $598,150,000 of loans were in real estate loans. $130,830,000 of loans were in development loans. $37,765,000 of loans were in multifamily mortgage loans. $267,511,000 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 166 $43,922 $264,590
    Nonfarm, nonresidential loans - <$100k 17 $571 $33,588
    Nonfarm, nonresidential loans - $100-250k 53 $6,826 $128,792
    Nonfarm, nonresidential loans - $250k-1MM 96 $36,525 $380,469
    Commercial & Industrial, US addressed loans - <$1MM 461 $46,966 $101,879
    Commercial & Industrial, US addressed loans - <$100k 225 $4,729 $21,018
    Commercial & Industrial, US addressed loans - $100-250k 133 $9,840 $73,985
    Commercial & Industrial, US addressed loans - $250k-1MM 103 $32,397 $314,534