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 Cash Out Refi, Refi, and Home Purchase 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, Providence, Worcester, and Barnstable Town among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mountainone 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. 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% 11/21/24
    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

    352

    Origination Dollar Volume (All Markets)

    $120,200,000

    Employee count

    156

    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) 219 $84,935,000 $387,831 $3,688 3.19%
    PITTSFIELD, MA (FHA|USDA|VA) 88 $20,950,000 $238,068 $3,295 3.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 11 $4,675,000 $425,000 $3,633 3.68%
    WORCESTER, MA-CT (FHA|USDA|VA) 7 $2,175,000 $310,714 $3,417 2.88%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $2,090,000 $348,333 $3,675 3.23%
    Bennington, VT (FHA|USDA|VA) 8 $1,300,000 $162,500 $2,828 3.58%
    SPRINGFIELD, MA (FHA|USDA|VA) 5 $1,215,000 $243,000 $2,506 3.50%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $1,085,000 $361,667 $3,852 3.33%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $660,000 $330,000 $3,765 2.94%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $555,000 $555,000 $2,757 2.75%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $355,000 $355,000 $3,411 3.75%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $205,000 $205,000 $3,782 3.00%
    Mountainone Bank's top markets include Boston, Pittsfield, Providence, Worcester, 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: 161
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    GREYLOCK
    Similarity Rank: 300
    Piscataqua Savings Bank
    Similarity Rank: 310
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Bridgewater Savings Bank
    Similarity Rank: 600
    Triangle Credit Union
    Similarity Rank: 696
    NEW HAMPSHIRE
    Similarity Rank: 756
    NESC
    Similarity Rank: 772
    East Boston Savings Bank
    Similarity Rank: 798

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 349 $119,305,000 $341,848 $3,519 3.16%
    FHA 1 $345,000 $345,000 $10,346 3.25%
    VA 1 $285,000 $285,000 $1,479 3.38%
    USDA 1 $265,000 $265,000 $5,571 3.25%

    For 2020, Mountainone Bank's most frequently originated type of loan was Conventional, with 349 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 139 $45,615,000 $328,165 $3,533 3.14%
    Refi 126 $42,200,000 $334,921 $3,577 3.03%
    Home Purchase 73 $27,755,000 $380,205 $3,939 3.21%
    Home Improvement 10 $2,850,000 $285,000 $478 4.60%
    Other 4 $1,780,000 $445,000 $2,473 3.78%

    For 2020, Mountainone Bank's most frequently cited loan purpose was Cash Out Refi, with 139 originations. The 2nd most popular reason was Refi, with 126 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 198 $66,630,000 $336,515 $3,881 3.19%
    15 Year 74 $21,500,000 $290,541 $3,156 2.95%
    20 Year 32 $10,580,000 $330,625 $3,581 2.92%
    Other 26 $14,740,000 $566,923 $1,273 3.04%
    10 Year 14 $3,450,000 $246,429 $1,463 4.14%
    30+ year 5 $2,865,000 $573,000 $7,018 3.68%
    5 Year 2 $30,000 $15,000 $0 4.63%
    1 Year 1 $405,000 $405,000 $0 4.75%

    For 2020, Mountainone Bank's most frequently cited loan duration was 30 Year, with 198 originations. The 2nd most popular length was 15 Year, with 74 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 245 $79,165,000 $323,122
    $<1k 75 $21,705,000 $289,400
    $2k-3k 8 $2,950,000 $368,750
    $3k-4k 2 $760,000 $380,000
    $4k-5k 1 $375,000 $375,000
    $5k+ 1 $345,000 $345,000

    Mountainone Bank's average total fees were $3,881, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 245 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 157 $50,155,000 $319,459
    3-4% 135 $52,495,000 $388,852
    <2.5% 30 $5,990,000 $199,667
    4-5% 20 $6,800,000 $340,000
    5-6% 9 $4,005,000 $445,000
    6-7% 1 $755,000 $755,000

    During 2020, Mountainone Bank's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 2.5-3%, with 157 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 189 $56,485,000 $298,862 $3,662 3.10%
    $400k-600k 78 $36,380,000 $466,410 $4,075 3.15%
    $100k-200k 45 $6,595,000 $146,556 $3,071 2.94%
    $100,000 or less 21 $1,065,000 $50,714 $924 3.48%
    $600k-1MM 13 $9,735,000 $748,846 $4,940 3.91%
    $1MM+ 6 $9,940,000 $1,656,667 $4,537 4.40%

    2020 saw Mountainone Bank place emphasis on $200k-400k loans with 189 originations, totaling $56,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 96 $29,910,000 $311,563 $3,740 3.03%
    $150k-250k 94 $33,970,000 $361,383 $3,525 3.02%
    $250k+ 52 $20,670,000 $397,500 $3,600 3.08%
    $75k-100k 49 $12,175,000 $248,469 $3,145 3.24%
    $50k-75k 33 $7,735,000 $234,394 $3,682 3.21%
    $50k or less 12 $1,440,000 $120,000 $2,979 3.30%

    Mountainone Bank lent most frequently to those with incomes in the $100k-150k range, with 96 originations. The second most popular income band? $150k-250k, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 107 $33,745,000 $315,374 $3,593 3.06%
    <20% 64 $18,350,000 $286,719 $3,335 2.93%
    30-36% 61 $20,565,000 $337,131 $3,657 3.11%
    39% 17 $4,965,000 $292,059 $3,612 3.24%
    40% 12 $3,990,000 $332,500 $3,352 3.06%
    42% 12 $3,110,000 $259,167 $2,867 3.39%
    36% 10 $3,220,000 $322,000 $4,192 3.33%
    41% 9 $2,815,000 $312,778 $3,321 3.49%
    43% 8 $2,810,000 $351,250 $3,300 3.55%
    37% 8 $2,170,000 $271,250 $2,898 2.86%
    44% 7 $2,375,000 $339,286 $3,750 2.77%
    47% 4 $1,590,000 $397,500 $5,588 2.81%
    48% 4 $1,500,000 $375,000 $4,142 3.09%
    38% 4 $1,460,000 $365,000 $3,510 3.03%
    45% 3 $1,435,000 $478,333 $4,087 3.08%
    46% 3 $875,000 $291,667 $3,196 3.21%
    49% 1 $355,000 $355,000 $2,872 3.38%

    Mountainone Bank lent most frequently to those with DTI ratios of 20-30%, with 107 originations. The next most common DTI ratio? <20%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 282 $89,010,000 $315,638 $3,540 3.10%
    Not applicable 16 $14,300,000 $893,750 $0 4.63%
    Not provided 26 $9,180,000 $353,077 $3,828 3.14%
    Asian 18 $4,610,000 $256,111 $3,216 2.85%
    Black 7 $2,255,000 $322,143 $3,448 2.84%
    American Indian 3 $845,000 $281,667 $3,170 3.83%

    Approval Rates

    Total approvals of all applications
    90.11%

    Mountainone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.44%

    Mountainone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 352 $120,200,000 $341,477

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $7,015,000 $1,403,000
    Single Family (1-4 Units):Site-Built 347 $113,185,000 $326,182

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $9,475,000 $242,949 $2,950 2.98%
    40-60% 100 $33,360,000 $333,600 $3,456 3.04%
    60-80% 161 $65,345,000 $405,870 $3,877 3.28%
    80-100% 32 $10,750,000 $335,938 $4,544 3.13%
    Under 20% 20 $1,270,000 $63,500 $916 3.23%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Trouble during payment process 1 25.0%
    MOUNTAIN WEST FINANCIAL, INC. FHA mortgage Closing on a mortgage 2 50.0%
    MOUNTAIN WEST FINANCIAL, INC. FHA mortgage Trouble during payment process 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Mountainone Bank 111 Silver Lake Boulevard Pittsfield, MA 1201 Full Service B&M $30,817
    Mountainone Bank 279 Union Street Rockland, MA 2370 Full Service B&M $163,791
    Mountainone Bank 54 Front Street Scituate, MA 2066 Full Service B&M $58,074
    Mountainone Bank 77 Granite Street Quincy, MA 2169 Full Service B&M $108,646
    Mountainone Bank 795 Main Street Williamstown, MA 1267 Full Service B&M $153,242
    Mountainone Bank 93 Main Street North Adams, MA 1247 Full Service Cyber Office $1,195
    Mountainone Bank 93 Main Street North Adams, MA 1247 Full Service B&M $223,981

    For 2020, Mountainone Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $35,390
    Net interest income $29,042
    Total noninterest income $15,589
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $618
    Trading account gains and fees $0
    Additional Noninterest Income $14,971
    Pre-tax net operating income $6,245
    Securities gains (or losses, -) $14
    Income before extraordinary items $4,756
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,756
    Minority interest net income $0
    Net income $4,756
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,744

    Mountainone Bank's gross interest income from loans was $35,390,000.
    Mountainone Bank's net interest income from loans was $29,042,000.
    Mountainone Bank's fee based income from loans was $618,000.
    Mountainone Bank's net income from loans was $4,756,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,348
    Provision for credit losses $8,600
    Total noninterest expense $29,786
    Salaries and employee benefits $18,515
    Premises and equipment expense $2,925
    Additional noninterest expense $8,346
    Applicable income taxes $1,503
    Net charge-offs $1,472
    Cash dividends $0

    Mountainone Bank's interest expense for loans was $6,348,000.
    Mountainone Bank's payroll and benefits expense were $18,515,000.
    Mountainone Bank's property, plant and equipment expenses $2,925,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 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 $710,602
    Deposits held in domestic offices $710,602
    Deposits by Individuals, partnerships, and corporations $674,997
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,605
    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 $223,387
    Demand deposits $142,823
    Nontransaction accounts $487,215
    Money market deposit accounts (MMDAs) $255,525
    Other savings deposits (excluding MMDAs) $45,735
    Total time deposits $185,955
    Total time and savings deposits $567,779
    Noninterest-bearing deposits $142,823
    Interest-bearing deposits $567,779
    Retail deposits $542,025
    IRAs and Keogh plan accounts $15,897
    Brokered deposits $60,500
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $864,253
    Cash & Balances due from depository institutions $25,958
    Interest-bearing balances $16,851
    Total securities $84,371
    Federal funds sold & reverse repurchase $0
    Net loans and leases $681,530
    Loan and leases loss allowance $16,777
    Trading account assets $0
    Bank premises and fixed assets $14,485
    Other real estate owned $70
    Goodwill and other intangibles $3,258
    All other assets $54,581

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $864,253
    Total Liabilities $746,136
    Total deposits $710,602
    Interest-bearing deposits $567,779
    Deposits held in domestic offices $710,602
    % insured (estimated) $60
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,700
    Subordinated debt $0
    All other liabilities $19,834

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $681,530
    Loan and leases loss allowance $16,777
    Total loans and leases (domestic) $698,307
    All real estate loans $557,345
    Real estate loans in domestic offices $557,345
    Construction and development loans $102,545
    Residential 1-4 family construction $19,434
    Other construction, all land development and other land $83,111
    Loans secured by nonfarm nonresidential properties $184,111
    Nonfarm nonresidential secured by owner-occupied properties $73,724
    Commercial real estate & other non-farm, non-residential $110,387
    Multifamily residential real estate $41,947
    1-4 family residential loans $228,742
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $135,244
    To non-U.S. addressees $0
    Loans to individuals $5,718
    Credit card loans $0
    Related Plans $64
    Consumer Auto Loans $0
    Other loans to individuals $5,654
    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 $2,860
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    MountainOne Bank had $681,530,000 of loans outstanding in 2020. $557,345,000 of loans were in real estate loans. $102,545,000 of loans were in development loans. $41,947,000 of loans were in multifamily mortgage loans. $228,742,000 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 154 $39,611 $257,214
    Nonfarm, nonresidential loans - <$100k 14 $502 $35,857
    Nonfarm, nonresidential loans - $100-250k 53 $6,573 $124,019
    Nonfarm, nonresidential loans - $250k-1MM 87 $32,536 $373,977
    Commercial & Industrial, US addressed loans - <$1MM 537 $66,066 $123,028
    Commercial & Industrial, US addressed loans - <$100k 242 $5,842 $24,140
    Commercial & Industrial, US addressed loans - $100-250k 156 $14,943 $95,788
    Commercial & Industrial, US addressed loans - $250k-1MM 139 $45,281 $325,763