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

Jump to:

  • 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)

    • 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.) Their top markets by origination volume include: Boston, Pittsfield, Providence, Bennington, and Barnstable Town among others. We have data for 10 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 an average 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% 4/28/24
    30 Year Conventional Refi 6.17% 4/28/24
    30 Year Cash-out Refi 6.34% 4/28/24
    30 Year FHA Purchase 7.24% 4/28/24
    30 Year USDA Purchase 6.27% 4/28/24
    15 Year Conventional Purchase 6.12% 4/28/24
    15 Year Conventional Refi 5.96% 4/28/24
    15 Year Cash-out Refi 5.96% 4/28/24
    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

    151

    Origination Dollar Volume (All Markets)

    $98,575,000

    Awards

    MountainOne Bank 30 Year Conventional Loans silver
    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) 74 $65,980,000 $891,622 $4,247 4.61%
    PITTSFIELD, MA (FHA|USDA|VA) 54 $15,190,000 $281,296 $3,049 3.94%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 8 $12,240,000 $1,530,000 $8,411 5.30%
    Outside of Metro Areas 3 $2,085,000 $695,000 $4,670 5.67%
    Bennington, VT (FHA|USDA|VA) 7 $1,315,000 $187,857 $3,385 3.78%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $805,000 $805,000 $5,507 5.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $335,000 $335,000 $5,361 5.00%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $245,000 $245,000 $4,273 3.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $195,000 $195,000 $4,304 3.38%
    Rutland, VT (FHA|USDA|VA) 1 $185,000 $185,000 $4,529 6.50%
    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.

    GREYLOCK
    Similarity Rank: 39
    Adams Community Bank
    Similarity Rank: 48
    QUINCY CREDIT UNION
    Similarity Rank: 50
    Direct Federal Credit Union
    Similarity Rank: 115
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    Middlesex Savings Bank
    Similarity Rank: 195
    Piscataqua Savings Bank
    Similarity Rank: 200
    ALIGN CREDIT UNION
    Similarity Rank: 200
    North Easton Savings Bank
    Similarity Rank: 348
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 357

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 150 $98,050,000 $653,667 $3,783 4.39%
    FHA 1 $525,000 $525,000 $14,150 4.50%

    For 2022, Mountainone Bank's most frequently originated type of loan was Conventional, with 150 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 85 $59,025,000 $694,412 $4,381 4.26%
    Cash Out Refi 26 $20,330,000 $781,923 $3,561 4.87%
    Refi 17 $5,755,000 $338,529 $3,173 3.88%
    Home Improvement 13 $9,185,000 $706,538 $2,226 5.31%
    Other 10 $4,280,000 $428,000 $3,202 3.95%

    For 2022, Mountainone Bank's most frequently cited loan purpose was Home Purchase, with 85 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 92 $40,800,000 $443,478 $4,737 4.46%
    Other 19 $30,675,000 $1,614,474 $8 3.22%
    15 Year 13 $2,025,000 $155,769 $2,780 4.26%
    10 Year 11 $17,645,000 $1,604,091 $0 4.84%
    20 Year 10 $1,860,000 $186,000 $2,295 4.96%
    1 Year 3 $4,045,000 $1,348,333 $0 5.42%
    30+ year 2 $1,510,000 $755,000 $7,558 5.31%
    5 Year 1 $15,000 $15,000 $0 6.50%

    For 2022, Mountainone Bank's most frequently cited loan duration was 30 Year, with 92 originations. The 2nd most popular length was Other, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 92 $38,120,000 $414,348
    $<1k 24 $2,060,000 $85,833
    $5k+ 3 $985,000 $328,333
    $2k-3k 1 $335,000 $335,000
    $3k-4k 1 $475,000 $475,000
    $4k-5k 1 $355,000 $355,000

    Mountainone Bank's average total fees were $4,737, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 92 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 49 $40,235,000 $821,122
    5-6% 39 $27,775,000 $712,179
    4-5% 32 $21,130,000 $660,313
    <2.5% 10 $750,000 $75,000
    6-7% 10 $5,610,000 $561,000
    2.5-3% 8 $2,310,000 $288,750
    7-8% 3 $765,000 $255,000

    During 2022, Mountainone Bank's average interest rate for loans was 4.46%, while their most frequently originated rate bucket for loans was 3-4%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 49 $14,425,000 $294,388 $4,534 4.36%
    $100k-200k 33 $4,705,000 $142,576 $2,187 4.14%
    $400k-600k 24 $12,040,000 $501,667 $5,551 4.52%
    $1MM+ 19 $58,505,000 $3,079,211 $6,814 4.95%
    $100,000 or less 15 $715,000 $47,667 $778 4.06%
    $600k-1MM 11 $8,185,000 $744,091 $5,277 4.44%

    2022 saw Mountainone Bank place emphasis on $200k-400k loans with 49 originations, totaling $14,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 34 $10,320,000 $303,529 $3,375 4.23%
    $100k-150k 29 $7,105,000 $245,000 $4,135 4.35%
    $250k+ 26 $18,270,000 $702,692 $4,879 4.50%
    $75k-100k 19 $4,905,000 $258,158 $3,269 4.33%
    $50k-75k 18 $3,330,000 $185,000 $3,768 3.86%
    $50k or less 4 $460,000 $115,000 $2,708 4.19%

    Mountainone Bank lent most frequently to those with incomes in the $150k-250k range, with 34 originations. The second most popular income band? $100k-150k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 33 $11,115,000 $336,818 $3,758 4.00%
    30-36% 32 $9,530,000 $297,813 $3,553 4.56%
    <20% 15 $6,105,000 $407,000 $3,296 3.78%
    44% 8 $2,760,000 $345,000 $3,201 4.45%
    37% 7 $2,465,000 $352,143 $4,803 4.52%
    38% 5 $1,515,000 $303,000 $4,118 4.80%
    39% 5 $1,125,000 $225,000 $4,723 3.65%
    49% 4 $1,980,000 $495,000 $5,251 4.84%
    41% 4 $1,100,000 $275,000 $7,100 4.81%
    43% 4 $1,140,000 $285,000 $2,281 3.58%
    36% 3 $2,745,000 $915,000 $5,042 4.25%
    40% 2 $710,000 $355,000 $4,599 5.00%
    47% 2 $750,000 $375,000 $4,216 3.69%
    42% 2 $700,000 $350,000 $3,970 4.81%
    46% 1 $145,000 $145,000 $3,553 3.25%
    48% 1 $295,000 $295,000 $4,351 3.50%

    Mountainone Bank lent most frequently to those with DTI ratios of 20-30%, with 33 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 21 $54,185,000 $2,580,238 $0 5.12%
    White 123 $42,745,000 $347,520 $3,921 4.23%
    Asian 4 $1,010,000 $252,500 $3,081 4.67%
    Black 2 $380,000 $190,000 $2,117 5.19%
    Not provided 1 $255,000 $255,000 $4,343 5.38%

    Approval Rates

    Total approvals of all applications
    90.08%

    Mountainone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.44%

    Mountainone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 151 $98,575,000 $652,815

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    151 $98,575,000 $652,815

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $4,245,000 $223,421 $2,020 3.65%
    40-60% 28 $15,110,000 $539,643 $4,385 4.29%
    60-80% 54 $61,160,000 $1,132,593 $5,158 4.70%
    80-100% 29 $14,875,000 $512,931 $5,106 4.52%
    Over 100% 1 $1,395,000 $1,395,000 $0 4.75%
    Under 20% 20 $1,790,000 $89,500 $621 4.19%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    MOUNTAIN AMERICA FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%