Country Bank For Savings Mortgage Rates, Fees & Info

Ware, MA

LEI: 5493005NN76XZ2NOFH19

Tax ID: 04-1946610

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
  • 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

    Country Bank For Savings is a smaller bank specializing in Home Purchase and Refi loans. Country Bank For Savings has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Worcester, Providence, Boston, and Bridgeport among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Country Bank For Savings 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. Country Bank For Savings 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
    Home Equity Line of Credit (HELOC) 5.21% 4/28/24
    30 Year Conventional Purchase 5.80% 4/28/24
    30 Year Conventional Refi 5.87% 4/28/24
    30 Year Cash-out Refi 6.20% 4/28/24
    15 Year Conventional Purchase 5.26% 4/28/24
    15 Year Conventional Refi 5.68% 4/28/24
    15 Year Cash-out Refi 5.68% 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.

    Country Bank For Savings Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Country Bank For Savings. 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

    656

    Origination Dollar Volume (All Markets)

    $174,710,000

    Awards

    Country Bank for Savings 30 Year Conventional Loans silver Country Bank for Savings 30 Year Conventional Loans gold Country Bank for Savings 30 Year Conventional 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
    SPRINGFIELD, MA (FHA|USDA|VA) 384 $68,220,000 $177,656 $4,423 4.53%
    WORCESTER, MA-CT (FHA|USDA|VA) 242 $63,230,000 $261,281 $4,651 4.45%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 10 $23,930,000 $2,393,000 $0 4.89%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 10 $9,040,000 $904,000 $5,100 4.77%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $7,815,000 $7,815,000 $0 4.02%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 9 $2,475,000 $275,000 $4,326 4.06%
    Country Bank For Savings's top markets include Springfield, Worcester, Providence, Boston, and Bridgeport among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)

    • Similar Lenders

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

    Charter Oak Federal Credit Union
    Similarity Rank: 42
    HOMEFIELD
    Similarity Rank: 72
    Freedom Credit Union
    Similarity Rank: 78
    ARRHA Credit Union
    Similarity Rank: 105
    Middlesex Savings Bank
    Similarity Rank: 120
    POLISH NATIONAL
    Similarity Rank: 130
    IC Federal Credit Union
    Similarity Rank: 144
    LUSO
    Similarity Rank: 144
    Florence Bank
    Similarity Rank: 150
    Adams Community Bank
    Similarity Rank: 156

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 341 $36,655,000 $107,493 n/a 4.97%
    Conventional 315 $138,055,000 $438,270 $4,499 3.99%

    For 2022, Country Bank For Savings's most frequently originated type of loan was HELOC, with 341 originations. Their 2nd most popular type was Conventional, with 315 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 243 $95,735,000 $393,971 $4,815 4.13%
    Home Improvement 155 $12,875,000 $83,065 $6,176 5.06%
    Refi 106 $41,740,000 $393,774 $3,689 4.66%
    Other 87 $7,665,000 $88,103 $4,034 4.89%
    Cash Out Refi 65 $16,695,000 $256,846 $3,598 3.79%

    For 2022, Country Bank For Savings's most frequently cited loan purpose was Home Purchase, with 243 originations. The 2nd most popular reason was Home Improvement, with 155 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 355 $45,105,000 $127,056 $2,712 4.97%
    30 Year 260 $80,100,000 $308,077 $4,587 3.95%
    20 Year 17 $4,735,000 $278,529 $3,655 4.01%
    15 Year 14 $2,640,000 $188,571 $3,477 3.24%
    10 Year 9 $41,785,000 $4,642,778 $0 4.74%
    5 Year 1 $345,000 $345,000 $0 4.25%

    For 2022, Country Bank For Savings's most frequently cited loan duration was Other, with 355 originations. The 2nd most popular length was 30 Year, with 260 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 156 $43,690,000 $280,064
    $1k-2k 67 $19,675,000 $293,657
    $2k-3k 22 $7,400,000 $336,364
    $3k-4k 10 $3,800,000 $380,000
    $5k+ 7 $2,475,000 $353,571
    $4k-5k 5 $2,005,000 $401,000

    Country Bank For Savings's average total fees were $4,587, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 156 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 288 $68,310,000 $237,188
    4-5% 164 $71,560,000 $436,341
    5-6% 86 $21,250,000 $247,093
    6-7% 62 $5,410,000 $87,258
    2.5-3% 32 $6,280,000 $196,250
    7-8% 14 $1,170,000 $83,571
    Over 8% 10 $730,000 $73,000

    During 2022, Country Bank For Savings's average interest rate for loans was 3.95%, while their most frequently originated rate bucket for loans was 3-4%, with 288 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 219 $11,885,000 $54,269 $3,491 5.08%
    $200k-400k 201 $55,315,000 $275,199 $4,515 4.18%
    $100k-200k 156 $22,720,000 $145,641 $3,271 4.26%
    $400k-600k 52 $24,790,000 $476,731 $6,009 4.08%
    $1MM+ 16 $51,970,000 $3,248,125 $6,454 4.46%
    $600k-1MM 12 $8,030,000 $669,167 $6,323 4.24%

    2022 saw Country Bank For Savings place emphasis on $100,000 or less loans with 219 originations, totaling $11,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 164 $23,740,000 $144,756 $3,932 4.47%
    $100k-150k 131 $29,065,000 $221,870 $4,793 4.52%
    $75k-100k 128 $21,260,000 $166,094 $4,230 4.57%
    $150k-250k 104 $26,560,000 $255,385 $5,423 4.30%
    $50k or less 70 $6,650,000 $95,000 $3,148 4.46%
    $250k+ 24 $10,400,000 $433,333 $5,949 4.79%

    Country Bank For Savings lent most frequently to those with incomes in the $50k-75k range, with 164 originations. The second most popular income band? $100k-150k, with 131 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 115 $27,425,000 $238,478 $4,470 4.12%
    50-60% 88 $10,910,000 $123,977 $4,508 4.57%
    30-36% 78 $15,840,000 $203,077 $4,684 4.17%
    >60% 46 $7,220,000 $156,957 $3,979 4.74%
    <20% 35 $7,375,000 $210,714 $4,290 4.44%
    41% 27 $6,335,000 $234,630 $4,597 4.35%
    45% 24 $4,900,000 $204,167 $4,458 4.30%
    47% 22 $4,800,000 $218,182 $4,926 4.49%
    37% 20 $2,650,000 $132,500 $4,988 4.58%
    38% 19 $3,465,000 $182,368 $4,014 4.50%
    40% 19 $2,985,000 $157,105 $5,051 5.19%
    48% 19 $2,995,000 $157,632 $3,838 5.26%
    36% 18 $3,470,000 $192,778 $4,543 4.35%
    43% 17 $3,425,000 $201,471 $4,927 4.42%
    44% 17 $3,155,000 $185,588 $4,754 4.68%
    49% 16 $2,790,000 $174,375 $4,764 5.83%
    42% 15 $2,575,000 $171,667 $3,793 4.58%
    46% 14 $2,580,000 $184,286 $3,789 4.39%
    39% 12 $2,780,000 $231,667 $4,578 4.79%

    Country Bank For Savings lent most frequently to those with DTI ratios of 20-30%, with 115 originations. The next most common DTI ratio? 50-60%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 399 $70,655,000 $177,080 $4,334 4.52%
    Not applicable 35 $57,035,000 $1,629,571 $0 4.84%
    Not provided 204 $41,880,000 $205,294 $4,680 4.43%
    Asian 5 $2,695,000 $539,000 $6,150 3.80%
    Black 13 $2,445,000 $188,077 $4,055 4.36%

    Approval Rates

    Total approvals of all applications
    90.77%

    Country Bank For Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.37%

    Country Bank For Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 11 $895,000 $81,364
    NA 645 $173,815,000 $269,481

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    656 $174,710,000 $266,326

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 136 $15,230,000 $111,985 $3,230 4.92%
    40-60% 99 $52,015,000 $525,404 $3,681 4.16%
    60-80% 153 $58,105,000 $379,771 $4,787 4.16%
    80-100% 119 $42,125,000 $353,992 $4,810 4.01%
    Under 20% 149 $7,235,000 $48,557 $2,659 5.09%