The Savings Bank Mortgage Rates, Fees & Info
Wakefield, MALEI: 5493006Q43B8FBFUVL12
Tax ID: 04-1939290
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. The Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Portland, Manchester, Springfield, and Lebanon among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)The Savings 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.
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Originations
171Origination Dollar Volume (All Markets)
$72,895,000Top Markets
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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) | 161 | $66,285,000 | $411,708 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $1,905,000 | $1,905,000 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 4 | $1,840,000 | $460,000 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $1,665,000 | $1,665,000 | $0 | 0.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 171 | $72,895,000 | $426,287 | $0 | 0.00% |
For 2024, The Savings Bank's most frequently originated type of loan was Conventional, with 171 originations.
Loan Reason
For 2024, The Savings Bank's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Home Improvement, with 33 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 171 | $72,895,000 | $426,287 | $0 | 0.00% |
For 2024, The Savings Bank's most frequently cited loan duration was Other, with 171 originations.
Loan Sizing
2024 saw The Savings Bank place emphasis on $100k-200k loans with 42 originations, totaling $5,870,000 in origination value.
Applicant Income
The Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 61 originations. The second most popular income band? $250k+, with 42 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 171 | $72,895,000 | $426,287 | $0 | 0.00% |
The Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 171 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.21%
The Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination85.96%
The Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 171 | $72,895,000 | $426,287 |