Eastern Connecticut Savings Bank Mortgage Rates, Fees & Info

Norwich, CT

LEI: 54930071HHK4VYJ1SG61

Tax ID: 06-0475460

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Mortgage Data

Review & Overview

Eastern Connecticut Savings Bank is a smaller bank specializing in Home Purchase loans. Eastern Connecticut Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Norwich, Hartford, Worcester, New Haven, and Providence among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Eastern Connecticut Savings 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.

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Originations

57

Origination Dollar Volume (All Markets)

$7,955,000

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
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 26 $2,830,000 $108,846 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 14 $2,000,000 $142,857 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 9 $1,675,000 $186,111 $0 0.00%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 7 $1,405,000 $200,714 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Eastern Connecticut Savings Bank's top markets include Norwich, Hartford, Worcester, New Haven, and Providence among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $7,955,000 $139,561 $0 0.00%

    For 2023, Eastern Connecticut Savings Bank's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 19 $1,155,000 $60,789 $0 0.00%
    Home Purchase 14 $3,220,000 $230,000 $0 0.00%
    Home Improvement 14 $1,160,000 $82,857 $0 0.00%
    Cash Out Refi 8 $1,580,000 $197,500 $0 0.00%
    Refi 2 $840,000 $420,000 $0 0.00%

    For 2023, Eastern Connecticut Savings Bank's most frequently cited loan purpose was Other, with 19 originations. The 2nd most popular reason was Home Purchase, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 57 $7,955,000 $139,561 $0 0.00%

    For 2023, Eastern Connecticut Savings Bank's most frequently cited loan duration was Other, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 35 $1,985,000 $56,714 $0 0.00%
    $100k-200k 9 $1,265,000 $140,556 $0 0.00%
    $200k-400k 9 $2,525,000 $280,556 $0 0.00%
    $400k-600k 3 $1,455,000 $485,000 $0 0.00%
    $600k-1MM 1 $725,000 $725,000 $0 0.00%

    2023 saw Eastern Connecticut Savings Bank place emphasis on $100,000 or less loans with 35 originations, totaling $1,985,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 14 $2,690,000 $192,143 $0 0.00%
    $75k-100k 14 $1,810,000 $129,286 $0 0.00%
    $100k-150k 11 $1,375,000 $125,000 $0 0.00%
    $50k-75k 8 $580,000 $72,500 $0 0.00%
    $50k or less 5 $235,000 $47,000 $0 0.00%
    $250k+ 2 $850,000 $425,000 $0 0.00%

    Eastern Connecticut Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 14 originations. The second most popular income band? $75k-100k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 57 $7,955,000 $139,561 $0 0.00%

    Eastern Connecticut Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $6,590,000 $137,292 $0 0.00%
    Not provided 6 $1,010,000 $168,333 $0 0.00%
    Not applicable 1 $175,000 $175,000 $0 0.00%
    Black 1 $95,000 $95,000 $0 0.00%
    Asian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.21%

    Eastern Connecticut Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.93%

    Eastern Connecticut Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 57 $7,955,000 $139,561

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    57 $7,955,000 $139,561