Eastern Connecticut Savings Bank Mortgage Rates, Fees & Info
Norwich, CTLEI: 54930071HHK4VYJ1SG61
Tax ID: 06-0475460
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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 Bridgeport among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Eastern Connecticut 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
238Origination Dollar Volume (All Markets)
$62,390,000Top 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) | 129 | $35,335,000 | $273,915 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 36 | $9,220,000 | $256,111 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 42 | $9,110,000 | $216,905 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 23 | $5,805,000 | $252,391 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 4 | $1,740,000 | $435,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $0 | 0.00% |
| Torrington, CT (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 238 | $62,390,000 | $262,143 | $0 | 0.00% |
For 2022, Eastern Connecticut Savings Bank's most frequently originated type of loan was Conventional, with 238 originations.
Loan Reason
For 2022, Eastern Connecticut Savings Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Cash Out Refi, with 46 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 238 | $62,390,000 | $262,143 | $0 | 0.00% |
For 2022, Eastern Connecticut Savings Bank's most frequently cited loan duration was Other, with 238 originations.
Loan Sizing
2022 saw Eastern Connecticut Savings Bank place emphasis on $200k-400k loans with 80 originations, totaling $23,320,000 in origination value.
Applicant Income
Eastern Connecticut Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $150k-250k, with 57 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 238 | $62,390,000 | $262,143 | $0 | 0.00% |
Eastern Connecticut Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 238 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.08%
Eastern Connecticut 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 origination66.81%
Eastern Connecticut Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 238 | $62,390,000 | $262,143 |