Marblehead Bank Mortgage Rates, Fees & Info

MARBLEHEAD, MA

LEI: 5493007C2UVB2OGY1G25

Tax ID: 04-1580550

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Marblehead Bank is a smaller bank specializing in Home Purchase and Refi loans. Marblehead Bank has a high proportion of conventional loans. Their top two markets are Boston and Providence .

Marblehead 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.

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.


Originations

76

Origination Dollar Volume (All Markets)

$22,730,000

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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 75 $22,475,000 $299,667 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Marblehead Bank's top markets include Boston and Providence among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $22,730,000 $299,079 $0 0.00%

    For 2018, Marblehead Bank's most frequently originated type of loan was Conventional, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $11,535,000 $397,759 $0 0.00%
    Refi 17 $5,365,000 $315,588 $0 0.00%
    Cash Out Refi 16 $4,270,000 $266,875 $0 0.00%
    Home Improvement 8 $970,000 $121,250 $0 0.00%
    Other 6 $590,000 $98,333 $0 0.00%

    For 2018, Marblehead Bank's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 76 $22,730,000 $299,079 $0 0.00%

    For 2018, Marblehead Bank's most frequently cited loan duration was Other, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 34 $9,740,000 $286,471 $0 0.00%
    $400k-600k 15 $6,935,000 $462,333 $0 0.00%
    $100,000 or less 13 $765,000 $58,846 $0 0.00%
    $100k-200k 10 $1,570,000 $157,000 $0 0.00%
    $1MM+ 2 $2,320,000 $1,160,000 $0 0.00%
    $600k-1MM 2 $1,400,000 $700,000 $0 0.00%

    2018 saw Marblehead Bank place emphasis on $200k-400k loans with 34 originations, totaling $9,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 19 $5,635,000 $296,579 $0 0.00%
    $100k-150k 15 $3,785,000 $252,333 $0 0.00%
    $75k-100k 10 $2,280,000 $228,000 $0 0.00%
    $250k+ 9 $2,515,000 $279,444 $0 0.00%
    $50k-75k 8 $1,840,000 $230,000 $0 0.00%

    Marblehead Bank lent most frequently to those with incomes in the $150k-250k range, with 19 originations. The second most popular income band? $100k-150k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 76 $22,730,000 $299,079 $0 0.00%

    Marblehead Bank lent most frequently to those with DTI ratios of Exempt%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 63 $16,875,000 $267,857 $0 0.00%
    Not applicable 13 $5,855,000 $450,385 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.52%

    Marblehead 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 origination
    80.26%

    Marblehead Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 76 $22,730,000 $299,079

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $3,160,000 $790,000
    Single Family (1-4 Units):Site-Built 72 $19,570,000 $271,806