Monson Savings Bank Mortgage Rates, Fees & Info
Monson, MALEI: 5493007H0KZ81N1H6352
Tax ID: 56-2545442
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Monson Savings Bank is a smaller bank specializing in Home Purchase loans. Monson Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Worcester, Vineyard Haven, and Portland among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Monson 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.
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
152Origination Dollar Volume (All Markets)
$46,240,000Top 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 |
|---|---|---|---|---|---|
| SPRINGFIELD, MA (FHA|USDA|VA) | 107 | $27,645,000 | $258,364 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 17 | $5,385,000 | $316,765 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 10 | $3,160,000 | $316,000 | $0 | 0.00% |
| Vineyard Haven, MA (FHA|USDA|VA) | 2 | $2,240,000 | $1,120,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $1,605,000 | $1,605,000 | $0 | 0.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $0 | 0.00% |
| Plattsburgh, NY (FHA|USDA|VA) | 1 | $975,000 | $975,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 6 | $730,000 | $121,667 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $725,000 | $725,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 152 | $46,240,000 | $304,211 | $0 | 0.00% |
For 2023, Monson Savings Bank's most frequently originated type of loan was Conventional, with 152 originations.
Loan Reason
For 2023, Monson Savings Bank's most frequently cited loan purpose was Home Purchase, with 112 originations. The 2nd most popular reason was Home Improvement, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 152 | $46,240,000 | $304,211 | $0 | 0.00% |
For 2023, Monson Savings Bank's most frequently cited loan duration was Other, with 152 originations.
Loan Sizing
2023 saw Monson Savings Bank place emphasis on $200k-400k loans with 75 originations, totaling $20,615,000 in origination value.
Applicant Income
Monson Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $150k-250k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 152 | $46,240,000 | $304,211 | $0 | 0.00% |
Monson Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 152 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.74%
Monson Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.89%
Monson Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 152 | $46,240,000 | $304,211 |