Monson Savings Bank Mortgage Rates, Fees & Info
Monson, MALEI: 5493007H0KZ81N1H6352
Tax ID: 56-2545442
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Monson Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Monson Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Worcester, Vineyard Haven, and Barnstable Town among others. We have data for 21 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.
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Originations
300Origination Dollar Volume (All Markets)
$107,840,000Top 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) | 223 | $77,575,000 | $347,870 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 27 | $7,515,000 | $278,333 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 11 | $4,365,000 | $396,818 | $0 | 0.00% |
| Vineyard Haven, MA (FHA|USDA|VA) | 2 | $3,240,000 | $1,620,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 7 | $2,935,000 | $419,286 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $2,735,000 | $911,667 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 4 | $2,010,000 | $502,500 | $0 | 0.00% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $1,820,000 | $910,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $1,275,000 | $425,000 | $0 | 0.00% |
| Torrington, CT (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 6 | $290,000 | $48,333 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 300 | $107,840,000 | $359,467 | $0 | 0.00% |
For 2022, Monson Savings Bank's most frequently originated type of loan was Conventional, with 300 originations.
Loan Reason
For 2022, Monson Savings Bank's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Cash Out Refi, with 87 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 300 | $107,840,000 | $359,467 | $0 | 0.00% |
For 2022, Monson Savings Bank's most frequently cited loan duration was Other, with 300 originations.
Loan Sizing
2022 saw Monson Savings Bank place emphasis on $200k-400k loans with 136 originations, totaling $37,790,000 in origination value.
Applicant Income
Monson Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 68 originations. The second most popular income band? $150k-250k, with 58 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 300 | $107,840,000 | $359,467 | $0 | 0.00% |
Monson Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 300 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.04%
Monson Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.67%
Monson Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 300 | $107,840,000 | $359,467 |