Eastern Savings Bank Mortgage Rates, Fees & Info
HUNT VALLEY, MDLEI: 5493007O5KJGDP4CB858
Tax ID: 52-0623475
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Eastern Savings Bank is a smaller bank specializing in Home Purchase loans. Eastern Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Philadelphia, New York, Poughkeepsie, and Washington among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Eastern Savings Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Eastern Savings Bank is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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
90Origination Dollar Volume (All Markets)
$30,820,000Top 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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 50 | $20,140,000 | $402,800 | $6,920 | 6.15% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 20 | $4,720,000 | $236,000 | $9,940 | 6.41% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 14 | $4,580,000 | $327,143 | $13,207 | 6.29% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 5.50% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 5.50% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 6.50% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 6.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.25% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 90 | $30,820,000 | $342,444 | $10,362 | 6.21% |
For 2018, Eastern Savings Bank's most frequently originated type of loan was Conventional, with 90 originations.
Loan Reason
For 2018, Eastern Savings Bank's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
For 2018, Eastern Savings Bank's most frequently cited loan duration was Other, with 45 originations. The 2nd most popular length was 30 Year, with 41 originations.
Origination Fees/Closing Costs
Eastern Savings Bank's average total fees were $8,572, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 42 | $20,220,000 | $481,429 |
| 5-6% | 28 | $7,400,000 | $264,286 |
| 4-5% | 10 | $1,110,000 | $111,000 |
| 7-8% | 8 | $1,290,000 | $161,250 |
| Over 8% | 2 | $800,000 | $400,000 |
During 2018, Eastern Savings Bank's average interest rate for loans was 5.82%, while their most frequently originated rate bucket for loans was 6-7%, with 42 originations.
Loan Sizing
2018 saw Eastern Savings Bank place emphasis on $100k-200k loans with 27 originations, totaling $3,815,000 in origination value.
Applicant Income
Eastern Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $250k+, with 7 originations.
Applicant Debt to Income Ratio
Eastern Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? 30-36%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications59.55%
Eastern Savings Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination64.44%
Eastern 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 |
|---|---|---|---|
| NA | 90 | $30,820,000 | $342,444 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 16 | $15,320,000 | $957,500 |
| Single Family (1-4 Units):Site-Built | 74 | $15,500,000 | $209,459 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| EASTERN BANKSHARES INC | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |