Beverly Bank Mortgage Rates, Fees & Info
Beverly, MALEI: 549300870JZ39IQGKY98
Tax ID: 04-1087180
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Mortgage Data
Review & Overview
Beverly Bank is a smaller bank specializing in Home Purchase and Refi loans. Beverly Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Berlin, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Beverly 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
152Origination Dollar Volume (All Markets)
$72,180,000Top 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 149 | $70,945,000 | $476,141 | $0 | 0.00% |
| Berlin, NH (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $185,000 | $185,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 152 | $72,180,000 | $474,868 | $0 | 0.00% |
For 2019, Beverly Bank's most frequently originated type of loan was Conventional, with 152 originations.
Loan Reason
For 2019, Beverly Bank's most frequently cited loan purpose was Home Purchase, with 79 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 152 | $72,180,000 | $474,868 | $0 | 0.00% |
For 2019, Beverly Bank's most frequently cited loan duration was Other, with 152 originations.
Loan Sizing
2019 saw Beverly Bank place emphasis on $200k-400k loans with 55 originations, totaling $16,305,000 in origination value.
Applicant Income
Beverly Bank lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $75k-100k, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 152 | $72,180,000 | $474,868 | $0 | 0.00% |
Beverly Bank lent most frequently to those with DTI ratios of Exempt%, with 152 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.23%
Beverly Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.53%
Beverly Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 152 | $72,180,000 | $474,868 |