Province Mortgage Associates Rates, Fees & Info
ATTLEBORO, MALEI: 5493008XQDQ2YZPQKX53
Tax ID: 20-2272566
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Mortgage Data
Review & Overview
Province Mortgage Associates is a smaller mortgage company specializing in Home Purchase loans. Province Mortgage Associates has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Providence, Hartford, New Haven, Boston, and Worcester among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Province Mortgage Associates 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. Province Mortgage Associates is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.74% | 11/17/24 |
| 30 Year Conventional Refi | 6.48% | 11/17/24 |
| 30 Year Cash-out Refi | 6.84% | 11/17/24 |
| 30 Year FHA Purchase | 7.33% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.35% | 11/17/24 |
| 30 Year USDA Purchase | 6.70% | 11/17/24 |
| 15 Year Conventional Purchase | 6.32% | 11/17/24 |
| 15 Year Conventional Refi | 6.42% | 11/17/24 |
| 15 Year Cash-out Refi | 6.42% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Province Mortgage Associates Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
419Origination Dollar Volume (All Markets)
$131,945,000Awards
PROVINCE MORTGAGE ASSOCIATES - 2023
PROVINCE MORTGAGE ASSOCIATES is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Province Mortgage Associates's average 30 year fixed mortgage rate was
6.94%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.46%.
Relative Fees (Closing Costs)
Province Mortgage Associates's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,615.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 179 | $59,375,000 | $331,704 | $7,931 | 7.03% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 70 | $19,180,000 | $274,000 | $7,210 | 6.84% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 66 | $17,860,000 | $270,606 | $6,602 | 6.70% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 27 | $12,815,000 | $474,630 | $7,566 | 7.05% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 24 | $7,870,000 | $327,917 | $7,896 | 6.90% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 14 | $3,950,000 | $282,143 | $8,025 | 6.87% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 9 | $3,075,000 | $341,667 | $8,312 | 7.15% |
| Torrington, CT (FHA|USDA|VA) | 12 | $2,930,000 | $244,167 | $7,903 | 6.86% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $7,815 | 6.84% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $8,630 | 7.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $24,712 | 7.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $23,469 | 6.25% |
| PITTSFIELD, MA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $5,541 | 6.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,794 | 7.13% |
| Concord, NH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,924 | 8.25% |
| Laconia, NH (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,684 | 7.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,471 | 6.75% |
| Berlin, NH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,996 | 7.88% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $3,923 | 7.13% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,025 | 7.63% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against PROVINCE MORTGAGE ASSOCIATES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, Province Mortgage Associates's most frequently originated type of loan was Conventional, with 315 originations. Their 2nd most popular type was FHA, with 85 originations.
Loan Reason
For 2023, Province Mortgage Associates's most frequently cited loan purpose was Home Purchase, with 381 originations. The 2nd most popular reason was Cash Out Refi, with 32 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 417 | $131,625,000 | $315,647 | $7,615 | 6.94% |
| 15 Year | 2 | $320,000 | $160,000 | $6,275 | 6.13% |
For 2023, Province Mortgage Associates's most frequently cited loan duration was 30 Year, with 417 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
Province Mortgage Associates's average total fees were $7,615, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 168 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 209 | $63,785,000 | $305,191 |
| 7-8% | 166 | $55,250,000 | $332,831 |
| 5-6% | 30 | $8,120,000 | $270,667 |
| Over 8% | 12 | $3,800,000 | $316,667 |
| 4-5% | 2 | $990,000 | $495,000 |
During 2023, Province Mortgage Associates's average interest rate for loans was 6.94%, while their most frequently originated rate bucket for loans was 6-7%, with 209 originations.
Loan Sizing
2023 saw Province Mortgage Associates place emphasis on $200k-400k loans with 271 originations, totaling $79,885,000 in origination value.
Applicant Income
Province Mortgage Associates lent most frequently to those with incomes in the $100k-150k range, with 118 originations. The second most popular income band? $50k-75k, with 96 originations.
Applicant Debt to Income Ratio
Province Mortgage Associates lent most frequently to those with DTI ratios of 30-36%, with 66 originations. The next most common DTI ratio? 50-60%, with 38 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.04%
Province Mortgage Associates has an average approval rate.
Pick Rate
Approvals leading to origination76.61%
Province Mortgage Associates has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 419 | $131,945,000 | $314,905 |