Province Mortgage Associates Rates, Fees & Info

ATTLEBORO, MA

LEI: 5493008XQDQ2YZPQKX53

Tax ID: 20-2272566

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Province Mortgage Associates is a smaller mortgage company specializing in Refi and 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, Boston, New Haven, Hartford, and Bridgeport among others. We have data for 22 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 about average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.74% 11/21/24
    30 Year Conventional Refi 6.48% 11/21/24
    30 Year Cash-out Refi 6.84% 11/21/24
    30 Year FHA Purchase 7.33% 11/21/24
    30 Year FHA Refi 6.27% 11/21/24
    30 Year VA Purchase 6.35% 11/21/24
    30 Year USDA Purchase 6.70% 11/21/24
    15 Year Conventional Purchase 6.32% 11/21/24
    15 Year Conventional Refi 6.42% 11/21/24
    15 Year Cash-out Refi 6.42% 11/21/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Province Mortgage Associates. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,575

    Origination Dollar Volume (All Markets)

    $420,515,000

    Awards

    PROVINCE MORTGAGE ASSOCIATES 30 Year Conventional Loans bronze PROVINCE MORTGAGE ASSOCIATES 30 Year Conventional Loans gold
    Show all (2) awards

    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) 1,147 $301,385,000 $262,759 $5,028 3.26%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 95 $32,805,000 $345,316 $4,470 3.10%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 93 $24,525,000 $263,710 $4,505 3.03%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 69 $16,545,000 $239,783 $5,007 3.08%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 54 $15,570,000 $288,333 $4,540 3.08%
    WORCESTER, MA-CT (FHA|USDA|VA) 60 $14,760,000 $246,000 $4,449 3.23%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 25 $6,145,000 $245,800 $5,248 3.14%
    Torrington, CT (FHA|USDA|VA) 7 $1,825,000 $260,714 $6,425 2.82%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,140,000 $285,000 $4,376 3.03%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $815,000 $271,667 $5,233 3.13%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $750,000 $375,000 $4,215 3.44%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $730,000 $365,000 $7,577 3.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $715,000 $238,333 $4,198 3.38%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $490,000 $245,000 $6,326 4.00%
    Laconia, NH (FHA|USDA|VA) 1 $415,000 $415,000 $5,819 3.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $4,456 2.88%
    Outside of Metro Areas 2 $340,000 $170,000 $3,086 3.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $335,000 $335,000 $3,366 3.38%
    Berlin, NH (FHA|USDA|VA) 1 $305,000 $305,000 $3,484 2.88%
    Keene, NH (FHA|USDA|VA) 1 $225,000 $225,000 $7,754 3.00%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $175,000 $175,000 $5,765 3.38%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $175,000 $175,000 $2,517 2.88%
    Province Mortgage Associates's top markets include Providence, Boston, New Haven, Hartford, and Bridgeport among others.

    Their top states include:
  • Rhode Island (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • 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.

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Stafford Savings Bank
    Similarity Rank: 266
    Piscataqua Savings Bank
    Similarity Rank: 310
    Collinsville Bank
    Similarity Rank: 490
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    U S WIDE FINANCIAL LLC
    Similarity Rank: 608

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,183 $316,545,000 $267,578 $3,741 3.17%
    FHA 346 $89,600,000 $258,960 $8,748 3.40%
    VA 41 $12,985,000 $316,707 $6,830 3.02%
    USDA 5 $1,385,000 $277,000 $6,257 3.38%

    For 2020, Province Mortgage Associates's most frequently originated type of loan was Conventional, with 1,183 originations. Their 2nd most popular type was FHA, with 346 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 833 $216,715,000 $260,162 $3,749 3.15%
    Home Purchase 742 $203,800,000 $274,663 $6,255 3.29%

    For 2020, Province Mortgage Associates's most frequently cited loan purpose was Refi, with 833 originations. The 2nd most popular reason was Home Purchase, with 742 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,244 $338,220,000 $271,881 $5,347 3.28%
    Other 113 $31,295,000 $276,947 $3,453 3.07%
    15 Year 106 $23,520,000 $221,887 $3,254 2.72%
    20 Year 106 $26,530,000 $250,283 $3,411 3.14%
    10 Year 6 $950,000 $158,333 $3,097 2.98%

    For 2020, Province Mortgage Associates's most frequently cited loan duration was 30 Year, with 1,244 originations. The 2nd most popular length was Other, with 113 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,318 $351,750,000 $266,882
    $2k-3k 149 $38,005,000 $255,067
    $3k-4k 56 $14,980,000 $267,500
    $5k+ 22 $7,450,000 $338,636
    $<1k 15 $4,275,000 $285,000
    $4k-5k 15 $4,055,000 $270,333

    Province Mortgage Associates's average total fees were $5,347, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,318 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 813 $216,615,000 $266,439
    2.5-3% 630 $171,820,000 $272,730
    4-5% 68 $16,380,000 $240,882
    <2.5% 63 $15,595,000 $247,540
    5-6% 1 $105,000 $105,000

    During 2020, Province Mortgage Associates's average interest rate for loans was 3.28%, while their most frequently originated rate bucket for loans was 3-4%, with 813 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,095 $304,415,000 $278,005 $5,262 3.23%
    $100k-200k 331 $54,665,000 $165,151 $3,972 3.21%
    $400k-600k 129 $59,135,000 $458,411 $4,816 3.09%
    $100,000 or less 19 $1,695,000 $89,211 $3,342 3.22%
    $600k-1MM 1 $605,000 $605,000 $4,008 3.75%

    2020 saw Province Mortgage Associates place emphasis on $200k-400k loans with 1,095 originations, totaling $304,415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 430 $102,210,000 $237,698 $5,425 3.29%
    $100k-150k 390 $116,130,000 $297,769 $4,469 3.15%
    $75k-100k 340 $90,200,000 $265,294 $4,926 3.21%
    $50k or less 202 $40,920,000 $202,574 $5,710 3.30%
    $150k-250k 176 $57,740,000 $328,068 $3,983 3.08%
    $250k+ 37 $13,315,000 $359,865 $4,361 3.15%

    Province Mortgage Associates lent most frequently to those with incomes in the $50k-75k range, with 430 originations. The second most popular income band? $100k-150k, with 390 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 317 $82,025,000 $258,754 $3,807 3.12%
    30-36% 276 $76,500,000 $277,174 $4,241 3.19%
    50-60% 94 $24,800,000 $263,830 $8,619 3.57%
    <20% 78 $18,930,000 $242,692 $3,759 2.98%
    44% 76 $20,820,000 $273,947 $4,927 3.30%
    40% 64 $17,650,000 $275,781 $4,789 3.18%
    42% 60 $15,910,000 $265,167 $4,954 3.18%
    49% 60 $15,830,000 $263,833 $6,865 3.25%
    43% 58 $15,070,000 $259,828 $5,387 3.22%
    41% 57 $15,565,000 $273,070 $4,526 3.26%
    39% 56 $14,760,000 $263,571 $4,504 3.18%
    47% 56 $14,600,000 $260,714 $6,179 3.39%
    37% 55 $14,355,000 $261,000 $4,788 3.10%
    36% 54 $15,090,000 $279,444 $4,907 3.22%
    46% 49 $13,505,000 $275,612 $5,486 3.33%
    45% 48 $13,000,000 $270,833 $5,681 3.37%
    48% 46 $11,710,000 $254,565 $5,927 3.26%
    38% 44 $12,730,000 $289,318 $5,122 3.13%
    >60% 2 $550,000 $275,000 $5,453 3.69%

    Province Mortgage Associates lent most frequently to those with DTI ratios of 20-30%, with 317 originations. The next most common DTI ratio? 30-36%, with 276 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,472 $391,770,000 $266,148 $4,842 3.21%
    Black 67 $18,405,000 $274,701 $6,491 3.24%
    Asian 27 $7,675,000 $284,259 $5,522 3.15%
    Not provided 4 $1,300,000 $325,000 $7,763 3.13%
    American Indian 2 $540,000 $270,000 $4,114 3.25%
    Native Hawaiian or Islander 1 $295,000 $295,000 $9,177 3.88%
    Native Hawaiian 1 $265,000 $265,000 $3,989 3.38%
    Other Asian 1 $265,000 $265,000 $3,028 3.13%

    Approval Rates

    Total approvals of all applications
    94.18%

    Province Mortgage Associates has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.67%

    Province Mortgage Associates has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,575 $420,515,000 $266,994

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,575 $420,515,000 $266,994

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $5,050,000 $180,357 $3,626 2.96%
    40-60% 140 $29,480,000 $210,571 $3,276 2.98%
    60-80% 613 $165,515,000 $270,008 $3,779 3.19%
    80-100% 788 $218,360,000 $277,107 $6,106 3.29%
    Over 100% 6 $2,110,000 $351,667 $12,572 3.13%