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

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  • 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 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, New Haven, Hartford, Worcester, and Boston among others. We have data for 21 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.

    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

    478

    Origination Dollar Volume (All Markets)

    $145,340,000

    Awards

    PROVINCE MORTGAGE ASSOCIATES FHA Loans silver PROVINCE MORTGAGE ASSOCIATES FHA Loans silver
    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) 278 $86,610,000 $311,547 $7,277 5.08%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 62 $16,760,000 $270,323 $7,234 5.51%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 59 $15,765,000 $267,203 $6,583 5.32%
    WORCESTER, MA-CT (FHA|USDA|VA) 25 $7,035,000 $281,400 $6,693 5.56%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 15 $6,405,000 $427,000 $8,265 5.33%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 9 $2,655,000 $295,000 $5,015 4.36%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 8 $2,230,000 $278,750 $6,576 5.13%
    Torrington, CT (FHA|USDA|VA) 6 $1,680,000 $280,000 $6,421 4.88%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $775,000 $258,333 $7,956 4.88%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $645,000 $645,000 $7,645 3.88%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $615,000 $615,000 $6,499 5.00%
    Keene, NH (FHA|USDA|VA) 1 $525,000 $525,000 $14,895 4.88%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $525,000 $525,000 $4,896 4.63%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $500,000 $250,000 $7,052 5.94%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $495,000 $495,000 $5,917 4.00%
    Key West, FL (FHA|USDA|VA) 1 $455,000 $455,000 $4,860 4.38%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $405,000 $405,000 $6,210 5.38%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $395,000 $395,000 $5,713 5.63%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $395,000 $395,000 $10,154 5.13%
    Berlin, NH (FHA|USDA|VA) 1 $325,000 $325,000 $10,637 7.13%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $145,000 $145,000 $5,882 4.38%
    Province Mortgage Associates's top markets include Providence, New Haven, Hartford, Worcester, and Boston among others.

    Their top states include:
  • Rhode Island (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Hampshire (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: 8
    Rhode Island Credit Union
    Similarity Rank: 15
    SOMERSET
    Similarity Rank: 21
    QUINCY CREDIT UNION
    Similarity Rank: 50
    HOMEFIELD
    Similarity Rank: 72
    Freedom Credit Union
    Similarity Rank: 102
    SCIENT Federal Credit Union
    Similarity Rank: 104
    Direct Federal Credit Union
    Similarity Rank: 115
    Charter Oak Federal Credit Union
    Similarity Rank: 119
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 129

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 340 $102,790,000 $302,324 $5,792 5.22%
    FHA 116 $35,800,000 $308,621 $10,952 5.05%
    VA 18 $5,700,000 $316,667 $7,925 5.24%
    USDA 4 $1,050,000 $262,500 $6,704 5.19%

    For 2022, Province Mortgage Associates's most frequently originated type of loan was Conventional, with 340 originations. Their 2nd most popular type was FHA, with 116 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 394 $122,140,000 $310,000 $7,337 5.25%
    Cash Out Refi 54 $15,100,000 $279,630 $6,622 5.09%
    Refi 29 $7,905,000 $272,586 $5,342 4.41%
    Home Improvement 1 $195,000 $195,000 $7,607 6.13%

    For 2022, Province Mortgage Associates's most frequently cited loan purpose was Home Purchase, with 394 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 460 $140,210,000 $304,804 $7,185 5.22%
    15 Year 12 $3,320,000 $276,667 $6,101 4.21%
    20 Year 4 $1,200,000 $300,000 $5,485 4.09%
    Other 2 $610,000 $305,000 $5,185 3.13%

    For 2022, Province Mortgage Associates's most frequently cited loan duration was 30 Year, with 460 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 224 $67,770,000 $302,545
    $5k+ 72 $24,360,000 $338,333
    $2k-3k 67 $18,215,000 $271,866
    $3k-4k 52 $15,340,000 $295,000
    $4k-5k 49 $15,815,000 $322,755
    $<1k 13 $3,415,000 $262,692

    Province Mortgage Associates's average total fees were $7,185, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 224 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 187 $57,895,000 $309,599
    4-5% 98 $30,450,000 $310,714
    3-4% 88 $26,730,000 $303,750
    6-7% 82 $23,300,000 $284,146
    7-8% 14 $4,440,000 $317,143
    2.5-3% 9 $2,525,000 $280,556

    During 2022, Province Mortgage Associates's average interest rate for loans was 5.22%, while their most frequently originated rate bucket for loans was 5-6%, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 325 $94,985,000 $292,262 $7,463 5.16%
    $100k-200k 68 $10,850,000 $159,559 $4,786 5.20%
    $400k-600k 68 $31,900,000 $469,118 $7,929 5.34%
    $600k-1MM 11 $7,095,000 $645,000 $8,834 4.75%
    $100,000 or less 6 $510,000 $85,000 $4,049 5.15%

    2022 saw Province Mortgage Associates place emphasis on $200k-400k loans with 325 originations, totaling $94,985,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 131 $32,885,000 $251,031 $7,292 4.96%
    $100k-150k 128 $43,520,000 $340,000 $7,271 5.26%
    $75k-100k 106 $30,660,000 $289,245 $7,528 5.26%
    $150k-250k 61 $23,645,000 $387,623 $6,768 5.47%
    $50k or less 30 $5,090,000 $169,667 $5,100 4.94%
    $250k+ 19 $8,855,000 $466,053 $7,431 4.98%

    Province Mortgage Associates lent most frequently to those with incomes in the $50k-75k range, with 131 originations. The second most popular income band? $100k-150k, with 128 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 75 $22,705,000 $302,733 $5,851 5.25%
    20-30% 62 $18,400,000 $296,774 $6,078 5.10%
    50-60% 47 $14,565,000 $309,894 $10,876 5.14%
    43% 28 $9,730,000 $347,500 $6,605 4.97%
    49% 24 $7,050,000 $293,750 $7,968 5.38%
    44% 23 $6,985,000 $303,696 $6,983 5.14%
    42% 23 $7,045,000 $306,304 $6,415 5.05%
    47% 22 $6,990,000 $317,727 $8,916 5.00%
    45% 22 $6,010,000 $273,182 $6,517 5.05%
    48% 22 $6,320,000 $287,273 $8,021 5.58%
    41% 20 $5,760,000 $288,000 $6,981 4.89%
    <20% 19 $5,455,000 $287,105 $5,149 4.85%
    39% 19 $5,745,000 $302,368 $7,835 5.23%
    46% 18 $5,810,000 $322,778 $7,442 5.15%
    38% 17 $5,215,000 $306,765 $7,237 5.52%
    36% 14 $4,230,000 $302,143 $6,875 5.67%
    40% 11 $3,405,000 $309,545 $6,336 5.50%
    37% 11 $3,625,000 $329,545 $6,283 5.24%
    >60% 1 $295,000 $295,000 $4,919 3.75%

    Province Mortgage Associates lent most frequently to those with DTI ratios of 30-36%, with 75 originations. The next most common DTI ratio? 20-30%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 395 $119,975,000 $303,734 $6,922 5.20%
    Black 34 $10,200,000 $300,000 $9,016 5.14%
    Not provided 33 $9,485,000 $287,424 $6,925 5.00%
    Asian 12 $4,350,000 $362,500 $7,666 4.82%
    American Indian 2 $580,000 $290,000 $13,642 6.19%
    Other Asian 1 $425,000 $425,000 $12,179 5.13%
    Asian Indian 1 $325,000 $325,000 $9,785 5.00%

    Approval Rates

    Total approvals of all applications
    94.04%

    Province Mortgage Associates has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.87%

    Province Mortgage Associates has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 478 $145,340,000 $304,059

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    478 $145,340,000 $304,059

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,640,000 $136,667 $4,146 5.29%
    40-60% 44 $10,920,000 $248,182 $4,865 4.96%
    60-80% 135 $41,475,000 $307,222 $6,432 5.16%
    80-100% 283 $90,195,000 $318,710 $7,899 5.21%
    Over 100% 3 $1,005,000 $335,000 $13,173 5.50%
    Under 20% 1 $105,000 $105,000 $3,095 6.25%