Millville Savings Bank Mortgage Rates, Fees & Info

Millville, NJ

LEI: 5493008Z9PO9T4H9CM50

Tax ID: 21-0515339

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Millville Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Millville Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Vineland, Ocean City, Philadelphia, and Atlantic City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Millville Savings Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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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    Originations

    37

    Origination Dollar Volume (All Markets)

    $5,305,000

    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
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 28 $2,740,000 $97,857 $0 0.00%
    OCEAN CITY, NJ (FHA|USDA|VA) 3 $1,265,000 $421,667 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $1,135,000 $227,000 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Millville Savings Bank's top markets include Vineland, Ocean City, Philadelphia, and Atlantic City among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $5,305,000 $143,378 $0 0.00%

    For 2023, Millville Savings Bank's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 15 $675,000 $45,000 $0 0.00%
    Home Purchase 11 $3,335,000 $303,182 $0 0.00%
    Refi 7 $1,145,000 $163,571 $0 0.00%
    Other 4 $150,000 $37,500 $0 0.00%

    For 2023, Millville Savings Bank's most frequently cited loan purpose was Home Improvement, with 15 originations. The 2nd most popular reason was Home Purchase, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 37 $5,305,000 $143,378 $0 0.00%

    For 2023, Millville Savings Bank's most frequently cited loan duration was Other, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $705,000 $37,105 $0 0.00%
    $100k-200k 8 $1,150,000 $143,750 $0 0.00%
    $200k-400k 8 $2,210,000 $276,250 $0 0.00%
    $400k-600k 1 $555,000 $555,000 $0 0.00%
    $600k-1MM 1 $685,000 $685,000 $0 0.00%

    2023 saw Millville Savings Bank place emphasis on $100,000 or less loans with 19 originations, totaling $705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $1,255,000 $96,538 $0 0.00%
    $150k-250k 7 $1,295,000 $185,000 $0 0.00%
    $250k+ 4 $1,420,000 $355,000 $0 0.00%
    $50k-75k 4 $190,000 $47,500 $0 0.00%
    $75k-100k 4 $470,000 $117,500 $0 0.00%
    $50k or less 2 $130,000 $65,000 $0 0.00%

    Millville Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 37 $5,305,000 $143,378 $0 0.00%

    Millville Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 34 $4,750,000 $139,706 $0 0.00%
    Not applicable 2 $520,000 $260,000 $0 0.00%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.00%

    Millville Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    97.30%

    Millville Savings Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 37 $5,305,000 $143,378

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    37 $5,305,000 $143,378