Enterprise Bank And Trust Company Mortgage Rates, Fees & Info

Lowell, MA

LEI: 5493008ZK5SW6NTWB533

Tax ID: 04-2993547

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

Review & Overview

Enterprise Bank And Trust Company is a smaller bank specializing in Home Purchase loans. Enterprise Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Worcester, Laconia, and Portland among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

Enterprise Bank And Trust Company 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. Enterprise Bank And Trust Company is typically a low 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.00%	4/18/24
30 Year Conventional Refi	6.03%	4/18/24
30 Year Cash-out Refi	6.03%	4/18/24
15 Year Conventional Purchase	5.25%	4/18/24
15 Year Conventional Refi	5.64%	4/18/24
15 Year Cash-out Refi	5.64%	4/18/24
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.

Enterprise Bank And Trust Company Mortgage Calculator

Purchase Price:

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% Deposit:

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This is not an official calculator from Enterprise Bank And Trust Company. 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

484

Origination Dollar Volume (All Markets)

$222,920,000

Employee count

509

Awards

Enterprise Bank and Trust Company 30 Year Conventional Loans silver

Enterprise Bank and Trust Company 30 Year Conventional Loans gold

Show all (3) 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
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	360	$181,900,000	$505,278	$3,636	5.18%
MANCHESTER-NASHUA, NH (FHA\|USDA\|VA)	63	$17,535,000	$278,333	$3,491	5.01%
WORCESTER, MA-CT (FHA\|USDA\|VA)	24	$6,680,000	$278,333	$3,492	5.26%
Laconia, NH (FHA\|USDA\|VA)	6	$5,310,000	$885,000	$4,737	4.20%
PORTLAND-SOUTH PORTLAND, ME (FHA\|USDA\|VA)	5	$3,295,000	$659,000	$3,560	3.40%
Concord, NH (FHA\|USDA\|VA)	6	$2,870,000	$478,333	$3,243	5.88%
Vineyard Haven, MA (FHA\|USDA\|VA)	1	$1,615,000	$1,615,000	$5,679	3.50%
Lebanon, NH-VT (FHA\|USDA\|VA)	5	$1,375,000	$275,000	$2,841	5.40%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	4	$1,030,000	$257,500	$2,534	4.47%
Keene, NH (FHA\|USDA\|VA)	2	$320,000	$160,000	$0	6.38%
Outside of Metro Areas	3	$305,000	$101,667	$2,462	5.29%
PROVIDENCE-WARWICK, RI-MA (FHA\|USDA\|VA)	1	$245,000	$245,000	$0	4.63%
SPRINGFIELD, MA (FHA\|USDA\|VA)	3	$225,000	$75,000	$0	6.58%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	4.95%

Enterprise Bank And Trust Company's top markets include Boston, Manchester, Worcester, Laconia, and Portland among others.

Their top states include:

Massachusetts (FHA|USDA|VA)

New Hampshire (FHA|USDA|VA)

Maine (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Enterprise Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Charter Oak Federal Credit Union
Similarity Rank: 18

MERRIMACK VALLEY
Similarity Rank: 110

Middlesex Federal Savings, F.A.
Similarity Rank: 111

Members First Credit Union N.H.
Similarity Rank: 119

First Ipswich Bank
Similarity Rank: 164

SOUTHBRIDGE CREDIT UNION
Similarity Rank: 170

Coastal Heritage Bank
Similarity Rank: 180

Middlesex Savings Bank
Similarity Rank: 230

Merrimack County Savings Bank
Similarity Rank: 280

Chelsea Groton Bank
Similarity Rank: 304

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	484	$222,920,000	$460,579	$3,604	5.14%

For 2018, Enterprise Bank And Trust Company's most frequently originated type of loan was Conventional, with 484 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	342	$151,860,000	$444,035	$4,047	5.35%
Refi	52	$40,490,000	$778,654	$3,110	4.85%
Cash Out Refi	50	$18,230,000	$364,600	$3,012	3.94%
Home Improvement	32	$9,330,000	$291,563	$2,807	5.64%
Other	8	$3,010,000	$376,250	$3,050	3.84%

For 2018, Enterprise Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 342 originations. The 2nd most popular reason was Refi, with 52 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	153	$65,995,000	$431,340	$3,689	4.06%
1 Year	116	$44,560,000	$384,138	$0	6.21%
10 Year	95	$45,875,000	$482,895	$0	5.48%
Other	60	$44,010,000	$733,500	$0	6.01%
15 Year	34	$12,320,000	$362,353	$3,210	3.75%
5 Year	20	$8,340,000	$417,000	$0	5.50%
20 Year	5	$1,435,000	$287,000	$2,832	4.82%
30+ year	1	$385,000	$385,000	$6,644	4.38%

For 2018, Enterprise Bank And Trust Company's most frequently cited loan duration was 30 Year, with 153 originations. The 2nd most popular length was 1 Year, with 116 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	170	$70,390,000	$414,059
$3k-4k	8	$3,050,000	$381,250
$4k-5k	6	$2,840,000	$473,333
$1k-2k	5	$1,245,000	$249,000
$5k+	2	$1,650,000	$825,000

Enterprise Bank And Trust Company's average total fees were $3,689, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 170 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	193	$92,895,000	$481,321
3-4%	114	$54,010,000	$473,772
6-7%	94	$35,360,000	$376,170
4-5%	76	$37,510,000	$493,553
2.5-3%	5	$2,715,000	$543,000
7-8%	2	$430,000	$215,000

During 2018, Enterprise Bank And Trust Company's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 5-6%, with 193 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	197	$54,105,000	$274,645	$3,155	5.22%
$100k-200k	90	$13,890,000	$154,333	$2,714	5.27%
$400k-600k	73	$35,255,000	$482,945	$4,642	4.93%
$600k-1MM	73	$55,325,000	$757,877	$3,923	4.90%
$1MM+	28	$62,530,000	$2,233,214	$6,550	5.11%
$100,000 or less	23	$1,815,000	$78,913	$2,570	5.49%

2018 saw Enterprise Bank And Trust Company place emphasis on $200k-400k loans with 197 originations, totaling $54,105,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	59	$24,645,000	$417,712	$3,822	4.08%
$250k+	45	$32,525,000	$722,778	$4,178	3.91%
$100k-150k	43	$13,115,000	$305,000	$3,358	4.38%
$50k-75k	28	$6,340,000	$226,429	$3,018	4.49%
$75k-100k	24	$6,700,000	$279,167	$3,512	4.34%
$50k or less	23	$4,415,000	$191,957	$2,698	5.01%

Enterprise Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 59 originations. The second most popular income band? $250k+, with 45 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	40	$13,370,000	$334,250	$3,241	4.01%
30-36%	31	$12,495,000	$403,065	$3,385	3.84%
<20%	14	$9,150,000	$653,571	$3,840	3.78%
41%	11	$5,945,000	$540,455	$3,960	4.30%
44%	11	$3,355,000	$305,000	$3,380	4.20%
38%	10	$3,350,000	$335,000	$3,485	4.15%
45%	9	$5,975,000	$663,889	$4,958	3.89%
>60%	8	$2,540,000	$317,500	$4,171	4.19%
36%	7	$2,775,000	$396,429	$3,288	3.73%
47%	7	$2,385,000	$340,714	$3,192	4.25%
39%	6	$1,900,000	$316,667	$3,510	4.15%
40%	6	$3,430,000	$571,667	$3,630	3.81%
43%	6	$2,470,000	$411,667	$4,233	4.15%
50-60%	6	$1,900,000	$316,667	$3,498	3.94%
37%	5	$1,235,000	$247,000	$3,429	4.42%
42%	5	$2,675,000	$535,000	$3,546	3.48%
48%	3	$1,095,000	$365,000	$5,225	4.71%
49%	3	$1,915,000	$638,333	$3,793	3.63%
46%	3	$1,215,000	$405,000	$3,320	4.29%

Enterprise Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 31 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	233	$125,875,000	$540,236	$0	5.84%
White	175	$67,005,000	$382,886	$3,602	4.39%
Not provided	59	$22,045,000	$373,644	$3,659	4.92%
Asian	12	$6,130,000	$510,833	$3,521	3.97%
Black	1	$885,000	$885,000	$4,434	3.63%
American Indian	2	$630,000	$315,000	$2,872	5.06%
Vietnamese	1	$225,000	$225,000	$0	5.50%
Other Asian	1	$125,000	$125,000	$2,949	4.25%

Approval Rates

Total approvals of all applications
93.34%

Enterprise Bank And Trust Company has an average approval rate.

Pick Rate

Approvals leading to origination
74.59%

Enterprise Bank And Trust Company has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	484	$222,920,000	$460,579

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	42	$36,770,000	$875,476
Single Family (1-4 Units):Site-Built	442	$186,150,000	$421,154

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	42	$13,580,000	$323,333	$3,013	4.77%
40-60%	95	$35,835,000	$377,211	$3,244	5.15%
60-80%	297	$155,205,000	$522,576	$3,970	5.32%
80-100%	42	$16,500,000	$392,857	$3,401	4.27%
Under 20%	8	$1,800,000	$225,000	$2,551	5.12%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Enterprise Bank and Trust Company	1120 Main Street Tewksbury, MA 1876	Full Service B&M	$80,125
Enterprise Bank and Trust Company	1168 Lakeview Avenue Dracut, MA 1826	Full Service B&M	$110,808
Enterprise Bank and Trust Company	13-15 Indian Rock Road Windham, NH 3087	Full Service B&M	$12,242
Enterprise Bank and Trust Company	139 Bridge Street Pelham, NH 3076	Full Service B&M	$60,602
Enterprise Bank and Trust Company	185 Littleton Road Chelmsford, MA 1824	Full Service B&M	$170,060
Enterprise Bank and Trust Company	20 Drum Hill Road Chelmsford, MA 1824	Full Service B&M	$143,783
Enterprise Bank and Trust Company	222 Merrimack Street Lowell, MA 1852	Full Service B&M	$641,106
Enterprise Bank and Trust Company	233 Boston Road North Billerica, MA 1862	Full Service B&M	$89,169
Enterprise Bank and Trust Company	237 Littleton Road Westford, MA 1886	Full Service B&M	$127,460
Enterprise Bank and Trust Company	253 Middlesex Road Tyngsboro, MA 1879	Full Service B&M	$37,902
Enterprise Bank and Trust Company	255 Broadway Methuen, MA 1844	Full Service B&M	$84,180
Enterprise Bank and Trust Company	290 Merrimack Street Lawrence, MA 1843	Full Service B&M	$80,145
Enterprise Bank and Trust Company	340 Great Road Acton, MA 1720	Full Service B&M	$64,752
Enterprise Bank and Trust Company	420 John Fitch Highway Fitchburg, MA 1420	Full Service B&M	$90,531
Enterprise Bank and Trust Company	430 Gorham Street Lowell, MA 1852	Full Service B&M	$40,687
Enterprise Bank and Trust Company	45 Lowell Road Hudson, NH 3051	Full Service B&M	$38,288
Enterprise Bank and Trust Company	47 Crystal Avenue Derry, NH 3038	Full Service B&M	$68,600
Enterprise Bank and Trust Company	493 Amherst St Nashua, NH 3063	Full Service B&M	$19,131
Enterprise Bank and Trust Company	55 Main Street Salem, NH 3079	Full Service B&M	$173,703
Enterprise Bank and Trust Company	65 Main Street Leominster, MA 1453	Full Service B&M	$110,960
Enterprise Bank and Trust Company	674 Boston Road Billerica, MA 1821	Full Service B&M	$108,675
Enterprise Bank and Trust Company	8 High Street Andover, MA 1810	Full Service B&M	$173,379
Enterprise Bank and Trust Company	86-88 Main Street Nashua, NH 3060	Full Service B&M	$49,168
Enterprise Bank and Trust Company	910 Andover Street Tewksbury, MA 1876	Full Service B&M	$85,134

For 2018, Enterprise Bank And Trust Company had 24 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$123,121
Net interest income	$109,978
Total noninterest income	$15,070
Gross Fiduciary activities income	$4,466
Service charges on deposit accounts	$4,282
Trading account gains and fees	$0
Additional Noninterest Income	$6,322
Pre-tax net operating income	$41,991
Securities gains (or losses, -)	$-3,153
Income before extraordinary items	$29,735
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$29,735
Minority interest net income	$0
Net income	$29,735
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$32,225

Enterprise Bank And Trust Company's gross interest income from loans was $123,121,000.
Enterprise Bank And Trust Company's net interest income from loans was $109,978,000.
Enterprise Bank And Trust Company's fee based income from loans was $4,282,000.
Enterprise Bank And Trust Company's net income from loans was $29,735,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$13,143
Provision for credit losses	$2,250
Total noninterest expense	$80,807
Salaries and employee benefits	$51,257
Premises and equipment expense	$10,463
Additional noninterest expense	$19,087
Applicable income taxes	$9,103
Net charge-offs	$1,317
Cash dividends	$4,100

Enterprise Bank And Trust Company's interest expense for loans was $13,143,000.
Enterprise Bank And Trust Company's payroll and benefits expense were $51,257,000.
Enterprise Bank And Trust Company's property, plant and equipment expenses $10,463,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$2,564,906
Deposits held in domestic offices	$2,564,906
Deposits by Individuals, partnerships, and corporations	$2,363,835
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$192,588
Deposits by Commercial banks and other depository institutions in U.S.	$8,483
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$383,856
Demand deposits	$270,771
Nontransaction accounts	$2,181,050
Money market deposit accounts (MMDAs)	$1,646,823
Other savings deposits (excluding MMDAs)	$193,214
Total time deposits	$341,014
Total time and savings deposits	$2,294,135
Noninterest-bearing deposits	$765,153
Interest-bearing deposits	$1,799,753
Retail deposits	$2,439,092
IRAs and Keogh plan accounts	$41,829
Brokered deposits	$56,783
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,964,358
Cash & Balances due from depository institutions	$64,064
Interest-bearing balances	$21,197
Total securities	$431,977
Federal funds sold & reverse repurchase	$0
Net loans and leases	$2,354,358
Loan and leases loss allowance	$33,849
Trading account assets	$0
Bank premises and fixed assets	$37,158
Other real estate owned	$0
Goodwill and other intangibles	$5,656
All other assets	$71,145

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,964,358
Total Liabilities	$2,694,441
Total deposits	$2,564,906
Interest-bearing deposits	$1,799,753
Deposits held in domestic offices	$2,564,906
% insured (estimated)	$67
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$100,492
Subordinated debt	$0
All other liabilities	$29,043

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$2,354,358
Loan and leases loss allowance	$33,849
Total loans and leases (domestic)	$2,388,207
All real estate loans	$1,866,225
Real estate loans in domestic offices	$1,866,225
Construction and development loans	$239,203
Residential 1-4 family construction	$115,298
Other construction, all land development and other land	$123,905
Loans secured by nonfarm nonresidential properties	$927,906
Nonfarm nonresidential secured by owner-occupied properties	$585,370
Commercial real estate & other non-farm, non-residential	$342,536
Multifamily residential real estate	$194,739
1-4 family residential loans	$504,377
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$245
Commercial and industrial loans	$447,821
To non-U.S. addressees	$0
Loans to individuals	$10,235
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$460
Other loans to individuals	$9,775
All other loans & leases	$63,681
Loans to foreign governments and official institutions	$0
Other loans	$0
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$17,040
Non 1-4 family restructured loans & leases	$16,659
Total loans and leases (foreign)	$0

Enterprise Bank and Trust Company had $2,354,358,000 of loans outstanding in 2018. $1,866,225,000 of loans were in real estate loans. $239,203,000 of loans were in development loans. $194,739,000 of loans were in multifamily mortgage loans. $504,377,000 of loans were in 1-4 family mortgage loans. $245,000 of loans were in farm loans. $0 of loans were in credit card loans. $460,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	1,500	$415,940	$277,293
Nonfarm, nonresidential loans - <$100k	146	$8,656	$59,288
Nonfarm, nonresidential loans - $100-250k	526	$72,436	$137,711
Nonfarm, nonresidential loans - $250k-1MM	828	$334,848	$404,406
Commercial & Industrial, US addressed loans - <$1MM	2,884	$253,363	$87,851
Commercial & Industrial, US addressed loans - <$100k	1,969	$63,119	$32,056
Commercial & Industrial, US addressed loans - $100-250k	515	$61,866	$120,128
Commercial & Industrial, US addressed loans - $250k-1MM	400	$128,378	$320,945
Agriculture operations loans - <$1MM	1	$245	$245,000
Agriculture operations loans - $100-250k	1	$245	$245,000