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

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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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Enterprise Bank And Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Enterprise Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Worcester, Portland, and Laconia among others. We have data for 12 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.00% 12/23/24
    30 Year Conventional Refi 6.03% 12/23/24
    30 Year Cash-out Refi 6.03% 12/23/24
    15 Year Conventional Purchase 5.25% 12/23/24
    15 Year Conventional Refi 5.64% 12/23/24
    15 Year Cash-out Refi 5.64% 12/23/24
    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






    Your Estimates

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

    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

    586

    Origination Dollar Volume (All Markets)

    $377,370,000

    Employee count

    527

    Awards

    Enterprise Bank and Trust Company 30 Year Conventional Loans bronze
    Show all (1) 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) 426 $283,040,000 $664,413 $3,258 3.66%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 76 $53,460,000 $703,421 $3,049 3.36%
    WORCESTER, MA-CT (FHA|USDA|VA) 29 $13,475,000 $464,655 $2,989 3.57%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 11 $9,525,000 $865,909 $4,997 3.34%
    Outside of Metro Areas 7 $3,765,000 $537,857 $3,173 3.41%
    Laconia, NH (FHA|USDA|VA) 10 $3,230,000 $323,000 $4,027 3.59%
    Concord, NH (FHA|USDA|VA) 8 $2,730,000 $341,250 $4,568 3.95%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $2,470,000 $411,667 $2,584 3.58%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $2,240,000 $373,333 $3,463 3.43%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $1,585,000 $1,585,000 $4,250 3.13%
    Keene, NH (FHA|USDA|VA) 3 $1,115,000 $371,667 $0 5.75%
    Lebanon, NH-VT (FHA|USDA|VA) 3 $735,000 $245,000 $2,708 3.29%
    Enterprise Bank And Trust Company's top markets include Boston, Manchester, Worcester, Portland, and Laconia among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • Rhode Island (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.

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    Similarity Rank: 876

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 586 $377,370,000 $643,976 $3,288 3.61%

    For 2020, Enterprise Bank And Trust Company's most frequently originated type of loan was Conventional, with 586 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 246 $181,230,000 $736,707 $4,210 4.11%
    Refi 178 $130,870,000 $735,225 $2,735 3.19%
    Cash Out Refi 126 $49,430,000 $392,302 $3,176 3.13%
    Home Improvement 27 $11,985,000 $443,889 $3,460 4.29%
    Other 9 $3,855,000 $428,333 $3,009 2.92%

    For 2020, Enterprise Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 246 originations. The 2nd most popular reason was Refi, with 178 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 277 $108,875,000 $393,051 $3,453 3.19%
    10 Year 81 $112,325,000 $1,386,728 $2,210 3.89%
    1 Year 71 $43,705,000 $615,563 $0 4.97%
    15 Year 67 $21,685,000 $323,657 $2,829 2.69%
    Other 55 $49,845,000 $906,273 $0 4.82%
    20 Year 22 $18,240,000 $829,091 $2,686 3.01%
    5 Year 12 $7,690,000 $640,833 $0 4.22%
    3 Year 1 $15,005,000 $15,005,000 $0 4.50%

    For 2020, Enterprise Bank And Trust Company's most frequently cited loan duration was 30 Year, with 277 originations. The 2nd most popular length was 10 Year, with 81 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 316 $116,020,000 $367,152
    $1k-2k 25 $7,175,000 $287,000
    $3k-4k 11 $5,165,000 $469,545
    $2k-3k 8 $2,970,000 $371,250
    $4k-5k 3 $2,255,000 $751,667
    $5k+ 3 $2,835,000 $945,000

    Enterprise Bank And Trust Company's average total fees were $3,453, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 316 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 243 $182,455,000 $750,844
    2.5-3% 140 $62,070,000 $443,357
    4-5% 128 $99,840,000 $780,000
    5-6% 37 $22,675,000 $612,838
    <2.5% 35 $9,365,000 $267,571
    6-7% 3 $965,000 $321,667

    During 2020, Enterprise Bank And Trust Company's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 3-4%, with 243 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 249 $71,365,000 $286,606 $2,834 3.56%
    $400k-600k 109 $51,905,000 $476,193 $4,005 3.42%
    $100k-200k 90 $14,050,000 $156,111 $2,634 3.44%
    $1MM+ 74 $197,600,000 $2,670,270 $5,371 3.95%
    $600k-1MM 53 $41,715,000 $787,075 $5,239 4.12%
    $100,000 or less 11 $735,000 $66,818 $2,159 3.38%

    2020 saw Enterprise Bank And Trust Company place emphasis on $200k-400k loans with 249 originations, totaling $71,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 88 $31,960,000 $363,182 $3,198 2.99%
    $100k-150k 81 $28,915,000 $356,975 $3,540 3.12%
    $50k-75k 63 $15,455,000 $245,317 $2,681 3.14%
    $250k+ 59 $40,565,000 $687,542 $3,904 3.08%
    $75k-100k 59 $16,765,000 $284,153 $3,100 3.18%
    $50k or less 28 $7,410,000 $264,643 $3,379 3.62%

    Enterprise Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 88 originations. The second most popular income band? $100k-150k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 73 $25,215,000 $345,411 $3,001 3.01%
    30-36% 55 $19,575,000 $355,909 $3,484 3.08%
    <20% 47 $18,315,000 $389,681 $3,259 2.99%
    >60% 16 $9,430,000 $589,375 $4,138 3.40%
    40% 15 $3,935,000 $262,333 $2,572 2.88%
    42% 15 $7,795,000 $519,667 $3,280 2.98%
    41% 15 $4,895,000 $326,333 $3,193 3.15%
    37% 14 $5,780,000 $412,857 $2,864 3.07%
    44% 14 $4,180,000 $298,571 $3,524 3.24%
    45% 12 $5,750,000 $479,167 $3,420 3.03%
    39% 12 $3,330,000 $277,500 $3,991 3.06%
    47% 11 $4,715,000 $428,636 $3,512 3.18%
    46% 11 $5,065,000 $460,455 $3,923 3.22%
    38% 11 $3,065,000 $278,636 $3,261 3.18%
    43% 10 $3,550,000 $355,000 $3,230 3.01%
    49% 10 $3,130,000 $313,000 $3,016 3.09%
    36% 10 $2,980,000 $298,000 $3,179 2.94%
    48% 8 $2,510,000 $313,750 $2,993 3.19%
    50-60% 6 $2,830,000 $471,667 $3,349 3.31%

    Enterprise Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 73 originations. The next most common DTI ratio? 30-36%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 190 $228,600,000 $1,203,158 $0 4.49%
    White 280 $100,600,000 $359,286 $3,150 3.13%
    Not provided 103 $42,815,000 $415,680 $3,612 3.31%
    Asian 8 $4,040,000 $505,000 $4,687 3.70%
    Asian Indian 3 $945,000 $315,000 $2,912 3.07%
    Black 1 $195,000 $195,000 $2,630 4.49%
    American Indian 1 $175,000 $175,000 $2,228 2.75%

    Approval Rates

    Total approvals of all applications
    93.38%

    Enterprise Bank And Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.97%

    Enterprise Bank And Trust Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 586 $377,370,000 $643,976

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 45 $96,105,000 $2,135,667
    Single Family (1-4 Units):Site-Built 541 $281,265,000 $519,898

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $19,130,000 $382,600 $2,834 2.99%
    40-60% 142 $90,660,000 $638,451 $3,185 3.52%
    60-80% 335 $242,585,000 $724,134 $3,349 3.82%
    80-100% 50 $22,840,000 $456,800 $3,832 3.20%
    Under 20% 9 $2,155,000 $239,444 $2,312 3.19%

    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 $130,933
    Enterprise Bank and Trust Company 1168 Lakeview Avenue Dracut, MA 1826 Full Service B&M $136,708
    Enterprise Bank and Trust Company 13-15 Indian Rock Road Windham, NH 3087 Full Service B&M $32,551
    Enterprise Bank and Trust Company 139 Bridge Street, Route 38 Pelham, NH 3076 Full Service B&M $83,607
    Enterprise Bank and Trust Company 185 Littleton Road Chelmsford, MA 1824 Full Service B&M $211,051
    Enterprise Bank and Trust Company 20 Drum Hill Road Chelmsford, MA 1824 Full Service B&M $186,335
    Enterprise Bank and Trust Company 222 Merrimack Street Lowell, MA 1852 Full Service B&M $554,040
    Enterprise Bank and Trust Company 233 Boston Road North Billerica, MA 1862 Full Service B&M $148,574
    Enterprise Bank and Trust Company 237 Littleton Road Westford, MA 1886 Full Service B&M $160,434
    Enterprise Bank and Trust Company 253 Middlesex Road Tyngsboro, MA 1879 Full Service B&M $64,063
    Enterprise Bank and Trust Company 255 Broadway Methuen, MA 1844 Full Service B&M $164,926
    Enterprise Bank and Trust Company 290 Merrimack Street Lawrence, MA 1843 Full Service B&M $160,081
    Enterprise Bank and Trust Company 340 Great Road Acton, MA 1720 Full Service B&M $96,544
    Enterprise Bank and Trust Company 420 John Fitch Highway Fitchburg, MA 1420 Full Service B&M $120,504
    Enterprise Bank and Trust Company 430 Gorham Street Lowell, MA 1852 Full Service B&M $54,738
    Enterprise Bank and Trust Company 45 Lowell Road Hudson, NH 3051 Full Service B&M $81,060
    Enterprise Bank and Trust Company 47 Crystal Avenue Derry, NH 3038 Full Service B&M $107,504
    Enterprise Bank and Trust Company 493 Amherst St Nashua, NH 3063 Full Service B&M $48,598
    Enterprise Bank and Trust Company 55 Main Street Salem, NH 3079 Full Service B&M $338,236
    Enterprise Bank and Trust Company 65 Main Street Leominster, MA 1453 Full Service B&M $149,520
    Enterprise Bank and Trust Company 674 Boston Road Billerica, MA 1821 Full Service B&M $132,401
    Enterprise Bank and Trust Company 76 Bedford Street, Unit #1 Lexington, MA 2420 Full Service B&M $22,572
    Enterprise Bank and Trust Company 8 High Street Andover, MA 1810 Full Service B&M $269,048
    Enterprise Bank and Trust Company 86-88 Main Street Nashua, NH 3060 Full Service B&M $89,880
    Enterprise Bank and Trust Company 910 Andover Street Tewksbury, MA 1876 Full Service B&M $104,556

    For 2020, Enterprise Bank And Trust Company had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $145,240
    Net interest income $133,035
    Total noninterest income $16,705
    Gross Fiduciary activities income $4,579
    Service charges on deposit accounts $3,954
    Trading account gains and fees $0
    Additional Noninterest Income $8,172
    Pre-tax net operating income $44,166
    Securities gains (or losses, -) $179
    Income before extraordinary items $33,409
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $33,409
    Minority interest net income $0
    Net income $33,409
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $33,267

    Enterprise Bank And Trust Company's gross interest income from loans was $145,240,000.
    Enterprise Bank And Trust Company's net interest income from loans was $133,035,000.
    Enterprise Bank And Trust Company's fee based income from loans was $3,954,000.
    Enterprise Bank And Trust Company's net income from loans was $33,409,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,205
    Provision for credit losses $12,499
    Total noninterest expense $93,075
    Salaries and employee benefits $61,580
    Premises and equipment expense $10,917
    Additional noninterest expense $20,578
    Applicable income taxes $10,936
    Net charge-offs $1,548
    Cash dividends $3,100

    Enterprise Bank And Trust Company's interest expense for loans was $12,205,000.
    Enterprise Bank And Trust Company's payroll and benefits expense were $61,580,000.
    Enterprise Bank And Trust Company's property, plant and equipment expenses $10,917,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    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 $3,554,565
    Deposits held in domestic offices $3,554,565
    Deposits by Individuals, partnerships, and corporations $3,293,053
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $256,575
    Deposits by Commercial banks and other depository institutions in U.S. $4,937
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $569,459
    Demand deposits $412,511
    Nontransaction accounts $2,985,106
    Money market deposit accounts (MMDAs) $2,409,044
    Other savings deposits (excluding MMDAs) $256,098
    Total time deposits $319,963
    Total time and savings deposits $3,142,054
    Noninterest-bearing deposits $1,240,859
    Interest-bearing deposits $2,313,706
    Retail deposits $3,411,496
    IRAs and Keogh plan accounts $44,202
    Brokered deposits $74,995
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $4,014,324
    Cash & Balances due from depository institutions $253,782
    Interest-bearing balances $213,369
    Total securities $583,050
    Federal funds sold & reverse repurchase $0
    Net loans and leases $3,029,666
    Loan and leases loss allowance $44,565
    Trading account assets $0
    Bank premises and fixed assets $45,121
    Other real estate owned $0
    Goodwill and other intangibles $5,656
    All other assets $97,049

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $4,014,324
    Total Liabilities $3,608,293
    Total deposits $3,554,565
    Interest-bearing deposits $2,313,706
    Deposits held in domestic offices $3,554,565
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,775
    Subordinated debt $0
    All other liabilities $48,953

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $3,029,666
    Loan and leases loss allowance $44,565
    Total loans and leases (domestic) $3,074,231
    All real estate loans $2,296,800
    Real estate loans in domestic offices $2,296,800
    Construction and development loans $351,447
    Residential 1-4 family construction $189,189
    Other construction, all land development and other land $162,258
    Loans secured by nonfarm nonresidential properties $1,161,600
    Nonfarm nonresidential secured by owner-occupied properties $664,688
    Commercial real estate & other non-farm, non-residential $496,912
    Multifamily residential real estate $271,881
    1-4 family residential loans $511,872
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $712,926
    To non-U.S. addressees $0
    Loans to individuals $8,526
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $167
    Other loans to individuals $8,359
    All other loans & leases $55,979
    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 $8,030
    Non 1-4 family restructured loans & leases $6,711
    Total loans and leases (foreign) $0

    Enterprise Bank and Trust Company had $3,029,666,000 of loans outstanding in 2020. $2,296,800,000 of loans were in real estate loans. $351,447,000 of loans were in development loans. $271,881,000 of loans were in multifamily mortgage loans. $511,872,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $167,000 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 1,549 $423,904 $273,663
    Nonfarm, nonresidential loans - <$100k 174 $9,326 $53,598
    Nonfarm, nonresidential loans - $100-250k 510 $67,877 $133,092
    Nonfarm, nonresidential loans - $250k-1MM 865 $346,701 $400,810
    Commercial & Industrial, US addressed loans - <$1MM 4,867 $464,425 $95,423
    Commercial & Industrial, US addressed loans - <$100k 3,368 $112,481 $33,397
    Commercial & Industrial, US addressed loans - $100-250k 897 $119,728 $133,476
    Commercial & Industrial, US addressed loans - $250k-1MM 602 $232,216 $385,741