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)

    • 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, Worcester, Manchester, Concord, and Providence 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.

    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% 5/4/24
    30 Year Conventional Refi 6.03% 5/4/24
    30 Year Cash-out Refi 6.03% 5/4/24
    15 Year Conventional Purchase 5.25% 5/4/24
    15 Year Conventional Refi 5.64% 5/4/24
    15 Year Cash-out Refi 5.64% 5/4/24
    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

    488

    Origination Dollar Volume (All Markets)

    $544,390,000
    Show all (5) 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) 356 $364,390,000 $1,023,567 $3,718 4.41%
    WORCESTER, MA-CT (FHA|USDA|VA) 25 $68,425,000 $2,737,000 $3,288 4.43%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 67 $49,125,000 $733,209 $3,106 3.84%
    Concord, NH (FHA|USDA|VA) 7 $20,395,000 $2,913,571 $3,223 3.11%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $19,015,000 $6,338,333 $5,101 4.08%
    Outside of Metro Areas 8 $9,340,000 $1,167,500 $5,229 4.61%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $6,040,000 $1,006,667 $4,245 3.73%
    Laconia, NH (FHA|USDA|VA) 6 $2,800,000 $466,667 $0 5.87%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 5 $2,555,000 $511,000 $4,629 4.65%
    Lebanon, NH-VT (FHA|USDA|VA) 3 $1,695,000 $565,000 $8,137 4.58%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $355,000 $355,000 $3,453 5.25%
    Keene, NH (FHA|USDA|VA) 1 $255,000 $255,000 $2,836 2.75%
    Enterprise Bank And Trust Company's top markets include Boston, Worcester, Manchester, Concord, and Providence among others.

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

    Triangle Credit Union
    Similarity Rank: 30
    Charter Oak Federal Credit Union
    Similarity Rank: 42
    QUINCY CREDIT UNION
    Similarity Rank: 50
    HOMEFIELD
    Similarity Rank: 72
    Direct Federal Credit Union
    Similarity Rank: 115
    IC Federal Credit Union
    Similarity Rank: 144
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    ALIGN CREDIT UNION
    Similarity Rank: 200
    Piscataqua Savings Bank
    Similarity Rank: 200
    ATHOL CREDIT UNION
    Similarity Rank: 264

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 488 $544,390,000 $1,115,553 $3,691 4.32%

    For 2022, Enterprise Bank And Trust Company's most frequently originated type of loan was Conventional, with 488 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 274 $381,340,000 $1,391,752 $4,292 4.79%
    Cash Out Refi 97 $39,715,000 $409,433 $3,221 3.13%
    Refi 66 $98,160,000 $1,487,273 $3,319 3.96%
    Home Improvement 35 $16,455,000 $470,143 $3,256 5.10%
    Other 16 $8,720,000 $545,000 $3,541 3.37%

    For 2022, Enterprise Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 274 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 219 $117,795,000 $537,877 $3,741 3.58%
    10 Year 113 $119,295,000 $1,055,708 $3,091 4.75%
    Other 55 $187,475,000 $3,408,636 $0 5.59%
    1 Year 53 $37,695,000 $711,226 $0 5.95%
    15 Year 31 $15,795,000 $509,516 $3,453 2.81%
    5 Year 11 $56,545,000 $5,140,455 $0 5.11%
    20 Year 4 $5,850,000 $1,462,500 $0 3.63%
    3 Year 2 $3,940,000 $1,970,000 $0 3.79%

    For 2022, Enterprise Bank And Trust Company's most frequently cited loan duration was 30 Year, with 219 originations. The 2nd most popular length was 10 Year, with 113 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 245 $112,535,000 $459,327
    $4k-5k 4 $2,260,000 $565,000
    $3k-4k 3 $1,265,000 $421,667
    $5k+ 2 $2,170,000 $1,085,000
    $2k-3k 1 $375,000 $375,000

    Enterprise Bank And Trust Company's average total fees were $3,741, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 245 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 125 $107,035,000 $856,280
    2.5-3% 102 $104,860,000 $1,028,039
    3-4% 97 $160,735,000 $1,657,062
    5-6% 86 $116,700,000 $1,356,977
    6-7% 31 $24,065,000 $776,290
    <2.5% 27 $10,065,000 $372,778
    7-8% 18 $19,230,000 $1,068,333
    Over 8% 2 $1,700,000 $850,000

    During 2022, Enterprise Bank And Trust Company's average interest rate for loans was 3.58%, while their most frequently originated rate bucket for loans was 4-5%, with 125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 174 $51,470,000 $295,805 $3,186 4.14%
    $1MM+ 91 $385,405,000 $4,235,220 $6,535 4.73%
    $400k-600k 89 $43,065,000 $483,876 $3,701 4.39%
    $600k-1MM 75 $56,065,000 $747,533 $4,737 4.34%
    $100k-200k 51 $7,745,000 $151,863 $2,808 4.01%
    $100,000 or less 8 $640,000 $80,000 $2,708 4.79%

    2022 saw Enterprise Bank And Trust Company place emphasis on $200k-400k loans with 174 originations, totaling $51,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 56 $20,470,000 $365,536 $3,572 3.65%
    $250k+ 48 $35,260,000 $734,583 $4,230 3.36%
    $150k-250k 47 $22,485,000 $478,404 $3,820 3.38%
    $75k-100k 36 $10,160,000 $282,222 $3,369 3.55%
    $50k-75k 35 $10,775,000 $307,857 $2,947 3.75%
    $50k or less 19 $3,475,000 $182,895 $2,846 4.07%

    Enterprise Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 56 originations. The second most popular income band? $250k+, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 44 $20,660,000 $469,545 $3,616 3.52%
    30-36% 41 $18,105,000 $441,585 $3,423 3.36%
    <20% 23 $9,425,000 $409,783 $3,340 3.11%
    49% 13 $5,525,000 $425,000 $3,099 3.28%
    48% 13 $6,005,000 $461,923 $3,917 3.25%
    47% 11 $5,365,000 $487,727 $4,561 3.28%
    45% 10 $4,230,000 $423,000 $3,803 3.75%
    42% 9 $3,595,000 $399,444 $3,940 3.93%
    36% 9 $3,565,000 $396,111 $3,378 4.35%
    38% 9 $3,175,000 $352,778 $3,982 3.61%
    41% 7 $2,695,000 $385,000 $3,368 2.86%
    40% 7 $2,775,000 $396,429 $4,561 4.04%
    46% 6 $1,990,000 $331,667 $2,909 3.56%
    43% 6 $2,420,000 $403,333 $3,304 3.50%
    44% 6 $2,110,000 $351,667 $4,261 4.23%
    37% 5 $1,345,000 $269,000 $2,957 3.55%
    >60% 5 $2,735,000 $547,000 $3,633 2.80%
    39% 4 $3,210,000 $802,500 $3,777 2.78%
    50-60% 3 $1,005,000 $335,000 $2,658 2.83%

    Enterprise Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 204 $412,260,000 $2,020,882 $0 5.21%
    White 206 $92,490,000 $448,981 $3,533 3.50%
    Not provided 65 $32,785,000 $504,385 $4,330 4.21%
    Asian 5 $3,135,000 $627,000 $4,423 4.98%
    Black 2 $2,030,000 $1,015,000 $4,190 3.68%
    Asian Indian 4 $1,140,000 $285,000 $3,054 3.25%
    1 $275,000 $275,000 $3,147 2.75%
    American Indian 1 $275,000 $275,000 $2,883 2.88%

    Approval Rates

    Total approvals of all applications
    97.43%

    Enterprise Bank And Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    79.10%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 488 $544,390,000 $1,115,553

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    488 $544,390,000 $1,115,553

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $25,170,000 $466,111 $3,184 3.98%
    40-60% 97 $77,975,000 $803,866 $3,515 3.95%
    60-80% 266 $396,410,000 $1,490,263 $4,009 4.63%
    80-100% 56 $41,770,000 $745,893 $3,766 3.93%
    Under 20% 15 $3,065,000 $204,333 $2,893 4.07%