Watertown Savings Bank Mortgage Rates, Fees & Info

Watertown, MA

LEI: 5493009IWRQ5BJEI4M92

Tax ID: 04-1950840

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

Review & Overview

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

Watertown Savings Bank 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.

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Originations

189

Origination Dollar Volume (All Markets)

$133,805,000

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
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	185	$129,785,000	$701,541	$0	0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$3,205,000	$3,205,000	$0	0.00%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	2	$720,000	$360,000	$0	0.00%
SPRINGFIELD, MA (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	0.00%

Watertown Savings Bank's top markets include Boston, Miami, Barnstable Town, and Springfield among others.

Their top states include:

Massachusetts (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	189	$133,805,000	$707,963	$0	0.00%

For 2022, Watertown Savings Bank's most frequently originated type of loan was Conventional, with 189 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	106	$80,340,000	$757,925	$0	0.00%
Refi	72	$46,530,000	$646,250	$0	0.00%
Other	6	$3,550,000	$591,667	$0	0.00%
Home Improvement	4	$3,210,000	$802,500	$0	0.00%
Cash Out Refi	1	$175,000	$175,000	$0	0.00%

For 2022, Watertown Savings Bank's most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Refi, with 72 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	189	$133,805,000	$707,963	$0	0.00%

For 2022, Watertown Savings Bank's most frequently cited loan duration was Other, with 189 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$400k-600k	63	$31,405,000	$498,492	$0	0.00%
$600k-1MM	50	$37,680,000	$753,600	$0	0.00%
$1MM+	35	$54,865,000	$1,567,571	$0	0.00%
$200k-400k	30	$8,660,000	$288,667	$0	0.00%
$100k-200k	7	$955,000	$136,429	$0	0.00%
$100,000 or less	4	$240,000	$60,000	$0	0.00%

2022 saw Watertown Savings Bank place emphasis on $400k-600k loans with 63 originations, totaling $31,405,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	44	$35,480,000	$806,364	$0	0.00%
$150k-250k	34	$21,080,000	$620,000	$0	0.00%
$100k-150k	20	$8,780,000	$439,000	$0	0.00%
$50k-75k	14	$5,260,000	$375,714	$0	0.00%
$50k or less	10	$3,390,000	$339,000	$0	0.00%
$75k-100k	10	$4,620,000	$462,000	$0	0.00%

Watertown Savings Bank lent most frequently to those with incomes in the $250k+ range, with 44 originations. The second most popular income band? $150k-250k, with 34 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	189	$133,805,000	$707,963	$0	0.00%

Watertown Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 189 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	104	$67,250,000	$646,635	$0	0.00%
Not applicable	48	$47,230,000	$983,958	$0	0.00%
Not provided	15	$7,835,000	$522,333	$0	0.00%
Asian	8	$4,180,000	$522,500	$0	0.00%
Asian Indian	4	$2,340,000	$585,000	$0	0.00%
Black	6	$2,310,000	$385,000	$0	0.00%
American Indian	3	$2,295,000	$765,000	$0	0.00%
Other Asian	1	$365,000	$365,000	$0	0.00%

Approval Rates

Total approvals of all applications
99.56%

Watertown Savings Bank 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
80.95%

Watertown Savings Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	189	$133,805,000	$707,963

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	189	$133,805,000	$707,963