South Shore Bank Mortgage Rates, Fees & Info

Weymouth, MA

LEI: 5493009TVPZT8PYBF879

Tax ID: 04-1963710

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

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Mortgage Data

Review & Overview

South Shore Bank is a smaller bank specializing in Home Purchase and Refi loans. South Shore Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Barnstable Town, Providence, and Worcester among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

South Shore 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

247

Origination Dollar Volume (All Markets)

$132,905,000

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) 219 $94,545,000 $431,712 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $23,660,000 $11,830,000 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 13 $10,865,000 $835,769 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $2,485,000 $276,111 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $590,000 $295,000 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
South Shore Bank's top markets include Boston, Manchester, Barnstable Town, Providence, and Worcester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 247 $132,905,000 $538,077 $0 0.00%

    For 2022, South Shore Bank's most frequently originated type of loan was Conventional, with 247 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 82 $65,030,000 $793,049 $0 0.00%
    Cash Out Refi 69 $23,695,000 $343,406 $0 0.00%
    Refi 53 $37,025,000 $698,585 $0 0.00%
    Home Improvement 28 $4,960,000 $177,143 $0 0.00%
    Other 15 $2,195,000 $146,333 $0 0.00%

    For 2022, South Shore Bank's most frequently cited loan purpose was Home Purchase, with 82 originations. The 2nd most popular reason was Cash Out Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 247 $132,905,000 $538,077 $0 0.00%

    For 2022, South Shore Bank's most frequently cited loan duration was Other, with 247 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 74 $22,120,000 $298,919 $0 0.00%
    $400k-600k 44 $21,360,000 $485,455 $0 0.00%
    $100k-200k 38 $5,380,000 $141,579 $0 0.00%
    $100,000 or less 36 $1,670,000 $46,389 $0 0.00%
    $600k-1MM 32 $23,470,000 $733,438 $0 0.00%
    $1MM+ 23 $58,905,000 $2,561,087 $0 0.00%

    2022 saw South Shore Bank place emphasis on $200k-400k loans with 74 originations, totaling $22,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 60 $16,820,000 $280,333 $0 0.00%
    $150k-250k 36 $11,750,000 $326,389 $0 0.00%
    $250k+ 34 $21,150,000 $622,059 $0 0.00%
    $75k-100k 26 $6,100,000 $234,615 $0 0.00%
    $50k-75k 22 $4,150,000 $188,636 $0 0.00%
    $50k or less 5 $335,000 $67,000 $0 0.00%

    South Shore Bank lent most frequently to those with incomes in the $100k-150k range, with 60 originations. The second most popular income band? $150k-250k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 247 $132,905,000 $538,077 $0 0.00%

    South Shore Bank lent most frequently to those with DTI ratios of Exempt%, with 247 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 58 $69,920,000 $1,205,517 $0 0.00%
    White 161 $50,855,000 $315,870 $0 0.00%
    Not provided 15 $7,165,000 $477,667 $0 0.00%
    Black 4 $1,640,000 $410,000 $0 0.00%
    Asian 4 $1,590,000 $397,500 $0 0.00%
    Asian Indian 2 $1,190,000 $595,000 $0 0.00%
    Native Hawaiian or Islander 1 $395,000 $395,000 $0 0.00%
    Chinese 1 $115,000 $115,000 $0 0.00%
    Other Asian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.63%

    South Shore Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.02%

    South Shore Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 247 $132,905,000 $538,077

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    247 $132,905,000 $538,077