South Shore Bank Mortgage Rates, Fees & Info
Weymouth, MALEI: 5493009TVPZT8PYBF879
Tax ID: 04-1963710
Latest/2023 | 2022 Data | 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 loans. South Shore Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Portland, Providence, and Vineyard Haven among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)South Shore Bank has an 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
139Origination Dollar Volume (All Markets)
$59,455,000Top 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) | 128 | $50,660,000 | $395,781 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $3,520,000 | $1,760,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $2,740,000 | $1,370,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $0 | 0.00% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 139 | $59,455,000 | $427,734 | $0 | 0.00% |
For 2023, South Shore Bank's most frequently originated type of loan was Conventional, with 139 originations.
Loan Reason
For 2023, South Shore Bank's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Home Improvement, with 35 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 139 | $59,455,000 | $427,734 | $0 | 0.00% |
For 2023, South Shore Bank's most frequently cited loan duration was Other, with 139 originations.
Loan Sizing
2023 saw South Shore Bank place emphasis on $100,000 or less loans with 51 originations, totaling $2,505,000 in origination value.
Applicant Income
South Shore Bank lent most frequently to those with incomes in the $150k-250k range, with 39 originations. The second most popular income band? $100k-150k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 139 | $59,455,000 | $427,734 | $0 | 0.00% |
South Shore Bank lent most frequently to those with DTI ratios of Exempt%, with 139 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.38%
South Shore Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.05%
South Shore Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 139 | $59,455,000 | $427,734 |