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 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
247Origination Dollar Volume (All Markets)
$132,905,000Top 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) | 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% |
Their top states include:
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
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
2022 saw South Shore Bank place emphasis on $200k-400k loans with 74 originations, totaling $22,120,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications92.63%
South Shore Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.02%
South Shore Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 247 | $132,905,000 | $538,077 |