Optima Bank & Trust Mortgage Rates, Fees & Info

Portsmouth, NH

LEI: 549300BLWGOW3VSG3385

Tax ID: 26-0810235

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

Review & Overview

Optima Bank & Trust is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Optima Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Portland, Manchester, Concord, and Laconia among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Optima Bank & Trust has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

310

Origination Dollar Volume (All Markets)

$113,470,000

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)	211	$73,935,000	$350,403	$0	0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA\|USDA\|VA)	41	$16,055,000	$391,585	$0	0.00%
MANCHESTER-NASHUA, NH (FHA\|USDA\|VA)	28	$10,960,000	$391,429	$0	0.00%
Concord, NH (FHA\|USDA\|VA)	10	$5,330,000	$533,000	$0	0.00%
Laconia, NH (FHA\|USDA\|VA)	5	$3,075,000	$615,000	$0	0.00%
Outside of Metro Areas	12	$2,960,000	$246,667	$0	0.00%
Lebanon, NH-VT (FHA\|USDA\|VA)	2	$940,000	$470,000	$0	0.00%
Berlin, NH (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%

Optima Bank & Trust's top markets include Boston, Portland, Manchester, Concord, and Laconia among others.

Their top states include:

New Hampshire (FHA|USDA|VA)

Maine (FHA|USDA|VA)

Massachusetts (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	310	$113,470,000	$366,032	$0	0.00%

For 2018, Optima Bank & Trust's most frequently originated type of loan was Conventional, with 310 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	224	$81,400,000	$363,393	$0	0.00%
Cash Out Refi	72	$23,450,000	$325,694	$0	0.00%
Home Improvement	10	$7,580,000	$758,000	$0	0.00%
Refi	3	$1,005,000	$335,000	$0	0.00%
Other	1	$35,000	$35,000	$0	0.00%

For 2018, Optima Bank & Trust's most frequently cited loan purpose was Home Purchase, with 224 originations. The 2nd most popular reason was Cash Out Refi, with 72 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	310	$113,470,000	$366,032	$0	0.00%

For 2018, Optima Bank & Trust's most frequently cited loan duration was Other, with 310 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	111	$31,165,000	$280,766	$0	0.00%
$100k-200k	74	$11,450,000	$154,730	$0	0.00%
$400k-600k	47	$21,845,000	$464,787	$0	0.00%
$100,000 or less	34	$2,480,000	$72,941	$0	0.00%
$600k-1MM	31	$24,065,000	$776,290	$0	0.00%
$1MM+	13	$22,465,000	$1,728,077	$0	0.00%

2018 saw Optima Bank & Trust place emphasis on $200k-400k loans with 111 originations, totaling $31,165,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	59	$22,945,000	$388,898	$0	0.00%
$100k-150k	58	$16,450,000	$283,621	$0	0.00%
$250k+	52	$33,100,000	$636,538	$0	0.00%
$75k-100k	45	$10,445,000	$232,111	$0	0.00%
$50k-75k	37	$7,035,000	$190,135	$0	0.00%
$50k or less	18	$3,770,000	$209,444	$0	0.00%

Optima Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 59 originations. The second most popular income band? $100k-150k, with 58 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	310	$113,470,000	$366,032	$0	0.00%

Optima Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 310 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	222	$78,350,000	$352,928	$0	0.00%
Not applicable	40	$19,180,000	$479,500	$0	0.00%
Not provided	39	$12,935,000	$331,667	$0	0.00%
Asian	5	$1,655,000	$331,000	$0	0.00%
Korean	1	$965,000	$965,000	$0	0.00%
Asian Indian	3	$385,000	$128,333	$0	0.00%

Approval Rates

Total approvals of all applications
93.58%

Optima Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
90.32%

Optima Bank & Trust has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	310	$113,470,000	$366,032

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	16	$13,170,000	$823,125
Single Family (1-4 Units):Manufactured	1	$125,000	$125,000
Single Family (1-4 Units):Site-Built	293	$100,175,000	$341,894

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
Option Funding, Inc.	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	100.0%