East Boston Savings Bank Mortgage Rates, Fees & Info
Boston, MALEI: 549300COSKD1GGV2KI91
Tax ID: 04-3130808
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
East Boston Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. East Boston Savings Bank has a high proportion of conventional loans. Their top markets include Boston, Providence, Manchester, Barnstable Town, and Worcester among others. East Boston Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. East Boston Savings Bank is typically a low fee lendor.Originations
420Origination Dollar Volume (All Markets)
$477,920,000Awards
East Boston Savings Bank - 2021
East Boston Savings Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
East Boston Savings Bank's average 30 year fixed rate mortgage of loans were
3.12%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.03%.
Relative Fees
East Boston Savings Bank's average total fees for a 30 year fixed rate
mortgage are $3,138.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 408 | $466,300,000 | $1,142,892 | $3,018 | 3.07% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 5 | $5,535,000 | $1,107,000 | $2,093 | 2.85% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 2 | $3,990,000 | $1,995,000 | $3,105 | 3.31% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $1,445,000 | $481,667 | $2,821 | 2.79% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $2,109 | 2.56% |
East Boston Savings Bank's top markets include Boston, Providence, Manchester, Barnstable Town, and Worcester among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 420 | $477,920,000 | $1,137,905 | $3,001 | 3.07% |
For the 2021 period, East Boston Savings Bank's most frequently originated loan type of loans were Conventional, with 420 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 200 | $237,500,000 | $1,187,500 | $2,733 | 2.92% |
| Cash Out Refi | 116 | $43,670,000 | $376,466 | $3,026 | 3.04% |
| Home Purchase | 102 | $195,570,000 | $1,917,353 | $3,777 | 3.38% |
| Home Improvement | 1 | $1,015,000 | $1,015,000 | $0 | 3.38% |
| Other | 1 | $165,000 | $165,000 | $2,693 | 4.25% |
For the 2021, East Boston Savings Bank's most frequently cited loan purpose of loans were Refi, with 200 originations. The 2nd most popular reason of loans were Cash Out Refi, with 116 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 266 | $156,620,000 | $588,797 | $3,138 | 3.12% |
| 15 Year | 57 | $14,765,000 | $259,035 | $2,429 | 2.38% |
| Other | 35 | $61,905,000 | $1,768,714 | $2,522 | 3.78% |
| 20 Year | 32 | $21,670,000 | $677,188 | $2,384 | 2.80% |
| 10 Year | 20 | $93,930,000 | $4,696,500 | $2,653 | 3.07% |
| 1 Year | 3 | $2,945,000 | $981,667 | $0 | 4.25% |
| 30+ year | 3 | $2,655,000 | $885,000 | $11,190 | 3.50% |
| 3 Year | 2 | $2,420,000 | $1,210,000 | $0 | 3.88% |
| 5 Year | 2 | $121,010,000 | $60,505,000 | $0 | 4.00% |
For the 2021, East Boston Savings Bank's most frequently cited loan length of loans were 30 Year, with 266 originations. The 2nd most popular length of loans were 15 Year, with 57 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 291 | $112,295,000 | $385,893 |
| $1k-2k | 7 | $2,845,000 | $406,429 |
| $2k-3k | 7 | $3,285,000 | $469,286 |
| $5k+ | 3 | $2,715,000 | $905,000 |
| $3k-4k | 2 | $930,000 | $465,000 |
$3,138 of loans were East Boston Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 291 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 172 | $70,720,000 | $411,163 |
| 3-4% | 126 | $257,730,000 | $2,045,476 |
| <2.5% | 88 | $24,070,000 | $273,523 |
| 4-5% | 34 | $125,400,000 | $3,688,235 |
During 2021, East Boston Savings Bank's average interest rate of loans were 3.12%, while their most frequently originated rate bucket of loans were 2.5-3%, with 172 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 166 | $48,720,000 | $293,494 | $2,680 | 2.85% |
| $400k-600k | 90 | $44,140,000 | $490,444 | $3,282 | 3.07% |
| $1MM+ | 60 | $340,690,000 | $5,678,167 | $7,267 | 3.76% |
| $100k-200k | 54 | $8,290,000 | $153,519 | $2,363 | 2.69% |
| $600k-1MM | 49 | $36,055,000 | $735,816 | $3,704 | 3.44% |
| $100,000 or less | 1 | $25,000 | $25,000 | $0 | 0.00% |
2021 saw East Boston Savings Bank place emphasis on $200k-400k loans with 166 originations, totaling $48,720,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 77 | $28,475,000 | $369,805 | $2,888 | 2.88% |
| $75k-100k | 73 | $23,555,000 | $322,671 | $2,897 | 2.72% |
| $150k-250k | 57 | $26,125,000 | $458,333 | $3,183 | 2.95% |
| $50k-75k | 53 | $13,085,000 | $246,887 | $2,588 | 2.81% |
| $250k+ | 43 | $34,545,000 | $803,372 | $4,417 | 3.05% |
| $50k or less | 22 | $4,810,000 | $218,636 | $2,443 | 2.87% |
East Boston Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 77 originations. The second most popular income band? $75k-100k, with 73 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 82 | $27,770,000 | $338,659 | $2,680 | 2.66% |
| 30-36% | 55 | $20,855,000 | $379,182 | $2,921 | 2.92% |
| <20% | 31 | $12,805,000 | $413,065 | $2,832 | 2.99% |
| 40% | 21 | $8,525,000 | $405,952 | $2,878 | 3.01% |
| 44% | 18 | $8,100,000 | $450,000 | $3,731 | 2.88% |
| 39% | 14 | $6,250,000 | $446,429 | $3,100 | 2.89% |
| 37% | 14 | $6,170,000 | $440,714 | $2,987 | 2.84% |
| 41% | 13 | $5,695,000 | $438,077 | $2,991 | 3.00% |
| 45% | 12 | $4,880,000 | $406,667 | $3,087 | 3.02% |
| 49% | 12 | $4,520,000 | $376,667 | $2,719 | 2.75% |
| 42% | 10 | $5,540,000 | $554,000 | $4,647 | 2.94% |
| 38% | 10 | $4,240,000 | $424,000 | $2,848 | 2.85% |
| 43% | 10 | $3,490,000 | $349,000 | $3,299 | 3.21% |
| 46% | 9 | $3,965,000 | $440,556 | $3,117 | 2.88% |
| 47% | 8 | $1,840,000 | $230,000 | $2,591 | 2.75% |
| 36% | 7 | $1,925,000 | $275,000 | $2,764 | 2.86% |
| 48% | 6 | $2,320,000 | $386,667 | $3,467 | 2.63% |
| 50-60% | 5 | $5,965,000 | $1,193,000 | $4,714 | 3.53% |
| >60% | 4 | $1,610,000 | $402,500 | $3,929 | 3.59% |
East Boston Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 82 originations. The next most common DTI ratio? 30-36%, with 55 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 75 | $338,835,000 | $4,517,800 | $0 | 3.89% |
| White | 270 | $109,190,000 | $404,407 | $2,954 | 2.87% |
| Asian | 30 | $14,410,000 | $480,333 | $3,387 | 2.94% |
| Not provided | 29 | $11,115,000 | $383,276 | $3,264 | 3.02% |
| Black | 15 | $4,115,000 | $274,333 | $2,705 | 2.80% |
| Asian Indian | 1 | $255,000 | $255,000 | $2,839 | 3.00% |
Approval Rates
Total approvals of all applications92.53%
East Boston Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.60%
East Boston Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 420 | $477,920,000 | $1,137,905 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 420 | $477,920,000 | $1,137,905 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 86 | $25,390,000 | $295,233 | $2,592 | 2.85% |
| 40-60% | 128 | $116,880,000 | $913,125 | $2,874 | 2.90% |
| 60-80% | 169 | $321,565,000 | $1,902,751 | $3,442 | 3.35% |
| 80-100% | 23 | $11,305,000 | $491,522 | $3,402 | 2.93% |
| Under 20% | 14 | $2,780,000 | $198,571 | $2,320 | 2.79% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| East Boston Savings Bank | 320 Central Street Saugus, MA 1906 | Full Service B&M | $135,006 |
| East Boston Savings Bank | 1614 Tremont Street Boston, MA 2120 | Full Service B&M | $5,204 |
| East Boston Savings Bank | 1739 Massachusetts Avenue Cambridge, MA 2138 | Full Service B&M | $4,396 |
| East Boston Savings Bank | 1755 Revere Beach Parkway Everett, MA 2149 | Full Service B&M | $123,578 |
| East Boston Savings Bank | 181 Brighton Avenue Allston, MA 2134 | Full Service B&M | $37,872 |
| East Boston Savings Bank | 193 Washington Street Salem, MA 1970 | Full Service B&M | $3,192 |
| East Boston Savings Bank | 1952-1956 Beacon Street Boston, MA 2135 | Full Service B&M | $28,348 |
| East Boston Savings Bank | 1981-1985 Centre Street West Roxbury, MA 2132 | Full Service B&M | $107,955 |
| East Boston Savings Bank | 2172 Massachusetts Avenue Cambridge, MA 2140 | Full Service B&M | $50,893 |
| East Boston Savings Bank | 2250 Dorchester Avenue Boston, MA 2124 | Full Service B&M | $88,360 |
| East Boston Savings Bank | 24 Broadway, Route 1 South Lynnfield, MA 1940 | Full Service B&M | $15,133 |
| East Boston Savings Bank | 305 Talbot Avenue Dorchester, MA 2124 | Full Service B&M | $71,747 |
| East Boston Savings Bank | 317 Main Street Saugus, MA 1906 | Full Service B&M | $128,906 |
| East Boston Savings Bank | 1 Bennington Street Boston, MA 2128 | Full Service B&M | $124,963 |
| East Boston Savings Bank | 10 Elm Street Danvers, MA 1923 | Full Service B&M | $398,707 |
| East Boston Savings Bank | 10 Meridian St Boston, MA 2128 | Full Service B&M | $101,608 |
| East Boston Savings Bank | 1050 Beacon Street Brookline, MA 2446 | Full Service B&M | $33,372 |
| East Boston Savings Bank | 108 Main Street Melrose, MA 2176 | Full Service B&M | $97,455 |
| East Boston Savings Bank | 1134 Washington Street Boston, MA 2118 | Full Service B&M | $55,255 |
| East Boston Savings Bank | 126 Squire Road Revere, MA 2151 | Limited, Mobile/Seasonal Office | $0 |
| East Boston Savings Bank | 126 Squire Road Revere, MA 2151 | Full Service B&M | $101,654 |
| East Boston Savings Bank | 1441 Beacon Street Brookline, MA 2446 | Full Service B&M | $54,364 |
| East Boston Savings Bank | 15 Bartlett Road Winthrop, MA 2152 | Full Service B&M | $161,268 |
| East Boston Savings Bank | 1608 Commonwealth Avenue Brighton, MA 2135 | Full Service B&M | $6,179 |
| East Boston Savings Bank | 515 Centre Street Boston, MA 2130 | Full Service B&M | $115,613 |
| East Boston Savings Bank | 575 Broadway Revere, MA 2151 | Full Service B&M | $144,078 |
| East Boston Savings Bank | 67 Prospect St Peabody, MA 1960 | Full Service B&M | $624,342 |
| East Boston Savings Bank | 70 Concord Avenue Belmont, MA 2478 | Full Service B&M | $107,793 |
| East Boston Savings Bank | 708 East Broadway South Boston, MA 2127 | Full Service B&M | $136,294 |
| East Boston Savings Bank | 856 Bennington Street Boston, MA 2128 | Full Service B&M | $242,779 |
| East Boston Savings Bank | 95 Kneeland Street Boston, MA 2111 | Full Service B&M | $53,284 |
| East Boston Savings Bank | 960 Morrissey Blvd. Dorchester, MA 2122 | Full Service B&M | $29,825 |
| East Boston Savings Bank | 331 Montvale Avenue Woburn, MA 1801 | Full Service B&M | $7,600 |
| East Boston Savings Bank | 335 Broadway Lynn, MA 1903 | Full Service B&M | $70,269 |
| East Boston Savings Bank | 37 Union Square Somerville, MA 2143 | Full Service B&M | $109,257 |
| East Boston Savings Bank | 381 Main Street Wakefield, MA 1880 | Full Service B&M | $95,067 |
| East Boston Savings Bank | 410 Riverside Avenue Medford, MA 2155 | Full Service B&M | $74,179 |
| East Boston Savings Bank | 4238 Washington St Roslindale, MA 2131 | Full Service B&M | $15,003 |
| East Boston Savings Bank | 430 West Broadway South Boston, MA 2127 | Full Service B&M | $880,082 |
| East Boston Savings Bank | 473 Harvard Street Brookline, MA 2446 | Full Service B&M | $2,145 |
| East Boston Savings Bank | 489 Gallivan Boulevard Dorchester, MA 2124 | Full Service B&M | $133,205 |
| East Boston Savings Bank | 50 Summit Drive Burlington, MA 1803 | Full Service B&M | $34,681 |
| East Boston Savings Bank | 501 South Hampton Street South Boston, MA 2127 | Full Service B&M | $95,739 |
For 2021, East Boston Savings Bank had 43 branches.
