East Boston Savings Bank Mortgage Rates, Fees & Info

Boston, MA

LEI: 549300COSKD1GGV2KI91

Tax ID: 04-3130808

5 stars - out of 5 stars, based on 20 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

420

Origination Dollar Volume (All Markets)

$477,920,000

Awards

East Boston Savings Bank 30 Year Conventional Loans silver East Boston Savings Bank 30 Year Conventional Loans silver
Show all (2) awards

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 applications
92.53%

East Boston Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
84.60%

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.

Yearly Performance Overview