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

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Boston, Providence, Manchester, Barnstable Town, and Worcester among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    East Boston Savings 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. East Boston Savings Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.33% 3/19/23
    30 Year Conventional Refi 6.27% 3/19/23
    30 Year Cash-out Refi 6.50% 3/19/23
    15 Year Conventional Purchase 5.40% 3/19/23
    15 Year Conventional Refi 5.71% 3/19/23
    15 Year Cash-out Refi 5.71% 3/19/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    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 mortgage rate was 3.12%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.03%.

    Relative Fees (Closing Costs)

    East Boston Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,138.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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) 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.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against East Boston Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Sharon & Crescent United Credit Union
    Similarity Rank: 335
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Bridgewater Savings Bank
    Similarity Rank: 672
    Middlesex Savings Bank
    Similarity Rank: 672
    East Boston Savings Bank
    Similarity Rank: 755
    Piscataqua Savings Bank
    Similarity Rank: 789
    Norwood Co-operative Bank
    Similarity Rank: 820
    QUINCY CREDIT UNION
    Similarity Rank: 900
    HARVARD UNIVERSITY EMPLOYEES
    Similarity Rank: 1001
    Walpole Co-operative Bank
    Similarity Rank: 1052

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 420 $477,920,000 $1,137,905 $3,001 3.07%

    For 2021, East Boston Savings Bank's most frequently originated type of loan was Conventional, with 420 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, East Boston Savings Bank's most frequently cited loan purpose was Refi, with 200 originations. The 2nd most popular reason was 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 2021, East Boston Savings Bank's most frequently cited loan duration was 30 Year, with 266 originations. The 2nd most popular length was 15 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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
    $4k-5k 2 $930,000 $465,000

    East Boston Savings Bank's average total fees were $3,138, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.12%, while their most frequently originated rate bucket for loans was 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
    93.50%

    East Boston Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.29%

    East Boston Savings Bank has an 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 1 Bennington Street Boston, MA 2128 Full Service B&M $124,963
    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 320 Central Street Saugus, MA 1906 Full Service B&M $135,006
    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
    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 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

    For 2021, East Boston Savings Bank had 43 branches.

    Yearly Performance Overview