East Boston Savings Bank Mortgage Rates, Fees & Info

Boston, MA

LEI: 549300COSKD1GGV2KI91

Tax ID: 04-3130808

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

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Mortgage Data

  • Originations
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    East Boston Savings Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. East Boston Savings Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Boston, Worcester, Providence, Barnstable Town, and Manchester among others. We have data for 6 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 a low 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.

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    Originations

    581

    Origination Dollar Volume (All Markets)

    $565,545,000

    Employee count

    478

    Awards

    East Boston Savings Bank 30 Year Conventional Loans silver
    Show all (1) awards

    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) 559 $549,865,000 $983,658 $2,940 3.28%
    WORCESTER, MA-CT (FHA|USDA|VA) 6 $9,130,000 $1,521,667 $2,902 3.21%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 8 $2,610,000 $326,250 $2,619 2.98%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $2,330,000 $388,333 $2,900 3.10%
    Outside of Metro Areas 1 $1,345,000 $1,345,000 $4,327 3.63%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $265,000 $265,000 $2,411 3.00%
    East Boston Savings Bank's top markets include Boston, Worcester, Providence, Barnstable Town, and Manchester 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.

    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Bridgewater Savings Bank
    Similarity Rank: 600
    Triangle Credit Union
    Similarity Rank: 696
    NEW HAMPSHIRE
    Similarity Rank: 756
    NESC
    Similarity Rank: 772
    East Boston Savings Bank
    Similarity Rank: 798
    Sharon & Crescent United Credit Union
    Similarity Rank: 830
    QUINCY CREDIT UNION
    Similarity Rank: 876

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 580 $564,880,000 $973,931 $2,911 3.28%
    FHA 1 $665,000 $665,000 $15,115 2.25%

    For 2020, East Boston Savings Bank's most frequently originated type of loan was Conventional, with 580 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 251 $108,415,000 $431,932 $2,681 2.95%
    Cash Out Refi 200 $219,730,000 $1,098,650 $2,790 3.46%
    Home Purchase 129 $237,075,000 $1,837,791 $3,899 3.62%
    Home Improvement 1 $325,000 $325,000 $0 4.75%

    For 2020, East Boston Savings Bank's most frequently cited loan purpose was Refi, with 251 originations. The 2nd most popular reason was Cash Out Refi, with 200 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 404 $237,410,000 $587,649 $3,002 3.29%
    15 Year 77 $20,125,000 $261,364 $2,499 2.63%
    Other 39 $48,665,000 $1,247,821 $2,612 4.22%
    20 Year 35 $32,185,000 $919,571 $2,569 3.05%
    10 Year 14 $126,500,000 $9,035,714 $2,353 3.56%
    1 Year 6 $2,910,000 $485,000 $0 4.29%
    30+ year 3 $3,105,000 $1,035,000 $17,263 4.00%
    5 Year 2 $48,040,000 $24,020,000 $0 4.50%
    3 Year 1 $46,605,000 $46,605,000 $0 4.38%

    For 2020, East Boston Savings Bank's most frequently cited loan duration was 30 Year, with 404 originations. The 2nd most popular length was 15 Year, with 77 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 432 $165,580,000 $383,287
    $1k-2k 24 $10,690,000 $445,417
    $2k-3k 3 $1,375,000 $458,333
    $5k+ 3 $3,065,000 $1,021,667
    $3k-4k 1 $655,000 $655,000
    $4k-5k 1 $815,000 $815,000

    East Boston Savings Bank's average total fees were $3,002, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 432 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 215 $75,445,000 $350,907
    3-4% 205 $124,455,000 $607,098
    4-5% 99 $344,545,000 $3,480,253
    <2.5% 59 $16,335,000 $276,864
    5-6% 3 $4,765,000 $1,588,333

    During 2020, East Boston Savings Bank's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 2.5-3%, with 215 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 241 $71,365,000 $296,120 $2,669 3.09%
    $400k-600k 176 $82,680,000 $469,773 $3,026 3.17%
    $1MM+ 56 $367,970,000 $6,570,893 $6,422 4.32%
    $100k-200k 55 $8,555,000 $155,545 $2,243 3.02%
    $600k-1MM 46 $34,530,000 $750,652 $4,827 3.82%
    $100,000 or less 7 $445,000 $63,571 $1,355 2.61%

    2020 saw East Boston Savings Bank place emphasis on $200k-400k loans with 241 originations, totaling $71,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 125 $45,095,000 $360,760 $2,965 3.09%
    $150k-250k 122 $53,930,000 $442,049 $3,108 3.14%
    $75k-100k 77 $24,125,000 $313,312 $2,657 3.01%
    $250k+ 64 $47,170,000 $737,031 $3,797 3.37%
    $50k-75k 60 $15,450,000 $257,500 $2,479 3.03%
    $50k or less 16 $3,470,000 $216,875 $2,296 3.12%

    East Boston Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 125 originations. The second most popular income band? $150k-250k, with 122 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 136 $53,070,000 $390,221 $2,823 2.99%
    30-36% 108 $43,860,000 $406,111 $3,071 3.15%
    <20% 62 $21,370,000 $344,677 $2,579 2.94%
    37% 29 $11,455,000 $395,000 $2,949 3.07%
    42% 22 $7,940,000 $360,909 $2,669 3.27%
    40% 21 $9,715,000 $462,619 $3,362 3.25%
    43% 20 $7,420,000 $371,000 $3,099 3.21%
    44% 16 $5,570,000 $348,125 $2,555 3.05%
    39% 16 $6,860,000 $428,750 $2,874 3.23%
    38% 16 $5,370,000 $335,625 $2,939 3.33%
    41% 14 $5,280,000 $377,143 $2,676 3.07%
    45% 11 $5,855,000 $532,273 $4,632 3.45%
    49% 7 $2,595,000 $370,714 $2,841 3.13%
    46% 7 $3,785,000 $540,714 $3,320 3.05%
    47% 7 $3,325,000 $475,000 $3,093 3.29%
    36% 7 $2,775,000 $396,429 $3,206 3.38%
    48% 4 $1,410,000 $352,500 $3,095 2.97%
    >60% 2 $4,560,000 $2,280,000 $3,825 3.75%
    50-60% 1 $635,000 $635,000 $3,613 3.25%

    East Boston Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 136 originations. The next most common DTI ratio? 30-36%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 69 $359,755,000 $5,213,841 $0 4.45%
    White 401 $162,045,000 $404,102 $2,987 3.12%
    Not provided 47 $20,235,000 $430,532 $2,788 3.12%
    Asian 45 $15,515,000 $344,778 $2,639 2.98%
    Black 14 $5,520,000 $394,286 $2,815 3.27%
    American Indian 1 $805,000 $805,000 $0 4.00%
    Chinese 1 $605,000 $605,000 $0 4.50%
    Vietnamese 1 $415,000 $415,000 $3,709 3.13%
    Asian Indian 1 $405,000 $405,000 $3,100 3.88%
    Other Asian 1 $245,000 $245,000 $2,014 2.25%

    Approval Rates

    Total approvals of all applications
    92.26%

    East Boston Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.58%

    East Boston Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 581 $565,545,000 $973,399

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 39 $328,845,000 $8,431,923
    Single Family (1-4 Units):Site-Built 542 $236,700,000 $436,716

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 101 $28,245,000 $279,653 $2,613 3.14%
    40-60% 178 $114,010,000 $640,506 $2,748 3.12%
    60-80% 237 $353,275,000 $1,490,612 $2,981 3.44%
    80-100% 50 $23,720,000 $474,400 $4,158 3.25%
    Under 20% 15 $46,295,000 $3,086,333 $1,494 3.66%

    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 $112,552
    East Boston Savings Bank 10 Elm Street Danvers, MA 1923 Full Service B&M $397,877
    East Boston Savings Bank 10 Meridian Street Boston, MA 2128 Full Service B&M $73,006
    East Boston Savings Bank 1050 Beacon Street Brookline, MA 2446 Full Service B&M $35,892
    East Boston Savings Bank 108 Main Street Melrose, MA 2176 Full Service B&M $93,585
    East Boston Savings Bank 1134 Washington Street Boston, MA 2118 Full Service B&M $41,460
    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 $87,586
    East Boston Savings Bank 1441 Beacon Street Brookline, MA 2446 Full Service B&M $54,796
    East Boston Savings Bank 15 Bartlett Road Winthrop, MA 2152 Full Service B&M $153,030
    East Boston Savings Bank 1608 Commonwealth Avenue Brighton, MA 2135 Full Service B&M $2,993
    East Boston Savings Bank 1614 Tremont Street Boston, MA 2120 Full Service B&M $4,923
    East Boston Savings Bank 1739 Massachusetts Avenue Cambridge, MA 2138 Full Service B&M $3,356
    East Boston Savings Bank 1755 Revere Beach Parkway Everett, MA 2149 Full Service B&M $100,268
    East Boston Savings Bank 181 Brighton Avenue Allston, MA 2134 Full Service B&M $44,489
    East Boston Savings Bank 1952-1956 Beacon Street Boston, MA 2135 Full Service B&M $32,215
    East Boston Savings Bank 1981-1985 Centre Street West Roxbury, MA 2132 Full Service B&M $97,890
    East Boston Savings Bank 2172 Massachusetts Avenue Cambridge, MA 2140 Full Service B&M $36,874
    East Boston Savings Bank 2250 Dorchester Avenue Boston, MA 2124 Full Service B&M $81,027
    East Boston Savings Bank 24 Broadway, Route 1 South Lynnfield, MA 1940 Full Service B&M $10,662
    East Boston Savings Bank 305 Talbot Avenue Dorchester, MA 2124 Full Service B&M $54,883
    East Boston Savings Bank 317 Main Street Saugus, MA 1906 Full Service B&M $122,912
    East Boston Savings Bank 320 Central Street Saugus, MA 1906 Full Service B&M $122,359
    East Boston Savings Bank 335 Broadway Lynn, MA 1903 Full Service B&M $75,163
    East Boston Savings Bank 37 Union Square Somerville, MA 2143 Full Service B&M $54,383
    East Boston Savings Bank 381 Main Street Wakefield, MA 1880 Full Service B&M $93,677
    East Boston Savings Bank 410 Riverside Avenue Medford, MA 2155 Full Service B&M $74,351
    East Boston Savings Bank 4238 Washington St Roslindale, MA 2131 Full Service B&M $14,825
    East Boston Savings Bank 430 West Broadway South Boston, MA 2127 Full Service B&M $822,820
    East Boston Savings Bank 489 Gallivan Boulevard Dorchester, MA 2124 Full Service B&M $122,642
    East Boston Savings Bank 50 Summit Drive Burlington, MA 1803 Full Service B&M $23,138
    East Boston Savings Bank 501 South Hampton Street South Boston, MA 2127 Full Service B&M $102,346
    East Boston Savings Bank 515 Centre Street Boston, MA 2130 Full Service B&M $118,568
    East Boston Savings Bank 575 Broadway Revere, MA 2151 Full Service B&M $137,116
    East Boston Savings Bank 67 Prospect St Peabody, MA 1960 Full Service B&M $898,198
    East Boston Savings Bank 70 Concord Avenue Belmont, MA 2478 Full Service B&M $105,595
    East Boston Savings Bank 708 East Broadway South Boston, MA 2127 Full Service B&M $128,061
    East Boston Savings Bank 856 Bennington Street Boston, MA 2128 Full Service B&M $221,681
    East Boston Savings Bank 95 Kneeland Street Boston, MA 2111 Full Service B&M $53,002
    East Boston Savings Bank 960 Morrissey Blvd. Dorchester, MA 2122 Full Service B&M $30,284

    For 2020, East Boston Savings Bank had 40 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $254,657
    Net interest income $194,663
    Total noninterest income $16,202
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,276
    Trading account gains and fees $0
    Additional Noninterest Income $12,926
    Pre-tax net operating income $86,745
    Securities gains (or losses, -) $695
    Income before extraordinary items $65,369
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $65,369
    Minority interest net income $0
    Net income $65,369
    Sale, conversion, retirement of capital stock, net $4,914
    Net operating income $64,819

    East Boston Savings Bank's gross interest income from loans was $254,657,000.
    East Boston Savings Bank's net interest income from loans was $194,663,000.
    East Boston Savings Bank's fee based income from loans was $3,276,000.
    East Boston Savings Bank's net income from loans was $65,369,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $59,994
    Provision for credit losses $26,456
    Total noninterest expense $97,664
    Salaries and employee benefits $59,815
    Premises and equipment expense $11,837
    Additional noninterest expense $26,012
    Applicable income taxes $22,071
    Net charge-offs $255
    Cash dividends $0

    East Boston Savings Bank's interest expense for loans was $59,994,000.
    East Boston Savings Bank's payroll and benefits expense were $59,815,000.
    East Boston Savings Bank's property, plant and equipment expenses $11,837,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $5,094,366
    Deposits held in domestic offices $5,094,366
    Deposits by Individuals, partnerships, and corporations $4,826,949
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $201,617
    Deposits by Commercial banks and other depository institutions in U.S. $65,800
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,042,647
    Demand deposits $181,303
    Nontransaction accounts $4,051,719
    Money market deposit accounts (MMDAs) $930,507
    Other savings deposits (excluding MMDAs) $1,902,002
    Total time deposits $1,219,210
    Total time and savings deposits $4,913,063
    Noninterest-bearing deposits $713,281
    Interest-bearing deposits $4,381,085
    Retail deposits $4,383,194
    IRAs and Keogh plan accounts $151,331
    Brokered deposits $387,595
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,619,632
    Cash & Balances due from depository institutions $914,586
    Interest-bearing balances $883,377
    Total securities $23,505
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,452,297
    Loan and leases loss allowance $68,824
    Trading account assets $0
    Bank premises and fixed assets $66,271
    Other real estate owned $0
    Goodwill and other intangibles $22,115
    All other assets $140,858

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,619,632
    Total Liabilities $5,878,289
    Total deposits $5,094,366
    Interest-bearing deposits $4,381,085
    Deposits held in domestic offices $5,094,366
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $708,245
    Subordinated debt $0
    All other liabilities $75,678

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,452,297
    Loan and leases loss allowance $68,824
    Total loans and leases (domestic) $5,521,121
    All real estate loans $4,956,747
    Real estate loans in domestic offices $4,956,747
    Construction and development loans $747,929
    Residential 1-4 family construction $50,290
    Other construction, all land development and other land $697,639
    Loans secured by nonfarm nonresidential properties $2,686,213
    Nonfarm nonresidential secured by owner-occupied properties $460,880
    Commercial real estate & other non-farm, non-residential $2,225,333
    Multifamily residential real estate $880,552
    1-4 family residential loans $642,053
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $166,068
    To non-U.S. addressees $0
    Loans to individuals $10,707
    Credit card loans $0
    Related Plans $99
    Consumer Auto Loans $2
    Other loans to individuals $10,606
    All other loans & leases $387,599
    Loans to foreign governments and official institutions $0
    Other loans $268
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,549
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    East Boston Savings Bank had $5,452,297,000 of loans outstanding in 2020. $4,956,747,000 of loans were in real estate loans. $747,929,000 of loans were in development loans. $880,552,000 of loans were in multifamily mortgage loans. $642,053,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 388 $140,700 $362,629
    Nonfarm, nonresidential loans - <$100k 19 $850 $44,737
    Nonfarm, nonresidential loans - $100-250k 80 $10,294 $128,675
    Nonfarm, nonresidential loans - $250k-1MM 289 $129,556 $448,291
    Commercial & Industrial, US addressed loans - <$1MM 589 $67,404 $114,438
    Commercial & Industrial, US addressed loans - <$100k 350 $8,975 $25,643
    Commercial & Industrial, US addressed loans - $100-250k 102 $12,970 $127,157
    Commercial & Industrial, US addressed loans - $250k-1MM 137 $45,459 $331,818