Androscoggin Savings Bank Mortgage Rates, Fees & Info

Lewiston, ME

LEI: 549300DDRY04AJC3ZZ52

Tax ID: 01-0020240

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

Latest/2022 | 2021 Data | 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
  • 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

    Androscoggin Savings Bank is a smaller bank specializing in loans. Androscoggin 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Androscoggin 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. Androscoggin 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.57% 3/24/23
    30 Year Conventional Refi 7.05% 3/24/23
    30 Year Cash-out Refi 6.62% 3/24/23
    30 Year FHA Purchase 7.13% 3/24/23
    30 Year VA Purchase 6.13% 3/24/23
    30 Year USDA Purchase 6.43% 3/24/23
    15 Year Conventional Purchase 6.19% 3/24/23
    15 Year Conventional Refi 6.82% 3/24/23
    15 Year Cash-out Refi 6.82% 3/24/23
    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

    408

    Origination Dollar Volume (All Markets)

    $193,850,000

    Relative Rate

    Androscoggin Savings Bank's average 30 year fixed mortgage rate was 4.89%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.13%.

    Relative Fees (Closing Costs)

    Androscoggin Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,889.

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 295 $160,665,000 $544,627 $5,909 4.71%
    Outside of Metro Areas 37 $13,455,000 $363,649 $5,110 4.97%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 46 $10,140,000 $220,435 $4,148 4.94%
    Augusta-Waterville, ME (FHA|USDA|VA) 29 $8,985,000 $309,828 $3,960 5.53%
    BANGOR, ME (FHA|USDA|VA) 1 $605,000 $605,000 $9,510 6.75%
    Androscoggin Savings Bank's top markets include Portland, Lewiston, Augusta, and Bangor among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 397 $190,405,000 $479,610 $5,441 4.83%
    VA 6 $2,230,000 $371,667 $9,244 5.14%
    FHA 3 $815,000 $271,667 $7,917 4.08%
    USDA 2 $400,000 $200,000 $5,240 2.88%

    For 2022, Androscoggin Savings Bank's most frequently originated type of loan was Conventional, with 397 originations. Their 2nd most popular type was VA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 325 $157,655,000 $485,092 $5,789 4.93%
    Cash Out Refi 51 $26,325,000 $516,176 $4,075 4.46%
    Refi 16 $4,230,000 $264,375 $3,140 4.27%
    Other 9 $4,195,000 $466,111 $6,674 4.29%
    Home Improvement 7 $1,445,000 $206,429 $4,138 4.32%

    For 2022, Androscoggin Savings Bank's most frequently cited loan purpose was Home Purchase, with 325 originations. The 2nd most popular reason was Cash Out Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 348 $158,800,000 $456,322 $4,889 4.89%
    30+ year 24 $18,290,000 $762,083 $15,402 4.32%
    15 Year 16 $6,020,000 $376,250 $3,807 4.65%
    10 Year 10 $7,690,000 $769,000 $2,701 4.40%
    20 Year 5 $1,605,000 $321,000 $3,485 3.58%
    Other 4 $1,160,000 $290,000 $3,242 4.31%
    5 Year 1 $285,000 $285,000 $0 6.00%

    For 2022, Androscoggin Savings Bank's most frequently cited loan duration was 30 Year, with 348 originations. The 2nd most popular length was 30+ year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 235 $101,075,000 $430,106
    $5k+ 42 $37,830,000 $900,714
    $2k-3k 19 $6,095,000 $320,789
    $4k-5k 19 $11,265,000 $592,895
    $3k-4k 16 $6,350,000 $396,875
    $1k-2k 14 $4,310,000 $307,857

    Androscoggin Savings Bank's average total fees were $4,889, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 235 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 128 $63,670,000 $497,422
    3-4% 104 $58,110,000 $558,750
    6-7% 74 $27,760,000 $375,135
    5-6% 72 $30,680,000 $426,111
    2.5-3% 17 $10,475,000 $616,176
    7-8% 12 $2,970,000 $247,500
    <2.5% 1 $185,000 $185,000

    During 2022, Androscoggin Savings Bank's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 4-5%, with 128 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 140 $39,690,000 $283,500 $3,964 4.99%
    $400k-600k 85 $41,075,000 $483,235 $5,178 4.88%
    $600k-1MM 85 $61,415,000 $722,529 $7,609 4.56%
    $100k-200k 61 $9,855,000 $161,557 $3,475 4.84%
    $1MM+ 28 $41,100,000 $1,467,857 $12,414 4.19%
    $100,000 or less 9 $715,000 $79,444 $2,953 5.80%

    2022 saw Androscoggin Savings Bank place emphasis on $200k-400k loans with 140 originations, totaling $39,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 106 $51,610,000 $486,887 $5,578 4.90%
    $250k+ 99 $76,135,000 $769,040 $7,976 4.56%
    $100k-150k 78 $28,630,000 $367,051 $4,683 5.04%
    $75k-100k 47 $13,685,000 $291,170 $3,832 4.73%
    $50k-75k 42 $8,970,000 $213,571 $4,069 4.99%
    $50k or less 23 $4,885,000 $212,391 $3,601 4.82%

    Androscoggin Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 106 originations. The second most popular income band? $250k+, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 88 $38,890,000 $441,932 $5,325 4.84%
    20-30% 81 $36,845,000 $454,877 $5,216 4.54%
    <20% 45 $25,715,000 $571,444 $5,716 4.42%
    43% 22 $9,270,000 $421,364 $5,966 5.28%
    40% 18 $5,390,000 $299,444 $4,897 5.33%
    44% 17 $5,725,000 $336,765 $4,793 5.27%
    39% 15 $9,815,000 $654,333 $6,841 5.19%
    41% 15 $7,005,000 $467,000 $5,770 4.93%
    45% 14 $5,740,000 $410,000 $4,773 4.85%
    37% 13 $5,485,000 $421,923 $6,513 4.82%
    47% 12 $6,720,000 $560,000 $10,290 5.66%
    46% 11 $6,265,000 $569,545 $4,794 4.79%
    50-60% 10 $4,640,000 $464,000 $7,003 4.41%
    38% 9 $4,115,000 $457,222 $4,435 4.51%
    49% 7 $3,005,000 $429,286 $6,880 5.41%
    36% 6 $3,380,000 $563,333 $5,912 4.65%
    48% 6 $3,030,000 $505,000 $4,459 5.21%
    42% 5 $2,915,000 $583,000 $4,680 5.17%
    >60% 2 $790,000 $395,000 $3,709 3.19%

    Androscoggin Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 88 originations. The next most common DTI ratio? 20-30%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 192 $94,220,000 $490,729 $5,499 5.16%
    White 199 $89,675,000 $450,628 $5,556 4.51%
    Not applicable 10 $7,790,000 $779,000 $0 4.80%
    Asian 4 $1,820,000 $455,000 $4,158 4.47%
    Black 3 $345,000 $115,000 $0 4.41%

    Approval Rates

    Total approvals of all applications
    96.29%

    Androscoggin Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    80.88%

    Androscoggin Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 408 $193,850,000 $475,123

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    408 $193,850,000 $475,123

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $2,295,000 $176,538 $3,130 4.77%
    40-60% 43 $14,405,000 $335,000 $5,208 4.73%
    60-80% 159 $77,065,000 $484,686 $6,042 4.70%
    80-100% 190 $99,080,000 $521,474 $5,229 4.94%
    Over 100% 2 $810,000 $405,000 $17,339 5.00%
    Under 20% 1 $195,000 $195,000 $0 4.90%