Androscoggin Savings Bank Mortgage Rates, Fees & Info

Lewiston, ME

LEI: 549300DDRY04AJC3ZZ52

Tax ID: 01-0020240

5 stars - Updated: 12/8/24 - out of 5 stars, based on 16 reviews

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

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Mortgage Data

Review & Overview

Androscoggin Savings Bank is a smaller bank specializing in Home Purchase 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.) Their top markets by origination volume include: Portland, Augusta, Lewiston, 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 relatively high 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 6.57% 12/8/24
30 Year Conventional Refi 7.05% 12/8/24
30 Year Cash-out Refi 6.62% 12/8/24
30 Year FHA Purchase 7.13% 12/8/24
30 Year VA Purchase 6.13% 12/8/24
30 Year USDA Purchase 6.43% 12/8/24
15 Year Conventional Purchase 6.19% 12/8/24
15 Year Conventional Refi 6.82% 12/8/24
15 Year Cash-out Refi 6.82% 12/8/24
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.

Androscoggin Savings Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Androscoggin Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

262

Origination Dollar Volume (All Markets)

$123,050,000

Awards

Androscoggin Savings Bank 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Androscoggin Savings Bank's average 30 year fixed mortgage rate was 6.63%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.15%.

Relative Fees (Closing Costs)

Androscoggin Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,190.

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 $9,089.

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) 170 $91,820,000 $540,118 $5,600 6.46%
Outside of Metro Areas 34 $14,730,000 $433,235 $5,619 6.90%
Augusta-Waterville, ME (FHA|USDA|VA) 30 $10,350,000 $345,000 $4,580 6.58%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 27 $5,535,000 $205,000 $4,052 6.88%
BANGOR, ME (FHA|USDA|VA) 1 $615,000 $615,000 $6,999 6.99%
Androscoggin Savings Bank's top markets include Portland, Augusta, Lewiston, and Bangor among others.

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

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

    Kennebec Savings Bank
    Similarity Rank: 50
    Saco Valley Credit Union
    Similarity Rank: 64
    Holy Rosary Regional Credit Union
    Similarity Rank: 104
    Bath Savings Institution
    Similarity Rank: 115
    CUMBERLAND COUNTY
    Similarity Rank: 200
    EVERGREEN
    Similarity Rank: 204
    Norway Savings Bank
    Similarity Rank: 243
    Androscoggin Savings Bank
    Similarity Rank: 305
    University Credit Union
    Similarity Rank: 370

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 251 $119,735,000 $477,032 $5,277 6.62%
    VA 6 $1,940,000 $323,333 $5,397 5.58%
    FHA 5 $1,375,000 $275,000 $8,213 5.90%

    For 2023, Androscoggin Savings Bank's most frequently originated type of loan was Conventional, with 251 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 226 $111,410,000 $492,965 $5,531 6.64%
    Cash Out Refi 22 $8,770,000 $398,636 $3,948 5.91%
    Other 6 $1,110,000 $185,000 $4,395 6.56%
    Refi 5 $1,415,000 $283,000 $3,154 6.66%
    Home Improvement 3 $345,000 $115,000 $2,301 6.46%

    For 2023, Androscoggin Savings Bank's most frequently cited loan purpose was Home Purchase, with 226 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 230 $112,230,000 $487,957 $5,190 6.63%
    30+ year 13 $3,885,000 $298,846 $10,226 7.20%
    15 Year 5 $1,045,000 $209,000 $3,188 6.18%
    Other 5 $945,000 $189,000 $3,699 4.22%
    10 Year 4 $4,110,000 $1,027,500 $103 3.39%
    20 Year 3 $755,000 $251,667 $1,315 8.17%
    5 Year 2 $80,000 $40,000 $0 7.15%

    For 2023, Androscoggin Savings Bank's most frequently cited loan duration was 30 Year, with 230 originations. The 2nd most popular length was 30+ year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 147 $64,475,000 $438,605
    $5k+ 24 $24,400,000 $1,016,667
    $1k-2k 22 $5,540,000 $251,818
    $3k-4k 18 $6,020,000 $334,444
    $4k-5k 13 $7,535,000 $579,615
    $2k-3k 10 $2,190,000 $219,000

    Androscoggin Savings Bank's average total fees were $5,190, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 147 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 144 $73,160,000 $508,056
    7-8% 52 $22,500,000 $432,692
    5-6% 47 $18,265,000 $388,617
    Over 8% 15 $4,605,000 $307,000
    <2.5% 4 $4,520,000 $1,130,000

    During 2023, Androscoggin Savings Bank's average interest rate for loans was 6.63%, while their most frequently originated rate bucket for loans was 6-7%, with 144 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 107 $31,685,000 $296,121 $4,779 6.50%
    $400k-600k 50 $24,170,000 $483,400 $4,449 6.49%
    $600k-1MM 42 $31,430,000 $748,333 $6,399 6.80%
    $100k-200k 33 $4,995,000 $151,364 $3,740 6.71%
    $1MM+ 18 $30,010,000 $1,667,222 $12,697 6.17%
    $100,000 or less 12 $760,000 $63,333 $2,609 7.12%

    2023 saw Androscoggin Savings Bank place emphasis on $200k-400k loans with 107 originations, totaling $31,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 74 $57,680,000 $779,459 $6,765 6.73%
    $150k-250k 62 $28,660,000 $462,258 $5,292 6.69%
    $75k-100k 43 $11,575,000 $269,186 $4,358 6.58%
    $100k-150k 39 $13,775,000 $353,205 $4,796 6.74%
    $50k-75k 25 $5,155,000 $206,200 $4,975 6.51%
    $50k or less 11 $1,525,000 $138,636 $3,281 6.65%

    Androscoggin Savings Bank lent most frequently to those with incomes in the $250k+ range, with 74 originations. The second most popular income band? $150k-250k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 94 $42,360,000 $450,638 $5,433 6.70%
    <20% 77 $35,075,000 $455,519 $4,928 6.72%
    30-36% 43 $19,405,000 $451,279 $5,746 6.76%
    36% 7 $4,015,000 $573,571 $3,998 6.45%
    37% 6 $4,410,000 $735,000 $6,421 6.13%
    41% 5 $1,735,000 $347,000 $3,409 6.27%
    38% 5 $3,235,000 $647,000 $7,193 6.90%
    47% 5 $2,775,000 $555,000 $7,243 6.13%
    46% 3 $885,000 $295,000 $5,248 6.75%
    40% 2 $710,000 $355,000 $3,409 6.63%
    43% 1 $165,000 $165,000 $3,069 5.75%
    44% 1 $375,000 $375,000 $3,369 6.38%
    39% 1 $495,000 $495,000 $3,846 6.13%
    50-60% 1 $1,205,000 $1,205,000 $11,447 6.88%
    48% 1 $1,005,000 $1,005,000 $9,505 7.63%
    45% 1 $165,000 $165,000 $2,255 6.25%
    42% 1 $355,000 $355,000 $4,014 6.00%

    Androscoggin Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 94 originations. The next most common DTI ratio? <20%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 157 $67,205,000 $428,057 $5,064 6.72%
    Not provided 87 $47,855,000 $550,057 $5,985 6.57%
    Not applicable 8 $4,680,000 $585,000 $0 3.61%
    Asian 7 $2,135,000 $305,000 $3,600 6.77%
    Black 3 $1,175,000 $391,667 $3,560 7.00%

    Approval Rates

    Total approvals of all applications
    97.15%

    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
    83.97%

    Androscoggin Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 262 $123,050,000 $469,656

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    262 $123,050,000 $469,656

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $3,020,000 $251,667 $4,127 5.89%
    40-60% 44 $19,400,000 $440,909 $5,222 6.64%
    60-80% 83 $42,815,000 $515,843 $5,915 6.59%
    80-100% 110 $56,290,000 $511,727 $5,275 6.60%
    Over 100% 1 $345,000 $345,000 $10,944 5.50%
    Under 20% 12 $1,180,000 $98,333 $2,348 6.83%