Cambridge Savings Bank Mortgage Rates, Fees & Info

Cambridge, MA

LEI: 549300FHGNOLF14HHS09

Tax ID: 04-1145100

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Cambridge Savings Bank is a smaller bank specializing in Home Purchase loans. Cambridge Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, Providence, and Vineyard Haven among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cambridge 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. Cambridge 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.

    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
    Home Equity Line of Credit (HELOC) 5.32% 4/21/24
    30 Year Conventional Purchase 5.88% 4/21/24
    30 Year Conventional Refi 6.22% 4/21/24
    30 Year Cash-out Refi 5.91% 4/21/24
    15 Year Conventional Purchase 5.39% 4/21/24
    15 Year Conventional Refi 6.02% 4/21/24
    15 Year Cash-out Refi 6.02% 4/21/24
    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.

    Cambridge Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Cambridge 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

    629

    Origination Dollar Volume (All Markets)

    $346,645,000

    Employee count

    377

    Awards

    Cambridge Savings Bank 30 Year Conventional Loans silver Cambridge Savings Bank 30 Year Conventional Loans gold
    Show all (2) 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) 600 $337,020,000 $561,700 $3,237 4.35%
    WORCESTER, MA-CT (FHA|USDA|VA) 11 $3,495,000 $317,727 $3,580 4.22%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $3,240,000 $405,000 $2,873 4.06%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 8 $2,110,000 $263,750 $1,505 4.78%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $485,000 $485,000 $3,089 3.88%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $295,000 $295,000 $2,691 4.75%
    Cambridge Savings Bank's top markets include Boston, Worcester, Barnstable Town, Providence, and Vineyard Haven among others.

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

    • Similar Lenders

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

    Westport Federal Credit Union
    Similarity Rank: 23
    Notre Dame Community Federal Credit Union
    Similarity Rank: 38
    PAWTUCKET
    Similarity Rank: 60
    Bank of Easton
    Similarity Rank: 66
    Charter Oak Federal Credit Union
    Similarity Rank: 84
    SOMERSET
    Similarity Rank: 99
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Martha's Vineyard Savings Bank
    Similarity Rank: 128
    Triangle Credit Union
    Similarity Rank: 147

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 629 $346,645,000 $551,105 $3,222 4.35%

    For 2018, Cambridge Savings Bank's most frequently originated type of loan was Conventional, with 629 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 425 $246,715,000 $580,506 $3,452 4.40%
    Cash Out Refi 89 $41,045,000 $461,180 $2,740 4.27%
    Refi 85 $38,645,000 $454,647 $2,892 4.03%
    Home Improvement 18 $16,560,000 $920,000 $2,288 5.06%
    Other 12 $3,680,000 $306,667 $1,474 4.43%

    For 2018, Cambridge Savings Bank's most frequently cited loan purpose was Home Purchase, with 425 originations. The 2nd most popular reason was Cash Out Refi, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 519 $260,975,000 $502,842 $3,336 4.26%
    20 Year 30 $11,590,000 $386,333 $2,387 4.57%
    Other 28 $29,660,000 $1,059,286 $0 5.89%
    15 Year 25 $9,485,000 $379,400 $2,692 3.84%
    10 Year 15 $17,505,000 $1,167,000 $1,400 4.96%
    5 Year 8 $2,190,000 $273,750 $38 4.58%
    1 Year 2 $1,680,000 $840,000 $0 5.50%
    3 Year 2 $13,560,000 $6,780,000 $0 4.44%

    For 2018, Cambridge Savings Bank's most frequently cited loan duration was 30 Year, with 519 originations. The 2nd most popular length was 20 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 429 $216,765,000 $505,280
    $1k-2k 34 $13,220,000 $388,824
    $2k-3k 12 $4,880,000 $406,667
    $3k-4k 7 $3,945,000 $563,571
    $5k+ 6 $3,950,000 $658,333
    $4k-5k 2 $840,000 $420,000

    Cambridge Savings Bank's average total fees were $3,336, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 429 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 322 $183,390,000 $569,534
    3-4% 228 $119,260,000 $523,070
    5-6% 65 $34,605,000 $532,385
    6-7% 12 $8,810,000 $734,167
    <2.5% 1 $5,000 $5,000
    2.5-3% 1 $575,000 $575,000

    During 2018, Cambridge Savings Bank's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 4-5%, with 322 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 195 $95,565,000 $490,077 $3,207 4.22%
    $200k-400k 165 $50,835,000 $308,091 $2,895 4.25%
    $600k-1MM 126 $97,020,000 $770,000 $4,112 4.37%
    $1MM+ 55 $93,285,000 $1,696,091 $5,846 4.55%
    $100k-200k 51 $7,615,000 $149,314 $1,790 4.50%
    $100,000 or less 37 $2,325,000 $62,838 $283 4.96%

    2018 saw Cambridge Savings Bank place emphasis on $400k-600k loans with 195 originations, totaling $95,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 179 $88,095,000 $492,151 $3,238 4.33%
    $100k-150k 153 $58,825,000 $384,477 $2,901 4.27%
    $250k+ 150 $107,990,000 $719,933 $3,975 4.24%
    $75k-100k 54 $16,470,000 $305,000 $2,894 4.20%
    $50k-75k 40 $9,420,000 $235,500 $2,747 4.19%
    $50k or less 9 $1,525,000 $169,444 $1,960 4.07%

    Cambridge Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 179 originations. The second most popular income band? $100k-150k, with 153 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 142 $72,940,000 $513,662 $3,430 4.25%
    20-30% 124 $54,870,000 $442,500 $2,993 4.27%
    <20% 50 $24,350,000 $487,000 $3,076 4.13%
    41% 38 $18,990,000 $499,737 $3,048 4.21%
    38% 35 $20,655,000 $590,143 $4,130 4.22%
    42% 33 $17,715,000 $536,818 $3,424 4.31%
    36% 28 $13,870,000 $495,357 $3,059 4.48%
    40% 25 $11,955,000 $478,200 $3,071 4.42%
    39% 24 $10,880,000 $453,333 $2,977 4.27%
    37% 22 $10,720,000 $487,273 $3,592 4.41%
    44% 16 $5,670,000 $354,375 $2,782 4.13%
    48% 12 $5,230,000 $435,833 $2,746 4.39%
    43% 10 $4,840,000 $484,000 $3,529 4.07%
    46% 7 $2,155,000 $307,857 $2,796 3.89%
    45% 6 $2,120,000 $353,333 $2,758 3.83%
    49% 5 $2,015,000 $403,000 $2,684 4.53%
    47% 4 $1,520,000 $380,000 $2,679 4.56%
    50-60% 1 $445,000 $445,000 $2,849 3.75%
    >60% 1 $395,000 $395,000 $2,354 4.88%

    Cambridge Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 142 originations. The next most common DTI ratio? 20-30%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 404 $197,530,000 $488,936 $3,212 4.26%
    Not applicable 44 $64,320,000 $1,461,818 $0 5.52%
    Asian 76 $39,890,000 $524,868 $3,596 4.18%
    Not provided 92 $38,820,000 $421,957 $3,008 4.38%
    Black 13 $6,085,000 $468,077 $3,194 4.20%

    Approval Rates

    Total approvals of all applications
    92.44%

    Cambridge Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.67%

    Cambridge Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 629 $346,645,000 $551,105

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $25,760,000 $3,220,000
    Single Family (1-4 Units):Site-Built 621 $320,885,000 $516,723

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 71 $24,985,000 $351,901 $2,549 4.24%
    40-60% 105 $54,375,000 $517,857 $3,420 4.28%
    60-80% 274 $200,510,000 $731,788 $3,651 4.34%
    80-100% 121 $60,385,000 $499,050 $3,498 4.24%
    Under 20% 58 $6,390,000 $110,172 $731 4.92%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cambridge Savings Bank 1 Thompson Square Charlestown, MA 2129 Full Service B&M $7,647
    Cambridge Savings Bank 1300 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $136,940
    Cambridge Savings Bank 1374 Massachusetts Avenue Cambridge, MA 2138 Full Service B&M $869,824
    Cambridge Savings Bank 1378 Cambridge Street Cambridge, MA 2139 Full Service B&M $74,166
    Cambridge Savings Bank 140 Middlesex Turnpike Burlington, MA 1803 Full Service B&M $50,992
    Cambridge Savings Bank 1781 Massachusetts Avenue Lexington, MA 2420 Full Service B&M $147,669
    Cambridge Savings Bank 181 Great Road Bedford, MA 1730 Full Service B&M $95,438
    Cambridge Savings Bank 188 Massachusetts Avenue Arlington, MA 2474 Full Service B&M $146,021
    Cambridge Savings Bank 202 Sudbury Road Concord, MA 1742 Full Service B&M $126,838
    Cambridge Savings Bank 214 Cambridge Street Burlington, MA 1803 Full Service B&M $143,580
    Cambridge Savings Bank 40 Leonard Street Belmont, MA 2478 Full Service B&M $152,540
    Cambridge Savings Bank 53 White Street Cambridge, MA 2140 Full Service B&M $231,683
    Cambridge Savings Bank 54 Arsenal Street Watertown, MA 2472 Full Service B&M $66,970
    Cambridge Savings Bank 626 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $285,455
    Cambridge Savings Bank 630-632 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $126,358
    Cambridge Savings Bank 739 Beacon Street Newton Center, MA 2459 Full Service B&M $142,422
    Cambridge Savings Bank Http:/Www.Cambridgesavings.Com Cambridge, MA 2138 Full Service Cyber Office $22,810

    For 2018, Cambridge Savings Bank had 17 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $147,300
    Net interest income $117,842
    Total noninterest income $5,545
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,063
    Trading account gains and fees $0
    Additional Noninterest Income $3,482
    Pre-tax net operating income $42,546
    Securities gains (or losses, -) $1,505
    Income before extraordinary items $37,985
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $37,985
    Minority interest net income $0
    Net income $37,985
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $36,690

    Cambridge Savings Bank's gross interest income from loans was $147,300,000.
    Cambridge Savings Bank's net interest income from loans was $117,842,000.
    Cambridge Savings Bank's fee based income from loans was $2,063,000.
    Cambridge Savings Bank's net income from loans was $37,985,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $29,458
    Provision for credit losses $2,775
    Total noninterest expense $78,066
    Salaries and employee benefits $47,087
    Premises and equipment expense $7,759
    Additional noninterest expense $23,220
    Applicable income taxes $6,066
    Net charge-offs $758
    Cash dividends $0

    Cambridge Savings Bank's interest expense for loans was $29,458,000.
    Cambridge Savings Bank's payroll and benefits expense were $47,087,000.
    Cambridge Savings Bank's property, plant and equipment expenses $7,759,000.

    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 1.0%
    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 2.0%
    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 $2,981,112
    Deposits held in domestic offices $2,981,112
    Deposits by Individuals, partnerships, and corporations $2,950,125
    Deposits by U.S. Government $8
    Deposits by States and political subdivisions in the U.S. $27,925
    Deposits by Commercial banks and other depository institutions in U.S. $3,054
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $180,780
    Demand deposits $110,425
    Nontransaction accounts $2,800,332
    Money market deposit accounts (MMDAs) $1,681,461
    Other savings deposits (excluding MMDAs) $427,653
    Total time deposits $691,218
    Total time and savings deposits $2,870,687
    Noninterest-bearing deposits $588,350
    Interest-bearing deposits $2,392,762
    Retail deposits $2,668,505
    IRAs and Keogh plan accounts $91,741
    Brokered deposits $160,506
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,881,689
    Cash & Balances due from depository institutions $76,185
    Interest-bearing balances $55,149
    Total securities $597,512
    Federal funds sold & reverse repurchase $762
    Net loans and leases $3,007,028
    Loan and leases loss allowance $32,788
    Trading account assets $0
    Bank premises and fixed assets $40,786
    Other real estate owned $0
    Goodwill and other intangibles $1,635
    All other assets $157,781

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,881,689
    Total Liabilities $3,504,017
    Total deposits $2,981,112
    Interest-bearing deposits $2,392,762
    Deposits held in domestic offices $2,981,112
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $56,971
    Trading liabilities $0
    Other borrowed funds $422,942
    Subordinated debt $0
    All other liabilities $42,992

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $3,007,028
    Loan and leases loss allowance $32,788
    Total loans and leases (domestic) $3,039,816
    All real estate loans $2,685,704
    Real estate loans in domestic offices $2,685,704
    Construction and development loans $243,453
    Residential 1-4 family construction $77,340
    Other construction, all land development and other land $166,113
    Loans secured by nonfarm nonresidential properties $1,296,640
    Nonfarm nonresidential secured by owner-occupied properties $65,945
    Commercial real estate & other non-farm, non-residential $1,230,695
    Multifamily residential real estate $260,402
    1-4 family residential loans $885,209
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $320,828
    To non-U.S. addressees $0
    Loans to individuals $5,726
    Credit card loans $0
    Related Plans $1,182
    Consumer Auto Loans $4,245
    Other loans to individuals $299
    All other loans & leases $27,558
    Loans to foreign governments and official institutions $0
    Other loans $27,558
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $54,552
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,289
    Non 1-4 family restructured loans & leases $73
    Total loans and leases (foreign) $0

    Cambridge Savings Bank had $3,007,028,000 of loans outstanding in 2018. $2,685,704,000 of loans were in real estate loans. $243,453,000 of loans were in development loans. $260,402,000 of loans were in multifamily mortgage loans. $885,209,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,245,000 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 125 $45,914 $367,312
    Nonfarm, nonresidential loans - <$100k 10 $928 $92,800
    Nonfarm, nonresidential loans - $100-250k 21 $3,465 $165,000
    Nonfarm, nonresidential loans - $250k-1MM 94 $41,521 $441,713
    Commercial & Industrial, US addressed loans - <$1MM 851 $70,579 $82,937
    Commercial & Industrial, US addressed loans - <$100k 574 $10,268 $17,889
    Commercial & Industrial, US addressed loans - $100-250k 114 $9,595 $84,167
    Commercial & Industrial, US addressed loans - $250k-1MM 163 $50,716 $311,141