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 and Refi loans. Cambridge Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, Providence, and Vineyard Haven among others. We have data for 8 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.

    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
    Home Equity Line of Credit (HELOC) 5.32% 11/22/24
    30 Year Conventional Purchase 5.88% 11/22/24
    30 Year Conventional Refi 6.22% 11/22/24
    30 Year Cash-out Refi 5.91% 11/22/24
    15 Year Conventional Purchase 5.39% 11/22/24
    15 Year Conventional Refi 6.02% 11/22/24
    15 Year Cash-out Refi 6.02% 11/22/24
    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

    727

    Origination Dollar Volume (All Markets)

    $453,675,000

    Employee count

    390

    Awards

    Cambridge Savings Bank 30 Year Conventional Loans gold Cambridge Savings Bank 30 Year Conventional Loans bronze Cambridge Savings Bank 30 Year Conventional Loans gold Cambridge Savings Bank 30 Year Conventional Loans gold
    Show all (4) 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) 684 $416,200,000 $608,480 $2,975 4.01%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 11 $25,565,000 $2,324,091 $3,089 3.97%
    WORCESTER, MA-CT (FHA|USDA|VA) 18 $4,710,000 $261,667 $2,247 4.21%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 10 $4,260,000 $426,000 $2,479 4.12%
    Outside of Metro Areas 1 $2,065,000 $2,065,000 $5,620 3.88%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $415,000 $415,000 $3,454 3.50%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $305,000 $305,000 $2,655 4.25%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Cambridge Savings Bank's top markets include Boston, Barnstable Town, Worcester, Providence, and Vineyard Haven among others.

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

    SOMERSET
    Similarity Rank: 26
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 80
    Rhode Island Credit Union
    Similarity Rank: 116
    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    LEOMINSTER CREDIT UNION
    Similarity Rank: 180
    Charter Oak Federal Credit Union
    Similarity Rank: 294
    BankNewport
    Similarity Rank: 315
    OCEAN STATE CREDIT UNION
    Similarity Rank: 315
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 348

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 725 $453,165,000 $625,055 $2,955 4.01%
    HELOC 2 $510,000 $255,000 n/a 6.13%

    For 2019, Cambridge Savings Bank's most frequently originated type of loan was Conventional, with 725 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 420 $286,390,000 $681,881 $3,146 4.09%
    Refi 159 $95,555,000 $600,975 $2,913 3.64%
    Cash Out Refi 127 $63,965,000 $503,661 $2,712 4.00%
    Home Improvement 15 $5,745,000 $383,000 $861 5.29%
    Other 6 $2,020,000 $336,667 $1,177 5.35%

    For 2019, Cambridge Savings Bank's most frequently cited loan purpose was Home Purchase, with 420 originations. The 2nd most popular reason was Refi, with 159 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 597 $310,325,000 $519,807 $3,077 3.96%
    15 Year 53 $17,575,000 $331,604 $2,665 3.38%
    20 Year 27 $7,475,000 $276,852 $1,630 4.47%
    10 Year 23 $20,985,000 $912,391 $1,107 4.57%
    Other 18 $59,070,000 $3,281,667 $0 5.89%
    5 Year 5 $23,775,000 $4,755,000 $437 5.06%
    3 Year 4 $14,470,000 $3,617,500 $0 3.35%

    For 2019, Cambridge Savings Bank's most frequently cited loan duration was 30 Year, with 597 originations. The 2nd most popular length was 15 Year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 549 $267,475,000 $487,204
    $1k-2k 38 $20,460,000 $538,421
    $5k+ 8 $4,690,000 $586,250
    $2k-3k 6 $2,030,000 $338,333
    $3k-4k 2 $1,240,000 $620,000
    $4k-5k 1 $795,000 $795,000

    Cambridge Savings Bank's average total fees were $3,077, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 549 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 447 $239,655,000 $536,141
    4-5% 113 $110,025,000 $973,673
    5-6% 55 $32,185,000 $585,182
    6-7% 16 $15,130,000 $945,625
    2.5-3% 9 $5,275,000 $586,111
    <2.5% 5 $12,135,000 $2,427,000
    7-8% 1 $255,000 $255,000

    During 2019, Cambridge Savings Bank's average interest rate for loans was 3.96%, while their most frequently originated rate bucket for loans was 3-4%, with 447 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 223 $68,735,000 $308,229 $2,510 3.89%
    $400k-600k 187 $91,575,000 $489,706 $3,160 3.80%
    $600k-1MM 152 $112,670,000 $741,250 $3,935 3.87%
    $1MM+ 75 $170,025,000 $2,267,000 $5,047 4.19%
    $100k-200k 58 $8,900,000 $153,448 $1,486 4.53%
    $100,000 or less 32 $1,770,000 $55,313 $28 5.31%

    2019 saw Cambridge Savings Bank place emphasis on $200k-400k loans with 223 originations, totaling $68,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 225 $111,445,000 $495,311 $3,015 3.92%
    $250k+ 188 $132,560,000 $705,106 $3,456 4.03%
    $100k-150k 148 $57,880,000 $391,081 $2,616 3.95%
    $75k-100k 65 $19,245,000 $296,077 $2,506 3.79%
    $50k-75k 50 $12,760,000 $255,200 $2,589 3.89%
    $50k or less 9 $1,815,000 $201,667 $2,422 3.84%

    Cambridge Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 225 originations. The second most popular income band? $250k+, with 188 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 183 $88,125,000 $481,557 $3,004 3.89%
    30-36% 153 $72,565,000 $474,281 $2,931 4.01%
    <20% 63 $26,945,000 $427,698 $2,828 3.77%
    41% 38 $25,990,000 $683,947 $3,426 4.09%
    37% 35 $17,275,000 $493,571 $2,824 3.92%
    40% 34 $17,300,000 $508,824 $2,818 3.97%
    38% 33 $17,395,000 $527,121 $2,661 4.18%
    36% 32 $16,580,000 $518,125 $2,695 3.78%
    42% 30 $17,860,000 $595,333 $3,485 3.97%
    39% 21 $10,545,000 $502,143 $2,879 3.98%
    43% 14 $6,120,000 $437,143 $2,741 3.94%
    46% 12 $4,870,000 $405,833 $2,971 3.86%
    44% 9 $4,275,000 $475,000 $3,505 3.96%
    48% 9 $2,685,000 $298,333 $2,405 3.95%
    47% 7 $2,325,000 $332,143 $2,688 3.92%
    49% 7 $2,495,000 $356,429 $3,596 3.77%
    45% 4 $1,890,000 $472,500 $2,969 3.79%
    50-60% 1 $465,000 $465,000 $3,313 3.38%

    Cambridge Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 183 originations. The next most common DTI ratio? 30-36%, with 153 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 518 $249,830,000 $482,297 $2,913 3.94%
    Not applicable 42 $117,970,000 $2,808,810 $0 5.09%
    Not provided 82 $45,030,000 $549,146 $3,169 3.99%
    Asian 68 $35,630,000 $523,971 $3,070 3.86%
    Black 17 $5,215,000 $306,765 $2,807 3.98%

    Approval Rates

    Total approvals of all applications
    93.26%

    Cambridge Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.36%

    Cambridge Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 727 $453,675,000 $624,037

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $76,700,000 $7,670,000
    Single Family (1-4 Units):Site-Built 717 $376,975,000 $525,767

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $21,125,000 $325,000 $2,309 3.96%
    40-60% 124 $66,640,000 $537,419 $2,981 3.75%
    60-80% 316 $257,740,000 $815,633 $3,388 3.98%
    80-100% 161 $85,575,000 $531,522 $3,432 3.88%
    Over 100% 1 $1,755,000 $1,755,000 $0 4.63%
    Under 20% 60 $20,840,000 $347,333 $386 5.03%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cambridge Savings Bank 1 Thompson Square Charlestown, MA 2129 Full Service B&M $16,014
    Cambridge Savings Bank 1300 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $140,546
    Cambridge Savings Bank 1374 Massachusetts Avenue Cambridge, MA 2138 Full Service B&M $955,460
    Cambridge Savings Bank 1378 Cambridge Street Cambridge, MA 2139 Full Service B&M $80,842
    Cambridge Savings Bank 140 Middlesex Turnpike Burlington, MA 1803 Full Service B&M $62,359
    Cambridge Savings Bank 1781 Massachusetts Avenue Lexington, MA 2420 Full Service B&M $157,489
    Cambridge Savings Bank 181 Great Road Bedford, MA 1730 Full Service B&M $102,144
    Cambridge Savings Bank 188 Massachusetts Avenue Arlington, MA 2474 Full Service B&M $139,726
    Cambridge Savings Bank 202 Sudbury Road Concord, MA 1742 Full Service B&M $116,123
    Cambridge Savings Bank 214 Cambridge Street Burlington, MA 1803 Full Service B&M $158,684
    Cambridge Savings Bank 40 Leonard Street Belmont, MA 2478 Full Service B&M $155,812
    Cambridge Savings Bank 53 White Street Cambridge, MA 2140 Full Service B&M $224,417
    Cambridge Savings Bank 54 Arsenal Street Watertown, MA 2472 Full Service B&M $94,305
    Cambridge Savings Bank 626 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $293,230
    Cambridge Savings Bank 630-632 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $139,656
    Cambridge Savings Bank 739 Beacon Street Newton Center, MA 2459 Full Service B&M $172,444
    Cambridge Savings Bank Http:/Www.Cambridgesavings.Com Cambridge, MA 2138 Full Service Cyber Office $37,299

    For 2019, Cambridge Savings Bank had 17 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $165,018
    Net interest income $123,171
    Total noninterest income $11,222
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,309
    Trading account gains and fees $0
    Additional Noninterest Income $8,913
    Pre-tax net operating income $47,017
    Securities gains (or losses, -) $2,528
    Income before extraordinary items $38,942
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $38,942
    Minority interest net income $0
    Net income $38,942
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $36,944

    Cambridge Savings Bank's gross interest income from loans was $165,018,000.
    Cambridge Savings Bank's net interest income from loans was $123,171,000.
    Cambridge Savings Bank's fee based income from loans was $2,309,000.
    Cambridge Savings Bank's net income from loans was $38,942,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $41,847
    Provision for credit losses $1,625
    Total noninterest expense $85,751
    Salaries and employee benefits $51,075
    Premises and equipment expense $9,404
    Additional noninterest expense $25,272
    Applicable income taxes $10,603
    Net charge-offs $311
    Cash dividends $0

    Cambridge Savings Bank's interest expense for loans was $41,847,000.
    Cambridge Savings Bank's payroll and benefits expense were $51,075,000.
    Cambridge Savings Bank's property, plant and equipment expenses $9,404,000.

    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 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 $3,153,346
    Deposits held in domestic offices $3,153,346
    Deposits by Individuals, partnerships, and corporations $3,124,330
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $25,921
    Deposits by Commercial banks and other depository institutions in U.S. $3,092
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $183,782
    Demand deposits $117,093
    Nontransaction accounts $2,969,564
    Money market deposit accounts (MMDAs) $1,853,173
    Other savings deposits (excluding MMDAs) $348,365
    Total time deposits $768,026
    Total time and savings deposits $3,036,253
    Noninterest-bearing deposits $633,104
    Interest-bearing deposits $2,520,242
    Retail deposits $2,820,626
    IRAs and Keogh plan accounts $89,681
    Brokered deposits $110,034
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $4,297,767
    Cash & Balances due from depository institutions $108,723
    Interest-bearing balances $88,624
    Total securities $597,177
    Federal funds sold & reverse repurchase $597
    Net loans and leases $3,359,427
    Loan and leases loss allowance $34,102
    Trading account assets $0
    Bank premises and fixed assets $54,613
    Other real estate owned $0
    Goodwill and other intangibles $1,616
    All other assets $175,614

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $4,297,767
    Total Liabilities $3,871,943
    Total deposits $3,153,346
    Interest-bearing deposits $2,520,242
    Deposits held in domestic offices $3,153,346
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $42,119
    Trading liabilities $0
    Other borrowed funds $604,873
    Subordinated debt $0
    All other liabilities $71,605

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $3,359,427
    Loan and leases loss allowance $34,102
    Total loans and leases (domestic) $3,393,529
    All real estate loans $2,940,909
    Real estate loans in domestic offices $2,940,909
    Construction and development loans $270,428
    Residential 1-4 family construction $64,929
    Other construction, all land development and other land $205,499
    Loans secured by nonfarm nonresidential properties $1,474,351
    Nonfarm nonresidential secured by owner-occupied properties $60,238
    Commercial real estate & other non-farm, non-residential $1,414,113
    Multifamily residential real estate $262,892
    1-4 family residential loans $933,238
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $420,346
    To non-U.S. addressees $0
    Loans to individuals $7,256
    Credit card loans $0
    Related Plans $949
    Consumer Auto Loans $5,974
    Other loans to individuals $333
    All other loans & leases $25,018
    Loans to foreign governments and official institutions $0
    Other loans $25,018
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $92,043
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $883
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Cambridge Savings Bank had $3,359,427,000 of loans outstanding in 2019. $2,940,909,000 of loans were in real estate loans. $270,428,000 of loans were in development loans. $262,892,000 of loans were in multifamily mortgage loans. $933,238,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $5,974,000 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 120 $46,440 $387,000
    Nonfarm, nonresidential loans - <$100k 9 $863 $95,889
    Nonfarm, nonresidential loans - $100-250k 20 $3,301 $165,050
    Nonfarm, nonresidential loans - $250k-1MM 91 $42,276 $464,571
    Commercial & Industrial, US addressed loans - <$1MM 965 $87,288 $90,454
    Commercial & Industrial, US addressed loans - <$100k 636 $11,775 $18,514
    Commercial & Industrial, US addressed loans - $100-250k 138 $13,357 $96,790
    Commercial & Industrial, US addressed loans - $250k-1MM 191 $62,156 $325,424