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, Worcester, Barnstable Town, Providence, and Vineyard Haven among others. We have data for 10 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

    1,315

    Origination Dollar Volume (All Markets)

    $731,935,000

    Employee count

    429

    Awards

    Cambridge Savings Bank 30 Year Conventional Loans silver Cambridge Savings Bank 30 Year Conventional Loans bronze Cambridge Savings Bank 30 Year Conventional Loans silver
    Show all (3) 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) 1,221 $693,085,000 $567,637 $2,882 3.25%
    WORCESTER, MA-CT (FHA|USDA|VA) 35 $16,535,000 $472,429 $2,899 3.32%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 32 $11,770,000 $367,813 $2,661 3.16%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 16 $5,810,000 $363,125 $2,625 3.23%
    Outside of Metro Areas 1 $1,275,000 $1,275,000 $4,611 3.00%
    Vineyard Haven, MA (FHA|USDA|VA) 2 $1,260,000 $630,000 $3,289 3.00%
    PITTSFIELD, MA (FHA|USDA|VA) 2 $870,000 $435,000 $2,684 3.06%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $595,000 $198,333 $2,152 2.83%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $430,000 $215,000 $1,664 3.13%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $305,000 $305,000 $2,632 2.88%
    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)
  • 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.

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Triangle Credit Union
    Similarity Rank: 696
    CorePlus Federal Credit Union
    Similarity Rank: 710
    NEW HAMPSHIRE
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,315 $731,935,000 $556,605 $2,871 3.24%

    For 2020, Cambridge Savings Bank's most frequently originated type of loan was Conventional, with 1,315 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 537 $384,355,000 $715,745 $3,427 3.33%
    Refi 526 $222,900,000 $423,764 $2,479 3.10%
    Cash Out Refi 248 $120,040,000 $484,032 $2,579 3.36%
    Home Improvement 4 $4,640,000 $1,160,000 $3,483 3.37%

    For 2020, Cambridge Savings Bank's most frequently cited loan purpose was Home Purchase, with 537 originations. The 2nd most popular reason was Refi, with 526 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 974 $530,100,000 $544,251 $3,078 3.31%
    15 Year 176 $56,510,000 $321,080 $2,290 2.74%
    20 Year 85 $30,135,000 $354,529 $2,154 3.17%
    10 Year 46 $45,390,000 $986,739 $2,270 3.16%
    Other 28 $41,220,000 $1,472,143 $2,264 4.38%
    3 Year 3 $3,315,000 $1,105,000 $0 4.13%
    5 Year 2 $23,610,000 $11,805,000 $0 3.73%
    1 Year 1 $1,655,000 $1,655,000 $0 4.50%

    For 2020, Cambridge Savings Bank's most frequently cited loan duration was 30 Year, with 974 originations. The 2nd most popular length was 15 Year, with 176 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,055 $527,235,000 $499,749
    $1k-2k 92 $36,250,000 $394,022
    $2k-3k 14 $6,520,000 $465,714
    $3k-4k 9 $4,895,000 $543,889
    $4k-5k 7 $3,075,000 $439,286
    $5k+ 3 $1,635,000 $545,000

    Cambridge Savings Bank's average total fees were $3,078, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,055 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 797 $491,295,000 $616,430
    2.5-3% 413 $171,455,000 $415,145
    <2.5% 56 $16,200,000 $289,286
    4-5% 25 $39,935,000 $1,597,400
    5-6% 24 $13,050,000 $543,750

    During 2020, Cambridge Savings Bank's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 797 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 447 $137,115,000 $306,745 $2,378 3.14%
    $400k-600k 384 $188,630,000 $491,224 $2,919 3.22%
    $600k-1MM 252 $187,320,000 $743,333 $3,668 3.36%
    $1MM+ 111 $201,675,000 $1,816,892 $4,628 3.51%
    $100k-200k 100 $15,980,000 $159,800 $1,883 3.14%
    $100,000 or less 21 $1,215,000 $57,857 $686 3.57%

    2020 saw Cambridge Savings Bank place emphasis on $200k-400k loans with 447 originations, totaling $137,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 422 $215,650,000 $511,019 $2,900 3.25%
    $250k+ 331 $234,625,000 $708,837 $3,474 3.26%
    $100k-150k 275 $107,665,000 $391,509 $2,640 3.14%
    $75k-100k 140 $43,560,000 $311,143 $2,411 3.15%
    $50k-75k 93 $23,995,000 $258,011 $2,299 3.08%
    $50k or less 16 $2,750,000 $171,875 $2,034 3.03%

    Cambridge Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 422 originations. The second most popular income band? $250k+, with 331 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 419 $207,115,000 $494,308 $2,887 3.20%
    30-36% 253 $126,985,000 $501,917 $2,954 3.24%
    <20% 157 $73,105,000 $465,637 $2,688 3.11%
    40% 62 $31,870,000 $514,032 $2,986 3.28%
    42% 57 $33,255,000 $583,421 $3,041 3.29%
    39% 48 $25,090,000 $522,708 $2,804 3.32%
    38% 47 $23,615,000 $502,447 $2,948 3.11%
    36% 46 $21,400,000 $465,217 $2,843 3.13%
    37% 44 $22,510,000 $511,591 $2,845 3.24%
    41% 37 $20,285,000 $548,243 $2,982 3.16%
    43% 25 $9,985,000 $399,400 $2,635 3.27%
    44% 24 $9,660,000 $402,500 $2,986 3.14%
    47% 13 $4,515,000 $347,308 $2,422 3.28%
    48% 13 $5,485,000 $421,923 $2,860 3.13%
    45% 12 $4,590,000 $382,500 $2,318 3.14%
    46% 11 $4,595,000 $417,727 $2,661 3.39%
    49% 8 $3,550,000 $443,750 $2,877 3.05%
    50-60% 1 $635,000 $635,000 $3,046 3.75%

    Cambridge Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 419 originations. The next most common DTI ratio? 30-36%, with 253 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 948 $443,030,000 $467,331 $2,783 3.20%
    Not applicable 37 $103,095,000 $2,786,351 $0 4.63%
    Not provided 154 $88,520,000 $574,805 $3,146 3.21%
    Asian 135 $78,745,000 $583,296 $3,215 3.19%
    Black 41 $18,545,000 $452,317 $2,883 3.34%

    Approval Rates

    Total approvals of all applications
    95.49%

    Cambridge 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
    84.33%

    Cambridge Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,315 $731,935,000 $556,605

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $50,710,000 $5,071,000
    Single Family (1-4 Units):Site-Built 1,305 $681,225,000 $522,011

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 174 $55,720,000 $320,230 $2,490 2.99%
    40-60% 311 $144,575,000 $464,871 $2,569 3.18%
    60-80% 505 $310,325,000 $614,505 $3,043 3.35%
    80-100% 269 $161,125,000 $598,978 $3,435 3.23%
    Over 100% 4 $51,250,000 $12,812,500 $0 3.80%
    Under 20% 52 $8,940,000 $171,923 $1,417 3.47%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cambridge Savings Bank 1 Thompson Square Charlestown, MA 2129 Full Service B&M $28,836
    Cambridge Savings Bank 1300 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $143,010
    Cambridge Savings Bank 1374 Massachusetts Ave Cambridge, MA 2138 Full Service B&M $1,187,717
    Cambridge Savings Bank 1378 Cambridge Street Cambridge, MA 2139 Full Service B&M $96,597
    Cambridge Savings Bank 140 Middlesex Turnpike Burlington, MA 1803 Full Service B&M $82,679
    Cambridge Savings Bank 1781 Massachusetts Avenue Lexington, MA 2420 Full Service B&M $301,458
    Cambridge Savings Bank 181 Great Road Bedford, MA 1730 Full Service B&M $123,845
    Cambridge Savings Bank 188 Massachusetts Avenue Arlington, MA 2474 Full Service B&M $171,074
    Cambridge Savings Bank 202 Sudbury Road Concord, MA 1742 Full Service B&M $130,746
    Cambridge Savings Bank 214 Cambridge Street Burlington, MA 1803 Full Service B&M $188,586
    Cambridge Savings Bank 40 Leonard Street Belmont, MA 2478 Full Service B&M $184,097
    Cambridge Savings Bank 53 White Street Cambridge, MA 2140 Full Service B&M $263,641
    Cambridge Savings Bank 54 Arsenal Street Watertown, MA 2472 Full Service B&M $127,682
    Cambridge Savings Bank 626 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $346,595
    Cambridge Savings Bank 630-632 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $151,597
    Cambridge Savings Bank 638 Main Street Melrose, MA 2176 Full Service B&M $273,879
    Cambridge Savings Bank 739 Beacon Street Newton Center, MA 2459 Full Service B&M $201,351
    Cambridge Savings Bank 81 Wyman St Waltham, MA 2451 Full Service Cyber Office $53,752

    For 2020, Cambridge Savings Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $166,104
    Net interest income $138,884
    Total noninterest income $17,860
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,060
    Trading account gains and fees $0
    Additional Noninterest Income $16,800
    Pre-tax net operating income $42,614
    Securities gains (or losses, -) $1,050
    Income before extraordinary items $34,748
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $34,748
    Minority interest net income $0
    Net income $34,748
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $33,908

    Cambridge Savings Bank's gross interest income from loans was $166,104,000.
    Cambridge Savings Bank's net interest income from loans was $138,884,000.
    Cambridge Savings Bank's fee based income from loans was $1,060,000.
    Cambridge Savings Bank's net income from loans was $34,748,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $27,220
    Provision for credit losses $16,570
    Total noninterest expense $97,560
    Salaries and employee benefits $58,174
    Premises and equipment expense $11,141
    Additional noninterest expense $28,245
    Applicable income taxes $8,916
    Net charge-offs $3,764
    Cash dividends $55,358

    Cambridge Savings Bank's interest expense for loans was $27,220,000.
    Cambridge Savings Bank's payroll and benefits expense were $58,174,000.
    Cambridge Savings Bank's property, plant and equipment expenses $11,141,000.

    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 1.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    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 1.0%

    Deposits

    Type Value (in 000's)
    Total deposits $4,082,815
    Deposits held in domestic offices $4,082,815
    Deposits by Individuals, partnerships, and corporations $4,033,501
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,996
    Deposits by Commercial banks and other depository institutions in U.S. $13,318
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $256,056
    Demand deposits $150,693
    Nontransaction accounts $3,826,759
    Money market deposit accounts (MMDAs) $2,588,574
    Other savings deposits (excluding MMDAs) $437,462
    Total time deposits $800,723
    Total time and savings deposits $3,932,122
    Noninterest-bearing deposits $933,644
    Interest-bearing deposits $3,149,171
    Retail deposits $3,779,595
    IRAs and Keogh plan accounts $105,326
    Brokered deposits $49,962
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $5,187,820
    Cash & Balances due from depository institutions $293,470
    Interest-bearing balances $274,654
    Total securities $588,353
    Federal funds sold & reverse repurchase $913
    Net loans and leases $3,997,230
    Loan and leases loss allowance $46,908
    Trading account assets $0
    Bank premises and fixed assets $58,050
    Other real estate owned $5,476
    Goodwill and other intangibles $23,831
    All other assets $220,497

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $5,187,820
    Total Liabilities $4,724,232
    Total deposits $4,082,815
    Interest-bearing deposits $3,149,171
    Deposits held in domestic offices $4,082,815
    % insured (estimated) $60
    Federal funds purchased and repurchase agreements $33,370
    Trading liabilities $0
    Other borrowed funds $502,941
    Subordinated debt $0
    All other liabilities $105,106

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $3,997,230
    Loan and leases loss allowance $46,908
    Total loans and leases (domestic) $4,044,138
    All real estate loans $3,352,507
    Real estate loans in domestic offices $3,352,507
    Construction and development loans $261,963
    Residential 1-4 family construction $58,938
    Other construction, all land development and other land $203,025
    Loans secured by nonfarm nonresidential properties $1,570,610
    Nonfarm nonresidential secured by owner-occupied properties $80,933
    Commercial real estate & other non-farm, non-residential $1,489,677
    Multifamily residential real estate $317,545
    1-4 family residential loans $1,202,389
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $663,200
    To non-U.S. addressees $0
    Loans to individuals $6,395
    Credit card loans $0
    Related Plans $843
    Consumer Auto Loans $5,274
    Other loans to individuals $278
    All other loans & leases $22,036
    Loans to foreign governments and official institutions $0
    Other loans $22,036
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $96,578
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,403
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Cambridge Savings Bank had $3,997,230,000 of loans outstanding in 2020. $3,352,507,000 of loans were in real estate loans. $261,963,000 of loans were in development loans. $317,545,000 of loans were in multifamily mortgage loans. $1,202,389,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $5,274,000 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 $47,866 $382,928
    Nonfarm, nonresidential loans - <$100k 10 $847 $84,700
    Nonfarm, nonresidential loans - $100-250k 26 $3,627 $139,500
    Nonfarm, nonresidential loans - $250k-1MM 89 $43,392 $487,551
    Commercial & Industrial, US addressed loans - <$1MM 1,782 $175,731 $98,614
    Commercial & Industrial, US addressed loans - <$100k 1,195 $24,653 $20,630
    Commercial & Industrial, US addressed loans - $100-250k 263 $29,493 $112,141
    Commercial & Industrial, US addressed loans - $250k-1MM 324 $121,585 $375,262