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 Manchester among others. We have data for 11 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

    1,258

    Origination Dollar Volume (All Markets)

    $947,380,000

    Employee count

    450

    Awards

    Cambridge Savings Bank 30 Year Conventional Loans silver Cambridge Savings Bank 30 Year Conventional Loans silver
    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) 1,159 $900,095,000 $776,613 $3,307 2.98%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 31 $18,885,000 $609,194 $3,396 2.98%
    WORCESTER, MA-CT (FHA|USDA|VA) 40 $16,470,000 $411,750 $2,931 2.99%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $3,545,000 $393,889 $3,122 3.32%
    Outside of Metro Areas 2 $2,510,000 $1,255,000 $5,554 2.75%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $1,815,000 $363,000 $2,617 2.78%
    SPRINGFIELD, MA (FHA|USDA|VA) 6 $1,300,000 $216,667 $2,624 2.98%
    Vineyard Haven, MA (FHA|USDA|VA) 2 $1,280,000 $640,000 $4,104 2.88%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $555,000 $555,000 $0 2.88%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $530,000 $265,000 $2,482 2.75%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $395,000 $395,000 $3,020 2.63%
    Cambridge Savings Bank's top markets include Boston, Barnstable Town, Worcester, Providence, and Manchester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Connecticut (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: 87
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396
    OCEAN STATE CREDIT UNION
    Similarity Rank: 405
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Rhode Island Credit Union
    Similarity Rank: 524
    Sharon & Crescent United Credit Union
    Similarity Rank: 540
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 596
    WESTERLY COMMUNITY
    Similarity Rank: 618
    East Boston Savings Bank
    Similarity Rank: 755

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,258 $947,380,000 $753,084 $3,293 2.98%

    For 2021, Cambridge Savings Bank's most frequently originated type of loan was Conventional, with 1,258 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 574 $554,310,000 $965,697 $3,892 3.04%
    Refi 426 $227,660,000 $534,413 $2,798 2.84%
    Cash Out Refi 247 $158,355,000 $641,113 $2,834 3.04%
    Home Improvement 10 $7,010,000 $701,000 $2,456 4.05%
    Other 1 $45,000 $45,000 $0 5.25%

    For 2021, Cambridge Savings Bank's most frequently cited loan purpose was Home Purchase, with 574 originations. The 2nd most popular reason was Refi, with 426 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 957 $603,215,000 $630,319 $3,514 3.01%
    15 Year 160 $63,100,000 $394,375 $2,583 2.52%
    20 Year 63 $33,915,000 $538,333 $2,600 2.98%
    Other 35 $180,475,000 $5,156,429 $2,224 4.14%
    10 Year 33 $19,645,000 $595,303 $2,105 2.88%
    5 Year 6 $38,160,000 $6,360,000 $0 4.04%
    3 Year 3 $8,295,000 $2,765,000 $0 4.25%
    1 Year 1 $575,000 $575,000 $0 5.00%

    For 2021, Cambridge Savings Bank's most frequently cited loan duration was 30 Year, with 957 originations. The 2nd most popular length was 15 Year, with 160 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 989 $592,125,000 $598,711
    $1k-2k 68 $26,040,000 $382,941
    $2k-3k 17 $7,685,000 $452,059
    $5k+ 10 $6,390,000 $639,000
    $4k-5k 6 $2,470,000 $411,667
    $3k-4k 3 $1,215,000 $405,000

    Cambridge Savings Bank's average total fees were $3,514, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 989 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 713 $494,825,000 $694,004
    3-4% 305 $314,235,000 $1,030,279
    <2.5% 182 $83,260,000 $457,473
    4-5% 37 $47,855,000 $1,293,378
    5-6% 21 $7,205,000 $343,095

    During 2021, Cambridge Savings Bank's average interest rate for loans was 3.01%, while their most frequently originated rate bucket for loans was 2.5-3%, with 713 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 341 $258,745,000 $758,783 $3,861 2.94%
    $400k-600k 324 $161,910,000 $499,722 $3,150 2.89%
    $200k-400k 320 $96,900,000 $302,813 $2,531 2.92%
    $1MM+ 166 $415,630,000 $2,503,795 $5,506 3.17%
    $100k-200k 83 $12,735,000 $153,434 $1,754 3.08%
    $100,000 or less 24 $1,460,000 $60,833 $406 4.05%

    2021 saw Cambridge Savings Bank place emphasis on $600k-1MM loans with 341 originations, totaling $258,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 379 $314,345,000 $829,406 $3,922 2.97%
    $150k-250k 358 $213,330,000 $595,894 $3,365 2.90%
    $100k-150k 260 $112,130,000 $431,269 $2,969 2.95%
    $75k-100k 113 $38,485,000 $340,575 $2,699 2.91%
    $50k-75k 85 $20,835,000 $245,118 $2,367 2.82%
    $50k or less 15 $3,265,000 $217,667 $2,423 2.98%

    Cambridge Savings Bank lent most frequently to those with incomes in the $250k+ range, with 379 originations. The second most popular income band? $150k-250k, with 358 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 330 $186,630,000 $565,545 $3,188 2.90%
    30-36% 284 $175,080,000 $616,479 $3,444 2.91%
    <20% 159 $85,315,000 $536,572 $3,075 2.87%
    39% 56 $33,660,000 $601,071 $3,600 3.07%
    37% 50 $29,320,000 $586,400 $3,677 2.90%
    41% 47 $30,815,000 $655,638 $3,538 2.95%
    38% 47 $30,085,000 $640,106 $3,558 3.08%
    40% 47 $30,435,000 $647,553 $3,377 2.99%
    36% 39 $26,445,000 $678,077 $3,353 2.91%
    42% 38 $26,390,000 $694,474 $3,524 3.04%
    44% 26 $10,180,000 $391,538 $2,744 2.92%
    43% 23 $9,475,000 $411,957 $2,825 3.04%
    45% 18 $7,750,000 $430,556 $2,563 2.95%
    46% 15 $6,095,000 $406,333 $2,703 3.06%
    49% 12 $3,910,000 $325,833 $2,501 2.82%
    47% 10 $5,140,000 $514,000 $3,706 3.00%
    48% 8 $3,370,000 $421,250 $3,069 2.84%

    Cambridge Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 330 originations. The next most common DTI ratio? 30-36%, with 284 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 852 $471,490,000 $553,392 $3,197 2.92%
    Not applicable 48 $244,990,000 $5,103,958 $0 4.24%
    Not provided 201 $137,805,000 $685,597 $3,589 2.94%
    Asian 118 $76,190,000 $645,678 $3,547 2.95%
    Black 38 $16,270,000 $428,158 $3,120 3.12%
    Asian Indian 1 $635,000 $635,000 $3,638 2.88%

    Approval Rates

    Total approvals of all applications
    95.72%

    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
    89.67%

    Cambridge Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,258 $947,380,000 $753,084

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,258 $947,380,000 $753,084

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 165 $58,535,000 $354,758 $2,559 2.87%
    40-60% 292 $296,410,000 $1,015,103 $2,946 2.94%
    60-80% 476 $395,520,000 $830,924 $3,598 3.01%
    80-100% 259 $180,365,000 $696,390 $4,011 2.87%
    Over 100% 1 $2,125,000 $2,125,000 $0 4.75%
    Under 20% 65 $14,425,000 $221,923 $1,411 3.61%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cambridge Savings Bank 1 Thompson Square Charlestown, MA 2129 Full Service B&M $34,828
    Cambridge Savings Bank 1300 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $153,504
    Cambridge Savings Bank 1374 Massachusetts Ave Cambridge, MA 2138 Full Service B&M $1,329,915
    Cambridge Savings Bank 1378 Cambridge Street Cambridge, MA 2139 Full Service B&M $111,615
    Cambridge Savings Bank 140 Middlesex Turnpike Burlington, MA 1803 Full Service B&M $101,278
    Cambridge Savings Bank 154 Cambridge St Burlington, MA 1803 Full Service B&M $189,772
    Cambridge Savings Bank 1781 Massachusetts Avenue Lexington, MA 2420 Full Service B&M $235,078
    Cambridge Savings Bank 181 Great Road Bedford, MA 1730 Full Service B&M $151,473
    Cambridge Savings Bank 188 Massachusetts Avenue Arlington, MA 2474 Full Service B&M $192,396
    Cambridge Savings Bank 202 Sudbury Road Concord, MA 1742 Full Service B&M $159,882
    Cambridge Savings Bank 40 Leonard Street Belmont, MA 2478 Full Service B&M $224,376
    Cambridge Savings Bank 53 White Street Cambridge, MA 2140 Full Service B&M $280,987
    Cambridge Savings Bank 54 Arsenal Street Watertown, MA 2472 Full Service B&M $188,904
    Cambridge Savings Bank 626 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $402,597
    Cambridge Savings Bank 630-632 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $163,653
    Cambridge Savings Bank 638 Main Street Melrose, MA 2176 Full Service B&M $242,684
    Cambridge Savings Bank 739 Beacon Street Newton Center, MA 2459 Full Service B&M $220,197
    Cambridge Savings Bank 81 Wyman St Waltham, MA 2451 Full Service Cyber Office $62,791
    Cambridge Savings Bank 81 Wyman Street Waltham, MA 2451 Full Service Cyber Office $1,758

    For 2021, Cambridge Savings Bank had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $168,503
    Net interest income $152,211
    Total noninterest income $20,013
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,017
    Trading account gains and fees $0
    Additional Noninterest Income $17,996
    Pre-tax net operating income $57,796
    Securities gains (or losses, -) $2,842
    Income before extraordinary items $47,337
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $47,337
    Minority interest net income $0
    Net income $47,337
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $45,091

    Cambridge Savings Bank's gross interest income from loans was $168,503,000.
    Cambridge Savings Bank's net interest income from loans was $152,211,000.
    Cambridge Savings Bank's fee based income from loans was $2,017,000.
    Cambridge Savings Bank's net income from loans was $47,337,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $16,292
    Provision for credit losses $2,400
    Total noninterest expense $112,028
    Salaries and employee benefits $67,048
    Premises and equipment expense $11,252
    Additional noninterest expense $33,728
    Applicable income taxes $13,301
    Net charge-offs $254
    Cash dividends $0

    Cambridge Savings Bank's interest expense for loans was $16,292,000.
    Cambridge Savings Bank's payroll and benefits expense were $67,048,000.
    Cambridge Savings Bank's property, plant and equipment expenses $11,252,000.

    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 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 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $4,443,661
    Deposits held in domestic offices $4,443,661
    Deposits by Individuals, partnerships, and corporations $4,334,023
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $75,873
    Deposits by Commercial banks and other depository institutions in U.S. $33,760
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,653,524
    Demand deposits $1,082,437
    Nontransaction accounts $2,790,137
    Money market deposit accounts (MMDAs) $1,591,192
    Other savings deposits (excluding MMDAs) $515,454
    Total time deposits $683,490
    Total time and savings deposits $3,361,224
    Noninterest-bearing deposits $1,082,437
    Interest-bearing deposits $3,361,224
    Retail deposits $4,207,738
    IRAs and Keogh plan accounts $100,590
    Brokered deposits $29,993
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $5,339,773
    Cash & Balances due from depository institutions $260,454
    Interest-bearing balances $241,168
    Total securities $596,247
    Federal funds sold & reverse repurchase $0
    Net loans and leases $4,197,424
    Loan and leases loss allowance $49,054
    Trading account assets $0
    Bank premises and fixed assets $58,098
    Other real estate owned $0
    Goodwill and other intangibles $24,463
    All other assets $203,087

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $5,339,773
    Total Liabilities $4,830,126
    Total deposits $4,443,661
    Interest-bearing deposits $3,361,224
    Deposits held in domestic offices $4,443,661
    % insured (estimated) $58
    Federal funds purchased and repurchase agreements $34,688
    Trading liabilities $0
    Other borrowed funds $270,822
    Subordinated debt $0
    All other liabilities $80,955

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $4,197,424
    Loan and leases loss allowance $49,054
    Total loans and leases (domestic) $4,246,478
    All real estate loans $3,566,029
    Real estate loans in domestic offices $3,566,029
    Construction and development loans $250,421
    Residential 1-4 family construction $55,544
    Other construction, all land development and other land $194,877
    Loans secured by nonfarm nonresidential properties $1,650,974
    Nonfarm nonresidential secured by owner-occupied properties $95,633
    Commercial real estate & other non-farm, non-residential $1,555,341
    Multifamily residential real estate $358,333
    1-4 family residential loans $1,306,301
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $663,173
    To non-U.S. addressees $0
    Loans to individuals $5,433
    Credit card loans $0
    Related Plans $1,044
    Consumer Auto Loans $4,054
    Other loans to individuals $335
    All other loans & leases $11,843
    Loans to foreign governments and official institutions $0
    Other loans $11,843
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $95,649
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $878
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Cambridge Savings Bank had $4,197,424,000 of loans outstanding in 2021. $3,566,029,000 of loans were in real estate loans. $250,421,000 of loans were in development loans. $358,333,000 of loans were in multifamily mortgage loans. $1,306,301,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,054,000 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 115 $42,503 $369,591
    Nonfarm, nonresidential loans - <$100k 12 $916 $76,333
    Nonfarm, nonresidential loans - $100-250k 24 $3,177 $132,375
    Nonfarm, nonresidential loans - $250k-1MM 79 $38,410 $486,203
    Commercial & Industrial, US addressed loans - <$1MM 1,275 $119,995 $94,114
    Commercial & Industrial, US addressed loans - <$100k 823 $13,426 $16,313
    Commercial & Industrial, US addressed loans - $100-250k 179 $19,100 $106,704
    Commercial & Industrial, US addressed loans - $250k-1MM 273 $87,469 $320,399