Cambridge Savings Bank Mortgage Rates, Fees & Info
Cambridge, MALEI: 549300FHGNOLF14HHS09
Tax ID: 04-1145100
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Mortgage Data
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 Portland 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.32% | 4/28/24 |
| 30 Year Conventional Purchase | 5.88% | 4/28/24 |
| 30 Year Conventional Refi | 6.22% | 4/28/24 |
| 30 Year Cash-out Refi | 5.91% | 4/28/24 |
| 15 Year Conventional Purchase | 5.39% | 4/28/24 |
| 15 Year Conventional Refi | 6.02% | 4/28/24 |
| 15 Year Cash-out Refi | 6.02% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,370Origination Dollar Volume (All Markets)
$905,340,000Awards
Cambridge Savings Bank - 2022
Cambridge Savings Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 1,278 | $859,150,000 | $672,261 | $4,229 | 3.83% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 46 | $17,650,000 | $383,696 | $3,247 | 4.05% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 20 | $11,170,000 | $558,500 | $4,006 | 3.82% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 13 | $6,875,000 | $528,846 | $3,360 | 3.94% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $3,375,000 | $3,375,000 | $0 | 3.80% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $2,325,000 | $2,325,000 | $8,907 | 3.88% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 3 | $1,635,000 | $545,000 | $4,195 | 3.46% |
| Laconia, NH (FHA|USDA|VA) | 1 | $1,335,000 | $1,335,000 | $4,173 | 4.75% |
| Outside of Metro Areas | 2 | $1,160,000 | $580,000 | $4,509 | 4.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $2,594 | 3.34% |
| Concord, NH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 3.75% |
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.
Similarity Rank: 8
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 900 | $805,410,000 | $894,900 | $4,186 | 4.08% |
| HELOC | 470 | $99,930,000 | $212,617 | n/a | 3.38% |
For 2022, Cambridge Savings Bank's most frequently originated type of loan was Conventional, with 900 originations. Their 2nd most popular type was HELOC, with 470 originations.
Loan Reason
For 2022, Cambridge Savings Bank's most frequently cited loan purpose was Home Purchase, with 765 originations. The 2nd most popular reason was Home Improvement, with 208 originations.
Loan Duration/Length
For 2022, Cambridge Savings Bank's most frequently cited loan duration was 30 Year, with 1,267 originations. The 2nd most popular length was 15 Year, with 27 originations.
Origination Fees/Closing Costs
Cambridge Savings Bank's average total fees were $4,322, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 684 originations.
Interest Rates
During 2022, Cambridge Savings Bank's average interest rate for loans was 3.80%, while their most frequently originated rate bucket for loans was 2.5-3%, with 436 originations.
Loan Sizing
2022 saw Cambridge Savings Bank place emphasis on $600k-1MM loans with 353 originations, totaling $266,475,000 in origination value.
Applicant Income
Cambridge Savings Bank lent most frequently to those with incomes in the $250k+ range, with 477 originations. The second most popular income band? $150k-250k, with 449 originations.
Applicant Debt to Income Ratio
Cambridge Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 325 originations. The next most common DTI ratio? 30-36%, with 295 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.77%
Cambridge Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.32%
Cambridge Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,370 | $905,340,000 | $660,832 |