Polish National Mortgage Rates, Fees & Info

Chicopee, MA

LEI: 549300FQS3UXEAID1Q88

Tax ID: 04-1734980

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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)

    • Review & Overview

    Polish National is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Polish National has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Pittsfield, Boston, and Worcester among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Polish National has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Polish National 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
    30 Year Conventional Purchase 6.44% 11/21/24
    30 Year Conventional Refi 6.44% 11/21/24
    30 Year Cash-out Refi 6.39% 11/21/24
    15 Year Conventional Purchase 5.99% 11/21/24
    15 Year Conventional Refi 5.84% 11/21/24
    15 Year Cash-out Refi 5.84% 11/21/24
    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.

    Polish National Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Polish National. 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

    538

    Origination Dollar Volume (All Markets)

    $75,900,000
    Show all (5) 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
    SPRINGFIELD, MA (FHA|USDA|VA) 502 $69,030,000 $137,510 $1,607 4.12%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 25 $5,475,000 $219,000 $2,431 3.99%
    PITTSFIELD, MA (FHA|USDA|VA) 7 $625,000 $89,286 $1,528 3.59%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $425,000 $425,000 $3,866 3.25%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $200,000 $100,000 $1,199 4.75%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $145,000 $145,000 $2,765 4.38%
    Polish National's top markets include Springfield, Hartford, Pittsfield, Boston, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)

    • Similar Lenders

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

    Stafford Savings Bank
    Similarity Rank: 68
    Charter Oak Federal Credit Union
    Similarity Rank: 78
    POLISH NATIONAL
    Similarity Rank: 108
    Thomaston Savings Bank
    Similarity Rank: 112
    The Torrington Savings Bank
    Similarity Rank: 120
    Sanborn Mortgage Corporation
    Similarity Rank: 160
    Florence Bank
    Similarity Rank: 168
    Workers Credit Union
    Similarity Rank: 168
    HOLYOKE
    Similarity Rank: 228
    Country Bank for Savings
    Similarity Rank: 232

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 538 $75,900,000 $141,078 $1,649 4.11%

    For 2018, Polish National's most frequently originated type of loan was Conventional, with 538 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 199 $44,725,000 $224,749 $2,835 4.39%
    Cash Out Refi 135 $15,965,000 $118,259 $1,290 3.91%
    Home Improvement 77 $3,055,000 $39,675 $322 3.95%
    Refi 69 $9,665,000 $140,072 $1,643 3.87%
    Other 58 $2,490,000 $42,931 $376 4.08%

    For 2018, Polish National's most frequently cited loan purpose was Home Purchase, with 199 originations. The 2nd most popular reason was Cash Out Refi, with 135 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 208 $43,810,000 $210,625 $2,774 4.01%
    10 Year 108 $5,600,000 $51,852 $425 3.95%
    15 Year 101 $10,065,000 $99,653 $1,121 4.13%
    20 Year 56 $10,480,000 $187,143 $2,189 4.36%
    5 Year 55 $1,725,000 $31,364 $291 3.40%
    Other 6 $3,430,000 $571,667 $2,614 13.77%
    30+ year 2 $640,000 $320,000 $0 4.69%
    3 Year 1 $15,000 $15,000 $296 3.88%
    1 Year 1 $135,000 $135,000 $0 5.00%

    For 2018, Polish National's most frequently cited loan duration was 30 Year, with 208 originations. The 2nd most popular length was 10 Year, with 108 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 516 $69,400,000 $134,496
    $4k-5k 2 $450,000 $225,000
    $1k-2k 1 $195,000 $195,000

    Polish National's average total fees were $2,774, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 516 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 249 $33,315,000 $133,795
    4-5% 221 $32,835,000 $148,575
    2.5-3% 42 $4,080,000 $97,143
    5-6% 20 $4,280,000 $214,000
    <2.5% 4 $1,220,000 $305,000
    6-7% 1 $45,000 $45,000
    Over 8% 1 $125,000 $125,000

    During 2018, Polish National's average interest rate for loans was 4.01%, while their most frequently originated rate bucket for loans was 3-4%, with 249 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 232 $10,040,000 $43,276 $560 3.99%
    $100k-200k 171 $25,095,000 $146,754 $2,169 4.39%
    $200k-400k 121 $31,805,000 $262,851 $2,918 3.93%
    $400k-600k 11 $5,185,000 $471,364 $3,326 3.99%
    $600k-1MM 2 $1,350,000 $675,000 $3,975 4.59%
    $1MM+ 1 $2,425,000 $2,425,000 $0 5.25%

    2018 saw Polish National place emphasis on $100,000 or less loans with 232 originations, totaling $10,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 133 $19,835,000 $149,135 $1,720 3.87%
    $50k-75k 130 $15,500,000 $119,231 $1,670 4.04%
    $75k-100k 98 $12,560,000 $128,163 $1,710 3.89%
    $50k or less 90 $8,190,000 $91,000 $1,397 4.82%
    $150k-250k 57 $10,225,000 $179,386 $1,689 3.99%
    $250k+ 17 $4,575,000 $269,118 $1,942 3.79%

    Polish National lent most frequently to those with incomes in the $100k-150k range, with 133 originations. The second most popular income band? $50k-75k, with 130 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 136 $16,480,000 $121,176 $1,472 4.00%
    30-36% 110 $15,530,000 $141,182 $1,743 3.98%
    <20% 59 $6,645,000 $112,627 $1,392 3.75%
    41% 29 $4,755,000 $163,966 $1,770 3.90%
    38% 24 $2,750,000 $114,583 $1,160 4.00%
    40% 24 $3,460,000 $144,167 $1,851 4.00%
    39% 20 $3,610,000 $180,500 $2,234 3.89%
    37% 20 $1,870,000 $93,500 $1,301 4.09%
    36% 19 $3,435,000 $180,789 $2,339 3.88%
    43% 14 $1,920,000 $137,143 $1,707 4.12%
    42% 13 $1,175,000 $90,385 $1,150 4.12%
    44% 11 $1,495,000 $135,909 $2,022 4.00%
    47% 11 $1,965,000 $178,636 $2,308 4.24%
    48% 7 $1,065,000 $152,143 $2,339 4.18%
    45% 7 $1,145,000 $163,571 $2,093 3.99%
    50-60% 7 $1,445,000 $206,429 $2,639 3.88%
    >60% 4 $1,050,000 $262,500 $2,486 4.28%
    46% 2 $220,000 $110,000 $295 4.25%
    49% 1 $25,000 $25,000 $274 3.75%

    Polish National lent most frequently to those with DTI ratios of 20-30%, with 136 originations. The next most common DTI ratio? 30-36%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 410 $55,000,000 $134,146 $1,639 4.13%
    Not provided 103 $12,715,000 $123,447 $1,574 4.00%
    Not applicable 8 $4,730,000 $591,250 $0 5.33%
    Black 8 $1,470,000 $183,750 $2,020 3.91%
    Asian 4 $1,000,000 $250,000 $2,873 3.59%
    Other Asian 2 $580,000 $290,000 $3,149 3.13%
    American Indian 3 $405,000 $135,000 $1,873 3.58%

    Approval Rates

    Total approvals of all applications
    89.21%

    Polish National has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.62%

    Polish National has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 538 $75,900,000 $141,078

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $4,345,000 $869,000
    Single Family (1-4 Units):Site-Built 533 $71,555,000 $134,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 79 $5,395,000 $68,291 $688 3.98%
    40-60% 58 $7,990,000 $137,759 $1,727 4.15%
    60-80% 134 $27,810,000 $207,537 $2,570 4.36%
    80-100% 128 $30,520,000 $238,438 $2,828 4.04%
    Under 20% 139 $4,185,000 $30,108 $295 3.98%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    PLAZA HOME MORTGAGE, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 15.8%
    PLAZA HOME MORTGAGE, INC. Conventional home mortgage Closing on a mortgage 1 5.3%
    PLAZA HOME MORTGAGE, INC. Conventional home mortgage Struggling to pay mortgage 1 5.3%
    PLAZA HOME MORTGAGE, INC. Conventional home mortgage Trouble during payment process 4 21.1%
    PLAZA HOME MORTGAGE, INC. FHA mortgage Struggling to pay mortgage 2 10.5%
    PLAZA HOME MORTGAGE, INC. FHA mortgage Trouble during payment process 2 10.5%
    PLAZA HOME MORTGAGE, INC. Other type of mortgage Struggling to pay mortgage 1 5.3%
    PLAZA HOME MORTGAGE, INC. Other type of mortgage Trouble during payment process 1 5.3%
    PLAZA HOME MORTGAGE, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 10.5%
    PLAZA HOME MORTGAGE, INC. VA mortgage Closing on a mortgage 1 5.3%
    PLAZA HOME MORTGAGE, INC. VA mortgage Trouble during payment process 1 5.3%