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, Providence, Boston, and Worcester among others. We have data for 8 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.

    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
    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

    632

    Origination Dollar Volume (All Markets)

    $100,930,000
    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) 596 $92,330,000 $154,916 $1,846 3.96%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 20 $4,340,000 $217,000 $2,400 3.85%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $1,765,000 $588,333 $2,941 4.21%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $995,000 $331,667 $2,635 3.83%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $855,000 $171,000 $2,220 3.98%
    PITTSFIELD, MA (FHA|USDA|VA) 2 $280,000 $140,000 $1,570 3.94%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $220,000 $110,000 $1,463 4.19%
    Rutland, VT (FHA|USDA|VA) 1 $145,000 $145,000 $2,117 3.75%
    Polish National's top markets include Springfield, Hartford, Providence, Boston, and Worcester among others.

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

    The Torrington Savings Bank
    Similarity Rank: 45
    Florence Bank
    Similarity Rank: 96
    SIKORSKY FINANCIAL
    Similarity Rank: 115
    Stafford Savings Bank
    Similarity Rank: 124
    HOLYOKE
    Similarity Rank: 132
    POLISH NATIONAL
    Similarity Rank: 152
    Collinsville Bank
    Similarity Rank: 156
    LUSO
    Similarity Rank: 164
    Chelsea Groton Bank
    Similarity Rank: 210
    Charter Oak Federal Credit Union
    Similarity Rank: 258

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 632 $100,930,000 $159,699 $1,871 3.95%

    For 2019, Polish National's most frequently originated type of loan was Conventional, with 632 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 254 $56,140,000 $221,024 $2,878 3.85%
    Cash Out Refi 147 $22,635,000 $153,980 $1,709 3.87%
    Refi 87 $15,755,000 $181,092 $1,710 4.00%
    Home Improvement 80 $3,430,000 $42,875 $382 4.14%
    Other 64 $2,970,000 $46,406 $379 4.27%

    For 2019, Polish National's most frequently cited loan purpose was Home Purchase, with 254 originations. The 2nd most popular reason was Cash Out Refi, with 147 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 297 $64,475,000 $217,088 $2,813 3.81%
    10 Year 89 $5,425,000 $60,955 $541 4.14%
    20 Year 87 $11,335,000 $130,287 $1,190 4.30%
    15 Year 84 $10,880,000 $129,524 $1,543 3.94%
    5 Year 61 $1,775,000 $29,098 $294 3.85%
    Other 8 $5,180,000 $647,500 $2,117 4.67%
    30+ year 6 $1,860,000 $310,000 $4,463 3.77%

    For 2019, Polish National's most frequently cited loan duration was 30 Year, with 297 originations. The 2nd most popular length was 10 Year, with 89 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 602 $93,600,000 $155,482

    Polish National's average total fees were $2,813, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 602 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 373 $70,075,000 $187,869
    4-5% 248 $28,270,000 $113,992
    5-6% 6 $1,730,000 $288,333
    2.5-3% 4 $840,000 $210,000
    6-7% 1 $15,000 $15,000

    During 2019, Polish National's average interest rate for loans was 3.81%, while their most frequently originated rate bucket for loans was 3-4%, with 373 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 232 $10,650,000 $45,905 $512 4.18%
    $100k-200k 212 $33,100,000 $156,132 $2,405 3.86%
    $200k-400k 165 $44,165,000 $267,667 $2,939 3.74%
    $400k-600k 16 $7,070,000 $441,875 $3,542 3.76%
    $600k-1MM 5 $3,605,000 $721,000 $3,905 4.45%
    $1MM+ 2 $2,340,000 $1,170,000 $0 4.88%

    2019 saw Polish National place emphasis on $100,000 or less loans with 232 originations, totaling $10,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 175 $22,215,000 $126,943 $1,860 3.92%
    $100k-150k 155 $26,195,000 $169,000 $1,855 3.90%
    $75k-100k 130 $19,030,000 $146,385 $1,810 3.98%
    $150k-250k 71 $16,535,000 $232,887 $2,307 3.87%
    $50k or less 65 $7,015,000 $107,923 $1,577 4.05%
    $250k+ 15 $3,695,000 $246,333 $2,282 3.93%

    Polish National lent most frequently to those with incomes in the $50k-75k range, with 175 originations. The second most popular income band? $100k-150k, with 155 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 173 $24,615,000 $142,283 $1,792 3.94%
    30-36% 133 $21,765,000 $163,647 $1,966 3.94%
    <20% 59 $7,215,000 $122,288 $1,676 3.96%
    42% 30 $4,170,000 $139,000 $1,653 3.97%
    41% 29 $4,625,000 $159,483 $2,023 3.92%
    39% 26 $3,520,000 $135,385 $1,643 3.92%
    38% 24 $4,630,000 $192,917 $2,456 3.92%
    36% 24 $3,930,000 $163,750 $1,771 3.88%
    40% 23 $3,455,000 $150,217 $1,435 4.11%
    37% 20 $3,350,000 $167,500 $1,981 3.96%
    45% 14 $2,370,000 $169,286 $2,037 3.88%
    43% 12 $2,340,000 $195,000 $2,217 3.81%
    46% 12 $2,170,000 $180,833 $2,169 3.81%
    44% 10 $1,810,000 $181,000 $2,274 3.71%
    >60% 8 $1,000,000 $125,000 $1,821 4.02%
    48% 7 $1,085,000 $155,000 $1,970 3.91%
    50-60% 7 $915,000 $130,714 $1,971 3.86%
    47% 5 $1,145,000 $229,000 $2,437 3.83%
    49% 2 $220,000 $110,000 $1,242 4.06%

    Polish National lent most frequently to those with DTI ratios of 20-30%, with 173 originations. The next most common DTI ratio? 30-36%, with 133 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 572 $86,230,000 $150,752 $1,859 3.95%
    Not provided 34 $7,080,000 $208,235 $2,123 3.79%
    Not applicable 10 $5,220,000 $522,000 $0 4.84%
    Black 9 $1,365,000 $151,667 $1,742 4.08%
    Asian 6 $1,010,000 $168,333 $2,051 3.85%
    American Indian 1 $25,000 $25,000 $276 3.75%

    Approval Rates

    Total approvals of all applications
    89.87%

    Polish National has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.08%

    Polish National has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 632 $100,930,000 $159,699

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $2,805,000 $561,000
    Single Family (1-4 Units):Site-Built 627 $98,125,000 $156,499

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 74 $6,400,000 $86,486 $649 4.28%
    40-60% 57 $8,405,000 $147,456 $1,997 3.90%
    60-80% 170 $37,180,000 $218,706 $2,672 3.77%
    80-100% 181 $43,235,000 $238,867 $2,845 3.82%
    Over 100% 1 $265,000 $265,000 $3,972 3.75%
    Under 20% 147 $4,885,000 $33,231 $310 4.17%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    PLAZA HOME MORTGAGE, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.0%
    PLAZA HOME MORTGAGE, INC. Conventional home mortgage Struggling to pay mortgage 1 4.0%
    PLAZA HOME MORTGAGE, INC. Conventional home mortgage Trouble during payment process 5 20.0%
    PLAZA HOME MORTGAGE, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.0%
    PLAZA HOME MORTGAGE, INC. FHA mortgage Closing on a mortgage 4 16.0%
    PLAZA HOME MORTGAGE, INC. FHA mortgage Problem with a credit reporting company's investigation into an existing problem 1 4.0%
    PLAZA HOME MORTGAGE, INC. FHA mortgage Struggling to pay mortgage 2 8.0%
    PLAZA HOME MORTGAGE, INC. FHA mortgage Trouble during payment process 4 16.0%
    PLAZA HOME MORTGAGE, INC. Other type of mortgage Closing on a mortgage 2 8.0%
    PLAZA HOME MORTGAGE, INC. Reverse mortgage Struggling to pay mortgage 1 4.0%
    PLAZA HOME MORTGAGE, INC. VA mortgage Incorrect information on your report 1 4.0%
    PLAZA HOME MORTGAGE, INC. VA mortgage Trouble during payment process 2 8.0%