The Provident Bank Mortgage Rates, Fees & Info
Amesbury, MALEI: 549300GBPH5PK1AIGV76
Tax ID: 04-3497377
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Mortgage Data
Review & Overview
The Provident Bank is a smaller bank specializing in Home Purchase loans. The Provident Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Springfield, Manchester, Laconia, and Portland among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)The Provident 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.
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Originations
23Origination Dollar Volume (All Markets)
$7,435,000Top 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) | 18 | $6,160,000 | $342,222 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| Laconia, NH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $7,435,000 | $323,261 | $0 | 0.00% |
For 2019, The Provident Bank's most frequently originated type of loan was Conventional, with 23 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 16 | $6,020,000 | $376,250 | $0 | 0.00% |
| Refi | 6 | $1,160,000 | $193,333 | $0 | 0.00% |
| Home Improvement | 1 | $255,000 | $255,000 | $0 | 0.00% |
For 2019, The Provident Bank's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 23 | $7,435,000 | $323,261 | $0 | 0.00% |
For 2019, The Provident Bank's most frequently cited loan duration was Other, with 23 originations.
Loan Sizing
2019 saw The Provident Bank place emphasis on $200k-400k loans with 12 originations, totaling $3,480,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 5 | $705,000 | $141,000 | $0 | 0.00% |
| $250k+ | 1 | $235,000 | $235,000 | $0 | 0.00% |
| $50k or less | 1 | $325,000 | $325,000 | $0 | 0.00% |
The Provident Bank lent most frequently to those with incomes in the $150k-250k range, with 5 originations. The second most popular income band? $250k+, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 23 | $7,435,000 | $323,261 | $0 | 0.00% |
The Provident Bank lent most frequently to those with DTI ratios of Exempt%, with 23 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 16 | $6,170,000 | $385,625 | $0 | 0.00% |
| White | 7 | $1,265,000 | $180,714 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.86%
The Provident Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.96%
The Provident Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 23 | $7,435,000 | $323,261 |