Bridgewater Savings Bank Mortgage Rates, Fees & Info

Raynham, MA

LEI: 549300GBZNWRGLS7CP89

Tax ID: 04-1118820

5 stars - out of 5 stars, based on 22 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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)

    • Review & Overview

    Bridgewater Savings Bank is a smaller bank specializing in loans. Bridgewater Savings Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Boston, Providence, Worcester, Barnstable Town, and Manchester among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bridgewater 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. Bridgewater 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
    30 Year Conventional Purchase 5.94% 3/24/23
    30 Year Conventional Refi 6.04% 3/24/23
    30 Year Cash-out Refi 5.98% 3/24/23
    30 Year FHA Purchase 6.76% 3/24/23
    30 Year VA Purchase 6.46% 3/24/23
    15 Year Conventional Purchase 4.54% 3/24/23
    15 Year Conventional Refi 5.48% 3/24/23
    15 Year Cash-out Refi 5.48% 3/24/23
    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.


    Originations

    491

    Origination Dollar Volume (All Markets)

    $257,605,000
    Show all (11) awards

    Relative Rate

    Bridgewater Savings Bank's average 30 year fixed mortgage rate was 4.15%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.61%.

    Relative Fees (Closing Costs)

    Bridgewater Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,093.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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) 344 $197,870,000 $575,203 $3,496 4.29%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 104 $41,080,000 $395,000 $3,113 4.24%
    WORCESTER, MA-CT (FHA|USDA|VA) 24 $10,410,000 $433,750 $3,711 3.91%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 16 $7,490,000 $468,125 $4,396 3.83%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $650,000 $325,000 $2,957 5.00%
    Berlin, NH (FHA|USDA|VA) 1 $105,000 $105,000 $1,915 5.50%
    Bridgewater Savings Bank's top markets include Boston, Providence, Worcester, Barnstable Town, and Manchester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Similar Lenders

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

    Homestar Mortgage, Inc.
    Similarity Rank: 52
    SOMERSET
    Similarity Rank: 87
    OCEAN STATE CREDIT UNION
    Similarity Rank: 360
    Rhode Island Credit Union
    Similarity Rank: 393
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396
    Sharon & Crescent United Credit Union
    Similarity Rank: 432
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Piscataqua Savings Bank
    Similarity Rank: 526
    ATHOL CREDIT UNION
    Similarity Rank: 783
    Walpole Co-operative Bank
    Similarity Rank: 789

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 483 $254,265,000 $526,429 $3,355 4.25%
    VA 5 $2,155,000 $431,000 $7,170 4.35%
    FHA 3 $1,185,000 $395,000 $10,338 3.75%

    For 2022, Bridgewater Savings Bank's most frequently originated type of loan was Conventional, with 483 originations. Their 2nd most popular type was VA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 284 $173,020,000 $609,225 $4,328 4.33%
    Refi 83 $50,415,000 $607,410 $2,209 3.73%
    Cash Out Refi 70 $24,480,000 $349,714 $3,157 3.90%
    Home Improvement 33 $7,705,000 $233,485 $904 4.94%
    Other 21 $1,985,000 $94,524 $454 5.37%

    For 2022, Bridgewater Savings Bank's most frequently cited loan purpose was Home Purchase, with 284 originations. The 2nd most popular reason was Refi, with 83 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 314 $156,360,000 $497,962 $4,093 4.15%
    Other 51 $20,505,000 $402,059 $2,138 4.83%
    10 Year 48 $31,040,000 $646,667 $746 4.33%
    15 Year 39 $30,785,000 $789,359 $1,623 3.64%
    20 Year 34 $16,120,000 $474,118 $919 4.82%
    1 Year 3 $1,885,000 $628,333 $0 5.17%
    5 Year 2 $910,000 $455,000 $0 4.00%

    For 2022, Bridgewater Savings Bank's most frequently cited loan duration was 30 Year, with 314 originations. The 2nd most popular length was Other, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 310 $124,270,000 $400,871
    $1k-2k 53 $28,675,000 $541,038
    $5k+ 11 $6,475,000 $588,636
    $2k-3k 5 $1,815,000 $363,000
    $4k-5k 4 $1,660,000 $415,000
    $3k-4k 1 $215,000 $215,000

    Bridgewater Savings Bank's average total fees were $4,093, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 310 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 160 $119,360,000 $746,000
    4-5% 148 $69,970,000 $472,770
    5-6% 86 $29,570,000 $343,837
    2.5-3% 53 $23,865,000 $450,283
    6-7% 25 $10,935,000 $437,400
    <2.5% 16 $2,280,000 $142,500
    7-8% 3 $1,625,000 $541,667

    During 2022, Bridgewater Savings Bank's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 3-4%, with 160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 137 $41,045,000 $299,599 $3,394 4.27%
    $600k-1MM 102 $74,960,000 $734,902 $4,486 4.08%
    $400k-600k 95 $46,665,000 $491,211 $4,249 4.15%
    $100k-200k 66 $9,580,000 $145,152 $1,895 4.21%
    $100,000 or less 51 $2,955,000 $57,941 $277 4.82%
    $1MM+ 40 $82,400,000 $2,060,000 $7,341 4.21%

    2022 saw Bridgewater Savings Bank place emphasis on $200k-400k loans with 137 originations, totaling $41,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 122 $60,530,000 $496,148 $3,735 4.34%
    $100k-150k 113 $39,115,000 $346,150 $3,218 4.21%
    $250k+ 62 $44,370,000 $715,645 $4,540 4.14%
    $50k-75k 61 $10,465,000 $171,557 $2,385 4.10%
    $75k-100k 60 $15,520,000 $258,667 $3,165 4.39%
    $50k or less 14 $1,770,000 $126,429 $2,370 4.15%

    Bridgewater Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 122 originations. The second most popular income band? $100k-150k, with 113 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 96 $40,420,000 $421,042 $3,226 4.03%
    30-36% 85 $34,435,000 $405,118 $3,648 4.15%
    44% 29 $9,745,000 $336,034 $2,793 4.40%
    43% 24 $8,560,000 $356,667 $3,040 4.40%
    <20% 24 $9,020,000 $375,833 $3,264 4.07%
    42% 21 $9,015,000 $429,286 $4,377 4.30%
    38% 21 $10,435,000 $496,905 $4,266 4.29%
    39% 20 $7,480,000 $374,000 $4,880 4.64%
    41% 18 $8,490,000 $471,667 $3,182 4.21%
    37% 18 $6,660,000 $370,000 $3,264 4.33%
    40% 18 $7,230,000 $401,667 $3,190 4.29%
    36% 15 $7,305,000 $487,000 $4,648 3.87%
    48% 13 $4,005,000 $308,077 $3,150 4.00%
    45% 11 $3,025,000 $275,000 $2,318 4.47%
    47% 8 $2,470,000 $308,750 $3,149 5.26%
    49% 8 $2,620,000 $327,500 $3,274 4.84%
    46% 7 $1,835,000 $262,143 $2,599 4.82%

    Bridgewater Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 96 originations. The next most common DTI ratio? 30-36%, with 85 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 320 $130,860,000 $408,938 $3,497 4.20%
    Not applicable 51 $81,955,000 $1,606,961 $0 4.39%
    Not provided 85 $27,855,000 $327,706 $2,585 4.44%
    Black 18 $8,290,000 $460,556 $6,628 4.22%
    Asian Indian 7 $4,105,000 $586,429 $3,810 3.59%
    Asian 8 $3,170,000 $396,250 $3,360 4.25%
    Native Hawaiian or Islander 1 $975,000 $975,000 $0 4.25%
    American Indian 1 $395,000 $395,000 $3,379 3.75%

    Approval Rates

    Total approvals of all applications
    90.34%

    Bridgewater Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.00%

    Bridgewater Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1375.0 1 $105,000 $105,000
    375.0 36 $5,710,000 $158,611
    NA 454 $251,790,000 $554,604

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    491 $257,605,000 $524,654

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $14,665,000 $225,615 $2,109 4.12%
    40-60% 75 $37,275,000 $497,000 $3,084 4.05%
    60-80% 178 $135,710,000 $762,416 $3,983 4.14%
    80-100% 124 $66,850,000 $539,113 $4,732 4.29%
    Under 20% 49 $3,105,000 $63,367 $232 5.02%