Bridgewater Savings Bank Mortgage Rates, Fees & Info

Raynham, MA

LEI: 549300GBZNWRGLS7CP89

Tax ID: 04-1118820

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Bridgewater Savings Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.94% 4/21/24
    30 Year Conventional Refi 6.04% 4/21/24
    30 Year Cash-out Refi 5.98% 4/21/24
    30 Year FHA Purchase 6.76% 4/21/24
    30 Year VA Purchase 6.46% 4/21/24
    15 Year Conventional Purchase 4.54% 4/21/24
    15 Year Conventional Refi 5.48% 4/21/24
    15 Year Cash-out Refi 5.48% 4/21/24
    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.

    Bridgewater Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bridgewater Savings Bank. 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

    1,718

    Origination Dollar Volume (All Markets)

    $608,990,000

    Employee count

    195 Show all (15) 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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1,318 $487,680,000 $370,015 $2,691 3.03%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 282 $82,020,000 $290,851 $2,612 2.83%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 68 $22,670,000 $333,382 $2,571 2.86%
    WORCESTER, MA-CT (FHA|USDA|VA) 41 $14,745,000 $359,634 $2,430 2.83%
    Vineyard Haven, MA (FHA|USDA|VA) 3 $1,035,000 $345,000 $2,107 3.08%
    SPRINGFIELD, MA (FHA|USDA|VA) 6 $840,000 $140,000 $2,000 2.85%
    Bridgewater Savings Bank's top markets include Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (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: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Triangle Credit Union
    Similarity Rank: 696
    CorePlus Federal Credit Union
    Similarity Rank: 710
    NEW HAMPSHIRE
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,682 $595,430,000 $354,001 $2,568 2.99%
    FHA 19 $6,905,000 $363,421 $9,555 2.72%
    VA 16 $6,350,000 $396,875 $4,002 2.60%
    USDA 1 $305,000 $305,000 $3,430 2.25%

    For 2020, Bridgewater Savings Bank's most frequently originated type of loan was Conventional, with 1,682 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 900 $315,760,000 $350,844 $2,361 2.94%
    Home Purchase 414 $152,860,000 $369,227 $3,472 2.99%
    Cash Out Refi 384 $136,520,000 $355,521 $2,561 3.05%
    Home Improvement 10 $1,740,000 $174,000 $1,993 3.61%
    Other 10 $2,110,000 $211,000 $2,112 3.05%

    For 2020, Bridgewater Savings Bank's most frequently cited loan purpose was Refi, with 900 originations. The 2nd most popular reason was Home Purchase, with 414 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,257 $480,725,000 $382,438 $2,807 3.02%
    15 Year 263 $69,355,000 $263,707 $2,141 2.56%
    20 Year 119 $36,445,000 $306,261 $2,384 2.97%
    Other 56 $15,030,000 $268,393 $2,368 3.91%
    10 Year 18 $5,660,000 $314,444 $2,258 3.01%
    1 Year 5 $1,775,000 $355,000 $0 4.65%

    For 2020, Bridgewater Savings Bank's most frequently cited loan duration was 30 Year, with 1,257 originations. The 2nd most popular length was 15 Year, with 263 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,546 $549,860,000 $355,666
    $1k-2k 79 $31,675,000 $400,949
    $2k-3k 11 $3,875,000 $352,273
    $3k-4k 3 $965,000 $321,667
    $4k-5k 1 $515,000 $515,000
    $5k+ 1 $695,000 $695,000

    Bridgewater Savings Bank's average total fees were $2,807, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,546 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 844 $277,900,000 $329,265
    3-4% 551 $242,955,000 $440,935
    <2.5% 275 $78,125,000 $284,091
    4-5% 36 $8,150,000 $226,389
    5-6% 12 $1,860,000 $155,000

    During 2020, Bridgewater Savings Bank's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 844 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 899 $269,435,000 $299,705 $2,517 2.93%
    $400k-600k 447 $209,505,000 $468,691 $2,959 3.00%
    $100k-200k 218 $34,620,000 $158,807 $2,266 2.94%
    $600k-1MM 102 $75,340,000 $738,627 $3,652 3.31%
    $100,000 or less 38 $1,910,000 $50,263 $871 3.25%
    $1MM+ 14 $18,180,000 $1,298,571 $4,965 3.37%

    2020 saw Bridgewater Savings Bank place emphasis on $200k-400k loans with 899 originations, totaling $269,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 472 $195,840,000 $414,915 $2,653 2.97%
    $100k-150k 464 $158,020,000 $340,560 $2,672 2.99%
    $75k-100k 316 $92,860,000 $293,861 $2,694 2.92%
    $50k-75k 209 $47,565,000 $227,584 $2,459 2.96%
    $250k+ 173 $93,995,000 $543,324 $3,040 3.02%
    $50k or less 56 $9,010,000 $160,893 $2,251 3.12%

    Bridgewater Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 472 originations. The second most popular income band? $100k-150k, with 464 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 520 $183,900,000 $353,654 $2,515 2.93%
    30-36% 309 $112,695,000 $364,709 $2,694 3.00%
    <20% 189 $65,595,000 $347,063 $2,578 2.86%
    39% 72 $24,110,000 $334,861 $2,641 3.01%
    43% 69 $25,985,000 $376,594 $2,845 3.06%
    40% 67 $22,055,000 $329,179 $2,490 2.96%
    41% 67 $24,895,000 $371,567 $3,273 3.13%
    37% 62 $21,580,000 $348,065 $2,652 3.03%
    36% 58 $21,470,000 $370,172 $2,606 2.96%
    44% 52 $16,590,000 $319,038 $2,585 3.13%
    42% 50 $16,150,000 $323,000 $2,687 3.00%
    38% 45 $17,275,000 $383,889 $3,336 3.01%
    45% 38 $13,090,000 $344,474 $2,917 2.98%
    49% 30 $10,760,000 $358,667 $2,543 3.01%
    47% 28 $8,960,000 $320,000 $3,025 2.86%
    46% 25 $8,315,000 $332,600 $2,748 2.95%
    48% 19 $5,885,000 $309,737 $2,819 2.97%
    50-60% 1 $495,000 $495,000 $2,450 3.13%
    >60% 1 $445,000 $445,000 $2,751 2.38%

    Bridgewater Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 520 originations. The next most common DTI ratio? 30-36%, with 309 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,409 $496,175,000 $352,147 $2,641 2.97%
    Not provided 226 $80,650,000 $356,858 $2,595 2.98%
    Black 36 $10,780,000 $299,444 $3,597 3.04%
    Asian 21 $9,335,000 $444,524 $3,192 2.74%
    Not applicable 12 $7,520,000 $626,667 $0 4.29%
    Asian Indian 8 $2,750,000 $343,750 $2,309 2.81%
    American Indian 6 $1,780,000 $296,667 $3,081 2.60%

    Approval Rates

    Total approvals of all applications
    93.59%

    Bridgewater Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.48%

    Bridgewater Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    300.0 14 $1,750,000 $125,000
    313.5 1 $145,000 $145,000
    375.0 14 $1,700,000 $121,429
    NA 1,689 $605,395,000 $358,434

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,485,000 $828,333
    Single Family (1-4 Units):Manufactured 29 $3,595,000 $123,966
    Single Family (1-4 Units):Site-Built 1,686 $602,910,000 $357,598

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 140 $32,010,000 $228,643 $2,309 2.83%
    40-60% 423 $134,075,000 $316,962 $2,382 2.92%
    60-80% 787 $310,885,000 $395,025 $2,590 3.03%
    80-100% 336 $127,100,000 $378,274 $3,389 3.00%
    Over 100% 3 $1,045,000 $348,333 $7,047 3.17%
    Under 20% 29 $3,875,000 $133,621 $936 2.96%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bridgewater Savings Bank 120 West Center Street West Bridgewater, MA 2379 Full Service B&M $77,527
    Bridgewater Savings Bank 14 Main Street Bridgewater, MA 2324 Full Service B&M $147,104
    Bridgewater Savings Bank 2109 Bay Street, Northwoods Crossing Taunton, MA 2780 Full Service B&M $33,150
    Bridgewater Savings Bank 27 Mattakeesett Street Pembroke, MA 2359 Full Service B&M $61,888
    Bridgewater Savings Bank 29 Bedford Street East Bridgewater, MA 2333 Full Service B&M $74,215
    Bridgewater Savings Bank 5 Scotland Boulevard Bridgewater, MA 2324 Full Service B&M $34,580
    Bridgewater Savings Bank 6 Main Street Lakeville, MA 2346 Full Service B&M $99,893
    Bridgewater Savings Bank 756 Orchard Street Raynham, MA 2767 Full Service B&M $90,526

    For 2020, Bridgewater Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,451
    Net interest income $22,543
    Total noninterest income $14,308
    Gross Fiduciary activities income $764
    Service charges on deposit accounts $529
    Trading account gains and fees $0
    Additional Noninterest Income $13,015
    Pre-tax net operating income $9,613
    Securities gains (or losses, -) $173
    Income before extraordinary items $8,341
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,341
    Minority interest net income $0
    Net income $8,341
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,193

    Bridgewater Savings Bank's gross interest income from loans was $26,451,000.
    Bridgewater Savings Bank's net interest income from loans was $22,543,000.
    Bridgewater Savings Bank's fee based income from loans was $529,000.
    Bridgewater Savings Bank's net income from loans was $8,341,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,908
    Provision for credit losses $850
    Total noninterest expense $26,388
    Salaries and employee benefits $15,297
    Premises and equipment expense $2,837
    Additional noninterest expense $8,254
    Applicable income taxes $1,445
    Net charge-offs $0
    Cash dividends $0

    Bridgewater Savings Bank's interest expense for loans was $3,908,000.
    Bridgewater Savings Bank's payroll and benefits expense were $15,297,000.
    Bridgewater Savings Bank's property, plant and equipment expenses $2,837,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,127,510
    Deposits held in domestic offices $1,127,510
    Deposits by Individuals, partnerships, and corporations $974,773
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $147,071
    Deposits by Commercial banks and other depository institutions in U.S. $5,666
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $307,744
    Demand deposits $163,753
    Nontransaction accounts $819,766
    Money market deposit accounts (MMDAs) $333,645
    Other savings deposits (excluding MMDAs) $244,882
    Total time deposits $241,238
    Total time and savings deposits $963,757
    Noninterest-bearing deposits $163,753
    Interest-bearing deposits $963,757
    Retail deposits $1,057,937
    IRAs and Keogh plan accounts $39,918
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,263,319
    Cash & Balances due from depository institutions $123,839
    Interest-bearing balances $119,724
    Total securities $195,909
    Federal funds sold & reverse repurchase $0
    Net loans and leases $900,173
    Loan and leases loss allowance $5,049
    Trading account assets $0
    Bank premises and fixed assets $16,464
    Other real estate owned $0
    Goodwill and other intangibles $1,726
    All other assets $25,208

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,263,318
    Total Liabilities $1,136,082
    Total deposits $1,127,510
    Interest-bearing deposits $963,757
    Deposits held in domestic offices $1,127,510
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $907
    Subordinated debt $0
    All other liabilities $7,665

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $900,173
    Loan and leases loss allowance $5,049
    Total loans and leases (domestic) $905,222
    All real estate loans $808,296
    Real estate loans in domestic offices $808,296
    Construction and development loans $61,424
    Residential 1-4 family construction $15,977
    Other construction, all land development and other land $45,447
    Loans secured by nonfarm nonresidential properties $304,269
    Nonfarm nonresidential secured by owner-occupied properties $45,720
    Commercial real estate & other non-farm, non-residential $258,549
    Multifamily residential real estate $19,456
    1-4 family residential loans $423,147
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $76,895
    To non-U.S. addressees $0
    Loans to individuals $20,031
    Credit card loans $0
    Related Plans $87
    Consumer Auto Loans $0
    Other loans to individuals $19,944
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Bridgewater Savings Bank had $900,173,000 of loans outstanding in 2020. $808,296,000 of loans were in real estate loans. $61,424,000 of loans were in development loans. $19,456,000 of loans were in multifamily mortgage loans. $423,147,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 201 $69,152 $344,040
    Nonfarm, nonresidential loans - <$100k 9 $404 $44,889
    Nonfarm, nonresidential loans - $100-250k 46 $6,904 $150,087
    Nonfarm, nonresidential loans - $250k-1MM 146 $61,844 $423,589
    Commercial & Industrial, US addressed loans - <$1MM 235 $31,053 $132,140
    Commercial & Industrial, US addressed loans - <$100k 133 $3,938 $29,609
    Commercial & Industrial, US addressed loans - $100-250k 43 $5,889 $136,953
    Commercial & Industrial, US addressed loans - $250k-1MM 59 $21,226 $359,763