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, Cash Out Refi, and Home Purchase 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, Barnstable Town, Worcester, and Vineyard Haven among others. We have data for 7 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% 12/16/24
    30 Year Conventional Refi 6.04% 12/16/24
    30 Year Cash-out Refi 5.98% 12/16/24
    30 Year FHA Purchase 6.76% 12/16/24
    30 Year VA Purchase 6.46% 12/16/24
    15 Year Conventional Purchase 4.54% 12/16/24
    15 Year Conventional Refi 5.48% 12/16/24
    15 Year Cash-out Refi 5.48% 12/16/24
    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

    1,489

    Origination Dollar Volume (All Markets)

    $606,995,000

    Employee count

    182 Show all (11) 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) 1,063 $454,615,000 $427,672 $2,863 2.86%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 318 $104,130,000 $327,453 $2,610 2.74%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 62 $30,670,000 $494,677 $2,734 2.78%
    WORCESTER, MA-CT (FHA|USDA|VA) 39 $13,475,000 $345,513 $3,131 2.82%
    Vineyard Haven, MA (FHA|USDA|VA) 4 $2,680,000 $670,000 $3,876 2.81%
    Outside of Metro Areas 1 $965,000 $965,000 $4,230 2.88%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $460,000 $230,000 $2,029 3.00%
    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.

    SOMERSET
    Similarity Rank: 87
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396
    OCEAN STATE CREDIT UNION
    Similarity Rank: 405
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Rhode Island Credit Union
    Similarity Rank: 524
    Sharon & Crescent United Credit Union
    Similarity Rank: 540
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 596
    WESTERLY COMMUNITY
    Similarity Rank: 618
    East Boston Savings Bank
    Similarity Rank: 755

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,462 $596,300,000 $407,866 $2,765 2.84%
    VA 19 $7,435,000 $391,316 $3,002 2.39%
    FHA 8 $3,260,000 $407,500 $10,396 2.55%

    For 2021, Bridgewater Savings Bank's most frequently originated type of loan was Conventional, with 1,462 originations. Their 2nd most popular type was VA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 703 $273,635,000 $389,239 $2,493 2.77%
    Cash Out Refi 441 $163,525,000 $370,805 $2,593 2.81%
    Home Purchase 324 $161,270,000 $497,747 $3,868 2.96%
    Other 15 $6,285,000 $419,000 $2,742 2.93%
    Home Improvement 6 $2,280,000 $380,000 $3,068 2.73%

    For 2021, Bridgewater Savings Bank's most frequently cited loan purpose was Refi, with 703 originations. The 2nd most popular reason was Cash Out Refi, with 441 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,036 $445,720,000 $430,232 $2,989 2.87%
    15 Year 219 $65,105,000 $297,283 $2,363 2.32%
    20 Year 117 $32,695,000 $279,444 $2,304 2.63%
    10 Year 55 $35,505,000 $645,545 $2,195 2.87%
    Other 53 $18,175,000 $342,925 $2,374 4.20%
    1 Year 6 $3,600,000 $600,000 $0 4.46%
    30+ year 1 $445,000 $445,000 $3,996 3.25%
    3 Year 1 $5,725,000 $5,725,000 $0 4.00%
    5 Year 1 $25,000 $25,000 $0 4.38%

    For 2021, Bridgewater Savings Bank's most frequently cited loan duration was 30 Year, with 1,036 originations. The 2nd most popular length was 15 Year, with 219 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,239 $481,455,000 $388,584
    $1k-2k 97 $45,965,000 $473,866
    $2k-3k 10 $5,060,000 $506,000
    $3k-4k 3 $1,145,000 $381,667
    $4k-5k 2 $420,000 $210,000
    $5k+ 2 $1,690,000 $845,000

    Bridgewater Savings Bank's average total fees were $2,989, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,239 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 837 $347,425,000 $415,084
    <2.5% 371 $109,255,000 $294,488
    3-4% 226 $137,630,000 $608,982
    4-5% 50 $12,020,000 $240,400
    5-6% 5 $665,000 $133,000

    During 2021, Bridgewater Savings Bank's average interest rate for loans was 2.87%, while their most frequently originated rate bucket for loans was 2.5-3%, with 837 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 692 $206,680,000 $298,671 $2,496 2.74%
    $400k-600k 361 $173,795,000 $481,427 $3,121 2.81%
    $100k-200k 200 $31,480,000 $157,400 $2,179 2.79%
    $600k-1MM 156 $118,480,000 $759,487 $3,899 3.00%
    $1MM+ 46 $74,160,000 $1,612,174 $4,814 3.25%
    $100,000 or less 34 $2,400,000 $70,588 $1,786 3.62%

    2021 saw Bridgewater Savings Bank place emphasis on $200k-400k loans with 692 originations, totaling $206,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 394 $183,270,000 $465,152 $2,967 2.79%
    $100k-150k 365 $130,515,000 $357,575 $2,763 2.78%
    $75k-100k 242 $66,510,000 $274,835 $2,555 2.76%
    $50k-75k 194 $44,920,000 $231,546 $2,536 2.88%
    $250k+ 177 $115,625,000 $653,249 $3,459 2.78%
    $50k or less 50 $8,090,000 $161,800 $2,342 3.02%

    Bridgewater Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 394 originations. The second most popular income band? $100k-150k, with 365 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 420 $164,380,000 $391,381 $2,761 2.75%
    30-36% 312 $119,080,000 $381,667 $2,803 2.81%
    <20% 130 $48,380,000 $372,154 $2,566 2.62%
    43% 64 $25,200,000 $393,750 $2,817 2.84%
    44% 60 $23,020,000 $383,667 $2,971 3.07%
    42% 59 $25,715,000 $435,847 $2,951 2.95%
    41% 53 $20,555,000 $387,830 $3,035 2.86%
    36% 51 $18,775,000 $368,137 $2,897 2.80%
    38% 49 $18,915,000 $386,020 $3,202 2.77%
    39% 48 $17,290,000 $360,208 $2,786 2.93%
    40% 42 $17,770,000 $423,095 $2,903 2.84%
    37% 42 $16,020,000 $381,429 $2,724 2.82%
    45% 26 $10,420,000 $400,769 $3,159 2.78%
    48% 21 $7,075,000 $336,905 $2,471 2.85%
    49% 20 $6,740,000 $337,000 $3,083 2.78%
    46% 19 $7,575,000 $398,684 $3,248 2.78%
    47% 19 $6,075,000 $319,737 $2,962 2.86%
    50-60% 3 $325,000 $108,333 $1,955 3.08%

    Bridgewater Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 420 originations. The next most common DTI ratio? 30-36%, with 312 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,165 $453,655,000 $389,403 $2,809 2.80%
    Not provided 219 $81,445,000 $371,895 $2,719 2.82%
    Not applicable 38 $46,010,000 $1,210,789 $0 3.93%
    Black 33 $11,385,000 $345,000 $3,419 2.89%
    Asian 20 $8,440,000 $422,000 $3,035 2.49%
    Asian Indian 5 $3,465,000 $693,000 $3,517 2.43%
    Other Asian 5 $1,235,000 $247,000 $2,415 3.22%
    American Indian 3 $895,000 $298,333 $2,516 3.37%
    Korean 1 $465,000 $465,000 $2,449 2.13%

    Approval Rates

    Total approvals of all applications
    93.40%

    Bridgewater Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.29%

    Bridgewater Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    375.0 38 $4,450,000 $117,105
    NA 1,451 $602,545,000 $415,262

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,489 $606,995,000 $407,653

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 174 $40,830,000 $234,655 $2,431 2.76%
    40-60% 446 $158,590,000 $355,583 $2,512 2.73%
    60-80% 652 $313,950,000 $481,518 $2,803 2.90%
    80-100% 192 $89,660,000 $466,979 $3,847 2.84%
    Under 20% 21 $2,455,000 $116,905 $2,123 3.22%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bluestone Bank 120 West Center Street West Bridgewater, MA 2379 Full Service B&M $85,349
    Bluestone Bank 14 Main Street Bridgewater, MA 2324 Full Service B&M $157,710
    Bluestone Bank 2109 Bay Street, Northwoods Crossing Taunton, MA 2780 Full Service B&M $34,345
    Bluestone Bank 225 West Main Street Norton, MA 2766 Full Service B&M $92,465
    Bluestone Bank 27 Mattakeesett Street Pembroke, MA 2359 Full Service B&M $66,010
    Bluestone Bank 29 Bedford Street East Bridgewater, MA 2333 Full Service B&M $82,527
    Bluestone Bank 3 Taunton Street Plainville, MA 2762 Full Service B&M $89,217
    Bluestone Bank 5 Scotland Boulevard Bridgewater, MA 2324 Full Service B&M $39,776
    Bluestone Bank 6 Main Street Lakeville, MA 2346 Full Service B&M $104,380
    Bluestone Bank 728 West Center Street West Bridgewater, MA 2379 Full Service B&M $67,142
    Bluestone Bank 756 Orchard St Raynham, MA 2767 Full Service B&M $97,469
    Bluestone Bank 80 North Main Street Mansfield, MA 2048 Full Service B&M $242,045

    For 2021, Bridgewater Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $37,987
    Net interest income $35,562
    Total noninterest income $13,199
    Gross Fiduciary activities income $806
    Service charges on deposit accounts $634
    Trading account gains and fees $0
    Additional Noninterest Income $11,759
    Pre-tax net operating income $12,422
    Securities gains (or losses, -) $86
    Income before extraordinary items $9,370
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,370
    Minority interest net income $0
    Net income $9,370
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,302

    Bridgewater Savings Bank's gross interest income from loans was $37,987,000.
    Bridgewater Savings Bank's net interest income from loans was $35,562,000.
    Bridgewater Savings Bank's fee based income from loans was $634,000.
    Bridgewater Savings Bank's net income from loans was $9,370,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,425
    Provision for credit losses $545
    Total noninterest expense $35,794
    Salaries and employee benefits $22,175
    Premises and equipment expense $4,057
    Additional noninterest expense $9,562
    Applicable income taxes $3,138
    Net charge-offs $26
    Cash dividends $0

    Bridgewater Savings Bank's interest expense for loans was $2,425,000.
    Bridgewater Savings Bank's payroll and benefits expense were $22,175,000.
    Bridgewater Savings Bank's property, plant and equipment expenses $4,057,000.

    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 $1,183,083
    Deposits held in domestic offices $1,183,083
    Deposits by Individuals, partnerships, and corporations $1,016,299
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $163,807
    Deposits by Commercial banks and other depository institutions in U.S. $2,977
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $365,540
    Demand deposits $214,005
    Nontransaction accounts $817,543
    Money market deposit accounts (MMDAs) $420,382
    Other savings deposits (excluding MMDAs) $215,689
    Total time deposits $181,472
    Total time and savings deposits $969,078
    Noninterest-bearing deposits $214,005
    Interest-bearing deposits $969,078
    Retail deposits $1,136,773
    IRAs and Keogh plan accounts $35,869
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,326,102
    Cash & Balances due from depository institutions $113,525
    Interest-bearing balances $108,027
    Total securities $332,122
    Federal funds sold & reverse repurchase $0
    Net loans and leases $837,539
    Loan and leases loss allowance $5,568
    Trading account assets $0
    Bank premises and fixed assets $16,394
    Other real estate owned $0
    Goodwill and other intangibles $1,450
    All other assets $25,072

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,326,102
    Total Liabilities $1,192,602
    Total deposits $1,183,083
    Interest-bearing deposits $969,078
    Deposits held in domestic offices $1,183,083
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $567
    Subordinated debt $0
    All other liabilities $8,952

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $837,539
    Loan and leases loss allowance $5,568
    Total loans and leases (domestic) $843,107
    All real estate loans $773,136
    Real estate loans in domestic offices $773,136
    Construction and development loans $59,761
    Residential 1-4 family construction $41,957
    Other construction, all land development and other land $17,804
    Loans secured by nonfarm nonresidential properties $227,916
    Nonfarm nonresidential secured by owner-occupied properties $94,007
    Commercial real estate & other non-farm, non-residential $133,909
    Multifamily residential real estate $58,843
    1-4 family residential loans $426,616
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $52,255
    To non-U.S. addressees $0
    Loans to individuals $17,716
    Credit card loans $0
    Related Plans $79
    Consumer Auto Loans $0
    Other loans to individuals $17,637
    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 $837,539,000 of loans outstanding in 2021. $773,136,000 of loans were in real estate loans. $59,761,000 of loans were in development loans. $58,843,000 of loans were in multifamily mortgage loans. $426,616,000 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 355 $123,892 $348,992
    Nonfarm, nonresidential loans - <$100k 10 $435 $43,500
    Nonfarm, nonresidential loans - $100-250k 85 $12,161 $143,071
    Nonfarm, nonresidential loans - $250k-1MM 260 $111,296 $428,062
    Commercial & Industrial, US addressed loans - <$1MM 236 $37,723 $159,843
    Commercial & Industrial, US addressed loans - <$100k 78 $2,581 $33,090
    Commercial & Industrial, US addressed loans - $100-250k 90 $11,150 $123,889
    Commercial & Industrial, US addressed loans - $250k-1MM 68 $23,992 $352,824