Hometown Bank Mortgage Rates, Fees & Info

Oxford, MA

LEI: 549300HLPEQ31HY26E57

Tax ID: 04-1953445

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Hometown Bank is a smaller bank specializing in Home Purchase loans. Hometown Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Springfield, Providence, Barnstable Town, and Norwich among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Hometown Bank 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.

    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.

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    Originations

    193

    Origination Dollar Volume (All Markets)

    $35,525,000

    Employee count

    119

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 176 $33,010,000 $187,557 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 10 $1,120,000 $112,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $735,000 $245,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Hometown Bank's top markets include Worcester, Springfield, Providence, Barnstable Town, and Norwich among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 193 $35,525,000 $184,067 $0 0.00%

    For 2018, Hometown Bank's most frequently originated type of loan was Conventional, with 193 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 61 $19,415,000 $318,279 $0 0.00%
    Cash Out Refi 45 $7,005,000 $155,667 $0 0.00%
    Other 31 $2,225,000 $71,774 $0 0.00%
    Home Improvement 30 $2,600,000 $86,667 $0 0.00%
    Refi 26 $4,280,000 $164,615 $0 0.00%

    For 2018, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 193 $35,525,000 $184,067 $0 0.00%

    For 2018, Hometown Bank's most frequently cited loan duration was Other, with 193 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 72 $3,490,000 $48,472 $0 0.00%
    $100k-200k 69 $10,185,000 $147,609 $0 0.00%
    $200k-400k 45 $11,915,000 $264,778 $0 0.00%
    $400k-600k 6 $2,730,000 $455,000 $0 0.00%
    $1MM+ 1 $7,205,000 $7,205,000 $0 0.00%

    2018 saw Hometown Bank place emphasis on $100,000 or less loans with 72 originations, totaling $3,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 43 $7,255,000 $168,721 $0 0.00%
    $50k-75k 35 $4,115,000 $117,571 $0 0.00%
    $50k or less 33 $2,355,000 $71,364 $0 0.00%
    $75k-100k 31 $5,075,000 $163,710 $0 0.00%
    $150k-250k 17 $3,025,000 $177,941 $0 0.00%
    $250k+ 11 $2,965,000 $269,545 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $50k-75k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 193 $35,525,000 $184,067 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 193 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 157 $22,795,000 $145,191 $0 0.00%
    Not applicable 14 $9,440,000 $674,286 $0 0.00%
    Not provided 16 $2,040,000 $127,500 $0 0.00%
    Asian 4 $1,180,000 $295,000 $0 0.00%
    Japanese 1 $45,000 $45,000 $0 0.00%
    Black 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.88%

    Hometown Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.54%

    Hometown Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 193 $35,525,000 $184,067

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $7,820,000 $1,955,000
    Single Family (1-4 Units):Site-Built 189 $27,705,000 $146,587

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Closing on a mortgage 2 4.9%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Struggling to pay mortgage 4 9.8%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Trouble during payment process 13 31.7%
    HUNTINGTON NATIONAL BANK, THE FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE FHA mortgage Trouble during payment process 3 7.3%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 4.9%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Trouble during payment process 5 12.2%
    HUNTINGTON NATIONAL BANK, THE Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Other type of mortgage Trouble during payment process 7 17.1%
    HUNTINGTON NATIONAL BANK, THE VA mortgage Closing on a mortgage 1 2.4%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Hometown Bank 13 Canterbury Road Brooklyn, CT 6234 Full Service B&M $19,885
    Hometown Bank 131 Main Street South Lancaster, MA 1561 Full Service B&M $28,900
    Hometown Bank 148 Route 171 Woodstock, CT 6281 Full Service B&M $55,919
    Hometown Bank 182 Main Street Putnam, CT 6260 Full Service B&M $87,554
    Hometown Bank 218r Main Street Webster, MA 1570 Full Service B&M $45,467
    Hometown Bank 3 Central Street Danielson, CT 6239 Full Service B&M $22,198
    Hometown Bank 31 Sutton Avenue Oxford, MA 1540 Full Service B&M $197,104
    Hometown Bank 331 Main Stret Sturbridge, MA 1566 Full Service B&M $53,221
    Hometown Bank 4 Gore Road Webster, MA 1570 Full Service B&M $48,625
    Hometown Bank 569 Southbridge Street Auburn, MA 1501 Full Service B&M $13,459
    Hometown Bank 865 Riverside Drive Grosvenordale, CT 6255 Full Service B&M $34,092
    Hometown Bank 9 Sack Blvd Leominster, MA 1453 Full Service B&M $21,322
    Hometown Bank 90 Exchange St Athol, MA 1331 Full Service B&M $31,714

    For 2018, Hometown Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,591
    Net interest income $24,874
    Total noninterest income $5,591
    Gross Fiduciary activities income $2
    Service charges on deposit accounts $2,532
    Trading account gains and fees $0
    Additional Noninterest Income $3,057
    Pre-tax net operating income $8,340
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,393
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,393
    Minority interest net income $0
    Net income $6,393
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,393

    Hometown Bank's gross interest income from loans was $28,591,000.
    Hometown Bank's net interest income from loans was $24,874,000.
    Hometown Bank's fee based income from loans was $2,532,000.
    Hometown Bank's net income from loans was $6,393,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,717
    Provision for credit losses $2,885
    Total noninterest expense $19,240
    Salaries and employee benefits $10,227
    Premises and equipment expense $1,941
    Additional noninterest expense $7,072
    Applicable income taxes $1,947
    Net charge-offs $7
    Cash dividends $0

    Hometown Bank's interest expense for loans was $3,717,000.
    Hometown Bank's payroll and benefits expense were $10,227,000.
    Hometown Bank's property, plant and equipment expenses $1,941,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 3.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $647,690
    Deposits held in domestic offices $647,690
    Deposits by Individuals, partnerships, and corporations $551,244
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $79,694
    Deposits by Commercial banks and other depository institutions in U.S. $16,752
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $95,720
    Demand deposits $42,423
    Nontransaction accounts $551,970
    Money market deposit accounts (MMDAs) $87,015
    Other savings deposits (excluding MMDAs) $287,940
    Total time deposits $177,015
    Total time and savings deposits $605,267
    Noninterest-bearing deposits $106,477
    Interest-bearing deposits $541,213
    Retail deposits $587,675
    IRAs and Keogh plan accounts $30,618
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $788,878
    Cash & Balances due from depository institutions $37,826
    Interest-bearing balances $27,582
    Total securities $155,817
    Federal funds sold & reverse repurchase $0
    Net loans and leases $548,706
    Loan and leases loss allowance $5,597
    Trading account assets $0
    Bank premises and fixed assets $8,428
    Other real estate owned $0
    Goodwill and other intangibles $13,117
    All other assets $24,984

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $788,878
    Total Liabilities $692,350
    Total deposits $647,690
    Interest-bearing deposits $541,213
    Deposits held in domestic offices $647,690
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $36,500
    Subordinated debt $0
    All other liabilities $8,160

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $548,706
    Loan and leases loss allowance $5,597
    Total loans and leases (domestic) $554,303
    All real estate loans $511,327
    Real estate loans in domestic offices $511,327
    Construction and development loans $38,927
    Residential 1-4 family construction $19,044
    Other construction, all land development and other land $19,883
    Loans secured by nonfarm nonresidential properties $180,363
    Nonfarm nonresidential secured by owner-occupied properties $94,322
    Commercial real estate & other non-farm, non-residential $86,041
    Multifamily residential real estate $50,614
    1-4 family residential loans $240,256
    Farmland loans $1,167
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $41,202
    To non-U.S. addressees $0
    Loans to individuals $1,774
    Credit card loans $0
    Related Plans $90
    Consumer Auto Loans $370
    Other loans to individuals $1,314
    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 $945
    Non 1-4 family restructured loans & leases $237
    Total loans and leases (foreign) $0

    Hometown Bank had $548,706,000 of loans outstanding in 2018. $511,327,000 of loans were in real estate loans. $38,927,000 of loans were in development loans. $50,614,000 of loans were in multifamily mortgage loans. $240,256,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $370,000 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 343 $72,827 $212,324
    Nonfarm, nonresidential loans - <$100k 129 $5,599 $43,403
    Nonfarm, nonresidential loans - $100-250k 109 $17,988 $165,028
    Nonfarm, nonresidential loans - $250k-1MM 105 $49,240 $468,952
    Commercial & Industrial, US addressed loans - <$1MM 357 $26,555 $74,384
    Commercial & Industrial, US addressed loans - <$100k 290 $7,174 $24,738
    Commercial & Industrial, US addressed loans - $100-250k 39 $5,923 $151,872
    Commercial & Industrial, US addressed loans - $250k-1MM 28 $13,458 $480,643
    Farmland loans - <$1MM 1 $19 $19,000
    Farmland loans - <$100k 1 $19 $19,000