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 and Refi loans. Hometown Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, New Haven, Springfield, and Barnstable Town among others. We have data for 9 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

    241

    Origination Dollar Volume (All Markets)

    $61,235,000

    Employee count

    153

    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) 214 $53,410,000 $249,579 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 6 $1,860,000 $310,000 $0 0.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $1,620,000 $810,000 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 8 $1,280,000 $160,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $1,040,000 $520,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $940,000 $235,000 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $510,000 $255,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $500,000 $250,000 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Hometown Bank's top markets include Worcester, Boston, New Haven, Springfield, and Barnstable Town among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 241 $61,235,000 $254,087 $0 0.00%

    For 2019, Hometown Bank's most frequently originated type of loan was Conventional, with 241 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $37,065,000 $374,394 $0 0.00%
    Refi 59 $12,325,000 $208,898 $0 0.00%
    Cash Out Refi 35 $8,535,000 $243,857 $0 0.00%
    Home Improvement 31 $1,785,000 $57,581 $0 0.00%
    Other 17 $1,525,000 $89,706 $0 0.00%

    For 2019, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Refi, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 241 $61,235,000 $254,087 $0 0.00%

    For 2019, Hometown Bank's most frequently cited loan duration was Other, with 241 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 77 $21,095,000 $273,961 $0 0.00%
    $100k-200k 71 $10,705,000 $150,775 $0 0.00%
    $100,000 or less 67 $3,515,000 $52,463 $0 0.00%
    $400k-600k 17 $8,285,000 $487,353 $0 0.00%
    $600k-1MM 5 $3,795,000 $759,000 $0 0.00%
    $1MM+ 4 $13,840,000 $3,460,000 $0 0.00%

    2019 saw Hometown Bank place emphasis on $200k-400k loans with 77 originations, totaling $21,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 46 $5,860,000 $127,391 $0 0.00%
    $75k-100k 46 $7,300,000 $158,696 $0 0.00%
    $150k-250k 42 $12,770,000 $304,048 $0 0.00%
    $100k-150k 38 $6,800,000 $178,947 $0 0.00%
    $50k or less 31 $3,585,000 $115,645 $0 0.00%
    $250k+ 13 $5,725,000 $440,385 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $50k-75k range, with 46 originations. The second most popular income band? $75k-100k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 241 $61,235,000 $254,087 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 241 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 201 $39,175,000 $194,900 $0 0.00%
    Not applicable 20 $17,690,000 $884,500 $0 0.00%
    Not provided 12 $2,770,000 $230,833 $0 0.00%
    Asian 6 $1,410,000 $235,000 $0 0.00%
    Black 1 $125,000 $125,000 $0 0.00%
    Native Hawaiian or Islander 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.90%

    Hometown Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.76%

    Hometown Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 241 $61,235,000 $254,087

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $16,750,000 $1,395,833
    Single Family (1-4 Units):Site-Built 229 $44,485,000 $194,258

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    HomeTown Lenders, LLC VA mortgage Closing on a mortgage 1 50.0%
    HomeTown Lenders, LLC FHA mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Hometown Bank 13 Canterbury Road Brooklyn, CT 6234 Full Service B&M $20,300
    Hometown Bank 131 Main Street South Lancaster, MA 1561 Full Service B&M $27,920
    Hometown Bank 148 Route 171 Woodstock, CT 6281 Full Service B&M $59,847
    Hometown Bank 182 Main Street Putnam, CT 6260 Full Service B&M $88,710
    Hometown Bank 218r Main Street Webster, MA 1570 Full Service B&M $41,255
    Hometown Bank 3 Central Street Danielson, CT 6239 Full Service B&M $21,789
    Hometown Bank 31 Sutton Avenue Oxford, MA 1540 Full Service B&M $193,830
    Hometown Bank 331 Main Stret Sturbridge, MA 1566 Full Service B&M $51,222
    Hometown Bank 4 Gore Road Webster, MA 1570 Full Service B&M $57,067
    Hometown Bank 569 Southbridge Street Auburn, MA 1501 Full Service B&M $21,125
    Hometown Bank 865 Riverside Drive Grosvenordale, CT 6255 Full Service B&M $35,220
    Hometown Bank 9 Sack Blvd Leominster, MA 1453 Full Service B&M $26,122
    Hometown Bank 90 Exchange St Athol, MA 1331 Full Service B&M $30,622

    For 2019, Hometown Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,620
    Net interest income $26,410
    Total noninterest income $6,339
    Gross Fiduciary activities income $2
    Service charges on deposit accounts $2,802
    Trading account gains and fees $0
    Additional Noninterest Income $3,535
    Pre-tax net operating income $9,064
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,933
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,933
    Minority interest net income $0
    Net income $6,933
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,933

    Hometown Bank's gross interest income from loans was $32,620,000.
    Hometown Bank's net interest income from loans was $26,410,000.
    Hometown Bank's fee based income from loans was $2,802,000.
    Hometown Bank's net income from loans was $6,933,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,210
    Provision for credit losses $760
    Total noninterest expense $22,925
    Salaries and employee benefits $11,939
    Premises and equipment expense $2,227
    Additional noninterest expense $8,759
    Applicable income taxes $2,131
    Net charge-offs $120
    Cash dividends $21,700

    Hometown Bank's interest expense for loans was $6,210,000.
    Hometown Bank's payroll and benefits expense were $11,939,000.
    Hometown Bank's property, plant and equipment expenses $2,227,000.

    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 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 $869,275
    Deposits held in domestic offices $869,275
    Deposits by Individuals, partnerships, and corporations $765,977
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $90,674
    Deposits by Commercial banks and other depository institutions in U.S. $12,624
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $124,232
    Demand deposits $44,200
    Nontransaction accounts $745,043
    Money market deposit accounts (MMDAs) $108,504
    Other savings deposits (excluding MMDAs) $386,143
    Total time deposits $250,396
    Total time and savings deposits $825,075
    Noninterest-bearing deposits $124,963
    Interest-bearing deposits $744,312
    Retail deposits $781,776
    IRAs and Keogh plan accounts $47,622
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,018,606
    Cash & Balances due from depository institutions $63,477
    Interest-bearing balances $44,097
    Total securities $176,163
    Federal funds sold & reverse repurchase $0
    Net loans and leases $724,577
    Loan and leases loss allowance $6,238
    Trading account assets $0
    Bank premises and fixed assets $13,866
    Other real estate owned $363
    Goodwill and other intangibles $13,955
    All other assets $26,205

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,018,606
    Total Liabilities $902,203
    Total deposits $869,275
    Interest-bearing deposits $744,312
    Deposits held in domestic offices $869,275
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $23,000
    Subordinated debt $0
    All other liabilities $9,928

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $724,577
    Loan and leases loss allowance $6,238
    Total loans and leases (domestic) $730,815
    All real estate loans $652,041
    Real estate loans in domestic offices $652,041
    Construction and development loans $45,495
    Residential 1-4 family construction $29,241
    Other construction, all land development and other land $16,254
    Loans secured by nonfarm nonresidential properties $242,905
    Nonfarm nonresidential secured by owner-occupied properties $106,523
    Commercial real estate & other non-farm, non-residential $136,382
    Multifamily residential real estate $62,281
    1-4 family residential loans $300,251
    Farmland loans $1,109
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $69,426
    To non-U.S. addressees $0
    Loans to individuals $4,119
    Credit card loans $0
    Related Plans $130
    Consumer Auto Loans $1,497
    Other loans to individuals $2,492
    All other loans & leases $5,229
    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 $1,755
    Non 1-4 family restructured loans & leases $802
    Total loans and leases (foreign) $0

    Hometown Bank had $724,577,000 of loans outstanding in 2019. $652,041,000 of loans were in real estate loans. $45,495,000 of loans were in development loans. $62,281,000 of loans were in multifamily mortgage loans. $300,251,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,497,000 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 443 $100,413 $226,666
    Nonfarm, nonresidential loans - <$100k 159 $6,276 $39,472
    Nonfarm, nonresidential loans - $100-250k 144 $24,489 $170,063
    Nonfarm, nonresidential loans - $250k-1MM 140 $69,648 $497,486
    Commercial & Industrial, US addressed loans - <$1MM 396 $33,995 $85,846
    Commercial & Industrial, US addressed loans - <$100k 314 $8,993 $28,640
    Commercial & Industrial, US addressed loans - $100-250k 50 $8,187 $163,740
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $16,815 $525,469
    Farmland loans - <$1MM 2 $13 $6,500
    Farmland loans - <$100k 2 $13 $6,500