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 Refi, Cash Out Refi, and Home Purchase loans. Hometown Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Bridgeport, Springfield, and Providence among others. We have data for 10 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

    384

    Origination Dollar Volume (All Markets)

    $127,790,000

    Employee count

    158

    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) 332 $83,220,000 $250,663 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 17 $31,995,000 $1,882,059 $0 0.00%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $4,385,000 $4,385,000 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 17 $2,815,000 $165,588 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 8 $2,190,000 $273,750 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $1,115,000 $371,667 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $945,000 $315,000 $0 0.00%
    Rutland, VT (FHA|USDA|VA) 1 $515,000 $515,000 $0 0.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    Hometown Bank's top markets include Worcester, Boston, Bridgeport, Springfield, and Providence among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 384 $127,790,000 $332,786 $0 0.00%

    For 2020, Hometown Bank's most frequently originated type of loan was Conventional, with 384 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 130 $28,950,000 $222,692 $0 0.00%
    Cash Out Refi 121 $30,055,000 $248,388 $0 0.00%
    Home Purchase 77 $64,755,000 $840,974 $0 0.00%
    Home Improvement 31 $1,945,000 $62,742 $0 0.00%
    Other 25 $2,085,000 $83,400 $0 0.00%

    For 2020, Hometown Bank's most frequently cited loan purpose was Refi, with 130 originations. The 2nd most popular reason was Cash Out Refi, with 121 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 384 $127,790,000 $332,786 $0 0.00%

    For 2020, Hometown Bank's most frequently cited loan duration was Other, with 384 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 142 $39,470,000 $277,958 $0 0.00%
    $100k-200k 125 $19,025,000 $152,200 $0 0.00%
    $100,000 or less 75 $4,075,000 $54,333 $0 0.00%
    $400k-600k 33 $15,655,000 $474,394 $0 0.00%
    $1MM+ 8 $48,910,000 $6,113,750 $0 0.00%
    $600k-1MM 1 $655,000 $655,000 $0 0.00%

    2020 saw Hometown Bank place emphasis on $200k-400k loans with 142 originations, totaling $39,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 81 $18,595,000 $229,568 $0 0.00%
    $75k-100k 75 $13,515,000 $180,200 $0 0.00%
    $50k-75k 66 $11,900,000 $180,303 $0 0.00%
    $150k-250k 59 $16,115,000 $273,136 $0 0.00%
    $50k or less 49 $4,875,000 $99,490 $0 0.00%
    $250k+ 26 $10,950,000 $421,154 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $100k-150k range, with 81 originations. The second most popular income band? $75k-100k, with 75 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 384 $127,790,000 $332,786 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 384 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 312 $66,770,000 $214,006 $0 0.00%
    Not applicable 19 $49,475,000 $2,603,947 $0 0.00%
    Not provided 46 $9,240,000 $200,870 $0 0.00%
    Asian 6 $1,790,000 $298,333 $0 0.00%
    Black 1 $515,000 $515,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.33%

    Hometown Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.13%

    Hometown Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 384 $127,790,000 $332,786

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $48,785,000 $3,752,692
    Single Family (1-4 Units):Site-Built 371 $79,005,000 $212,951

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    HomeTown Lenders, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    HomeTown Lenders, LLC Other type of mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Hometown Bank 1001 Millbury Street Worcester, MA 1607 Full Service B&M $24,503
    Hometown Bank 109 Elm Street Millbury, MA 1527 Full Service B&M $182,569
    Hometown Bank 13 Canterbury Road Brooklyn, CT 6234 Full Service B&M $26,160
    Hometown Bank 131 Main Street South Lancaster, MA 1561 Full Service B&M $29,438
    Hometown Bank 148 Route 171 Woodstock, CT 6281 Full Service B&M $67,035
    Hometown Bank 182 Main Street Putnam, CT 6260 Full Service B&M $123,210
    Hometown Bank 218r Main Street Webster, MA 1570 Full Service B&M $47,542
    Hometown Bank 3 Central Street Danielson, CT 6239 Full Service B&M $29,803
    Hometown Bank 31 Sutton Avenue Oxford, MA 1540 Full Service B&M $216,723
    Hometown Bank 331 Main Stret Sturbridge, MA 1566 Full Service B&M $62,348
    Hometown Bank 4 Gore Road Webster, MA 1570 Full Service B&M $64,847
    Hometown Bank 569 Southbridge Street Auburn, MA 1501 Full Service B&M $28,519
    Hometown Bank 865 Riverside Drive Grosvenordale, CT 6255 Full Service B&M $43,444
    Hometown Bank 9 Sack Blvd Leominster, MA 1453 Full Service B&M $33,323
    Hometown Bank 90 Exchange St Athol, MA 1331 Full Service B&M $35,048

    For 2020, Hometown Bank had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,698
    Net interest income $33,732
    Total noninterest income $7,948
    Gross Fiduciary activities income $2
    Service charges on deposit accounts $2,487
    Trading account gains and fees $0
    Additional Noninterest Income $5,459
    Pre-tax net operating income $11,548
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,657
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,657
    Minority interest net income $0
    Net income $8,657
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,657

    Hometown Bank's gross interest income from loans was $39,698,000.
    Hometown Bank's net interest income from loans was $33,732,000.
    Hometown Bank's fee based income from loans was $2,487,000.
    Hometown Bank's net income from loans was $8,657,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,966
    Provision for credit losses $1,240
    Total noninterest expense $28,892
    Salaries and employee benefits $16,107
    Premises and equipment expense $2,759
    Additional noninterest expense $10,026
    Applicable income taxes $2,891
    Net charge-offs $549
    Cash dividends $0

    Hometown Bank's interest expense for loans was $5,966,000.
    Hometown Bank's payroll and benefits expense were $16,107,000.
    Hometown Bank's property, plant and equipment expenses $2,759,000.

    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 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    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 $1,062,485
    Deposits held in domestic offices $1,062,485
    Deposits by Individuals, partnerships, and corporations $949,329
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $103,551
    Deposits by Commercial banks and other depository institutions in U.S. $9,605
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $158,285
    Demand deposits $50,817
    Nontransaction accounts $904,200
    Money market deposit accounts (MMDAs) $145,096
    Other savings deposits (excluding MMDAs) $506,451
    Total time deposits $252,653
    Total time and savings deposits $1,011,668
    Noninterest-bearing deposits $182,400
    Interest-bearing deposits $880,085
    Retail deposits $972,126
    IRAs and Keogh plan accounts $47,364
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,206,804
    Cash & Balances due from depository institutions $254,486
    Interest-bearing balances $237,233
    Total securities $142,683
    Federal funds sold & reverse repurchase $0
    Net loans and leases $743,556
    Loan and leases loss allowance $6,928
    Trading account assets $0
    Bank premises and fixed assets $13,793
    Other real estate owned $363
    Goodwill and other intangibles $12,900
    All other assets $39,023

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,206,804
    Total Liabilities $1,079,867
    Total deposits $1,062,485
    Interest-bearing deposits $880,085
    Deposits held in domestic offices $1,062,485
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,000
    Subordinated debt $0
    All other liabilities $11,382

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $743,556
    Loan and leases loss allowance $6,928
    Total loans and leases (domestic) $750,484
    All real estate loans $637,784
    Real estate loans in domestic offices $637,784
    Construction and development loans $53,816
    Residential 1-4 family construction $17,517
    Other construction, all land development and other land $36,299
    Loans secured by nonfarm nonresidential properties $264,009
    Nonfarm nonresidential secured by owner-occupied properties $99,439
    Commercial real estate & other non-farm, non-residential $164,570
    Multifamily residential real estate $52,315
    1-4 family residential loans $266,568
    Farmland loans $1,076
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $102,206
    To non-U.S. addressees $0
    Loans to individuals $3,691
    Credit card loans $0
    Related Plans $93
    Consumer Auto Loans $1,594
    Other loans to individuals $2,004
    All other loans & leases $6,803
    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 $1,461
    Non 1-4 family restructured loans & leases $858
    Total loans and leases (foreign) $0

    Hometown Bank had $743,556,000 of loans outstanding in 2020. $637,784,000 of loans were in real estate loans. $53,816,000 of loans were in development loans. $52,315,000 of loans were in multifamily mortgage loans. $266,568,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,594,000 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 414 $94,200 $227,536
    Nonfarm, nonresidential loans - <$100k 148 $5,418 $36,608
    Nonfarm, nonresidential loans - $100-250k 129 $21,623 $167,620
    Nonfarm, nonresidential loans - $250k-1MM 137 $67,159 $490,212
    Commercial & Industrial, US addressed loans - <$1MM 963 $74,521 $77,384
    Commercial & Industrial, US addressed loans - <$100k 771 $22,267 $28,881
    Commercial & Industrial, US addressed loans - $100-250k 120 $18,792 $156,600
    Commercial & Industrial, US addressed loans - $250k-1MM 72 $33,462 $464,750
    Farmland loans - <$1MM 1 $3 $3,000
    Farmland loans - <$100k 1 $3 $3,000