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, Barnstable Town, and Providence 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

    298

    Origination Dollar Volume (All Markets)

    $111,620,000

    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) 268 $77,970,000 $290,933 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 8 $26,450,000 $3,306,250 $0 0.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $2,105,000 $2,105,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $1,400,000 $350,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 5 $1,255,000 $251,000 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 9 $1,245,000 $138,333 $0 0.00%
    Outside of Metro Areas 1 $855,000 $855,000 $0 0.00%
    Keene, NH (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Hometown Bank's top markets include Worcester, Boston, New Haven, Barnstable Town, 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 298 $111,620,000 $374,564 $0 0.00%

    For 2021, Hometown Bank's most frequently originated type of loan was Conventional, with 298 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 88 $43,560,000 $495,000 $0 0.00%
    Cash Out Refi 88 $17,350,000 $197,159 $0 0.00%
    Refi 70 $45,800,000 $654,286 $0 0.00%
    Home Improvement 32 $2,890,000 $90,313 $0 0.00%
    Other 20 $2,020,000 $101,000 $0 0.00%

    For 2021, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 88 originations. The 2nd most popular reason was Cash Out Refi, with 88 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 298 $111,620,000 $374,564 $0 0.00%

    For 2021, Hometown Bank's most frequently cited loan duration was Other, with 298 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 109 $16,515,000 $151,514 $0 0.00%
    $200k-400k 83 $21,905,000 $263,916 $0 0.00%
    $100,000 or less 59 $3,035,000 $51,441 $0 0.00%
    $400k-600k 32 $15,520,000 $485,000 $0 0.00%
    $1MM+ 10 $50,940,000 $5,094,000 $0 0.00%
    $600k-1MM 5 $3,705,000 $741,000 $0 0.00%

    2021 saw Hometown Bank place emphasis on $100k-200k loans with 109 originations, totaling $16,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $10,990,000 $189,483 $0 0.00%
    $50k-75k 54 $8,840,000 $163,704 $0 0.00%
    $75k-100k 52 $8,580,000 $165,000 $0 0.00%
    $150k-250k 43 $11,765,000 $273,605 $0 0.00%
    $50k or less 35 $4,395,000 $125,571 $0 0.00%
    $250k+ 11 $5,755,000 $523,182 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $50k-75k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 298 $111,620,000 $374,564 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 298 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 39 $59,915,000 $1,536,282 $0 0.00%
    White 217 $44,665,000 $205,829 $0 0.00%
    Not provided 33 $5,005,000 $151,667 $0 0.00%
    Asian 6 $1,350,000 $225,000 $0 0.00%
    American Indian 3 $685,000 $228,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.90%

    Hometown Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.19%

    Hometown Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 298 $111,620,000 $374,564

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    298 $111,620,000 $374,564

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    HomeTown Lenders, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Hometown Bank 1001 Millbury Street Worcester, MA 1607 Full Service B&M $28,550
    Hometown Bank 109 Elm Street Millbury, MA 1527 Full Service B&M $191,587
    Hometown Bank 13 Canterbury Road Brooklyn, CT 6234 Full Service B&M $33,563
    Hometown Bank 131 Main Street South Lancaster, MA 1561 Full Service B&M $30,976
    Hometown Bank 148 Route 171 Woodstock, CT 6281 Full Service B&M $77,047
    Hometown Bank 182 Main Street Putnam, CT 6260 Full Service B&M $129,229
    Hometown Bank 218r Main Street Webster, MA 1570 Full Service B&M $48,232
    Hometown Bank 270 Grove Street Worcester, MA 1605 Full Service B&M $24,149
    Hometown Bank 3 Central Street Danielson, CT 6239 Full Service B&M $34,549
    Hometown Bank 31 Sutton Ave Oxford, MA 1540 Full Service B&M $239,175
    Hometown Bank 331 Main Stret Sturbridge, MA 1566 Full Service B&M $63,967
    Hometown Bank 4 Gore Road Webster, MA 1570 Full Service B&M $71,327
    Hometown Bank 569 Southbridge Street Auburn, MA 1501 Full Service B&M $33,918
    Hometown Bank 865 Riverside Drive Grosvenordale, CT 6255 Full Service B&M $49,909
    Hometown Bank 9 Sack Blvd Leominster, MA 1453 Full Service B&M $43,608
    Hometown Bank 90 Exchange St Athol, MA 1331 Full Service B&M $38,415

    For 2021, Hometown Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,362
    Net interest income $31,867
    Total noninterest income $9,538
    Gross Fiduciary activities income $1
    Service charges on deposit accounts $2,701
    Trading account gains and fees $0
    Additional Noninterest Income $6,836
    Pre-tax net operating income $10,380
    Securities gains (or losses, -) $0
    Income before extraordinary items $7,813
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,813
    Minority interest net income $0
    Net income $7,813
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,813

    Hometown Bank's gross interest income from loans was $34,362,000.
    Hometown Bank's net interest income from loans was $31,867,000.
    Hometown Bank's fee based income from loans was $2,701,000.
    Hometown Bank's net income from loans was $7,813,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,495
    Provision for credit losses $1,935
    Total noninterest expense $29,090
    Salaries and employee benefits $16,468
    Premises and equipment expense $2,959
    Additional noninterest expense $9,663
    Applicable income taxes $2,567
    Net charge-offs $329
    Cash dividends $0

    Hometown Bank's interest expense for loans was $2,495,000.
    Hometown Bank's payroll and benefits expense were $16,468,000.
    Hometown Bank's property, plant and equipment expenses $2,959,000.

    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 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 $1,203,943
    Deposits held in domestic offices $1,203,943
    Deposits by Individuals, partnerships, and corporations $1,074,986
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $123,993
    Deposits by Commercial banks and other depository institutions in U.S. $4,964
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $178,011
    Demand deposits $62,012
    Nontransaction accounts $1,025,932
    Money market deposit accounts (MMDAs) $156,768
    Other savings deposits (excluding MMDAs) $637,429
    Total time deposits $231,736
    Total time and savings deposits $1,141,931
    Noninterest-bearing deposits $219,618
    Interest-bearing deposits $984,325
    Retail deposits $1,119,008
    IRAs and Keogh plan accounts $43,753
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,354,366
    Cash & Balances due from depository institutions $341,334
    Interest-bearing balances $321,996
    Total securities $144,291
    Federal funds sold & reverse repurchase $0
    Net loans and leases $803,390
    Loan and leases loss allowance $8,535
    Trading account assets $0
    Bank premises and fixed assets $13,580
    Other real estate owned $0
    Goodwill and other intangibles $12,779
    All other assets $38,992

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,354,366
    Total Liabilities $1,221,059
    Total deposits $1,203,943
    Interest-bearing deposits $984,325
    Deposits held in domestic offices $1,203,943
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,000
    Subordinated debt $0
    All other liabilities $11,116

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $803,390
    Loan and leases loss allowance $8,535
    Total loans and leases (domestic) $811,925
    All real estate loans $754,210
    Real estate loans in domestic offices $754,210
    Construction and development loans $57,208
    Residential 1-4 family construction $18,757
    Other construction, all land development and other land $38,451
    Loans secured by nonfarm nonresidential properties $390,731
    Nonfarm nonresidential secured by owner-occupied properties $121,947
    Commercial real estate & other non-farm, non-residential $268,784
    Multifamily residential real estate $83,430
    1-4 family residential loans $221,897
    Farmland loans $944
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $47,253
    To non-U.S. addressees $0
    Loans to individuals $3,169
    Credit card loans $0
    Related Plans $75
    Consumer Auto Loans $1,345
    Other loans to individuals $1,749
    All other loans & leases $7,293
    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 $1,486
    Non 1-4 family restructured loans & leases $811
    Total loans and leases (foreign) $0

    Hometown Bank had $803,390,000 of loans outstanding in 2021. $754,210,000 of loans were in real estate loans. $57,208,000 of loans were in development loans. $83,430,000 of loans were in multifamily mortgage loans. $221,897,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,345,000 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 401 $90,861 $226,586
    Nonfarm, nonresidential loans - <$100k 146 $4,970 $34,041
    Nonfarm, nonresidential loans - $100-250k 125 $21,374 $170,992
    Nonfarm, nonresidential loans - $250k-1MM 130 $64,517 $496,285
    Commercial & Industrial, US addressed loans - <$1MM 449 $36,961 $82,318
    Commercial & Industrial, US addressed loans - <$100k 361 $9,602 $26,598
    Commercial & Industrial, US addressed loans - $100-250k 43 $6,913 $160,767
    Commercial & Industrial, US addressed loans - $250k-1MM 45 $20,446 $454,356