Hometown Bank Mortgage Rates, Fees & Info
Oxford, MALEI: 549300HLPEQ31HY26E57
Tax ID: 04-1953445
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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, Providence, Barnstable Town, Springfield, and Portland among others. We have data for 11 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.
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Originations
211Origination Dollar Volume (All Markets)
$73,495,000Top 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) | 186 | $63,110,000 | $339,301 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 4 | $4,260,000 | $1,065,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $1,635,000 | $545,000 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 8 | $1,520,000 | $190,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $885,000 | $885,000 | $0 | 0.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 0.00% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 211 | $73,495,000 | $348,318 | $0 | 0.00% |
For 2022, Hometown Bank's most frequently originated type of loan was Conventional, with 211 originations.
Loan Reason
For 2022, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 69 originations. The 2nd most popular reason was Refi, with 47 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 211 | $73,495,000 | $348,318 | $0 | 0.00% |
For 2022, Hometown Bank's most frequently cited loan duration was Other, with 211 originations.
Loan Sizing
2022 saw Hometown Bank place emphasis on $100,000 or less loans with 63 originations, totaling $3,065,000 in origination value.
Applicant Income
Hometown Bank lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $50k-75k, with 40 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 211 | $73,495,000 | $348,318 | $0 | 0.00% |
Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 211 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.96%
Hometown Bank has a below average approval rate.
Pick Rate
Approvals leading to origination84.83%
Hometown Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 211 | $73,495,000 | $348,318 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |