Marquette Savings Bank Mortgage Rates, Fees & Info

Erie, PA

LEI: 549300IL0IHBRVBZKO13

Tax ID: 25-0640196

5 stars - out of 5 stars, based on 28 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Marquette Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Marquette Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Erie, Meadville, Youngstown, New Castle, and Oil City among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Marquette Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Marquette Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.57% 3/27/23
    30 Year Conventional Refi 6.58% 3/27/23
    30 Year Cash-out Refi 6.27% 3/27/23
    15 Year Conventional Purchase 6.03% 3/27/23
    15 Year Conventional Refi 5.78% 3/27/23
    15 Year Cash-out Refi 5.78% 3/27/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    774

    Origination Dollar Volume (All Markets)

    $108,310,000

    Awards

    Marquette Savings Bank 30 Year Conventional Loans gold Marquette Savings Bank 30 Year Conventional Loans gold Marquette Savings Bank 30 Year Conventional Loans bronze
    Show all (3) awards

    Relative Rate

    Marquette Savings Bank's average 30 year fixed mortgage rate was 5.06%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.3%.

    Relative Fees (Closing Costs)

    Marquette Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,904.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    ERIE, PA (FHA|USDA|VA) 547 $80,035,000 $146,316 $1,890 4.48%
    Meadville, PA (FHA|USDA|VA) 205 $25,065,000 $122,268 $1,619 4.46%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 12 $1,830,000 $152,500 $2,984 4.74%
    New Castle, PA (FHA|USDA|VA) 1 $425,000 $425,000 $0 6.50%
    Oil City, PA (FHA|USDA|VA) 5 $395,000 $79,000 $1,934 5.00%
    Warren, PA (FHA|USDA|VA) 3 $355,000 $118,333 $1,160 2.96%
    Outside of Metro Areas 1 $205,000 $205,000 $4,055 5.00%
    Marquette Savings Bank's top markets include Erie, Meadville, Youngstown, New Castle, and Oil City among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Marquette Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Widget Federal Credit Union
    Similarity Rank: 36
    ERIE FEDERAL CREDIT UNION
    Similarity Rank: 297
    Marquette Savings Bank
    Similarity Rank: 315
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 684
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 1188
    HOWARD HANNA FINANCIAL SERVICES, INC.
    Similarity Rank: 1357
    AFFORDABLE MORTGAGE ADVISORS, LLC.
    Similarity Rank: 1620
    CNB Bank
    Similarity Rank: 1848
    FIRST HERITAGE FINANCIAL, LLC
    Similarity Rank: 1978
    First National Bank of Pennsylvania
    Similarity Rank: 4350

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 774 $108,310,000 $139,935 $1,835 4.48%

    For 2022, Marquette Savings Bank's most frequently originated type of loan was Conventional, with 774 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 361 $70,885,000 $196,357 $3,398 5.00%
    Refi 188 $23,000,000 $122,340 $812 3.97%
    Home Improvement 121 $6,695,000 $55,331 $182 4.14%
    Other 97 $6,505,000 $67,062 $295 4.00%
    Cash Out Refi 7 $1,225,000 $175,000 $2,667 4.07%

    For 2022, Marquette Savings Bank's most frequently cited loan purpose was Home Purchase, with 361 originations. The 2nd most popular reason was Refi, with 188 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 240 $38,450,000 $160,208 $2,904 5.06%
    15 Year 164 $17,310,000 $105,549 $957 4.34%
    20 Year 139 $16,915,000 $121,691 $583 4.67%
    10 Year 100 $6,480,000 $64,800 $307 3.88%
    5 Year 68 $2,790,000 $41,029 $122 3.33%
    30+ year 44 $19,600,000 $445,455 $7,169 4.67%
    Other 18 $6,760,000 $375,556 $5,540 3.77%
    3 Year 1 $5,000 $5,000 $116 5.13%

    For 2022, Marquette Savings Bank's most frequently cited loan duration was 30 Year, with 240 originations. The 2nd most popular length was 15 Year, with 164 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 679 $77,245,000 $113,763
    $2k-3k 20 $7,180,000 $359,000
    $1k-2k 15 $2,805,000 $187,000
    $3k-4k 14 $7,310,000 $522,143
    $5k+ 6 $5,740,000 $956,667
    $4k-5k 4 $2,960,000 $740,000

    Marquette Savings Bank's average total fees were $2,904, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 679 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 276 $39,400,000 $142,754
    5-6% 185 $30,015,000 $162,243
    4-5% 176 $22,870,000 $129,943
    6-7% 63 $8,975,000 $142,460
    2.5-3% 60 $5,110,000 $85,167
    <2.5% 8 $1,470,000 $183,750
    7-8% 6 $470,000 $78,333

    During 2022, Marquette Savings Bank's average interest rate for loans was 5.06%, while their most frequently originated rate bucket for loans was 3-4%, with 276 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 373 $19,785,000 $53,043 $685 4.40%
    $100k-200k 246 $34,650,000 $140,854 $1,926 4.53%
    $200k-400k 115 $30,525,000 $265,435 $3,408 4.70%
    $400k-600k 28 $13,310,000 $475,357 $6,596 4.52%
    $600k-1MM 9 $6,695,000 $743,889 $8,773 3.96%
    $1MM+ 3 $3,345,000 $1,115,000 $12,990 4.17%

    2022 saw Marquette Savings Bank place emphasis on $100,000 or less loans with 373 originations, totaling $19,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 167 $24,855,000 $148,832 $1,730 4.40%
    $50k-75k 156 $16,810,000 $107,756 $1,728 4.53%
    $50k or less 145 $10,455,000 $72,103 $1,370 4.61%
    $75k-100k 128 $14,960,000 $116,875 $1,445 4.48%
    $150k-250k 103 $23,005,000 $223,350 $2,793 4.35%
    $250k+ 31 $12,615,000 $406,935 $4,904 4.22%

    Marquette Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 167 originations. The second most popular income band? $50k-75k, with 156 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 238 $29,760,000 $125,042 $1,598 4.36%
    30-36% 196 $26,230,000 $133,827 $1,848 4.56%
    <20% 88 $9,930,000 $112,841 $1,365 4.15%
    36% 34 $4,500,000 $132,353 $1,441 4.66%
    37% 30 $3,810,000 $127,000 $1,745 4.27%
    39% 29 $5,505,000 $189,828 $2,794 4.73%
    38% 24 $3,160,000 $131,667 $1,569 4.79%
    41% 23 $2,965,000 $128,913 $1,706 4.29%
    40% 21 $3,115,000 $148,333 $1,608 4.39%
    42% 18 $2,180,000 $121,111 $1,608 4.75%
    43% 10 $2,380,000 $238,000 $4,046 4.07%
    44% 8 $2,500,000 $312,500 $3,855 4.88%
    46% 8 $3,600,000 $450,000 $6,542 4.52%
    45% 7 $2,445,000 $349,286 $4,279 5.20%
    50-60% 6 $1,160,000 $193,333 $2,886 4.98%
    >60% 4 $330,000 $82,500 $0 5.13%
    49% 2 $230,000 $115,000 $2,292 4.25%
    48% 1 $255,000 $255,000 $5,376 5.38%

    Marquette Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 238 originations. The next most common DTI ratio? 30-36%, with 196 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 701 $96,885,000 $138,210 $1,808 4.43%
    Not applicable 25 $3,985,000 $159,400 $0 5.20%
    Not provided 21 $3,605,000 $171,667 $2,280 4.58%
    Asian 8 $2,590,000 $323,750 $4,951 5.06%
    Black 15 $875,000 $58,333 $869 5.10%
    American Indian 4 $370,000 $92,500 $931 4.75%

    Approval Rates

    Total approvals of all applications
    91.80%

    Marquette Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.31%

    Marquette Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 774 $108,310,000 $139,935

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    774 $108,310,000 $139,935

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 89 $6,115,000 $68,708 $521 4.18%
    40-60% 100 $11,550,000 $115,500 $1,140 4.34%
    60-80% 245 $43,365,000 $177,000 $2,227 4.59%
    80-100% 217 $43,135,000 $198,779 $3,233 4.86%
    Under 20% 123 $4,145,000 $33,699 $192 3.95%