Marquette Savings Bank Mortgage Rates, Fees & Info

Erie, PA

LEI: 549300IL0IHBRVBZKO13

Tax ID: 25-0640196

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Oil City, and Warren 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 average approval rate when compared to the average across all lenders. They have a below 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.57% 12/4/24
    30 Year Conventional Refi 6.58% 12/4/24
    30 Year Cash-out Refi 6.27% 12/4/24
    15 Year Conventional Purchase 6.03% 12/4/24
    15 Year Conventional Refi 5.78% 12/4/24
    15 Year Cash-out Refi 5.78% 12/4/24
    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.

    Marquette Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Marquette Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    663

    Origination Dollar Volume (All Markets)

    $74,485,000

    Employee count

    128

    Awards

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

    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) 455 $51,305,000 $112,758 $1,418 4.61%
    Meadville, PA (FHA|USDA|VA) 188 $20,410,000 $108,564 $1,760 4.60%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 8 $1,390,000 $173,750 $1,129 4.27%
    Oil City, PA (FHA|USDA|VA) 5 $815,000 $163,000 $1,268 4.25%
    Warren, PA (FHA|USDA|VA) 5 $375,000 $75,000 $1,598 4.88%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $135,000 $135,000 $1,574 4.63%
    Outside of Metro Areas 1 $55,000 $55,000 $1,831 5.75%
    Marquette Savings Bank's top markets include Erie, Meadville, Youngstown, Oil City, and Warren 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: 32
    Marquette Savings Bank
    Similarity Rank: 133
    ERIE FEDERAL CREDIT UNION
    Similarity Rank: 143
    HOWARD HANNA FINANCIAL SERVICES, INC.
    Similarity Rank: 200
    AFFORDABLE MORTGAGE ADVISORS, LLC.
    Similarity Rank: 320
    FIRST HERITAGE FINANCIAL, LLC
    Similarity Rank: 800
    Princeton Mortgage Corporation
    Similarity Rank: 999
    CNB Bank
    Similarity Rank: 1200
    Northwest Bank
    Similarity Rank: 1450
    FRANKLIN AMERICAN MORTGAGE CO
    Similarity Rank: 3731

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 663 $74,485,000 $112,345 $1,514 4.61%

    For 2018, Marquette Savings Bank's most frequently originated type of loan was Conventional, with 663 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 346 $47,300,000 $136,705 $2,523 4.81%
    Refi 175 $19,695,000 $112,543 $413 4.47%
    Home Improvement 65 $2,485,000 $38,231 $147 4.29%
    Other 63 $2,845,000 $45,159 $231 4.28%
    Cash Out Refi 14 $2,160,000 $154,286 $2,641 4.31%

    For 2018, Marquette Savings Bank's most frequently cited loan purpose was Home Purchase, with 346 originations. The 2nd most popular reason was Refi, with 175 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 219 $28,535,000 $130,297 $2,506 4.87%
    15 Year 130 $12,680,000 $97,538 $950 4.74%
    20 Year 125 $14,415,000 $115,320 $612 4.72%
    10 Year 85 $4,605,000 $54,176 $242 4.11%
    5 Year 47 $1,735,000 $36,915 $152 3.68%
    30+ year 35 $9,575,000 $273,571 $5,086 4.59%
    Other 17 $2,885,000 $169,706 $2,273 4.45%
    3 Year 5 $55,000 $11,000 $239 4.13%

    For 2018, Marquette Savings Bank's most frequently cited loan duration was 30 Year, with 219 originations. The 2nd most popular length was 15 Year, with 130 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 596 $59,080,000 $99,128
    $2k-3k 23 $6,345,000 $275,870
    $1k-2k 21 $3,445,000 $164,048
    $3k-4k 5 $1,865,000 $373,000
    $5k+ 2 $480,000 $240,000
    $4k-5k 1 $165,000 $165,000

    Marquette Savings Bank's average total fees were $2,506, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 596 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 358 $47,600,000 $132,961
    3-4% 166 $14,980,000 $90,241
    5-6% 118 $10,900,000 $92,373
    6-7% 13 $585,000 $45,000
    2.5-3% 8 $420,000 $52,500

    During 2018, Marquette Savings Bank's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 4-5%, with 358 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 372 $19,040,000 $51,183 $741 4.65%
    $100k-200k 197 $26,825,000 $136,168 $2,005 4.56%
    $200k-400k 79 $20,845,000 $263,861 $3,485 4.56%
    $400k-600k 12 $5,610,000 $467,500 $3,888 4.28%
    $600k-1MM 3 $2,165,000 $721,667 $7,740 5.09%

    2018 saw Marquette Savings Bank place emphasis on $100,000 or less loans with 372 originations, totaling $19,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 178 $16,710,000 $93,876 $1,453 4.60%
    $50k or less 150 $9,330,000 $62,200 $1,083 4.88%
    $100k-150k 131 $17,005,000 $129,809 $1,869 4.44%
    $75k-100k 100 $11,520,000 $115,200 $1,567 4.53%
    $150k-250k 58 $8,700,000 $150,000 $1,985 4.51%
    $250k+ 28 $7,740,000 $276,429 $2,024 4.35%

    Marquette Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 178 originations. The second most popular income band? $50k or less, with 150 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 227 $22,995,000 $101,300 $1,395 4.48%
    30-36% 151 $16,425,000 $108,775 $1,342 4.63%
    <20% 101 $7,805,000 $77,277 $1,038 4.51%
    36% 31 $3,765,000 $121,452 $2,257 4.96%
    37% 25 $2,725,000 $109,000 $1,229 4.91%
    39% 24 $2,980,000 $124,167 $1,361 4.83%
    38% 21 $3,645,000 $173,571 $2,738 4.64%
    41% 20 $3,160,000 $158,000 $2,457 4.64%
    42% 15 $2,605,000 $173,667 $2,443 4.63%
    40% 15 $2,095,000 $139,667 $2,817 4.47%
    43% 6 $640,000 $106,667 $1,351 4.77%
    50-60% 5 $835,000 $167,000 $76 5.24%
    44% 5 $665,000 $133,000 $2,721 4.53%
    >60% 3 $385,000 $128,333 $0 5.48%
    49% 3 $895,000 $298,333 $2,327 4.63%
    45% 2 $290,000 $145,000 $2,622 4.19%
    46% 2 $260,000 $130,000 $2,987 4.25%
    47% 1 $145,000 $145,000 $4,025 4.63%

    Marquette Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 227 originations. The next most common DTI ratio? 30-36%, with 151 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 604 $67,340,000 $111,490 $1,544 4.59%
    Not applicable 6 $2,170,000 $361,667 $0 5.58%
    Not provided 22 $1,900,000 $86,364 $538 4.63%
    Asian 11 $1,645,000 $149,545 $2,849 4.27%
    Black 17 $935,000 $55,000 $679 5.06%
    American Indian 2 $450,000 $225,000 $1,672 4.88%
    Other Asian 1 $45,000 $45,000 $1,606 5.75%

    Approval Rates

    Total approvals of all applications
    89.36%

    Marquette Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.29%

    Marquette Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 663 $74,485,000 $112,345

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,825,000 $365,000
    Single Family (1-4 Units):Manufactured 14 $1,200,000 $85,714
    Single Family (1-4 Units):Site-Built 644 $71,460,000 $110,963

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 80 $4,010,000 $50,125 $283 4.33%
    40-60% 68 $7,110,000 $104,559 $878 4.51%
    60-80% 233 $32,985,000 $141,567 $1,871 4.73%
    80-100% 198 $27,490,000 $138,838 $2,416 4.81%
    Under 20% 84 $2,890,000 $34,405 $162 4.11%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Marquette Savings Bank 1075 Park Avenue Meadville, PA 16335 Full Service B&M $108,276
    Marquette Savings Bank 14 North Main St Albion, PA 16401 Full Service B&M $39,839
    Marquette Savings Bank 16272 Conneaut Lake Road Meadville, PA 16335 Full Service Retail $14,292
    Marquette Savings Bank 1775 East 38th Street Erie, PA 16510 Full Service B&M $55,147
    Marquette Savings Bank 209 Plum Street Edinboro, PA 16412 Full Service B&M $39,851
    Marquette Savings Bank 210 Water St. Conneaut Lake, PA 16316 Full Service B&M $53,926
    Marquette Savings Bank 2320 West 12th St Erie, PA 16505 Full Service B&M $79,670
    Marquette Savings Bank 3404 Liberty Street Erie, PA 16509 Full Service B&M $110,867
    Marquette Savings Bank 349 North Street Meadville, PA 16335 Limited, Drive-thru $0
    Marquette Savings Bank 3801 Sterrettania Road Erie, PA 16506 Full Service B&M $63,679
    Marquette Savings Bank 920 Peach Street Erie, PA 16501 Full Service B&M $134,281
    Marquette Savings Bank 953 South Main Street Meadville, PA 16335 Limited, Administrative $0

    For 2018, Marquette Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,275
    Net interest income $26,779
    Total noninterest income $2,650
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $466
    Trading account gains and fees $0
    Additional Noninterest Income $2,184
    Pre-tax net operating income $9,389
    Securities gains (or losses, -) $39
    Income before extraordinary items $7,781
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,781
    Minority interest net income $0
    Net income $7,781
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,748

    Marquette Savings Bank's gross interest income from loans was $32,275,000.
    Marquette Savings Bank's net interest income from loans was $26,779,000.
    Marquette Savings Bank's fee based income from loans was $466,000.
    Marquette Savings Bank's net income from loans was $7,781,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,496
    Provision for credit losses $409
    Total noninterest expense $19,631
    Salaries and employee benefits $9,862
    Premises and equipment expense $3,291
    Additional noninterest expense $6,478
    Applicable income taxes $1,647
    Net charge-offs $153
    Cash dividends $0

    Marquette Savings Bank's interest expense for loans was $5,496,000.
    Marquette Savings Bank's payroll and benefits expense were $9,862,000.
    Marquette Savings Bank's property, plant and equipment expenses $3,291,000.

    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 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $699,003
    Deposits held in domestic offices $699,003
    Deposits by Individuals, partnerships, and corporations $666,749
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $31,705
    Deposits by Commercial banks and other depository institutions in U.S. $549
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $141,596
    Demand deposits $141,596
    Nontransaction accounts $557,407
    Money market deposit accounts (MMDAs) $159,572
    Other savings deposits (excluding MMDAs) $94,925
    Total time deposits $302,910
    Total time and savings deposits $557,407
    Noninterest-bearing deposits $89,672
    Interest-bearing deposits $609,331
    Retail deposits $657,341
    IRAs and Keogh plan accounts $92,286
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $861,086
    Cash & Balances due from depository institutions $11,085
    Interest-bearing balances $9,145
    Total securities $248,193
    Federal funds sold & reverse repurchase $0
    Net loans and leases $542,798
    Loan and leases loss allowance $2,109
    Trading account assets $0
    Bank premises and fixed assets $17,928
    Other real estate owned $372
    Goodwill and other intangibles $3,576
    All other assets $37,134

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $861,086
    Total Liabilities $705,610
    Total deposits $699,003
    Interest-bearing deposits $609,331
    Deposits held in domestic offices $699,003
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,500
    Subordinated debt $0
    All other liabilities $4,107

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $542,798
    Loan and leases loss allowance $2,109
    Total loans and leases (domestic) $544,907
    All real estate loans $504,992
    Real estate loans in domestic offices $504,992
    Construction and development loans $12,276
    Residential 1-4 family construction $11,729
    Other construction, all land development and other land $547
    Loans secured by nonfarm nonresidential properties $51,259
    Nonfarm nonresidential secured by owner-occupied properties $34,504
    Commercial real estate & other non-farm, non-residential $16,755
    Multifamily residential real estate $7,023
    1-4 family residential loans $434,215
    Farmland loans $219
    Loans held in foreign offices $0
    Farm loans $499
    Commercial and industrial loans $37,243
    To non-U.S. addressees $0
    Loans to individuals $1,914
    Credit card loans $0
    Related Plans $936
    Consumer Auto Loans $5
    Other loans to individuals $973
    All other loans & leases $259
    Loans to foreign governments and official institutions $0
    Other loans $149
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Marquette Savings Bank had $542,798,000 of loans outstanding in 2018. $504,992,000 of loans were in real estate loans. $12,276,000 of loans were in development loans. $7,023,000 of loans were in multifamily mortgage loans. $434,215,000 of loans were in 1-4 family mortgage loans. $499,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,000 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 166 $51,259 $308,789
    Nonfarm, nonresidential loans - <$100k 51 $2,668 $52,314
    Nonfarm, nonresidential loans - $100-250k 52 $6,684 $128,538
    Nonfarm, nonresidential loans - $250k-1MM 63 $41,907 $665,190
    Commercial & Industrial, US addressed loans - <$1MM 246 $37,243 $151,394
    Commercial & Industrial, US addressed loans - <$100k 136 $4,079 $29,993
    Commercial & Industrial, US addressed loans - $100-250k 53 $5,222 $98,528
    Commercial & Industrial, US addressed loans - $250k-1MM 57 $27,942 $490,211
    Farmland loans - <$1MM 4 $219 $54,750
    Farmland loans - <$100k 3 $143 $47,667
    Farmland loans - $100-250k 1 $76 $76,000
    Agriculture operations loans - <$1MM 4 $499 $124,750
    Agriculture operations loans - <$100k 2 $51 $25,500
    Agriculture operations loans - $100-250k 1 $151 $151,000
    Agriculture operations loans - $250k-1MM 1 $297 $297,000