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
  • Complaints
  • 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, Pittsburgh, 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 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.

    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% 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

    711

    Origination Dollar Volume (All Markets)

    $81,455,000

    Employee count

    135

    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) 504 $58,540,000 $116,151 $1,495 4.25%
    Meadville, PA (FHA|USDA|VA) 193 $21,385,000 $110,803 $1,585 4.26%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 8 $840,000 $105,000 $1,868 4.44%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $315,000 $315,000 $3,891 3.63%
    Oil City, PA (FHA|USDA|VA) 3 $215,000 $71,667 $2,344 5.17%
    Warren, PA (FHA|USDA|VA) 1 $105,000 $105,000 $87 4.25%
    New Castle, PA (FHA|USDA|VA) 1 $55,000 $55,000 $68 4.50%
    Marquette Savings Bank's top markets include Erie, Meadville, Youngstown, Pittsburgh, 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: 50
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 76
    ERIE FEDERAL CREDIT UNION
    Similarity Rank: 112
    Marquette Savings Bank
    Similarity Rank: 168
    FIRST HERITAGE FINANCIAL, LLC
    Similarity Rank: 188
    HOWARD HANNA FINANCIAL SERVICES, INC.
    Similarity Rank: 440
    AFFORDABLE MORTGAGE ADVISORS, LLC.
    Similarity Rank: 672
    Princeton Mortgage Corporation
    Similarity Rank: 1518
    CNB Bank
    Similarity Rank: 1664
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 1770

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 711 $81,455,000 $114,564 $1,527 4.26%

    For 2019, Marquette Savings Bank's most frequently originated type of loan was Conventional, with 711 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 338 $47,030,000 $139,142 $2,661 4.47%
    Refi 201 $21,425,000 $106,592 $410 4.05%
    Home Improvement 76 $3,670,000 $48,289 $272 4.29%
    Other 67 $4,105,000 $61,269 $202 4.03%
    Cash Out Refi 29 $5,225,000 $180,172 $2,739 3.70%

    For 2019, Marquette Savings Bank's most frequently cited loan purpose was Home Purchase, with 338 originations. The 2nd most popular reason was Refi, with 201 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 232 $31,900,000 $137,500 $2,515 4.43%
    15 Year 138 $13,390,000 $97,029 $1,123 4.44%
    20 Year 115 $13,125,000 $114,130 $776 4.51%
    10 Year 102 $7,090,000 $69,510 $293 3.84%
    5 Year 71 $2,655,000 $37,394 $100 3.54%
    30+ year 34 $10,600,000 $311,765 $5,032 4.25%
    Other 17 $2,655,000 $156,176 $2,235 4.26%
    3 Year 2 $40,000 $20,000 $95 3.63%

    For 2019, Marquette Savings Bank's most frequently cited loan duration was 30 Year, with 232 originations. The 2nd most popular length was 15 Year, with 138 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 638 $65,850,000 $103,213
    $1k-2k 22 $3,880,000 $176,364
    $2k-3k 17 $4,515,000 $265,588
    $3k-4k 6 $2,100,000 $350,000
    $5k+ 4 $2,810,000 $702,500
    $4k-5k 1 $715,000 $715,000

    Marquette Savings Bank's average total fees were $2,515, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 638 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 317 $42,575,000 $134,306
    4-5% 239 $28,645,000 $119,854
    5-6% 100 $7,370,000 $73,700
    2.5-3% 37 $1,835,000 $49,595
    6-7% 18 $1,030,000 $57,222

    During 2019, Marquette Savings Bank's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 3-4%, with 317 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 392 $20,820,000 $53,112 $788 4.38%
    $100k-200k 222 $31,170,000 $140,405 $1,896 4.16%
    $200k-400k 84 $21,270,000 $253,214 $3,204 4.01%
    $400k-600k 8 $4,120,000 $515,000 $4,204 4.05%
    $600k-1MM 5 $4,075,000 $815,000 $7,897 3.73%

    2019 saw Marquette Savings Bank place emphasis on $100,000 or less loans with 392 originations, totaling $20,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 164 $15,340,000 $93,537 $1,526 4.30%
    $50k or less 153 $9,905,000 $64,739 $1,262 4.63%
    $100k-150k 140 $18,830,000 $134,500 $1,758 4.02%
    $75k-100k 124 $13,180,000 $106,290 $1,389 4.11%
    $150k-250k 60 $10,320,000 $172,000 $1,788 4.10%
    $250k+ 38 $10,740,000 $282,632 $2,562 4.09%

    Marquette Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 164 originations. The second most popular income band? $50k or less, with 153 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 261 $30,785,000 $117,950 $1,485 4.17%
    30-36% 170 $20,280,000 $119,294 $1,462 4.23%
    <20% 120 $11,380,000 $94,833 $1,268 4.17%
    37% 43 $4,915,000 $114,302 $1,382 4.46%
    36% 21 $2,105,000 $100,238 $1,212 4.22%
    38% 15 $2,865,000 $191,000 $2,373 4.56%
    40% 15 $1,385,000 $92,333 $1,685 4.50%
    41% 14 $1,840,000 $131,429 $2,256 3.99%
    44% 9 $1,455,000 $161,667 $2,870 4.28%
    39% 8 $1,140,000 $142,500 $2,459 4.56%
    42% 6 $920,000 $153,333 $3,240 4.21%
    43% 6 $450,000 $75,000 $1,830 4.46%
    >60% 5 $415,000 $83,000 $1,501 5.40%
    50-60% 4 $340,000 $85,000 $3,383 4.63%
    48% 2 $250,000 $125,000 $2,549 4.81%
    45% 1 $205,000 $205,000 $4,433 4.00%

    Marquette Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 261 originations. The next most common DTI ratio? 30-36%, with 170 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 663 $77,885,000 $117,474 $1,524 4.20%
    Asian 9 $885,000 $98,333 $1,796 4.60%
    Black 17 $835,000 $49,118 $1,137 5.13%
    Not provided 8 $750,000 $93,750 $1,646 4.98%
    Not applicable 11 $725,000 $65,909 $0 5.39%
    Other Asian 2 $250,000 $125,000 $4,278 3.75%
    Asian Indian 1 $125,000 $125,000 $317 4.00%

    Approval Rates

    Total approvals of all applications
    90.07%

    Marquette Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.19%

    Marquette Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 711 $81,455,000 $114,564

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $395,000 $131,667
    Single Family (1-4 Units):Manufactured 15 $1,185,000 $79,000
    Single Family (1-4 Units):Site-Built 693 $79,875,000 $115,260

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 84 $4,800,000 $57,143 $329 3.94%
    40-60% 76 $8,580,000 $112,895 $1,224 4.05%
    60-80% 239 $32,235,000 $134,874 $1,638 4.38%
    80-100% 228 $33,600,000 $147,368 $2,505 4.47%
    Under 20% 84 $2,240,000 $26,667 $115 3.85%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Market Place Mortgage Corp. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Market Place Mortgage Corp. FHA mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Marquette Savings Bank 1075 Park Avenue Meadville, PA 16335 Full Service B&M $96,559
    Marquette Savings Bank 14 North Main St Albion, PA 16401 Full Service B&M $38,869
    Marquette Savings Bank 16272 Conneaut Lake Road Meadville, PA 16335 Full Service Retail $19,629
    Marquette Savings Bank 1775 East 38th Street Erie, PA 16510 Full Service B&M $61,176
    Marquette Savings Bank 209 Plum Street Edinboro, PA 16412 Full Service B&M $40,252
    Marquette Savings Bank 210 Water St. Conneaut Lake, PA 16316 Full Service B&M $57,733
    Marquette Savings Bank 2320 West 12th St Erie, PA 16505 Full Service B&M $76,023
    Marquette Savings Bank 3404 Liberty Street Erie, PA 16509 Full Service B&M $108,171
    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 $69,996
    Marquette Savings Bank 920 Peach Street Erie, PA 16501 Full Service B&M $158,914
    Marquette Savings Bank 953 South Main Street Meadville, PA 16335 Limited, Administrative $0

    For 2019, Marquette Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,629
    Net interest income $25,664
    Total noninterest income $3,039
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $521
    Trading account gains and fees $0
    Additional Noninterest Income $2,518
    Pre-tax net operating income $7,314
    Securities gains (or losses, -) $-1
    Income before extraordinary items $6,275
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,275
    Minority interest net income $0
    Net income $6,275
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,275

    Marquette Savings Bank's gross interest income from loans was $33,629,000.
    Marquette Savings Bank's net interest income from loans was $25,664,000.
    Marquette Savings Bank's fee based income from loans was $521,000.
    Marquette Savings Bank's net income from loans was $6,275,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,965
    Provision for credit losses $351
    Total noninterest expense $21,038
    Salaries and employee benefits $10,382
    Premises and equipment expense $3,736
    Additional noninterest expense $6,920
    Applicable income taxes $1,038
    Net charge-offs $214
    Cash dividends $0

    Marquette Savings Bank's interest expense for loans was $7,965,000.
    Marquette Savings Bank's payroll and benefits expense were $10,382,000.
    Marquette Savings Bank's property, plant and equipment expenses $3,736,000.

    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 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 $766,518
    Deposits held in domestic offices $766,518
    Deposits by Individuals, partnerships, and corporations $734,889
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $30,975
    Deposits by Commercial banks and other depository institutions in U.S. $654
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $186,589
    Demand deposits $186,589
    Nontransaction accounts $579,929
    Money market deposit accounts (MMDAs) $159,999
    Other savings deposits (excluding MMDAs) $90,852
    Total time deposits $329,078
    Total time and savings deposits $579,929
    Noninterest-bearing deposits $109,601
    Interest-bearing deposits $656,917
    Retail deposits $720,153
    IRAs and Keogh plan accounts $94,043
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $938,607
    Cash & Balances due from depository institutions $36,012
    Interest-bearing balances $34,031
    Total securities $299,998
    Federal funds sold & reverse repurchase $0
    Net loans and leases $536,390
    Loan and leases loss allowance $2,245
    Trading account assets $0
    Bank premises and fixed assets $19,689
    Other real estate owned $262
    Goodwill and other intangibles $3,537
    All other assets $42,719

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $938,607
    Total Liabilities $771,687
    Total deposits $766,518
    Interest-bearing deposits $656,917
    Deposits held in domestic offices $766,518
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,169

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $536,390
    Loan and leases loss allowance $2,245
    Total loans and leases (domestic) $538,635
    All real estate loans $500,529
    Real estate loans in domestic offices $500,529
    Construction and development loans $14,066
    Residential 1-4 family construction $12,901
    Other construction, all land development and other land $1,165
    Loans secured by nonfarm nonresidential properties $53,850
    Nonfarm nonresidential secured by owner-occupied properties $38,670
    Commercial real estate & other non-farm, non-residential $15,180
    Multifamily residential real estate $6,558
    1-4 family residential loans $425,853
    Farmland loans $202
    Loans held in foreign offices $0
    Farm loans $337
    Commercial and industrial loans $35,703
    To non-U.S. addressees $0
    Loans to individuals $1,705
    Credit card loans $0
    Related Plans $816
    Consumer Auto Loans $3
    Other loans to individuals $886
    All other loans & leases $361
    Loans to foreign governments and official institutions $0
    Other loans $132
    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 $536,390,000 of loans outstanding in 2019. $500,529,000 of loans were in real estate loans. $14,066,000 of loans were in development loans. $6,558,000 of loans were in multifamily mortgage loans. $425,853,000 of loans were in 1-4 family mortgage loans. $337,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,000 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 168 $53,850 $320,536
    Nonfarm, nonresidential loans - <$100k 50 $2,524 $50,480
    Nonfarm, nonresidential loans - $100-250k 55 $6,909 $125,618
    Nonfarm, nonresidential loans - $250k-1MM 63 $44,417 $705,032
    Commercial & Industrial, US addressed loans - <$1MM 227 $35,703 $157,282
    Commercial & Industrial, US addressed loans - <$100k 119 $3,627 $30,479
    Commercial & Industrial, US addressed loans - $100-250k 51 $5,318 $104,275
    Commercial & Industrial, US addressed loans - $250k-1MM 57 $26,758 $469,439
    Farmland loans - <$1MM 4 $202 $50,500
    Farmland loans - <$100k 4 $202 $50,500
    Agriculture operations loans - <$1MM 4 $337 $84,250
    Agriculture operations loans - <$100k 2 $33 $16,500
    Agriculture operations loans - $100-250k 1 $143 $143,000
    Agriculture operations loans - $250k-1MM 1 $161 $161,000