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 Refi and Home Purchase loans. Marquette Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Erie, Meadville, Youngstown, Warren, and Oil City among others. We have data for 6 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.57% 4/21/24
    30 Year Conventional Refi 6.58% 4/21/24
    30 Year Cash-out Refi 6.27% 4/21/24
    15 Year Conventional Purchase 6.03% 4/21/24
    15 Year Conventional Refi 5.78% 4/21/24
    15 Year Cash-out Refi 5.78% 4/21/24
    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

    860

    Origination Dollar Volume (All Markets)

    $131,890,000

    Employee count

    140

    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

    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) 616 $99,110,000 $160,893 $2,269 3.30%
    Meadville, PA (FHA|USDA|VA) 224 $29,050,000 $129,688 $2,204 3.33%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 10 $2,040,000 $204,000 $3,112 3.18%
    Warren, PA (FHA|USDA|VA) 5 $755,000 $151,000 $2,665 3.38%
    Oil City, PA (FHA|USDA|VA) 4 $480,000 $120,000 $2,355 3.22%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $455,000 $455,000 $4,351 2.88%
    Marquette Savings Bank's top markets include Erie, Meadville, Youngstown, Warren, 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
    Marquette Savings Bank
    Similarity Rank: 270
    ERIE FEDERAL CREDIT UNION
    Similarity Rank: 528
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 684
    HOWARD HANNA FINANCIAL SERVICES, INC.
    Similarity Rank: 1173
    AFFORDABLE MORTGAGE ADVISORS, LLC.
    Similarity Rank: 1458
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 1672
    CNB Bank
    Similarity Rank: 1782
    FIRST HERITAGE FINANCIAL, LLC
    Similarity Rank: 2494
    First National Bank of Pennsylvania
    Similarity Rank: 4000

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 860 $131,890,000 $153,360 $2,268 3.30%

    For 2021, Marquette Savings Bank's most frequently originated type of loan was Conventional, with 860 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 375 $57,255,000 $152,680 $1,877 3.15%
    Home Purchase 359 $61,555,000 $171,462 $3,152 3.46%
    Other 45 $3,565,000 $79,222 $389 3.45%
    Home Improvement 44 $2,750,000 $62,500 $241 3.59%
    Cash Out Refi 37 $6,765,000 $182,838 $2,871 2.81%

    For 2021, Marquette Savings Bank's most frequently cited loan purpose was Refi, with 375 originations. The 2nd most popular reason was Home Purchase, with 359 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 290 $48,790,000 $168,241 $2,806 3.40%
    15 Year 238 $31,010,000 $130,294 $2,024 3.17%
    20 Year 140 $18,980,000 $135,571 $1,478 3.54%
    10 Year 79 $9,755,000 $123,481 $693 3.28%
    30+ year 44 $14,070,000 $319,773 $5,804 3.12%
    Other 37 $8,045,000 $217,432 $3,230 3.02%
    5 Year 31 $1,235,000 $39,839 $212 2.97%
    3 Year 1 $5,000 $5,000 $80 4.25%

    For 2021, Marquette Savings Bank's most frequently cited loan duration was 30 Year, with 290 originations. The 2nd most popular length was 15 Year, with 238 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 764 $109,150,000 $142,866
    $1k-2k 31 $5,195,000 $167,581
    $2k-3k 28 $9,240,000 $330,000
    $3k-4k 10 $4,660,000 $466,000
    $5k+ 2 $810,000 $405,000

    Marquette Savings Bank's average total fees were $2,806, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 764 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 398 $57,940,000 $145,578
    2.5-3% 292 $54,250,000 $185,788
    4-5% 92 $8,720,000 $94,783
    <2.5% 57 $9,455,000 $165,877
    5-6% 21 $1,525,000 $72,619

    During 2021, Marquette Savings Bank's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 3-4%, with 398 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 335 $20,475,000 $61,119 $1,177 3.59%
    $100k-200k 332 $48,260,000 $145,361 $2,414 3.17%
    $200k-400k 154 $41,770,000 $271,234 $3,597 3.07%
    $400k-600k 28 $13,160,000 $470,000 $5,634 2.91%
    $600k-1MM 10 $7,140,000 $714,000 $2,375 3.01%
    $1MM+ 1 $1,085,000 $1,085,000 $8,658 3.13%

    2021 saw Marquette Savings Bank place emphasis on $100,000 or less loans with 335 originations, totaling $20,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 181 $14,795,000 $81,740 $1,629 3.58%
    $100k-150k 177 $33,375,000 $188,559 $2,816 3.13%
    $50k-75k 177 $20,125,000 $113,701 $2,101 3.28%
    $75k-100k 156 $20,330,000 $130,321 $2,128 3.28%
    $150k-250k 93 $22,535,000 $242,312 $3,020 3.03%
    $250k+ 44 $17,010,000 $386,591 $2,860 3.22%

    Marquette Savings Bank lent most frequently to those with incomes in the $50k or less range, with 181 originations. The second most popular income band? $100k-150k, with 177 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 258 $38,030,000 $147,403 $2,267 3.21%
    30-36% 213 $35,075,000 $164,671 $2,401 3.28%
    <20% 143 $19,835,000 $138,706 $1,987 3.17%
    36% 36 $4,670,000 $129,722 $2,083 3.39%
    39% 34 $6,130,000 $180,294 $2,311 3.45%
    37% 32 $3,670,000 $114,688 $1,899 3.51%
    38% 27 $5,815,000 $215,370 $2,936 3.25%
    42% 21 $2,575,000 $122,619 $1,676 3.41%
    40% 20 $3,090,000 $154,500 $1,930 3.49%
    41% 18 $3,290,000 $182,778 $2,279 3.44%
    43% 12 $1,710,000 $142,500 $2,730 3.72%
    44% 6 $1,150,000 $191,667 $3,102 3.04%
    50-60% 6 $1,090,000 $181,667 $3,294 4.10%
    47% 5 $1,195,000 $239,000 $4,058 2.85%
    46% 3 $755,000 $251,667 $2,144 3.58%
    45% 3 $445,000 $148,333 $2,816 3.33%
    48% 3 $1,225,000 $408,333 $4,102 2.79%

    Marquette Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 258 originations. The next most common DTI ratio? 30-36%, with 213 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 795 $123,025,000 $154,748 $2,279 3.28%
    Not provided 24 $2,850,000 $118,750 $1,901 3.17%
    Asian 12 $2,650,000 $220,833 $2,578 3.00%
    Not applicable 20 $2,140,000 $107,000 $0 4.40%
    Black 7 $1,085,000 $155,000 $2,235 3.75%
    American Indian 2 $140,000 $70,000 $378 4.00%

    Approval Rates

    Total approvals of all applications
    93.43%

    Marquette Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.95%

    Marquette Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 860 $131,890,000 $153,360

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    860 $131,890,000 $153,360

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 75 $6,115,000 $81,533 $1,036 3.35%
    40-60% 124 $15,970,000 $128,790 $1,689 3.12%
    60-80% 372 $62,970,000 $169,274 $2,520 3.32%
    80-100% 247 $45,005,000 $182,206 $2,950 3.33%
    Under 20% 42 $1,830,000 $43,571 $128 3.43%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Marquette Savings Bank 1075 Park Avenue Meadville, PA 16335 Full Service B&M $107,091
    Marquette Savings Bank 14 North Main St Albion, PA 16401 Full Service B&M $47,683
    Marquette Savings Bank 16272 Conneaut Lake Road Meadville, PA 16335 Full Service Retail $28,223
    Marquette Savings Bank 1775 East 38th Street Erie, PA 16510 Full Service B&M $63,965
    Marquette Savings Bank 209 Plum Street Edinboro, PA 16412 Full Service B&M $46,964
    Marquette Savings Bank 210 Water St. Conneaut Lake, PA 16316 Full Service B&M $73,174
    Marquette Savings Bank 2320 West 12th St Erie, PA 16505 Full Service B&M $79,182
    Marquette Savings Bank 3404 Liberty Street Erie, PA 16509 Full Service B&M $107,452
    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 $78,557
    Marquette Savings Bank 920 Peach Street Erie, PA 16501 Full Service B&M $266,121
    Marquette Savings Bank 953 South Main Street Meadville, PA 16335 Limited, Administrative $0

    For 2021, Marquette Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,955
    Net interest income $29,146
    Total noninterest income $3,879
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $831
    Trading account gains and fees $0
    Additional Noninterest Income $3,048
    Pre-tax net operating income $10,108
    Securities gains (or losses, -) $39
    Income before extraordinary items $8,612
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,612
    Minority interest net income $0
    Net income $8,612
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,578

    Marquette Savings Bank's gross interest income from loans was $33,955,000.
    Marquette Savings Bank's net interest income from loans was $29,146,000.
    Marquette Savings Bank's fee based income from loans was $831,000.
    Marquette Savings Bank's net income from loans was $8,612,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,809
    Provision for credit losses $461
    Total noninterest expense $22,456
    Salaries and employee benefits $11,174
    Premises and equipment expense $3,789
    Additional noninterest expense $7,493
    Applicable income taxes $1,535
    Net charge-offs $13
    Cash dividends $0

    Marquette Savings Bank's interest expense for loans was $4,809,000.
    Marquette Savings Bank's payroll and benefits expense were $11,174,000.
    Marquette Savings Bank's property, plant and equipment expenses $3,789,000.

    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 0.0%
    All other family 0.0%
    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 $983,919
    Deposits held in domestic offices $983,919
    Deposits by Individuals, partnerships, and corporations $945,527
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $37,782
    Deposits by Commercial banks and other depository institutions in U.S. $610
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $363,447
    Demand deposits $363,447
    Nontransaction accounts $620,472
    Money market deposit accounts (MMDAs) $230,642
    Other savings deposits (excluding MMDAs) $125,554
    Total time deposits $264,276
    Total time and savings deposits $620,472
    Noninterest-bearing deposits $160,092
    Interest-bearing deposits $823,827
    Retail deposits $948,880
    IRAs and Keogh plan accounts $91,053
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,172,608
    Cash & Balances due from depository institutions $74,851
    Interest-bearing balances $73,054
    Total securities $388,907
    Federal funds sold & reverse repurchase $0
    Net loans and leases $629,717
    Loan and leases loss allowance $3,288
    Trading account assets $0
    Bank premises and fixed assets $26,845
    Other real estate owned $66
    Goodwill and other intangibles $3,166
    All other assets $49,056

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,172,608
    Total Liabilities $990,638
    Total deposits $983,919
    Interest-bearing deposits $823,827
    Deposits held in domestic offices $983,919
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $6,719

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $629,717
    Loan and leases loss allowance $3,288
    Total loans and leases (domestic) $633,005
    All real estate loans $563,541
    Real estate loans in domestic offices $563,541
    Construction and development loans $13,606
    Residential 1-4 family construction $12,521
    Other construction, all land development and other land $1,085
    Loans secured by nonfarm nonresidential properties $74,288
    Nonfarm nonresidential secured by owner-occupied properties $61,017
    Commercial real estate & other non-farm, non-residential $13,271
    Multifamily residential real estate $6,516
    1-4 family residential loans $469,016
    Farmland loans $115
    Loans held in foreign offices $0
    Farm loans $370
    Commercial and industrial loans $67,201
    To non-U.S. addressees $0
    Loans to individuals $1,274
    Credit card loans $0
    Related Plans $591
    Consumer Auto Loans $0
    Other loans to individuals $683
    All other loans & leases $619
    Loans to foreign governments and official institutions $0
    Other loans $478
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $6,714
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $295
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Marquette Savings Bank had $629,717,000 of loans outstanding in 2021. $563,541,000 of loans were in real estate loans. $13,606,000 of loans were in development loans. $6,516,000 of loans were in multifamily mortgage loans. $469,016,000 of loans were in 1-4 family mortgage loans. $370,000 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 156 $31,430 $201,474
    Nonfarm, nonresidential loans - <$100k 44 $1,741 $39,568
    Nonfarm, nonresidential loans - $100-250k 56 $7,285 $130,089
    Nonfarm, nonresidential loans - $250k-1MM 56 $22,404 $400,071
    Commercial & Industrial, US addressed loans - <$1MM 322 $35,992 $111,776
    Commercial & Industrial, US addressed loans - <$100k 195 $5,624 $28,841
    Commercial & Industrial, US addressed loans - $100-250k 70 $8,243 $117,757
    Commercial & Industrial, US addressed loans - $250k-1MM 57 $22,125 $388,158
    Farmland loans - <$1MM 3 $115 $38,333
    Farmland loans - <$100k 3 $115 $38,333
    Agriculture operations loans - <$1MM 6 $370 $61,667
    Agriculture operations loans - <$100k 4 $109 $27,250
    Agriculture operations loans - $100-250k 1 $126 $126,000
    Agriculture operations loans - $250k-1MM 1 $135 $135,000