The Bank Of Canton Mortgage Rates, Fees & InfoCanton, MA
Tax ID: 20-0935064
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewThe Bank Of Canton is a smaller bank specializing in loans. The Bank Of Canton has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, Providence, and Laconia among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)
The Bank Of Canton 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. The Bank Of Canton 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.16%||3/24/23|
|30 Year Conventional Refi||6.09%||3/24/23|
|30 Year Cash-out Refi||6.24%||3/24/23|
|15 Year Conventional Purchase||3.83%||3/24/23|
|15 Year Conventional Refi||5.67%||3/24/23|
|15 Year Cash-out Refi||5.67%||3/24/23|
|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.|
Origination Dollar Volume (All Markets)$148,110,000
The Bank Of Canton's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.43%.
Relative Fees (Closing Costs)
The Bank Of Canton's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,219.
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.
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|
|Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA)||219||$111,895,000||$510,936||$3,787||4.30%|
|WORCESTER, MA-CT (FHA|USDA|VA)||68||$23,840,000||$350,588||$3,884||4.40%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||11||$6,265,000||$569,545||$4,816||4.45%|
|PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)||18||$4,470,000||$248,333||$4,579||4.16%|
|Laconia, NH (FHA|USDA|VA)||1||$1,505,000||$1,505,000||$7,855||4.25%|
|SPRINGFIELD, MA (FHA|USDA|VA)||1||$135,000||$135,000||$3,006||3.13%|
Their top states include:
We use machine learning to identify the top lenders compared against The Bank of Canton based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, The Bank Of Canton's most frequently originated type of loan was Conventional, with 318 originations.
For 2022, The Bank Of Canton's most frequently cited loan purpose was Home Purchase, with 235 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.
For 2022, The Bank Of Canton's most frequently cited loan duration was 30 Year, with 228 originations. The 2nd most popular length was 1 Year, with 27 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
The Bank Of Canton's average total fees were $4,219, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 190 originations.
During 2022, The Bank Of Canton's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 3-4%, with 113 originations.
2022 saw The Bank Of Canton place emphasis on $200k-400k loans with 112 originations, totaling $33,010,000 in origination value.
The Bank Of Canton lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $150k-250k, with 65 originations.
Applicant Debt to Income Ratio
The Bank Of Canton lent most frequently to those with DTI ratios of 30-36%, with 69 originations. The next most common DTI ratio? 20-30%, with 66 originations.
Approval RatesTotal approvals of all applications
The Bank Of Canton has an average approval rate.
Pick RateApprovals leading to origination
The Bank Of Canton has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|TD BANK US HOLDING COMPANY||Conventional home mortgage||Applying for a mortgage or refinancing an existing mortgage||1||50.0%|
|TD BANK US HOLDING COMPANY||Conventional home mortgage||Closing on a mortgage||1||50.0%|