Thomaston Savings Bank Mortgage Rates, Fees & Info

Thomaston, CT

LEI: 549300JBZ3MK7Z4FI764

Tax ID: 06-0561730

5 stars - Updated: 4/5/25 - out of 5 stars, based on 26 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Thomaston Savings Bank is a smaller bank specializing in Home Purchase loans. Thomaston Savings Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.)

    Thomaston 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. Thomaston 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 6.68% 4/5/25
    30 Year Conventional Refi 6.78% 4/5/25
    30 Year Cash-out Refi 7.10% 4/5/25
    30 Year FHA Purchase 6.85% 4/5/25
    30 Year FHA Refi 6.72% 4/5/25
    15 Year Conventional Purchase 5.98% 4/5/25
    15 Year Conventional Refi 6.57% 4/5/25
    15 Year Cash-out Refi 6.57% 4/5/25
    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.

    Thomaston Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Thomaston 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

    679

    Origination Dollar Volume (All Markets)

    $137,125,000

    Awards

    Thomaston Savings Bank 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    Thomaston Savings Bank's average 30 year fixed mortgage rate was 6.53%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.02%.

    Relative Fees (Closing Costs)

    Thomaston Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,263.

    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 $8,356.

    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
    Outside of Metro Areas 679 $137,125,000 $201,951 $2,676 7.21%
    Thomaston Savings Bank's top markets include

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 439 $105,495,000 $240,308 $2,501 6.67%
    HELOC 230 $28,760,000 $125,043 n/a 8.29%
    FHA 10 $2,870,000 $287,000 $9,672 6.19%

    For 2024, Thomaston Savings Bank's most frequently originated type of loan was Conventional, with 439 originations. Their 2nd most popular type was HELOC, with 230 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 242 $80,490,000 $332,603 $4,405 6.56%
    Other 210 $21,290,000 $101,381 $127 7.66%
    Refi 98 $17,320,000 $176,735 $1,113 7.54%
    Home Improvement 94 $10,910,000 $116,064 $333 7.55%
    Cash Out Refi 35 $7,115,000 $203,286 $2,713 7.18%

    For 2024, Thomaston Savings Bank's most frequently cited loan purpose was Home Purchase, with 242 originations. The 2nd most popular reason was Other, with 210 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 239 $37,735,000 $157,887 $1 8.29%
    30 Year 216 $56,330,000 $260,787 $4,263 6.53%
    20 Year 78 $10,200,000 $130,769 $146 6.97%
    30+ year 44 $22,770,000 $517,500 $4,598 6.86%
    15 Year 42 $5,640,000 $134,286 $1,043 6.62%
    10 Year 40 $3,140,000 $78,500 $0 6.33%
    5 Year 18 $690,000 $38,333 $0 5.88%
    1 Year 2 $620,000 $310,000 $0 10.63%

    For 2024, Thomaston Savings Bank's most frequently cited loan duration was Other, with 239 originations. The 2nd most popular length was 30 Year, with 216 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 272 $34,490,000 $126,801
    $1k-2k 121 $49,415,000 $408,388
    $2k-3k 7 $3,105,000 $443,571
    $3k-4k 4 $1,720,000 $430,000
    $4k-5k 3 $1,275,000 $425,000
    $5k+ 1 $285,000 $285,000

    Thomaston Savings Bank's average total fees were $4,263, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 272 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 279 $71,525,000 $256,362
    7-8% 163 $34,545,000 $211,933
    Over 8% 163 $20,155,000 $123,650
    5-6% 71 $10,555,000 $148,662
    4-5% 3 $345,000 $115,000

    During 2024, Thomaston Savings Bank's average interest rate for loans was 6.53%, while their most frequently originated rate bucket for loans was 6-7%, with 279 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 258 $13,670,000 $52,984 $165 7.39%
    $200k-400k 169 $46,025,000 $272,337 $4,450 7.03%
    $100k-200k 167 $23,925,000 $143,263 $2,163 7.26%
    $400k-600k 55 $26,625,000 $484,091 $5,341 7.03%
    $600k-1MM 27 $18,865,000 $698,704 $5,394 6.85%
    $1MM+ 3 $8,015,000 $2,671,667 $0 6.40%

    2024 saw Thomaston Savings Bank place emphasis on $100,000 or less loans with 258 originations, totaling $13,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 161 $30,055,000 $186,677 $2,686 7.16%
    $150k-250k 159 $37,085,000 $233,239 $2,705 7.41%
    $75k-100k 128 $17,890,000 $139,766 $2,444 6.96%
    $50k-75k 105 $11,295,000 $107,571 $2,273 7.20%
    $250k+ 60 $22,990,000 $383,167 $4,180 7.25%
    $50k or less 35 $3,215,000 $91,857 $2,310 7.48%

    Thomaston Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 161 originations. The second most popular income band? $150k-250k, with 159 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 121 $23,025,000 $190,289 $2,685 7.04%
    20-30% 116 $18,950,000 $163,362 $2,397 7.18%
    45% 37 $7,295,000 $197,162 $2,626 7.21%
    43% 36 $6,590,000 $183,056 $2,160 7.32%
    <20% 34 $7,600,000 $223,529 $3,122 7.02%
    42% 34 $5,680,000 $167,059 $2,838 7.37%
    44% 33 $6,695,000 $202,879 $2,482 7.50%
    46% 30 $6,590,000 $219,667 $2,634 7.34%
    40% 30 $5,540,000 $184,667 $3,167 7.51%
    47% 28 $3,220,000 $115,000 $920 7.54%
    37% 27 $5,145,000 $190,556 $2,691 7.09%
    41% 25 $6,625,000 $265,000 $3,545 7.04%
    36% 25 $4,355,000 $174,200 $3,068 7.19%
    38% 23 $3,995,000 $173,696 $2,681 7.21%
    39% 21 $4,315,000 $205,476 $3,024 7.11%
    48% 20 $4,400,000 $220,000 $3,420 7.19%
    49% 14 $2,680,000 $191,429 $2,352 6.98%
    50-60% 4 $1,060,000 $265,000 $4,874 7.81%

    Thomaston Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 121 originations. The next most common DTI ratio? 20-30%, with 116 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 539 $102,545,000 $190,250 $2,641 7.16%
    Not provided 87 $15,155,000 $174,195 $2,464 7.55%
    Not applicable 21 $13,365,000 $636,429 $0 7.23%
    Black 20 $3,190,000 $159,500 $2,826 7.19%
    Asian 9 $2,355,000 $261,667 $5,196 7.13%
    Other Pacific Islander 2 $340,000 $170,000 $3,016 6.38%
    Other Asian 1 $175,000 $175,000 $7,141 6.38%

    Approval Rates

    Total approvals of all applications
    84.41%

    Thomaston Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.37%

    Thomaston Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 679 $137,125,000 $201,951

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    679 $137,125,000 $201,951

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 176 $23,070,000 $131,080 $674 7.63%
    40-60% 63 $21,905,000 $347,698 $3,383 7.40%
    60-80% 134 $46,430,000 $346,493 $4,429 6.94%
    80-100% 106 $33,540,000 $316,415 $5,012 6.57%
    Over 100% 1 $1,005,000 $1,005,000 $0 6.42%
    Under 20% 199 $11,175,000 $56,156 $96 7.30%