Thomaston Savings Bank Mortgage Rates, Fees & Info
Thomaston, CTLEI: 549300JBZ3MK7Z4FI764
Tax ID: 06-0561730
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Thomaston Savings Bank is a smaller bank specializing in 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.) Their top markets by origination volume include: Hartford, New Haven, Torrington, Bridgeport, and Norwich among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Thomaston 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.43% | 3/23/23 |
30 Year Conventional Refi | 6.55% | 3/23/23 |
30 Year Cash-out Refi | 6.63% | 3/23/23 |
30 Year FHA Purchase | 7.04% | 3/23/23 |
15 Year Conventional Purchase | 5.66% | 3/23/23 |
15 Year Conventional Refi | 5.61% | 3/23/23 |
15 Year Cash-out Refi | 5.61% | 3/23/23 |
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. |
Originations
565Origination Dollar Volume (All Markets)
$176,625,000Relative Rate
Thomaston Savings Bank's average 30 year fixed mortgage rate was
4.29%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.47%.
Relative Fees (Closing Costs)
Thomaston Savings Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,614.
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.
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 |
---|---|---|---|---|---|
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 172 | $58,660,000 | $341,047 | $3,450 | 4.34% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 132 | $53,700,000 | $406,818 | $3,390 | 4.31% |
Torrington, CT (FHA|USDA|VA) | 233 | $53,365,000 | $229,034 | $3,091 | 4.33% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 25 | $9,355,000 | $374,200 | $4,348 | 4.13% |
NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 3 | $1,545,000 | $515,000 | $4,129 | 3.79% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Thomaston Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 348
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 559 | $174,935,000 | $312,943 | $3,240 | 4.31% |
FHA | 6 | $1,690,000 | $281,667 | $9,252 | 4.81% |
For 2022, Thomaston Savings Bank's most frequently originated type of loan was Conventional, with 559 originations. Their 2nd most popular type was FHA, with 6 originations.
Loan Reason
For 2022, Thomaston Savings Bank's most frequently cited loan purpose was Home Purchase, with 327 originations. The 2nd most popular reason was Refi, with 137 originations.
Loan Duration/Length
For 2022, Thomaston Savings Bank's most frequently cited loan duration was 30 Year, with 389 originations. The 2nd most popular length was 30+ year, with 50 originations.
Origination Fees/Closing Costs
Thomaston Savings Bank's average total fees were $3,614, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 340 originations.
Interest Rates
During 2022, Thomaston Savings Bank's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 4-5%, with 231 originations.
Loan Sizing
2022 saw Thomaston Savings Bank place emphasis on $200k-400k loans with 202 originations, totaling $55,290,000 in origination value.
Applicant Income
Thomaston Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 129 originations. The second most popular income band? $50k-75k, with 108 originations.
Applicant Debt to Income Ratio
Thomaston Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 119 originations. The next most common DTI ratio? 30-36%, with 98 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.68%
Thomaston Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.43%
Thomaston Savings Bank has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 565 | $176,625,000 | $312,611 |