Bangor Savings Bank Mortgage Rates, Fees & Info
Bangor, MELEI: 549300JEBULFT3BSU682
Tax ID: 01-0024610
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Mortgage Data
Review & Overview
Bangor Savings Bank is a small bank specializing in Home Purchase loans. Bangor 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Portland, Boston, Bangor, Augusta, and Manchester among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)Bangor 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. Bangor 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/28/24 |
| 30 Year Conventional Purchase | 6.19% | 4/28/24 |
| 30 Year Conventional Refi | 6.31% | 4/28/24 |
| 30 Year Cash-out Refi | 6.51% | 4/28/24 |
| 30 Year FHA Purchase | 6.80% | 4/28/24 |
| 30 Year VA Purchase | 5.86% | 4/28/24 |
| 30 Year VA Refi | 6.36% | 4/28/24 |
| 30 Year USDA Purchase | 5.99% | 4/28/24 |
| 15 Year Conventional Purchase | 5.89% | 4/28/24 |
| 15 Year Conventional Refi | 5.84% | 4/28/24 |
| 15 Year Cash-out Refi | 5.84% | 4/28/24 |
| 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. | ||
Bangor Savings Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,951Origination Dollar Volume (All Markets)
$1,375,715,000Awards
Bangor Savings Bank - 2022
Bangor Savings Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1,499 | $463,655,000 | $309,310 | $5,162 | 4.53% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 603 | $319,735,000 | $530,240 | $5,089 | 4.18% |
| Outside of Metro Areas | 1,252 | $217,200,000 | $173,482 | $4,418 | 4.66% |
| BANGOR, ME (FHA|USDA|VA) | 811 | $127,565,000 | $157,293 | $3,923 | 4.60% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 251 | $50,095,000 | $199,582 | $4,350 | 4.63% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 81 | $46,035,000 | $568,333 | $4,035 | 4.38% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 72 | $40,230,000 | $558,750 | $5,184 | 4.28% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 175 | $32,435,000 | $185,343 | $4,156 | 4.68% |
| Concord, NH (FHA|USDA|VA) | 40 | $9,940,000 | $248,500 | $3,610 | 4.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 17 | $9,025,000 | $530,882 | $5,690 | 4.50% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $9,005,000 | $9,005,000 | $0 | 5.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 10 | $7,510,000 | $751,000 | $4,073 | 4.05% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $5,185,000 | $471,364 | $6,889 | 4.59% |
| Lebanon, NH-VT (FHA|USDA|VA) | 18 | $4,910,000 | $272,778 | $4,833 | 4.56% |
| Laconia, NH (FHA|USDA|VA) | 16 | $4,410,000 | $275,625 | $3,478 | 3.99% |
| Berlin, NH (FHA|USDA|VA) | 25 | $3,855,000 | $154,200 | $3,805 | 4.97% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 5 | $2,205,000 | $441,000 | $4,570 | 3.63% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 6 | $2,180,000 | $363,333 | $6,609 | 4.77% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,825,000 | $1,825,000 | $11,768 | 4.13% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,740,000 | $435,000 | $3,908 | 3.94% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $1,685,000 | $1,685,000 | $18,370 | 4.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,660,000 | $276,667 | $4,019 | 4.54% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 7 | $1,285,000 | $183,571 | $4,077 | 5.05% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $1,275,000 | $1,275,000 | $17,685 | 4.63% |
| PITTSFIELD, MA (FHA|USDA|VA) | 2 | $1,250,000 | $625,000 | $4,266 | 3.81% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $5,794 | 4.25% |
| Bennington, VT (FHA|USDA|VA) | 5 | $1,125,000 | $225,000 | $4,906 | 5.13% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $6,254 | 4.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $4,763 | 4.72% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $4,826 | 3.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $4,720 | 4.94% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $3,862 | 3.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,644 | 4.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,513 | 5.94% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,223 | 5.06% |
| Barre, VT (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $20,336 | 4.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 4.13% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,558 | 5.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 2.99% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 3.75% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,273 | 5.50% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.13% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bangor Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2022, Bangor Savings Bank's most frequently originated type of loan was HELOC, with 2,504 originations. Their 2nd most popular type was Conventional, with 2,235 originations.
Loan Reason
For 2022, Bangor Savings Bank's most frequently cited loan purpose was Home Purchase, with 2,197 originations. The 2nd most popular reason was Home Improvement, with 1,073 originations.
Loan Duration/Length
For 2022, Bangor Savings Bank's most frequently cited loan duration was Other, with 2,539 originations. The 2nd most popular length was 30 Year, with 1,855 originations.
Origination Fees/Closing Costs
Bangor Savings Bank's average total fees were $4,641, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,676 originations.
Interest Rates
During 2022, Bangor Savings Bank's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 4-5%, with 1,508 originations.
Loan Sizing
2022 saw Bangor Savings Bank place emphasis on $200k-400k loans with 1,349 originations, totaling $380,885,000 in origination value.
Applicant Income
Bangor Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 1,030 originations. The second most popular income band? $150k-250k, with 908 originations.
Applicant Debt to Income Ratio
Bangor Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 1,193 originations. The next most common DTI ratio? 30-36%, with 885 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.46%
Bangor Savings Bank has a below average approval rate.
Pick Rate
Approvals leading to origination84.99%
Bangor Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,951 | $1,375,715,000 | $277,866 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4,951 | $1,375,715,000 | $277,866 |