Liberty Bank Mortgage Rates, Fees & Info
Middletown, CTLEI: 549300KWXO8FUM7L0E14
Tax ID: 06-0452570
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Mortgage Data
Review & Overview
Liberty Bank is a smaller bank specializing in Home Purchase loans. Liberty 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: Allentown, Springfield, Boston, Providence, and Worcester among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Liberty 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. Liberty 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.61% | 4/5/25 |
| 30 Year Conventional Purchase | 6.56% | 4/5/25 |
| 30 Year Conventional Refi | 6.47% | 4/5/25 |
| 30 Year Cash-out Refi | 6.61% | 4/5/25 |
| 30 Year FHA Purchase | 7.05% | 4/5/25 |
| 30 Year VA Purchase | 6.49% | 4/5/25 |
| 15 Year Conventional Purchase | 6.18% | 4/5/25 |
| 15 Year Conventional Refi | 6.64% | 4/5/25 |
| 15 Year Cash-out Refi | 6.64% | 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. | ||
Liberty Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Liberty Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,468Origination Dollar Volume (All Markets)
$785,000,000Awards
Liberty Bank - 2024
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For 2024, less than of lenders were eligible for this award.
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Relative Rate
Liberty Bank's average 30 year fixed mortgage rate was
6.25%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.3%.
Relative Fees (Closing Costs)
Liberty Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,168.
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 | 2,390 | $724,120,000 | $302,979 | $3,099 | 6.35% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $33,505,000 | $33,505,000 | $0 | 6.85% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 49 | $10,915,000 | $222,755 | $3,282 | 6.53% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 12 | $9,460,000 | $788,333 | $5,173 | 6.10% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 7 | $2,615,000 | $373,571 | $3,877 | 6.08% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 4 | $2,020,000 | $505,000 | $3,644 | 6.21% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $3,323 | 6.16% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 6.75% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $9,523 | 6.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Liberty 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 2024, Liberty Bank's most frequently originated type of loan was HELOC, with 1,360 originations. Their 2nd most popular type was Conventional, with 1,100 originations.
Loan Reason
For 2024, Liberty Bank's most frequently cited loan purpose was Home Purchase, with 845 originations. The 2nd most popular reason was Home Improvement, with 704 originations.
Loan Duration/Length
For 2024, Liberty Bank's most frequently cited loan duration was 30 Year, with 2,107 originations. The 2nd most popular length was 15 Year, with 98 originations.
Origination Fees/Closing Costs
Liberty Bank's average total fees were $4,168, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 854 originations.
Interest Rates
During 2024, Liberty Bank's average interest rate for loans was 6.25%, while their most frequently originated rate bucket for loans was 5-6%, with 1,488 originations.
Loan Sizing
2024 saw Liberty Bank place emphasis on $100,000 or less loans with 757 originations, totaling $44,765,000 in origination value.
Applicant Income
Liberty Bank lent most frequently to those with incomes in the $100k-150k range, with 640 originations. The second most popular income band? $150k-250k, with 613 originations.
Applicant Debt to Income Ratio
Liberty Bank lent most frequently to those with DTI ratios of 20-30%, with 497 originations. The next most common DTI ratio? 30-36%, with 396 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.09%
Liberty Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.02%
Liberty Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,468 | $785,000,000 | $318,071 |