Mutualone Bank Mortgage Rates, Fees & Info

Framingham, MA

LEI: 549300L1RVMMHUVKTQ94

Tax ID: 04-1339820

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Mortgage Data

Review & Overview

Mutualone Bank is a smaller bank specializing in Home Purchase loans. Mutualone Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, Miami, and Portland among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mutualone Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

86

Origination Dollar Volume (All Markets)

$133,780,000

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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 63 $110,245,000 $1,749,921 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $7,210,000 $1,802,500 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 9 $5,365,000 $596,111 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $3,460,000 $1,730,000 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $2,205,000 $2,205,000 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $1,610,000 $805,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $1,485,000 $1,485,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Mutualone Bank's top markets include Boston, Barnstable Town, Worcester, Miami, and Portland among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $133,780,000 $1,555,581 $0 0.00%

    For 2022, Mutualone Bank's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $116,705,000 $1,978,051 $0 0.00%
    Refi 12 $11,300,000 $941,667 $0 0.00%
    Cash Out Refi 10 $3,820,000 $382,000 $0 0.00%
    Home Improvement 5 $1,955,000 $391,000 $0 0.00%

    For 2022, Mutualone Bank's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 86 $133,780,000 $1,555,581 $0 0.00%

    For 2022, Mutualone Bank's most frequently cited loan duration was Other, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 34 $111,040,000 $3,265,882 $0 0.00%
    $400k-600k 18 $8,570,000 $476,111 $0 0.00%
    $200k-400k 13 $4,025,000 $309,615 $0 0.00%
    $600k-1MM 12 $9,090,000 $757,500 $0 0.00%
    $100k-200k 6 $910,000 $151,667 $0 0.00%
    $100,000 or less 3 $145,000 $48,333 $0 0.00%

    2022 saw Mutualone Bank place emphasis on $1MM+ loans with 34 originations, totaling $111,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 15 $8,895,000 $593,000 $0 0.00%
    $250k+ 13 $13,685,000 $1,052,692 $0 0.00%
    $50k-75k 4 $810,000 $202,500 $0 0.00%
    $100k-150k 3 $525,000 $175,000 $0 0.00%
    $50k or less 2 $520,000 $260,000 $0 0.00%

    Mutualone Bank lent most frequently to those with incomes in the $150k-250k range, with 15 originations. The second most popular income band? $250k+, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 86 $133,780,000 $1,555,581 $0 0.00%

    Mutualone Bank lent most frequently to those with DTI ratios of Exempt%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 49 $109,345,000 $2,231,531 $0 0.00%
    White 29 $20,715,000 $714,310 $0 0.00%
    Not provided 6 $2,240,000 $373,333 $0 0.00%
    Black 1 $1,025,000 $1,025,000 $0 0.00%
    Asian 1 $455,000 $455,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.59%

    Mutualone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.02%

    Mutualone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 86 $133,780,000 $1,555,581

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    86 $133,780,000 $1,555,581