Fall River Five Cents Savings Bank Mortgage Rates, Fees & InfoFall River, MA
Tax ID: 41-2178171
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewFall River Five Cents Savings Bank is a smaller bank specializing in Home Purchase loans. Fall River Five Cents 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: Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)
Fall River Five Cents 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. Fall River Five Cents Savings Bank is typically an average 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||5.76%||11/30/23|
|30 Year Conventional Purchase||5.99%||11/30/23|
|30 Year Conventional Refi||5.98%||11/30/23|
|30 Year Cash-out Refi||6.20%||11/30/23|
|30 Year FHA Purchase||7.13%||11/30/23|
|30 Year FHA Refi||7.30%||11/30/23|
|30 Year VA Purchase||6.25%||11/30/23|
|15 Year Conventional Purchase||4.69%||11/30/23|
|15 Year Conventional Refi||5.61%||11/30/23|
|15 Year Cash-out Refi||5.61%||11/30/23|
|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.|
Fall River Five Cents Savings Bank Mortgage Calculator
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This is not an official calculator from Fall River Five Cents Savings 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.
Origination Dollar Volume (All Markets)$478,665,000
Fall River Five Cents Savings Bank - 2022
Fall River Five Cents Savings Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Fall River Five Cents Savings Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.51%.
Relative Fees (Closing Costs)
Fall River Five Cents Savings Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,967.
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.
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)||417||$210,795,000||$505,504||$5,175||4.14%|
|PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)||621||$178,895,000||$288,076||$3,502||4.32%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||120||$62,880,000||$524,000||$4,040||4.08%|
|WORCESTER, MA-CT (FHA|USDA|VA)||35||$12,435,000||$355,286||$4,606||4.48%|
|Vineyard Haven, MA (FHA|USDA|VA)||5||$4,765,000||$953,000||$4,579||4.83%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||2||$2,140,000||$1,070,000||$8,237||4.63%|
|SPRINGFIELD, MA (FHA|USDA|VA)||6||$1,460,000||$243,333||$7,328||4.21%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||3||$1,175,000||$391,667||$7,444||4.96%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||2||$1,040,000||$520,000||$8,912||4.94%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||3||$865,000||$288,333||$4,381||4.71%|
|BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)||1||$365,000||$365,000||$2,998||3.38%|
|Augusta-Waterville, ME (FHA|USDA|VA)||2||$360,000||$180,000||$3,277||4.69%|
|HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)||1||$265,000||$265,000||$4,930||6.88%|
|NEW HAVEN-MILFORD, CT (FHA|USDA|VA)||1||$205,000||$205,000||$3,141||4.50%|
|JACKSONVILLE, FL (FHA|USDA|VA)||1||$205,000||$205,000||$4,664||4.75%|
|PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA)||1||$195,000||$195,000||$7,065||6.63%|
|PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA)||1||$195,000||$195,000||$2,843||5.38%|
|Lebanon, NH-VT (FHA|USDA|VA)||1||$165,000||$165,000||$2,184||5.13%|
|MANCHESTER-NASHUA, NH (FHA|USDA|VA)||1||$155,000||$155,000||$2,309||4.00%|
|Berlin, NH (FHA|USDA|VA)||1||$105,000||$105,000||$3,028||5.38%|
We use machine learning to identify the top lenders compared against Fall River Five Cents 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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Fall River Five Cents Savings Bank's most frequently originated type of loan was Conventional, with 885 originations. Their 2nd most popular type was HELOC, with 288 originations.
For 2022, Fall River Five Cents Savings Bank's most frequently cited loan purpose was Home Purchase, with 566 originations. The 2nd most popular reason was Cash Out Refi, with 235 originations.
For 2022, Fall River Five Cents Savings Bank's most frequently cited loan duration was 30 Year, with 661 originations. The 2nd most popular length was 20 Year, with 387 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Fall River Five Cents Savings Bank's average total fees were $4,967, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 688 originations.
During 2022, Fall River Five Cents Savings Bank's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 3-4%, with 376 originations.
2022 saw Fall River Five Cents Savings Bank place emphasis on $200k-400k loans with 346 originations, totaling $101,370,000 in origination value.
Fall River Five Cents Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 295 originations. The second most popular income band? $100k-150k, with 291 originations.
Applicant Debt to Income Ratio
Fall River Five Cents Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 217 originations. The next most common DTI ratio? 30-36%, with 196 originations.
Approval RatesTotal approvals of all applications
Fall River Five Cents Savings Bank has an average approval rate.
Pick RateApprovals leading to origination
Fall River Five Cents Savings Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|