Fall River Five Cents Savings Bank Mortgage Rates, Fees & Info

Fall River, MA

LEI: 549300Q61S3IBOJITT02

Tax ID: 41-2178171

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Fall 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.

    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) 5.76% 4/28/24
    30 Year Conventional Purchase 5.99% 4/28/24
    30 Year Conventional Refi 5.98% 4/28/24
    30 Year Cash-out Refi 6.20% 4/28/24
    30 Year FHA Purchase 7.13% 4/28/24
    30 Year FHA Refi 7.30% 4/28/24
    30 Year VA Purchase 6.25% 4/28/24
    15 Year Conventional Purchase 4.69% 4/28/24
    15 Year Conventional Refi 5.61% 4/28/24
    15 Year Cash-out Refi 5.61% 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.

    Fall River Five Cents Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Fall River Five Cents Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,225

    Origination Dollar Volume (All Markets)

    $478,665,000

    Awards

    Fall River Five Cents Savings Bank 30 Year Conventional Loans silver Fall River Five Cents Savings Bank 30 Year Conventional Loans bronze Fall River Five Cents Savings Bank FHA Loans silver Fall River Five Cents Savings Bank 30 Year Conventional Loans silver
    Show all (4) awards

    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) 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%
    Fall River Five Cents Savings Bank's top markets include Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)

    • Similar Lenders

    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.

    Homestar Mortgage, Inc.
    Similarity Rank: 8
    Rhode Island Credit Union
    Similarity Rank: 15
    SOMERSET
    Similarity Rank: 21
    Charter Oak Federal Credit Union
    Similarity Rank: 42
    QUINCY CREDIT UNION
    Similarity Rank: 50
    HOMEFIELD
    Similarity Rank: 72
    Direct Federal Credit Union
    Similarity Rank: 115
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 129
    IC Federal Credit Union
    Similarity Rank: 144
    Piscataqua Savings Bank
    Similarity Rank: 200

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 885 $404,095,000 $456,605 $3,713 4.28%
    HELOC 288 $50,320,000 $174,722 n/a 4.04%
    FHA 51 $23,865,000 $467,941 $13,654 4.89%
    VA 1 $385,000 $385,000 $13,069 5.63%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 566 $290,080,000 $512,509 $5,458 4.46%
    Cash Out Refi 235 $89,835,000 $382,277 $3,495 3.87%
    Home Improvement 210 $39,570,000 $188,429 $654 4.25%
    Other 123 $22,735,000 $184,837 $1,128 4.42%
    Refi 91 $36,445,000 $400,495 $3,132 3.69%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 661 $322,135,000 $487,345 $4,967 4.25%
    20 Year 387 $86,665,000 $223,941 $494 4.27%
    15 Year 61 $10,065,000 $165,000 $1,505 3.86%
    30+ year 46 $37,760,000 $820,870 $6,812 3.95%
    10 Year 42 $3,440,000 $81,905 $338 4.58%
    Other 19 $17,305,000 $910,789 $3,639 5.05%
    5 Year 8 $290,000 $36,250 $6 4.34%
    1 Year 1 $1,005,000 $1,005,000 $0 3.75%

    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
    $<1k 688 $283,540,000 $412,122
    $1k-2k 61 $24,505,000 $401,721
    $2k-3k 54 $36,930,000 $683,889
    $5k+ 31 $17,835,000 $575,323
    $3k-4k 20 $10,950,000 $547,500
    $4k-5k 16 $7,480,000 $467,500

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 376 $162,490,000 $432,154
    4-5% 255 $99,775,000 $391,275
    2.5-3% 247 $99,025,000 $400,911
    5-6% 199 $73,265,000 $368,166
    6-7% 100 $31,660,000 $316,600
    <2.5% 26 $4,490,000 $172,692
    7-8% 19 $7,385,000 $388,684
    Over 8% 3 $575,000 $191,667

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 346 $101,370,000 $292,977 $4,272 4.49%
    $100,000 or less 227 $12,115,000 $53,370 $236 4.17%
    $600k-1MM 204 $151,940,000 $744,804 $5,684 3.97%
    $400k-600k 200 $97,220,000 $486,100 $5,970 4.37%
    $100k-200k 192 $27,190,000 $141,615 $2,283 4.22%
    $1MM+ 56 $88,830,000 $1,586,250 $6,844 3.79%

    2022 saw Fall River Five Cents Savings Bank place emphasis on $200k-400k loans with 346 originations, totaling $101,370,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 295 $128,315,000 $434,966 $4,395 4.21%
    $100k-150k 291 $89,955,000 $309,124 $4,847 4.36%
    $250k+ 193 $135,485,000 $701,995 $4,863 4.03%
    $75k-100k 167 $41,325,000 $247,455 $4,314 4.15%
    $50k-75k 158 $31,080,000 $196,709 $3,399 4.11%
    $50k or less 50 $5,080,000 $101,600 $1,948 4.29%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 217 $82,255,000 $379,055 $3,731 3.99%
    30-36% 196 $73,750,000 $376,276 $3,609 4.12%
    42% 92 $25,020,000 $271,957 $3,060 4.53%
    <20% 67 $23,315,000 $347,985 $3,193 4.18%
    44% 60 $24,590,000 $409,833 $5,513 4.05%
    43% 59 $23,015,000 $390,085 $4,245 4.04%
    41% 54 $20,430,000 $378,333 $4,519 4.36%
    40% 52 $17,240,000 $331,538 $4,044 4.22%
    38% 49 $19,255,000 $392,959 $3,761 4.16%
    49% 46 $16,820,000 $365,652 $5,502 4.75%
    37% 45 $20,235,000 $449,667 $4,381 4.10%
    39% 41 $15,345,000 $374,268 $3,873 4.15%
    36% 37 $14,955,000 $404,189 $3,292 4.48%
    45% 35 $14,685,000 $419,571 $4,802 4.20%
    46% 32 $10,830,000 $338,438 $4,515 3.99%
    47% 28 $9,470,000 $338,214 $5,571 4.25%
    48% 25 $10,075,000 $403,000 $5,143 4.38%
    50-60% 19 $9,715,000 $511,316 $15,127 5.01%
    >60% 1 $25,000 $25,000 $196 0.00%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 936 $335,460,000 $358,397 $4,199 4.28%
    Not provided 147 $66,275,000 $450,850 $4,739 3.78%
    Not applicable 54 $39,650,000 $734,259 $0 5.10%
    Asian 49 $24,085,000 $491,531 $4,724 4.23%
    Black 22 $5,300,000 $240,909 $5,009 4.62%
    Asian Indian 4 $4,250,000 $1,062,500 $5,702 3.25%
    American Indian 10 $3,080,000 $308,000 $4,635 3.87%
    Chinese 2 $480,000 $240,000 $1,782 3.75%
    Other Pacific Islander 1 $85,000 $85,000 $0 3.99%

    Approval Rates

    Total approvals of all applications
    89.66%

    Fall River Five Cents Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.00%

    Fall River Five Cents Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,225 $478,665,000 $390,747

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,225 $478,665,000 $390,747

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 188 $41,970,000 $223,245 $2,280 4.17%
    40-60% 164 $68,310,000 $416,524 $3,608 4.05%
    60-80% 355 $197,735,000 $557,000 $4,597 4.24%
    80-100% 262 $150,580,000 $574,733 $6,459 4.52%
    Over 100% 3 $1,195,000 $398,333 $17,814 5.79%
    Under 20% 253 $18,875,000 $74,605 $112 4.16%