Millbury National Bank Mortgage Rates, Fees & Info

Millbury, MA

LEI: 549300R4DYQY768S1R28

Tax ID: 04-1621330

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Millbury National Bank is a smaller bank specializing in Home Purchase and Refi loans. Millbury National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Providence, and Keene among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Millbury National Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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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    Originations

    37

    Origination Dollar Volume (All Markets)

    $12,595,000

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 30 $10,800,000 $360,000 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $1,025,000 $341,667 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $640,000 $320,000 $0 0.00%
    Keene, NH (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
    Millbury National Bank's top markets include Worcester, Boston, Providence, and Keene among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (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 37 $12,595,000 $340,405 $0 0.00%

    For 2023, Millbury National Bank's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 23 $7,195,000 $312,826 $0 0.00%
    Refi 8 $3,690,000 $461,250 $0 0.00%
    Home Improvement 3 $835,000 $278,333 $0 0.00%
    Cash Out Refi 3 $875,000 $291,667 $0 0.00%

    For 2023, Millbury National Bank's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 37 $12,595,000 $340,405 $0 0.00%

    For 2023, Millbury National Bank's most frequently cited loan duration was Other, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 15 $4,495,000 $299,667 $0 0.00%
    $400k-600k 8 $3,720,000 $465,000 $0 0.00%
    $100,000 or less 6 $260,000 $43,333 $0 0.00%
    $100k-200k 4 $560,000 $140,000 $0 0.00%
    $600k-1MM 3 $2,055,000 $685,000 $0 0.00%
    $1MM+ 1 $1,505,000 $1,505,000 $0 0.00%

    2023 saw Millbury National Bank place emphasis on $200k-400k loans with 15 originations, totaling $4,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $2,905,000 $322,778 $0 0.00%
    $150k-250k 5 $2,135,000 $427,000 $0 0.00%
    $75k-100k 5 $1,305,000 $261,000 $0 0.00%
    $250k+ 4 $1,260,000 $315,000 $0 0.00%
    $50k-75k 4 $610,000 $152,500 $0 0.00%
    $50k or less 1 $175,000 $175,000 $0 0.00%

    Millbury National Bank lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $150k-250k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 37 $12,595,000 $340,405 $0 0.00%

    Millbury National Bank lent most frequently to those with DTI ratios of Exempt%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 15 $4,795,000 $319,667 $0 0.00%
    Not applicable 6 $3,520,000 $586,667 $0 0.00%
    White 13 $3,465,000 $266,538 $0 0.00%
    Asian 2 $510,000 $255,000 $0 0.00%
    Black 1 $305,000 $305,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.21%

    Millbury National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    35.14%

    Millbury National Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 37 $12,595,000 $340,405

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    37 $12,595,000 $340,405