Dedham Institution For Savings Mortgage Rates, Fees & Info
Dedham, MALEI: 549300RS5LTZ0JDZYI59
Tax ID: 04-1238700
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Mortgage Data
Review & Overview
Dedham Institution For Savings is a smaller mortgage company specializing in Home Purchase loans. Dedham Institution For Savings has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, Worcester, and Bridgeport among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Dedham Institution For Savings 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. Dedham Institution For Savings 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 relatively high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.97% | 12/2/24 |
| 30 Year Conventional Refi | 6.13% | 12/2/24 |
| 30 Year Cash-out Refi | 6.21% | 12/2/24 |
| 15 Year Conventional Purchase | 5.81% | 12/2/24 |
| 15 Year Conventional Refi | 5.46% | 12/2/24 |
| 15 Year Cash-out Refi | 5.46% | 12/2/24 |
| 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. | ||
Dedham Institution For Savings Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
366Origination Dollar Volume (All Markets)
$301,540,000Awards
Dedham Institution for Savings - 2023
Dedham Institution for Savings is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Dedham Institution For Savings's average 30 year fixed mortgage rate was
6.2%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.28%.
Relative Fees (Closing Costs)
Dedham Institution For Savings's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,482.
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 $9,089.
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) | 319 | $281,135,000 | $881,301 | $3,806 | 6.58% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 17 | $7,115,000 | $418,529 | $2,976 | 6.50% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 14 | $6,200,000 | $442,857 | $3,184 | 6.10% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 13 | $4,855,000 | $373,462 | $3,069 | 6.38% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $0 | 6.67% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $3,350 | 5.75% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,033 | 6.13% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Dedham Institution for Savings 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 366 | $301,540,000 | $823,880 | $3,701 | 6.55% |
For 2023, Dedham Institution For Savings's most frequently originated type of loan was Conventional, with 366 originations.
Loan Reason
For 2023, Dedham Institution For Savings's most frequently cited loan purpose was Home Purchase, with 258 originations. The 2nd most popular reason was Home Improvement, with 48 originations.
Loan Duration/Length
For 2023, Dedham Institution For Savings's most frequently cited loan duration was 30 Year, with 221 originations. The 2nd most popular length was Other, with 42 originations.
Origination Fees/Closing Costs
Dedham Institution For Savings's average total fees were $4,482, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 237 originations.
Interest Rates
During 2023, Dedham Institution For Savings's average interest rate for loans was 6.20%, while their most frequently originated rate bucket for loans was 6-7%, with 155 originations.
Loan Sizing
2023 saw Dedham Institution For Savings place emphasis on $600k-1MM loans with 82 originations, totaling $63,050,000 in origination value.
Applicant Income
Dedham Institution For Savings lent most frequently to those with incomes in the $250k+ range, with 104 originations. The second most popular income band? $150k-250k, with 84 originations.
Applicant Debt to Income Ratio
Dedham Institution For Savings lent most frequently to those with DTI ratios of 20-30%, with 66 originations. The next most common DTI ratio? 30-36%, with 60 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.36%
Dedham Institution For Savings has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination84.43%
Dedham Institution For Savings has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 366 | $301,540,000 | $823,880 |