Unibank For Savings Mortgage Rates, Fees & Info

Whitinsville, MA

LEI: 549300SIZ5KBISEZE503

Tax ID: 04-1927940

5 stars - Updated: 12/16/24 - out of 5 stars, based on 21 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Unibank For Savings is a smaller bank specializing in Home Purchase loans. Unibank For Savings has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Providence, Barnstable Town, and Portland among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Unibank For Savings 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. Unibank 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.64% 12/16/24
    30 Year Conventional Purchase 5.96% 12/16/24
    30 Year Conventional Refi 6.26% 12/16/24
    30 Year Cash-out Refi 5.98% 12/16/24
    15 Year Conventional Purchase 5.96% 12/16/24
    15 Year Conventional Refi 5.57% 12/16/24
    15 Year Cash-out Refi 5.57% 12/16/24
    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.

    Unibank For Savings Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Unibank For Savings. 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

    446

    Origination Dollar Volume (All Markets)

    $131,170,000
    Show all (5) awards

    Relative Rate

    Unibank For Savings's average 30 year fixed mortgage rate was 6.08%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.4%.

    Relative Fees (Closing Costs)

    Unibank For Savings's average total fees/closing costs for a 30 year fixed rate mortgage were $3,667.

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 300 $74,430,000 $248,100 $2,025 6.84%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 72 $38,710,000 $537,639 $3,197 6.61%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 25 $5,105,000 $204,200 $1,917 6.83%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 13 $4,905,000 $377,308 $2,752 6.81%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 23 $3,175,000 $138,043 $3,758 6.97%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $1,655,000 $1,655,000 $7,791 6.25%
    Outside of Metro Areas 3 $845,000 $281,667 $3,541 5.71%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $705,000 $705,000 $5,833 6.75%
    Laconia, NH (FHA|USDA|VA) 1 $605,000 $605,000 $3,233 5.50%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $490,000 $245,000 $2,666 6.00%
    Concord, NH (FHA|USDA|VA) 2 $240,000 $120,000 $0 7.49%
    Berlin, NH (FHA|USDA|VA) 1 $185,000 $185,000 $3,848 7.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.74%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.50%
    Unibank For Savings's top markets include Worcester, Boston, Providence, Barnstable Town, and Portland among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Maine (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 UniBank for Savings based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    OCEAN STATE CREDIT UNION
    Similarity Rank: 45
    SOMERSET
    Similarity Rank: 48
    Charter Oak Federal Credit Union
    Similarity Rank: 56
    HOMEFIELD
    Similarity Rank: 75
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 135
    GREYLOCK
    Similarity Rank: 160
    Country Bank for Savings
    Similarity Rank: 165
    Piscataqua Savings Bank
    Similarity Rank: 177
    Sharon & Crescent United Credit Union
    Similarity Rank: 180

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 335 $108,055,000 $322,552 $2,270 6.41%
    HELOC 111 $23,115,000 $208,243 n/a 7.95%

    For 2023, Unibank For Savings's most frequently originated type of loan was Conventional, with 335 originations. Their 2nd most popular type was HELOC, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 209 $78,945,000 $377,727 $3,544 6.43%
    Home Improvement 110 $21,540,000 $195,818 $250 7.25%
    Cash Out Refi 66 $18,580,000 $281,515 $2,263 6.93%
    Other 44 $9,030,000 $205,227 $528 7.29%
    Refi 17 $3,075,000 $180,882 $1,277 6.58%

    For 2023, Unibank For Savings's most frequently cited loan purpose was Home Purchase, with 209 originations. The 2nd most popular reason was Home Improvement, with 110 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 176 $81,630,000 $463,807 $3,667 6.08%
    20 Year 158 $28,740,000 $181,899 $0 7.71%
    Other 35 $5,015,000 $143,286 $0 6.75%
    15 Year 29 $4,815,000 $166,034 $782 6.62%
    10 Year 27 $2,385,000 $88,333 $7 6.59%
    5 Year 21 $8,585,000 $408,810 $0 6.48%

    For 2023, Unibank For Savings's most frequently cited loan duration was 30 Year, with 176 originations. The 2nd most popular length was 20 Year, with 158 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 305 $89,895,000 $294,738
    $5k+ 2 $1,110,000 $555,000
    $1k-2k 1 $145,000 $145,000
    $2k-3k 1 $255,000 $255,000
    $3k-4k 1 $435,000 $435,000

    Unibank For Savings's average total fees were $3,667, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 305 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 155 $35,555,000 $229,387
    5-6% 123 $50,175,000 $407,927
    7-8% 118 $33,650,000 $285,169
    Over 8% 46 $8,680,000 $188,696
    4-5% 4 $3,110,000 $777,500

    During 2023, Unibank For Savings's average interest rate for loans was 6.08%, while their most frequently originated rate bucket for loans was 6-7%, with 155 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 130 $7,030,000 $54,077 $35 7.15%
    $200k-400k 121 $34,305,000 $283,512 $2,611 6.59%
    $100k-200k 85 $11,595,000 $136,412 $1,233 7.09%
    $400k-600k 66 $31,430,000 $476,212 $3,724 6.38%
    $600k-1MM 34 $25,090,000 $737,941 $4,333 6.33%
    $1MM+ 10 $21,720,000 $2,172,000 $6,499 6.43%

    2023 saw Unibank For Savings place emphasis on $100,000 or less loans with 130 originations, totaling $7,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 124 $36,480,000 $294,194 $2,520 6.67%
    $100k-150k 109 $22,855,000 $209,679 $1,974 6.82%
    $250k+ 90 $46,730,000 $519,222 $2,857 6.89%
    $75k-100k 52 $8,810,000 $169,423 $2,273 6.72%
    $50k-75k 50 $6,670,000 $133,400 $1,490 6.92%
    $50k or less 18 $1,060,000 $58,889 $326 6.90%

    Unibank For Savings lent most frequently to those with incomes in the $150k-250k range, with 124 originations. The second most popular income band? $100k-150k, with 109 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 111 $27,505,000 $247,793 $1,910 6.97%
    30-36% 99 $23,685,000 $239,242 $2,066 6.72%
    <20% 55 $14,255,000 $259,182 $1,569 6.89%
    42% 41 $14,725,000 $359,146 $2,833 6.62%
    38% 25 $6,995,000 $279,800 $2,380 6.77%
    41% 22 $6,640,000 $301,818 $2,516 6.34%
    36% 22 $8,050,000 $365,909 $2,638 6.63%
    40% 22 $8,840,000 $401,818 $3,062 6.63%
    39% 18 $4,550,000 $252,778 $2,868 7.21%
    37% 16 $4,830,000 $301,875 $2,617 6.66%
    43% 5 $595,000 $119,000 $0 7.59%
    >60% 2 $190,000 $95,000 $0 6.87%
    46% 1 $545,000 $545,000 $10,353 5.88%
    47% 1 $235,000 $235,000 $2,983 5.88%
    48% 1 $435,000 $435,000 $6,292 7.38%
    49% 1 $275,000 $275,000 $2,731 5.88%
    44% 1 $255,000 $255,000 $4,703 7.63%

    Unibank For Savings lent most frequently to those with DTI ratios of 20-30%, with 111 originations. The next most common DTI ratio? 30-36%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 379 $99,125,000 $261,544 $2,294 6.79%
    Not provided 37 $10,895,000 $294,459 $1,097 7.09%
    Not applicable 3 $8,565,000 $2,855,000 $0 6.61%
    Asian 11 $8,195,000 $745,000 $3,935 5.99%
    Black 13 $3,915,000 $301,154 $2,039 6.82%
    American Indian 2 $300,000 $150,000 $0 7.37%
    Filipino 1 $175,000 $175,000 $0 6.74%

    Approval Rates

    Total approvals of all applications
    84.43%

    Unibank For Savings has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.91%

    Unibank For Savings has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 47 $6,145,000 $130,745
    NA 399 $125,025,000 $313,346

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    446 $131,170,000 $294,103

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 71 $13,765,000 $193,873 $1,533 7.08%
    40-60% 72 $25,020,000 $347,500 $2,737 6.69%
    60-80% 99 $46,795,000 $472,677 $3,494 6.45%
    80-100% 71 $36,355,000 $512,042 $4,080 6.30%
    Under 20% 133 $9,235,000 $69,436 $30 7.22%