Unibank For Savings Mortgage Rates, Fees & Info

Whitinsville, MA

LEI: 549300SIZ5KBISEZE503

Tax ID: 04-1927940

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
  • Complaints
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Unibank For Savings is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Unibank For Savings has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Barnstable Town, Providence, and Portland among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Unibank 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. 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 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.

    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% 11/20/24
    30 Year Conventional Purchase 5.96% 11/20/24
    30 Year Conventional Refi 6.26% 11/20/24
    30 Year Cash-out Refi 5.98% 11/20/24
    15 Year Conventional Purchase 5.96% 11/20/24
    15 Year Conventional Refi 5.57% 11/20/24
    15 Year Cash-out Refi 5.57% 11/20/24
    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

    493

    Origination Dollar Volume (All Markets)

    $143,855,000

    Employee count

    263 Show all (9) 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
    WORCESTER, MA-CT (FHA|USDA|VA) 346 $79,130,000 $228,699 $2,044 4.10%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 92 $45,580,000 $495,435 $2,948 3.87%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 21 $8,925,000 $425,000 $2,892 3.96%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 17 $4,855,000 $285,588 $2,330 3.55%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $1,525,000 $508,333 $3,284 3.83%
    SPRINGFIELD, MA (FHA|USDA|VA) 5 $1,275,000 $255,000 $2,817 3.95%
    Outside of Metro Areas 2 $650,000 $325,000 $3,062 3.31%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $530,000 $265,000 $2,824 4.81%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $455,000 $455,000 $3,396 4.75%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $3,194 3.25%
    Laconia, NH (FHA|USDA|VA) 1 $215,000 $215,000 $2,351 3.88%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $185,000 $185,000 $3,046 3.88%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $185,000 $185,000 $2,617 3.25%
    Unibank For Savings's top markets include Worcester, Boston, Barnstable Town, Providence, 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.

    Westport Federal Credit Union
    Similarity Rank: 23
    Notre Dame Community Federal Credit Union
    Similarity Rank: 38
    PAWTUCKET
    Similarity Rank: 60
    Bank of Easton
    Similarity Rank: 66
    Charter Oak Federal Credit Union
    Similarity Rank: 84
    SOMERSET
    Similarity Rank: 99
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Martha's Vineyard Savings Bank
    Similarity Rank: 128
    Triangle Credit Union
    Similarity Rank: 147

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 493 $143,855,000 $291,795 $2,292 4.03%

    For 2018, Unibank For Savings's most frequently originated type of loan was Conventional, with 493 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 225 $78,785,000 $350,156 $2,798 4.08%
    Cash Out Refi 124 $37,740,000 $304,355 $2,266 3.92%
    Refi 61 $15,135,000 $248,115 $1,922 3.95%
    Home Improvement 55 $9,985,000 $181,545 $1,557 4.01%
    Other 28 $2,210,000 $78,929 $642 4.23%

    For 2018, Unibank For Savings's most frequently cited loan purpose was Home Purchase, with 225 originations. The 2nd most popular reason was Cash Out Refi, with 124 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 367 $128,315,000 $349,632 $2,763 3.96%
    15 Year 44 $8,670,000 $197,045 $1,755 4.16%
    10 Year 32 $2,290,000 $71,563 $150 4.37%
    20 Year 25 $3,315,000 $132,600 $922 4.71%
    5 Year 22 $630,000 $28,636 $0 3.60%
    Other 2 $620,000 $310,000 $2,260 3.38%
    3 Year 1 $15,000 $15,000 $0 3.75%

    For 2018, Unibank For Savings's most frequently cited loan duration was 30 Year, with 367 originations. The 2nd most popular length was 15 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 487 $142,535,000 $292,680
    $1k-2k 2 $260,000 $130,000
    $4k-5k 1 $415,000 $415,000

    Unibank For Savings's average total fees were $2,763, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 487 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 244 $76,540,000 $313,689
    4-5% 200 $52,110,000 $260,550
    2.5-3% 26 $10,640,000 $409,231
    5-6% 21 $4,075,000 $194,048
    6-7% 2 $490,000 $245,000

    During 2018, Unibank For Savings's average interest rate for loans was 3.96%, while their most frequently originated rate bucket for loans was 3-4%, with 244 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 176 $50,170,000 $285,057 $2,521 3.97%
    $100k-200k 131 $20,125,000 $153,626 $2,106 4.22%
    $100,000 or less 78 $3,420,000 $43,846 $360 4.13%
    $400k-600k 68 $32,750,000 $481,618 $3,122 3.86%
    $600k-1MM 31 $23,145,000 $746,613 $3,758 3.72%
    $1MM+ 9 $14,245,000 $1,582,778 $5,910 3.72%

    2018 saw Unibank For Savings place emphasis on $200k-400k loans with 176 originations, totaling $50,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 135 $46,375,000 $343,519 $2,515 4.04%
    $100k-150k 105 $25,035,000 $238,429 $2,031 4.04%
    $250k+ 78 $43,100,000 $552,564 $3,002 3.87%
    $50k-75k 76 $12,330,000 $162,237 $1,928 4.05%
    $75k-100k 64 $12,360,000 $193,125 $1,935 4.01%
    $50k or less 28 $3,390,000 $121,071 $2,104 4.16%

    Unibank For Savings lent most frequently to those with incomes in the $150k-250k range, with 135 originations. The second most popular income band? $100k-150k, with 105 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 123 $37,565,000 $305,407 $2,236 3.97%
    30-36% 116 $32,620,000 $281,207 $2,189 4.10%
    <20% 62 $15,880,000 $256,129 $1,973 3.97%
    40% 33 $9,605,000 $291,061 $2,485 3.86%
    42% 29 $8,615,000 $297,069 $2,475 3.99%
    36% 27 $8,245,000 $305,370 $2,457 4.05%
    38% 26 $6,980,000 $268,462 $2,456 4.08%
    39% 22 $9,480,000 $430,909 $3,020 3.77%
    41% 18 $5,640,000 $313,333 $2,455 3.95%
    37% 13 $3,725,000 $286,538 $2,233 4.13%
    43% 4 $1,100,000 $275,000 $1,847 4.13%
    47% 4 $1,050,000 $262,500 $2,689 4.53%
    49% 3 $485,000 $161,667 $2,679 4.63%
    45% 3 $905,000 $301,667 $2,587 4.46%
    46% 2 $540,000 $270,000 $2,420 4.13%
    48% 2 $310,000 $155,000 $2,221 4.63%
    44% 2 $410,000 $205,000 $2,420 4.31%

    Unibank For Savings lent most frequently to those with DTI ratios of 20-30%, with 123 originations. The next most common DTI ratio? 30-36%, with 116 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 443 $132,425,000 $298,928 $2,331 4.01%
    Not provided 19 $3,945,000 $207,632 $1,684 4.12%
    Asian 14 $3,030,000 $216,429 $2,299 4.02%
    Asian Indian 3 $1,315,000 $438,333 $3,029 4.13%
    Black 6 $1,230,000 $205,000 $1,429 4.23%
    Not applicable 4 $700,000 $175,000 $0 5.28%
    American Indian 2 $530,000 $265,000 $1,601 4.06%
    Other Asian 1 $445,000 $445,000 $3,121 3.75%
    Japanese 1 $235,000 $235,000 $2,240 2.75%

    Approval Rates

    Total approvals of all applications
    92.47%

    Unibank For Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.61%

    Unibank For Savings has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 493 $143,855,000 $291,795

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $315,000 $315,000
    Single Family (1-4 Units):Site-Built 492 $143,540,000 $291,748

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $4,885,000 $132,027 $1,636 4.08%
    40-60% 80 $18,770,000 $234,625 $2,252 4.06%
    60-80% 204 $79,390,000 $389,167 $2,852 4.00%
    80-100% 108 $38,190,000 $353,611 $2,777 3.95%
    Under 20% 64 $2,620,000 $40,938 $131 4.17%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Unifin Inc. Conventional home mortgage Incorrect information on your report 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    UniBank for Savings 193 Boston Turnpike Shrewsbury, MA 1545 Full Service B&M $10,188
    UniBank for Savings 24 Gold Star Boulevard Worcester, MA 1605 Full Service B&M $20,555
    UniBank for Savings 25 North Main Street Uxbridge, MA 1569 Full Service B&M $94,819
    UniBank for Savings 29 Galaxy Pass Sutton, MA 1590 Full Service B&M $12,155
    UniBank for Savings 4 Mechanic Street East Douglas, MA 1516 Full Service B&M $68,687
    UniBank for Savings 10 Cheney Street Blackstone, MA 1504 Full Service B&M $54,267
    UniBank for Savings 101 Barry Road Worcester, MA 1609 Full Service B&M $2,003
    UniBank for Savings 113 Main Street Upton, MA 1568 Full Service B&M $60,961
    UniBank for Savings 1189 Providence Road Whitinsville, MA 1588 Full Service B&M $15,355
    UniBank for Savings 156 Worcester/Providence Turnpike Sutton, MA 1590 Full Service B&M $29,259
    UniBank for Savings 49 Church Street Whitinsville, MA 1588 Full Service B&M $1,191,394
    UniBank for Savings 87 West Main Street Hopkinton, MA 1748 Full Service B&M $28,346
    UniBank for Savings 89 Worcester Street North Grafton, MA 1536 Full Service B&M $23,133
    UniBank for Savings 91 Prospect Street Milford, MA 1757 Full Service B&M $28,135

    For 2018, Unibank For Savings had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $57,679
    Net interest income $49,170
    Total noninterest income $11,677
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,206
    Trading account gains and fees $0
    Additional Noninterest Income $10,471
    Pre-tax net operating income $13,380
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,313
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,313
    Minority interest net income $0
    Net income $10,313
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,313

    Unibank For Savings's gross interest income from loans was $57,679,000.
    Unibank For Savings's net interest income from loans was $49,170,000.
    Unibank For Savings's fee based income from loans was $1,206,000.
    Unibank For Savings's net income from loans was $10,313,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,509
    Provision for credit losses $3,292
    Total noninterest expense $44,175
    Salaries and employee benefits $25,175
    Premises and equipment expense $6,710
    Additional noninterest expense $12,290
    Applicable income taxes $3,067
    Net charge-offs $1,447
    Cash dividends $0

    Unibank For Savings's interest expense for loans was $8,509,000.
    Unibank For Savings's payroll and benefits expense were $25,175,000.
    Unibank For Savings's property, plant and equipment expenses $6,710,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,570,099
    Deposits held in domestic offices $1,570,099
    Deposits by Individuals, partnerships, and corporations $671,702
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $898,397
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $98,730
    Demand deposits $29,957
    Nontransaction accounts $1,471,369
    Money market deposit accounts (MMDAs) $622,721
    Other savings deposits (excluding MMDAs) $597,021
    Total time deposits $251,627
    Total time and savings deposits $1,540,142
    Noninterest-bearing deposits $148,418
    Interest-bearing deposits $1,421,681
    Retail deposits $1,467,898
    IRAs and Keogh plan accounts $28,682
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,762,949
    Cash & Balances due from depository institutions $137,486
    Interest-bearing balances $129,313
    Total securities $290,773
    Federal funds sold & reverse repurchase $7
    Net loans and leases $1,281,211
    Loan and leases loss allowance $13,312
    Trading account assets $0
    Bank premises and fixed assets $18,774
    Other real estate owned $765
    Goodwill and other intangibles $589
    All other assets $33,344

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,762,949
    Total Liabilities $1,618,907
    Total deposits $1,570,099
    Interest-bearing deposits $1,421,681
    Deposits held in domestic offices $1,570,099
    % insured (estimated) $43
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $38,000
    Subordinated debt $0
    All other liabilities $10,808

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,281,211
    Loan and leases loss allowance $13,312
    Total loans and leases (domestic) $1,294,523
    All real estate loans $759,706
    Real estate loans in domestic offices $759,706
    Construction and development loans $85,819
    Residential 1-4 family construction $14,240
    Other construction, all land development and other land $71,579
    Loans secured by nonfarm nonresidential properties $199,154
    Nonfarm nonresidential secured by owner-occupied properties $81,860
    Commercial real estate & other non-farm, non-residential $117,294
    Multifamily residential real estate $9,482
    1-4 family residential loans $465,251
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $98,238
    To non-U.S. addressees $0
    Loans to individuals $422,056
    Credit card loans $0
    Related Plans $100
    Consumer Auto Loans $3,426
    Other loans to individuals $418,530
    All other loans & leases $15,409
    Loans to foreign governments and official institutions $0
    Other loans $10,150
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,924
    Non 1-4 family restructured loans & leases $2,033
    Total loans and leases (foreign) $0

    UniBank for Savings had $1,281,211,000 of loans outstanding in 2018. $759,706,000 of loans were in real estate loans. $85,819,000 of loans were in development loans. $9,482,000 of loans were in multifamily mortgage loans. $465,251,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,426,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 59 $16,358 $277,254
    Nonfarm, nonresidential loans - <$100k 6 $243 $40,500
    Nonfarm, nonresidential loans - $100-250k 21 $2,776 $132,190
    Nonfarm, nonresidential loans - $250k-1MM 32 $13,339 $416,844
    Commercial & Industrial, US addressed loans - <$1MM 264 $19,086 $72,295
    Commercial & Industrial, US addressed loans - <$100k 160 $3,687 $23,044
    Commercial & Industrial, US addressed loans - $100-250k 59 $4,848 $82,169
    Commercial & Industrial, US addressed loans - $250k-1MM 45 $10,551 $234,467