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
  • 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, Providence, Barnstable Town, and Vineyard Haven among others. We have data for 11 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% 4/21/24
    30 Year Conventional Purchase 5.96% 4/21/24
    30 Year Conventional Refi 6.26% 4/21/24
    30 Year Cash-out Refi 5.98% 4/21/24
    15 Year Conventional Purchase 5.96% 4/21/24
    15 Year Conventional Refi 5.57% 4/21/24
    15 Year Cash-out Refi 5.57% 4/21/24
    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

    510

    Origination Dollar Volume (All Markets)

    $174,530,000

    Employee count

    270

    Awards

    UniBank for Savings 30 Year Conventional Loans gold UniBank for Savings 30 Year Conventional Loans silver UniBank for Savings 30 Year Conventional Loans gold UniBank for Savings 30 Year Conventional Loans bronze
    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
    WORCESTER, MA-CT (FHA|USDA|VA) 365 $87,475,000 $239,658 $2,117 4.09%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 97 $69,445,000 $715,928 $3,016 3.99%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 21 $5,705,000 $271,667 $2,077 4.14%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 15 $4,995,000 $333,000 $2,698 3.73%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $4,245,000 $4,245,000 $13,743 3.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $755,000 $755,000 $5,005 3.88%
    Laconia, NH (FHA|USDA|VA) 3 $715,000 $238,333 $2,842 3.88%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $415,000 $138,333 $1,675 4.50%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $335,000 $335,000 $3,613 3.63%
    Outside of Metro Areas 2 $290,000 $145,000 $2,802 3.81%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $155,000 $155,000 $2,384 4.25%
    Unibank For Savings's top markets include Worcester, Boston, Providence, Barnstable Town, and Vineyard Haven among others.

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

    SOMERSET
    Similarity Rank: 26
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 80
    Rhode Island Credit Union
    Similarity Rank: 116
    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    LEOMINSTER CREDIT UNION
    Similarity Rank: 180
    Charter Oak Federal Credit Union
    Similarity Rank: 294
    BankNewport
    Similarity Rank: 315
    OCEAN STATE CREDIT UNION
    Similarity Rank: 315
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 348

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 510 $174,530,000 $342,216 $2,336 4.06%

    For 2019, Unibank For Savings's most frequently originated type of loan was Conventional, with 510 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 217 $102,045,000 $470,253 $2,990 4.06%
    Cash Out Refi 151 $42,795,000 $283,411 $2,359 3.97%
    Refi 76 $23,950,000 $315,132 $2,368 3.78%
    Home Improvement 36 $4,090,000 $113,611 $0 4.66%
    Other 30 $1,650,000 $55,000 $243 4.49%

    For 2019, Unibank For Savings's most frequently cited loan purpose was Home Purchase, with 217 originations. The 2nd most popular reason was Cash Out Refi, with 151 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 347 $126,955,000 $365,865 $2,885 4.00%
    15 Year 56 $10,730,000 $191,607 $1,796 3.83%
    20 Year 46 $8,800,000 $191,304 $1,431 4.40%
    10 Year 36 $24,380,000 $677,222 $71 4.50%
    5 Year 17 $575,000 $33,824 $0 4.15%
    Other 6 $3,050,000 $508,333 $1,052 4.28%
    3 Year 2 $40,000 $20,000 $0 3.88%

    For 2019, Unibank For Savings's most frequently cited loan duration was 30 Year, with 347 originations. The 2nd most popular length was 15 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 493 $146,955,000 $298,083
    $1k-2k 3 $575,000 $191,667
    $2k-3k 3 $755,000 $251,667
    $4k-5k 1 $325,000 $325,000
    $5k+ 1 $865,000 $865,000

    Unibank For Savings's average total fees were $2,885, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 493 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 292 $111,820,000 $382,945
    4-5% 175 $55,575,000 $317,571
    5-6% 35 $5,135,000 $146,714
    2.5-3% 8 $2,000,000 $250,000

    During 2019, Unibank For Savings's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 3-4%, with 292 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 211 $59,815,000 $283,483 $2,554 3.94%
    $100k-200k 111 $17,295,000 $155,811 $2,007 4.15%
    $100,000 or less 80 $3,690,000 $46,125 $360 4.49%
    $400k-600k 66 $31,640,000 $479,394 $3,184 3.83%
    $600k-1MM 27 $19,335,000 $716,111 $4,203 3.89%
    $1MM+ 15 $42,755,000 $2,850,333 $6,555 3.99%

    2019 saw Unibank For Savings place emphasis on $200k-400k loans with 211 originations, totaling $59,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 117 $28,475,000 $243,376 $2,052 4.08%
    $150k-250k 107 $34,665,000 $323,972 $2,410 4.14%
    $250k+ 82 $49,000,000 $597,561 $3,478 3.98%
    $75k-100k 82 $16,860,000 $205,610 $2,010 3.93%
    $50k-75k 77 $14,135,000 $183,571 $1,956 4.13%
    $50k or less 27 $3,735,000 $138,333 $2,004 3.92%

    Unibank For Savings lent most frequently to those with incomes in the $100k-150k range, with 117 originations. The second most popular income band? $150k-250k, with 107 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 142 $41,260,000 $290,563 $2,365 4.03%
    30-36% 93 $29,925,000 $321,774 $2,366 4.05%
    <20% 56 $16,200,000 $289,286 $2,197 4.03%
    42% 28 $8,660,000 $309,286 $2,157 4.16%
    39% 27 $6,955,000 $257,593 $2,301 4.13%
    40% 27 $6,675,000 $247,222 $2,168 4.09%
    36% 24 $8,780,000 $365,833 $2,673 4.09%
    41% 21 $10,585,000 $504,048 $2,977 3.96%
    38% 18 $4,470,000 $248,333 $2,148 4.04%
    37% 15 $3,725,000 $248,333 $1,984 4.05%
    43% 14 $3,450,000 $246,429 $2,216 4.00%
    45% 9 $2,225,000 $247,222 $2,399 4.39%
    48% 7 $1,635,000 $233,571 $2,499 3.82%
    44% 5 $1,325,000 $265,000 $2,584 4.17%
    46% 5 $1,245,000 $249,000 $2,726 3.43%
    47% 4 $1,060,000 $265,000 $1,929 4.06%
    49% 4 $780,000 $195,000 $2,696 3.75%
    50-60% 1 $285,000 $285,000 $2,510 4.38%

    Unibank For Savings lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? 30-36%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 460 $136,910,000 $297,630 $2,333 4.06%
    Not applicable 7 $24,985,000 $3,569,286 $0 4.67%
    Not provided 27 $6,835,000 $253,148 $2,174 3.96%
    Asian 11 $4,345,000 $395,000 $2,954 3.92%
    Black 4 $1,430,000 $357,500 $2,663 3.84%
    Asian Indian 1 $25,000 $25,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    94.88%

    Unibank For Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.53%

    Unibank For Savings has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 510 $174,530,000 $342,216

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $24,840,000 $4,140,000
    Single Family (1-4 Units):Site-Built 504 $149,690,000 $297,004

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $5,995,000 $146,220 $1,581 4.06%
    40-60% 69 $18,715,000 $271,232 $2,488 3.84%
    60-80% 238 $109,150,000 $458,613 $2,735 4.00%
    80-100% 100 $38,250,000 $382,500 $3,052 4.01%
    Under 20% 62 $2,420,000 $39,032 $0 4.60%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    UniBank for Savings 10 Cheney Street Blackstone, MA 1504 Full Service B&M $58,720
    UniBank for Savings 101 Barry Road Worcester, MA 1609 Full Service B&M $2,769
    UniBank for Savings 113 Main Street Upton, MA 1568 Full Service B&M $65,276
    UniBank for Savings 1189 Providence Road, Whitinsville Plaza Whitinsville, MA 1588 Full Service B&M $17,014
    UniBank for Savings 156 Worcester/Providence Turnpike Sutton, MA 1590 Full Service B&M $26,809
    UniBank for Savings 193 Boston Turnpike, Suite 3160 Shrewsbury, MA 1545 Full Service B&M $19,137
    UniBank for Savings 24 Gold Star Boulevard Worcester, MA 1605 Full Service B&M $26,681
    UniBank for Savings 25 North Main Street, P.O. Box 370 Uxbridge, MA 1569 Full Service B&M $96,339
    UniBank for Savings 29 Galaxy Pass Sutton, MA 1590 Full Service B&M $14,174
    UniBank for Savings 4 Mechanic Street, P.O. Box 473 East Douglas, MA 1516 Full Service B&M $75,479
    UniBank for Savings 49 Church Street Whitinsville, MA 1588 Full Service B&M $1,118,086
    UniBank for Savings 87 West Main Street Hopkinton, MA 1748 Full Service B&M $35,825
    UniBank for Savings 89 Worcester Street North Grafton, MA 1536 Full Service B&M $25,715
    UniBank for Savings 91 Prospect Street Milford, MA 1757 Full Service B&M $37,293

    For 2019, Unibank For Savings had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $65,365
    Net interest income $53,019
    Total noninterest income $12,035
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,175
    Trading account gains and fees $0
    Additional Noninterest Income $10,860
    Pre-tax net operating income $12,559
    Securities gains (or losses, -) $0
    Income before extraordinary items $9,754
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,754
    Minority interest net income $0
    Net income $9,754
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,754

    Unibank For Savings's gross interest income from loans was $65,365,000.
    Unibank For Savings's net interest income from loans was $53,019,000.
    Unibank For Savings's fee based income from loans was $1,175,000.
    Unibank For Savings's net income from loans was $9,754,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,346
    Provision for credit losses $5,894
    Total noninterest expense $46,601
    Salaries and employee benefits $25,736
    Premises and equipment expense $5,679
    Additional noninterest expense $15,186
    Applicable income taxes $2,805
    Net charge-offs $5,216
    Cash dividends $0

    Unibank For Savings's interest expense for loans was $12,346,000.
    Unibank For Savings's payroll and benefits expense were $25,736,000.
    Unibank For Savings's property, plant and equipment expenses $5,679,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 4.0%
    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 $1,594,007
    Deposits held in domestic offices $1,594,007
    Deposits by Individuals, partnerships, and corporations $739,891
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $854,116
    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 $161,417
    Demand deposits $82,685
    Nontransaction accounts $1,432,590
    Money market deposit accounts (MMDAs) $612,738
    Other savings deposits (excluding MMDAs) $576,326
    Total time deposits $243,526
    Total time and savings deposits $1,511,322
    Noninterest-bearing deposits $172,812
    Interest-bearing deposits $1,421,195
    Retail deposits $1,526,178
    IRAs and Keogh plan accounts $29,949
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,767,684
    Cash & Balances due from depository institutions $84,476
    Interest-bearing balances $74,334
    Total securities $244,872
    Federal funds sold & reverse repurchase $11
    Net loans and leases $1,382,317
    Loan and leases loss allowance $13,990
    Trading account assets $3,426
    Bank premises and fixed assets $18,271
    Other real estate owned $765
    Goodwill and other intangibles $530
    All other assets $33,016

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,767,684
    Total Liabilities $1,607,879
    Total deposits $1,594,007
    Interest-bearing deposits $1,421,195
    Deposits held in domestic offices $1,594,007
    % insured (estimated) $43
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $3,426
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $10,446

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,382,317
    Loan and leases loss allowance $13,990
    Total loans and leases (domestic) $1,396,307
    All real estate loans $881,966
    Real estate loans in domestic offices $881,966
    Construction and development loans $116,636
    Residential 1-4 family construction $19,133
    Other construction, all land development and other land $97,503
    Loans secured by nonfarm nonresidential properties $258,476
    Nonfarm nonresidential secured by owner-occupied properties $74,980
    Commercial real estate & other non-farm, non-residential $183,496
    Multifamily residential real estate $8,387
    1-4 family residential loans $498,467
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $69,874
    To non-U.S. addressees $0
    Loans to individuals $432,775
    Credit card loans $0
    Related Plans $122
    Consumer Auto Loans $2,922
    Other loans to individuals $429,731
    All other loans & leases $12,921
    Loans to foreign governments and official institutions $0
    Other loans $7,522
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $3,154
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,047
    Non 1-4 family restructured loans & leases $1,869
    Total loans and leases (foreign) $0

    UniBank for Savings had $1,382,317,000 of loans outstanding in 2019. $881,966,000 of loans were in real estate loans. $116,636,000 of loans were in development loans. $8,387,000 of loans were in multifamily mortgage loans. $498,467,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,922,000 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 64 $15,980 $249,688
    Nonfarm, nonresidential loans - <$100k 7 $283 $40,429
    Nonfarm, nonresidential loans - $100-250k 27 $3,795 $140,556
    Nonfarm, nonresidential loans - $250k-1MM 30 $11,902 $396,733
    Commercial & Industrial, US addressed loans - <$1MM 282 $17,452 $61,887
    Commercial & Industrial, US addressed loans - <$100k 180 $4,272 $23,733
    Commercial & Industrial, US addressed loans - $100-250k 54 $4,208 $77,926
    Commercial & Industrial, US addressed loans - $250k-1MM 48 $8,972 $186,917