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

Review & Overview

Unibank For Savings is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Unibank For Savings has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, Providence, and Vineyard Haven among others. We have data for 15 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%	11/22/24
30 Year Conventional Purchase	5.96%	11/22/24
30 Year Conventional Refi	6.26%	11/22/24
30 Year Cash-out Refi	5.98%	11/22/24
15 Year Conventional Purchase	5.96%	11/22/24
15 Year Conventional Refi	5.57%	11/22/24
15 Year Cash-out Refi	5.57%	11/22/24
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

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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

766

Origination Dollar Volume (All Markets)

$344,440,000

Employee count

261

Awards

UniBank for Savings 30 Year Conventional Loans silver

Show all (3) 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
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	195	$152,185,000	$780,436	$4,005	2.87%
WORCESTER, MA-CT (FHA\|USDA\|VA)	487	$150,075,000	$308,162	$2,242	3.03%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	26	$15,360,000	$590,769	$3,167	2.90%
PROVIDENCE-WARWICK, RI-MA (FHA\|USDA\|VA)	35	$14,435,000	$412,429	$2,692	3.10%
Outside of Metro Areas	5	$4,785,000	$957,000	$4,930	3.18%
Vineyard Haven, MA (FHA\|USDA\|VA)	2	$3,200,000	$1,600,000	$6,700	3.00%
PORTLAND-SOUTH PORTLAND, ME (FHA\|USDA\|VA)	3	$925,000	$308,333	$2,708	2.88%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA\|USDA\|VA)	3	$915,000	$305,000	$2,928	2.92%
MANCHESTER-NASHUA, NH (FHA\|USDA\|VA)	2	$880,000	$440,000	$2,450	3.38%
SPRINGFIELD, MA (FHA\|USDA\|VA)	3	$605,000	$201,667	$2,259	2.96%
NORWICH-NEW LONDON, CT (FHA\|USDA\|VA)	1	$365,000	$365,000	$3,046	2.88%
Lebanon, NH-VT (FHA\|USDA\|VA)	1	$245,000	$245,000	$2,606	2.75%
Laconia, NH (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	2.63%
Rutland, VT (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,662	2.75%
Keene, NH (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,174	2.38%

Unibank For Savings's top markets include Boston, Worcester, Barnstable Town, Providence, and Vineyard Haven among others.

Their top states include:

Massachusetts (FHA|USDA|VA)

Rhode Island (FHA|USDA|VA)

New Hampshire (FHA|USDA|VA)

Connecticut (FHA|USDA|VA)

Maine (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: 87

Homestar Mortgage, Inc.
Similarity Rank: 156

FALL RIVER MUNICIPAL CREDIT UNION
Similarity Rank: 396

OCEAN STATE CREDIT UNION
Similarity Rank: 405

LUSO-AMERICAN CREDIT UNION
Similarity Rank: 474

Rhode Island Credit Union
Similarity Rank: 524

Sharon & Crescent United Credit Union
Similarity Rank: 540

WAVE FEDERAL CREDIT UNION
Similarity Rank: 596

WESTERLY COMMUNITY
Similarity Rank: 618

East Boston Savings Bank
Similarity Rank: 755

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	766	$344,440,000	$449,661	$2,786	2.99%

For 2021, Unibank For Savings's most frequently originated type of loan was Conventional, with 766 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	254	$168,560,000	$663,622	$4,021	2.94%
Refi	238	$73,290,000	$307,941	$2,350	2.87%
Cash Out Refi	212	$97,750,000	$461,085	$2,570	3.05%
Home Improvement	45	$3,435,000	$76,333	$104	3.40%
Other	17	$1,405,000	$82,647	$591	3.40%

For 2021, Unibank For Savings's most frequently cited loan purpose was Home Purchase, with 254 originations. The 2nd most popular reason was Refi, with 238 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	515	$264,755,000	$514,087	$3,421	3.00%
15 Year	119	$25,265,000	$212,311	$1,869	2.66%
20 Year	64	$13,740,000	$214,688	$1,612	3.14%
10 Year	35	$18,265,000	$521,857	$0	3.42%
5 Year	18	$16,470,000	$915,000	$0	3.21%
Other	15	$5,945,000	$396,333	$2,582	3.03%

For 2021, Unibank For Savings's most frequently cited loan duration was 30 Year, with 515 originations. The 2nd most popular length was 15 Year, with 119 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	608	$219,900,000	$361,678
$1k-2k	111	$77,975,000	$702,477
$2k-3k	4	$1,480,000	$370,000
$3k-4k	3	$755,000	$251,667
$4k-5k	3	$915,000	$305,000

Unibank For Savings's average total fees were $3,421, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 608 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	457	$220,425,000	$482,330
3-4%	228	$101,820,000	$446,579
<2.5%	65	$18,805,000	$289,308
4-5%	15	$3,205,000	$213,667
5-6%	1	$185,000	$185,000

During 2021, Unibank For Savings's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 457 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	268	$77,590,000	$289,515	$2,580	3.00%
$100k-200k	149	$22,795,000	$152,987	$1,878	2.95%
$600k-1MM	134	$98,210,000	$732,910	$4,331	2.82%
$400k-600k	101	$49,495,000	$490,050	$3,199	2.94%
$100,000 or less	73	$3,755,000	$51,438	$211	3.38%
$1MM+	41	$92,595,000	$2,258,415	$6,047	2.98%

2021 saw Unibank For Savings place emphasis on $200k-400k loans with 268 originations, totaling $77,590,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	205	$88,835,000	$433,341	$3,111	2.95%
$100k-150k	188	$58,800,000	$312,766	$2,436	2.99%
$250k+	135	$113,785,000	$842,852	$4,048	2.91%
$75k-100k	109	$26,195,000	$240,321	$2,184	3.00%
$50k-75k	84	$16,140,000	$192,143	$2,078	3.01%
$50k or less	38	$4,810,000	$126,579	$1,674	3.21%

Unibank For Savings lent most frequently to those with incomes in the $150k-250k range, with 205 originations. The second most popular income band? $100k-150k, with 188 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	232	$88,440,000	$381,207	$2,673	2.92%
30-36%	175	$70,325,000	$401,857	$2,999	2.95%
<20%	97	$38,225,000	$394,072	$2,482	2.97%
38%	39	$19,715,000	$505,513	$2,824	3.09%
42%	37	$17,445,000	$471,486	$2,756	3.22%
41%	32	$13,160,000	$411,250	$2,888	3.04%
40%	28	$14,640,000	$522,857	$3,246	3.01%
37%	25	$10,925,000	$437,000	$2,982	3.04%
39%	24	$14,440,000	$601,667	$3,667	2.96%
36%	23	$7,755,000	$337,174	$2,514	2.90%
43%	10	$2,300,000	$230,000	$2,271	3.01%
46%	9	$1,925,000	$213,889	$1,952	2.99%
48%	9	$2,595,000	$288,333	$2,334	3.14%
47%	7	$1,955,000	$279,286	$2,638	2.86%
44%	5	$1,835,000	$367,000	$2,627	3.93%
45%	3	$1,105,000	$368,333	$3,527	2.71%
50-60%	3	$805,000	$268,333	$2,738	2.92%
49%	1	$295,000	$295,000	$1,976	3.25%

Unibank For Savings lent most frequently to those with DTI ratios of 20-30%, with 232 originations. The next most common DTI ratio? 30-36%, with 175 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	667	$258,625,000	$387,744	$2,701	2.99%
Not applicable	6	$35,750,000	$5,958,333	$0	3.51%
Not provided	45	$22,225,000	$493,889	$2,990	2.93%
Asian	34	$19,490,000	$573,235	$3,699	2.88%
Asian Indian	4	$3,220,000	$805,000	$4,881	2.75%
Black	4	$1,640,000	$410,000	$2,461	3.13%
Chinese	2	$1,590,000	$795,000	$4,885	2.75%
Vietnamese	1	$765,000	$765,000	$4,770	2.75%
Korean	1	$625,000	$625,000	$4,129	2.75%
American Indian	2	$510,000	$255,000	$2,654	3.63%

Approval Rates

Total approvals of all applications
95.06%

Unibank 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 origination
87.47%

Unibank For Savings has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	766	$344,440,000	$449,661

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	766	$344,440,000	$449,661

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	74	$13,570,000	$183,378	$1,742	2.95%
40-60%	174	$61,900,000	$355,747	$2,572	2.86%
60-80%	309	$179,945,000	$582,346	$3,212	3.01%
80-100%	144	$85,060,000	$590,694	$3,940	2.94%
Under 20%	65	$3,965,000	$61,000	$68	3.38%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Unibank For Savings	10 Cheney Street Blackstone, MA 1504	Full Service B&M	$72,406
Unibank For Savings	101 Barry Road Worcester, MA 1609	Full Service B&M	$2,761
Unibank For Savings	113 Main Street Upton, MA 1568	Full Service B&M	$82,248
Unibank For Savings	1189 Providence Road, Whitinsville Plaza Whitinsville, MA 1588	Full Service B&M	$19,441
Unibank For Savings	156 Worcester/Providence Turnpike Sutton, MA 1590	Full Service B&M	$29,114
Unibank For Savings	193 Boston Turnpike, Suite 3160 Shrewsbury, MA 1545	Full Service B&M	$23,731
Unibank For Savings	24 Gold Star Boulevard Worcester, MA 1605	Full Service B&M	$98,996
Unibank For Savings	25 North Main Street, P.O. Box 370 Uxbridge, MA 1569	Full Service B&M	$135,166
Unibank For Savings	29 Galaxy Pass Sutton, MA 1590	Full Service B&M	$31,017
Unibank For Savings	4 Mechanic Street, P.O. Box 473 East Douglas, MA 1516	Full Service B&M	$105,141
Unibank For Savings	49 Church St Whitinsville, MA 1588	Full Service B&M	$1,454,334
Unibank For Savings	87 West Main Street Hopkinton, MA 1748	Full Service B&M	$28,552
Unibank For Savings	89 Worcester Street North Grafton, MA 1536	Full Service B&M	$39,343
Unibank For Savings	91 Prospect Street Milford, MA 1757	Full Service B&M	$62,496

For 2021, Unibank For Savings had 14 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$59,093
Net interest income	$56,490
Total noninterest income	$19,097
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,213
Trading account gains and fees	$0
Additional Noninterest Income	$17,884
Pre-tax net operating income	$15,777
Securities gains (or losses, -)	$152
Income before extraordinary items	$11,786
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$11,786
Minority interest net income	$0
Net income	$11,786
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$11,665

Unibank For Savings's gross interest income from loans was $59,093,000.
Unibank For Savings's net interest income from loans was $56,490,000.
Unibank For Savings's fee based income from loans was $1,213,000.
Unibank For Savings's net income from loans was $11,786,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,603
Provision for credit losses	$6,037
Total noninterest expense	$53,773
Salaries and employee benefits	$27,981
Premises and equipment expense	$8,031
Additional noninterest expense	$17,761
Applicable income taxes	$4,143
Net charge-offs	$10,545
Cash dividends	$0

Unibank For Savings's interest expense for loans was $2,603,000.
Unibank For Savings's payroll and benefits expense were $27,981,000.
Unibank For Savings's property, plant and equipment expenses $8,031,000.

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	0.0%
Multifamily residential loans	1.0%
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	$2,014,760
Deposits held in domestic offices	$2,014,760
Deposits by Individuals, partnerships, and corporations	$983,512
Deposits by U.S. Government	$48
Deposits by States and political subdivisions in the U.S.	$1,031,200
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	$935,400
Demand deposits	$288,059
Nontransaction accounts	$1,079,360
Money market deposit accounts (MMDAs)	$736,806
Other savings deposits (excluding MMDAs)	$182,752
Total time deposits	$159,802
Total time and savings deposits	$1,726,701
Noninterest-bearing deposits	$283,744
Interest-bearing deposits	$1,731,016
Retail deposits	$1,975,875
IRAs and Keogh plan accounts	$28,710
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,378,833
Cash & Balances due from depository institutions	$73,772
Interest-bearing balances	$63,794
Total securities	$729,516
Federal funds sold & reverse repurchase	$44
Net loans and leases	$1,513,882
Loan and leases loss allowance	$17,492
Trading account assets	$4,616
Bank premises and fixed assets	$16,356
Other real estate owned	$0
Goodwill and other intangibles	$967
All other assets	$39,680

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,378,833
Total Liabilities	$2,190,376
Total deposits	$2,014,760
Interest-bearing deposits	$1,731,016
Deposits held in domestic offices	$2,014,760
% insured (estimated)	$44
Federal funds purchased and repurchase agreements	$151,469
Trading liabilities	$5,663
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$18,484

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,513,882
Loan and leases loss allowance	$17,492
Total loans and leases (domestic)	$1,531,374
All real estate loans	$978,001
Real estate loans in domestic offices	$978,001
Construction and development loans	$91,073
Residential 1-4 family construction	$45,285
Other construction, all land development and other land	$45,788
Loans secured by nonfarm nonresidential properties	$364,041
Nonfarm nonresidential secured by owner-occupied properties	$99,493
Commercial real estate & other non-farm, non-residential	$264,548
Multifamily residential real estate	$18,634
1-4 family residential loans	$504,253
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$69,351
To non-U.S. addressees	$0
Loans to individuals	$482,525
Credit card loans	$0
Related Plans	$82
Consumer Auto Loans	$1,806
Other loans to individuals	$480,637
All other loans & leases	$2,940
Loans to foreign governments and official institutions	$0
Other loans	$0
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$2,962
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$3,946
Non 1-4 family restructured loans & leases	$2,152
Total loans and leases (foreign)	$0

UniBank for Savings had $1,513,882,000 of loans outstanding in 2021. $978,001,000 of loans were in real estate loans. $91,073,000 of loans were in development loans. $18,634,000 of loans were in multifamily mortgage loans. $504,253,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,806,000 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	78	$21,786	$279,308
Nonfarm, nonresidential loans - <$100k	8	$284	$35,500
Nonfarm, nonresidential loans - $100-250k	27	$3,625	$134,259
Nonfarm, nonresidential loans - $250k-1MM	43	$17,877	$415,744
Commercial & Industrial, US addressed loans - <$1MM	468	$23,658	$50,551
Commercial & Industrial, US addressed loans - <$100k	283	$6,463	$22,837
Commercial & Industrial, US addressed loans - $100-250k	98	$5,052	$51,551
Commercial & Industrial, US addressed loans - $250k-1MM	87	$12,143	$139,575