Bath Savings Institution Mortgage Rates, Fees & Info
Bath, MELEI: 549300SVSM8JMOZJXF07
Tax ID: 01-0026120
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Mortgage Data
Review & Overview
Bath Savings Institution is a smaller mortgage company specializing in Home Purchase loans. Bath Savings Institution has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Bath Savings Institution 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. Bath Savings Institution 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.31% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 6.55% | 4/5/25 |
| 30 Year VA Purchase | 5.56% | 4/5/25 |
| 30 Year USDA Purchase | 6.11% | 4/5/25 |
| 15 Year Conventional Purchase | 7.23% | 4/5/25 |
| 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. | ||
Bath Savings Institution 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
245Origination Dollar Volume (All Markets)
$76,585,000Relative Rate
Bath Savings Institution's average 30 year fixed mortgage rate was
6.76%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
Bath Savings Institution's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,574.
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 $8,356.
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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 183 | $60,085,000 | $328,333 | $3,288 | 6.83% |
| Outside of Metro Areas | 40 | $10,710,000 | $267,750 | $3,260 | 7.01% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 15 | $4,205,000 | $280,333 | $4,205 | 6.77% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $4,462 | 6.85% |
| BANGOR, ME (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,059 | 7.19% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bath Savings Institution based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 15
Similarity Rank: 70
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Similarity Rank: 280
Similarity Rank: 300
Similarity Rank: 396
Similarity Rank: 525
Similarity Rank: 594
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 243 | $76,005,000 | $312,778 | $3,346 | 6.88% |
| VA | 1 | $235,000 | $235,000 | $2,678 | 5.45% |
| USDA | 1 | $345,000 | $345,000 | $6,675 | 4.95% |
For 2024, Bath Savings Institution's most frequently originated type of loan was Conventional, with 243 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2024, Bath Savings Institution's most frequently cited loan purpose was Home Purchase, with 177 originations. The 2nd most popular reason was Home Improvement, with 34 originations.
Loan Duration/Length
For 2024, Bath Savings Institution's most frequently cited loan duration was 30 Year, with 156 originations. The 2nd most popular length was 15 Year, with 31 originations.
Origination Fees/Closing Costs
Bath Savings Institution's average total fees were $4,574, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 118 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 114 | $45,590,000 | $399,912 |
| 7-8% | 94 | $22,560,000 | $240,000 |
| 5-6% | 18 | $6,230,000 | $346,111 |
| 4-5% | 13 | $875,000 | $67,308 |
| Over 8% | 6 | $1,330,000 | $221,667 |
During 2024, Bath Savings Institution's average interest rate for loans was 6.76%, while their most frequently originated rate bucket for loans was 6-7%, with 114 originations.
Loan Sizing
2024 saw Bath Savings Institution place emphasis on $200k-400k loans with 86 originations, totaling $24,550,000 in origination value.
Applicant Income
Bath Savings Institution lent most frequently to those with incomes in the $150k-250k range, with 59 originations. The second most popular income band? $100k-150k, with 53 originations.
Applicant Debt to Income Ratio
Bath Savings Institution lent most frequently to those with DTI ratios of 20-30%, with 50 originations. The next most common DTI ratio? 30-36%, with 41 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.21%
Bath Savings Institution has an average approval rate.
Pick Rate
Approvals leading to origination75.10%
Bath Savings Institution has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 245 | $76,585,000 | $312,592 |