Bath Savings Institution Mortgage Rates, Fees & Info

Bath, ME

LEI: 549300SVSM8JMOZJXF07

Tax ID: 01-0026120

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

    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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Portland, Lewiston, and Augusta among others. We have data for 4 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.

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

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.20% 4/21/24
    30 Year Conventional Refi 6.60% 4/21/24
    30 Year Cash-out Refi 6.47% 4/21/24
    30 Year VA Purchase 5.96% 4/21/24
    30 Year USDA Purchase 5.71% 4/21/24
    15 Year Conventional Purchase 6.32% 4/21/24
    15 Year Conventional Refi 5.93% 4/21/24
    15 Year Cash-out Refi 5.93% 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.

    Bath Savings Institution Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bath Savings Institution. 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

    396

    Origination Dollar Volume (All Markets)

    $98,770,000

    Employee count

    180

    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) 322 $84,910,000 $263,696 $3,092 4.39%
    Outside of Metro Areas 55 $10,525,000 $191,364 $3,080 4.36%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 12 $2,130,000 $177,500 $3,852 4.43%
    Augusta-Waterville, ME (FHA|USDA|VA) 7 $1,205,000 $172,143 $3,158 4.77%
    Bath Savings Institution's top markets include Portland, Lewiston, and Augusta among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • 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.

    MAINE FAMILY
    Similarity Rank: 6
    Piscataqua Savings Bank
    Similarity Rank: 52
    CASCO
    Similarity Rank: 126
    Maine Savings Federal Credit Union
    Similarity Rank: 161
    CUMBERLAND COUNTY
    Similarity Rank: 320
    Saco Valley Credit Union
    Similarity Rank: 328
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 336
    INTEGRITY MORTGAGE LLC
    Similarity Rank: 350
    NORTHEAST CREDIT UNION
    Similarity Rank: 352
    FIVE COUNTY
    Similarity Rank: 355

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 387 $96,925,000 $250,452 $3,068 4.39%
    USDA 5 $865,000 $173,000 $3,899 3.94%
    FHA 3 $815,000 $271,667 $7,241 4.33%
    VA 1 $165,000 $165,000 $3,003 5.00%

    For 2019, Bath Savings Institution's most frequently originated type of loan was Conventional, with 387 originations. Their 2nd most popular type was USDA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 225 $62,645,000 $278,422 $3,621 4.41%
    Cash Out Refi 67 $16,705,000 $249,328 $3,094 4.07%
    Refi 53 $14,395,000 $271,604 $2,784 4.28%
    Home Improvement 26 $2,340,000 $90,000 $1,232 4.70%
    Other 25 $2,685,000 $107,400 $1,162 5.01%

    For 2019, Bath Savings Institution's most frequently cited loan purpose was Home Purchase, with 225 originations. The 2nd most popular reason was Cash Out Refi, with 67 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 257 $74,095,000 $288,307 $3,701 4.32%
    15 Year 48 $7,050,000 $146,875 $2,007 4.58%
    10 Year 40 $4,250,000 $106,250 $1,003 3.93%
    20 Year 33 $7,315,000 $221,667 $3,185 4.86%
    Other 12 $5,750,000 $479,167 $2,078 4.91%
    5 Year 6 $310,000 $51,667 $384 5.24%

    For 2019, Bath Savings Institution's most frequently cited loan duration was 30 Year, with 257 originations. The 2nd most popular length was 15 Year, with 48 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 247 $59,565,000 $241,154
    $1k-2k 74 $17,460,000 $235,946
    $2k-3k 30 $7,670,000 $255,667
    $3k-4k 8 $2,300,000 $287,500
    $5k+ 2 $620,000 $310,000
    $4k-5k 1 $275,000 $275,000

    Bath Savings Institution's average total fees were $3,701, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 247 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 172 $41,570,000 $241,686
    4-5% 155 $45,895,000 $296,097
    5-6% 67 $11,015,000 $164,403
    6-7% 2 $290,000 $145,000

    During 2019, Bath Savings Institution's average interest rate for loans was 4.32%, while their most frequently originated rate bucket for loans was 3-4%, with 172 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 159 $43,785,000 $275,377 $3,834 4.40%
    $100k-200k 122 $18,320,000 $150,164 $2,730 4.31%
    $100,000 or less 59 $2,995,000 $50,763 $1,238 4.66%
    $400k-600k 40 $18,990,000 $474,750 $3,738 4.29%
    $600k-1MM 13 $9,125,000 $701,923 $4,611 4.15%
    $1MM+ 3 $5,555,000 $1,851,667 $5,074 4.34%

    2019 saw Bath Savings Institution place emphasis on $200k-400k loans with 159 originations, totaling $43,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 79 $18,805,000 $238,038 $3,184 4.35%
    $50k-75k 76 $14,630,000 $192,500 $3,177 4.33%
    $150k-250k 59 $17,555,000 $297,542 $3,629 4.29%
    $50k or less 55 $8,105,000 $147,364 $2,353 4.14%
    $75k-100k 53 $11,185,000 $211,038 $3,031 4.52%
    $250k+ 44 $19,160,000 $435,455 $3,465 4.32%

    Bath Savings Institution lent most frequently to those with incomes in the $100k-150k range, with 79 originations. The second most popular income band? $50k-75k, with 76 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 86 $18,880,000 $219,535 $2,982 4.32%
    30-36% 62 $15,720,000 $253,548 $3,243 4.20%
    <20% 39 $9,345,000 $239,615 $3,129 4.12%
    >60% 30 $9,360,000 $312,000 $2,793 4.58%
    42% 19 $5,025,000 $264,474 $3,192 4.40%
    37% 17 $3,585,000 $210,882 $3,199 4.43%
    50-60% 14 $4,270,000 $305,000 $3,323 4.24%
    38% 12 $3,730,000 $310,833 $3,811 4.19%
    40% 12 $2,540,000 $211,667 $3,044 4.61%
    36% 11 $2,445,000 $222,273 $3,087 4.16%
    44% 10 $2,000,000 $200,000 $2,986 4.66%
    43% 10 $2,170,000 $217,000 $3,531 4.40%
    41% 9 $2,015,000 $223,889 $3,263 4.47%
    39% 8 $1,920,000 $240,000 $2,666 4.30%
    48% 7 $1,755,000 $250,714 $3,314 4.14%
    47% 5 $765,000 $153,000 $2,654 4.40%
    46% 5 $1,035,000 $207,000 $3,503 3.80%
    45% 3 $485,000 $161,667 $2,999 4.08%
    49% 2 $460,000 $230,000 $3,439 4.31%

    Bath Savings Institution lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 338 $81,320,000 $240,592 $3,052 4.34%
    Not applicable 23 $8,145,000 $354,130 $0 5.37%
    Not provided 23 $6,475,000 $281,522 $3,373 4.26%
    Black 5 $1,335,000 $267,000 $5,713 4.40%
    Asian 4 $840,000 $210,000 $2,898 4.06%
    American Indian 3 $655,000 $218,333 $3,850 4.04%

    Approval Rates

    Total approvals of all applications
    93.85%

    Bath Savings Institution has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.45%

    Bath Savings Institution has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 396 $98,770,000 $249,419

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $4,345,000 $869,000
    Single Family (1-4 Units):Manufactured 8 $900,000 $112,500
    Single Family (1-4 Units):Site-Built 383 $93,525,000 $244,191

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 46 $6,350,000 $138,043 $1,838 4.42%
    40-60% 59 $14,325,000 $242,797 $2,832 4.11%
    60-80% 158 $46,220,000 $292,532 $3,621 4.36%
    80-100% 96 $25,890,000 $269,688 $3,956 4.43%
    Over 100% 1 $1,255,000 $1,255,000 $4,797 4.00%
    Under 20% 36 $4,730,000 $131,389 $824 4.83%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bath Savings Institution 1 Todd Ave Boothbay Harbor, ME 4538 Full Service B&M $27,808
    Bath Savings Institution 105 Front Street Bath, ME 4530 Full Service B&M $355,589
    Bath Savings Institution 189 Lower Main Street Freeport, ME 4032 Full Service B&M $80,689
    Bath Savings Institution 225 Ocean Street South Portland, ME 4106 Full Service B&M $14,078
    Bath Savings Institution 239 U.S. Route One Falmouth, ME 4105 Full Service B&M $45,864
    Bath Savings Institution 26 Elm Street Topsham, ME 4086 Limited, Mobile/Seasonal Office $8,460
    Bath Savings Institution 3 Pleasant Street Brunswick, ME 4011 Full Service B&M $99,605
    Bath Savings Institution 424 U.S. Route One Yarmouth, ME 4096 Full Service B&M $42,893
    Bath Savings Institution 46 Auburn Street Portland, ME 4103 Full Service B&M $29,034
    Bath Savings Institution 52 Falmouth Road Falmouth, ME 4105 Limited, Mobile/Seasonal Office $5,457
    Bath Savings Institution 777 Stevens Ave Portland, ME 4103 Limited, Mobile/Seasonal Office $1,941
    Bath Savings Institution 8 Church Street Damariscotta, ME 4543 Full Service B&M $44,235

    For 2019, Bath Savings Institution had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $36,278
    Net interest income $29,131
    Total noninterest income $9,587
    Gross Fiduciary activities income $6,066
    Service charges on deposit accounts $400
    Trading account gains and fees $0
    Additional Noninterest Income $3,121
    Pre-tax net operating income $13,440
    Securities gains (or losses, -) $6,387
    Income before extraordinary items $16,147
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,147
    Minority interest net income $0
    Net income $16,147
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,973

    Bath Savings Institution's gross interest income from loans was $36,278,000.
    Bath Savings Institution's net interest income from loans was $29,131,000.
    Bath Savings Institution's fee based income from loans was $400,000.
    Bath Savings Institution's net income from loans was $16,147,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,147
    Provision for credit losses $365
    Total noninterest expense $24,913
    Salaries and employee benefits $14,714
    Premises and equipment expense $4,830
    Additional noninterest expense $5,369
    Applicable income taxes $3,680
    Net charge-offs $5
    Cash dividends $0

    Bath Savings Institution's interest expense for loans was $7,147,000.
    Bath Savings Institution's payroll and benefits expense were $14,714,000.
    Bath Savings Institution's property, plant and equipment expenses $4,830,000.

    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 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 $737,319
    Deposits held in domestic offices $737,319
    Deposits by Individuals, partnerships, and corporations $665,453
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $71,866
    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 $71,680
    Demand deposits $22,343
    Nontransaction accounts $665,639
    Money market deposit accounts (MMDAs) $197
    Other savings deposits (excluding MMDAs) $495,880
    Total time deposits $169,562
    Total time and savings deposits $714,976
    Noninterest-bearing deposits $128,307
    Interest-bearing deposits $609,012
    Retail deposits $669,944
    IRAs and Keogh plan accounts $13,079
    Brokered deposits $38,054
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $937,261
    Cash & Balances due from depository institutions $44,522
    Interest-bearing balances $37,700
    Total securities $212,430
    Federal funds sold & reverse repurchase $0
    Net loans and leases $631,999
    Loan and leases loss allowance $7,560
    Trading account assets $0
    Bank premises and fixed assets $16,103
    Other real estate owned $0
    Goodwill and other intangibles $1,360
    All other assets $30,847

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $937,261
    Total Liabilities $794,591
    Total deposits $737,319
    Interest-bearing deposits $609,012
    Deposits held in domestic offices $737,319
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $9,778
    Trading liabilities $0
    Other borrowed funds $35,942
    Subordinated debt $0
    All other liabilities $11,552

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $631,999
    Loan and leases loss allowance $7,560
    Total loans and leases (domestic) $639,559
    All real estate loans $565,678
    Real estate loans in domestic offices $565,678
    Construction and development loans $44,853
    Residential 1-4 family construction $10,669
    Other construction, all land development and other land $34,184
    Loans secured by nonfarm nonresidential properties $166,772
    Nonfarm nonresidential secured by owner-occupied properties $57,008
    Commercial real estate & other non-farm, non-residential $109,764
    Multifamily residential real estate $24,727
    1-4 family residential loans $329,326
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $3,220
    Commercial and industrial loans $51,268
    To non-U.S. addressees $0
    Loans to individuals $11,195
    Credit card loans $317
    Related Plans $171
    Consumer Auto Loans $2,376
    Other loans to individuals $8,331
    All other loans & leases $8,766
    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 $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $453
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Bath Savings Institution had $631,999,000 of loans outstanding in 2019. $565,678,000 of loans were in real estate loans. $44,853,000 of loans were in development loans. $24,727,000 of loans were in multifamily mortgage loans. $329,326,000 of loans were in 1-4 family mortgage loans. $3,220,000 of loans were in farm loans. $317,000 of loans were in credit card loans. $2,376,000 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 220 $50,011 $227,323
    Nonfarm, nonresidential loans - <$100k 29 $1,505 $51,897
    Nonfarm, nonresidential loans - $100-250k 97 $13,384 $137,979
    Nonfarm, nonresidential loans - $250k-1MM 94 $35,122 $373,638
    Commercial & Industrial, US addressed loans - <$1MM 600 $25,787 $42,978
    Commercial & Industrial, US addressed loans - <$100k 410 $6,252 $15,249
    Commercial & Industrial, US addressed loans - $100-250k 133 $8,050 $60,526
    Commercial & Industrial, US addressed loans - $250k-1MM 57 $11,485 $201,491
    Agriculture operations loans - <$1MM 47 $3,220 $68,511
    Agriculture operations loans - <$100k 39 $1,288 $33,026
    Agriculture operations loans - $100-250k 5 $827 $165,400
    Agriculture operations loans - $250k-1MM 3 $1,105 $368,333