Avidia Bank Mortgage Rates, Fees & Info

Hudson, MA

LEI: 549300SZBQMYMAL3OM08

Tax ID: 04-3395834

5 stars - Updated: 6/9/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Avidia Bank is a smaller bank specializing in Home Purchase loans. Avidia Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, Barnstable Town, 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.)

Avidia Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Avidia Bank 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 relatively high 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
30 Year Conventional Purchase 6.56% 6/9/24
30 Year Conventional Refi 6.48% 6/9/24
30 Year Cash-out Refi 6.73% 6/9/24
15 Year Conventional Purchase 6.23% 6/9/24
15 Year Conventional Refi 5.90% 6/9/24
15 Year Cash-out Refi 5.90% 6/9/24
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.

Avidia Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Avidia Bank. 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

437

Origination Dollar Volume (All Markets)

$162,585,000

Awards

Avidia Bank 30 Year Conventional Loans silver Avidia Bank 30 Year Conventional Loans gold Avidia Bank 30 Year Conventional Loans silver Avidia Bank 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

Avidia Bank's average 30 year fixed mortgage rate was 6.3%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.18%.

Relative Fees (Closing Costs)

Avidia Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,899.

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 $9,089.

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) 201 $88,345,000 $439,527 $3,490 6.92%
WORCESTER, MA-CT (FHA|USDA|VA) 167 $44,675,000 $267,515 $2,800 6.94%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 26 $9,820,000 $377,692 $4,606 6.80%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 10 $5,670,000 $567,000 $3,045 7.00%
Outside of Metro Areas 5 $3,245,000 $649,000 $4,162 6.20%
Vineyard Haven, MA (FHA|USDA|VA) 1 $2,245,000 $2,245,000 $9,262 6.75%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $2,155,000 $431,000 $3,184 6.40%
Keene, NH (FHA|USDA|VA) 4 $1,390,000 $347,500 $10,209 6.94%
SPRINGFIELD, MA (FHA|USDA|VA) 3 $1,355,000 $451,667 $5,665 5.96%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 3 $1,025,000 $341,667 $3,653 6.58%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 5 $745,000 $149,000 $0 7.08%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $690,000 $345,000 $4,585 5.88%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $430,000 $215,000 $0 7.88%
Laconia, NH (FHA|USDA|VA) 2 $400,000 $200,000 $2,935 6.75%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $395,000 $395,000 $3,101 7.00%
Avidia Bank's top markets include Boston, Worcester, 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)
  • Vermont (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Avidia Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 274 $131,730,000 $480,766 $3,381 6.26%
    HELOC 163 $30,855,000 $189,294 n/a 7.99%

    For 2023, Avidia Bank's most frequently originated type of loan was Conventional, with 274 originations. Their 2nd most popular type was HELOC, with 163 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 211 $109,885,000 $520,782 $4,033 6.43%
    Home Improvement 90 $12,790,000 $142,111 $1,153 7.34%
    Cash Out Refi 78 $25,780,000 $330,513 $2,779 7.37%
    Other 45 $7,875,000 $175,000 $984 7.69%
    Refi 13 $6,255,000 $481,154 $2,731 6.06%

    For 2023, Avidia Bank's most frequently cited loan purpose was Home Purchase, with 211 originations. The 2nd most popular reason was Home Improvement, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 207 $104,835,000 $506,449 $3,899 6.30%
    20 Year 171 $34,215,000 $200,088 $2,079 7.94%
    15 Year 27 $6,525,000 $241,667 $1,787 5.11%
    Other 24 $16,700,000 $695,833 $830 6.77%
    10 Year 7 $275,000 $39,286 $456 6.73%
    5 Year 1 $35,000 $35,000 $408 6.75%

    For 2023, Avidia Bank's most frequently cited loan duration was 30 Year, with 207 originations. The 2nd most popular length was 20 Year, with 171 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 183 $79,325,000 $433,470
    $5k+ 8 $8,690,000 $1,086,250
    $2k-3k 2 $1,240,000 $620,000
    $3k-4k 2 $680,000 $340,000
    $4k-5k 2 $870,000 $435,000

    Avidia Bank's average total fees were $3,899, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 183 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 143 $36,515,000 $255,350
    6-7% 142 $72,930,000 $513,592
    5-6% 82 $40,840,000 $498,049
    Over 8% 53 $7,045,000 $132,925
    4-5% 9 $4,055,000 $450,556
    <2.5% 7 $205,000 $29,286
    3-4% 1 $995,000 $995,000

    During 2023, Avidia Bank's average interest rate for loans was 6.30%, while their most frequently originated rate bucket for loans was 7-8%, with 143 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 121 $34,685,000 $286,653 $3,009 6.77%
    $100k-200k 89 $11,615,000 $130,506 $1,998 7.55%
    $100,000 or less 82 $4,180,000 $50,976 $805 7.20%
    $400k-600k 72 $34,240,000 $475,556 $3,582 6.57%
    $600k-1MM 45 $34,575,000 $768,333 $4,970 6.33%
    $1MM+ 28 $43,290,000 $1,546,071 $7,600 6.33%

    2023 saw Avidia Bank place emphasis on $200k-400k loans with 121 originations, totaling $34,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 127 $78,045,000 $614,528 $5,047 6.90%
    $150k-250k 121 $39,265,000 $324,504 $3,222 7.17%
    $100k-150k 80 $18,490,000 $231,125 $2,926 6.77%
    $75k-100k 51 $8,075,000 $158,333 $2,542 6.69%
    $50k-75k 32 $3,400,000 $106,250 $2,050 6.96%
    $50k or less 6 $500,000 $83,333 $1,712 6.46%

    Avidia Bank lent most frequently to those with incomes in the $250k+ range, with 127 originations. The second most popular income band? $150k-250k, with 121 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $33,270,000 $361,630 $3,325 6.69%
    30-36% 66 $23,110,000 $350,152 $3,252 6.69%
    <20% 46 $20,520,000 $446,087 $4,809 6.86%
    36% 19 $8,735,000 $459,737 $4,223 6.57%
    43% 18 $5,960,000 $331,111 $3,813 7.26%
    41% 18 $4,450,000 $247,222 $3,449 7.11%
    48% 17 $4,055,000 $238,529 $2,117 7.24%
    46% 16 $4,400,000 $275,000 $3,231 7.55%
    40% 16 $6,350,000 $396,875 $2,954 7.16%
    44% 16 $3,500,000 $218,750 $2,305 7.06%
    42% 14 $5,630,000 $402,143 $3,696 7.44%
    37% 14 $4,640,000 $331,429 $2,424 7.14%
    49% 14 $4,210,000 $300,714 $3,406 7.36%
    39% 13 $5,665,000 $435,769 $3,554 6.60%
    47% 12 $3,210,000 $267,500 $2,509 6.82%
    38% 9 $2,545,000 $282,778 $2,948 7.28%
    50-60% 8 $4,340,000 $542,500 $5,203 6.53%
    45% 7 $1,875,000 $267,857 $2,094 7.27%

    Avidia Bank lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 259 $87,735,000 $338,745 $3,282 6.92%
    Not provided 80 $25,470,000 $318,375 $3,517 7.36%
    Asian 52 $21,180,000 $407,308 $3,388 6.43%
    Not applicable 17 $13,215,000 $777,353 $0 6.37%
    Asian Indian 27 $12,635,000 $467,963 $3,529 6.58%
    Black 1 $2,245,000 $2,245,000 $9,262 6.75%
    American Indian 1 $105,000 $105,000 $0 9.25%

    Approval Rates

    Total approvals of all applications
    89.53%

    Avidia Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.24%

    Avidia Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 437 $162,585,000 $372,048

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    437 $162,585,000 $372,048

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 81 $21,445,000 $264,753 $2,770 7.36%
    40-60% 45 $19,705,000 $437,889 $3,152 6.71%
    60-80% 122 $74,490,000 $610,574 $4,431 6.48%
    80-100% 66 $34,700,000 $525,758 $3,956 6.28%
    Under 20% 123 $12,245,000 $99,553 $778 7.43%