Avidia Bank Mortgage Rates, Fees & Info

Hudson, MA

LEI: 549300SZBQMYMAL3OM08

Tax ID: 04-3395834

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

Jump to:

  • 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

    Avidia Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Avidia Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, Providence, and Portland among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Avidia Bank 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. 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 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
    30 Year Conventional Purchase 6.56% 11/21/24
    30 Year Conventional Refi 6.48% 11/21/24
    30 Year Cash-out Refi 6.73% 11/21/24
    15 Year Conventional Purchase 6.23% 11/21/24
    15 Year Conventional Refi 5.90% 11/21/24
    15 Year Cash-out Refi 5.90% 11/21/24
    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.

    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

    420

    Origination Dollar Volume (All Markets)

    $164,510,000

    Employee count

    228

    Awards

    Avidia Bank 30 Year Conventional Loans silver Avidia Bank 30 Year Conventional Loans gold
    Show all (2) 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) 181 $84,095,000 $464,613 $2,825 4.67%
    WORCESTER, MA-CT (FHA|USDA|VA) 197 $65,425,000 $332,107 $2,591 4.80%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 11 $6,385,000 $580,455 $2,953 4.81%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $2,915,000 $323,889 $2,498 4.79%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 4 $1,130,000 $282,500 $2,741 4.44%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $8,296 4.38%
    Keene, NH (FHA|USDA|VA) 4 $740,000 $185,000 $3,634 5.16%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $705,000 $235,000 $2,799 4.71%
    Outside of Metro Areas 2 $530,000 $265,000 $2,988 4.25%
    Laconia, NH (FHA|USDA|VA) 1 $505,000 $505,000 $2,908 4.63%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $320,000 $160,000 $0 5.31%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 5.25%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 5.75%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $145,000 $145,000 $0 5.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.00%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $55,000 $55,000 $1,882 3.75%
    Avidia Bank's top markets include Boston, Worcester, Barnstable Town, Providence, and Portland among others.

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

    Westport Federal Credit Union
    Similarity Rank: 23
    Notre Dame Community Federal Credit Union
    Similarity Rank: 38
    PAWTUCKET
    Similarity Rank: 60
    Bank of Easton
    Similarity Rank: 66
    Charter Oak Federal Credit Union
    Similarity Rank: 84
    SOMERSET
    Similarity Rank: 99
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Martha's Vineyard Savings Bank
    Similarity Rank: 128
    Triangle Credit Union
    Similarity Rank: 147

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 420 $164,510,000 $391,690 $2,735 4.75%

    For 2018, Avidia Bank's most frequently originated type of loan was Conventional, with 420 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 230 $86,050,000 $374,130 $3,009 4.74%
    Cash Out Refi 112 $37,590,000 $335,625 $2,658 4.78%
    Refi 47 $33,305,000 $708,617 $2,307 4.38%
    Home Improvement 20 $3,870,000 $193,500 $1,863 5.19%
    Other 11 $3,695,000 $335,909 $1,266 5.19%

    For 2018, Avidia Bank's most frequently cited loan purpose was Home Purchase, with 230 originations. The 2nd most popular reason was Cash Out Refi, with 112 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 293 $107,925,000 $368,345 $3,016 4.74%
    15 Year 56 $13,930,000 $248,750 $2,324 4.24%
    Other 24 $11,550,000 $481,250 $282 5.94%
    20 Year 21 $5,325,000 $253,571 $2,669 4.75%
    10 Year 20 $24,030,000 $1,201,500 $1,120 4.84%
    5 Year 5 $1,095,000 $219,000 $410 4.47%
    1 Year 1 $655,000 $655,000 $0 6.00%

    For 2018, Avidia Bank's most frequently cited loan duration was 30 Year, with 293 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 271 $87,855,000 $324,188
    $1k-2k 5 $1,445,000 $289,000
    $5k+ 5 $5,045,000 $1,009,000
    $3k-4k 4 $1,630,000 $407,500
    $2k-3k 2 $620,000 $310,000
    $4k-5k 2 $850,000 $425,000

    Avidia Bank's average total fees were $3,016, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 271 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 225 $86,945,000 $386,422
    5-6% 120 $47,440,000 $395,333
    3-4% 56 $26,690,000 $476,607
    6-7% 15 $3,405,000 $227,000
    <2.5% 4 $30,000 $7,500

    During 2018, Avidia Bank's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 4-5%, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 172 $48,180,000 $280,116 $2,693 4.73%
    $100k-200k 104 $15,720,000 $151,154 $2,097 4.84%
    $400k-600k 54 $25,660,000 $475,185 $3,135 4.56%
    $100,000 or less 44 $2,450,000 $55,682 $789 4.86%
    $1MM+ 25 $56,205,000 $2,248,200 $7,154 4.66%
    $600k-1MM 21 $16,295,000 $775,952 $5,618 4.73%

    2018 saw Avidia Bank place emphasis on $200k-400k loans with 172 originations, totaling $48,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 104 $28,490,000 $273,942 $2,634 4.66%
    $150k-250k 81 $26,595,000 $328,333 $2,733 4.80%
    $250k+ 58 $43,060,000 $742,414 $5,344 4.61%
    $50k-75k 58 $10,770,000 $185,690 $2,131 4.66%
    $75k-100k 57 $12,345,000 $216,579 $2,190 4.86%
    $50k or less 34 $5,550,000 $163,235 $1,942 4.61%

    Avidia Bank lent most frequently to those with incomes in the $100k-150k range, with 104 originations. The second most popular income band? $150k-250k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $26,285,000 $350,467 $3,205 4.59%
    30-36% 61 $18,325,000 $300,410 $2,469 4.69%
    <20% 40 $8,160,000 $204,000 $2,779 4.83%
    50-60% 33 $12,955,000 $392,576 $2,882 4.83%
    41% 19 $5,085,000 $267,632 $2,483 4.74%
    36% 17 $7,855,000 $462,059 $2,751 4.64%
    45% 14 $4,280,000 $305,714 $2,670 4.58%
    40% 13 $3,225,000 $248,077 $2,259 4.61%
    39% 13 $6,145,000 $472,692 $3,149 4.84%
    38% 13 $5,325,000 $409,615 $2,378 4.39%
    37% 13 $4,635,000 $356,538 $2,523 4.86%
    44% 13 $5,405,000 $415,769 $2,887 4.58%
    49% 13 $3,875,000 $298,077 $2,498 4.67%
    42% 12 $3,260,000 $271,667 $3,299 5.02%
    46% 12 $2,670,000 $222,500 $1,967 4.94%
    43% 10 $2,800,000 $280,000 $2,159 5.03%
    48% 9 $2,735,000 $303,889 $3,081 4.88%
    47% 9 $2,815,000 $312,778 $2,656 4.29%
    >60% 4 $1,130,000 $282,500 $2,261 4.34%

    Avidia Bank lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 287 $88,265,000 $307,544 $2,645 4.67%
    Not applicable 24 $36,900,000 $1,537,500 $0 5.39%
    Not provided 53 $20,505,000 $386,887 $3,286 4.75%
    Asian 47 $16,545,000 $352,021 $2,820 4.76%
    Black 6 $1,610,000 $268,333 $1,985 5.23%
    Other Asian 2 $550,000 $275,000 $1,519 5.13%
    Asian Indian 1 $135,000 $135,000 $0 4.88%

    Approval Rates

    Total approvals of all applications
    96.62%

    Avidia Bank 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
    89.52%

    Avidia Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 420 $164,510,000 $391,690

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $5,315,000 $590,556
    Single Family (1-4 Units):Site-Built 411 $159,195,000 $387,336

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $2,995,000 $157,632 $2,002 4.58%
    40-60% 50 $20,420,000 $408,400 $2,536 4.64%
    60-80% 197 $77,935,000 $395,609 $3,312 4.77%
    80-100% 115 $38,265,000 $332,739 $2,818 4.74%
    Over 100% 8 $20,780,000 $2,597,500 $3,061 5.36%
    Under 20% 31 $4,115,000 $132,742 $635 4.75%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Avidia Bank 100 East Main Street Westborough, MA 1581 Full Service B&M $180,117
    Avidia Bank 1073 Main Street Clinton, MA 1510 Full Service B&M $70,243
    Avidia Bank 17 Pope Street Hudson, MA 1749 Full Service B&M $1,728
    Avidia Bank 221 Washington Street Hudson, MA 1749 Full Service B&M $59,933
    Avidia Bank 23 Maple Avenue Shrewsbury, MA 1545 Full Service B&M $48,327
    Avidia Bank 256 Maple Street Marlborough, MA 1752 Full Service B&M $77,768
    Avidia Bank 270 Cochituate Road Framingham, MA 1701 Full Service B&M $50,641
    Avidia Bank 42 Main Street Hudson, MA 1749 Full Service B&M $657,857
    Avidia Bank 470 Lancaster Street Leominster, MA 1453 Full Service B&M $44,247
    Avidia Bank 53 West Main Street Northborough, MA 1532 Full Service B&M $66,810
    Avidia Bank One Lyman Street Westborough, MA 1581 Full Service B&M $10,193

    For 2018, Avidia Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $67,489
    Net interest income $58,587
    Total noninterest income $11,432
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,053
    Trading account gains and fees $0
    Additional Noninterest Income $9,379
    Pre-tax net operating income $16,025
    Securities gains (or losses, -) $1,444
    Income before extraordinary items $13,011
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,011
    Minority interest net income $0
    Net income $13,011
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,870

    Avidia Bank's gross interest income from loans was $67,489,000.
    Avidia Bank's net interest income from loans was $58,587,000.
    Avidia Bank's fee based income from loans was $2,053,000.
    Avidia Bank's net income from loans was $13,011,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,902
    Provision for credit losses $3,700
    Total noninterest expense $50,294
    Salaries and employee benefits $24,848
    Premises and equipment expense $5,255
    Additional noninterest expense $20,191
    Applicable income taxes $4,458
    Net charge-offs $2,940
    Cash dividends $1,152

    Avidia Bank's interest expense for loans was $8,902,000.
    Avidia Bank's payroll and benefits expense were $24,848,000.
    Avidia Bank's property, plant and equipment expenses $5,255,000.

    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 1.0%
    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 $1,344,087
    Deposits held in domestic offices $1,344,087
    Deposits by Individuals, partnerships, and corporations $1,305,305
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $38,781
    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 $374,572
    Demand deposits $59,186
    Nontransaction accounts $969,514
    Money market deposit accounts (MMDAs) $331,429
    Other savings deposits (excluding MMDAs) $424,371
    Total time deposits $213,714
    Total time and savings deposits $1,284,900
    Noninterest-bearing deposits $59,186
    Interest-bearing deposits $1,284,901
    Retail deposits $1,029,374
    IRAs and Keogh plan accounts $30,090
    Brokered deposits $260,211
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,600,728
    Cash & Balances due from depository institutions $32,785
    Interest-bearing balances $19,537
    Total securities $253,785
    Federal funds sold & reverse repurchase $265
    Net loans and leases $1,224,196
    Loan and leases loss allowance $12,512
    Trading account assets $0
    Bank premises and fixed assets $18,604
    Other real estate owned $1,958
    Goodwill and other intangibles $15,316
    All other assets $53,819

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,600,727
    Total Liabilities $1,440,076
    Total deposits $1,344,087
    Interest-bearing deposits $1,284,901
    Deposits held in domestic offices $1,344,087
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $72,983
    Subordinated debt $0
    All other liabilities $23,006

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,224,196
    Loan and leases loss allowance $12,512
    Total loans and leases (domestic) $1,236,708
    All real estate loans $812,701
    Real estate loans in domestic offices $812,701
    Construction and development loans $50,922
    Residential 1-4 family construction $12,349
    Other construction, all land development and other land $38,573
    Loans secured by nonfarm nonresidential properties $321,011
    Nonfarm nonresidential secured by owner-occupied properties $172,152
    Commercial real estate & other non-farm, non-residential $148,859
    Multifamily residential real estate $28,779
    1-4 family residential loans $411,900
    Farmland loans $89
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $395,487
    To non-U.S. addressees $0
    Loans to individuals $11,394
    Credit card loans $2,745
    Related Plans $171
    Consumer Auto Loans $3,296
    Other loans to individuals $5,182
    All other loans & leases $17,125
    Loans to foreign governments and official institutions $0
    Other loans $779
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $86,072
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,343
    Non 1-4 family restructured loans & leases $2,647
    Total loans and leases (foreign) $0

    Avidia Bank had $1,224,196,000 of loans outstanding in 2018. $812,701,000 of loans were in real estate loans. $50,922,000 of loans were in development loans. $28,779,000 of loans were in multifamily mortgage loans. $411,900,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $2,745,000 of loans were in credit card loans. $3,296,000 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 425 $116,057 $273,075
    Nonfarm, nonresidential loans - <$100k 52 $1,609 $30,942
    Nonfarm, nonresidential loans - $100-250k 114 $15,338 $134,544
    Nonfarm, nonresidential loans - $250k-1MM 259 $99,110 $382,664
    Commercial & Industrial, US addressed loans - <$1MM 1,957 $176,780 $90,332
    Commercial & Industrial, US addressed loans - <$100k 1,200 $23,576 $19,647
    Commercial & Industrial, US addressed loans - $100-250k 375 $39,016 $104,043
    Commercial & Industrial, US addressed loans - $250k-1MM 382 $114,188 $298,921
    Farmland loans - <$1MM 1 $89 $89,000
    Farmland loans - $250k-1MM 1 $89 $89,000