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

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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

    Avidia Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Avidia Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, Barnstable Town, and Manchester among others. We have data for 19 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 an above 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% 4/21/24
    30 Year Conventional Refi 6.48% 4/21/24
    30 Year Cash-out Refi 6.73% 4/21/24
    15 Year Conventional Purchase 6.23% 4/21/24
    15 Year Conventional Refi 5.90% 4/21/24
    15 Year Cash-out Refi 5.90% 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.

    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

    832

    Origination Dollar Volume (All Markets)

    $300,030,000

    Employee count

    251

    Awards

    Avidia Bank 30 Year Conventional Loans bronze Avidia Bank 30 Year Conventional Loans silver Avidia Bank 30 Year Conventional Loans gold Avidia Bank 30 Year Conventional Loans bronze
    Show all (4) 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) 396 $163,710,000 $413,409 $2,432 3.37%
    WORCESTER, MA-CT (FHA|USDA|VA) 348 $103,760,000 $298,161 $2,144 3.32%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 28 $12,920,000 $461,429 $2,736 3.71%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 18 $6,050,000 $336,111 $2,889 3.41%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 8 $3,480,000 $435,000 $1,762 3.16%
    Outside of Metro Areas 5 $2,545,000 $509,000 $3,346 3.23%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 5 $1,545,000 $309,000 $2,232 3.10%
    SPRINGFIELD, MA (FHA|USDA|VA) 6 $1,190,000 $198,333 $2,548 3.90%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 3 $765,000 $255,000 $0 4.25%
    Laconia, NH (FHA|USDA|VA) 1 $685,000 $685,000 $2,941 3.75%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $630,000 $315,000 $2,111 3.75%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $620,000 $310,000 $2,680 3.25%
    PITTSFIELD, MA (FHA|USDA|VA) 2 $590,000 $295,000 $2,395 2.94%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $505,000 $168,333 $2,200 3.29%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,280 3.75%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $275,000 $275,000 $2,668 3.00%
    Torrington, CT (FHA|USDA|VA) 1 $205,000 $205,000 $2,977 3.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,753 4.25%
    Keene, NH (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.75%
    Avidia Bank's top markets include Boston, Worcester, Providence, Barnstable Town, and Manchester among others.

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

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Triangle Credit Union
    Similarity Rank: 696
    CorePlus Federal Credit Union
    Similarity Rank: 710
    NEW HAMPSHIRE
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 832 $300,030,000 $360,613 $2,333 3.37%

    For 2020, Avidia Bank's most frequently originated type of loan was Conventional, with 832 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 441 $138,735,000 $314,592 $1,914 3.12%
    Home Purchase 197 $88,275,000 $448,096 $3,441 3.77%
    Cash Out Refi 185 $70,945,000 $383,486 $2,478 3.49%
    Other 5 $605,000 $121,000 $1,070 4.55%
    Home Improvement 4 $1,470,000 $367,500 $1,197 4.16%

    For 2020, Avidia Bank's most frequently cited loan purpose was Refi, with 441 originations. The 2nd most popular reason was Home Purchase, with 197 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 496 $191,250,000 $385,585 $2,610 3.50%
    15 Year 178 $54,100,000 $303,933 $2,107 2.81%
    20 Year 77 $27,635,000 $358,896 $1,973 3.39%
    Other 54 $19,600,000 $362,963 $1,344 3.91%
    10 Year 24 $7,070,000 $294,583 $1,606 3.24%
    1 Year 2 $350,000 $175,000 $0 5.38%
    5 Year 1 $25,000 $25,000 $415 5.13%

    For 2020, Avidia Bank's most frequently cited loan duration was 30 Year, with 496 originations. The 2nd most popular length was 15 Year, with 178 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 683 $242,275,000 $354,722
    $5k+ 5 $6,125,000 $1,225,000
    $1k-2k 3 $995,000 $331,667
    $2k-3k 3 $1,225,000 $408,333
    $4k-5k 2 $2,480,000 $1,240,000
    $3k-4k 1 $325,000 $325,000

    Avidia Bank's average total fees were $2,610, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 683 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 396 $167,030,000 $421,793
    2.5-3% 233 $70,655,000 $303,240
    <2.5% 95 $25,075,000 $263,947
    4-5% 89 $31,545,000 $354,438
    5-6% 11 $5,345,000 $485,909
    6-7% 8 $380,000 $47,500

    During 2020, Avidia Bank's average interest rate for loans was 3.50%, while their most frequently originated rate bucket for loans was 3-4%, with 396 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 415 $120,415,000 $290,157 $2,082 3.26%
    $100k-200k 162 $25,540,000 $157,654 $1,945 3.30%
    $400k-600k 152 $72,480,000 $476,842 $2,586 3.35%
    $600k-1MM 59 $45,495,000 $771,102 $3,454 3.71%
    $100,000 or less 24 $1,590,000 $66,250 $826 4.45%
    $1MM+ 20 $34,510,000 $1,725,500 $7,640 3.84%

    2020 saw Avidia Bank place emphasis on $200k-400k loans with 415 originations, totaling $120,415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 230 $70,180,000 $305,130 $2,066 3.32%
    $150k-250k 216 $78,700,000 $364,352 $2,334 3.33%
    $250k+ 145 $88,055,000 $607,276 $3,403 3.56%
    $75k-100k 103 $25,135,000 $244,029 $2,036 3.26%
    $50k-75k 83 $17,595,000 $211,988 $2,082 3.19%
    $50k or less 26 $4,350,000 $167,308 $1,989 3.15%

    Avidia Bank lent most frequently to those with incomes in the $100k-150k range, with 230 originations. The second most popular income band? $150k-250k, with 216 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 216 $71,310,000 $330,139 $2,208 3.28%
    30-36% 138 $50,170,000 $363,551 $2,300 3.20%
    <20% 97 $31,295,000 $322,629 $2,114 3.14%
    37% 34 $12,670,000 $372,647 $2,550 3.25%
    41% 31 $10,725,000 $345,968 $2,258 3.38%
    38% 28 $10,910,000 $389,643 $2,229 3.43%
    42% 27 $9,375,000 $347,222 $2,485 3.70%
    50-60% 26 $11,410,000 $438,846 $2,967 3.85%
    39% 25 $8,925,000 $357,000 $2,139 3.34%
    44% 24 $7,940,000 $330,833 $2,177 3.52%
    45% 23 $11,175,000 $485,870 $3,184 3.18%
    43% 23 $10,525,000 $457,609 $3,186 3.45%
    40% 22 $7,500,000 $340,909 $2,418 3.61%
    47% 22 $7,300,000 $331,818 $2,151 3.62%
    49% 19 $6,125,000 $322,368 $2,588 3.82%
    48% 18 $5,290,000 $293,889 $2,134 3.51%
    36% 17 $5,215,000 $306,765 $2,155 3.26%
    46% 15 $6,605,000 $440,333 $2,703 3.25%
    >60% 2 $590,000 $295,000 $2,273 3.69%

    Avidia Bank lent most frequently to those with DTI ratios of 20-30%, with 216 originations. The next most common DTI ratio? 30-36%, with 138 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 542 $184,210,000 $339,871 $2,361 3.34%
    Asian 143 $51,315,000 $358,846 $1,951 3.27%
    Not provided 115 $47,305,000 $411,348 $2,696 3.44%
    Not applicable 23 $14,205,000 $617,609 $0 4.37%
    Black 5 $1,745,000 $349,000 $1,869 3.08%
    Asian Indian 4 $1,250,000 $312,500 $1,949 3.34%

    Approval Rates

    Total approvals of all applications
    96.59%

    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
    93.51%

    Avidia Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 832 $300,030,000 $360,613

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 15 $9,485,000 $632,333
    Single Family (1-4 Units):Site-Built 817 $290,545,000 $355,624

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 90 $22,050,000 $245,000 $2,080 3.01%
    40-60% 228 $69,640,000 $305,439 $2,054 3.03%
    60-80% 381 $153,795,000 $403,661 $2,442 3.50%
    80-100% 112 $49,840,000 $445,000 $3,058 3.61%
    Under 20% 21 $4,705,000 $224,048 $824 4.89%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Avidia Bank 100 East Main Street Westborough, MA 1581 Full Service B&M $256,076
    Avidia Bank 1073 Main Street Clinton, MA 1510 Full Service B&M $116,765
    Avidia Bank 17 Pope Street Hudson, MA 1749 Full Service B&M $95
    Avidia Bank 221 Washington Street Hudson, MA 1749 Full Service B&M $72,553
    Avidia Bank 23 Maple Avenue Shrewsbury, MA 1545 Full Service B&M $60,050
    Avidia Bank 256 Maple Street Marlborough, MA 1752 Full Service B&M $87,234
    Avidia Bank 270 Cochituate Road Framingham, MA 1701 Full Service B&M $40,831
    Avidia Bank 42 Main Street Hudson, MA 1749 Full Service B&M $987,190
    Avidia Bank 470 Lancaster Street Leominster, MA 1453 Full Service B&M $79,819
    Avidia Bank 53 West Main Street Northborough, MA 1532 Full Service B&M $79,977

    For 2020, Avidia Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $72,555
    Net interest income $64,910
    Total noninterest income $17,762
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,242
    Trading account gains and fees $0
    Additional Noninterest Income $15,520
    Pre-tax net operating income $13,280
    Securities gains (or losses, -) $3,291
    Income before extraordinary items $12,843
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,843
    Minority interest net income $0
    Net income $12,843
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,243

    Avidia Bank's gross interest income from loans was $72,555,000.
    Avidia Bank's net interest income from loans was $64,910,000.
    Avidia Bank's fee based income from loans was $2,242,000.
    Avidia Bank's net income from loans was $12,843,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,645
    Provision for credit losses $5,900
    Total noninterest expense $63,492
    Salaries and employee benefits $28,403
    Premises and equipment expense $5,980
    Additional noninterest expense $29,109
    Applicable income taxes $3,728
    Net charge-offs $1,588
    Cash dividends $1,155

    Avidia Bank's interest expense for loans was $7,645,000.
    Avidia Bank's payroll and benefits expense were $28,403,000.
    Avidia Bank's property, plant and equipment expenses $5,980,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    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 $1,778,155
    Deposits held in domestic offices $1,778,155
    Deposits by Individuals, partnerships, and corporations $1,741,029
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $37,127
    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 $1,566,873
    Demand deposits $798,588
    Nontransaction accounts $211,283
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $0
    Total time deposits $211,281
    Total time and savings deposits $979,568
    Noninterest-bearing deposits $798,588
    Interest-bearing deposits $979,567
    Retail deposits $1,286,758
    IRAs and Keogh plan accounts $38,052
    Brokered deposits $423,712
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,023,820
    Cash & Balances due from depository institutions $81,498
    Interest-bearing balances $64,249
    Total securities $303,085
    Federal funds sold & reverse repurchase $24,054
    Net loans and leases $1,525,172
    Loan and leases loss allowance $16,652
    Trading account assets $962
    Bank premises and fixed assets $20,806
    Other real estate owned $0
    Goodwill and other intangibles $14,292
    All other assets $53,951

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,023,820
    Total Liabilities $1,831,708
    Total deposits $1,778,155
    Interest-bearing deposits $979,567
    Deposits held in domestic offices $1,778,155
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $962
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $32,591

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,525,172
    Loan and leases loss allowance $16,652
    Total loans and leases (domestic) $1,541,824
    All real estate loans $887,732
    Real estate loans in domestic offices $887,732
    Construction and development loans $73,014
    Residential 1-4 family construction $10,173
    Other construction, all land development and other land $62,841
    Loans secured by nonfarm nonresidential properties $371,206
    Nonfarm nonresidential secured by owner-occupied properties $209,128
    Commercial real estate & other non-farm, non-residential $162,078
    Multifamily residential real estate $33,155
    1-4 family residential loans $410,288
    Farmland loans $69
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $633,947
    To non-U.S. addressees $0
    Loans to individuals $10,527
    Credit card loans $2,806
    Related Plans $112
    Consumer Auto Loans $2,599
    Other loans to individuals $5,010
    All other loans & leases $9,618
    Loans to foreign governments and official institutions $0
    Other loans $478
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $146,533
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,925
    Non 1-4 family restructured loans & leases $856
    Total loans and leases (foreign) $0

    Avidia Bank had $1,525,172,000 of loans outstanding in 2020. $887,732,000 of loans were in real estate loans. $73,014,000 of loans were in development loans. $33,155,000 of loans were in multifamily mortgage loans. $410,288,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $2,806,000 of loans were in credit card loans. $2,599,000 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 424 $116,867 $275,630
    Nonfarm, nonresidential loans - <$100k 59 $1,606 $27,220
    Nonfarm, nonresidential loans - $100-250k 104 $13,296 $127,846
    Nonfarm, nonresidential loans - $250k-1MM 261 $101,965 $390,670
    Commercial & Industrial, US addressed loans - <$1MM 3,239 $264,620 $81,698
    Commercial & Industrial, US addressed loans - <$100k 2,193 $50,982 $23,248
    Commercial & Industrial, US addressed loans - $100-250k 543 $57,017 $105,004
    Commercial & Industrial, US addressed loans - $250k-1MM 503 $156,621 $311,374
    Farmland loans - <$1MM 1 $69 $69,000
    Farmland loans - $250k-1MM 1 $69 $69,000