Colonial Federal Savings Bank Mortgage Rates, Fees & Info
Quincy, MALEI: 549300THVVYXNYVCMC50
Tax ID: 04-1983105
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Mortgage Data
Review & Overview
Colonial Federal Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Colonial Federal Savings Bank has a high proportion of conventional loans. Their top two markets are Boston and Barnstable Town .Colonial Federal Savings 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.
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Originations
80Origination Dollar Volume (All Markets)
$32,410,000Top 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) | 76 | $31,180,000 | $410,263 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 4 | $1,230,000 | $307,500 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 80 | $32,410,000 | $405,125 | $0 | 0.00% |
For 2022, Colonial Federal Savings Bank's most frequently originated type of loan was Conventional, with 80 originations.
Loan Reason
For 2022, Colonial Federal Savings Bank's most frequently cited loan purpose was Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 80 | $32,410,000 | $405,125 | $0 | 0.00% |
For 2022, Colonial Federal Savings Bank's most frequently cited loan duration was Other, with 80 originations.
Loan Sizing
2022 saw Colonial Federal Savings Bank place emphasis on $400k-600k loans with 21 originations, totaling $10,475,000 in origination value.
Applicant Income
Colonial Federal Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 27 originations. The second most popular income band? $250k+, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 80 | $32,410,000 | $405,125 | $0 | 0.00% |
Colonial Federal Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 80 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.59%
Colonial Federal Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.50%
Colonial Federal Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 80 | $32,410,000 | $405,125 |