Essex Savings Bank Mortgage Rates, Fees & Info
Essex, CTLEI: 549300TPAN1WJY46W431
Tax ID: 06-0336850
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Mortgage Data
Review & Overview
Essex Savings Bank is a smaller bank specializing in Home Purchase loans. Essex Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, Norwich, New Haven, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Essex 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
69Origination Dollar Volume (All Markets)
$19,065,000Top 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 |
|---|---|---|---|---|---|
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 37 | $9,535,000 | $257,703 | $0 | 0.00% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 20 | $4,960,000 | $248,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 11 | $4,365,000 | $396,818 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 69 | $19,065,000 | $276,304 | $0 | 0.00% |
For 2023, Essex Savings Bank's most frequently originated type of loan was Conventional, with 69 originations.
Loan Reason
For 2023, Essex Savings Bank's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Home Improvement, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 69 | $19,065,000 | $276,304 | $0 | 0.00% |
For 2023, Essex Savings Bank's most frequently cited loan duration was Other, with 69 originations.
Loan Sizing
2023 saw Essex Savings Bank place emphasis on $200k-400k loans with 29 originations, totaling $8,465,000 in origination value.
Applicant Income
Essex Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $250k+, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 69 | $19,065,000 | $276,304 | $0 | 0.00% |
Essex Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 69 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.91%
Essex Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.81%
Essex Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 69 | $19,065,000 | $276,304 |