Envision Bank Mortgage Rates, Fees & Info

Randolph, MA

LEI: 549300UCNB01VMT4GV61

Tax ID: 74-3073286

5 stars - out of 5 stars, based on 62 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Envision Bank is a small bank specializing in Refi and Home Purchase loans. Envision Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Boston, Providence, Worcester, Barnstable Town, and Manchester among others. Envision Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Envision Bank is typically an average fee lendor.


Originations

3,857

Origination Dollar Volume (All Markets)

$1,455,845,000

Employee count

183 Show all (13) awards

Relative Rate

Envision Bank's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Envision Bank's average total fees for a 30 year fixed rate mortgage are $3,649.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2,262 $937,120,000 $414,288 $3,283 2.98%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 861 $277,075,000 $321,806 $3,571 3.00%
WORCESTER, MA-CT (FHA|USDA|VA) 311 $106,465,000 $342,331 $3,082 3.04%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 120 $45,400,000 $378,333 $3,261 2.97%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 63 $17,375,000 $275,794 $3,317 2.97%
SPRINGFIELD, MA (FHA|USDA|VA) 61 $13,535,000 $221,885 $3,467 2.98%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 34 $9,050,000 $266,176 $2,802 2.99%
Outside of Metro Areas 19 $7,725,000 $406,579 $3,266 3.07%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 12 $7,660,000 $638,333 $3,838 2.94%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 16 $6,660,000 $416,250 $3,264 2.98%
Laconia, NH (FHA|USDA|VA) 12 $4,300,000 $358,333 $2,464 3.06%
Concord, NH (FHA|USDA|VA) 13 $3,375,000 $259,615 $2,460 3.05%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $2,980,000 $372,500 $6,118 2.88%
Lebanon, NH-VT (FHA|USDA|VA) 14 $2,780,000 $198,571 $2,725 3.24%
Vineyard Haven, MA (FHA|USDA|VA) 3 $2,125,000 $708,333 $3,219 2.83%
Keene, NH (FHA|USDA|VA) 10 $2,120,000 $212,000 $2,511 3.06%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 5 $1,635,000 $327,000 $2,714 2.98%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 4 $1,360,000 $340,000 $2,471 2.78%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,130,000 $282,500 $3,791 3.44%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $730,000 $182,500 $3,330 2.78%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $720,000 $360,000 $5,018 3.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $715,000 $238,333 $3,515 2.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $605,000 $201,667 $4,144 2.96%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $560,000 $280,000 $3,470 3.25%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $445,000 $445,000 $3,080 3.25%
GAINESVILLE, FL (FHA|USDA|VA) 2 $310,000 $155,000 $0 3.75%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,834 3.38%
PITTSFIELD, MA (FHA|USDA|VA) 1 $295,000 $295,000 $0 3.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.50%
Bennington, VT (FHA|USDA|VA) 1 $255,000 $255,000 $2,964 2.75%
Torrington, CT (FHA|USDA|VA) 1 $245,000 $245,000 $2,030 3.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,802 3.00%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $155,000 $155,000 $2,284 2.63%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,660 3.00%

Envision Bank's top markets include Boston, Providence, Worcester, Barnstable Town, and Manchester among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 3,627 $1,366,625,000 $376,792 $2,978 3.01%
FHA 170 $66,020,000 $388,353 $9,558 2.77%
VA 54 $21,380,000 $395,926 $6,480 2.62%
USDA 6 $1,820,000 $303,333 $6,348 2.58%

For the 2021 period, Envision Bank's most frequently originated loan type of loans were Conventional, with 3,627 originations. Their 2nd most popular type is FHA, with 170 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 1,845 $664,285,000 $360,046 $2,670 2.86%
Home Purchase 1,202 $515,120,000 $428,552 $4,577 3.05%
Cash Out Refi 775 $264,105,000 $340,781 $3,057 3.21%
Other 32 $11,490,000 $359,063 $2,890 3.16%
Home Improvement 3 $845,000 $281,667 $2,583 3.21%

For the 2021, Envision Bank's most frequently cited loan purpose of loans were Refi, with 1,845 originations. The 2nd most popular reason of loans were Home Purchase, with 1,202 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,760 $1,105,010,000 $400,366 $3,649 3.11%
15 Year 575 $162,155,000 $282,009 $2,447 2.53%
20 Year 324 $105,830,000 $326,636 $2,493 2.87%
Other 98 $47,010,000 $479,694 $2,937 2.99%
10 Year 86 $27,260,000 $316,977 $2,279 2.63%
30+ year 10 $5,220,000 $522,000 $5,704 3.74%
1 Year 2 $1,360,000 $680,000 $6,356 4.00%
5 Year 2 $2,000,000 $1,000,000 $0 3.88%

For the 2021, Envision Bank's most frequently cited loan length of loans were 30 Year, with 2,760 originations. The 2nd most popular length of loans were 15 Year, with 575 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 3,327 $1,249,085,000 $375,439
$1k-2k 74 $18,600,000 $251,351
$3k-4k 48 $20,320,000 $423,333
$2k-3k 44 $16,120,000 $366,364
$5k+ 20 $12,650,000 $632,500

$3,649 of loans were Envision Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 3,327 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,903 $730,635,000 $383,939
3-4% 1,333 $515,725,000 $386,890
<2.5% 538 $166,490,000 $309,461
4-5% 82 $42,710,000 $520,854
5-6% 1 $285,000 $285,000

During 2021, Envision Bank's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,903 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,948 $582,950,000 $299,256 $3,057 2.99%
$400k-600k 1,002 $482,960,000 $481,996 $3,747 3.01%
$100k-200k 501 $79,175,000 $158,034 $2,532 2.94%
$600k-1MM 281 $205,065,000 $729,769 $4,717 3.07%
$1MM+ 71 $101,975,000 $1,436,268 $5,989 3.16%
$100,000 or less 54 $3,720,000 $68,889 $1,869 2.57%

2021 saw Envision Bank place emphasis on $200k-400k loans with 1,948 originations, totaling $582,950,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 1,035 $377,685,000 $364,913 $3,174 2.99%
$150k-250k 912 $384,840,000 $421,974 $3,194 3.01%
$75k-100k 650 $199,610,000 $307,092 $3,321 2.99%
$50k-75k 589 $152,865,000 $259,533 $3,580 3.01%
$250k+ 465 $275,175,000 $591,774 $3,537 2.95%
$50k or less 154 $26,720,000 $173,506 $2,799 2.99%

Envision Bank lent most frequently to those with incomes in the $100k-150k range, with 1,035 originations. The second most popular income band? $150k-250k, with 912 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 942 $358,570,000 $380,648 $2,889 2.94%
30-36% 748 $281,770,000 $376,698 $3,131 3.01%
<20% 308 $115,470,000 $374,903 $2,690 2.85%
44% 169 $61,335,000 $362,929 $3,810 3.06%
43% 150 $51,360,000 $342,400 $3,622 3.11%
37% 145 $53,295,000 $367,552 $3,209 3.00%
42% 143 $53,345,000 $373,042 $3,409 3.07%
38% 139 $50,275,000 $361,691 $3,224 3.01%
40% 138 $47,990,000 $347,754 $3,447 3.12%
41% 131 $55,425,000 $423,092 $3,606 3.03%
45% 130 $47,330,000 $364,077 $3,657 3.02%
36% 123 $45,085,000 $366,545 $3,246 3.00%
39% 115 $43,045,000 $374,304 $3,215 3.10%
47% 97 $33,405,000 $344,381 $3,984 2.94%
49% 94 $33,290,000 $354,149 $4,225 3.03%
48% 82 $28,890,000 $352,317 $3,591 3.03%
46% 77 $26,395,000 $342,792 $3,252 3.04%
50-60% 67 $28,485,000 $425,149 $8,237 2.87%
>60% 3 $1,105,000 $368,333 $3,494 3.04%

Envision Bank lent most frequently to those with DTI ratios of 20-30%, with 942 originations. The next most common DTI ratio? 30-36%, with 748 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 3,025 $1,110,225,000 $367,017 $3,204 2.99%
Not provided 328 $128,400,000 $391,463 $3,696 3.02%
Asian 254 $105,700,000 $416,142 $3,123 2.94%
Black 209 $73,405,000 $351,220 $4,840 3.02%
Not applicable 15 $26,425,000 $1,761,667 $0 3.78%
Asian Indian 13 $6,055,000 $465,769 $3,113 2.90%
Chinese 5 $2,645,000 $529,000 $2,343 3.55%
American Indian 5 $1,955,000 $391,000 $4,245 3.00%
Native Hawaiian 1 $655,000 $655,000 $8,494 3.63%
Vietnamese 1 $215,000 $215,000 $2,560 3.00%
Other Pacific Islander 1 $165,000 $165,000 $2,385 2.50%

Approval Rates

Total approvals of all applications
96.26%

Envision 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
87.48%

Envision Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,857 $1,455,845,000 $377,455

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,857 $1,455,845,000 $377,455

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 439 $119,235,000 $271,606 $2,531 2.78%
40-60% 1,168 $409,500,000 $350,599 $2,637 2.89%
60-80% 1,430 $603,160,000 $421,790 $3,178 3.15%
80-100% 761 $312,685,000 $410,887 $4,986 3.00%
Over 100% 7 $3,745,000 $535,000 $16,377 2.66%
Under 20% 52 $7,520,000 $144,615 $2,058 2.62%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Envision Bank 87 Sharon Street Stoughton, MA 2072 Full Service B&M $66,435
Envision Bank 129 N Main St Randolph, MA 2368 Full Service B&M $265,690
Envision Bank 497 Washington Street Stoughton, MA 2072 Full Service B&M $115,107
Envision Bank 50 South Franklin Street Holbrook, MA 2343 Full Service B&M $64,581
Envision Bank One Rockdale Street Braintree, MA 2184 Full Service B&M $71,884

For 2021, Envision Bank had 5 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $24,112
Net interest income $21,959
Total noninterest income $31,924
Gross Fiduciary activities income $0
Service charges on deposit accounts $580
Trading account gains and fees $0
Additional Noninterest Income $31,344
Pre-tax net operating income $12,724
Securities gains (or losses, -) $0
Income before extraordinary items $9,649
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $9,649
Minority interest net income $0
Net income $9,649
Sale, conversion, retirement of capital stock, net $1,595
Net operating income $9,649

Envision Bank's gross interest income from loans was $24,112,000.
Envision Bank's net interest income from loans was $21,959,000.
Envision Bank's fee based income from loans was $580,000.
Envision Bank's net income from loans was $9,649,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,153
Provision for credit losses $-438
Total noninterest expense $41,597
Salaries and employee benefits $28,173
Premises and equipment expense $2,791
Additional noninterest expense $10,633
Applicable income taxes $3,075
Net charge-offs $57
Cash dividends $8,000

Envision Bank's interest expense for loans was $2,153,000.
Envision Bank's payroll and benefits expense were $28,173,000.
Envision Bank's property, plant and equipment expenses $2,791,000.

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 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 $643,936
Deposits held in domestic offices $643,936
Deposits by Individuals, partnerships, and corporations $585,224
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $28,957
Deposits by Commercial banks and other depository institutions in U.S. $29,755
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $206,157
Demand deposits $148,020
Nontransaction accounts $437,779
Money market deposit accounts (MMDAs) $97,761
Other savings deposits (excluding MMDAs) $191,712
Total time deposits $148,307
Total time and savings deposits $495,916
Noninterest-bearing deposits $149,326
Interest-bearing deposits $494,610
Retail deposits $573,573
IRAs and Keogh plan accounts $18,212
Brokered deposits $50,117
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $802,743
Cash & Balances due from depository institutions $115,490
Interest-bearing balances $111,948
Total securities $51,666
Federal funds sold & reverse repurchase $0
Net loans and leases $589,387
Loan and leases loss allowance $6,289
Trading account assets $0
Bank premises and fixed assets $9,490
Other real estate owned $0
Goodwill and other intangibles $15,640
All other assets $21,070

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $802,743
Total Liabilities $709,618
Total deposits $643,936
Interest-bearing deposits $494,610
Deposits held in domestic offices $643,936
% insured (estimated) $76
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $53,895
Subordinated debt $0
All other liabilities $11,787

Issued Loan Types

Type Value (in 000's)
Net loans and leases $589,387
Loan and leases loss allowance $6,289
Total loans and leases (domestic) $595,676
All real estate loans $570,794
Real estate loans in domestic offices $570,794
Construction and development loans $33,965
Residential 1-4 family construction $22,396
Other construction, all land development and other land $11,569
Loans secured by nonfarm nonresidential properties $129,790
Nonfarm nonresidential secured by owner-occupied properties $30,864
Commercial real estate & other non-farm, non-residential $98,926
Multifamily residential real estate $30,794
1-4 family residential loans $376,245
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $6,492
To non-U.S. addressees $0
Loans to individuals $7,616
Credit card loans $0
Related Plans $44
Consumer Auto Loans $4,745
Other loans to individuals $2,827
All other loans & leases $10,774
Loans to foreign governments and official institutions $0
Other loans $10,774
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,201
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Envision Bank had $589,387,000 of loans outstanding in 2021. $570,794,000 of loans were in real estate loans. $33,965,000 of loans were in development loans. $30,794,000 of loans were in multifamily mortgage loans. $376,245,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,745,000 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 77 $34,128 $443,221
Nonfarm, nonresidential loans - <$100k 7 $506 $72,286
Nonfarm, nonresidential loans - $100-250k 11 $2,239 $203,545
Nonfarm, nonresidential loans - $250k-1MM 59 $31,383 $531,915
Commercial & Industrial, US addressed loans - <$1MM 69 $5,486 $79,507
Commercial & Industrial, US addressed loans - <$100k 45 $694 $15,422
Commercial & Industrial, US addressed loans - $100-250k 16 $1,430 $89,375
Commercial & Industrial, US addressed loans - $250k-1MM 8 $3,362 $420,250