Millbury Savings Bank Mortgage Rates, Fees & Info

MILLBURY, MA

LEI: 549300V6SMX4JRBWFA12

Tax ID: 04-1621370

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Millbury Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Millbury Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Springfield, and Barnstable Town among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Millbury 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.

    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.

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    Originations

    78

    Origination Dollar Volume (All Markets)

    $18,660,000

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 69 $15,875,000 $230,072 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $1,370,000 $342,500 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $575,000 $191,667 $0 0.00%
    Outside of Metro Areas 1 $515,000 $515,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    Millbury Savings Bank's top markets include Worcester, Boston, Springfield, and Barnstable Town among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 78 $18,660,000 $239,231 $0 0.00%

    For 2018, Millbury Savings Bank's most frequently originated type of loan was Conventional, with 78 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 39 $10,715,000 $274,744 $0 0.00%
    Cash Out Refi 25 $5,075,000 $203,000 $0 0.00%
    Refi 11 $2,605,000 $236,818 $0 0.00%
    Other 2 $110,000 $55,000 $0 0.00%
    Home Improvement 1 $155,000 $155,000 $0 0.00%

    For 2018, Millbury Savings Bank's most frequently cited loan purpose was Home Purchase, with 39 originations. The 2nd most popular reason was Cash Out Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 78 $18,660,000 $239,231 $0 0.00%

    For 2018, Millbury Savings Bank's most frequently cited loan duration was Other, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 36 $10,170,000 $282,500 $0 0.00%
    $100k-200k 28 $4,240,000 $151,429 $0 0.00%
    $100,000 or less 7 $405,000 $57,857 $0 0.00%
    $400k-600k 5 $2,295,000 $459,000 $0 0.00%
    $600k-1MM 2 $1,550,000 $775,000 $0 0.00%

    2018 saw Millbury Savings Bank place emphasis on $200k-400k loans with 36 originations, totaling $10,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 15 $4,285,000 $285,667 $0 0.00%
    $50k-75k 11 $1,615,000 $146,818 $0 0.00%
    $100k-150k 9 $2,635,000 $292,778 $0 0.00%
    $250k+ 7 $1,995,000 $285,000 $0 0.00%
    $75k-100k 7 $1,565,000 $223,571 $0 0.00%
    $50k or less 5 $685,000 $137,000 $0 0.00%

    Millbury Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 15 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 78 $18,660,000 $239,231 $0 0.00%

    Millbury Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $11,750,000 $244,792 $0 0.00%
    Not applicable 22 $5,440,000 $247,273 $0 0.00%
    Not provided 7 $1,275,000 $182,143 $0 0.00%
    Asian 1 $195,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.57%

    Millbury Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.49%

    Millbury Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 78 $18,660,000 $239,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $2,715,000 $387,857
    Single Family (1-4 Units):Site-Built 71 $15,945,000 $224,577

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MLB Residential Lending, LLC FHA mortgage Closing on a mortgage 1 100.0%