Millbury Savings Bank Mortgage Rates, Fees & Info
MILLBURY, MALEI: 549300V6SMX4JRBWFA12
Tax ID: 04-1621370
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Mortgage Data
Review & Overview
Millbury Savings Bank is a smaller bank specializing in Home Purchase loans. Millbury Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Barnstable Town, Springfield, and Providence among others. We have data for 4 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.
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Originations
37Origination Dollar Volume (All Markets)
$12,535,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 34 | $8,350,000 | $245,588 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $4,005,000 | $4,005,000 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $12,535,000 | $338,784 | $0 | 0.00% |
For 2019, Millbury Savings Bank's most frequently originated type of loan was Conventional, with 37 originations.
Loan Reason
For 2019, Millbury Savings Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 37 | $12,535,000 | $338,784 | $0 | 0.00% |
For 2019, Millbury Savings Bank's most frequently cited loan duration was Other, with 37 originations.
Loan Sizing
2019 saw Millbury Savings Bank place emphasis on $200k-400k loans with 16 originations, totaling $4,570,000 in origination value.
Applicant Income
Millbury Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 37 | $12,535,000 | $338,784 | $0 | 0.00% |
Millbury Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.88%
Millbury Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination75.68%
Millbury Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 37 | $12,535,000 | $338,784 |