North Brookfield Savings Bank Mortgage Rates, Fees & Info
North Brookfield, MALEI: 549300WN3VU197CXJH44
Tax ID: 04-1677290
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Mortgage Data
Review & Overview
North Brookfield Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. North Brookfield Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Springfield, Boston, and Providence among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)North Brookfield 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. North Brookfield Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.66% | 11/21/24 |
| 30 Year Conventional Refi | 6.00% | 11/21/24 |
| 30 Year Cash-out Refi | 6.03% | 11/21/24 |
| 15 Year Conventional Refi | 5.79% | 11/21/24 |
| 15 Year Cash-out Refi | 5.79% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
North Brookfield Savings Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
133Origination Dollar Volume (All Markets)
$34,025,000Top 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) | 95 | $26,235,000 | $276,158 | $0 | 3.83% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 31 | $5,635,000 | $181,774 | $0 | 3.93% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 5 | $1,645,000 | $329,000 | $0 | 3.80% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 4.38% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 133 | $34,025,000 | $255,827 | $0 | 3.86% |
For 2022, North Brookfield Savings Bank's most frequently originated type of loan was Conventional, with 133 originations.
Loan Reason
For 2022, North Brookfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.
Loan Duration/Length
For 2022, North Brookfield Savings Bank's most frequently cited loan duration was 30 Year, with 58 originations. The 2nd most popular length was 20 Year, with 33 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $275,000 | $275,000 |
North Brookfield Savings Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 53 | $11,115,000 | $209,717 |
| 3-4% | 45 | $15,645,000 | $347,667 |
| 2.5-3% | 21 | $3,665,000 | $174,524 |
| 5-6% | 9 | $2,245,000 | $249,444 |
| <2.5% | 5 | $1,355,000 | $271,000 |
During 2022, North Brookfield Savings Bank's average interest rate for loans was 4.02%, while their most frequently originated rate bucket for loans was 4-5%, with 53 originations.
Loan Sizing
2022 saw North Brookfield Savings Bank place emphasis on $200k-400k loans with 48 originations, totaling $12,500,000 in origination value.
Applicant Income
North Brookfield Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $50k-75k, with 29 originations.
Applicant Debt to Income Ratio
North Brookfield Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 24 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.78%
North Brookfield Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.20%
North Brookfield Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 133 | $34,025,000 | $255,827 |