Webster Five Cents Savings Bank Mortgage Rates, Fees & Info

Webster, MA

LEI: 549300YOEBGKPKU43Q28

Tax ID: 04-1953630

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Webster Five Cents Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Webster Five Cents Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Providence, Springfield, and Bridgeport among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Webster Five Cents Savings Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Webster Five Cents 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.01% 11/21/24
    30 Year Conventional Refi 6.30% 11/21/24
    30 Year Cash-out Refi 6.52% 11/21/24
    15 Year Conventional Purchase 5.46% 11/21/24
    15 Year Conventional Refi 6.02% 11/21/24
    15 Year Cash-out Refi 6.02% 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.

    Webster Five Cents Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Webster Five Cents Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    195

    Origination Dollar Volume (All Markets)

    $87,685,000

    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) 166 $62,100,000 $374,096 $3,151 4.64%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 21 $23,475,000 $1,117,857 $3,675 4.86%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $990,000 $247,500 $4,001 5.08%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $365,000 $365,000 $3,451 5.00%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $345,000 $345,000 $0 3.50%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $295,000 $295,000 $4,178 5.38%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $115,000 $115,000 $167 6.00%
    Webster Five Cents Savings Bank's top markets include Worcester, Boston, Providence, Springfield, and Bridgeport among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Webster Five Cents Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Charter Oak Federal Credit Union
    Similarity Rank: 42
    QUINCY CREDIT UNION
    Similarity Rank: 50
    HOMEFIELD
    Similarity Rank: 72
    Direct Federal Credit Union
    Similarity Rank: 115
    IC Federal Credit Union
    Similarity Rank: 144
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    ALIGN CREDIT UNION
    Similarity Rank: 200
    Piscataqua Savings Bank
    Similarity Rank: 200
    ATHOL CREDIT UNION
    Similarity Rank: 264
    Middlesex Savings Bank
    Similarity Rank: 315

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 195 $87,685,000 $449,667 $3,208 4.68%

    For 2022, Webster Five Cents Savings Bank's most frequently originated type of loan was Conventional, with 195 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 98 $55,730,000 $568,673 $4,592 4.72%
    Cash Out Refi 37 $8,955,000 $242,027 $2,571 4.29%
    Refi 27 $20,345,000 $753,519 $2,567 4.26%
    Home Improvement 22 $1,880,000 $85,455 $574 5.32%
    Other 11 $775,000 $70,455 $493 5.39%

    For 2022, Webster Five Cents Savings Bank's most frequently cited loan purpose was Home Purchase, with 98 originations. The 2nd most popular reason was Cash Out Refi, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 129 $54,295,000 $420,891 $4,094 4.49%
    20 Year 19 $3,025,000 $159,211 $652 5.57%
    15 Year 18 $3,960,000 $220,000 $2,064 4.41%
    10 Year 11 $13,705,000 $1,245,909 $406 5.32%
    Other 8 $1,890,000 $236,250 $5,792 5.56%
    5 Year 7 $9,295,000 $1,327,857 $152 4.26%
    30+ year 3 $1,515,000 $505,000 $5,423 4.88%

    For 2022, Webster Five Cents Savings Bank's most frequently cited loan duration was 30 Year, with 129 originations. The 2nd most popular length was 20 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 119 $36,545,000 $307,101
    $1k-2k 42 $14,530,000 $345,952
    $2k-3k 3 $1,025,000 $341,667
    $3k-4k 3 $1,125,000 $375,000
    $5k+ 1 $1,135,000 $1,135,000

    Webster Five Cents Savings Bank's average total fees were $4,094, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 119 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 73 $46,685,000 $639,521
    5-6% 50 $11,350,000 $227,000
    3-4% 45 $18,025,000 $400,556
    6-7% 15 $4,355,000 $290,333
    2.5-3% 11 $7,025,000 $638,636
    <2.5% 1 $245,000 $245,000

    During 2022, Webster Five Cents Savings Bank's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 63 $18,765,000 $297,857 $3,609 4.61%
    $100k-200k 41 $6,045,000 $147,439 $2,223 4.66%
    $100,000 or less 37 $1,975,000 $53,378 $690 5.18%
    $400k-600k 30 $14,320,000 $477,333 $4,153 4.49%
    $600k-1MM 15 $10,485,000 $699,000 $5,666 4.54%
    $1MM+ 9 $36,095,000 $4,010,556 $9,509 4.11%

    2022 saw Webster Five Cents Savings Bank place emphasis on $200k-400k loans with 63 originations, totaling $18,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $11,750,000 $255,435 $3,149 4.89%
    $150k-250k 46 $16,490,000 $358,478 $3,076 4.44%
    $75k-100k 31 $6,625,000 $213,710 $2,553 4.74%
    $50k-75k 23 $3,895,000 $169,348 $2,737 4.41%
    $250k+ 22 $16,250,000 $738,636 $5,124 4.87%
    $50k or less 11 $1,645,000 $149,545 $2,675 4.52%

    Webster Five Cents Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $150k-250k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 48 $12,930,000 $269,375 $2,950 4.52%
    30-36% 39 $16,935,000 $434,231 $3,682 4.59%
    <20% 16 $5,020,000 $313,750 $3,398 4.43%
    44% 9 $1,465,000 $162,778 $1,706 4.97%
    37% 9 $3,045,000 $338,333 $3,100 4.37%
    49% 8 $3,250,000 $406,250 $4,011 4.98%
    36% 7 $1,865,000 $266,429 $3,057 4.73%
    42% 7 $2,305,000 $329,286 $1,902 5.32%
    38% 7 $1,255,000 $179,286 $1,913 5.33%
    40% 6 $1,400,000 $233,333 $2,200 4.91%
    39% 5 $1,465,000 $293,000 $5,486 5.30%
    41% 5 $2,045,000 $409,000 $3,603 4.90%
    46% 4 $1,040,000 $260,000 $3,238 4.00%
    43% 4 $890,000 $222,500 $2,312 4.78%
    45% 4 $1,030,000 $257,500 $2,224 3.72%
    47% 3 $885,000 $295,000 $3,544 4.96%
    48% 1 $615,000 $615,000 $19,261 4.63%

    Webster Five Cents Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 48 originations. The next most common DTI ratio? 30-36%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 150 $48,240,000 $321,600 $3,161 4.58%
    Not applicable 11 $29,915,000 $2,719,545 $0 5.02%
    Not provided 22 $5,840,000 $265,455 $2,809 5.05%
    Asian 3 $1,375,000 $458,333 $9,110 4.92%
    Black 4 $770,000 $192,500 $1,505 4.62%
    Native Hawaiian or Islander 2 $670,000 $335,000 $3,441 5.75%
    Vietnamese 1 $525,000 $525,000 $4,119 3.50%
    Asian Indian 1 $295,000 $295,000 $4,178 5.38%
    American Indian 1 $55,000 $55,000 $152 5.24%

    Approval Rates

    Total approvals of all applications
    86.24%

    Webster Five Cents Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.87%

    Webster Five Cents Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 195 $87,685,000 $449,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    195 $87,685,000 $449,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,625,000 $125,000 $1,671 5.01%
    40-60% 25 $9,955,000 $398,200 $3,298 4.20%
    60-80% 63 $35,435,000 $562,460 $4,185 4.35%
    80-100% 53 $24,905,000 $469,906 $4,568 4.71%
    Under 20% 33 $14,765,000 $447,424 $321 5.42%