Webster Five Cents Savings Bank Mortgage Rates, Fees & Info

Webster, MA

LEI: 549300YOEBGKPKU43Q28

Tax ID: 04-1953630

Latest/2024 | 2023 Data | 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
  • 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 loans. Webster Five Cents Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Springfield, Providence, and Manchester 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.

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    Originations

    133

    Origination Dollar Volume (All Markets)

    $39,475,000

    Awards

    Webster Five Cents Savings Bank 30 Year Conventional Loans silver
    Show all (1) awards

    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) 104 $22,230,000 $213,750 $2,213 6.75%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 19 $13,895,000 $731,316 $1,751 7.28%
    SPRINGFIELD, MA (FHA|USDA|VA) 4 $970,000 $242,500 $4,040 6.78%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $820,000 $410,000 $4,315 7.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $525,000 $525,000 $4,228 6.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $525,000 $525,000 $3,910 5.75%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $510,000 $255,000 $4,237 6.00%
    Webster Five Cents Savings Bank's top markets include Worcester, Boston, Springfield, Providence, and Manchester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Rhode Island (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: 24
    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    HOMEFIELD
    Similarity Rank: 75
    Sharon & Crescent United Credit Union
    Similarity Rank: 130
    GREYLOCK
    Similarity Rank: 160
    Country Bank for Savings
    Similarity Rank: 165
    Piscataqua Savings Bank
    Similarity Rank: 177
    Cape Cod Co-operative Bank
    Similarity Rank: 195
    Liberty Bank
    Similarity Rank: 266
    ROCKLAND
    Similarity Rank: 276

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 133 $39,475,000 $296,805 $2,317 6.81%

    For 2023, Webster Five Cents Savings Bank's most frequently originated type of loan was Conventional, with 133 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 65 $31,595,000 $486,077 $4,136 6.50%
    Home Improvement 27 $2,335,000 $86,481 $373 7.16%
    Other 20 $860,000 $43,000 $175 7.13%
    Cash Out Refi 11 $1,755,000 $159,545 $1,287 7.06%
    Refi 10 $2,930,000 $293,000 $1,924 6.95%

    For 2023, Webster Five Cents Savings Bank's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Home Improvement, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 66 $22,670,000 $343,485 $4,153 6.44%
    10 Year 27 $6,935,000 $256,852 $215 7.04%
    20 Year 21 $1,305,000 $62,143 $194 7.68%
    15 Year 11 $1,405,000 $127,727 $1,161 6.81%
    5 Year 6 $6,110,000 $1,018,333 $152 6.42%
    1 Year 1 $245,000 $245,000 $0 8.50%
    Other 1 $805,000 $805,000 $0 7.13%

    For 2023, Webster Five Cents Savings Bank's most frequently cited loan duration was 30 Year, with 66 originations. The 2nd most popular length was 10 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 58 $20,510,000 $353,621
    $<1k 57 $4,365,000 $76,579
    $2k-3k 2 $380,000 $190,000

    Webster Five Cents Savings Bank's average total fees were $4,153, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 58 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 66 $22,110,000 $335,000
    7-8% 38 $9,520,000 $250,526
    5-6% 22 $6,960,000 $316,364
    Over 8% 7 $885,000 $126,429

    During 2023, Webster Five Cents Savings Bank's average interest rate for loans was 6.44%, while their most frequently originated rate bucket for loans was 6-7%, with 66 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 46 $13,380,000 $290,870 $3,811 6.51%
    $100,000 or less 44 $2,000,000 $45,455 $259 7.14%
    $100k-200k 19 $2,565,000 $135,000 $1,862 7.01%
    $400k-600k 16 $7,920,000 $495,000 $4,409 6.41%
    $600k-1MM 5 $4,135,000 $827,000 $5,681 6.94%
    $1MM+ 3 $9,475,000 $3,158,333 $0 7.06%

    2023 saw Webster Five Cents Savings Bank place emphasis on $200k-400k loans with 46 originations, totaling $13,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 31 $9,305,000 $300,161 $2,929 6.66%
    $100k-150k 28 $4,890,000 $174,643 $1,746 6.83%
    $75k-100k 27 $4,565,000 $169,074 $2,116 6.90%
    $50k-75k 17 $2,485,000 $146,176 $2,275 6.75%
    $250k+ 12 $4,630,000 $385,833 $2,765 6.98%
    $50k or less 5 $475,000 $95,000 $2,226 6.80%

    Webster Five Cents Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 31 originations. The second most popular income band? $100k-150k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 26 $7,520,000 $289,231 $2,724 6.60%
    20-30% 23 $3,455,000 $150,217 $1,428 6.95%
    44% 11 $815,000 $74,091 $770 7.16%
    37% 9 $1,175,000 $130,556 $1,135 7.01%
    40% 8 $2,250,000 $281,250 $3,121 6.80%
    43% 7 $1,445,000 $206,429 $2,972 6.95%
    <20% 6 $1,770,000 $295,000 $2,834 6.06%
    42% 6 $2,060,000 $343,333 $3,697 6.40%
    45% 5 $1,385,000 $277,000 $3,863 6.90%
    41% 4 $910,000 $227,500 $2,375 6.94%
    39% 4 $640,000 $160,000 $2,149 6.78%
    48% 4 $870,000 $217,500 $3,654 6.66%
    36% 3 $395,000 $131,667 $1,433 7.42%
    38% 3 $825,000 $275,000 $2,416 6.54%
    49% 2 $680,000 $340,000 $4,009 6.19%
    46% 1 $355,000 $355,000 $4,018 6.88%
    47% 1 $255,000 $255,000 $0 6.13%

    Webster Five Cents Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? 20-30%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 101 $21,355,000 $211,436 $2,243 6.82%
    Not applicable 10 $12,670,000 $1,267,000 $0 7.11%
    Not provided 14 $2,230,000 $159,286 $1,532 6.60%
    Asian 4 $1,630,000 $407,500 $4,601 6.56%
    American Indian 2 $1,130,000 $565,000 $5,094 6.56%
    Black 2 $460,000 $230,000 $3,963 6.94%

    Approval Rates

    Total approvals of all applications
    81.68%

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

    Pick Rate

    Approvals leading to origination
    83.46%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 133 $39,475,000 $296,805

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    133 $39,475,000 $296,805

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $2,320,000 $145,000 $729 7.18%
    40-60% 9 $8,745,000 $971,667 $3,732 6.38%
    60-80% 31 $14,695,000 $474,032 $4,230 6.48%
    80-100% 30 $10,800,000 $360,000 $4,233 6.57%
    Under 20% 47 $2,915,000 $62,021 $334 7.13%