Merrimack County Savings Bank Mortgage Rates, Fees & Info

Concord, NH

LEI: 549300YV7HFY5MTM2Z65

Tax ID: 02-0166180

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Mortgage Data

Bank Data

Review & Overview

Merrimack County Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Merrimack County Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Concord, Manchester, Boston, Laconia, and Lebanon among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Merrimack County 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. Merrimack County 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 6.10% 4/28/24
30 Year Conventional Refi 6.12% 4/28/24
30 Year Cash-out Refi 6.23% 4/28/24
15 Year Conventional Purchase 5.66% 4/28/24
15 Year Conventional Refi 6.17% 4/28/24
15 Year Cash-out Refi 6.17% 4/28/24
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.

Merrimack County Savings Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Merrimack County 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

477

Origination Dollar Volume (All Markets)

$149,725,000

Employee count

166

Awards

Merrimack County Savings Bank 30 Year Conventional Loans silver Merrimack County Savings Bank 30 Year Conventional Loans silver Merrimack County Savings Bank 30 Year Conventional Loans gold Merrimack County Savings Bank 30 Year Conventional Loans silver
Show all (4) 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
Concord, NH (FHA|USDA|VA) 261 $70,505,000 $270,134 $3,256 3.17%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 97 $32,145,000 $331,392 $3,920 3.10%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 59 $27,545,000 $466,864 $3,904 3.32%
Laconia, NH (FHA|USDA|VA) 24 $6,310,000 $262,917 $3,480 3.37%
Lebanon, NH-VT (FHA|USDA|VA) 11 $5,895,000 $535,909 $5,421 3.40%
Outside of Metro Areas 13 $4,565,000 $351,154 $4,265 3.16%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 4 $1,250,000 $312,500 $3,009 3.68%
Berlin, NH (FHA|USDA|VA) 5 $665,000 $133,000 $2,817 3.80%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $535,000 $535,000 $2,985 2.25%
Keene, NH (FHA|USDA|VA) 2 $310,000 $155,000 $3,947 3.75%
Merrimack County Savings Bank's top markets include Concord, Manchester, Boston, Laconia, and Lebanon among others.

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

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

    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
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    Similarity Rank: 755
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    Norwood Co-operative Bank
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    QUINCY CREDIT UNION
    Similarity Rank: 900
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    HARVARD UNIVERSITY EMPLOYEES
    Similarity Rank: 1001

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 477 $149,725,000 $313,889 $3,562 3.20%

    For 2021, Merrimack County Savings Bank's most frequently originated type of loan was Conventional, with 477 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 187 $69,385,000 $371,043 $5,074 3.43%
    Cash Out Refi 157 $44,525,000 $283,599 $2,869 3.09%
    Refi 108 $29,690,000 $274,907 $2,486 2.91%
    Other 13 $3,915,000 $301,154 $2,545 3.40%
    Home Improvement 12 $2,210,000 $184,167 $2,022 3.29%

    For 2021, Merrimack County Savings Bank's most frequently cited loan purpose was Home Purchase, with 187 originations. The 2nd most popular reason was Cash Out Refi, with 157 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 246 $80,960,000 $329,106 $2,961 3.23%
    15 Year 79 $17,725,000 $224,367 $2,537 2.76%
    30+ year 72 $33,350,000 $463,194 $7,792 3.32%
    10 Year 29 $6,515,000 $224,655 $2,176 2.66%
    20 Year 26 $6,290,000 $241,923 $2,402 3.42%
    Other 19 $4,655,000 $245,000 $3,907 4.67%
    5 Year 6 $230,000 $38,333 $0 3.25%

    For 2021, Merrimack County Savings Bank's most frequently cited loan duration was 30 Year, with 246 originations. The 2nd most popular length was 15 Year, with 79 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 368 $101,940,000 $277,011
    $5k+ 33 $19,115,000 $579,242
    $4k-5k 21 $8,725,000 $415,476
    $2k-3k 12 $3,550,000 $295,833
    $3k-4k 8 $2,640,000 $330,000
    $1k-2k 4 $970,000 $242,500

    Merrimack County Savings Bank's average total fees were $2,961, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 368 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 217 $80,475,000 $370,853
    2.5-3% 177 $50,275,000 $284,040
    <2.5% 47 $11,425,000 $243,085
    4-5% 28 $6,870,000 $245,357
    5-6% 7 $575,000 $82,143
    6-7% 1 $105,000 $105,000

    During 2021, Merrimack County Savings Bank's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 217 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 233 $65,125,000 $279,506 $3,256 3.16%
    $100k-200k 108 $16,790,000 $155,463 $2,502 3.13%
    $400k-600k 74 $35,410,000 $478,514 $5,009 3.12%
    $100,000 or less 30 $1,950,000 $65,000 $1,158 3.82%
    $600k-1MM 29 $20,915,000 $721,207 $8,129 3.32%
    $1MM+ 3 $9,535,000 $3,178,333 $7,139 3.00%

    2021 saw Merrimack County Savings Bank place emphasis on $200k-400k loans with 233 originations, totaling $65,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 112 $31,690,000 $282,946 $3,622 3.20%
    $150k-250k 111 $38,905,000 $350,495 $3,672 3.17%
    $50k-75k 75 $14,665,000 $195,533 $2,934 3.09%
    $75k-100k 75 $17,945,000 $239,267 $3,062 3.11%
    $250k+ 62 $30,730,000 $495,645 $5,016 3.07%
    $50k or less 22 $3,000,000 $136,364 $2,578 3.76%

    Merrimack County Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 112 originations. The second most popular income band? $150k-250k, with 111 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 129 $36,555,000 $283,372 $3,286 3.06%
    30-36% 93 $29,675,000 $319,086 $4,232 3.20%
    <20% 42 $14,890,000 $354,524 $3,244 2.82%
    44% 23 $5,935,000 $258,043 $3,221 3.20%
    37% 22 $6,940,000 $315,455 $3,288 3.41%
    38% 22 $6,800,000 $309,091 $3,303 3.46%
    40% 17 $5,215,000 $306,765 $3,119 3.55%
    45% 16 $4,540,000 $283,750 $3,975 3.29%
    42% 14 $4,140,000 $295,714 $3,811 3.14%
    41% 14 $4,730,000 $337,857 $4,363 3.32%
    36% 13 $3,085,000 $237,308 $2,872 3.22%
    39% 13 $4,135,000 $318,077 $3,568 3.01%
    43% 11 $3,855,000 $350,455 $4,199 3.16%
    49% 11 $3,475,000 $315,909 $4,190 3.28%
    47% 8 $2,040,000 $255,000 $2,931 3.14%
    46% 8 $1,860,000 $232,500 $3,349 3.75%
    48% 4 $1,020,000 $255,000 $2,718 2.97%
    50-60% 4 $1,330,000 $332,500 $3,698 3.19%

    Merrimack County Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 129 originations. The next most common DTI ratio? 30-36%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 350 $102,670,000 $293,343 $3,484 3.16%
    Not provided 103 $34,485,000 $334,806 $3,885 3.15%
    Not applicable 13 $9,505,000 $731,154 $0 4.25%
    Asian 5 $1,445,000 $289,000 $3,067 4.45%
    Black 3 $865,000 $288,333 $2,705 3.04%
    American Indian 2 $410,000 $205,000 $3,008 2.94%
    Native Hawaiian or Islander 1 $345,000 $345,000 $2,899 3.25%

    Approval Rates

    Total approvals of all applications
    94.71%

    Merrimack County Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.28%

    Merrimack County Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1355.0 1 $105,000 $105,000
    1480.0 4 $310,000 $77,500
    1485.0 1 $105,000 $105,000
    NA 471 $149,205,000 $316,783

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    477 $149,725,000 $313,889

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $7,335,000 $163,000 $2,541 2.83%
    40-60% 112 $26,410,000 $235,804 $3,016 3.02%
    60-80% 192 $70,460,000 $366,979 $3,799 3.26%
    80-100% 112 $44,580,000 $398,036 $4,674 3.33%
    Under 20% 16 $940,000 $58,750 $328 3.78%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Merrimack County Savings Bank 1 Integra Drive Concord, NH 3302 Full Service B&M $80,641
    Merrimack County Savings Bank 101 Broad Street Nashua, NH 3064 Full Service B&M $67,763
    Merrimack County Savings Bank 167 North State Street Concord, NH 3301 Full Service B&M $65,947
    Merrimack County Savings Bank 35 Kearsarge Avenue Contoocook, NH 3229 Full Service B&M $62,061
    Merrimack County Savings Bank 360 Londonderry Turnpike Road Hooksett, NH 3106 Full Service B&M $23,333
    Merrimack County Savings Bank 503 South Street Bow, NH 3304 Full Service B&M $141,787
    Merrimack County Savings Bank 530 West River Road Hooksett, NH 3106 Full Service B&M $4,217
    Merrimack County Savings Bank 89 N Main St Concord, NH 3301 Full Service B&M $502,844

    For 2021, Merrimack County Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $38,736
    Net interest income $37,061
    Total noninterest income $3,364
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $509
    Trading account gains and fees $0
    Additional Noninterest Income $2,855
    Pre-tax net operating income $11,350
    Securities gains (or losses, -) $14
    Income before extraordinary items $8,593
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,593
    Minority interest net income $0
    Net income $8,593
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,581

    Merrimack County Savings Bank's gross interest income from loans was $38,736,000.
    Merrimack County Savings Bank's net interest income from loans was $37,061,000.
    Merrimack County Savings Bank's fee based income from loans was $509,000.
    Merrimack County Savings Bank's net income from loans was $8,593,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,675
    Provision for credit losses $816
    Total noninterest expense $28,259
    Salaries and employee benefits $15,763
    Premises and equipment expense $4,272
    Additional noninterest expense $8,224
    Applicable income taxes $2,771
    Net charge-offs $85
    Cash dividends $592

    Merrimack County Savings Bank's interest expense for loans was $1,675,000.
    Merrimack County Savings Bank's payroll and benefits expense were $15,763,000.
    Merrimack County Savings Bank's property, plant and equipment expenses $4,272,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $967,904
    Deposits held in domestic offices $967,904
    Deposits by Individuals, partnerships, and corporations $886,853
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $78,273
    Deposits by Commercial banks and other depository institutions in U.S. $2,777
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $496,415
    Demand deposits $193,229
    Nontransaction accounts $471,488
    Money market deposit accounts (MMDAs) $214,439
    Other savings deposits (excluding MMDAs) $151,929
    Total time deposits $105,121
    Total time and savings deposits $774,674
    Noninterest-bearing deposits $193,229
    Interest-bearing deposits $774,675
    Retail deposits $956,536
    IRAs and Keogh plan accounts $17,502
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,163,952
    Cash & Balances due from depository institutions $63,096
    Interest-bearing balances $54,372
    Total securities $148,661
    Federal funds sold & reverse repurchase $798
    Net loans and leases $907,208
    Loan and leases loss allowance $9,337
    Trading account assets $0
    Bank premises and fixed assets $15,761
    Other real estate owned $0
    Goodwill and other intangibles $4,234
    All other assets $24,194

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,163,952
    Total Liabilities $1,051,527
    Total deposits $967,904
    Interest-bearing deposits $774,675
    Deposits held in domestic offices $967,904
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $71,236
    Trading liabilities $0
    Other borrowed funds $7,620
    Subordinated debt $0
    All other liabilities $4,767

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $907,208
    Loan and leases loss allowance $9,337
    Total loans and leases (domestic) $916,545
    All real estate loans $676,689
    Real estate loans in domestic offices $676,689
    Construction and development loans $48,908
    Residential 1-4 family construction $21,228
    Other construction, all land development and other land $27,680
    Loans secured by nonfarm nonresidential properties $216,592
    Nonfarm nonresidential secured by owner-occupied properties $113,186
    Commercial real estate & other non-farm, non-residential $103,406
    Multifamily residential real estate $47,890
    1-4 family residential loans $361,909
    Farmland loans $1,390
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $106,825
    To non-U.S. addressees $0
    Loans to individuals $132,667
    Credit card loans $0
    Related Plans $119
    Consumer Auto Loans $8,655
    Other loans to individuals $123,893
    All other loans & leases $364
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $907
    Non 1-4 family restructured loans & leases $633
    Total loans and leases (foreign) $0

    Merrimack County Savings Bank had $907,208,000 of loans outstanding in 2021. $676,689,000 of loans were in real estate loans. $48,908,000 of loans were in development loans. $47,890,000 of loans were in multifamily mortgage loans. $361,909,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $8,655,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 362 $90,346 $249,575
    Nonfarm, nonresidential loans - <$100k 46 $1,664 $36,174
    Nonfarm, nonresidential loans - $100-250k 128 $15,091 $117,898
    Nonfarm, nonresidential loans - $250k-1MM 188 $73,591 $391,441
    Commercial & Industrial, US addressed loans - <$1MM 811 $49,844 $61,460
    Commercial & Industrial, US addressed loans - <$100k 546 $9,705 $17,775
    Commercial & Industrial, US addressed loans - $100-250k 149 $13,509 $90,664
    Commercial & Industrial, US addressed loans - $250k-1MM 116 $26,630 $229,569
    Farmland loans - <$1MM 1 $366 $366,000
    Farmland loans - $250k-1MM 1 $366 $366,000