Merrimack County Savings Bank Mortgage Rates, Fees & Info

Concord, NH

LEI: 549300YV7HFY5MTM2Z65

Tax ID: 02-0166180

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

    Merrimack County Savings Bank is a smaller bank specializing in Home Purchase 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 11 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

    384

    Origination Dollar Volume (All Markets)

    $153,300,000
    Show all (5) 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) 170 $51,660,000 $303,882 $3,877 4.51%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 98 $42,210,000 $430,714 $5,238 4.50%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 54 $35,520,000 $657,778 $4,158 4.79%
    Laconia, NH (FHA|USDA|VA) 24 $11,500,000 $479,167 $5,273 5.05%
    Lebanon, NH-VT (FHA|USDA|VA) 16 $5,540,000 $346,250 $4,747 4.31%
    Outside of Metro Areas 8 $2,800,000 $350,000 $4,543 4.42%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 4 $1,790,000 $447,500 $3,381 5.38%
    Keene, NH (FHA|USDA|VA) 4 $920,000 $230,000 $3,449 4.12%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $710,000 $355,000 $4,154 4.18%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $445,000 $445,000 $3,802 4.75%
    Berlin, NH (FHA|USDA|VA) 3 $205,000 $68,333 $3,096 5.65%
    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.

    Triangle Credit Union
    Similarity Rank: 30
    QUINCY CREDIT UNION
    Similarity Rank: 50
    Direct Federal Credit Union
    Similarity Rank: 115
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    Middlesex Savings Bank
    Similarity Rank: 195
    Piscataqua Savings Bank
    Similarity Rank: 200
    ALIGN CREDIT UNION
    Similarity Rank: 200
    Mascoma Bank
    Similarity Rank: 345
    North Easton Savings Bank
    Similarity Rank: 348
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 357

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 384 $153,300,000 $399,219 $4,402 4.58%

    For 2022, Merrimack County Savings Bank's most frequently originated type of loan was Conventional, with 384 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 240 $110,890,000 $462,042 $5,801 4.74%
    Cash Out Refi 60 $18,280,000 $304,667 $3,358 4.00%
    Home Improvement 47 $4,735,000 $100,745 $707 4.62%
    Refi 22 $16,180,000 $735,455 $2,877 4.13%
    Other 15 $3,215,000 $214,333 $1,218 5.02%

    For 2022, Merrimack County Savings Bank's most frequently cited loan purpose was Home Purchase, with 240 originations. The 2nd most popular reason was Cash Out Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 203 $88,745,000 $437,167 $3,556 4.61%
    30+ year 78 $44,890,000 $575,513 $9,256 4.33%
    15 Year 29 $5,265,000 $181,552 $1,478 4.42%
    20 Year 25 $5,295,000 $211,800 $1,552 4.91%
    Other 24 $7,470,000 $311,250 $6,056 5.34%
    10 Year 15 $1,405,000 $93,667 $424 4.57%
    5 Year 10 $230,000 $23,000 $0 3.90%

    For 2022, Merrimack County Savings Bank's most frequently cited loan duration was 30 Year, with 203 originations. The 2nd most popular length was 30+ year, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 200 $60,570,000 $302,850
    $5k+ 61 $39,055,000 $640,246
    $1k-2k 38 $11,460,000 $301,579
    $2k-3k 15 $5,815,000 $387,667
    $4k-5k 12 $4,890,000 $407,500
    $3k-4k 9 $2,945,000 $327,222

    Merrimack County Savings Bank's average total fees were $3,556, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 200 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 154 $59,020,000 $383,247
    3-4% 99 $46,545,000 $470,152
    5-6% 63 $23,895,000 $379,286
    6-7% 35 $12,005,000 $343,000
    2.5-3% 25 $10,495,000 $419,800
    7-8% 7 $1,285,000 $183,571
    Over 8% 1 $55,000 $55,000

    During 2022, Merrimack County Savings Bank's average interest rate for loans was 4.61%, while their most frequently originated rate bucket for loans was 4-5%, with 154 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 122 $36,510,000 $299,262 $3,930 4.46%
    $400k-600k 86 $41,250,000 $479,651 $6,089 4.54%
    $100k-200k 56 $8,240,000 $147,143 $2,434 4.74%
    $100,000 or less 53 $2,475,000 $46,698 $334 5.00%
    $600k-1MM 51 $36,635,000 $718,333 $7,947 4.41%
    $1MM+ 16 $28,190,000 $1,761,875 $8,912 4.45%

    2022 saw Merrimack County Savings Bank place emphasis on $200k-400k loans with 122 originations, totaling $36,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 97 $29,985,000 $309,124 $3,834 4.78%
    $150k-250k 84 $40,140,000 $477,857 $5,853 4.43%
    $75k-100k 56 $12,260,000 $218,929 $3,354 4.47%
    $50k-75k 52 $10,620,000 $204,231 $3,099 4.29%
    $250k+ 46 $33,400,000 $726,087 $6,361 4.29%
    $50k or less 18 $2,990,000 $166,111 $2,493 4.94%

    Merrimack County Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 97 originations. The second most popular income band? $150k-250k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 75 $30,185,000 $402,467 $4,916 4.42%
    20-30% 67 $22,875,000 $341,418 $4,029 4.45%
    41% 21 $7,075,000 $336,905 $4,721 4.61%
    39% 20 $7,100,000 $355,000 $4,135 4.54%
    42% 19 $6,445,000 $339,211 $4,779 4.91%
    44% 18 $3,630,000 $201,667 $3,443 4.62%
    46% 17 $3,835,000 $225,588 $2,574 4.47%
    43% 16 $5,900,000 $368,750 $4,234 4.55%
    37% 15 $4,885,000 $325,667 $3,385 4.86%
    <20% 14 $5,140,000 $367,143 $2,765 4.52%
    36% 13 $4,915,000 $378,077 $4,350 4.68%
    45% 12 $4,660,000 $388,333 $4,841 4.10%
    49% 12 $7,480,000 $623,333 $5,820 4.48%
    48% 10 $6,030,000 $603,000 $7,790 4.51%
    40% 9 $3,165,000 $351,667 $4,767 4.65%
    38% 9 $2,725,000 $302,778 $3,688 4.50%
    47% 9 $3,265,000 $362,778 $5,482 5.00%
    50-60% 1 $525,000 $525,000 $8,902 3.63%

    Merrimack County Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 75 originations. The next most common DTI ratio? 20-30%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 283 $98,085,000 $346,590 $4,399 4.55%
    Not provided 58 $25,550,000 $440,517 $4,642 4.43%
    Not applicable 26 $22,600,000 $869,231 $0 5.19%
    Asian 13 $5,975,000 $459,615 $3,469 4.88%
    American Indian 2 $780,000 $390,000 $6,977 4.06%
    Native Hawaiian or Islander 2 $310,000 $155,000 $1,526 4.00%

    Approval Rates

    Total approvals of all applications
    91.25%

    Merrimack County Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.17%

    Merrimack County Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1435.0 1 $95,000 $95,000
    1455.0 1 $105,000 $105,000
    1480.0 1 $175,000 $175,000
    1485.0 2 $160,000 $80,000
    1579.08 1 $115,000 $115,000
    1581.71 1 $125,000 $125,000
    NA 377 $152,525,000 $404,576

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    384 $153,300,000 $399,219

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $4,800,000 $184,615 $2,466 4.30%
    40-60% 52 $17,030,000 $327,500 $5,001 4.48%
    60-80% 136 $66,610,000 $489,779 $5,296 4.49%
    80-100% 123 $62,415,000 $507,439 $5,368 4.69%
    Under 20% 47 $2,445,000 $52,021 $197 4.85%