Rockland Trust Company Mortgage Rates, Fees & Info

Rockland, MA

LEI: TKT6FH38184ZYBTPKS77

Tax ID: 04-1782600

5 stars - Updated: 7/11/24 - out of 5 stars, based on 55 reviews

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

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Mortgage Data

Review & Overview

Rockland Trust Company is a small mortgage company specializing in Home Purchase loans. Rockland Trust Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Rockland Trust Company 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. Rockland Trust Company is typically an average 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 7/11/24
30 Year Conventional Purchase 5.73% 7/11/24
30 Year Conventional Refi 6.03% 7/11/24
30 Year Cash-out Refi 6.14% 7/11/24
30 Year FHA Purchase 7.04% 7/11/24
30 Year FHA Refi 6.77% 7/11/24
30 Year VA Purchase 6.57% 7/11/24
15 Year Conventional Purchase 5.44% 7/11/24
15 Year Conventional Refi 6.08% 7/11/24
15 Year Cash-out Refi 6.08% 7/11/24
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.

Rockland Trust Company Mortgage Calculator






Your Estimates

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

This is not an official calculator from Rockland Trust Company. 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

3,032

Origination Dollar Volume (All Markets)

$1,169,900,000
Show all (8) awards

Relative Rate

Rockland Trust Company's average 30 year fixed mortgage rate was 6.02%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.46%.

Relative Fees (Closing Costs)

Rockland Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $5,001.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2,109 $835,145,000 $395,991 $3,973 7.20%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 327 $100,885,000 $308,517 $3,608 7.27%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 292 $79,880,000 $273,562 $2,898 7.44%
WORCESTER, MA-CT (FHA|USDA|VA) 154 $50,720,000 $329,351 $4,089 7.06%
Outside of Metro Areas 39 $33,495,000 $858,846 $5,422 7.32%
Vineyard Haven, MA (FHA|USDA|VA) 44 $25,800,000 $586,364 $4,816 7.10%
SPRINGFIELD, MA (FHA|USDA|VA) 12 $14,440,000 $1,203,333 $3,811 6.71%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 14 $4,740,000 $338,571 $3,858 6.52%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $4,025,000 $575,000 $8,057 5.80%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 8 $3,860,000 $482,500 $5,663 6.31%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $3,285,000 $1,095,000 $8,965 5.67%
Concord, NH (FHA|USDA|VA) 3 $3,155,000 $1,051,667 $4,095 6.36%
Laconia, NH (FHA|USDA|VA) 5 $2,975,000 $595,000 $4,049 6.47%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,920,000 $960,000 $8,187 6.31%
Lebanon, NH-VT (FHA|USDA|VA) 5 $1,855,000 $371,000 $3,450 6.22%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $1,715,000 $571,667 $0 6.99%
PITTSFIELD, MA (FHA|USDA|VA) 1 $765,000 $765,000 $8,265 5.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $760,000 $380,000 $5,420 5.81%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $480,000 $240,000 $4,388 6.06%
Rockland Trust Company's top markets include Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others.

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

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

    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
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    Similarity Rank: 45
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    Similarity Rank: 56
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    FALL RIVER MUNICIPAL CREDIT UNION
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    Country Bank for Savings
    Similarity Rank: 165
    Piscataqua Savings Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,574 $885,560,000 $562,618 $3,730 6.44%
    HELOC 1,431 $272,245,000 $190,248 n/a 8.05%
    FHA 25 $11,465,000 $458,600 $13,433 6.68%
    VA 2 $630,000 $315,000 $8,865 6.81%

    For 2023, Rockland Trust Company's most frequently originated type of loan was Conventional, with 1,574 originations. Their 2nd most popular type was HELOC, with 1,431 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,359 $819,085,000 $602,712 $5,014 6.31%
    Home Improvement 845 $135,975,000 $160,917 $499 8.06%
    Refi 459 $150,075,000 $326,961 $536 7.61%
    Other 339 $50,255,000 $148,245 $872 8.18%
    Cash Out Refi 30 $14,510,000 $483,667 $4,903 6.41%

    For 2023, Rockland Trust Company's most frequently cited loan purpose was Home Purchase, with 1,359 originations. The 2nd most popular reason was Home Improvement, with 845 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,452 $315,270,000 $217,128 $0 8.06%
    30 Year 1,104 $571,400,000 $517,572 $5,001 6.02%
    20 Year 167 $76,915,000 $460,569 $87 7.66%
    10 Year 145 $104,455,000 $720,379 $11 7.14%
    15 Year 62 $12,480,000 $201,290 $1,450 6.84%
    5 Year 57 $52,175,000 $915,351 $16 7.19%
    1 Year 21 $22,315,000 $1,062,619 $0 8.85%
    30+ year 19 $13,555,000 $713,421 $8,124 6.22%
    3 Year 5 $1,335,000 $267,000 $0 8.05%

    For 2023, Rockland Trust Company's most frequently cited loan duration was Other, with 1,452 originations. The 2nd most popular length was 30 Year, with 1,104 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 802 $440,270,000 $548,965
    $<1k 411 $80,665,000 $196,265
    $5k+ 44 $24,750,000 $562,500
    $3k-4k 25 $8,595,000 $343,800
    $4k-5k 24 $14,350,000 $597,917
    $2k-3k 20 $6,440,000 $322,000

    Rockland Trust Company's average total fees were $5,001, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 802 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 1,128 $269,410,000 $238,839
    5-6% 650 $404,300,000 $622,000
    6-7% 634 $340,440,000 $536,972
    Over 8% 581 $106,855,000 $183,916
    <2.5% 20 $470,000 $23,500
    4-5% 19 $48,425,000 $2,548,684

    During 2023, Rockland Trust Company's average interest rate for loans was 6.02%, while their most frequently originated rate bucket for loans was 7-8%, with 1,128 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 713 $202,395,000 $283,864 $3,787 6.96%
    $100k-200k 687 $95,235,000 $138,624 $1,092 7.64%
    $100,000 or less 596 $35,800,000 $60,067 $60 8.28%
    $400k-600k 550 $269,740,000 $490,436 $5,147 6.46%
    $600k-1MM 354 $257,620,000 $727,740 $5,376 6.41%
    $1MM+ 132 $309,110,000 $2,341,742 $7,622 6.62%

    2023 saw Rockland Trust Company place emphasis on $200k-400k loans with 713 originations, totaling $202,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 830 $285,620,000 $344,120 $4,238 7.12%
    $100k-150k 689 $170,565,000 $247,554 $3,778 7.34%
    $250k+ 631 $336,375,000 $533,082 $4,990 6.97%
    $75k-100k 349 $59,135,000 $169,441 $2,481 7.50%
    $50k-75k 250 $34,450,000 $137,800 $2,155 7.25%
    $50k or less 72 $6,360,000 $88,333 $1,865 7.58%

    Rockland Trust Company lent most frequently to those with incomes in the $150k-250k range, with 830 originations. The second most popular income band? $100k-150k, with 689 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 527 $171,565,000 $325,550 $3,768 7.07%
    30-36% 506 $187,840,000 $371,225 $4,097 7.03%
    45% 238 $45,500,000 $191,176 $2,118 7.94%
    42% 164 $65,970,000 $402,256 $4,621 6.79%
    44% 147 $33,675,000 $229,082 $3,001 7.34%
    <20% 144 $52,530,000 $364,792 $3,567 7.02%
    41% 132 $50,540,000 $382,879 $3,799 7.09%
    37% 129 $49,685,000 $385,155 $4,600 6.88%
    43% 125 $26,105,000 $208,840 $2,482 7.62%
    50-60% 118 $20,050,000 $169,915 $11,112 8.06%
    40% 113 $39,645,000 $350,841 $4,771 6.73%
    36% 112 $37,810,000 $337,589 $3,843 6.98%
    39% 103 $33,775,000 $327,913 $4,498 7.05%
    38% 90 $31,710,000 $352,333 $3,815 7.12%
    49% 83 $20,755,000 $250,060 $4,580 7.71%
    46% 45 $11,875,000 $263,889 $5,273 7.51%
    48% 40 $8,800,000 $220,000 $8,466 7.79%
    47% 35 $7,845,000 $224,143 $4,951 7.54%

    Rockland Trust Company lent most frequently to those with DTI ratios of 20-30%, with 527 originations. The next most common DTI ratio? 30-36%, with 506 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,284 $685,450,000 $300,109 $3,716 7.28%
    Not applicable 170 $267,130,000 $1,571,353 $0 7.04%
    Not provided 247 $90,535,000 $366,538 $4,117 7.08%
    Asian 131 $50,495,000 $385,458 $4,807 6.71%
    Black 131 $42,745,000 $326,298 $5,561 7.05%
    Asian Indian 36 $20,750,000 $576,389 $4,846 6.36%
    Chinese 8 $3,490,000 $436,250 $4,432 6.71%
    American Indian 12 $3,110,000 $259,167 $4,517 7.87%
    Other Asian 4 $2,970,000 $742,500 $10,344 6.09%
    Vietnamese 4 $2,000,000 $500,000 $4,058 6.03%
    Native Hawaiian or Islander 2 $640,000 $320,000 $4,652 7.50%
    Korean 1 $475,000 $475,000 $3,999 5.99%
    Other Pacific Islander 1 $65,000 $65,000 $0 7.62%
    Guamanian 1 $45,000 $45,000 $0 9.49%

    Approval Rates

    Total approvals of all applications
    71.28%

    Rockland Trust Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.03%

    Rockland Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,032 $1,169,900,000 $385,851

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,032 $1,169,900,000 $385,851

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 638 $161,760,000 $253,542 $2,212 7.57%
    40-60% 281 $142,165,000 $505,925 $4,360 6.89%
    60-80% 620 $438,580,000 $707,387 $4,953 6.51%
    80-100% 501 $320,755,000 $640,230 $5,366 6.09%
    Under 20% 992 $106,640,000 $107,500 $261 8.06%