Middlesex Savings Bank Mortgage Rates, Fees & Info

Natick, MA

LEI: VMDPCBOQ43W3PZTYZL93

Tax ID: 27-0402195

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

    Middlesex Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Middlesex Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, Lebanon, and Providence among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Middlesex Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Middlesex 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
    Home Equity Line of Credit (HELOC) 5.38% 3/24/25
    30 Year Conventional Purchase 5.85% 3/24/25
    30 Year Conventional Refi 6.37% 3/24/25
    30 Year Cash-out Refi 6.19% 3/24/25
    15 Year Conventional Purchase 5.40% 3/24/25
    15 Year Conventional Refi 5.74% 3/24/25
    15 Year Cash-out Refi 5.74% 3/24/25
    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.

    Middlesex Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Middlesex 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

    1,257

    Origination Dollar Volume (All Markets)

    $537,815,000
    Show all (6) 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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1,046 $465,640,000 $445,163 $2,104 3.52%
    WORCESTER, MA-CT (FHA|USDA|VA) 174 $53,040,000 $304,828 $2,436 3.66%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 23 $9,845,000 $428,043 $2,884 3.50%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $5,485,000 $5,485,000 $0 4.50%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 13 $3,805,000 $292,692 $2,876 4.26%
    Middlesex Savings Bank's top markets include Boston, Worcester, Barnstable Town, Lebanon, and Providence among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Middlesex 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 702 $436,970,000 $622,464 $2,192 3.99%
    HELOC 555 $100,845,000 $181,703 n/a 2.99%

    For 2022, Middlesex Savings Bank's most frequently originated type of loan was Conventional, with 702 originations. Their 2nd most popular type was HELOC, with 555 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 433 $80,935,000 $186,917 $117 3.49%
    Home Purchase 342 $217,730,000 $636,637 $3,557 3.87%
    Refi 249 $167,905,000 $674,317 $2,017 3.41%
    Cash Out Refi 120 $55,220,000 $460,167 $2,428 3.11%
    Other 113 $16,025,000 $141,814 $482 3.56%

    For 2022, Middlesex Savings Bank's most frequently cited loan purpose was Home Improvement, with 433 originations. The 2nd most popular reason was Home Purchase, with 342 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 963 $285,535,000 $296,506 $2,796 3.42%
    15 Year 141 $57,365,000 $406,844 $1,158 3.79%
    10 Year 56 $45,390,000 $810,536 $220 4.22%
    30+ year 36 $32,060,000 $890,556 $5,092 3.85%
    5 Year 28 $60,520,000 $2,161,429 $0 4.36%
    20 Year 24 $4,950,000 $206,250 $1,174 3.99%
    Other 8 $27,990,000 $3,498,750 $4,186 3.90%
    3 Year 1 $24,005,000 $24,005,000 $0 4.38%

    For 2022, Middlesex Savings Bank's most frequently cited loan duration was 30 Year, with 963 originations. The 2nd most popular length was 15 Year, with 141 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 577 $212,815,000 $368,830
    $1k-2k 7 $3,025,000 $432,143
    $2k-3k 6 $2,710,000 $451,667
    $3k-4k 5 $3,235,000 $647,000
    $5k+ 3 $3,225,000 $1,075,000
    $4k-5k 1 $735,000 $735,000

    Middlesex Savings Bank's average total fees were $2,796, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 577 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 699 $180,355,000 $258,019
    3-4% 208 $150,080,000 $721,538
    4-5% 191 $116,015,000 $607,408
    5-6% 72 $56,370,000 $782,917
    <2.5% 51 $25,755,000 $505,000
    6-7% 33 $9,025,000 $273,485
    7-8% 3 $215,000 $71,667

    During 2022, Middlesex Savings Bank's average interest rate for loans was 3.42%, while their most frequently originated rate bucket for loans was 2.5-3%, with 699 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 314 $89,240,000 $284,204 $2,234 3.51%
    $100,000 or less 294 $15,880,000 $54,014 $57 3.69%
    $100k-200k 289 $38,005,000 $131,505 $834 3.39%
    $400k-600k 203 $97,845,000 $481,995 $3,146 3.54%
    $600k-1MM 103 $76,995,000 $747,524 $4,110 3.60%
    $1MM+ 54 $219,850,000 $4,071,296 $5,393 3.71%

    2022 saw Middlesex Savings Bank place emphasis on $200k-400k loans with 314 originations, totaling $89,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 402 $105,370,000 $262,114 $1,827 3.65%
    $250k+ 326 $152,360,000 $467,362 $3,239 3.42%
    $100k-150k 279 $64,455,000 $231,022 $1,976 3.48%
    $75k-100k 110 $18,770,000 $170,636 $2,003 3.49%
    $50k-75k 69 $12,445,000 $180,362 $1,745 3.61%
    $50k or less 31 $3,965,000 $127,903 $1,406 3.59%

    Middlesex Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 402 originations. The second most popular income band? $250k+, with 326 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 358 $106,100,000 $296,369 $2,281 3.51%
    30-36% 271 $79,685,000 $294,041 $2,161 3.65%
    <20% 138 $49,140,000 $356,087 $2,230 3.44%
    37% 53 $18,155,000 $342,547 $2,340 3.52%
    39% 51 $15,905,000 $311,863 $2,863 3.36%
    42% 50 $12,140,000 $242,800 $1,984 3.67%
    40% 49 $12,225,000 $249,490 $1,863 3.43%
    36% 47 $13,695,000 $291,383 $1,761 4.02%
    38% 42 $11,030,000 $262,619 $2,200 3.29%
    41% 34 $7,320,000 $215,294 $1,708 3.41%
    44% 31 $6,775,000 $218,548 $2,534 3.25%
    >60% 25 $9,175,000 $367,000 $2,355 3.39%
    43% 25 $4,445,000 $177,800 $1,825 3.12%
    50-60% 22 $8,110,000 $368,636 $2,233 3.45%
    45% 10 $2,650,000 $265,000 $2,609 3.41%
    47% 9 $2,875,000 $319,444 $2,010 3.90%
    46% 8 $1,360,000 $170,000 $1,223 4.00%
    48% 6 $1,480,000 $246,667 $1,577 3.33%
    49% 5 $705,000 $141,000 $1,670 3.02%

    Middlesex Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 358 originations. The next most common DTI ratio? 30-36%, with 271 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 970 $269,660,000 $278,000 $2,068 3.48%
    Not applicable 23 $174,845,000 $7,601,957 $0 4.62%
    Not provided 177 $62,765,000 $354,605 $2,588 3.60%
    Asian 71 $23,935,000 $337,113 $2,564 3.86%
    Black 6 $2,650,000 $441,667 $2,996 4.38%
    Chinese 2 $1,370,000 $685,000 $2,609 3.81%
    Asian Indian 4 $1,320,000 $330,000 $2,209 4.00%
    Native Hawaiian or Islander 1 $565,000 $565,000 $2,808 3.00%
    Japanese 1 $405,000 $405,000 $0 2.99%
    Korean 1 $255,000 $255,000 $0 2.99%
    American Indian 1 $45,000 $45,000 $0 2.99%

    Approval Rates

    Total approvals of all applications
    92.13%

    Middlesex Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.06%

    Middlesex Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,257 $537,815,000 $427,856

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,257 $537,815,000 $427,856

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 265 $88,215,000 $332,887 $1,632 3.29%
    40-60% 151 $179,685,000 $1,189,967 $2,604 3.31%
    60-80% 198 $138,410,000 $699,040 $3,418 3.76%
    80-100% 148 $87,130,000 $588,716 $3,723 3.90%
    Under 20% 495 $44,375,000 $89,646 $128 3.56%