Vineyard Haven Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Vineyard Haven averaged
5.59%
for the week of 2023-12-07, compared to the national average of
7.03% for the same period.
The average rate for the prior week (2023-11-30) was
5.98% and
one month ago for the week of 2023-11-02, the
average rate was 6.72%.
Vineyard Haven's average rate one year ago was 5.35%.
For refis of the same type during the week of 2023-12-07, the average rate
was 5.7%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-12-07 | 7.03% |
| Vineyard Haven 30 Year Fixed Rate | 2023-12-07 | 5.59% |
| Vineyard Haven 30 Year Fixed Rate Refi | 2023-12-07 | 5.7% |
| Vineyard Haven 15 Year Fixed Rate | 2023-12-07 | 6.29% |
| Vineyard Haven 15 Year Fixed Rate Refi | 2023-12-07 | 6.49% |
| Vineyard Haven 30 Year FHA | 2023-12-07 | 7.02% |
| Vineyard Haven 30 Year FHA Refi | 2023-12-07 | 7.02% |
| Vineyard Haven 30 Year VA | 2023-12-07 | 6.34% |
| Vineyard Haven 30 Year VA Refi | 2023-12-07 | 6.34% |
Vineyard Haven Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Vineyard Haven, MA market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Vineyard Haven Average Closing Costs & Other Stats
Vineyard Haven, MA's 84 lenders originated 928
loans during 2022. The total origination value was $1,030,260,000, with an average loan value of
$1,110,194.
Vineyard Haven's average closing costs are $6,209.
The top Vineyard Haven lender as defined by loan originations is The Cape Cod Five Cents Savings Bank, with
123 loans originated. Their average total fees are
$5,034, which is $10,305
lower than the next largest lender,
First Republic Bank.
The lowest fee Vineyard Haven lenders (with over 10 loans originated) are
The Cape Cod Five Cents Savings Bank ($5,034), Wells Fargo Bank ($5,825), Rockland Trust Company ($6,044), Bank of America ($6,139) and Morgan Stanley Private Bank ($7,197).
The lowest rate Vineyard Haven lenders (with over 10 loans originated) are
Bank of America (2.54%), First Republic Bank (3.10%), Wells Fargo Bank (3.32%), JPMorgan Chase Bank (3.43%) and The Cape Cod Five Cents Savings Bank (3.66%).
Vineyard Haven, MA Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| Martha's Vineyard Savings Bank | $265,985,000 | $173,145,000 | -34.9% | 16.8% |
| The Cape Cod Five Cents Savings Bank | $181,715,000 | $133,845,000 | -26.3% | 13.0% |
| First Republic Bank | $74,730,000 | $106,075,000 | 41.9% | 10.3% |
| Bank of America | $44,355,000 | $100,325,000 | 126.2% | 9.7% |
| JPMorgan Chase Bank | $85,900,000 | $80,905,000 | -5.8% | 7.9% |
| Rockland Trust Company | $32,115,000 | $52,775,000 | 64.3% | 5.1% |
| Morgan Stanley Private Bank | $25,680,000 | $41,280,000 | 60.7% | 4.0% |
| Wells Fargo Bank | $64,980,000 | $39,750,000 | -38.8% | 3.9% |
| Silicon Valley Bank | $1,205,000 | $23,015,000 | 1,810.0% | 2.2% |
| Citizens Bank | $17,850,000 | $22,625,000 | 26.8% | 2.2% |
| UBS Bank USA | $13,995,000 | $16,635,000 | 18.9% | 1.6% |
| QUICKEN LOANS, LLC | $46,155,000 | $15,270,000 | -66.9% | 1.5% |
| Citibank | $43,530,000 | $14,410,000 | -66.9% | 1.4% |
| Goldman Sachs Bank USA | $30,525,000 | $10,365,000 | -66.0% | 1.0% |
| PNC Bank | $4,150,000 | $8,375,000 | 101.8% | 0.8% |
| U.S. Bank | $11,920,000 | $6,400,000 | -46.3% | 0.6% |
| BAYCOAST MORTGAGE COMPANY, LLC | $155,000 | $6,275,000 | 3,948.4% | 0.6% |
| GUARANTEED RATE, INC. | $16,115,000 | $5,960,000 | -63.0% | 0.6% |
| BNY Mellon | $9,700,000 | $5,490,000 | -43.4% | 0.5% |
| Charles Schwab Bank, SSB | $5,905,000 | $5,350,000 | -9.4% | 0.5% |
| Santander Bank, N.A. | $56,175,000 | $5,195,000 | -90.8% | 0.5% |
| Fall River Five Cents Savings Bank | $1,230,000 | $4,765,000 | 287.4% | 0.5% |
| City National Bank | $4,735,000 | $4,720,000 | -0.3% | 0.5% |
| Dedham Institution for Savings | $4,600,000 | n/a | 0.4% | |
| Stifel Bank and Trust | $5,310,000 | $4,600,000 | -13.4% | 0.4% |
| Cambridge Trust Company | $4,510,000 | $4,520,000 | 0.2% | 0.4% |
| TD Bank | $14,745,000 | $4,180,000 | -71.7% | 0.4% |
| RADIUS FINANCIAL GROUP INC. | $1,470,000 | $4,010,000 | 172.8% | 0.4% |
| BMO Harris Bank | $4,005,000 | n/a | 0.4% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $4,565,000 | $3,575,000 | -21.7% | 0.3% |
| KeyBank | $3,820,000 | $3,525,000 | -7.7% | 0.3% |
| Eastern Bank | $7,875,000 | $3,425,000 | -56.5% | 0.3% |
| Webster Bank | $6,935,000 | $3,380,000 | -51.3% | 0.3% |
| Brookline Bank | $1,655,000 | $3,240,000 | 95.8% | 0.3% |
| Monson Savings Bank | $3,240,000 | n/a | 0.3% | |
| WALL STREET MORTGAGE BANKERS, LTD. | $3,230,000 | n/a | 0.3% | |
| Truist | $920,000 | $3,165,000 | 244.0% | 0.3% |
| NFM, INC. | $635,000 | $2,995,000 | 371.7% | 0.3% |
| HARBORONE MORTGAGE, LLC | $7,030,000 | $2,970,000 | -57.8% | 0.3% |
| BayCoast Bank | $2,920,000 | n/a | 0.3% | |
| HSBC BANK USA, NATIONAL ASSOCIATION | $2,890,000 | n/a | 0.3% | |
| HOME POINT FINANCIAL CORPORATION | $5,335,000 | $2,870,000 | -46.2% | 0.3% |
| Leader Bank | $7,755,000 | $2,870,000 | -63.0% | 0.3% |
| Dollar Bank, Federal Savings Bank | $2,765,000 | n/a | 0.3% | |
| MOVEMENT MORTGAGE, LLC | $810,000 | $2,565,000 | 216.7% | 0.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $6,805,000 | $2,460,000 | -63.9% | 0.2% |
| ALLIED MORTGAGE GROUP, INC. | $22,615,000 | $2,455,000 | -89.1% | 0.2% |
| PENNYMAC LOAN SERVICES, LLC | $5,455,000 | $2,340,000 | -57.1% | 0.2% |
| Cambridge Savings Bank | $1,280,000 | $2,325,000 | 81.6% | 0.2% |
| The Village Bank | $3,765,000 | $2,085,000 | -44.6% | 0.2% |
| ATHAS CAPITAL GROUP, INC. | $1,980,000 | n/a | 0.2% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $5,850,000 | $1,950,000 | -66.7% | 0.2% |
| The Northern Trust Company | $18,915,000 | $1,805,000 | -90.5% | 0.2% |
| EMBRACE HOME LOANS, INC. | $2,080,000 | $1,755,000 | -15.6% | 0.2% |
| LOANDEPOT.COM, LLC | $15,965,000 | $1,745,000 | -89.1% | 0.2% |
| Envision Bank | $2,125,000 | $1,710,000 | -19.5% | 0.2% |
| First Guaranty Mortgage Corporation | $325,000 | $1,710,000 | 426.2% | 0.2% |
| ARC HOME LLC | $2,715,000 | $1,705,000 | -37.2% | 0.2% |
| LENDSURE MORTGAGE CORP. | $2,565,000 | $1,660,000 | -35.3% | 0.2% |
| Cornerstone Bank | $1,605,000 | n/a | 0.2% | |
| DIGITAL Federal Credit Union | $2,115,000 | $1,550,000 | -26.7% | 0.2% |
| NEWREZ LLC | $2,100,000 | $1,475,000 | -29.8% | 0.1% |
| Bank Rhode Island | $1,425,000 | n/a | 0.1% | |
| Main Street Bank | $1,100,000 | $1,405,000 | 27.7% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $345,000 | $1,330,000 | 285.5% | 0.1% |
| Bangor Savings Bank | $1,910,000 | $1,275,000 | -33.2% | 0.1% |
| The Federal Savings Bank | $1,375,000 | $1,245,000 | -9.5% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $525,000 | $1,150,000 | 119.0% | 0.1% |
| NBKC BANK | $265,000 | $1,150,000 | 334.0% | 0.1% |
| SILVER HILL FUNDING, LLC | $1,085,000 | n/a | 0.1% | |
| REVERSE MORTGAGE FUNDING LLC | $970,000 | $1,075,000 | 10.8% | 0.1% |
| CALIBER HOME LOANS, INC. | $960,000 | $1,070,000 | 11.5% | 0.1% |
| HOMEXPRESS MORTGAGE CORP. | $1,055,000 | n/a | 0.1% | |
| A&D Mortgage LLC | $1,035,000 | n/a | 0.1% | |
| Northpointe Bank | $615,000 | $975,000 | 58.5% | 0.1% |
| WASHINGTON TRUST MORTGAGE COMPANY LLC | $8,640,000 | $965,000 | -88.8% | 0.1% |
| AMERICAN EAGLE FINANCIAL CREDIT UNION | $1,430,000 | $915,000 | -36.0% | 0.1% |
| FREEDOM MORTGAGE CORPORATION | $2,070,000 | $870,000 | -58.0% | 0.1% |
| BankNewport | $850,000 | n/a | 0.1% | |
| ServisFirst Bank | $1,510,000 | $785,000 | -48.0% | 0.1% |
| Needham Bank | $2,415,000 | $750,000 | -68.9% | 0.1% |
| First National Bank of America | $1,920,000 | $735,000 | -61.7% | 0.1% |
| NORTHEAST HOME LOAN, LLC | $465,000 | $725,000 | 55.9% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $655,000 | $675,000 | 3.1% | 0.1% |
| METRO | $2,205,000 | $655,000 | -70.3% | 0.1% |
| M&T Bank | $2,005,000 | $655,000 | -67.3% | 0.1% |
| Quontic Bank | $2,495,000 | $655,000 | -73.7% | 0.1% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $2,405,000 | $645,000 | -73.2% | 0.1% |
| Mortgage Research Center, LLC | $725,000 | $635,000 | -12.4% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $9,055,000 | $630,000 | -93.0% | 0.1% |
| UniBank for Savings | $3,200,000 | $610,000 | -80.9% | 0.1% |
| CANOPY MORTGAGE, LLC | $605,000 | n/a | 0.1% | |
| People's United Bank | $2,685,000 | $605,000 | -77.5% | 0.1% |
| United Nations Federal Credit Union | $605,000 | n/a | 0.1% | |
| Jeanne D'Arc Credit Union | $585,000 | n/a | 0.1% | |
| UNITED WHOLESALE MORTGAGE, LLC | $17,330,000 | $535,000 | -96.9% | 0.1% |
| HARVARD UNIVERSITY EMPLOYEES | $525,000 | n/a | 0.1% | |
| LEADERONE FINANCIAL CORPORATION | $515,000 | n/a | 0.0% | |
| CONWAY FINANCIAL SERVICES, LLC | $505,000 | n/a | 0.0% | |
| Flagstar Bank, FSB | $630,000 | $505,000 | -19.8% | 0.0% |
| The Huntington National Bank | $505,000 | n/a | 0.0% | |
| SOFI LENDING CORP. | $495,000 | n/a | 0.0% | |
| DRAPER AND KRAMER MORTGAGE CORP. | $1,635,000 | $455,000 | -72.2% | 0.0% |
| Poli Mortgage Group, Inc. | $930,000 | $455,000 | -51.1% | 0.0% |
| Mr. Cooper ( Nationstar Mortgage ) | $3,080,000 | $445,000 | -85.6% | 0.0% |
| MID-ISLAND MORTGAGE CORP. | $435,000 | n/a | 0.0% | |
| Liberty Bank | $405,000 | n/a | 0.0% | |
| BETTER MORTGAGE CORPORATION | $345,000 | n/a | 0.0% | |
| FIRST CITIZENS' FEDERAL CREDIT UNION | $335,000 | n/a | 0.0% | |
| ROCKLAND | $335,000 | n/a | 0.0% | |
| HANSCOM | $1,345,000 | $310,000 | -77.0% | 0.0% |
| Axos Bank | $285,000 | n/a | 0.0% | |
| Milford Federal Bank | $285,000 | n/a | 0.0% | |
| Service Federal Credit Union | $280,000 | n/a | 0.0% | |
| AMWEST FUNDING CORP. | $765,000 | $275,000 | -64.1% | 0.0% |
| Salem Five Cents Savings Bank | $175,000 | n/a | 0.0% | |
| Third Federal Savings and Loan Association of Cleveland | $170,000 | n/a | 0.0% | |
| LENOX FINANCIAL MORTGAGE CORPORATION | $155,000 | n/a | 0.0% | |
| QUINCY CREDIT UNION | $445,000 | $135,000 | -69.7% | 0.0% |
| Workers Credit Union | $105,000 | n/a | 0.0% | |
| Discover Bank | $55,000 | n/a | 0.0% |
Vineyard Haven's top lender by overall market share is Martha's Vineyard Savings Bank, with 16.8% market share. In second place, with 13.0%, is The Cape Cod Five Cents Savings Bank, having originated $133,845,000 in loans. In third place, with 10.3%, is First Republic Bank, having originated $106,075,000 in loans. In fourth place, with 9.7%, is Bank of America, having originated $100,325,000 in loans. In fifth place, with 7.9%, is JPMorgan Chase Bank, having originated $80,905,000 in loans.
Vineyard Haven, MA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 280 | $381,730,000 | $1,363,321 |
| Refi | 228 | $213,190,000 | $935,044 |
| Cash Out Refi | 184 | $194,940,000 | $1,059,457 |
| Home Improvement | 127 | $51,725,000 | $407,283 |
| Other | 109 | $188,675,000 | $1,730,963 |
Vineyard Haven's most frequently cited loan purpose was Home Purchase, with 280 originations. The 2nd most popular reason was Refi, with 228 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 279 | $273,515,000 | $980,341 |
| 4-5% | 148 | $149,770,000 | $1,011,959 |
| 2.5-3% | 121 | $211,485,000 | $1,747,810 |
| 5-6% | 70 | $58,090,000 | $829,857 |
| <2.5% | 62 | $122,970,000 | $1,983,387 |
| 6-7% | 33 | $18,915,000 | $573,182 |
| 7-8% | 17 | $8,235,000 | $484,412 |
| Over 8% | 7 | $8,475,000 | $1,210,714 |
During 2022, Vineyard Haven's most frequently originated rate bucket was 3-4%, with 279 originations.
Loan Sizing (Vineyard Haven, MA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $Over $1MM | 304 | $742,130,000 | $2,441,217 |
| $600k-1000k | 199 | $152,745,000 | $767,563 |
| $400k-600k | 159 | $77,835,000 | $489,528 |
| $200k-400k | 154 | $44,350,000 | $287,987 |
| $100k-200k | 78 | $10,860,000 | $139,231 |
| $100,000 or less | 34 | $2,340,000 | $68,824 |
Vineyard Haven's loan sizing saw the bucket of loans from $Over $1MM with 304 originations, totaling $742,130,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 60-80% | 174 | $365,160,000 | $2,098,621 |
| 20-40% | 172 | $129,990,000 | $755,756 |
| Under 20% | 155 | $38,425,000 | $247,903 |
| 40-60% | 146 | $189,080,000 | $1,295,068 |
| 80-100% | 89 | $128,575,000 | $1,444,663 |
Vineyard Haven's loan sizing saw loans grouped in the 60-80% Loan-to-value bucket with 174 originations, totaling $365,160,000 in origination value.