Vineyard Haven Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Vineyard Haven averaged
6.02%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
5.82% and
one month ago for the week of 2024-09-05, the
average rate was 6.25%.
Vineyard Haven's average rate one year ago was 7.39%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.52%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
| Vineyard Haven 30 Year Fixed Rate | 2024-10-10 | 6.02% |
| Vineyard Haven 30 Year Fixed Rate Refi | 2024-10-10 | 6.52% |
| Vineyard Haven 15 Year Fixed Rate | 2024-10-10 | 5.31% |
| Vineyard Haven 15 Year Fixed Rate Refi | 2024-10-10 | 5.31% |
| Vineyard Haven 30 Year FHA | 2024-10-10 | 6.1% |
| Vineyard Haven 30 Year FHA Refi | 2024-10-10 | 6.3% |
| Vineyard Haven 30 Year VA | 2024-10-10 | 5.95% |
| Vineyard Haven 30 Year VA Refi | 2024-10-10 | 5.75% |
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 46 lenders originated 471
loans during 2023. The total origination value was $472,325,000, with an average loan value of
$1,002,813.
Vineyard Haven's average closing costs are $6,426.
The top Vineyard Haven lender as defined by loan originations is The Cape Cod Five Cents Savings Bank, with
43 loans originated. Their average total fees are
$5,920, which is $131
lower than the next largest lender,
BAYCOAST MORTGAGE COMPANY, LLC.
The lowest fee Vineyard Haven lenders (with over 10 loans originated) are
The Cape Cod Five Cents Savings Bank ($5,920), BAYCOAST MORTGAGE COMPANY, LLC ($6,051), Rockland Trust Company ($6,404), JPMorgan Chase Bank ($8,665) and .
The lowest rate Vineyard Haven lenders (with over 10 loans originated) are
JPMorgan Chase Bank (5.90%), Rockland Trust Company (6.13%), The Cape Cod Five Cents Savings Bank (6.41%), BAYCOAST MORTGAGE COMPANY, LLC (6.80%) and .
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Martha's Vineyard Savings Bank | $173,145,000 | $62,525,000 | -63.9% | 13.2% |
| JPMorgan Chase Bank | $80,905,000 | $55,600,000 | -31.3% | 11.8% |
| The Cape Cod Five Cents Savings Bank | $133,845,000 | $52,545,000 | -60.7% | 11.1% |
| Citibank | $14,410,000 | $41,235,000 | 186.2% | 8.7% |
| Bank of America | $100,325,000 | $35,000,000 | -65.1% | 7.4% |
| Rockland Trust Company | $52,775,000 | $25,800,000 | -51.1% | 5.5% |
| First-Citizens Bank & Trust Company | $25,660,000 | n/a | 5.4% | |
| BAYCOAST MORTGAGE COMPANY, LLC | $6,275,000 | $12,530,000 | 99.7% | 2.7% |
| TD Bank | $4,180,000 | $10,785,000 | 158.0% | 2.3% |
| Morgan Stanley Private Bank | $41,280,000 | $9,225,000 | -77.7% | 2.0% |
| Wells Fargo Bank | $39,750,000 | $8,340,000 | -79.0% | 1.8% |
| Goldman Sachs Bank USA | $10,365,000 | $7,415,000 | -28.5% | 1.6% |
| Citizens Bank | $22,625,000 | $6,710,000 | -70.3% | 1.4% |
| BayCoast Bank | $2,920,000 | $6,415,000 | 119.7% | 1.4% |
| Raymond James Bank | $5,390,000 | n/a | 1.1% | |
| Leader Bank | $2,870,000 | $5,200,000 | 81.2% | 1.1% |
| Citadel Servicing Corporation | $4,355,000 | n/a | 0.9% | |
| Berkshire Bank | $3,155,000 | n/a | 0.7% | |
| City National Bank | $4,720,000 | $3,150,000 | -33.3% | 0.7% |
| First Republic Bank | $106,075,000 | $3,090,000 | -97.1% | 0.7% |
| Enterprise Bank and Trust Company | $3,005,000 | n/a | 0.6% | |
| FINANCE OF AMERICA REVERSE LLC | $1,330,000 | $2,945,000 | 121.4% | 0.6% |
| OCMBC, INC. | $2,875,000 | n/a | 0.6% | |
| M&T Bank | $655,000 | $2,815,000 | 329.8% | 0.6% |
| AMERICAN HERITAGE LENDING, INC. | $2,700,000 | n/a | 0.6% | |
| Main Street Bank | $1,405,000 | $2,590,000 | 84.3% | 0.5% |
| BMO Harris Bank | $4,005,000 | $2,565,000 | -36.0% | 0.5% |
| AMWEST FUNDING CORP. | $275,000 | $2,525,000 | 818.2% | 0.5% |
| GUARANTEED RATE, INC. | $5,960,000 | $2,465,000 | -58.6% | 0.5% |
| U.S. Bank | $6,400,000 | $2,360,000 | -63.1% | 0.5% |
| OAKTREE FUNDING CORP. | $2,305,000 | n/a | 0.5% | |
| Institution for Savings in Newburyport and Its Vicinity | $2,295,000 | n/a | 0.5% | |
| Avidia Bank | $2,245,000 | n/a | 0.5% | |
| Monson Savings Bank | $3,240,000 | $2,240,000 | -30.9% | 0.5% |
| Stifel Bank and Trust | $4,600,000 | $2,205,000 | -52.1% | 0.5% |
| First Horizon Bank | $2,010,000 | n/a | 0.4% | |
| ALLIED MORTGAGE GROUP, INC. | $2,455,000 | $1,975,000 | -19.6% | 0.4% |
| First National Bank of America | $735,000 | $1,975,000 | 168.7% | 0.4% |
| EagleBank | $1,755,000 | n/a | 0.4% | |
| Fall River Five Cents Savings Bank | $4,765,000 | $1,755,000 | -63.2% | 0.4% |
| Eastern Bank | $3,425,000 | $1,660,000 | -51.5% | 0.4% |
| UniBank for Savings | $610,000 | $1,655,000 | 171.3% | 0.4% |
| Webster Bank | $3,380,000 | $1,655,000 | -51.0% | 0.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $535,000 | $1,520,000 | 184.1% | 0.3% |
| Cornerstone Bank | $1,605,000 | $1,505,000 | -6.2% | 0.3% |
| Northpointe Bank | $975,000 | $1,505,000 | 54.4% | 0.3% |
| The Savings Bank | $1,405,000 | n/a | 0.3% | |
| QUICKEN LOANS, LLC | $15,270,000 | $1,350,000 | -91.2% | 0.3% |
| LONGBRIDGE FINANCIAL, LLC | $1,330,000 | n/a | 0.3% | |
| VELOCITY COMMERCIAL CAPITAL, LLC | $1,275,000 | n/a | 0.3% | |
| Winter Hill Bank, FSB | $1,205,000 | n/a | 0.3% | |
| DREW MORTGAGE ASSOCIATES, INC. | $1,085,000 | n/a | 0.2% | |
| CROSSCOUNTRY MORTGAGE, LLC | $2,460,000 | $1,080,000 | -56.1% | 0.2% |
| FREEDOM MORTGAGE CORPORATION | $870,000 | $955,000 | 9.8% | 0.2% |
| Barrington Bank & Trust Company, N.A. | $950,000 | n/a | 0.2% | |
| Bangor Savings Bank | $1,275,000 | $865,000 | -32.2% | 0.2% |
| PNC Bank | $8,375,000 | $845,000 | -89.9% | 0.2% |
| NP, Inc. | $825,000 | n/a | 0.2% | |
| UBS Bank USA | $16,635,000 | $805,000 | -95.2% | 0.2% |
| Dedham Institution for Savings | $4,600,000 | $745,000 | -83.8% | 0.2% |
| WASHINGTON TRUST MORTGAGE COMPANY LLC | $965,000 | $735,000 | -23.8% | 0.2% |
| ServisFirst Bank | $785,000 | $705,000 | -10.2% | 0.1% |
| A&D Mortgage LLC | $1,035,000 | $695,000 | -32.9% | 0.1% |
| EMM LOANS LLC | $635,000 | n/a | 0.1% | |
| Figure Lending LLC | $625,000 | n/a | 0.1% | |
| BNY Mellon | $5,490,000 | $605,000 | -89.0% | 0.1% |
| Firstrust Savings Bank | $555,000 | n/a | 0.1% | |
| Keystone Funding, Inc. | $555,000 | n/a | 0.1% | |
| AMERICAN FEDERAL MORTGAGE CORPORATION | $545,000 | n/a | 0.1% | |
| South Shore Bank | $465,000 | n/a | 0.1% | |
| GUARANTEED RATE AFFINITY, LLC | $455,000 | n/a | 0.1% | |
| LIBERTY HOME MORTGAGE CORPORATION | $445,000 | n/a | 0.1% | |
| Newburyport Five Cents Savings Bank | $425,000 | n/a | 0.1% | |
| Evolve Bank & Trust | $415,000 | n/a | 0.1% | |
| Salem Five Cents Savings Bank | $175,000 | $405,000 | 131.4% | 0.1% |
| Fidelity Co-operative Bank | $395,000 | n/a | 0.1% | |
| HANSCOM | $310,000 | $380,000 | 22.6% | 0.1% |
| HOMEXPRESS MORTGAGE CORP. | $1,055,000 | $355,000 | -66.4% | 0.1% |
| HARVARD UNIVERSITY EMPLOYEES | $525,000 | $350,000 | -33.3% | 0.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,950,000 | $325,000 | -83.3% | 0.1% |
| State Department Federal Credit Union | $305,000 | n/a | 0.1% | |
| Service Federal Credit Union | $280,000 | $300,000 | 7.1% | 0.1% |
| FIRST CITIZENS' FEDERAL CREDIT UNION | $335,000 | $255,000 | -23.9% | 0.1% |
| LIBERTY BAY CREDIT UNION | $255,000 | n/a | 0.1% | |
| Workers Credit Union | $105,000 | $255,000 | 142.9% | 0.1% |
| Southern Mass Credit Union | $245,000 | n/a | 0.1% | |
| The Washington Trust Company, of Westerly | $225,000 | n/a | 0.0% | |
| PENNYMAC LOAN SERVICES, LLC | $2,340,000 | $205,000 | -91.2% | 0.0% |
| Waterstone Mortgage Corporation | $175,000 | n/a | 0.0% | |
| Easthampton Savings Bank | $155,000 | n/a | 0.0% | |
| DIGITAL Federal Credit Union | $1,550,000 | $150,000 | -90.3% | 0.0% |
| Flagstar Bank, FSB | $505,000 | $105,000 | -79.2% | 0.0% |
| Bristol County Savings Bank | $85,000 | n/a | 0.0% | |
| Metrowest Community Federal Credit Union | $65,000 | n/a | 0.0% |
Vineyard Haven's top lender by overall market share is Martha's Vineyard Savings Bank, with 13.2% market share. In second place, with 11.8%, is JPMorgan Chase Bank, having originated $55,600,000 in loans. In third place, with 11.1%, is The Cape Cod Five Cents Savings Bank, having originated $52,545,000 in loans. In fourth place, with 8.7%, is Citibank, having originated $41,235,000 in loans. In fifth place, with 7.4%, is Bank of America, having originated $35,000,000 in loans.
Vineyard Haven, MA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 233 | $290,175,000 | $1,245,386 |
| Home Improvement | 81 | $26,055,000 | $321,667 |
| Cash Out Refi | 55 | $31,455,000 | $571,909 |
| Other | 54 | $93,200,000 | $1,725,926 |
| Refi | 48 | $31,440,000 | $655,000 |
Vineyard Haven's most frequently cited loan purpose was Home Purchase, with 233 originations. The 2nd most popular reason was Home Improvement, with 81 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 100 | $108,930,000 | $1,089,300 |
| Over 8% | 97 | $43,455,000 | $447,990 |
| 7-8% | 94 | $65,470,000 | $696,489 |
| 5-6% | 76 | $110,820,000 | $1,458,158 |
| 4-5% | 15 | $59,155,000 | $3,943,667 |
| 3-4% | 3 | $2,375,000 | $791,667 |
| 2.5-3% | 1 | $9,755,000 | $9,755,000 |
During 2023, Vineyard Haven's most frequently originated rate bucket was 6-7%, with 100 originations.
Loan Sizing (Vineyard Haven, MA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $Over $1MM | 142 | $327,500,000 | $2,306,338 |
| $600k-1000k | 113 | $87,675,000 | $775,885 |
| $200k-400k | 86 | $24,150,000 | $280,814 |
| $400k-600k | 51 | $24,355,000 | $477,549 |
| $100k-200k | 48 | $6,790,000 | $141,458 |
| $100,000 or less | 31 | $1,855,000 | $59,839 |
Vineyard Haven's loan sizing saw the bucket of loans from $Over $1MM with 142 originations, totaling $327,500,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| Under 20% | 113 | $24,725,000 | $218,805 |
| 60-80% | 95 | $175,185,000 | $1,844,053 |
| 20-40% | 84 | $54,180,000 | $645,000 |
| 80-100% | 58 | $78,450,000 | $1,352,586 |
| 40-60% | 36 | $70,170,000 | $1,949,167 |
Vineyard Haven's loan sizing saw loans grouped in the Under 20% Loan-to-value bucket with 113 originations, totaling $24,725,000 in origination value.