Is Leader Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Leader Bank with other lenders for comparable mortgages. Nationally, here is what we find:
|Interest Rate||lower than average (-0.13%)|
|Loan Related Closing Costs||lower than average (-$783)|
|National Rate and Closing Cost Rating||(4.5)|
On average, Leader Bank’s interest rates were lower than those of other lenders (-0.13%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$783. Overall, combining interest rates and closing costs we estimate that Leader Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5.0 stars.
Leader Bank’s Rates by Area
Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Leader Bank was most active in:
Furthermore, Leader Bank is our top ranked mortgage lender in terms of interest rate and closing costs in Boston, MA, for FHA mortgages.
You can click through to check out Leader Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.
Leader Bank’s Rates by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Leader Bank originated Conforming, FHA, Jumbo and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.
|New Purchase Mortgages||Conforming||FHA||Jumbo||VA|
|Interest Rate Difference||-0.15%||-0.22%||+0.03%||-0.07%|
|Loan Related Closing Cost Difference||-$223||-$706||+$203||-$55|
|Cost Adjusted Rate Difference||-0.16%||-0.25%||+0.03%||-0.07%|
|Interest Rate Difference||-0.13%||-0.04%||+0.06%||-0.10%|
|Loan Related Closing Cost Difference||-$1527||-$380||-$1028||-$1005|
|Cost Adjusted Rate Difference||-0.20%||-0.06%||+0.04%||-0.13%|
As a summary, Leader Bank is cheap for Conforming, FHA and VA purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing, Leader Bank is cheap for Conforming, FHA and VA mortgage refinance. It is similar to other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.
Other information about Leader Bank:
Registered city and state: Arlington, MA, 02474
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: LEADER BANCORP, INC
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Leader Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.