Rockland Trust Company Mortgage Interest Rate and Cost Review

Is Rockland Trust Company a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Rockland Trust Company with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.04%)
Loan Related Closing Costslower than average (-$550)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.rocklandtrust.com

On average, Rockland Trust Company’s interest rates were similar to those of other lenders (-0.04%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$550. Overall, combining interest rates and closing costs we estimate that Rockland Trust Company tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Rockland Trust Company’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Rockland Trust Company was most active in:

  1. Boston, MA
  2. Providence, RI
  3. Manchester, NH
  4. Vineyard Haven, MA
  5. Springfield, MA

You can click through to check out Rockland Trust Company’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Rockland Trust Company’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, Rockland Trust Company 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.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboVA
Interest Rate Difference-0.13%-0.22%+0.12%-0.02%
Loan Related Closing Cost Difference-$333-$862+$21+$144
Cost Adjusted Rate Difference-0.14%-0.25%+0.12%-0.01%
Star Rating(4.0)(5.0)(3.0)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.06%-0.03%+0.08%-0.04%
Loan Related Closing Cost Difference-$768-$169+$245+$89
Cost Adjusted Rate Difference-0.01%-0.04%+0.08%-0.04%
Star Rating(3.5)(3.5)(3.0)(3.5)

As a summary, Rockland Trust Company is cheap for Conforming and FHA purchase mortgages. It is similar to other lenders for VA purchase mortgages. It is more expensive than other lenders for Jumbo purchase mortgages. For refinancing, Rockland Trust Company is similar to other lenders for Conforming, FHA and VA mortgage refinance. It is more expensive than 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 Rockland Trust Company:

Registered name: Rockland Trust Company
Registered city and state: Rockland, MA, 02370
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: INDEPENDENT BANK CORP.

* 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 Rockland Trust Company’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.