Middlesex Savings Bank Mortgage Interest Rate and Cost Review

Is Middlesex Savings Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Middlesex Savings Bank to those of other lenders for a comparable set of borrowers. Here is our review of Middlesex Savings Bank nationally:

Review ItemMiddlesex Savings Bank
Interest Ratesimilar to other lenders (-0.09%)
Loan Related Closing Costslower than other lenders (-$470)
National Rate and Closing Cost Star Rating(4)

On average, Middlesex Savings Bank’s interest rates were similar to those of other lenders (-0.09%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$470. Overall, combining interest rates and closing costs we estimate that Middlesex Savings Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Middlesex Savings Bank, its website is located at: https://middlesexbank.com.

Middlesex Savings Bank’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Middlesex Savings Bank was most active in:

  1. Boston, MA
  2. Providence, RI

Middlesex Savings Bank’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Middlesex Savings Bank originated Conforming and Jumbo mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingJumbo
Interest Rate Difference-0.13%+0.04%
Loan Related Closing Cost Difference-$340+$44
Cost Adjusted Rate Difference-0.16%+0.04%
National Star Rating(4.5)(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference-0.08%+0.01%
Loan Related Closing Cost Difference-$630+$188
Cost Adjusted Rate Difference-0.15%+0.01%
Average Star Rating(4.5)(3.5)

As a summary, Middlesex Savings Bank is cheap for Conforming purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing, Middlesex Savings Bank is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Middlesex Savings Bank:

Registered name: Middlesex Savings Bank
Registered city and state: NATICK, MA, 01760
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: MIDDLESEX BANCORP MHC

* 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 Middlesex Savings 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.