# Somerville Bank

> **Canonical URL:** https://saferate.com/lenders/somerville-bank


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Somerville Bank is a bank, headquartered in Eaton, OH, serving borrowers across 3 states, with 83 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 28% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 56% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300FHRL270LZY2I23
- **Headquarters:** Eaton, OH
- **Geographic Reach:** Regional
- **States Served:** 3
- **State List:** FL, IN, OH
- **Markets (MSAs):** 2
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Strong 😀
- Score: 72/100
- Rating: ●●●●○ (4/5)

### Pull Through: Sound ☺️
- Score: 44/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** +0.083%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,251
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 83
- **Dollar Volume:** $16 million
- **Applications Received:** 96
- **Market Share:** 0.00%

## Typical Borrower Profile

- **Average Loan Amount:** $190,663
- **Average Borrower Income:** $111,578
- **Average Property Value:** $292,229

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 29/100 | 80 | +0.062% | $1,215 | Acceptable 🙂 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 54 loans, Score: 27/100 (Acceptable)
- Refinance: 26 loans, Score: 37/100 (Acceptable)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 27/100 | 55 | $12M | +0.022% | Acceptable 🙂 |
| Refinance | 35/100 | 28 | $4M | +0.210% | Acceptable 🙂 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| OH | 65 | 0.05% | 64/100 |
| IN | 17 | 0.02% | 49/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 42 | 49/100 |
| Cincinnati, OH |  | 33 | 62/100 |

## Frequently Asked Questions

### What loan types does Somerville Bank offer?

Somerville Bank offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Somerville Bank offer mortgages?

Somerville Bank offers mortgages in 3 states: FL, IN, OH.

### How competitive are Somerville Bank's mortgage rates?

Somerville Bank has a pricing score of 72/100 (Strong), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.083% above market average.

### What type of lender is Somerville Bank?

Somerville Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Eaton, OH.

### What is Somerville Bank's loan approval success rate?

Somerville Bank has a pull-through score of 44/100 (Sound). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/somerville-bank

### How to Cite

> "Somerville Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/somerville-bank

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