Methuen Cooperative Bank Mortgage Rates, Fees & Info
Methuen, MALEI: 2549007JFUKTY2NW6090
Tax ID: 04-1615835
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Methuen Cooperative Bank is a smaller bank specializing in Home Purchase loans. Methuen Cooperative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, and Manchester among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Methuen Cooperative Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
42Origination Dollar Volume (All Markets)
$14,390,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 40 | $13,160,000 | $329,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Methuen Cooperative Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 40
Similarity Rank: 130
Similarity Rank: 160
Similarity Rank: 177
Similarity Rank: 195
Similarity Rank: 220
Similarity Rank: 276
Similarity Rank: 284
Similarity Rank: 320
Similarity Rank: 340
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 42 | $14,390,000 | $342,619 | $0 | 0.00% |
For 2023, Methuen Cooperative Bank's most frequently originated type of loan was Conventional, with 42 originations.
Loan Reason
For 2023, Methuen Cooperative Bank's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Other, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 42 | $14,390,000 | $342,619 | $0 | 0.00% |
For 2023, Methuen Cooperative Bank's most frequently cited loan duration was Other, with 42 originations.
Loan Sizing
2023 saw Methuen Cooperative Bank place emphasis on $200k-400k loans with 16 originations, totaling $4,620,000 in origination value.
Applicant Income
Methuen Cooperative Bank lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $250k+, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 42 | $14,390,000 | $342,619 | $0 | 0.00% |
Methuen Cooperative Bank lent most frequently to those with DTI ratios of Exempt%, with 42 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.00%
Methuen Cooperative Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination85.71%
Methuen Cooperative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 42 | $14,390,000 | $342,619 |