Methuen Cooperative Bank Mortgage Rates, Fees & Info

Methuen, MA

LEI: 2549007JFUKTY2NW6090

Tax ID: 04-1615835

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 two markets are Boston and Manchester .

    Methuen Cooperative Bank has an 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.

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    Originations

    22

    Origination Dollar Volume (All Markets)

    $7,140,000

    Top 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) 20 $6,370,000 $318,500 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $770,000 $385,000 $0 0.00%
    Methuen Cooperative Bank's top markets include Boston and Manchester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • 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.

    Piscataqua Savings Bank
    Similarity Rank: 100
    St. Mary's Credit Union
    Similarity Rank: 220
    ROCKLAND
    Similarity Rank: 240
    Sharon & Crescent United Credit Union
    Similarity Rank: 245
    UniBank for Savings
    Similarity Rank: 300
    Middlesex Savings Bank
    Similarity Rank: 320
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 357
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 364
    Workers Credit Union
    Similarity Rank: 390
    MERRIMACK VALLEY
    Similarity Rank: 407

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 22 $7,140,000 $324,545 $0 0.00%

    For 2024, Methuen Cooperative Bank's most frequently originated type of loan was Conventional, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 13 $4,385,000 $337,308 $0 0.00%
    Home Improvement 3 $1,085,000 $361,667 $0 0.00%
    Cash Out Refi 3 $1,115,000 $371,667 $0 0.00%
    Refi 2 $530,000 $265,000 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2024, Methuen Cooperative Bank's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Home Improvement, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 22 $7,140,000 $324,545 $0 0.00%

    For 2024, Methuen Cooperative Bank's most frequently cited loan duration was Other, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 10 $2,900,000 $290,000 $0 0.00%
    $400k-600k 5 $2,395,000 $479,000 $0 0.00%
    $100k-200k 4 $560,000 $140,000 $0 0.00%
    $600k-1MM 2 $1,260,000 $630,000 $0 0.00%
    $100,000 or less 1 $25,000 $25,000 $0 0.00%

    2024 saw Methuen Cooperative Bank place emphasis on $200k-400k loans with 10 originations, totaling $2,900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 6 $2,110,000 $351,667 $0 0.00%
    $150k-250k 6 $1,700,000 $283,333 $0 0.00%
    $250k+ 5 $2,195,000 $439,000 $0 0.00%
    $50k-75k 2 $320,000 $160,000 $0 0.00%
    $75k-100k 2 $670,000 $335,000 $0 0.00%
    $50k or less 1 $145,000 $145,000 $0 0.00%

    Methuen Cooperative Bank lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 22 $7,140,000 $324,545 $0 0.00%

    Methuen Cooperative Bank lent most frequently to those with DTI ratios of Exempt%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 18 $6,120,000 $340,000 $0 0.00%
    American Indian 2 $470,000 $235,000 $0 0.00%
    Not provided 1 $305,000 $305,000 $0 0.00%
    Asian 1 $245,000 $245,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.10%

    Methuen Cooperative Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.27%

    Methuen Cooperative Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 22 $7,140,000 $324,545

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    22 $7,140,000 $324,545