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 Cash Out Refi and 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 above average approval rate when compared to the average across all lenders. They have an above 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
44Origination Dollar Volume (All Markets)
$10,980,000Top 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) | 42 | $10,700,000 | $254,762 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $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: 118
Similarity Rank: 139
Similarity Rank: 310
Similarity Rank: 417
Similarity Rank: 435
Similarity Rank: 505
Similarity Rank: 525
Similarity Rank: 544
Similarity Rank: 570
Similarity Rank: 630
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 44 | $10,980,000 | $249,545 | $0 | 0.00% |
For 2019, Methuen Cooperative Bank's most frequently originated type of loan was Conventional, with 44 originations.
Loan Reason
For 2019, Methuen Cooperative Bank's most frequently cited loan purpose was Cash Out Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 44 | $10,980,000 | $249,545 | $0 | 0.00% |
For 2019, Methuen Cooperative Bank's most frequently cited loan duration was Other, with 44 originations.
Loan Sizing
2019 saw Methuen Cooperative Bank place emphasis on $200k-400k loans with 25 originations, totaling $6,965,000 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? $75k-100k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 44 | $10,980,000 | $249,545 | $0 | 0.00% |
Methuen Cooperative Bank lent most frequently to those with DTI ratios of Exempt%, with 44 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.92%
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 origination93.18%
Methuen Cooperative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 44 | $10,980,000 | $249,545 |