Methuen Cooperative Bank Mortgage Rates, Fees & Info

Methuen, MA

LEI: 2549007JFUKTY2NW6090

Tax ID: 04-1615835

Latest/2023 | 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 and Refi loans. Methuen Cooperative Bank has a high proportion of conventional loans. Their top (well, only) market is Boston.

    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.

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    Originations

    34

    Origination Dollar Volume (All Markets)

    $10,930,000

    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) 34 $10,930,000 $321,471 $0 0.00%
    Methuen Cooperative Bank's top markets include and Boston 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.

    QUINCY CREDIT UNION
    Similarity Rank: 50
    Direct Federal Credit Union
    Similarity Rank: 115
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    Middlesex Savings Bank
    Similarity Rank: 195
    Piscataqua Savings Bank
    Similarity Rank: 200
    ALIGN CREDIT UNION
    Similarity Rank: 200
    North Easton Savings Bank
    Similarity Rank: 348
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 357
    ROCKLAND
    Similarity Rank: 360
    Milford Federal Bank
    Similarity Rank: 364

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $10,930,000 $321,471 $0 0.00%

    For 2022, Methuen Cooperative Bank's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 16 $6,010,000 $375,625 $0 0.00%
    Refi 9 $2,755,000 $306,111 $0 0.00%
    Cash Out Refi 7 $1,885,000 $269,286 $0 0.00%
    Other 2 $280,000 $140,000 $0 0.00%

    For 2022, Methuen Cooperative Bank's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $10,930,000 $321,471 $0 0.00%

    For 2022, Methuen Cooperative Bank's most frequently cited loan duration was Other, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 15 $4,405,000 $293,667 $0 0.00%
    $100k-200k 12 $1,820,000 $151,667 $0 0.00%
    $400k-600k 4 $2,090,000 $522,500 $0 0.00%
    $600k-1MM 3 $2,615,000 $871,667 $0 0.00%

    2022 saw Methuen Cooperative Bank place emphasis on $200k-400k loans with 15 originations, totaling $4,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $2,220,000 $277,500 $0 0.00%
    $50k-75k 7 $1,975,000 $282,143 $0 0.00%
    $150k-250k 5 $1,585,000 $317,000 $0 0.00%
    $75k-100k 5 $1,325,000 $265,000 $0 0.00%
    $250k+ 4 $2,220,000 $555,000 $0 0.00%
    $50k or less 1 $285,000 $285,000 $0 0.00%

    Methuen Cooperative Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 34 $10,930,000 $321,471 $0 0.00%

    Methuen Cooperative Bank lent most frequently to those with DTI ratios of Exempt%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $7,430,000 $337,727 $0 0.00%
    Asian 7 $1,875,000 $267,857 $0 0.00%
    Not applicable 4 $1,320,000 $330,000 $0 0.00%
    Not provided 1 $305,000 $305,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.62%

    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 origination
    79.41%

    Methuen Cooperative Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 34 $10,930,000 $321,471

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    34 $10,930,000 $321,471