Casco Mortgage Rates, Fees & Info

Gorham, ME

LEI: 254900VVCX7PR9KDCK83

Tax ID: 01-0243865

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Casco is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Casco has a high proportion of conventional loans. Their top two markets are Portland and Lewiston .

    Casco 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. Casco is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.61% 11/21/24
    30 Year Cash-out Refi 6.16% 11/21/24
    15 Year Conventional Purchase 5.23% 11/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Casco Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Casco. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    58

    Origination Dollar Volume (All Markets)

    $8,710,000

    Awards

    CASCO 30 Year Conventional Loans bronze
    Show all (1) awards

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 57 $8,545,000 $149,912 $2,744 4.11%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $165,000 $165,000 $3,180 3.38%
    Casco's top markets include Portland and Lewiston among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against CASCO based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    INFINITY Federal Credit Union
    Similarity Rank: 136
    CASCO
    Similarity Rank: 226
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 240
    Piscataqua Savings Bank
    Similarity Rank: 252
    CUMBERLAND COUNTY
    Similarity Rank: 464
    Kennebec Savings Bank
    Similarity Rank: 535
    Saco & Biddeford Savings Institution
    Similarity Rank: 556
    Cambridge Trust Company
    Similarity Rank: 585
    Bath Savings Institution
    Similarity Rank: 648
    Maine Savings Federal Credit Union
    Similarity Rank: 650

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 44 $7,720,000 $175,455 $2,759 3.82%
    HELOC 14 $990,000 $70,714 n/a 5.00%

    For 2021, Casco's most frequently originated type of loan was Conventional, with 44 originations. Their 2nd most popular type was HELOC, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 20 $1,090,000 $54,500 $320 5.14%
    Home Purchase 15 $4,545,000 $303,000 $3,809 3.30%
    Other 12 $580,000 $48,333 $267 3.96%
    Cash Out Refi 7 $1,835,000 $262,143 $3,549 3.46%
    Refi 4 $660,000 $165,000 $3,004 3.47%

    For 2021, Casco's most frequently cited loan purpose was Home Improvement, with 20 originations. The 2nd most popular reason was Home Purchase, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 16 $1,040,000 $65,000 $400 4.84%
    30 Year 15 $4,465,000 $297,667 $3,387 3.25%
    10 Year 13 $915,000 $70,385 $267 3.85%
    15 Year 7 $1,755,000 $250,714 $4,880 4.75%
    Other 4 $140,000 $35,000 $400 4.19%
    20 Year 3 $395,000 $131,667 $2,432 3.88%

    For 2021, Casco's most frequently cited loan duration was 5 Year, with 16 originations. The 2nd most popular length was 30 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 20 $4,560,000 $228,000
    $1k-2k 5 $1,185,000 $237,000
    $2k-3k 2 $440,000 $220,000
    $5k+ 1 $755,000 $755,000

    Casco's average total fees were $3,387, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 20 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 22 $4,490,000 $204,091
    4-5% 16 $1,070,000 $66,875
    2.5-3% 7 $2,445,000 $349,286
    5-6% 7 $335,000 $47,857
    <2.5% 5 $265,000 $53,000
    Over 8% 1 $105,000 $105,000

    During 2021, Casco's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 31 $1,415,000 $45,645 $300 4.43%
    $200k-400k 12 $3,490,000 $290,833 $3,403 3.40%
    $100k-200k 10 $1,340,000 $134,000 $3,081 4.46%
    $400k-600k 4 $1,710,000 $427,500 $3,446 3.00%
    $600k-1MM 1 $755,000 $755,000 $11,323 3.25%

    2021 saw Casco place emphasis on $100,000 or less loans with 31 originations, totaling $1,415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 20 $2,650,000 $132,500 $2,053 4.16%
    $100k-150k 13 $1,895,000 $145,769 $2,489 3.92%
    $50k or less 8 $800,000 $100,000 $2,450 4.17%
    $75k-100k 8 $1,950,000 $243,750 $4,634 3.83%
    $150k-250k 7 $1,045,000 $149,286 $3,304 4.54%
    $250k+ 1 $315,000 $315,000 $0 3.00%

    Casco lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 13 $1,095,000 $84,231 $1,327 4.68%
    30-36% 13 $1,645,000 $126,538 $2,723 3.86%
    <20% 7 $635,000 $90,714 $1,192 3.77%
    50-60% 5 $745,000 $149,000 $2,656 3.53%
    46% 4 $830,000 $207,500 $3,307 4.13%
    48% 3 $575,000 $191,667 $3,743 2.96%
    49% 2 $600,000 $300,000 $3,063 3.69%
    41% 2 $640,000 $320,000 $3,315 3.13%
    >60% 1 $755,000 $755,000 $11,323 3.25%
    36% 1 $125,000 $125,000 $0 5.00%
    37% 1 $415,000 $415,000 $3,352 3.00%
    38% 1 $105,000 $105,000 $0 9.75%
    40% 1 $55,000 $55,000 $0 4.25%
    42% 1 $25,000 $25,000 $0 5.00%
    43% 1 $25,000 $25,000 $400 5.75%
    45% 1 $385,000 $385,000 $3,502 2.88%

    Casco lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $8,710,000 $150,172 $2,759 4.10%

    Approval Rates

    Total approvals of all applications
    95.31%

    Casco 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
    96.55%

    Casco has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 58 $8,710,000 $150,172

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    58 $8,710,000 $150,172

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $885,000 $80,455 $2,345 4.86%
    40-60% 2 $470,000 $235,000 $4,408 3.00%
    60-80% 5 $1,925,000 $385,000 $5,195 3.68%
    80-100% 14 $4,200,000 $300,000 $3,410 3.21%
    Under 20% 25 $1,125,000 $45,000 $286 4.47%