Casco Mortgage Rates, Fees & Info
Gorham, MELEI: 254900VVCX7PR9KDCK83
Tax ID: 01-0243865
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Mortgage Data
Review & Overview
Casco is a smaller mortgage company specializing in Home Improvement, Other, Home Purchase, and Cash Out Refi loans. Casco has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Lewiston, and Augusta among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Casco has an 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.61% | 4/28/24 |
| 30 Year Cash-out Refi | 6.16% | 4/28/24 |
| 15 Year Conventional Purchase | 5.23% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
76Origination Dollar Volume (All Markets)
$8,370,000Top 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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 68 | $7,520,000 | $110,588 | $2,084 | 4.53% |
| Outside of Metro Areas | 5 | $675,000 | $135,000 | $1,674 | 3.70% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $400 | 6.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $400 | 5.75% |
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.
Similarity Rank: 104
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Similarity Rank: 390
Similarity Rank: 400
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $6,955,000 | $114,016 | $1,934 | 4.34% |
| HELOC | 15 | $1,415,000 | $94,333 | n/a | 5.33% |
For 2022, Casco's most frequently originated type of loan was Conventional, with 61 originations. Their 2nd most popular type was HELOC, with 15 originations.
Loan Reason
For 2022, Casco's most frequently cited loan purpose was Home Improvement, with 36 originations. The 2nd most popular reason was Other, with 24 originations.
Loan Duration/Length
For 2022, Casco's most frequently cited loan duration was 10 Year, with 28 originations. The 2nd most popular length was 5 Year, with 22 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 11 | $3,785,000 | $344,091 |
| $2k-3k | 1 | $105,000 | $105,000 |
| $3k-4k | 1 | $215,000 | $215,000 |
Casco's average total fees were $3,717, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 11 originations.
Interest Rates
During 2022, Casco's average interest rate for loans was 5.16%, while their most frequently originated rate bucket for loans was 4-5%, with 22 originations.
Loan Sizing
2022 saw Casco place emphasis on $100,000 or less loans with 52 originations, totaling $2,710,000 in origination value.
Applicant Income
Casco lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $75k-100k, with 19 originations.
Applicant Debt to Income Ratio
Casco lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 14 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.89%
Casco has an average approval rate.
Pick Rate
Approvals leading to origination97.37%
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 | 76 | $8,370,000 | $110,132 |