Norwood Co-operative Bank Mortgage Rates, Fees & Info
Norwood, MALEI: 54930034MXV88NNFY879
Tax ID: 27-2251017
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Norwood Co-operative Bank is a smaller bank specializing in Home Purchase loans. Norwood Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Norwood Co-operative 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.
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Originations
131Origination Dollar Volume (All Markets)
$94,395,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 109 | $74,265,000 | $681,330 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 10 | $10,540,000 | $1,054,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 6 | $4,850,000 | $808,333 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 6 | $4,740,000 | $790,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Norwood Co-operative Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 131 | $94,395,000 | $720,573 | $0 | 0.00% |
For 2024, Norwood Co-operative Bank's most frequently originated type of loan was Conventional, with 131 originations.
Loan Reason
For 2024, Norwood Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Home Improvement, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 131 | $94,395,000 | $720,573 | $0 | 0.00% |
For 2024, Norwood Co-operative Bank's most frequently cited loan duration was Other, with 131 originations.
Loan Sizing
2024 saw Norwood Co-operative Bank place emphasis on $1MM+ loans with 32 originations, totaling $59,330,000 in origination value.
Applicant Income
Norwood Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 33 originations. The second most popular income band? $250k+, with 21 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 131 | $94,395,000 | $720,573 | $0 | 0.00% |
Norwood Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 131 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.59%
Norwood Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.02%
Norwood Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 131 | $94,395,000 | $720,573 |