Norwood Co-operative Bank Mortgage Rates, Fees & Info

Norwood, MA

LEI: 54930034MXV88NNFY879

Tax ID: 27-2251017

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

Jump to:

Mortgage Data

Review & Overview

Norwood Co-operative Bank is a smaller bank specializing in Home Purchase and Refi loans. Norwood Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Worcester, and Barnstable Town 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.

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 6.36% 12/2/24
30 Year Conventional Refi 6.34% 12/2/24
30 Year Cash-out Refi 6.39% 12/2/24
15 Year Conventional Purchase 6.40% 12/2/24
15 Year Conventional Refi 5.89% 12/2/24
15 Year Cash-out Refi 5.89% 12/2/24
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.

Norwood Co-operative Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Norwood Co-operative Bank. 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

172

Origination Dollar Volume (All Markets)

$154,010,000

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) 143 $140,685,000 $983,811 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 20 $9,760,000 $488,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 7 $2,495,000 $356,429 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $1,070,000 $535,000 $0 0.00%
Norwood Co-operative Bank's top markets include Boston, Providence, Worcester, and Barnstable Town among others.

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

    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    GREYLOCK
    Similarity Rank: 160
    Piscataqua Savings Bank
    Similarity Rank: 177
    Cape Cod Co-operative Bank
    Similarity Rank: 195
    St. Mary's Credit Union
    Similarity Rank: 220
    ROCKLAND
    Similarity Rank: 276
    RIVER WORKS
    Similarity Rank: 284
    North Easton Savings Bank
    Similarity Rank: 340

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 172 $154,010,000 $895,407 $0 0.00%

    For 2023, Norwood Co-operative Bank's most frequently originated type of loan was Conventional, with 172 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 95 $92,145,000 $969,947 $0 0.00%
    Home Improvement 34 $8,640,000 $254,118 $0 0.00%
    Refi 21 $48,935,000 $2,330,238 $0 0.00%
    Cash Out Refi 12 $2,470,000 $205,833 $0 0.00%
    Other 10 $1,820,000 $182,000 $0 0.00%

    For 2023, Norwood Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Home Improvement, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 172 $154,010,000 $895,407 $0 0.00%

    For 2023, Norwood Co-operative Bank's most frequently cited loan duration was Other, with 172 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 38 $106,570,000 $2,804,474 $0 0.00%
    $100,000 or less 28 $1,550,000 $55,357 $0 0.00%
    $200k-400k 28 $8,000,000 $285,714 $0 0.00%
    $400k-600k 28 $14,420,000 $515,000 $0 0.00%
    $600k-1MM 27 $19,975,000 $739,815 $0 0.00%
    $100k-200k 23 $3,495,000 $151,957 $0 0.00%

    2023 saw Norwood Co-operative Bank place emphasis on $1MM+ loans with 38 originations, totaling $106,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 44 $13,030,000 $296,136 $0 0.00%
    $100k-150k 25 $6,045,000 $241,800 $0 0.00%
    $250k+ 24 $13,280,000 $553,333 $0 0.00%
    $75k-100k 8 $930,000 $116,250 $0 0.00%
    $50k-75k 6 $990,000 $165,000 $0 0.00%
    $50k or less 1 $95,000 $95,000 $0 0.00%

    Norwood Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 44 originations. The second most popular income band? $100k-150k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 172 $154,010,000 $895,407 $0 0.00%

    Norwood Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 172 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 63 $119,135,000 $1,891,032 $0 0.00%
    White 92 $28,490,000 $309,674 $0 0.00%
    Not provided 13 $4,415,000 $339,615 $0 0.00%
    Asian 4 $1,970,000 $492,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.73%

    Norwood Co-operative Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.88%

    Norwood Co-operative Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 172 $154,010,000 $895,407

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    172 $154,010,000 $895,407