Walpole Co-operative Bank Mortgage Rates, Fees & Info
Walpole, MALEI: 5493003ZQY78H3VXMF14
Tax ID: 04-1943030
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Mortgage Data
Review & Overview
Walpole Co-operative Bank is a smaller bank specializing in Home Purchase loans. Walpole Co-operative Bank has a high proportion of conventional loans. Their top two markets are Boston and Providence .Walpole Co-operative Bank 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. Walpole Co-operative Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 5/25/25 |
| 30 Year Conventional Refi | 6.72% | 5/25/25 |
| 30 Year Cash-out Refi | 6.16% | 5/25/25 |
| 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. | ||
Walpole Co-operative Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
35Origination Dollar Volume (All Markets)
$50,955,000Relative Rate
Walpole Co-operative Bank's average 30 year fixed mortgage rate was
6.83%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.28%.
Relative Fees (Closing Costs)
Walpole Co-operative Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,156.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 | $49,150,000 | $1,445,588 | $3,156 | 7.69% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $1,805,000 | $1,805,000 | $0 | 6.35% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Walpole 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 | 35 | $50,955,000 | $1,455,857 | $3,156 | 7.65% |
For 2024, Walpole Co-operative Bank's most frequently originated type of loan was Conventional, with 35 originations.
Loan Reason
For 2024, Walpole Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
For 2024, Walpole Co-operative Bank's most frequently cited loan duration was Other, with 14 originations. The 2nd most popular length was 30+ year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $1,485,000 | $495,000 |
Walpole Co-operative Bank's average total fees were $3,156, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 19 | $32,815,000 | $1,727,105 |
| 6-7% | 10 | $12,340,000 | $1,234,000 |
| 7-8% | 5 | $5,425,000 | $1,085,000 |
| 5-6% | 1 | $375,000 | $375,000 |
During 2024, Walpole Co-operative Bank's average interest rate for loans was 6.83%, while their most frequently originated rate bucket for loans was Over 8%, with 19 originations.
Loan Sizing
2024 saw Walpole Co-operative Bank place emphasis on $1MM+ loans with 22 originations, totaling $43,190,000 in origination value.
Applicant Income
Walpole Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 1 originations. The second most popular income band? $150k-250k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1 | $345,000 | $345,000 | $2,421 | 7.38% |
| 41% | 1 | $375,000 | $375,000 | $2,470 | 6.00% |
| 46% | 1 | $765,000 | $765,000 | $4,576 | 6.50% |
Walpole Co-operative Bank lent most frequently to those with DTI ratios of 20-30%, with 1 originations. The next most common DTI ratio? 41%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.18%
Walpole Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination94.29%
Walpole Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 35 | $50,955,000 | $1,455,857 |