Walpole Co-operative Bank Mortgage Rates, Fees & Info

Walpole, MA

LEI: 5493003ZQY78H3VXMF14

Tax ID: 04-1943030

5 stars - Updated: 9/25/23 - out of 5 stars, based on 8 reviews

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

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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 markets by origination volume include: Boston, Barnstable Town, and Providence among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.27% 9/25/23
30 Year Conventional Refi 6.91% 9/25/23
30 Year Cash-out Refi 6.23% 9/25/23
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






Your Estimates

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

This is not an official calculator from Walpole 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

59

Origination Dollar Volume (All Markets)

$69,245,000

Awards

Walpole Co-operative Bank 30 Year Conventional Loans gold Walpole Co-operative Bank 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Walpole Co-operative Bank's average 30 year fixed mortgage rate was 4.7%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.06%.

Relative Fees (Closing Costs)

Walpole Co-operative Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,613.

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 $4,750.

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) 56 $67,470,000 $1,204,821 $2,377 5.14%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $1,225,000 $1,225,000 $0 5.88%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $550,000 $275,000 $2,210 4.75%
Walpole Co-operative Bank's top markets include Boston, Barnstable Town, and Providence among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • 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 59 $69,245,000 $1,173,644 $2,343 5.13%

    For 2022, Walpole Co-operative Bank's most frequently originated type of loan was Conventional, with 59 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 38 $56,280,000 $1,481,053 $0 5.32%
    Refi 10 $8,190,000 $819,000 $2,673 4.66%
    Home Improvement 7 $3,705,000 $529,286 $0 5.57%
    Cash Out Refi 4 $1,070,000 $267,500 $2,261 3.75%

    For 2022, Walpole Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 24 $30,920,000 $1,288,333 $0 5.61%
    30 Year 16 $11,230,000 $701,875 $2,613 4.70%
    30+ year 10 $21,420,000 $2,142,000 $0 4.48%
    1 Year 4 $3,500,000 $875,000 $0 5.88%
    3 Year 3 $1,935,000 $645,000 $0 6.04%
    15 Year 2 $240,000 $120,000 $1,939 3.38%

    For 2022, Walpole Co-operative Bank's most frequently cited loan duration was Other, with 24 originations. The 2nd most popular length was 30 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 5 $1,565,000 $313,000

    Walpole Co-operative Bank's average total fees were $2,613, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 27 $30,645,000 $1,135,000
    4-5% 19 $14,145,000 $744,474
    3-4% 7 $17,105,000 $2,443,571
    6-7% 5 $7,265,000 $1,453,000
    2.5-3% 1 $85,000 $85,000

    During 2022, Walpole Co-operative Bank's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 5-6%, with 27 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 23 $52,405,000 $2,278,478 $0 5.29%
    $200k-400k 13 $3,955,000 $304,231 $2,210 4.80%
    $400k-600k 9 $4,785,000 $531,667 $2,815 5.41%
    $600k-1MM 9 $7,425,000 $825,000 $0 5.28%
    $100k-200k 4 $590,000 $147,500 $1,973 4.94%
    $100,000 or less 1 $85,000 $85,000 $1,904 3.00%

    2022 saw Walpole Co-operative Bank place emphasis on $1MM+ loans with 23 originations, totaling $52,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 6 $4,970,000 $828,333 $2,673 4.93%
    $100k-150k 2 $460,000 $230,000 $1,904 4.25%
    $150k-250k 2 $830,000 $415,000 $2,584 4.13%
    $75k-100k 1 $155,000 $155,000 $1,973 3.75%

    Walpole Co-operative Bank lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $100k-150k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 2 $580,000 $290,000 $2,289 4.50%
    <20% 1 $275,000 $275,000 $2,210 3.63%
    30-36% 1 $155,000 $155,000 $1,973 3.75%
    47% 1 $555,000 $555,000 $2,957 4.63%

    Walpole Co-operative Bank lent most frequently to those with DTI ratios of 20-30%, with 2 originations. The next most common DTI ratio? <20%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 48 $62,830,000 $1,308,958 $0 5.27%
    Not provided 7 $5,405,000 $772,143 $2,957 4.82%
    White 4 $1,010,000 $252,500 $2,190 4.09%

    Approval Rates

    Total approvals of all applications
    100.00%

    Walpole Co-operative Bank 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
    94.92%

    Walpole Co-operative Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 59 $69,245,000 $1,173,644

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    59 $69,245,000 $1,173,644

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $4,220,000 $422,000 $2,465 4.67%
    40-60% 16 $20,280,000 $1,267,500 $2,673 5.42%
    60-80% 24 $39,020,000 $1,625,833 $2,210 5.14%
    80-100% 3 $2,315,000 $771,667 $0 5.20%
    Under 20% 6 $3,410,000 $568,333 $1,904 5.08%