Walpole Co-operative Bank Mortgage Rates, Fees & Info

Walpole, MA

LEI: 5493003ZQY78H3VXMF14

Tax ID: 04-1943030

5 stars - Updated: 6/16/24 - out of 5 stars, based on 5 reviews

Latest/2023 | 2022 Data | 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 a below 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 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.

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 6.27% 6/16/24
30 Year Conventional Refi 6.91% 6/16/24
30 Year Cash-out Refi 6.23% 6/16/24
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.

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

29

Origination Dollar Volume (All Markets)

$39,105,000

Relative Rate

Walpole Co-operative Bank's average 30 year fixed mortgage rate was 5.78%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.7%.

Relative Fees (Closing Costs)

Walpole Co-operative Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,438.

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 $9,089.

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) 25 $36,755,000 $1,470,200 $3,559 6.66%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $1,875,000 $625,000 $2,508 6.17%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $475,000 $475,000 $3,520 5.75%
Walpole Co-operative Bank's top markets include Boston, Barnstable Town, and Providence among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 29 $39,105,000 $1,348,448 $3,438 6.58%

    For 2023, Walpole Co-operative Bank's most frequently originated type of loan was Conventional, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 23 $29,325,000 $1,275,000 $3,636 6.52%
    Home Improvement 3 $5,095,000 $1,698,333 $0 7.63%
    Refi 2 $3,960,000 $1,980,000 $2,508 5.44%
    Cash Out Refi 1 $725,000 $725,000 $2,981 7.00%

    For 2023, Walpole Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Home Improvement, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 12 $9,850,000 $820,833 $3,438 5.78%
    Other 10 $17,910,000 $1,791,000 $0 7.66%
    30+ year 6 $11,010,000 $1,835,000 $0 6.42%
    1 Year 1 $335,000 $335,000 $0 6.25%

    For 2023, Walpole Co-operative Bank's most frequently cited loan duration was 30 Year, with 12 originations. The 2nd most popular length was Other, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 9 $5,145,000 $571,667

    Walpole Co-operative Bank's average total fees were $3,438, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 9 $12,485,000 $1,387,222
    5-6% 7 $8,455,000 $1,207,857
    7-8% 7 $12,555,000 $1,793,571
    4-5% 3 $1,545,000 $515,000
    Over 8% 3 $4,065,000 $1,355,000

    During 2023, Walpole Co-operative Bank's average interest rate for loans was 5.78%, while their most frequently originated rate bucket for loans was 6-7%, with 9 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 13 $9,685,000 $745,000 $3,827 6.66%
    $1MM+ 10 $27,330,000 $2,733,000 $0 7.13%
    $200k-400k 4 $1,170,000 $292,500 $2,754 5.28%
    $400k-600k 2 $920,000 $460,000 $3,150 5.87%

    2023 saw Walpole Co-operative Bank place emphasis on $600k-1MM loans with 13 originations, totaling $9,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 6 $3,700,000 $616,667 $3,563 5.90%
    $100k-150k 3 $1,605,000 $535,000 $3,150 6.08%
    $150k-250k 2 $1,330,000 $665,000 $3,414 5.94%

    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 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 5 $2,905,000 $581,000 $3,393 5.55%
    <20% 1 $655,000 $655,000 $4,263 6.25%
    30-36% 1 $665,000 $665,000 $3,417 6.50%
    39% 1 $445,000 $445,000 $2,781 5.99%
    43% 1 $475,000 $475,000 $3,520 5.75%

    Walpole Co-operative Bank lent most frequently to those with DTI ratios of 20-30%, with 5 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 18 $32,470,000 $1,803,889 $0 6.96%
    White 8 $4,420,000 $552,500 $3,495 5.66%
    Not provided 3 $2,215,000 $738,333 $2,981 6.75%

    Approval Rates

    Total approvals of all applications
    97.62%

    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
    82.76%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 29 $39,105,000 $1,348,448

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    29 $39,105,000 $1,348,448

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $1,675,000 $558,333 $0 6.21%
    40-60% 5 $4,845,000 $969,000 $3,631 6.60%
    60-80% 15 $26,025,000 $1,735,000 $3,745 6.79%
    80-100% 4 $3,800,000 $950,000 $3,096 6.44%
    Under 20% 2 $2,760,000 $1,380,000 $2,508 5.81%