Walpole Co-operative Bank Mortgage Rates, Fees & Info
Walpole, MALEI: 5493003ZQY78H3VXMF14
Tax ID: 04-1943030
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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
59Origination Dollar Volume (All Markets)
$69,245,000Awards
Walpole Co-operative Bank - 2022
Walpole Co-operative Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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 | 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
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
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
2022 saw Walpole Co-operative Bank place emphasis on $1MM+ loans with 23 originations, totaling $52,405,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications100.00%
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 origination94.92%
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 |