Fidelity Co-operative Bank Mortgage Rates, Fees & Info
Leominster, MALEI: 5493004LN4GS7BNXIO13
Tax ID: 20-5791745
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Mortgage Data
Review & Overview
Fidelity Co-operative Bank is a smaller bank specializing in Home Improvement and Home Purchase loans. Fidelity Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Providence, Springfield, and Barnstable Town among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Fidelity Co-operative Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fidelity 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.33% | 4/5/25 |
| 30 Year Conventional Purchase | 6.97% | 4/5/25 |
| 30 Year Conventional Refi | 5.64% | 4/5/25 |
| 30 Year Cash-out Refi | 7.10% | 4/5/25 |
| 15 Year Conventional Purchase | 3.11% | 4/5/25 |
| 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. | ||
Fidelity 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
384Origination Dollar Volume (All Markets)
$89,050,000Relative Rate
Fidelity Co-operative Bank's average 30 year fixed mortgage rate was
6.52%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.03%.
Relative Fees (Closing Costs)
Fidelity Co-operative Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,018.
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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 260 | $51,460,000 | $197,923 | $3,474 | 6.37% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 88 | $24,980,000 | $283,864 | $3,859 | 6.41% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $5,540,000 | $2,770,000 | $0 | 7.53% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 12 | $2,130,000 | $177,500 | $3,798 | 5.54% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 7 | $2,055,000 | $293,571 | $0 | 6.28% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $1,982 | 6.52% |
| Keene, NH (FHA|USDA|VA) | 6 | $900,000 | $150,000 | $1,055 | 6.22% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 5.99% |
| Concord, NH (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 7.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 8.00% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 7.49% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Fidelity 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 |
|---|---|---|---|---|---|
| HELOC | 221 | $36,085,000 | $163,281 | n/a | 6.19% |
| Conventional | 163 | $52,965,000 | $324,939 | $3,381 | 6.60% |
For 2024, Fidelity Co-operative Bank's most frequently originated type of loan was HELOC, with 221 originations. Their 2nd most popular type was Conventional, with 163 originations.
Loan Reason
For 2024, Fidelity Co-operative Bank's most frequently cited loan purpose was Home Improvement, with 124 originations. The 2nd most popular reason was Home Purchase, with 114 originations.
Loan Duration/Length
For 2024, Fidelity Co-operative Bank's most frequently cited loan duration was 20 Year, with 240 originations. The 2nd most popular length was 30 Year, with 82 originations.
Origination Fees/Closing Costs
Fidelity Co-operative Bank's average total fees were $6,018, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 104 originations.
Interest Rates
During 2024, Fidelity Co-operative Bank's average interest rate for loans was 6.52%, while their most frequently originated rate bucket for loans was 5-6%, with 208 originations.
Loan Sizing
2024 saw Fidelity Co-operative Bank place emphasis on $100,000 or less loans with 156 originations, totaling $8,370,000 in origination value.
Applicant Income
Fidelity Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $150k-250k, with 93 originations.
Applicant Debt to Income Ratio
Fidelity Co-operative Bank lent most frequently to those with DTI ratios of 30-36%, with 71 originations. The next most common DTI ratio? 20-30%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.44%
Fidelity Co-operative Bank has a below average approval rate.
Pick Rate
Approvals leading to origination82.81%
Fidelity Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 384 | $89,050,000 | $231,901 |