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 Purchase loans. Fidelity Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Springfield, Boston, Barnstable Town, and Manchester among others. We have data for 9 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 an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/26/24 |
| 30 Year Conventional Purchase | 5.95% | 4/26/24 |
| 30 Year Conventional Refi | 6.34% | 4/26/24 |
| 30 Year Cash-out Refi | 6.74% | 4/26/24 |
| 30 Year FHA Purchase | 6.27% | 4/26/24 |
| 15 Year Conventional Purchase | 4.87% | 4/26/24 |
| 15 Year Conventional Refi | 5.94% | 4/26/24 |
| 15 Year Cash-out Refi | 5.94% | 4/26/24 |
| 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. | ||
Fidelity Co-operative Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Fidelity Co-operative Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
377Origination Dollar Volume (All Markets)
$79,945,000Relative Rate
Fidelity Co-operative Bank's average 30 year fixed mortgage rate was
6.8%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.32%.
Relative Fees (Closing Costs)
Fidelity Co-operative Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,428.
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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 267 | $39,165,000 | $146,685 | $2,377 | 5.77% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 5 | $21,515,000 | $4,303,000 | $977 | 6.68% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 83 | $14,415,000 | $173,675 | $3,456 | 5.61% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 6 | $2,090,000 | $348,333 | $5,561 | 5.83% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 8 | $1,000,000 | $125,000 | $2,607 | 5.49% |
| Keene, NH (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $6,364 | 5.29% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 3.49% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 5.99% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,374 | 6.88% |
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 | 211 | $27,435,000 | $130,024 | n/a | 4.84% |
| Conventional | 166 | $52,510,000 | $316,325 | $2,653 | 6.87% |
For 2023, Fidelity Co-operative Bank's most frequently originated type of loan was HELOC, with 211 originations. Their 2nd most popular type was Conventional, with 166 originations.
Loan Reason
For 2023, Fidelity Co-operative Bank's most frequently cited loan purpose was Home Improvement, with 123 originations. The 2nd most popular reason was Home Purchase, with 88 originations.
Loan Duration/Length
For 2023, Fidelity Co-operative Bank's most frequently cited loan duration was 20 Year, with 235 originations. The 2nd most popular length was 30 Year, with 78 originations.
Origination Fees/Closing Costs
Fidelity Co-operative Bank's average total fees were $5,428, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 102 originations.
Interest Rates
During 2023, Fidelity Co-operative Bank's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 3-4%, with 95 originations.
Loan Sizing
2023 saw Fidelity Co-operative Bank place emphasis on $100,000 or less loans with 159 originations, totaling $8,325,000 in origination value.
Applicant Income
Fidelity Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 108 originations. The second most popular income band? $100k-150k, with 96 originations.
Applicant Debt to Income Ratio
Fidelity Co-operative Bank lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.79%
Fidelity Co-operative Bank has a below average approval rate.
Pick Rate
Approvals leading to origination85.15%
Fidelity Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 377 | $79,945,000 | $212,056 |