Fidelity Co-operative Bank Mortgage Rates, Fees & Info

Leominster, MA

LEI: 5493004LN4GS7BNXIO13

Tax ID: 20-5791745

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Mortgage Data

Bank Data

Review & Overview

Fidelity Co-operative Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Fidelity Co-operative Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Worcester, Boston, Manchester, Barnstable Town, and Springfield among others. We have data for 14 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.

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% 3/28/24
30 Year Conventional Purchase 5.95% 3/28/24
30 Year Conventional Refi 6.34% 3/28/24
30 Year Cash-out Refi 6.74% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
15 Year Conventional Purchase 4.87% 3/28/24
15 Year Conventional Refi 5.94% 3/28/24
15 Year Cash-out Refi 5.94% 3/28/24
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

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

This is not an official calculator from Fidelity 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

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Origination Dollar Volume (All Markets)

$196,990,000

Employee count

154

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) 495 $116,975,000 $236,313 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 175 $62,815,000 $358,943 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 14 $4,390,000 $313,571 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 12 $3,580,000 $298,333 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 12 $2,240,000 $186,667 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $2,060,000 $515,000 $0 0.00%
Keene, NH (FHA|USDA|VA) 7 $1,575,000 $225,000 $0 0.00%
Outside of Metro Areas 2 $1,460,000 $730,000 $0 0.00%
Vineyard Haven, MA (FHA|USDA|VA) 2 $890,000 $445,000 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
PITTSFIELD, MA (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Fidelity Co-operative Bank's top markets include Worcester, Boston, Manchester, Barnstable Town, and Springfield among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • 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
    Conventional 727 $196,735,000 $270,612 $0 0.00%
    USDA 1 $255,000 $255,000 $0 0.00%

    For 2020, Fidelity Co-operative Bank's most frequently originated type of loan was Conventional, with 727 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 337 $87,315,000 $259,095 $0 0.00%
    Cash Out Refi 200 $53,490,000 $267,450 $0 0.00%
    Home Purchase 179 $54,815,000 $306,229 $0 0.00%
    Home Improvement 7 $405,000 $57,857 $0 0.00%
    Other 5 $965,000 $193,000 $0 0.00%

    For 2020, Fidelity Co-operative Bank's most frequently cited loan purpose was Refi, with 337 originations. The 2nd most popular reason was Cash Out Refi, with 200 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 728 $196,990,000 $270,591 $0 0.00%

    For 2020, Fidelity Co-operative Bank's most frequently cited loan duration was Other, with 728 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 344 $95,940,000 $278,895 $0 0.00%
    $100k-200k 222 $34,920,000 $157,297 $0 0.00%
    $400k-600k 82 $38,780,000 $472,927 $0 0.00%
    $100,000 or less 54 $2,470,000 $45,741 $0 0.00%
    $600k-1MM 22 $15,710,000 $714,091 $0 0.00%
    $1MM+ 4 $9,170,000 $2,292,500 $0 0.00%

    2020 saw Fidelity Co-operative Bank place emphasis on $200k-400k loans with 344 originations, totaling $95,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 191 $52,995,000 $277,461 $0 0.00%
    $50k-75k 152 $27,930,000 $183,750 $0 0.00%
    $150k-250k 145 $49,275,000 $339,828 $0 0.00%
    $75k-100k 142 $30,030,000 $211,479 $0 0.00%
    $250k+ 52 $30,360,000 $583,846 $0 0.00%
    $50k or less 40 $5,220,000 $130,500 $0 0.00%

    Fidelity Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 191 originations. The second most popular income band? $50k-75k, with 152 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 728 $196,990,000 $270,591 $0 0.00%

    Fidelity Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 728 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 647 $174,985,000 $270,456 $0 0.00%
    Not provided 56 $14,000,000 $250,000 $0 0.00%
    Asian 10 $3,770,000 $377,000 $0 0.00%
    Black 11 $3,005,000 $273,182 $0 0.00%
    Asian Indian 2 $860,000 $430,000 $0 0.00%
    Not applicable 2 $370,000 $185,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.82%

    Fidelity Co-operative Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.34%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 728 $196,990,000 $270,591

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $185,000 $185,000
    Single Family (1-4 Units):Site-Built 727 $196,805,000 $270,708

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Fidelity National Financial, Inc Conventional home mortgage Closing on a mortgage 8 53.3%
    Fidelity National Financial, Inc Conventional home mortgage Incorrect information on your report 1 6.7%
    Fidelity National Financial, Inc Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 6.7%
    Fidelity National Financial, Inc Conventional home mortgage Struggling to pay mortgage 1 6.7%
    Fidelity National Financial, Inc Home equity loan or line of credit (HELOC) Closing on a mortgage 2 13.3%
    Fidelity National Financial, Inc Other type of mortgage Closing on a mortgage 1 6.7%
    Fidelity National Financial, Inc VA mortgage Closing on a mortgage 1 6.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fidelity Co-Operative Bank 1 School Square Winchendon, MA 1475 Full Service B&M $29,938
    Fidelity Co-Operative Bank 129 Chestnut Street Needham, MA 2492 Full Service B&M $43,509
    Fidelity Co-Operative Bank 130 Whalon Street Fitchburg, MA 1420 Full Service B&M $75,352
    Fidelity Co-Operative Bank 149 Great Road Stow, MA 1775 Full Service B&M $20,168
    Fidelity Co-Operative Bank 153 Front Street Worcester, MA 1608 Full Service B&M $56,039
    Fidelity Co-Operative Bank 16 South Main Street Millbury, MA 1527 Full Service B&M $59,834
    Fidelity Co-Operative Bank 206 Worcester Road Princeton, MA 1541 Full Service B&M $23,891
    Fidelity Co-Operative Bank 21 Main Street Shirley, MA 1464 Full Service B&M $71,284
    Fidelity Co-Operative Bank 465 Shrewsbury Street Worcester, MA 1604 Full Service B&M $128,976
    Fidelity Co-Operative Bank 56 Common St Barre, MA 1005 Full Service B&M $66,945
    Fidelity Co-Operative Bank 6 City Hall Avenue Gardner, MA 1440 Full Service B&M $93,568
    Fidelity Co-Operative Bank 713 Pleasant Street Paxton, MA 1612 Full Service B&M $38,257
    Fidelity Co-Operative Bank 75 Main St Leominster, MA 1453 Full Service B&M $100,549
    Fidelity Co-Operative Bank 9 Leominster Connector Leominster, MA 1453 Full Service Cyber Office $558
    Fidelity Co-Operative Bank 9 Leominster Connector Leominster, MA 1453 Full Service B&M $158,928

    For 2020, Fidelity Co-operative Bank had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $42,420
    Net interest income $36,201
    Total noninterest income $10,818
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $888
    Trading account gains and fees $0
    Additional Noninterest Income $9,930
    Pre-tax net operating income $-2,788
    Securities gains (or losses, -) $996
    Income before extraordinary items $239
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $239
    Minority interest net income $0
    Net income $239
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-547

    Fidelity Co-operative Bank's gross interest income from loans was $42,420,000.
    Fidelity Co-operative Bank's net interest income from loans was $36,201,000.
    Fidelity Co-operative Bank's fee based income from loans was $888,000.
    Fidelity Co-operative Bank's net income from loans was $239,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,219
    Provision for credit losses $4,394
    Total noninterest expense $45,413
    Salaries and employee benefits $17,987
    Premises and equipment expense $3,038
    Additional noninterest expense $24,388
    Applicable income taxes $-2,031
    Net charge-offs $81
    Cash dividends $250

    Fidelity Co-operative Bank's interest expense for loans was $6,219,000.
    Fidelity Co-operative Bank's payroll and benefits expense were $17,987,000.
    Fidelity Co-operative Bank's property, plant and equipment expenses $3,038,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $958,535
    Deposits held in domestic offices $958,535
    Deposits by Individuals, partnerships, and corporations $830,244
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $120,952
    Deposits by Commercial banks and other depository institutions in U.S. $7,339
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $77,005
    Demand deposits $60,591
    Nontransaction accounts $881,530
    Money market deposit accounts (MMDAs) $230,069
    Other savings deposits (excluding MMDAs) $494,308
    Total time deposits $157,153
    Total time and savings deposits $897,944
    Noninterest-bearing deposits $214,926
    Interest-bearing deposits $743,609
    Retail deposits $916,016
    IRAs and Keogh plan accounts $25,447
    Brokered deposits $17,611
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,112,730
    Cash & Balances due from depository institutions $36,308
    Interest-bearing balances $24,806
    Total securities $160,030
    Federal funds sold & reverse repurchase $0
    Net loans and leases $852,897
    Loan and leases loss allowance $11,150
    Trading account assets $0
    Bank premises and fixed assets $20,816
    Other real estate owned $0
    Goodwill and other intangibles $3,252
    All other assets $39,427

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,112,730
    Total Liabilities $1,016,969
    Total deposits $958,535
    Interest-bearing deposits $743,609
    Deposits held in domestic offices $958,535
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $48,494
    Subordinated debt $0
    All other liabilities $9,940

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $852,897
    Loan and leases loss allowance $11,150
    Total loans and leases (domestic) $864,047
    All real estate loans $700,130
    Real estate loans in domestic offices $700,130
    Construction and development loans $45,297
    Residential 1-4 family construction $8,423
    Other construction, all land development and other land $36,874
    Loans secured by nonfarm nonresidential properties $247,224
    Nonfarm nonresidential secured by owner-occupied properties $104,330
    Commercial real estate & other non-farm, non-residential $142,894
    Multifamily residential real estate $36,171
    1-4 family residential loans $371,229
    Farmland loans $209
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $160,881
    To non-U.S. addressees $0
    Loans to individuals $2,602
    Credit card loans $0
    Related Plans $26
    Consumer Auto Loans $588
    Other loans to individuals $1,988
    All other loans & leases $433
    Loans to foreign governments and official institutions $0
    Other loans $433
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $11,486
    Non 1-4 family restructured loans & leases $7,188
    Total loans and leases (foreign) $0

    Fidelity Co-operative Bank had $852,897,000 of loans outstanding in 2020. $700,130,000 of loans were in real estate loans. $45,297,000 of loans were in development loans. $36,171,000 of loans were in multifamily mortgage loans. $371,229,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $588,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 166 $46,106 $277,747
    Nonfarm, nonresidential loans - <$100k 17 $911 $53,588
    Nonfarm, nonresidential loans - $100-250k 57 $8,119 $142,439
    Nonfarm, nonresidential loans - $250k-1MM 92 $37,076 $403,000
    Commercial & Industrial, US addressed loans - <$1MM 799 $88,579 $110,862
    Commercial & Industrial, US addressed loans - <$100k 460 $13,666 $29,709
    Commercial & Industrial, US addressed loans - $100-250k 180 $24,320 $135,111
    Commercial & Industrial, US addressed loans - $250k-1MM 159 $50,593 $318,195
    Farmland loans - <$1MM 1 $209 $209,000
    Farmland loans - $250k-1MM 1 $209 $209,000