North Shore Bank A Co-operative Bank Mortgage Rates, Fees & Info
Peabody, MALEI: 549300B3J2ZHX7QFH171
Tax ID: 04-3414678
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Mortgage Data
Review & Overview
North Shore Bank A Co-operative Bank is a smaller bank specializing in Home Purchase and Refi loans. North Shore Bank A Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Laconia, Portland, Worcester, and Berlin among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)North Shore Bank A 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. North Shore Bank A 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) | 6.63% | 4/21/24 |
| 30 Year Conventional Purchase | 6.10% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.09% | 4/21/24 |
| 15 Year Conventional Purchase | 6.48% | 4/21/24 |
| 15 Year Conventional Refi | 5.52% | 4/21/24 |
| 15 Year Cash-out Refi | 5.52% | 4/21/24 |
| 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. | ||
North Shore Bank A 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
388Origination Dollar Volume (All Markets)
$205,940,000Awards
North Shore Bank a Co-operative Bank - 2022
North Shore Bank a 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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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) | 369 | $196,115,000 | $531,477 | $3,929 | 4.47% |
| Outside of Metro Areas | 1 | $2,505,000 | $2,505,000 | $7,345 | 3.63% |
| Laconia, NH (FHA|USDA|VA) | 5 | $2,075,000 | $415,000 | $3,190 | 4.57% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $1,160,000 | $580,000 | $0 | 5.75% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $3,614 | 4.38% |
| Berlin, NH (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 5.25% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $4,226 | 3.88% |
| Lebanon, NH-VT (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $10,219 | 3.56% |
| Concord, NH (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,117 | 5.13% |
| Barre, VT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 3.50% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,994 | 3.50% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,864 | 4.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against North Shore Bank a 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 | 242 | $185,080,000 | $764,793 | $3,960 | 4.45% |
| HELOC | 146 | $20,860,000 | $142,877 | n/a | 4.50% |
For 2022, North Shore Bank A Co-operative Bank's most frequently originated type of loan was Conventional, with 242 originations. Their 2nd most popular type was HELOC, with 146 originations.
Loan Reason
For 2022, North Shore Bank A Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 136 originations. The 2nd most popular reason was Home Improvement, with 90 originations.
Loan Duration/Length
For 2022, North Shore Bank A Co-operative Bank's most frequently cited loan duration was 30 Year, with 155 originations. The 2nd most popular length was 20 Year, with 154 originations.
Origination Fees/Closing Costs
North Shore Bank A Co-operative Bank's average total fees were $3,601, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 147 originations.
Interest Rates
During 2022, North Shore Bank A Co-operative Bank's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 3-4%, with 165 originations.
Loan Sizing
2022 saw North Shore Bank A Co-operative Bank place emphasis on $200k-400k loans with 107 originations, totaling $31,105,000 in origination value.
Applicant Income
North Shore Bank A Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 92 originations. The second most popular income band? $150k-250k, with 75 originations.
Applicant Debt to Income Ratio
North Shore Bank A Co-operative Bank lent most frequently to those with DTI ratios of 30-36%, with 62 originations. The next most common DTI ratio? 20-30%, with 56 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.54%
North Shore Bank A Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.76%
North Shore Bank A Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 388 | $205,940,000 | $530,773 |