North Shore Bank A Co-operative Bank Mortgage Rates, Fees & Info

Peabody, MA

LEI: 549300B3J2ZHX7QFH171

Tax ID: 04-3414678

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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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    Originations

    388

    Origination Dollar Volume (All Markets)

    $205,940,000

    Awards

    North Shore Bank a Co-operative Bank 30 Year Conventional Loans gold North Shore Bank a Co-operative Bank 30 Year Conventional Loans bronze
    Show all (2) awards

    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%
    North Shore Bank A Co-operative Bank's top markets include Boston, Laconia, Portland, Worcester, and Berlin among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)

    • 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.

    QUINCY CREDIT UNION
    Similarity Rank: 50
    Direct Federal Credit Union
    Similarity Rank: 115
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    Middlesex Savings Bank
    Similarity Rank: 195
    Piscataqua Savings Bank
    Similarity Rank: 200
    ALIGN CREDIT UNION
    Similarity Rank: 200
    North Easton Savings Bank
    Similarity Rank: 348
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 357
    ROCKLAND
    Similarity Rank: 360
    Milford Federal Bank
    Similarity Rank: 364

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 136 $96,490,000 $709,485 $3,769 4.60%
    Home Improvement 90 $15,120,000 $168,000 $6,709 4.50%
    Refi 66 $57,230,000 $867,121 $2,913 4.26%
    Cash Out Refi 50 $25,920,000 $518,400 $4,280 4.16%
    Other 46 $11,180,000 $243,043 $3,587 4.63%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 155 $81,795,000 $527,710 $3,601 4.25%
    20 Year 154 $24,370,000 $158,247 $2,741 4.45%
    Other 44 $54,490,000 $1,238,409 $2,809 5.14%
    30+ year 10 $13,060,000 $1,306,000 $11,341 4.60%
    10 Year 10 $9,580,000 $958,000 $0 4.42%
    15 Year 7 $1,715,000 $245,000 $2,920 3.77%
    1 Year 6 $10,220,000 $1,703,333 $0 6.25%
    3 Year 1 $705,000 $705,000 $0 5.50%
    5 Year 1 $10,005,000 $10,005,000 $0 3.75%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 147 $65,845,000 $447,925
    $4k-5k 9 $7,905,000 $878,333
    $1k-2k 4 $1,050,000 $262,500
    $3k-4k 3 $675,000 $225,000
    $2k-3k 1 $155,000 $155,000

    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

    Loan Rate Originations Total Value Average Loan
    3-4% 165 $66,755,000 $404,576
    4-5% 91 $63,585,000 $698,736
    5-6% 87 $34,415,000 $395,575
    6-7% 29 $32,095,000 $1,106,724
    2.5-3% 6 $1,440,000 $240,000
    7-8% 5 $4,465,000 $893,000
    <2.5% 4 $80,000 $20,000
    Over 8% 1 $3,105,000 $3,105,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 107 $31,105,000 $290,701 $3,292 4.59%
    $400k-600k 74 $35,580,000 $480,811 $4,149 4.30%
    $100,000 or less 68 $3,730,000 $54,853 $937 4.37%
    $100k-200k 65 $8,485,000 $130,538 $3,112 4.22%
    $600k-1MM 44 $33,470,000 $760,682 $5,333 4.52%
    $1MM+ 30 $93,570,000 $3,119,000 $8,798 5.13%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 92 $24,390,000 $265,109 $3,666 4.40%
    $150k-250k 75 $25,415,000 $338,867 $4,538 4.39%
    $250k+ 51 $34,205,000 $670,686 $5,369 4.33%
    $75k-100k 49 $10,365,000 $211,531 $3,254 4.53%
    $50k-75k 42 $6,590,000 $156,905 $2,785 4.06%
    $50k or less 14 $1,720,000 $122,857 $2,425 4.30%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 62 $15,510,000 $250,161 $3,516 4.28%
    20-30% 56 $17,340,000 $309,643 $3,761 4.00%
    44% 35 $9,745,000 $278,429 $4,387 4.52%
    43% 29 $8,445,000 $291,207 $3,686 4.54%
    <20% 27 $12,595,000 $466,481 $4,406 4.00%
    41% 21 $8,185,000 $389,762 $4,191 4.45%
    42% 19 $5,015,000 $263,947 $3,103 4.66%
    40% 14 $3,680,000 $262,857 $3,407 4.63%
    39% 14 $3,900,000 $278,571 $5,883 4.83%
    37% 12 $4,820,000 $401,667 $4,521 4.40%
    38% 10 $1,930,000 $193,000 $3,561 4.44%
    36% 10 $2,550,000 $255,000 $3,444 4.25%
    45% 4 $4,890,000 $1,222,500 $5,581 5.44%
    48% 3 $855,000 $285,000 $2,444 2.83%
    46% 2 $200,000 $100,000 $0 5.69%
    47% 1 $885,000 $885,000 $11,422 3.88%
    49% 1 $415,000 $415,000 $3,539 3.99%
    50-60% 1 $285,000 $285,000 $0 3.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 303 $102,155,000 $337,145 $3,992 4.32%
    Not applicable 60 $99,570,000 $1,659,500 $0 5.06%
    Not provided 21 $3,565,000 $169,762 $4,401 5.01%
    Asian 1 $335,000 $335,000 $3,226 5.13%
    Black 3 $315,000 $105,000 $1,510 3.46%

    Approval Rates

    Total approvals of all applications
    86.54%

    North Shore Bank A Co-operative Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.76%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    388 $205,940,000 $530,773

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 74 $22,980,000 $310,541 $3,449 4.38%
    40-60% 65 $32,835,000 $505,154 $3,672 4.32%
    60-80% 111 $122,565,000 $1,104,189 $4,447 4.65%
    80-100% 33 $16,665,000 $505,000 $4,542 4.37%
    Under 20% 105 $10,895,000 $103,762 $1,929 4.45%