Wrentham Co-operative Bank Mortgage Rates, Fees & Info

WRENTHAM, MA

LEI: 549300B4RK7F18UZ4X46

Tax ID: 04-1991475

Latest/2023 | 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
  • 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

    Wrentham Co-operative Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Wrentham Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, and Providence among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Wrentham Co-operative Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Wrentham 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

    63

    Origination Dollar Volume (All Markets)

    $12,245,000

    Awards

    WRENTHAM CO-OPERATIVE BANK 30 Year Conventional Loans bronze WRENTHAM CO-OPERATIVE BANK 30 Year Conventional Loans gold
    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) 53 $10,255,000 $193,491 $2,531 4.19%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $1,110,000 $185,000 $4,298 4.52%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $560,000 $280,000 $2,057 3.25%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $320,000 $160,000 $1,791 3.25%
    Wrentham Co-operative Bank's top markets include Boston, Barnstable Town, Worcester, and Providence among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $10,420,000 $260,500 $2,616 3.53%
    HELOC 23 $1,825,000 $79,348 n/a 5.02%

    For 2018, Wrentham Co-operative Bank's most frequently originated type of loan was Conventional, with 40 originations. Their 2nd most popular type was HELOC, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 23 $1,825,000 $79,348 $0 5.02%
    Home Improvement 12 $1,690,000 $140,833 $2,802 3.34%
    Home Purchase 11 $3,545,000 $322,273 $2,908 4.00%
    Cash Out Refi 11 $3,695,000 $335,909 $2,357 3.20%
    Refi 6 $1,490,000 $248,333 $2,366 3.39%

    For 2018, Wrentham Co-operative Bank's most frequently cited loan purpose was Other, with 23 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 33 $5,025,000 $152,273 $2,668 4.49%
    30 Year 12 $3,890,000 $324,167 $2,708 4.15%
    10 Year 8 $2,360,000 $295,000 $1,829 2.87%
    Other 8 $190,000 $23,750 $0 0.00%
    20 Year 1 $345,000 $345,000 $4,421 3.75%
    30+ year 1 $435,000 $435,000 $10,702 3.88%

    For 2018, Wrentham Co-operative Bank's most frequently cited loan duration was 15 Year, with 33 originations. The 2nd most popular length was 30 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 2 $760,000 $380,000
    $2k-3k 1 $285,000 $285,000
    $3k-4k 1 $205,000 $205,000

    Wrentham Co-operative Bank's average total fees were $2,708, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 2 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 23 $3,885,000 $168,913
    3-4% 13 $4,575,000 $351,923
    2.5-3% 11 $3,145,000 $285,909
    5-6% 8 $450,000 $56,250

    During 2018, Wrentham Co-operative Bank's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 4-5%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $1,030,000 $42,917 $724 4.80%
    $100k-200k 15 $2,045,000 $136,333 $1,682 4.41%
    $200k-400k 13 $3,555,000 $273,462 $3,110 3.52%
    $400k-600k 9 $4,215,000 $468,333 $3,371 3.74%
    $600k-1MM 2 $1,400,000 $700,000 $2,585 3.13%

    2018 saw Wrentham Co-operative Bank place emphasis on $100,000 or less loans with 24 originations, totaling $1,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 24 $4,530,000 $188,750 $2,906 4.26%
    $100k-150k 15 $2,445,000 $163,000 $1,976 4.02%
    $250k+ 10 $4,020,000 $402,000 $3,443 3.63%
    $50k-75k 7 $725,000 $103,571 $1,604 4.52%
    $75k-100k 6 $500,000 $83,333 $1,772 4.42%
    $50k or less 1 $25,000 $25,000 $0 5.25%

    Wrentham Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 24 originations. The second most popular income band? $100k-150k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 21 $5,145,000 $245,000 $2,185 4.10%
    20-30% 20 $3,850,000 $192,500 $3,760 4.02%
    <20% 11 $2,305,000 $209,545 $2,377 4.17%
    36% 3 $205,000 $68,333 $1,467 4.50%
    42% 3 $135,000 $45,000 $0 5.00%
    43% 1 $65,000 $65,000 $0 4.75%
    38% 1 $285,000 $285,000 $1,753 3.13%
    39% 1 $25,000 $25,000 $0 5.25%
    40% 1 $205,000 $205,000 $1,495 2.88%
    41% 1 $25,000 $25,000 $0 0.00%

    Wrentham Co-operative Bank lent most frequently to those with DTI ratios of 30-36%, with 21 originations. The next most common DTI ratio? 20-30%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 55 $8,975,000 $163,182 $2,657 4.20%
    Not provided 5 $1,525,000 $305,000 $2,229 3.94%
    Black 1 $785,000 $785,000 $2,683 2.75%
    Asian Indian 1 $535,000 $535,000 $2,918 3.88%
    Chinese 1 $425,000 $425,000 $2,684 4.50%

    Approval Rates

    Total approvals of all applications
    86.02%

    Wrentham Co-operative Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.24%

    Wrentham Co-operative Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 63 $12,245,000 $194,365

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 63 $12,245,000 $194,365

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $2,940,000 $183,750 $1,792 3.92%
    40-60% 11 $2,465,000 $224,091 $2,524 3.80%
    60-80% 11 $5,125,000 $465,909 $3,896 3.60%
    80-100% 1 $535,000 $535,000 $2,918 3.88%
    Under 20% 16 $990,000 $61,875 $0 5.03%