Reading Co-operative Bank Mortgage Rates, Fees & InfoReading, MA
Tax ID: 04-1760720
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewReading Co-operative Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Reading Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, and Manchester among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)
Reading Co-operative Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Origination Dollar Volume (All Markets)$148,345,000
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)||257||$143,155,000||$557,023||$0||0.00%|
|WORCESTER, MA-CT (FHA|USDA|VA)||7||$3,675,000||$525,000||$0||0.00%|
|Outside of Metro Areas||2||$840,000||$420,000||$0||0.00%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||2||$420,000||$210,000||$0||0.00%|
|MANCHESTER-NASHUA, NH (FHA|USDA|VA)||1||$255,000||$255,000||$0||0.00%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Reading Co-operative Bank's most frequently originated type of loan was Conventional, with 269 originations.
For 2022, Reading Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Cash Out Refi, with 71 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Reading Co-operative Bank's most frequently cited loan duration was Other, with 269 originations.
2022 saw Reading Co-operative Bank place emphasis on $400k-600k loans with 76 originations, totaling $37,330,000 in origination value.
Reading Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 74 originations. The second most popular income band? $100k-150k, with 57 originations.
Applicant Debt to Income Ratio
|DTI Ratio||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Reading Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 269 originations.
Approval RatesTotal approvals of all applications
Reading Co-operative Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Reading Co-operative Bank has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|