Winchester Co-operative Bank Mortgage Rates, Fees & Info

Winchester, MA

LEI: 549300E4I5AJ7XJ4DL31

Tax ID: 04-1978070

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Mortgage Data

Review & Overview

Winchester Co-operative Bank is a smaller bank specializing in Home Purchase loans. Winchester Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Manchester, Keene, and Lebanon among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Winchester 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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Originations

182

Origination Dollar Volume (All Markets)

$134,590,000

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) 175 $132,075,000 $754,714 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 3 $1,475,000 $491,667 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
Keene, NH (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
Winchester Co-operative Bank's top markets include Boston, Worcester, Manchester, Keene, and Lebanon among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 182 $134,590,000 $739,505 $0 0.00%

    For 2023, Winchester Co-operative Bank's most frequently originated type of loan was Conventional, with 182 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $107,245,000 $871,911 $0 0.00%
    Refi 30 $19,360,000 $645,333 $0 0.00%
    Home Improvement 18 $5,870,000 $326,111 $0 0.00%
    Other 11 $2,115,000 $192,273 $0 0.00%

    For 2023, Winchester Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 182 $134,590,000 $739,505 $0 0.00%

    For 2023, Winchester Co-operative Bank's most frequently cited loan duration was Other, with 182 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 49 $75,205,000 $1,534,796 $0 0.00%
    $600k-1MM 39 $29,325,000 $751,923 $0 0.00%
    $400k-600k 36 $17,700,000 $491,667 $0 0.00%
    $200k-400k 32 $9,600,000 $300,000 $0 0.00%
    $100,000 or less 13 $875,000 $67,308 $0 0.00%
    $100k-200k 13 $1,885,000 $145,000 $0 0.00%

    2023 saw Winchester Co-operative Bank place emphasis on $1MM+ loans with 49 originations, totaling $75,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 60 $55,440,000 $924,000 $0 0.00%
    $150k-250k 38 $23,580,000 $620,526 $0 0.00%
    $100k-150k 33 $15,915,000 $482,273 $0 0.00%
    $75k-100k 13 $2,705,000 $208,077 $0 0.00%
    $50k-75k 7 $1,645,000 $235,000 $0 0.00%

    Winchester Co-operative Bank lent most frequently to those with incomes in the $250k+ range, with 60 originations. The second most popular income band? $150k-250k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 182 $134,590,000 $739,505 $0 0.00%

    Winchester Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 182 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 122 $80,510,000 $659,918 $0 0.00%
    Not applicable 29 $34,095,000 $1,175,690 $0 0.00%
    Asian 12 $9,660,000 $805,000 $0 0.00%
    Not provided 13 $7,195,000 $553,462 $0 0.00%
    Asian Indian 1 $1,525,000 $1,525,000 $0 0.00%
    Black 3 $1,425,000 $475,000 $0 0.00%
    Other Pacific Islander 1 $105,000 $105,000 $0 0.00%
    American Indian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.29%

    Winchester Co-operative Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    89.56%

    Winchester Co-operative Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 182 $134,590,000 $739,505

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    182 $134,590,000 $739,505