Savers Co-operative Bank Mortgage Rates, Fees & Info
Southbridge, MALEI: 549300EQ09ZL8XSYZM84
Tax ID: 04-1853350
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Savers Co-operative Bank is a smaller bank specializing in Home Purchase and Other loans. Savers Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Springfield, and Boston among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Savers Co-operative Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
89Origination Dollar Volume (All Markets)
$25,485,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 84 | $17,890,000 | $212,976 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $4,385,000 | $4,385,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 4 | $3,210,000 | $802,500 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 89 | $25,485,000 | $286,348 | $0 | 0.00% |
For 2023, Savers Co-operative Bank's most frequently originated type of loan was Conventional, with 89 originations.
Loan Reason
For 2023, Savers Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Home Improvement, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 89 | $25,485,000 | $286,348 | $0 | 0.00% |
For 2023, Savers Co-operative Bank's most frequently cited loan duration was Other, with 89 originations.
Loan Sizing
2023 saw Savers Co-operative Bank place emphasis on $100,000 or less loans with 39 originations, totaling $1,945,000 in origination value.
Applicant Income
Savers Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $150k-250k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 89 | $25,485,000 | $286,348 | $0 | 0.00% |
Savers Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 89 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.00%
Savers Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination95.51%
Savers 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 |
|---|---|---|---|
| Exempt | 89 | $25,485,000 | $286,348 |