Salem Co-operative Bank Mortgage Rates, Fees & Info

Salem, NH

LEI: 549300O2WI1UYPLRU579

Tax ID: 02-0187470

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
  • 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

    Salem Co-operative Bank is a smaller bank specializing in Home Purchase loans. Salem Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Concord, Laconia, and Lebanon among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Salem 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.

    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

    103

    Origination Dollar Volume (All Markets)

    $53,895,000

    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) 74 $44,390,000 $599,865 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 14 $4,970,000 $355,000 $0 0.00%
    Concord, NH (FHA|USDA|VA) 9 $2,505,000 $278,333 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 3 $1,205,000 $401,667 $0 0.00%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $650,000 $325,000 $0 0.00%
    Berlin, NH (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Salem Co-operative Bank's top markets include Boston, Manchester, Concord, Laconia, and Lebanon among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 103 $53,895,000 $523,252 $0 0.00%

    For 2024, Salem Co-operative Bank's most frequently originated type of loan was Conventional, with 103 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 72 $47,110,000 $654,306 $0 0.00%
    Home Improvement 13 $1,265,000 $97,308 $0 0.00%
    Refi 10 $4,910,000 $491,000 $0 0.00%
    Other 8 $610,000 $76,250 $0 0.00%

    For 2024, Salem Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Home Improvement, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 103 $53,895,000 $523,252 $0 0.00%

    For 2024, Salem Co-operative Bank's most frequently cited loan duration was Other, with 103 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 27 $8,205,000 $303,889 $0 0.00%
    $400k-600k 24 $11,310,000 $471,250 $0 0.00%
    $100,000 or less 17 $815,000 $47,941 $0 0.00%
    $100k-200k 14 $2,090,000 $149,286 $0 0.00%
    $600k-1MM 14 $10,370,000 $740,714 $0 0.00%
    $1MM+ 7 $21,105,000 $3,015,000 $0 0.00%

    2024 saw Salem Co-operative Bank place emphasis on $200k-400k loans with 27 originations, totaling $8,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 30 $12,500,000 $416,667 $0 0.00%
    $100k-150k 21 $5,735,000 $273,095 $0 0.00%
    $250k+ 18 $11,000,000 $611,111 $0 0.00%
    $75k-100k 10 $1,500,000 $150,000 $0 0.00%
    $50k-75k 7 $945,000 $135,000 $0 0.00%
    $50k or less 2 $60,000 $30,000 $0 0.00%

    Salem Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 30 originations. The second most popular income band? $100k-150k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 103 $53,895,000 $523,252 $0 0.00%

    Salem Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 103 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 77 $25,715,000 $333,961 $0 0.00%
    Not applicable 15 $22,155,000 $1,477,000 $0 0.00%
    Not provided 9 $5,045,000 $560,556 $0 0.00%
    Asian 2 $980,000 $490,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    77.64%

    Salem Co-operative Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.50%

    Salem Co-operative Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 103 $53,895,000 $523,252

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    103 $53,895,000 $523,252