Salem Co-operative Bank Mortgage Rates, Fees & Info
Salem, NHLEI: 549300O2WI1UYPLRU579
Tax ID: 02-0187470
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Salem Co-operative Bank is a smaller bank specializing in Home Purchase and Refi 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.
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Originations
159Origination Dollar Volume (All Markets)
$58,785,000Top 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 115 | $42,185,000 | $366,826 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 31 | $10,935,000 | $352,742 | $0 | 0.00% |
| Concord, NH (FHA|USDA|VA) | 6 | $2,050,000 | $341,667 | $0 | 0.00% |
| Laconia, NH (FHA|USDA|VA) | 2 | $1,910,000 | $955,000 | $0 | 0.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 3 | $1,495,000 | $498,333 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 159 | $58,785,000 | $369,717 | $0 | 0.00% |
For 2022, Salem Co-operative Bank's most frequently originated type of loan was Conventional, with 159 originations.
Loan Reason
For 2022, Salem Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 87 originations. The 2nd most popular reason was Refi, with 50 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 159 | $58,785,000 | $369,717 | $0 | 0.00% |
For 2022, Salem Co-operative Bank's most frequently cited loan duration was Other, with 159 originations.
Loan Sizing
2022 saw Salem Co-operative Bank place emphasis on $200k-400k loans with 61 originations, totaling $18,565,000 in origination value.
Applicant Income
Salem Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $150k-250k, with 41 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 159 | $58,785,000 | $369,717 | $0 | 0.00% |
Salem Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 159 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.02%
Salem Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.02%
Salem Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 159 | $58,785,000 | $369,717 |