Cape Cod Co-operative Bank Mortgage Rates, Fees & Info

Yarmouth Port, MA

LEI: 549300TXW4YZE1CSWA75

Tax ID: 04-1148930

5 stars - out of 5 stars, based on 28 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cape Cod Co-operative Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Cape Cod Co-operative Bank has a high proportion of conventional loans. Their top markets include Barnstable Town, Boston, Providence, Vineyard Haven, and Worcester among others. Cape Cod Co-operative Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cape Cod Co-operative Bank is typically a low fee lendor.


Originations

777

Origination Dollar Volume (All Markets)

$318,035,000

Employee count

164

Awards

Cape Cod Co-operative Bank 30 Year Conventional Loans gold Cape Cod Co-operative Bank 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Cape Cod Co-operative Bank's average 30 year fixed rate mortgage of loans were 3.07%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.08%.

Relative Fees

Cape Cod Co-operative Bank's average total fees for a 30 year fixed rate mortgage are $3,005.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
BARNSTABLE TOWN, MA (FHA|USDA|VA) 695 $274,905,000 $395,547 $2,921 3.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 61 $31,435,000 $515,328 $3,174 3.08%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 15 $7,845,000 $523,000 $3,444 3.14%
Outside of Metro Areas 3 $2,115,000 $705,000 $3,514 3.21%
Vineyard Haven, MA (FHA|USDA|VA) 2 $1,250,000 $625,000 $2,934 2.88%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $485,000 $485,000 $2,455 2.50%

Cape Cod Co-operative Bank's top markets include Barnstable Town, Boston, Providence, Vineyard Haven, and Worcester among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 777 $318,035,000 $409,311 $2,950 3.01%

For the 2021 period, Cape Cod Co-operative Bank's most frequently originated loan type of loans were Conventional, with 777 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 317 $104,515,000 $329,700 $2,498 2.89%
Cash Out Refi 264 $99,250,000 $375,947 $2,855 3.11%
Home Purchase 191 $113,115,000 $592,225 $3,916 3.06%
Home Improvement 3 $645,000 $215,000 $1,700 3.17%
Other 2 $510,000 $255,000 $2,513 3.31%

For the 2021, Cape Cod Co-operative Bank's most frequently cited loan purpose of loans were Refi, with 317 originations. The 2nd most popular reason of loans were Cash Out Refi, with 264 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 542 $225,710,000 $416,439 $3,005 3.07%
15 Year 97 $23,485,000 $242,113 $2,458 2.66%
20 Year 69 $20,355,000 $295,000 $2,246 3.01%
30+ year 35 $40,525,000 $1,157,857 $5,548 3.19%
10 Year 26 $5,000,000 $192,308 $1,857 2.73%
Other 8 $2,960,000 $370,000 $3,396 3.05%

For the 2021, Cape Cod Co-operative Bank's most frequently cited loan length of loans were 30 Year, with 542 originations. The 2nd most popular length of loans were 15 Year, with 97 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 638 $268,650,000 $421,082
$1k-2k 49 $11,545,000 $235,612
$2k-3k 23 $6,985,000 $303,696
$3k-4k 15 $5,135,000 $342,333
$5k+ 2 $660,000 $330,000

$3,005 of loans were Cape Cod Co-operative Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 638 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 449 $174,185,000 $387,940
3-4% 265 $130,135,000 $491,075
<2.5% 57 $12,335,000 $216,404
4-5% 6 $1,380,000 $230,000

During 2021, Cape Cod Co-operative Bank's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 2.5-3%, with 449 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 351 $101,695,000 $289,729 $2,649 3.01%
$400k-600k 139 $66,685,000 $479,748 $3,317 3.04%
$100k-200k 136 $20,480,000 $150,588 $2,228 2.88%
$600k-1MM 81 $62,085,000 $766,481 $3,932 3.08%
$100,000 or less 35 $2,335,000 $66,714 $1,390 3.12%
$1MM+ 35 $64,755,000 $1,850,143 $6,839 3.08%

2021 saw Cape Cod Co-operative Bank place emphasis on $200k-400k loans with 351 originations, totaling $101,695,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 168 $72,060,000 $428,929 $3,023 2.99%
$100k-150k 166 $51,980,000 $313,133 $2,690 3.01%
$250k+ 142 $120,290,000 $847,113 $4,166 3.07%
$50k-75k 136 $33,410,000 $245,662 $2,736 2.97%
$75k-100k 108 $29,260,000 $270,926 $2,456 3.01%
$50k or less 51 $8,045,000 $157,745 $2,184 2.95%

Cape Cod Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 168 originations. The second most popular income band? $100k-150k, with 166 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 192 $78,550,000 $409,115 $2,938 2.95%
30-36% 169 $73,635,000 $435,710 $3,001 3.06%
<20% 68 $26,730,000 $393,088 $2,873 2.84%
36% 38 $16,940,000 $445,789 $3,268 3.04%
42% 35 $12,355,000 $353,000 $2,839 3.04%
44% 33 $11,525,000 $349,242 $2,720 3.05%
40% 31 $18,625,000 $600,806 $3,328 3.05%
38% 29 $10,485,000 $361,552 $2,782 3.06%
43% 25 $10,525,000 $421,000 $3,097 3.07%
39% 24 $10,310,000 $429,583 $3,215 3.00%
37% 23 $8,465,000 $368,043 $2,775 3.08%
41% 21 $10,255,000 $488,333 $3,190 3.06%
48% 20 $6,940,000 $347,000 $2,598 3.06%
46% 18 $5,820,000 $323,333 $2,803 2.88%
45% 16 $5,000,000 $312,500 $2,612 3.15%
47% 15 $4,395,000 $293,000 $2,726 2.92%
49% 15 $4,565,000 $304,333 $2,858 3.03%
50-60% 1 $285,000 $285,000 $0 3.75%

Cape Cod Co-operative Bank lent most frequently to those with DTI ratios of 20-30%, with 192 originations. The next most common DTI ratio? 30-36%, with 169 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 648 $250,890,000 $387,176 $2,900 3.02%
Not provided 101 $55,065,000 $545,198 $3,310 2.95%
Asian 10 $5,260,000 $526,000 $3,212 2.84%
Black 11 $3,525,000 $320,455 $2,566 3.03%
Not applicable 4 $2,630,000 $657,500 $0 3.91%
American Indian 2 $530,000 $265,000 $2,205 3.19%
Asian Indian 1 $135,000 $135,000 $1,882 2.75%

Approval Rates

Total approvals of all applications
96.13%

Cape Cod 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
87.08%

Cape Cod Co-operative Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 777 $318,035,000 $409,311

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
777 $318,035,000 $409,311

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 149 $40,415,000 $271,242 $2,552 2.83%
40-60% 205 $72,675,000 $354,512 $2,728 2.96%
60-80% 282 $148,070,000 $525,071 $3,322 3.10%
80-100% 97 $50,055,000 $516,031 $3,630 3.10%
Under 20% 44 $6,820,000 $155,000 $1,710 3.06%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Cape Cod Co-Operative Bank 1591 Main Street East Dennis, MA 2641 Full Service B&M $192,673
Cape Cod Co-Operative Bank 1121 Route 6a West Barnstable, MA 2668 Full Service B&M $89,255
Cape Cod Co-Operative Bank 121 Main St Yarmouth Port, MA 2675 Full Service B&M $200,889
Cape Cod Co-Operative Bank 121 Main Street/Route 6a Yarmouth Port, MA 2675 Limited, Mobile/Seasonal Office $2,292
Cape Cod Co-Operative Bank 1470 Orleans Road East Harwich, MA 2645 Full Service B&M $89,909
Cape Cod Co-Operative Bank 237 North Main Street South Yarmouth, MA 2664 Limited, Mobile/Seasonal Office $1,066
Cape Cod Co-Operative Bank 238 Worcester Court Falmouth, MA 2540 Full Service B&M $47,856
Cape Cod Co-Operative Bank 275 Cotuit Road Sandwich, MA 2563 Full Service B&M $135,672
Cape Cod Co-Operative Bank 3878 Falmouth Road Marstons Mills, MA 2648 Full Service B&M $38,846
Cape Cod Co-Operative Bank 64 King's Circuit Yarmouth Port, MA 2675 Full Service B&M $13,597
Cape Cod Co-Operative Bank 660 N Falmouth Hwy North Falmouth, MA 2556 Full Service B&M $35,561
Cape Cod Co-Operative Bank 695 Attucks Lane Hyannis Hyannis, MA 2601 Full Service B&M $328,962

For 2021, Cape Cod Co-operative Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $34,788
Net interest income $32,739
Total noninterest income $4,927
Gross Fiduciary activities income $0
Service charges on deposit accounts $593
Trading account gains and fees $0
Additional Noninterest Income $4,334
Pre-tax net operating income $10,248
Securities gains (or losses, -) $-15
Income before extraordinary items $7,440
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $7,440
Minority interest net income $0
Net income $7,440
Sale, conversion, retirement of capital stock, net $0
Net operating income $7,451

Cape Cod Co-operative Bank's gross interest income from loans was $34,788,000.
Cape Cod Co-operative Bank's net interest income from loans was $32,739,000.
Cape Cod Co-operative Bank's fee based income from loans was $593,000.
Cape Cod Co-operative Bank's net income from loans was $7,440,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,049
Provision for credit losses $-1,029
Total noninterest expense $28,447
Salaries and employee benefits $16,569
Premises and equipment expense $4,262
Additional noninterest expense $7,616
Applicable income taxes $2,793
Net charge-offs $-36
Cash dividends $0

Cape Cod Co-operative Bank's interest expense for loans was $2,049,000.
Cape Cod Co-operative Bank's payroll and benefits expense were $16,569,000.
Cape Cod Co-operative Bank's property, plant and equipment expenses $4,262,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $1,230,067
Deposits held in domestic offices $1,230,067
Deposits by Individuals, partnerships, and corporations $1,049,115
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $180,952
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $507,778
Demand deposits $248,086
Nontransaction accounts $722,289
Money market deposit accounts (MMDAs) $439,008
Other savings deposits (excluding MMDAs) $210,027
Total time deposits $73,254
Total time and savings deposits $981,981
Noninterest-bearing deposits $248,086
Interest-bearing deposits $981,981
Retail deposits $1,203,060
IRAs and Keogh plan accounts $12,851
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,387,857
Cash & Balances due from depository institutions $311,720
Interest-bearing balances $301,862
Total securities $93,737
Federal funds sold & reverse repurchase $190
Net loans and leases $920,668
Loan and leases loss allowance $10,221
Trading account assets $45
Bank premises and fixed assets $31,320
Other real estate owned $35
Goodwill and other intangibles $1,790
All other assets $28,352

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,387,857
Total Liabilities $1,253,741
Total deposits $1,230,067
Interest-bearing deposits $981,981
Deposits held in domestic offices $1,230,067
% insured (estimated) $64
Federal funds purchased and repurchase agreements $14,652
Trading liabilities $45
Other borrowed funds $4,021
Subordinated debt $0
All other liabilities $4,956

Issued Loan Types

Type Value (in 000's)
Net loans and leases $920,668
Loan and leases loss allowance $10,221
Total loans and leases (domestic) $930,889
All real estate loans $884,389
Real estate loans in domestic offices $884,389
Construction and development loans $62,566
Residential 1-4 family construction $36,463
Other construction, all land development and other land $26,103
Loans secured by nonfarm nonresidential properties $251,209
Nonfarm nonresidential secured by owner-occupied properties $89,700
Commercial real estate & other non-farm, non-residential $161,509
Multifamily residential real estate $6,979
1-4 family residential loans $563,635
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $45,948
To non-U.S. addressees $0
Loans to individuals $551
Credit card loans $0
Related Plans $146
Consumer Auto Loans $0
Other loans to individuals $405
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $4,535
Non 1-4 family restructured loans & leases $1,427
Total loans and leases (foreign) $0

Cape Cod Co-operative Bank had $920,668,000 of loans outstanding in 2021. $884,389,000 of loans were in real estate loans. $62,566,000 of loans were in development loans. $6,979,000 of loans were in multifamily mortgage loans. $563,635,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 286 $86,526 $302,538
Nonfarm, nonresidential loans - <$100k 29 $1,276 $44,000
Nonfarm, nonresidential loans - $100-250k 79 $10,194 $129,038
Nonfarm, nonresidential loans - $250k-1MM 178 $75,056 $421,663
Commercial & Industrial, US addressed loans - <$1MM 466 $29,020 $62,275
Commercial & Industrial, US addressed loans - <$100k 331 $6,284 $18,985
Commercial & Industrial, US addressed loans - $100-250k 72 $6,338 $88,028
Commercial & Industrial, US addressed loans - $250k-1MM 63 $16,398 $260,286