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
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Mortgage Data
Bank 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
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Cape Cod Co-operative Bank - 2021
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For 2021, less than of lenders were eligible for this award.
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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
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.
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 |