Wakefield Co-operative Bank Mortgage Rates, Fees & Info
Wakefield, MALEI: 549300YEQNQT8LV5N068
Tax ID: 04-1939190
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Wakefield Co-operative Bank is a smaller bank specializing in Home Purchase loans. Wakefield Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, and Barnstable Town among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Wakefield Co-operative Bank has an above 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
22Origination Dollar Volume (All Markets)
$8,990,000Top 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) | 20 | $7,770,000 | $388,500 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 22 | $8,990,000 | $408,636 | $0 | 0.00% |
For 2024, Wakefield Co-operative Bank's most frequently originated type of loan was Conventional, with 22 originations.
Loan Reason
For 2024, Wakefield Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 15 originations. The 2nd most popular reason was Home Improvement, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 22 | $8,990,000 | $408,636 | $0 | 0.00% |
For 2024, Wakefield Co-operative Bank's most frequently cited loan duration was Other, with 22 originations.
Loan Sizing
2024 saw Wakefield Co-operative Bank place emphasis on $600k-1MM loans with 8 originations, totaling $5,360,000 in origination value.
Applicant Income
Wakefield Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $250k+, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 22 | $8,990,000 | $408,636 | $0 | 0.00% |
Wakefield Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 22 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.32%
Wakefield Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.82%
Wakefield Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 22 | $8,990,000 | $408,636 |