Wakefield Co-operative Bank Mortgage Rates, Fees & Info
Wakefield, MALEI: 549300YEQNQT8LV5N068
Tax ID: 04-1939190
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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, Barnstable Town, Portland, and Providence among others. We have data for 7 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.
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Originations
152Origination Dollar Volume (All Markets)
$88,660,000Top 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) | 138 | $81,760,000 | $592,464 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 4 | $2,060,000 | $515,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $1,470,000 | $735,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $1,410,000 | $705,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $345,000 | $345,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 152 | $88,660,000 | $583,289 | $0 | 0.00% |
For 2022, Wakefield Co-operative Bank's most frequently originated type of loan was Conventional, with 152 originations.
Loan Reason
For 2022, Wakefield Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 152 | $88,660,000 | $583,289 | $0 | 0.00% |
For 2022, Wakefield Co-operative Bank's most frequently cited loan duration was Other, with 152 originations.
Loan Sizing
2022 saw Wakefield Co-operative Bank place emphasis on $600k-1MM loans with 45 originations, totaling $32,345,000 in origination value.
Applicant Income
Wakefield Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 37 originations. The second most popular income band? $250k+, with 34 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 152 | $88,660,000 | $583,289 | $0 | 0.00% |
Wakefield Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 152 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.89%
Wakefield Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination80.92%
Wakefield Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 152 | $88,660,000 | $583,289 |