Is Cape Cod Five Cents Savings Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Cape Cod Five Cents Savings Bank to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of Cape Cod Five Cents Savings Bank nationally:
|Review Item||Cape Cod Five Cents Savings Bank|
|Interest Rate||lower than other lenders (-0.11%)|
|Loan Related Closing Costs||similar to other lenders (-$47)|
|National Rate and Closing Cost Star Rating||(4)|
On average, Cape Cod Five Cents Savings Bank’s interest rates were lower than those of other lenders (-0.11%) for a comparable set of borrowers. On the other hand, its loan related closing costs were similar to those of other lenders, with a difference of -$47. Overall, combining interest rates and closing costs we estimate that Cape Cod Five Cents Savings Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars. To visit Cape Cod Five Cents Savings Bank, its website is located at: https://www.capecodfive.com.
Cape Cod Five Cents Savings Bank’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track Cape Cod Five Cents Savings Bank was most active in:
In addition, Cape Cod Five Cents Savings Bank is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Vineyard Haven, MA, overall
You can click through to check out Cape Cod Five Cents Savings Bank’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.
Cape Cod Five Cents Savings Bank’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Cape Cod Five Cents Savings Bank originated Conforming, Jumbo and USDA mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.
|New Purchase Mortgages||Conforming||Jumbo||USDA|
|Interest Rate Difference||-0.07%||+0.01%||+0.03%|
|Loan Related Closing Cost Difference||-$171||+$152||-$9|
|Cost Adjusted Rate Difference||-0.08%||+0.02%||+0.03%|
|National Star Rating|
|Interest Rate Difference||-0.19%||-0.09%|
|Loan Related Closing Cost Difference||-$176||+$725|
|Cost Adjusted Rate Difference||-0.22%||-0.07%|
|Average Star Rating|
As a summary, Cape Cod Five Cents Savings Bank is cheap for Conforming purchase mortgages. It is similar to other lenders for Jumbo and USDA purchase mortgages. For refinancing mortgages, Cape Cod Five Cents Savings Bank is cheap for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Cape Cod Five Cents Savings Bank:
Registered city and state: ORLEANS, MA, 02653
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: CAPE COD FIVE MUTUAL COMPANY
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Cape Cod Five Cents Savings Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.