Municipal Credit Union Mortgage Rates, Fees & Info

New York, NY

LEI: 2549006T9J2DMLJVRS64

Tax ID: 13-5261470

5 stars - Updated: 4/17/25 - out of 5 stars, based on 32 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Municipal Credit Union is a smaller credit union specializing in Home Purchase loans. Municipal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Poughkeepsie, Trenton, East Stroudsburg, and Albany among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Municipal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Municipal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.62% 4/17/25
    30 Year Conventional Refi 6.39% 4/17/25
    30 Year Cash-out Refi 6.76% 4/17/25
    15 Year Conventional Purchase 5.97% 4/17/25
    15 Year Conventional Refi 8.59% 4/17/25
    15 Year Cash-out Refi 8.59% 4/17/25
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Municipal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Municipal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    998

    Origination Dollar Volume (All Markets)

    $246,560,000
    Show all (6) awards

    Relative Rate

    Municipal Credit Union's average 30 year fixed mortgage rate was 6.46%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.09%.

    Relative Fees (Closing Costs)

    Municipal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,720.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    Top Markets

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    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 870 $214,500,000 $246,552 $3,071 6.92%
    Outside of Metro Areas 35 $14,005,000 $400,143 $4,979 6.60%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 55 $10,645,000 $193,545 $2,781 7.01%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 4 $1,170,000 $292,500 $9,602 7.34%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 7 $1,165,000 $166,429 $3,392 7.05%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 4 $1,080,000 $270,000 $3,801 6.28%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $1,045,000 $209,000 $5,647 6.48%
    KINGSTON, NY (FHA|USDA|VA) 5 $905,000 $181,000 $3,267 6.20%
    SYRACUSE, NY (FHA|USDA|VA) 3 $605,000 $201,667 $4,355 6.17%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $475,000 $158,333 $3,264 7.25%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $370,000 $185,000 $5,306 7.19%
    Hudson, NY (FHA|USDA|VA) 2 $290,000 $145,000 $4,132 6.00%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $165,000 $165,000 $4,049 7.13%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.38%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $55,000 $55,000 $3,096 6.50%
    Municipal Credit Union's top markets include New York, Poughkeepsie, Trenton, East Stroudsburg, and Albany among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Municipal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Columbia Bank
    Similarity Rank: 64
    Rhinebeck Bank
    Similarity Rank: 96
    N C P D Federal Credit Union
    Similarity Rank: 126
    BNB Bank
    Similarity Rank: 154
    ISLAND
    Similarity Rank: 260
    PCSB Bank
    Similarity Rank: 384
    Bogota Savings Bank
    Similarity Rank: 450
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 504
    Nassau Educators Federal Credit Union
    Similarity Rank: 504
    POLISH & SLAVIC FEDERAL CREDIT UNION
    Similarity Rank: 506

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 596 $192,680,000 $323,289 $3,181 7.08%
    HELOC 402 $53,880,000 $134,030 n/a 6.65%

    For 2024, Municipal Credit Union's most frequently originated type of loan was Conventional, with 596 originations. Their 2nd most popular type was HELOC, with 402 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 306 $33,600,000 $109,804 $19 7.03%
    Home Purchase 283 $146,605,000 $518,039 $5,618 6.18%
    Other 273 $30,155,000 $110,458 $26 7.54%
    Refi 108 $26,730,000 $247,500 $1,709 7.02%
    Cash Out Refi 28 $9,470,000 $338,214 $4,782 6.29%

    For 2024, Municipal Credit Union's most frequently cited loan purpose was Home Improvement, with 306 originations. The 2nd most popular reason was Home Purchase, with 283 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 686 $210,950,000 $307,507 $5,720 6.46%
    20 Year 146 $20,710,000 $141,849 $638 8.30%
    10 Year 111 $7,955,000 $71,667 $288 7.34%
    15 Year 55 $6,945,000 $126,273 $1,277 7.90%

    For 2024, Municipal Credit Union's most frequently cited loan duration was 30 Year, with 686 originations. The 2nd most popular length was 20 Year, with 146 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 449 $117,655,000 $262,038
    $1k-2k 81 $48,725,000 $601,543
    $2k-3k 16 $11,180,000 $698,750
    $5k+ 8 $6,790,000 $848,750
    $3k-4k 7 $3,185,000 $455,000
    $4k-5k 3 $1,705,000 $568,333

    Municipal Credit Union's average total fees were $5,720, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 449 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 431 $115,195,000 $267,274
    5-6% 278 $96,240,000 $346,187
    Over 8% 165 $15,935,000 $96,576
    7-8% 120 $17,040,000 $142,000
    4-5% 4 $2,150,000 $537,500

    During 2024, Municipal Credit Union's average interest rate for loans was 6.46%, while their most frequently originated rate bucket for loans was 6-7%, with 431 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 339 $21,105,000 $62,257 $168 7.36%
    $100k-200k 278 $36,650,000 $131,835 $1,511 7.18%
    $200k-400k 169 $44,865,000 $265,473 $3,666 6.57%
    $400k-600k 110 $54,790,000 $498,091 $5,628 6.18%
    $600k-1MM 73 $52,835,000 $723,767 $6,522 6.07%
    $1MM+ 29 $36,315,000 $1,252,241 $8,142 5.84%

    2024 saw Municipal Credit Union place emphasis on $100,000 or less loans with 339 originations, totaling $21,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 380 $89,950,000 $236,711 $3,073 6.96%
    $100k-150k 332 $59,190,000 $178,283 $2,419 7.00%
    $250k+ 141 $79,465,000 $563,582 $5,642 6.49%
    $75k-100k 98 $12,860,000 $131,224 $1,914 7.08%
    $50k-75k 41 $4,655,000 $113,537 $2,534 6.85%
    $50k or less 6 $440,000 $73,333 $2,153 5.87%

    Municipal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 380 originations. The second most popular income band? $100k-150k, with 332 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 211 $60,395,000 $286,232 $3,486 6.80%
    20-30% 169 $47,135,000 $278,905 $3,670 6.64%
    44% 70 $11,190,000 $159,857 $1,310 7.38%
    47% 58 $12,680,000 $218,621 $2,977 7.03%
    38% 51 $12,565,000 $246,373 $4,703 6.73%
    41% 48 $10,200,000 $212,500 $2,711 6.93%
    43% 47 $12,905,000 $274,574 $3,068 7.06%
    37% 44 $11,120,000 $252,727 $2,675 7.31%
    40% 41 $10,815,000 $263,780 $2,874 7.03%
    42% 40 $9,480,000 $237,000 $4,393 6.70%
    36% 37 $9,055,000 $244,730 $3,216 6.82%
    39% 36 $8,730,000 $242,500 $3,495 6.97%
    49% 36 $8,360,000 $232,222 $2,584 6.92%
    45% 33 $7,195,000 $218,030 $3,308 7.09%
    48% 29 $4,895,000 $168,793 $1,572 7.47%
    <20% 24 $5,910,000 $246,250 $3,632 6.45%
    46% 21 $3,105,000 $147,857 $612 7.18%
    50-60% 3 $825,000 $275,000 $4,679 6.67%

    Municipal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 211 originations. The next most common DTI ratio? 20-30%, with 169 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 310 $88,380,000 $285,097 $3,354 6.88%
    Not provided 290 $57,010,000 $196,586 $2,544 7.01%
    Black 290 $53,720,000 $185,241 $2,600 7.00%
    Asian 79 $34,575,000 $437,658 $4,860 6.53%
    Asian Indian 8 $4,700,000 $587,500 $6,124 6.44%
    Other Asian 8 $3,560,000 $445,000 $4,574 6.14%
    Korean 2 $1,750,000 $875,000 $7,684 6.06%
    Chinese 2 $1,210,000 $605,000 $6,101 5.94%
    American Indian 6 $1,100,000 $183,333 $3,114 6.31%
    Other Pacific Islander 1 $305,000 $305,000 $5,202 6.50%
    Not applicable 1 $195,000 $195,000 $5,674 7.00%
    Filipino 1 $55,000 $55,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    68.99%

    Municipal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    39.98%

    Municipal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 998 $246,560,000 $247,054

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    998 $246,560,000 $247,054

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 182 $33,440,000 $183,736 $1,195 7.01%
    40-60% 43 $15,225,000 $354,070 $4,293 6.60%
    60-80% 167 $92,975,000 $556,737 $5,655 6.19%
    80-100% 112 $60,930,000 $544,018 $5,714 6.17%
    Under 20% 494 $43,990,000 $89,049 $255 7.30%