Municipal Credit Union Mortgage Rates, Fees & Info

New York, NY

LEI: 2549006T9J2DMLJVRS64

Tax ID: 13-5261470

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 and Cash Out Refi loans. Municipal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Poughkeepsie, Philadelphia, Trenton, and Rochester among others. We have data for 8 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 5.48% 11/17/24
    30 Year Conventional Refi 5.30% 11/17/24
    30 Year Cash-out Refi 5.40% 11/17/24
    15 Year Conventional Purchase 5.87% 11/17/24
    15 Year Conventional Refi 4.95% 11/17/24
    15 Year Cash-out Refi 4.95% 11/17/24
    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

    440

    Origination Dollar Volume (All Markets)

    $117,190,000

    Awards

    Municipal Credit Union 30 Year Conventional Loans bronze Municipal Credit Union 30 Year Conventional Loans bronze
    Show all (2) awards

    Top 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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 411 $111,405,000 $271,058 $4,312 4.63%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 19 $4,305,000 $226,579 $4,168 4.32%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $650,000 $162,500 $3,874 4.16%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $325,000 $325,000 $5,861 4.38%
    Outside of Metro Areas 2 $180,000 $90,000 $3,839 4.38%
    ROCHESTER, NY (FHA|USDA|VA) 1 $165,000 $165,000 $3,486 4.00%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,357 4.25%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $75,000 $75,000 $3,957 5.13%
    Municipal Credit Union's top markets include New York, Poughkeepsie, Philadelphia, Trenton, and Rochester among others.

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

    N C P D Federal Credit Union
    Similarity Rank: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    MID-HUDSON VALLEY
    Similarity Rank: 114
    Union County Savings Bank
    Similarity Rank: 150
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    TEG Federal Credit Union
    Similarity Rank: 210
    Blue Foundry Bank
    Similarity Rank: 212
    CCFCU FUNDING, LLC
    Similarity Rank: 216
    Bogota Savings Bank
    Similarity Rank: 246
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 266

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 440 $117,190,000 $266,341 $4,297 4.61%

    For 2019, Municipal Credit Union's most frequently originated type of loan was Conventional, with 440 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 219 $60,715,000 $277,237 $4,231 4.43%
    Cash Out Refi 178 $48,350,000 $271,629 $4,422 4.67%
    Refi 28 $6,990,000 $249,643 $4,161 4.04%
    Other 14 $780,000 $55,714 $0 7.88%
    Home Improvement 1 $355,000 $355,000 $3,934 4.25%

    For 2019, Municipal Credit Union's most frequently cited loan purpose was Home Purchase, with 219 originations. The 2nd most popular reason was Cash Out Refi, with 178 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 319 $97,055,000 $304,248 $4,334 4.40%
    15 Year 55 $12,445,000 $226,273 $4,169 3.78%
    20 Year 54 $5,100,000 $94,444 $0 6.84%
    Other 7 $2,125,000 $303,571 $3,821 4.21%
    10 Year 5 $465,000 $93,000 $4,022 3.73%

    For 2019, Municipal Credit Union's most frequently cited loan duration was 30 Year, with 319 originations. The 2nd most popular length was 15 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 366 $97,180,000 $265,519
    $1k-2k 63 $15,365,000 $243,889
    $2k-3k 8 $3,630,000 $453,750
    $5k+ 2 $800,000 $400,000
    $3k-4k 1 $215,000 $215,000

    Municipal Credit Union's average total fees were $4,334, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 366 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 242 $69,480,000 $287,107
    3-4% 135 $40,225,000 $297,963
    7-8% 23 $1,365,000 $59,348
    5-6% 22 $5,130,000 $233,182
    6-7% 9 $585,000 $65,000
    Over 8% 9 $405,000 $45,000

    During 2019, Municipal Credit Union's average interest rate for loans was 4.40%, while their most frequently originated rate bucket for loans was 4-5%, with 242 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 174 $52,880,000 $303,908 $4,475 4.25%
    $100k-200k 96 $13,970,000 $145,521 $3,551 4.52%
    $400k-600k 90 $41,910,000 $465,667 $4,995 4.27%
    $100,000 or less 75 $4,925,000 $65,667 $3,310 5.97%
    $600k-1MM 5 $3,505,000 $701,000 $5,970 4.35%

    2019 saw Municipal Credit Union place emphasis on $200k-400k loans with 174 originations, totaling $52,880,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 160 $48,650,000 $304,063 $4,524 4.63%
    $75k-100k 114 $25,110,000 $220,263 $3,943 4.64%
    $150k-250k 78 $25,510,000 $327,051 $4,685 4.65%
    $50k-75k 60 $10,660,000 $177,667 $3,961 4.50%
    $50k or less 16 $2,160,000 $135,000 $3,414 4.47%
    $250k+ 12 $5,100,000 $425,000 $5,308 4.49%

    Municipal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 160 originations. The second most popular income band? $75k-100k, with 114 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 103 $29,875,000 $290,049 $4,511 4.48%
    20-30% 90 $19,260,000 $214,000 $4,058 4.58%
    43% 28 $8,760,000 $312,857 $4,660 5.04%
    37% 27 $7,205,000 $266,852 $4,228 4.56%
    <20% 26 $4,220,000 $162,308 $3,608 4.29%
    44% 25 $6,605,000 $264,200 $4,462 4.81%
    41% 24 $6,620,000 $275,833 $4,222 4.82%
    38% 22 $7,090,000 $322,273 $4,460 4.51%
    39% 20 $6,010,000 $300,500 $4,146 4.42%
    40% 19 $5,265,000 $277,105 $4,459 5.09%
    36% 14 $3,260,000 $232,857 $4,127 4.91%
    42% 13 $4,255,000 $327,308 $4,111 4.63%
    45% 13 $3,935,000 $302,692 $4,769 4.56%
    46% 7 $1,915,000 $273,571 $4,397 4.20%
    47% 4 $1,200,000 $300,000 $4,629 4.63%
    48% 3 $1,035,000 $345,000 $4,162 4.54%
    49% 1 $285,000 $285,000 $3,965 4.25%
    >60% 1 $395,000 $395,000 $4,024 4.38%

    Municipal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 103 originations. The next most common DTI ratio? 20-30%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Black 193 $52,455,000 $271,788 $4,301 4.66%
    White 134 $35,350,000 $263,806 $4,322 4.58%
    Not provided 71 $15,895,000 $223,873 $4,219 4.71%
    Asian 34 $10,720,000 $315,294 $4,296 4.29%
    American Indian 2 $680,000 $340,000 $4,611 3.75%
    Native Hawaiian or Islander 2 $660,000 $330,000 $4,448 4.56%
    Chinese 1 $505,000 $505,000 $5,384 4.50%
    Asian Indian 2 $470,000 $235,000 $3,882 4.69%
    Other Pacific Islander 1 $455,000 $455,000 $4,347 4.25%

    Approval Rates

    Total approvals of all applications
    59.79%

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

    Pick Rate

    Approvals leading to origination
    76.82%

    Municipal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 440 $117,190,000 $266,341

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 440 $117,190,000 $266,341

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $9,020,000 $225,500 $4,287 4.08%
    40-60% 50 $13,170,000 $263,400 $4,261 4.13%
    60-80% 148 $48,690,000 $328,986 $4,437 4.31%
    80-100% 150 $42,490,000 $283,267 $4,198 4.45%
    Under 20% 52 $3,820,000 $73,462 $3,964 6.80%