Mission City Federal Credit Union Mortgage Rates, Fees & Info

Santa Clara, CA

LEI: 2549006VWQC6XCFQO747

Tax ID: 94-1512765

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

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Mortgage Data

  • Originations
  • Relative Rates
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Mission City Federal Credit Union is a smaller credit union specializing in Other loans. Mission City Federal Credit Union has a high proportion of conventional loans.

    Mission City Federal Credit Union has an above average approval rate when compared to the average across all lenders. They typically have relatively high rates.

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    Originations

    49

    Origination Dollar Volume (All Markets)

    $11,825,000

    Relative Rate

    Mission City Federal Credit Union's average 30 year fixed mortgage rate was 6.15%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.33%.

    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
    Outside of Metro Areas 49 $11,825,000 $241,327 $0 6.90%
    Mission City Federal Credit Union's top markets include

    Their top states include:
  • California (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 41 $10,105,000 $246,463 $0 6.55%
    HELOC 8 $1,720,000 $215,000 n/a 8.66%

    For 2023, Mission City Federal Credit Union's most frequently originated type of loan was Conventional, with 41 originations. Their 2nd most popular type was HELOC, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 49 $11,825,000 $241,327 $0 6.90%

    For 2023, Mission City Federal Credit Union's most frequently cited loan purpose was Other, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 22 $6,710,000 $305,000 $0 6.68%
    10 Year 12 $810,000 $67,500 $0 6.77%
    Other 10 $2,240,000 $224,000 $0 8.03%
    30 Year 4 $1,900,000 $475,000 $0 6.15%
    20 Year 1 $165,000 $165,000 $0 4.75%

    For 2023, Mission City Federal Credit Union's most frequently cited loan duration was 15 Year, with 22 originations. The 2nd most popular length was 10 Year, with 12 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 14 $2,520,000 $180,000
    5-6% 13 $4,795,000 $368,846
    Over 8% 11 $1,975,000 $179,545
    7-8% 7 $1,265,000 $180,714
    4-5% 3 $1,005,000 $335,000
    2.5-3% 1 $265,000 $265,000

    During 2023, Mission City Federal Credit Union's average interest rate for loans was 6.15%, while their most frequently originated rate bucket for loans was 6-7%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $1,045,000 $55,000 $0 6.88%
    $200k-400k 14 $3,640,000 $260,000 $0 6.77%
    $400k-600k 8 $3,730,000 $466,250 $0 6.61%
    $100k-200k 7 $905,000 $129,286 $0 7.71%
    $1MM+ 1 $2,505,000 $2,505,000 $0 5.50%

    2023 saw Mission City Federal Credit Union place emphasis on $100,000 or less loans with 19 originations, totaling $1,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 17 $4,225,000 $248,529 $0 6.55%
    $150k-250k 17 $2,655,000 $156,176 $0 6.96%
    $250k+ 9 $4,285,000 $476,111 $0 7.08%
    $50k-75k 3 $195,000 $65,000 $0 5.83%
    $75k-100k 3 $465,000 $155,000 $0 9.00%

    Mission City Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $150k-250k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 13 $4,905,000 $377,308 $0 6.69%
    50-60% 8 $1,480,000 $185,000 $0 8.34%
    20-30% 7 $1,195,000 $170,714 $0 6.84%
    <20% 3 $135,000 $45,000 $0 6.67%
    39% 3 $495,000 $165,000 $0 5.83%
    46% 3 $445,000 $148,333 $0 7.42%
    >60% 3 $1,265,000 $421,667 $0 8.25%
    38% 2 $520,000 $260,000 $0 5.88%
    41% 1 $335,000 $335,000 $0 5.25%
    42% 1 $475,000 $475,000 $0 5.75%
    36% 1 $45,000 $45,000 $0 8.25%
    47% 1 $75,000 $75,000 $0 5.25%
    37% 1 $65,000 $65,000 $0 6.25%
    40% 1 $125,000 $125,000 $0 6.50%
    49% 1 $265,000 $265,000 $0 2.75%

    Mission City Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 13 originations. The next most common DTI ratio? 50-60%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 49 $11,825,000 $241,327 $0 6.90%

    Approval Rates

    Total approvals of all applications
    100.00%

    Mission City Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 49 $11,825,000 $241,327

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    49 $11,825,000 $241,327

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $4,465,000 $343,462 $0 6.63%
    40-60% 2 $750,000 $375,000 $0 5.88%
    60-80% 1 $435,000 $435,000 $0 6.86%
    80-100% 1 $255,000 $255,000 $0 5.25%
    Under 20% 32 $5,920,000 $185,000 $0 7.12%