Marshland Credit Union Mortgage Rates, Fees & Info
Brunswick, GALEI: 254900G9IPJDT4OZYN57
Tax ID: 58-0872500
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Mortgage Data
Review & Overview
Marshland Credit Union is a smaller credit union specializing in Home Purchase loans. Marshland Credit Union has a high proportion of conventional loans. Their top (well, only) market is Brunswick.Marshland 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. Marshland Credit Union is typically an average 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.
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Originations
13Origination Dollar Volume (All Markets)
$2,385,000Top 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 |
|---|---|---|---|---|---|
| BRUNSWICK, GA (FHA|USDA|VA) | 13 | $2,385,000 | $183,462 | $3,761 | 6.08% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 13 | $2,385,000 | $183,462 | $3,761 | 6.08% |
For 2021, Marshland Credit Union's most frequently originated type of loan was Conventional, with 13 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 11 | $2,285,000 | $207,727 | $4,108 | 5.89% |
| Cash Out Refi | 2 | $100,000 | $50,000 | $1,853 | 7.13% |
For 2021, Marshland Credit Union's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
For 2021, Marshland Credit Union's most frequently cited loan duration was 15 Year, with 5 originations. The 2nd most popular length was 30 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 7 | $305,000 | $43,571 |
| $1k-2k | 3 | $475,000 | $158,333 |
| $4k-5k | 2 | $840,000 | $420,000 |
| $5k+ | 1 | $765,000 | $765,000 |
Marshland Credit Union's average total fees were $6,202, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 4 | $1,520,000 | $380,000 |
| 7-8% | 3 | $135,000 | $45,000 |
| 5-6% | 2 | $190,000 | $95,000 |
| Over 8% | 2 | $90,000 | $45,000 |
| 3-4% | 1 | $415,000 | $415,000 |
| 6-7% | 1 | $35,000 | $35,000 |
During 2021, Marshland Credit Union's average interest rate for loans was 4.05%, while their most frequently originated rate bucket for loans was 4-5%, with 4 originations.
Loan Sizing
2021 saw Marshland Credit Union place emphasis on $100,000 or less loans with 7 originations, totaling $305,000 in origination value.
Applicant Income
Marshland Credit Union lent most frequently to those with incomes in the $150k-250k range, with 3 originations. The second most popular income band? $250k+, with 3 originations.
Applicant Debt to Income Ratio
Marshland Credit Union lent most frequently to those with DTI ratios of <20%, with 3 originations. The next most common DTI ratio? 20-30%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 11 | $2,285,000 | $207,727 | $4,075 | 5.75% |
| Black | 2 | $100,000 | $50,000 | $2,033 | 7.88% |
Approval Rates
Total approvals of all applications64.15%
Marshland Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination-46.15%
Marshland 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 | 13 | $2,385,000 | $183,462 |