Metrowest Community Federal Credit Union Mortgage Rates, Fees & Info
Framingham, MALEI: 254900HWPC2WEGN8NF25
Tax ID: 04-2255766
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Mortgage Data
Review & Overview
Metrowest Community Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Metrowest Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, Barnstable Town, and Springfield among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Metrowest Community Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
81Origination Dollar Volume (All Markets)
$9,675,000Top 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 55 | $6,855,000 | $124,636 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 21 | $2,425,000 | $115,476 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 81 | $9,675,000 | $119,444 | $0 | 0.00% |
For 2019, Metrowest Community Federal Credit Union's most frequently originated type of loan was Conventional, with 81 originations.
Loan Reason
For 2019, Metrowest Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 33 originations. The 2nd most popular reason was Home Improvement, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 81 | $9,675,000 | $119,444 | $0 | 0.00% |
For 2019, Metrowest Community Federal Credit Union's most frequently cited loan duration was Other, with 81 originations.
Loan Sizing
2019 saw Metrowest Community Federal Credit Union place emphasis on $100,000 or less loans with 52 originations, totaling $2,450,000 in origination value.
Applicant Income
Metrowest Community Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $150k-250k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 81 | $9,675,000 | $119,444 | $0 | 0.00% |
Metrowest Community Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 81 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.40%
Metrowest Community Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination95.06%
Metrowest Community Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 81 | $9,675,000 | $119,444 |