Metrowest Community Federal Credit Union Mortgage Rates, Fees & Info

Framingham, MA

LEI: 254900HWPC2WEGN8NF25

Tax ID: 04-2255766

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

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Mortgage Data

  • Originations
  • 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

    Metrowest Community Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Metrowest Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, and Providence among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Metrowest Community Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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.

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    Originations

    87

    Origination Dollar Volume (All Markets)

    $16,555,000

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 62 $11,980,000 $193,226 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 20 $3,600,000 $180,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $705,000 $235,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
    Metrowest Community Federal Credit Union's top markets include Boston, Worcester, Barnstable Town, and Providence among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 87 $16,555,000 $190,287 $0 0.00%

    For 2020, Metrowest Community Federal Credit Union's most frequently originated type of loan was Conventional, with 87 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 43 $10,105,000 $235,000 $0 0.00%
    Home Improvement 22 $1,230,000 $55,909 $0 0.00%
    Refi 15 $4,575,000 $305,000 $0 0.00%
    Other 5 $185,000 $37,000 $0 0.00%
    Home Purchase 2 $460,000 $230,000 $0 0.00%

    For 2020, Metrowest Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 43 originations. The 2nd most popular reason was Home Improvement, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 87 $16,555,000 $190,287 $0 0.00%

    For 2020, Metrowest Community Federal Credit Union's most frequently cited loan duration was Other, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 34 $1,680,000 $49,412 $0 0.00%
    $200k-400k 34 $9,100,000 $267,647 $0 0.00%
    $100k-200k 10 $1,450,000 $145,000 $0 0.00%
    $400k-600k 8 $3,720,000 $465,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2020 saw Metrowest Community Federal Credit Union place emphasis on $100,000 or less loans with 34 originations, totaling $1,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 29 $6,675,000 $230,172 $0 0.00%
    $100k-150k 19 $4,205,000 $221,316 $0 0.00%
    $75k-100k 19 $3,315,000 $174,474 $0 0.00%
    $50k-75k 9 $955,000 $106,111 $0 0.00%
    $250k+ 6 $1,020,000 $170,000 $0 0.00%
    $50k or less 5 $385,000 $77,000 $0 0.00%

    Metrowest Community Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 29 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 87 $16,555,000 $190,287 $0 0.00%

    Metrowest Community Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 51 $11,185,000 $219,314 $0 0.00%
    Not provided 34 $4,910,000 $144,412 $0 0.00%
    Asian 1 $255,000 $255,000 $0 0.00%
    Black 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.84%

    Metrowest Community Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.51%

    Metrowest Community Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 87 $16,555,000 $190,287

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 87 $16,555,000 $190,287