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 loans. Metrowest Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, and Portland 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 above average approval rate when compared to the average across all lenders. They have an above 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

    111

    Origination Dollar Volume (All Markets)

    $20,015,000

    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) 74 $13,870,000 $187,432 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 32 $5,550,000 $173,438 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $440,000 $110,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Metrowest Community Federal Credit Union's top markets include Boston, Worcester, Providence, and Portland among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 111 $20,015,000 $180,315 $0 0.00%

    For 2021, Metrowest Community Federal Credit Union's most frequently originated type of loan was Conventional, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 56 $14,080,000 $251,429 $0 0.00%
    Home Improvement 29 $1,745,000 $60,172 $0 0.00%
    Refi 14 $3,520,000 $251,429 $0 0.00%
    Other 12 $670,000 $55,833 $0 0.00%

    For 2021, Metrowest Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 56 originations. The 2nd most popular reason was Home Improvement, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 111 $20,015,000 $180,315 $0 0.00%

    For 2021, Metrowest Community Federal Credit Union's most frequently cited loan duration was Other, with 111 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,445,000 $52,021 $0 0.00%
    $200k-400k 37 $10,845,000 $293,108 $0 0.00%
    $100k-200k 19 $2,895,000 $152,368 $0 0.00%
    $400k-600k 8 $3,830,000 $478,750 $0 0.00%

    2021 saw Metrowest Community Federal Credit Union place emphasis on $100,000 or less loans with 47 originations, totaling $2,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 36 $7,620,000 $211,667 $0 0.00%
    $100k-150k 35 $6,505,000 $185,857 $0 0.00%
    $75k-100k 22 $2,880,000 $130,909 $0 0.00%
    $50k-75k 11 $1,635,000 $148,636 $0 0.00%
    $50k or less 4 $560,000 $140,000 $0 0.00%
    $250k+ 3 $815,000 $271,667 $0 0.00%

    Metrowest Community Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 36 originations. The second most popular income band? $100k-150k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 111 $20,015,000 $180,315 $0 0.00%

    Metrowest Community Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 69 $16,155,000 $234,130 $0 0.00%
    Not provided 38 $3,590,000 $94,474 $0 0.00%
    Asian 2 $150,000 $75,000 $0 0.00%
    Black 2 $120,000 $60,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.44%

    Metrowest Community Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.69%

    Metrowest Community Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 111 $20,015,000 $180,315

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    111 $20,015,000 $180,315