City Of Boston Credit Union Mortgage Rates, Fees & Info

Boston, MA

LEI: 254900PH44D8BB632E53

Tax ID: 04-1103180

Latest/2024 | 2023 Data | 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

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

    City Of Boston 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

    40

    Origination Dollar Volume (All Markets)

    $5,140,000

    Top Markets

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    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) 37 $4,795,000 $129,595 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    City Of Boston Credit Union's top markets include Boston, Providence, Barnstable Town, and Laconia among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $5,140,000 $128,500 $0 0.00%

    For 2024, City Of Boston Credit Union's most frequently originated type of loan was Conventional, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 23 $1,815,000 $78,913 $0 0.00%
    Cash Out Refi 15 $2,345,000 $156,333 $0 0.00%
    Home Purchase 2 $980,000 $490,000 $0 0.00%

    For 2024, City Of Boston Credit Union's most frequently cited loan purpose was Other, with 23 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 40 $5,140,000 $128,500 $0 0.00%

    For 2024, City Of Boston Credit Union's most frequently cited loan duration was Other, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 23 $1,485,000 $64,565 $0 0.00%
    $100k-200k 10 $1,410,000 $141,000 $0 0.00%
    $200k-400k 5 $1,265,000 $253,000 $0 0.00%
    $400k-600k 2 $980,000 $490,000 $0 0.00%

    2024 saw City Of Boston Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $1,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 15 $2,305,000 $153,667 $0 0.00%
    $100k-150k 9 $985,000 $109,444 $0 0.00%
    $250k+ 6 $860,000 $143,333 $0 0.00%
    $75k-100k 6 $710,000 $118,333 $0 0.00%
    $50k-75k 4 $280,000 $70,000 $0 0.00%

    City Of Boston Credit Union lent most frequently to those with incomes in the $150k-250k range, with 15 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 40 $5,140,000 $128,500 $0 0.00%

    City Of Boston Credit Union lent most frequently to those with DTI ratios of Exempt%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 20 $2,580,000 $129,000 $0 0.00%
    Black 14 $1,790,000 $127,857 $0 0.00%
    Not provided 6 $770,000 $128,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.23%

    City Of Boston Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    55.00%

    City Of Boston 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
    Exempt 40 $5,140,000 $128,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    40 $5,140,000 $128,500