City Of Boston Credit Union Mortgage Rates, Fees & Info

Boston, MA

LEI: 254900PH44D8BB632E53

Tax ID: 04-1103180

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

    City Of Boston Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. City Of Boston Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Springfield, and Barnstable Town 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 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

    198

    Origination Dollar Volume (All Markets)

    $43,740,000

    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) 190 $42,260,000 $222,421 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $1,110,000 $185,000 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    City Of Boston Credit Union's top markets include Boston, Providence, Springfield, and Barnstable Town 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 198 $43,740,000 $220,909 $0 0.00%

    For 2019, City Of Boston Credit Union's most frequently originated type of loan was Conventional, with 198 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 148 $26,390,000 $178,311 $0 0.00%
    Home Purchase 36 $12,850,000 $356,944 $0 0.00%
    Other 8 $2,470,000 $308,750 $0 0.00%
    Refi 4 $1,320,000 $330,000 $0 0.00%
    Home Improvement 2 $710,000 $355,000 $0 0.00%

    For 2019, City Of Boston Credit Union's most frequently cited loan purpose was Cash Out Refi, with 148 originations. The 2nd most popular reason was Home Purchase, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 198 $43,740,000 $220,909 $0 0.00%

    For 2019, City Of Boston Credit Union's most frequently cited loan duration was Other, with 198 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 72 $3,770,000 $52,361 $0 0.00%
    $200k-400k 54 $15,720,000 $291,111 $0 0.00%
    $400k-600k 35 $16,735,000 $478,143 $0 0.00%
    $100k-200k 33 $4,615,000 $139,848 $0 0.00%
    $600k-1MM 4 $2,900,000 $725,000 $0 0.00%

    2019 saw City Of Boston Credit Union place emphasis on $100,000 or less loans with 72 originations, totaling $3,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 63 $13,475,000 $213,889 $0 0.00%
    $100k-150k 61 $14,055,000 $230,410 $0 0.00%
    $75k-100k 25 $5,765,000 $230,600 $0 0.00%
    $250k+ 24 $7,030,000 $292,917 $0 0.00%
    $50k-75k 21 $3,115,000 $148,333 $0 0.00%
    $50k or less 4 $300,000 $75,000 $0 0.00%

    City Of Boston Credit Union lent most frequently to those with incomes in the $150k-250k range, with 63 originations. The second most popular income band? $100k-150k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 198 $43,740,000 $220,909 $0 0.00%

    City Of Boston Credit Union lent most frequently to those with DTI ratios of Exempt%, with 198 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 158 $34,250,000 $216,772 $0 0.00%
    Black 36 $8,460,000 $235,000 $0 0.00%
    Not provided 1 $475,000 $475,000 $0 0.00%
    Other Pacific Islander 1 $355,000 $355,000 $0 0.00%
    Asian 2 $200,000 $100,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.07%

    City Of Boston Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    97.47%

    City Of Boston 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 198 $43,740,000 $220,909

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 198 $43,740,000 $220,909