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

Jump to:

Mortgage Data

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, Barnstable Town, Portland, and Worcester among others. We have data for 8 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

214

Origination Dollar Volume (All Markets)

$86,220,000

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) 184 $76,150,000 $413,859 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 13 $3,875,000 $298,077 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $2,150,000 $358,333 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 5 $1,775,000 $355,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 3 $1,205,000 $401,667 $0 0.00%
Outside of Metro Areas 1 $655,000 $655,000 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
PITTSFIELD, MA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
City Of Boston Credit Union's top markets include Boston, Providence, Barnstable Town, Portland, and Worcester among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 214 $86,220,000 $402,897 $0 0.00%

    For 2021, City Of Boston Credit Union's most frequently originated type of loan was Conventional, with 214 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 93 $35,115,000 $377,581 $0 0.00%
    Home Purchase 54 $26,390,000 $488,704 $0 0.00%
    Refi 30 $16,840,000 $561,333 $0 0.00%
    Home Improvement 20 $3,250,000 $162,500 $0 0.00%
    Other 17 $4,625,000 $272,059 $0 0.00%

    For 2021, City Of Boston Credit Union's most frequently cited loan purpose was Cash Out Refi, with 93 originations. The 2nd most popular reason was Home Purchase, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 214 $86,220,000 $402,897 $0 0.00%

    For 2021, City Of Boston Credit Union's most frequently cited loan duration was Other, with 214 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 81 $23,545,000 $290,679 $0 0.00%
    $400k-600k 50 $24,040,000 $480,800 $0 0.00%
    $100k-200k 28 $4,200,000 $150,000 $0 0.00%
    $600k-1MM 26 $18,850,000 $725,000 $0 0.00%
    $100,000 or less 18 $930,000 $51,667 $0 0.00%
    $1MM+ 11 $14,655,000 $1,332,273 $0 0.00%

    2021 saw City Of Boston Credit Union place emphasis on $200k-400k loans with 81 originations, totaling $23,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 60 $25,370,000 $422,833 $0 0.00%
    $100k-150k 57 $20,575,000 $360,965 $0 0.00%
    $250k+ 38 $24,870,000 $654,474 $0 0.00%
    $75k-100k 28 $7,970,000 $284,643 $0 0.00%
    $50k-75k 26 $6,480,000 $249,231 $0 0.00%
    $50k or less 5 $955,000 $191,000 $0 0.00%

    City Of Boston Credit Union lent most frequently to those with incomes in the $150k-250k range, with 60 originations. The second most popular income band? $100k-150k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 214 $86,220,000 $402,897 $0 0.00%

    City Of Boston Credit Union lent most frequently to those with DTI ratios of Exempt%, with 214 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 147 $62,405,000 $424,524 $0 0.00%
    Black 48 $15,930,000 $331,875 $0 0.00%
    Not provided 14 $4,950,000 $353,571 $0 0.00%
    Asian 4 $2,640,000 $660,000 $0 0.00%
    Native Hawaiian or Islander 1 $295,000 $295,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.44%

    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
    93.93%

    City Of Boston Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 214 $86,220,000 $402,897

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    214 $86,220,000 $402,897