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

Review & Overview

City Of Boston Credit Union is a smaller credit union specializing in Home Purchase 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, Barnstable Town, Providence, Worcester, and Manchester among others. We have data for 11 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.

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Originations

216

Origination Dollar Volume (All Markets)

$72,390,000

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) 182 $57,960,000 $318,462 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 9 $3,965,000 $440,556 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 8 $2,560,000 $320,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 4 $1,750,000 $437,500 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $1,380,000 $690,000 $0 0.00%
Keene, NH (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
PITTSFIELD, MA (FHA|USDA|VA) 1 $875,000 $875,000 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 3 $825,000 $275,000 $0 0.00%
Outside of Metro Areas 3 $745,000 $248,333 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $690,000 $345,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 1 $635,000 $635,000 $0 0.00%
City Of Boston Credit Union's top markets include Boston, Barnstable Town, Providence, Worcester, and Manchester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (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 216 $72,390,000 $335,139 $0 0.00%

    For 2022, City Of Boston Credit Union's most frequently originated type of loan was Conventional, with 216 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 85 $44,455,000 $523,000 $0 0.00%
    Cash Out Refi 48 $17,000,000 $354,167 $0 0.00%
    Other 40 $3,990,000 $99,750 $0 0.00%
    Home Improvement 36 $3,890,000 $108,056 $0 0.00%
    Refi 7 $3,055,000 $436,429 $0 0.00%

    For 2022, City Of Boston Credit Union's most frequently cited loan purpose was Home Purchase, with 85 originations. The 2nd most popular reason was Cash Out Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 216 $72,390,000 $335,139 $0 0.00%

    For 2022, City Of Boston Credit Union's most frequently cited loan duration was Other, with 216 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 58 $16,980,000 $292,759 $0 0.00%
    $100,000 or less 53 $2,935,000 $55,377 $0 0.00%
    $400k-600k 36 $17,210,000 $478,056 $0 0.00%
    $100k-200k 33 $4,455,000 $135,000 $0 0.00%
    $600k-1MM 29 $22,145,000 $763,621 $0 0.00%
    $1MM+ 7 $8,665,000 $1,237,857 $0 0.00%

    2022 saw City Of Boston Credit Union place emphasis on $200k-400k loans with 58 originations, totaling $16,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 71 $23,255,000 $327,535 $0 0.00%
    $250k+ 52 $26,110,000 $502,115 $0 0.00%
    $100k-150k 51 $12,355,000 $242,255 $0 0.00%
    $75k-100k 25 $7,265,000 $290,600 $0 0.00%
    $50k-75k 13 $2,615,000 $201,154 $0 0.00%
    $50k or less 4 $790,000 $197,500 $0 0.00%

    City Of Boston Credit Union lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $250k+, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 216 $72,390,000 $335,139 $0 0.00%

    City Of Boston Credit Union lent most frequently to those with DTI ratios of Exempt%, with 216 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 158 $51,790,000 $327,785 $0 0.00%
    Black 35 $9,175,000 $262,143 $0 0.00%
    Asian 12 $6,870,000 $572,500 $0 0.00%
    Not provided 9 $3,335,000 $370,556 $0 0.00%
    American Indian 1 $985,000 $985,000 $0 0.00%
    Other Pacific Islander 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.09%

    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
    99.07%

    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 216 $72,390,000 $335,139

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    216 $72,390,000 $335,139