Members Plus Credit Union Mortgage Rates, Fees & Info
Medford, MALEI: 254900VYWY829DG3Z473
Tax ID: 04-2039851
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Members Plus Credit Union is a smaller credit union specializing in Home Purchase loans. Members Plus Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Members Plus Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
29Origination Dollar Volume (All Markets)
$7,495,000Top 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) | 25 | $6,035,000 | $241,400 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $1,160,000 | $580,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Members Plus Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $7,495,000 | $258,448 | $0 | 0.00% |
For 2024, Members Plus Credit Union's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
For 2024, Members Plus Credit Union's most frequently cited loan purpose was Home Improvement, with 13 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 29 | $7,495,000 | $258,448 | $0 | 0.00% |
For 2024, Members Plus Credit Union's most frequently cited loan duration was Other, with 29 originations.
Loan Sizing
2024 saw Members Plus Credit Union place emphasis on $100,000 or less loans with 12 originations, totaling $650,000 in origination value.
Applicant Income
Members Plus Credit Union lent most frequently to those with incomes in the $150k-250k range, with 13 originations. The second most popular income band? $100k-150k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 29 | $7,495,000 | $258,448 | $0 | 0.00% |
Members Plus Credit Union lent most frequently to those with DTI ratios of Exempt%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.77%
Members Plus Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination68.97%
Members Plus 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 | 29 | $7,495,000 | $258,448 |