Taunton Federal Credit Union Mortgage Rates, Fees & Info

Taunton, MA

LEI: 5493002AZUZUDBY8ZU75

Tax ID: 04-2162282

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
  • Similar Lenders
  • 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

    Taunton Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Taunton Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Providence, Boston, and Barnstable Town among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Taunton Federal 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. Taunton Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    85

    Origination Dollar Volume (All Markets)

    $15,285,000

    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
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 71 $12,855,000 $181,056 $2,670 5.10%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 12 $1,940,000 $161,667 $1,590 4.76%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $490,000 $245,000 $3,354 4.31%
    Taunton Federal Credit Union's top markets include Providence, Boston, and Barnstable Town among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against TAUNTON FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Westport Federal Credit Union
    Similarity Rank: 23
    Notre Dame Community Federal Credit Union
    Similarity Rank: 38
    PAWTUCKET
    Similarity Rank: 60
    Bank of Easton
    Similarity Rank: 66
    Charter Oak Federal Credit Union
    Similarity Rank: 66
    SOMERSET
    Similarity Rank: 99
    Sharon & Crescent United Credit Union
    Similarity Rank: 140
    HARVARD UNIVERSITY EMPLOYEES
    Similarity Rank: 168
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 189
    UniBank for Savings
    Similarity Rank: 234

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 85 $15,285,000 $179,824 $2,533 5.03%

    For 2018, Taunton Federal Credit Union's most frequently originated type of loan was Conventional, with 85 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 38 $9,360,000 $246,316 $4,617 5.12%
    Cash Out Refi 21 $3,115,000 $148,333 $2,283 5.10%
    Home Improvement 13 $475,000 $36,538 $332 4.24%
    Refi 13 $2,335,000 $179,615 $1,795 5.45%

    For 2018, Taunton Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 31 $6,795,000 $219,194 $779 5.47%
    30 Year 29 $6,645,000 $229,138 $4,059 4.84%
    15 Year 12 $1,160,000 $96,667 $819 5.66%
    5 Year 10 $350,000 $35,000 $234 3.59%
    20 Year 3 $335,000 $111,667 $1,791 4.67%

    For 2018, Taunton Federal Credit Union's most frequently cited loan duration was 10 Year, with 31 originations. The 2nd most popular length was 30 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $2,475,000 $190,385
    $3k-4k 3 $645,000 $215,000
    $1k-2k 2 $250,000 $125,000
    $2k-3k 2 $340,000 $170,000
    $5k+ 2 $500,000 $250,000
    $4k-5k 1 $325,000 $325,000

    Taunton Federal Credit Union's average total fees were $4,059, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 39 $7,345,000 $188,333
    5-6% 32 $7,200,000 $225,000
    3-4% 7 $315,000 $45,000
    2.5-3% 4 $210,000 $52,500
    7-8% 2 $100,000 $50,000
    6-7% 1 $115,000 $115,000

    During 2018, Taunton Federal Credit Union's average interest rate for loans was 4.84%, while their most frequently originated rate bucket for loans was 4-5%, with 39 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 31 $4,905,000 $158,226 $2,850 5.10%
    $200k-400k 28 $7,370,000 $263,214 $4,742 5.18%
    $100,000 or less 22 $910,000 $41,364 $573 4.71%
    $400k-600k 3 $1,385,000 $461,667 $3,962 5.00%
    $600k-1MM 1 $715,000 $715,000 $0 5.75%

    2018 saw Taunton Federal Credit Union place emphasis on $100k-200k loans with 31 originations, totaling $4,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 24 $4,210,000 $175,417 $2,635 4.89%
    $75k-100k 21 $4,495,000 $214,048 $3,453 5.05%
    $50k-75k 19 $3,085,000 $162,368 $2,050 4.94%
    $50k or less 12 $1,250,000 $104,167 $1,410 5.67%
    $150k-250k 6 $1,610,000 $268,333 $2,860 4.77%
    $250k+ 3 $635,000 $211,667 $931 4.62%

    Taunton Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $75k-100k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 18 $3,030,000 $168,333 $3,061 5.10%
    30-36% 11 $1,215,000 $110,455 $1,673 4.78%
    <20% 8 $640,000 $80,000 $1,253 4.48%
    39% 5 $735,000 $147,000 $3,218 4.20%
    41% 2 $540,000 $270,000 $1,610 4.81%
    36% 2 $60,000 $30,000 $413 3.49%
    37% 2 $440,000 $220,000 $5,487 4.63%
    43% 2 $300,000 $150,000 $4,362 5.06%
    46% 2 $220,000 $110,000 $1,775 4.69%
    49% 1 $395,000 $395,000 $4,549 4.88%
    45% 1 $35,000 $35,000 $425 5.75%
    50-60% 1 $505,000 $505,000 $5,129 4.88%
    48% 1 $235,000 $235,000 $6,636 4.63%
    38% 1 $45,000 $45,000 $425 4.75%
    42% 1 $255,000 $255,000 $2,287 4.25%

    Taunton Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? 30-36%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 71 $11,965,000 $168,521 $2,389 4.96%
    Black 9 $2,065,000 $229,444 $4,104 5.39%
    Asian 4 $1,210,000 $302,500 $5,129 5.53%
    Not provided 1 $45,000 $45,000 $425 4.75%

    Approval Rates

    Total approvals of all applications
    82.03%

    Taunton Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    89.41%

    Taunton Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    655.0 5 $475,000 $95,000
    NA 80 $14,810,000 $185,125

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 15 $3,925,000 $261,667
    Single Family (1-4 Units):Manufactured 5 $475,000 $95,000
    Single Family (1-4 Units):Site-Built 65 $10,885,000 $167,462

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,020,000 $102,000 $1,822 5.45%
    40-60% 10 $1,790,000 $179,000 $2,464 5.06%
    60-80% 31 $7,805,000 $251,774 $3,978 5.30%
    80-100% 15 $3,505,000 $233,667 $5,133 5.11%
    Over 100% 1 $245,000 $245,000 $0 5.75%
    Under 20% 17 $715,000 $42,059 $656 4.13%