Mountaincrest Credit Union Mortgage Rates, Fees & Info
ARLINGTON, WALEI: 5493002XPTKLVFJ8Z103
Tax ID: 91-0596314
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Mountaincrest Credit Union is a smaller credit union specializing in Other and Home Improvement loans. Mountaincrest Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Aberdeen, Bellingham, Bremerton, and Mount Vernon among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Mountaincrest 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.
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.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.45% | 12/16/24 |
| 30 Year Cash-out Refi | 6.78% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Refi | 6.42% | 12/16/24 |
| 15 Year Cash-out Refi | 6.42% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Mountaincrest Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Mountaincrest Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
32Origination Dollar Volume (All Markets)
$2,550,000Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 28 | $2,320,000 | $82,857 | $0 | 7.56% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 7.25% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.25% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.75% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 8.25% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 32 | $2,550,000 | $79,688 | $0 | 7.66% |
For 2023, Mountaincrest Credit Union's most frequently originated type of loan was Conventional, with 32 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 19 | $1,385,000 | $72,895 | $0 | 8.12% |
| Home Improvement | 10 | $810,000 | $81,000 | $0 | 7.08% |
| Refi | 3 | $355,000 | $118,333 | $0 | 6.75% |
For 2023, Mountaincrest Credit Union's most frequently cited loan purpose was Other, with 19 originations. The 2nd most popular reason was Home Improvement, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 31 | $2,505,000 | $80,806 | $0 | 7.73% |
| Other | 1 | $45,000 | $45,000 | $0 | 5.75% |
For 2023, Mountaincrest Credit Union's most frequently cited loan duration was 15 Year, with 31 originations. The 2nd most popular length was Other, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 12 | $1,170,000 | $97,500 |
| Over 8% | 10 | $520,000 | $52,000 |
| 6-7% | 9 | $815,000 | $90,556 |
| 5-6% | 1 | $45,000 | $45,000 |
During 2023, Mountaincrest Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 12 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 23 | $1,335,000 | $58,043 | $0 | 7.86% |
| $100k-200k | 9 | $1,215,000 | $135,000 | $0 | 7.17% |
2023 saw Mountaincrest Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $1,335,000 in origination value.
Applicant Income
Mountaincrest Credit Union lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
Mountaincrest Credit Union lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Mountaincrest 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 origination65.63%
Mountaincrest 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 |
|---|---|---|---|
| NA | 32 | $2,550,000 | $79,688 |