Members First Credit Union Mortgage Rates, Fees & Info

Brigham City, UT

LEI: 54930032YM5T2EF3J715

Tax ID: 87-0241679

Latest/2024 | 2023 Data | 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
  • 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

    Members First Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Members First Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ogden, Logan, and Salt Lake City among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Members First Credit Union has an average approval rate when compared to the average across all lenders. They have an 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.

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    Originations

    52

    Origination Dollar Volume (All Markets)

    $4,760,000

    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
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 48 $4,580,000 $95,417 $1,349 7.80%
    LOGAN, UT-ID (FHA|USDA|VA) 3 $145,000 $48,333 $747 7.82%
    SALT LAKE CITY, UT (FHA|USDA|VA) 1 $35,000 $35,000 $690 7.99%
    Members First Credit Union's top markets include Ogden, Logan, and Salt Lake City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 52 $4,760,000 $91,538 $1,302 7.80%

    For 2024, Members First Credit Union's most frequently originated type of loan was Conventional, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 22 $2,200,000 $100,000 $1,362 7.75%
    Cash Out Refi 15 $1,465,000 $97,667 $1,415 7.79%
    Refi 9 $705,000 $78,333 $1,158 7.88%
    Other 6 $390,000 $65,000 $1,015 7.91%

    For 2024, Members First Credit Union's most frequently cited loan purpose was Home Improvement, with 22 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 50 $4,620,000 $92,400 $1,314 7.80%
    Other 2 $140,000 $70,000 $994 7.86%

    For 2024, Members First Credit Union's most frequently cited loan duration was 10 Year, with 50 originations. The 2nd most popular length was Other, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2 $140,000 $70,000

    Members First Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 46 $4,290,000 $93,261
    Over 8% 5 $365,000 $73,000
    6-7% 1 $105,000 $105,000

    During 2024, Members First Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 37 $2,075,000 $56,081 $894 7.84%
    $100k-200k 10 $1,370,000 $137,000 $1,794 7.74%
    $200k-400k 4 $840,000 $210,000 $2,705 7.74%
    $400k-600k 1 $475,000 $475,000 $5,863 7.24%

    2024 saw Members First Credit Union place emphasis on $100,000 or less loans with 37 originations, totaling $2,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $1,760,000 $88,000 $1,226 7.99%
    $150k-250k 11 $1,135,000 $103,182 $1,462 7.58%
    $50k-75k 8 $390,000 $48,750 $847 7.81%
    $75k-100k 8 $860,000 $107,500 $1,479 7.65%
    $250k+ 3 $505,000 $168,333 $2,179 7.99%
    $50k or less 2 $110,000 $55,000 $973 7.49%

    Members First Credit Union lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $150k-250k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $2,010,000 $100,500 $1,448 7.70%
    30-36% 7 $615,000 $87,857 $1,219 7.68%
    37% 4 $290,000 $72,500 $1,022 8.05%
    44% 4 $320,000 $80,000 $1,170 7.87%
    <20% 3 $115,000 $38,333 $732 8.24%
    38% 3 $185,000 $61,667 $928 7.82%
    42% 3 $175,000 $58,333 $878 7.66%
    43% 3 $185,000 $61,667 $953 7.90%
    36% 2 $300,000 $150,000 $1,875 7.99%
    45% 1 $55,000 $55,000 $773 7.99%
    46% 1 $35,000 $35,000 $580 8.24%
    49% 1 $475,000 $475,000 $5,863 7.24%

    Members First Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 51 $4,665,000 $91,471 $1,304 7.80%
    Not provided 1 $95,000 $95,000 $1,208 7.99%

    Approval Rates

    Total approvals of all applications
    84.85%

    Members First Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    92.31%

    Members First Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 52 $4,760,000 $91,538

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    52 $4,760,000 $91,538

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,025,000 $113,889 $1,521 7.90%
    40-60% 6 $1,490,000 $248,333 $3,056 7.66%
    60-80% 1 $85,000 $85,000 $2,107 7.24%
    Under 20% 36 $2,160,000 $60,000 $932 7.82%