Members First Credit Union Mortgage Rates, Fees & Info

Brigham City, UT

LEI: 54930032YM5T2EF3J715

Tax ID: 87-0241679

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
  • Complaints
  • 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 Cash Out Refi loans. Members First Credit Union has a high proportion of conventional loans. Their top two markets are Ogden and Logan .

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

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    Originations

    34

    Origination Dollar Volume (All Markets)

    $2,060,000

    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) 30 $1,700,000 $56,667 $519 5.59%
    LOGAN, UT-ID (FHA|USDA|VA) 3 $315,000 $105,000 $812 5.33%
    Outside of Metro Areas 1 $45,000 $45,000 $318 5.00%
    Members First Credit Union's top markets include Ogden and Logan among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $2,060,000 $60,588 $540 5.55%

    For 2019, Members First Credit Union's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 11 $1,015,000 $92,273 $482 5.55%
    Home Improvement 10 $310,000 $31,000 $549 5.85%
    Other 7 $235,000 $33,571 $360 5.43%
    Refi 4 $290,000 $72,500 $279 5.31%
    Home Purchase 2 $210,000 $105,000 $1,807 5.00%

    For 2019, Members First Credit Union's most frequently cited loan purpose was Cash Out Refi, with 11 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
    10 Year 26 $1,470,000 $56,538 $430 5.67%
    20 Year 4 $490,000 $122,500 $1,510 5.00%
    Other 3 $75,000 $25,000 $416 5.42%
    5 Year 1 $25,000 $25,000 $747 5.00%

    For 2019, Members First Credit Union's most frequently cited loan duration was 10 Year, with 26 originations. The 2nd most popular length was 20 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 25 $1,295,000 $51,800

    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 25 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 17 $1,395,000 $82,059
    5-6% 11 $465,000 $42,273
    6-7% 6 $200,000 $33,333

    During 2019, Members First Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 17 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 28 $1,140,000 $40,714 $484 5.65%
    $100k-200k 5 $715,000 $143,000 $822 5.10%
    $200k-400k 1 $205,000 $205,000 $917 5.00%

    2019 saw Members First Credit Union place emphasis on $100,000 or less loans with 28 originations, totaling $1,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $895,000 $68,846 $656 5.33%
    $50k or less 7 $435,000 $62,143 $589 5.43%
    $75k-100k 7 $305,000 $43,571 $425 5.96%
    $100k-150k 6 $280,000 $46,667 $387 5.79%
    $150k-250k 1 $145,000 $145,000 $367 5.00%

    Members First Credit Union lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $50k or less, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 7 $235,000 $33,571 $494 5.46%
    30-36% 6 $430,000 $71,667 $651 5.38%
    <20% 4 $250,000 $62,500 $633 5.00%
    42% 3 $185,000 $61,667 $321 5.67%
    36% 3 $95,000 $31,667 $309 6.08%
    43% 3 $385,000 $128,333 $799 5.33%
    40% 2 $50,000 $25,000 $693 6.25%
    38% 2 $40,000 $20,000 $487 6.00%
    39% 1 $45,000 $45,000 $313 6.00%
    45% 1 $45,000 $45,000 $353 6.00%
    47% 1 $155,000 $155,000 $393 5.00%
    50-60% 1 $145,000 $145,000 $0 5.50%

    Members First Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 33 $2,035,000 $61,667 $548 5.53%
    Black 1 $25,000 $25,000 $287 6.25%

    Approval Rates

    Total approvals of all applications
    79.07%

    Members First Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 34 $2,060,000 $60,588

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $60,000 $30,000
    Single Family (1-4 Units):Site-Built 32 $2,000,000 $62,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $570,000 $71,250 $512 5.41%
    40-60% 3 $265,000 $88,333 $324 5.00%
    60-80% 5 $695,000 $139,000 $1,148 5.10%
    Under 20% 18 $530,000 $29,444 $487 5.83%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MEMBER FIRST MORTGAGE, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 100.0%