St. Michaels Fall River Federal Credit Union Mortgage Rates, Fees & Info
Fall River, MALEI: 5493003C0C251LC7CM06
Tax ID: 04-2182999
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
St. Michaels Fall River Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. St. Michaels Fall River 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.)St. Michaels Fall River Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
33Origination Dollar Volume (All Markets)
$11,955,000Top 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 |
|---|---|---|---|---|---|
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 30 | $10,220,000 | $340,667 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,490,000 | $745,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against St. Michaels Fall River Federal 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 | 33 | $11,955,000 | $362,273 | $0 | 0.00% |
For 2019, St. Michaels Fall River Federal Credit Union's most frequently originated type of loan was Conventional, with 33 originations.
Loan Reason
For 2019, St. Michaels Fall River Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 33 | $11,955,000 | $362,273 | $0 | 0.00% |
For 2019, St. Michaels Fall River Federal Credit Union's most frequently cited loan duration was Other, with 33 originations.
Loan Sizing
2019 saw St. Michaels Fall River Federal Credit Union place emphasis on $200k-400k loans with 18 originations, totaling $4,750,000 in origination value.
Applicant Income
St. Michaels Fall River Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $250k+, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 33 | $11,955,000 | $362,273 | $0 | 0.00% |
St. Michaels Fall River Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 33 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 32 | $11,880,000 | $371,250 | $0 | 0.00% |
| Asian | 1 | $75,000 | $75,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
St. Michaels Fall River Federal 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 33 | $11,955,000 | $362,273 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 33 | $11,955,000 | $362,273 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STONEGATE MORTGAGE CORPORATION | FHA mortgage | Struggling to pay mortgage | 1 | 100.0% |