Mass Bay Credit Union Mortgage Rates, Fees & Info

Boston, MA

LEI: 5493003VEEM09F16U659

Tax ID: 04-1104060

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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

    Mass Bay Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Mass Bay Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Worcester, and Laconia among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mass Bay 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.

    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.


    Originations

    42

    Origination Dollar Volume (All Markets)

    $5,390,000

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 37 $4,525,000 $122,297 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $575,000 $191,667 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Mass Bay Credit Union's top markets include Boston, Providence, Worcester, and Laconia among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 42 $5,390,000 $128,333 $0 0.00%

    For 2022, Mass Bay Credit Union's most frequently originated type of loan was Conventional, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 14 $1,890,000 $135,000 $0 0.00%
    Cash Out Refi 10 $1,430,000 $143,000 $0 0.00%
    Other 9 $1,035,000 $115,000 $0 0.00%
    Home Improvement 8 $720,000 $90,000 $0 0.00%
    Home Purchase 1 $315,000 $315,000 $0 0.00%

    For 2022, Mass Bay Credit Union's most frequently cited loan purpose was Refi, with 14 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 42 $5,390,000 $128,333 $0 0.00%

    For 2022, Mass Bay Credit Union's most frequently cited loan duration was Other, with 42 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 18 $2,410,000 $133,889 $0 0.00%
    $100,000 or less 17 $1,105,000 $65,000 $0 0.00%
    $200k-400k 7 $1,875,000 $267,857 $0 0.00%

    2022 saw Mass Bay Credit Union place emphasis on $100k-200k loans with 18 originations, totaling $2,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 13 $1,395,000 $107,308 $0 0.00%
    $100k-150k 11 $1,245,000 $113,182 $0 0.00%
    $150k-250k 11 $1,835,000 $166,818 $0 0.00%
    $250k+ 4 $650,000 $162,500 $0 0.00%
    $50k-75k 2 $190,000 $95,000 $0 0.00%
    $50k or less 1 $75,000 $75,000 $0 0.00%

    Mass Bay Credit Union lent most frequently to those with incomes in the $75k-100k range, with 13 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 42 $5,390,000 $128,333 $0 0.00%

    Mass Bay Credit Union lent most frequently to those with DTI ratios of Exempt%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $3,210,000 $123,462 $0 0.00%
    Not provided 10 $1,260,000 $126,000 $0 0.00%
    Asian 2 $410,000 $205,000 $0 0.00%
    Black 2 $290,000 $145,000 $0 0.00%
    American Indian 1 $155,000 $155,000 $0 0.00%
    Other Asian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.20%

    Mass Bay Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    54.76%

    Mass Bay 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
    Exempt 42 $5,390,000 $128,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    42 $5,390,000 $128,333