Members Mortgage Company Rates, Fees & InfoWINCHESTER, MA
Tax ID: 04-3243815
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewMembers Mortgage Company is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Members Mortgage Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Boston, New Haven, Hartford, Bridgeport, and Providence among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)
Members Mortgage Company 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. Members Mortgage Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.17%||3/24/23|
|30 Year Conventional Refi||6.22%||3/24/23|
|30 Year Cash-out Refi||6.30%||3/24/23|
|30 Year FHA Purchase||6.93%||3/24/23|
|30 Year FHA Refi||6.27%||3/24/23|
|15 Year Conventional Purchase||5.57%||3/24/23|
|15 Year Conventional Refi||5.51%||3/24/23|
|15 Year Cash-out Refi||5.51%||3/24/23|
|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.|
Origination Dollar Volume (All Markets)$213,510,000
Members Mortgage Company's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.47%.
Relative Fees (Closing Costs)
Members Mortgage Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,343.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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)||201||$96,855,000||$481,866||$3,584||3.78%|
|NEW HAVEN-MILFORD, CT (FHA|USDA|VA)||184||$44,660,000||$242,717||$2,880||3.99%|
|HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)||147||$34,535,000||$234,932||$2,948||4.24%|
|BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)||20||$7,640,000||$382,000||$3,029||3.68%|
|PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)||18||$6,780,000||$376,667||$3,773||4.39%|
|WORCESTER, MA-CT (FHA|USDA|VA)||16||$5,650,000||$353,125||$3,131||4.50%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||10||$3,380,000||$338,000||$2,912||3.76%|
|Torrington, CT (FHA|USDA|VA)||11||$2,955,000||$268,636||$3,488||4.65%|
|NORWICH-NEW LONDON, CT (FHA|USDA|VA)||9||$2,395,000||$266,111||$2,734||4.13%|
|SPRINGFIELD, MA (FHA|USDA|VA)||9||$2,105,000||$233,889||$3,253||4.29%|
|MANCHESTER-NASHUA, NH (FHA|USDA|VA)||6||$2,070,000||$345,000||$4,311||4.31%|
|PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA)||4||$1,970,000||$492,500||$3,181||3.81%|
|JACKSONVILLE, FL (FHA|USDA|VA)||1||$635,000||$635,000||$7,177||4.38%|
|Outside of Metro Areas||2||$610,000||$305,000||$2,853||5.88%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$415,000||$415,000||$4,526||3.25%|
|HOMOSASSA SPRINGS, FL (FHA|USDA|VA)||2||$290,000||$145,000||$3,335||3.19%|
|Laconia, NH (FHA|USDA|VA)||1||$255,000||$255,000||$2,882||3.00%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||1||$205,000||$205,000||$4,166||5.63%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||1||$105,000||$105,000||$4,041||4.13%|
Their top states include:
We use machine learning to identify the top lenders compared against MEMBERS MORTGAGE COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 52
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Members Mortgage Company's most frequently originated type of loan was Conventional, with 641 originations. Their 2nd most popular type was FHA, with 3 originations.
For 2022, Members Mortgage Company's most frequently cited loan purpose was Home Purchase, with 315 originations. The 2nd most popular reason was Cash Out Refi, with 209 originations.
For 2022, Members Mortgage Company's most frequently cited loan duration was 30 Year, with 487 originations. The 2nd most popular length was 15 Year, with 100 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Members Mortgage Company's average total fees were $3,343, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 609 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Members Mortgage Company's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 3-4%, with 208 originations.
2022 saw Members Mortgage Company place emphasis on $200k-400k loans with 285 originations, totaling $80,365,000 in origination value.
Members Mortgage Company lent most frequently to those with incomes in the $150k-250k range, with 172 originations. The second most popular income band? $100k-150k, with 154 originations.
Applicant Debt to Income Ratio
Members Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 161 originations. The next most common DTI ratio? 30-36%, with 133 originations.
Approval RatesTotal approvals of all applications
Members Mortgage Company has an average approval rate.
Pick RateApprovals leading to origination
Members Mortgage Company has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|