Members Mortgage Company Rates, Fees & Info

WINCHESTER, MA

LEI: 5493005HTCBH4TWCVM82

Tax ID: 04-3243815

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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 Mortgage Company is a smaller mortgage company specializing in Home Purchase, Refi, 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, Hartford, New Haven, Bridgeport, and Worcester among others. We have data for 23 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.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.17% 11/22/24
    30 Year Conventional Refi 6.22% 11/22/24
    30 Year Cash-out Refi 6.30% 11/22/24
    30 Year FHA Purchase 6.93% 11/22/24
    30 Year FHA Refi 6.27% 11/22/24
    15 Year Conventional Purchase 5.57% 11/22/24
    15 Year Conventional Refi 5.51% 11/22/24
    15 Year Cash-out Refi 5.51% 11/22/24
    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.

    Members Mortgage Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Members Mortgage Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,052

    Origination Dollar Volume (All Markets)

    $312,010,000
    Show all (17) awards

    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) 531 $192,245,000 $362,043 $3,151 3.73%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 187 $41,345,000 $221,096 $2,805 3.75%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 177 $36,585,000 $206,695 $2,928 3.71%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 22 $6,950,000 $315,909 $2,978 3.75%
    WORCESTER, MA-CT (FHA|USDA|VA) 23 $6,495,000 $282,391 $3,086 3.77%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 20 $5,840,000 $292,000 $2,615 3.56%
    SPRINGFIELD, MA (FHA|USDA|VA) 23 $5,185,000 $225,435 $2,897 3.81%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 17 $4,745,000 $279,118 $2,670 3.59%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 12 $3,570,000 $297,500 $2,839 3.73%
    Outside of Metro Areas 6 $1,710,000 $285,000 $3,831 3.79%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 9 $1,675,000 $186,111 $2,790 3.96%
    Torrington, CT (FHA|USDA|VA) 9 $1,625,000 $180,556 $2,784 3.86%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 4 $970,000 $242,500 $2,465 3.66%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $855,000 $855,000 $4,976 4.38%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $485,000 $485,000 $3,711 5.13%
    Laconia, NH (FHA|USDA|VA) 2 $450,000 $225,000 $2,008 3.38%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,596 4.38%
    Keene, NH (FHA|USDA|VA) 1 $185,000 $185,000 $2,565 3.50%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $180,000 $90,000 $2,255 4.44%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,074 4.25%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $175,000 $175,000 $1,842 3.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,615 2.88%
    OCALA, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,833 4.25%
    Members Mortgage Company's top markets include Boston, Hartford, New Haven, Bridgeport, and Worcester among others.

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

    • Similar Lenders

    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.

    SOMERSET
    Similarity Rank: 26
    The Torrington Savings Bank
    Similarity Rank: 70
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 80
    Florence Bank
    Similarity Rank: 96
    Rhode Island Credit Union
    Similarity Rank: 116
    Stafford Savings Bank
    Similarity Rank: 124
    CASCO
    Similarity Rank: 126
    HOLYOKE
    Similarity Rank: 132
    First Ipswich Bank
    Similarity Rank: 139
    POLISH NATIONAL
    Similarity Rank: 152

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,042 $308,920,000 $296,468 $2,951 3.73%
    FHA 10 $3,090,000 $309,000 $9,563 4.26%

    For 2019, Members Mortgage Company's most frequently originated type of loan was Conventional, with 1,042 originations. Their 2nd most popular type was FHA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 460 $137,910,000 $299,804 $3,370 3.90%
    Refi 268 $80,260,000 $299,478 $2,545 3.51%
    Cash Out Refi 266 $76,890,000 $289,060 $2,897 3.73%
    Other 45 $14,055,000 $312,333 $2,765 3.41%
    Home Improvement 13 $2,895,000 $222,692 $3,296 3.95%

    For 2019, Members Mortgage Company's most frequently cited loan purpose was Home Purchase, with 460 originations. The 2nd most popular reason was Refi, with 268 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 778 $241,270,000 $310,116 $3,127 3.89%
    15 Year 208 $53,600,000 $257,692 $2,677 3.19%
    20 Year 45 $12,205,000 $271,222 $2,815 3.83%
    10 Year 15 $3,285,000 $219,000 $2,538 3.16%
    Other 6 $1,650,000 $275,000 $2,646 3.71%

    For 2019, Members Mortgage Company's most frequently cited loan duration was 30 Year, with 778 originations. The 2nd most popular length was 15 Year, with 208 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 942 $279,520,000 $296,730
    $1k-2k 51 $12,795,000 $250,882
    $2k-3k 24 $7,200,000 $300,000
    $5k+ 17 $7,015,000 $412,647
    $3k-4k 15 $4,625,000 $308,333
    $4k-5k 3 $855,000 $285,000

    Members Mortgage Company's average total fees were $3,127, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 942 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 645 $198,925,000 $308,411
    4-5% 248 $71,630,000 $288,831
    2.5-3% 142 $36,510,000 $257,113
    5-6% 17 $4,945,000 $290,882

    During 2019, Members Mortgage Company's average interest rate for loans was 3.89%, while their most frequently originated rate bucket for loans was 3-4%, with 645 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 538 $156,540,000 $290,967 $2,968 3.71%
    $100k-200k 259 $39,725,000 $153,378 $2,661 3.73%
    $400k-600k 179 $83,445,000 $466,173 $3,392 3.78%
    $600k-1MM 42 $29,510,000 $702,619 $4,594 3.79%
    $100,000 or less 34 $2,790,000 $82,059 $2,486 3.81%

    2019 saw Members Mortgage Company place emphasis on $200k-400k loans with 538 originations, totaling $156,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 337 $99,415,000 $295,000 $3,038 3.75%
    $150k-250k 250 $91,950,000 $367,800 $3,135 3.67%
    $75k-100k 175 $43,535,000 $248,771 $2,974 3.77%
    $50k-75k 155 $30,005,000 $193,581 $2,774 3.81%
    $250k+ 93 $41,125,000 $442,204 $3,327 3.66%
    $50k or less 42 $5,980,000 $142,381 $2,454 3.70%

    Members Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 337 originations. The second most popular income band? $150k-250k, with 250 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 300 $90,100,000 $300,333 $2,864 3.63%
    30-36% 223 $65,065,000 $291,771 $3,013 3.76%
    <20% 116 $34,380,000 $296,379 $2,957 3.61%
    38% 43 $15,305,000 $355,930 $3,218 3.74%
    43% 37 $10,885,000 $294,189 $3,299 3.71%
    42% 36 $11,810,000 $328,056 $3,193 3.72%
    37% 36 $10,820,000 $300,556 $3,008 3.67%
    41% 36 $9,470,000 $263,056 $3,071 3.84%
    40% 35 $10,235,000 $292,429 $2,916 3.75%
    39% 34 $9,010,000 $265,000 $2,703 3.83%
    44% 32 $9,720,000 $303,750 $3,289 4.02%
    36% 31 $8,965,000 $289,194 $3,626 3.94%
    45% 26 $7,770,000 $298,846 $3,228 3.96%
    48% 18 $6,000,000 $333,333 $2,901 3.67%
    47% 16 $4,040,000 $252,500 $2,839 4.06%
    49% 16 $3,920,000 $245,000 $2,970 3.85%
    46% 13 $3,475,000 $267,308 $2,838 4.32%
    50-60% 4 $1,040,000 $260,000 $6,122 3.78%

    Members Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 300 originations. The next most common DTI ratio? 30-36%, with 223 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 544 $168,930,000 $310,533 $3,016 3.71%
    Not provided 434 $119,990,000 $276,475 $2,951 3.77%
    Black 36 $10,880,000 $302,222 $3,213 3.89%
    Asian 30 $9,380,000 $312,667 $3,496 3.52%
    Asian Indian 4 $1,440,000 $360,000 $3,033 3.78%
    Chinese 3 $1,225,000 $408,333 $2,634 3.54%
    Filipino 1 $165,000 $165,000 $8,438 3.38%

    Approval Rates

    Total approvals of all applications
    91.07%

    Members Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.77%

    Members Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,052 $312,010,000 $296,587

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $95,000 $95,000
    Single Family (1-4 Units):Site-Built 1,051 $311,915,000 $296,779

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 72 $16,830,000 $233,750 $2,851 3.50%
    40-60% 206 $60,620,000 $294,272 $2,773 3.58%
    60-80% 444 $132,460,000 $298,333 $2,927 3.73%
    80-100% 319 $100,365,000 $314,624 $3,345 3.90%
    Under 20% 11 $1,735,000 $157,727 $2,475 3.44%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MEMBER MORTGAGE SERVICES FHA mortgage Trouble during payment process 1 100.0%