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 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, New Haven, Hartford, Worcester, and Bridgeport among others. We have data for 30 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.17% 11/21/24
    30 Year Conventional Refi 6.22% 11/21/24
    30 Year Cash-out Refi 6.30% 11/21/24
    30 Year FHA Purchase 6.93% 11/21/24
    30 Year FHA Refi 6.27% 11/21/24
    15 Year Conventional Purchase 5.57% 11/21/24
    15 Year Conventional Refi 5.51% 11/21/24
    15 Year Cash-out Refi 5.51% 11/21/24
    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

    2,132

    Origination Dollar Volume (All Markets)

    $664,420,000
    Show all (15) 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) 1,106 $422,960,000 $382,423 $2,801 2.96%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 365 $78,905,000 $216,178 $2,638 3.02%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 351 $74,025,000 $210,897 $2,590 3.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 73 $22,235,000 $304,589 $2,595 2.99%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 42 $13,550,000 $322,619 $2,835 2.99%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 34 $9,560,000 $281,176 $2,801 2.98%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 32 $9,470,000 $295,938 $2,462 2.85%
    SPRINGFIELD, MA (FHA|USDA|VA) 26 $6,760,000 $260,000 $2,691 3.04%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 20 $5,330,000 $266,500 $2,401 2.84%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 14 $3,870,000 $276,429 $2,455 3.04%
    Outside of Metro Areas 13 $3,865,000 $297,308 $2,634 3.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 17 $3,785,000 $222,647 $2,471 3.17%
    Torrington, CT (FHA|USDA|VA) 7 $1,495,000 $213,571 $2,579 3.14%
    Concord, NH (FHA|USDA|VA) 4 $1,160,000 $290,000 $2,686 2.91%
    Laconia, NH (FHA|USDA|VA) 5 $1,095,000 $219,000 $2,292 2.93%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,095,000 $365,000 $4,527 2.92%
    Lebanon, NH-VT (FHA|USDA|VA) 5 $985,000 $197,000 $2,827 2.93%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $565,000 $565,000 $3,228 3.25%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $530,000 $265,000 $4,109 3.38%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $515,000 $515,000 $3,542 3.13%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $405,000 $405,000 $3,165 3.13%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $400,000 $200,000 $2,436 2.88%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $335,000 $335,000 $3,435 2.88%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $325,000 $325,000 $2,405 2.88%
    Bennington, VT (FHA|USDA|VA) 1 $315,000 $315,000 $3,700 2.63%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,293 3.00%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $185,000 $185,000 $1,939 3.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 1 $185,000 $185,000 $2,588 3.13%
    Keene, NH (FHA|USDA|VA) 1 $155,000 $155,000 $2,339 3.13%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $135,000 $135,000 $2,847 3.00%
    Members Mortgage Company's top markets include Boston, New Haven, Hartford, Worcester, and Bridgeport among others.

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

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    Florence Bank
    Similarity Rank: 174
    CUMBERLAND COUNTY
    Similarity Rank: 176
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 222
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    GREATER SPRINGFIELD CREDIT UNION
    Similarity Rank: 259
    Stafford Savings Bank
    Similarity Rank: 266
    CASCO
    Similarity Rank: 324

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,128 $663,360,000 $311,729 $2,707 2.98%
    FHA 4 $1,060,000 $265,000 $8,374 3.88%

    For 2020, Members Mortgage Company's most frequently originated type of loan was Conventional, with 2,128 originations. Their 2nd most popular type was FHA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 932 $297,900,000 $319,635 $2,543 2.90%
    Cash Out Refi 692 $212,340,000 $306,850 $2,731 3.01%
    Home Purchase 361 $114,885,000 $318,241 $3,176 3.14%
    Other 117 $32,815,000 $280,470 $2,631 2.92%
    Home Improvement 30 $6,480,000 $216,000 $2,686 3.07%

    For 2020, Members Mortgage Company's most frequently cited loan purpose was Refi, with 932 originations. The 2nd most popular reason was Cash Out Refi, with 692 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,254 $431,170,000 $343,836 $2,843 3.12%
    15 Year 529 $140,745,000 $266,059 $2,546 2.73%
    20 Year 237 $65,075,000 $274,578 $2,533 2.91%
    10 Year 75 $16,085,000 $214,467 $2,449 2.59%
    Other 37 $11,345,000 $306,622 $2,653 3.07%

    For 2020, Members Mortgage Company's most frequently cited loan duration was 30 Year, with 1,254 originations. The 2nd most popular length was 15 Year, with 529 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,060 $644,260,000 $312,748
    $1k-2k 28 $6,290,000 $224,643
    $2k-3k 17 $4,105,000 $241,471
    $3k-4k 11 $3,205,000 $291,364
    $5k+ 11 $4,505,000 $409,545
    $4k-5k 5 $2,055,000 $411,000

    Members Mortgage Company's average total fees were $2,843, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,060 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,201 $361,195,000 $300,745
    3-4% 726 $238,260,000 $328,182
    <2.5% 195 $61,835,000 $317,103
    4-5% 10 $3,130,000 $313,000

    During 2020, Members Mortgage Company's average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,201 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,049 $304,875,000 $290,634 $2,648 2.96%
    $100k-200k 515 $80,505,000 $156,320 $2,440 2.98%
    $400k-600k 430 $202,500,000 $470,930 $3,042 2.99%
    $600k-1MM 97 $64,715,000 $667,165 $3,501 3.06%
    $100,000 or less 34 $2,970,000 $87,353 $2,357 3.04%
    $1MM+ 7 $8,855,000 $1,265,000 $4,670 3.48%

    2020 saw Members Mortgage Company place emphasis on $200k-400k loans with 1,049 originations, totaling $304,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 624 $231,410,000 $370,849 $2,854 2.96%
    $100k-150k 611 $182,095,000 $298,028 $2,676 2.97%
    $75k-100k 343 $84,975,000 $247,741 $2,611 2.98%
    $50k-75k 246 $48,300,000 $196,341 $2,527 3.03%
    $250k+ 241 $107,295,000 $445,207 $2,876 2.94%
    $50k or less 65 $9,915,000 $152,538 $2,517 3.14%

    Members Mortgage Company lent most frequently to those with incomes in the $150k-250k range, with 624 originations. The second most popular income band? $100k-150k, with 611 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 718 $227,690,000 $317,117 $2,744 2.96%
    30-36% 402 $121,750,000 $302,861 $2,717 3.01%
    <20% 344 $109,490,000 $318,285 $2,635 2.90%
    38% 72 $21,550,000 $299,306 $2,665 3.02%
    41% 66 $20,470,000 $310,152 $2,737 3.05%
    40% 64 $21,050,000 $328,906 $2,846 2.98%
    39% 62 $19,500,000 $314,516 $2,760 2.98%
    42% 60 $17,690,000 $294,833 $2,731 3.06%
    37% 60 $18,680,000 $311,333 $2,626 2.93%
    44% 57 $19,595,000 $343,772 $2,879 3.07%
    36% 56 $17,290,000 $308,750 $2,668 3.02%
    43% 49 $13,005,000 $265,408 $2,600 3.09%
    49% 29 $8,895,000 $306,724 $2,593 3.03%
    46% 27 $6,755,000 $250,185 $2,554 3.05%
    45% 25 $7,895,000 $315,800 $2,599 3.08%
    48% 20 $6,910,000 $345,500 $2,839 3.08%
    47% 15 $4,275,000 $285,000 $2,962 3.03%
    50-60% 6 $1,930,000 $321,667 $4,577 3.21%

    Members Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 718 originations. The next most common DTI ratio? 30-36%, with 402 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,188 $369,920,000 $311,380 $2,691 2.95%
    Not provided 786 $243,680,000 $310,025 $2,737 3.03%
    Asian 83 $29,505,000 $355,482 $2,805 2.89%
    Black 59 $15,865,000 $268,898 $2,897 3.10%
    Asian Indian 8 $2,840,000 $355,000 $2,542 3.02%
    American Indian 3 $1,195,000 $398,333 $2,787 2.88%
    Other Asian 2 $630,000 $315,000 $2,921 2.94%
    Chinese 2 $590,000 $295,000 $2,705 3.00%
    Native Hawaiian or Islander 1 $195,000 $195,000 $2,928 3.00%

    Approval Rates

    Total approvals of all applications
    92.60%

    Members Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.17%

    Members Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,132 $664,420,000 $311,642

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 2,131 $664,315,000 $311,739

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 180 $48,060,000 $267,000 $2,573 2.82%
    40-60% 530 $157,100,000 $296,415 $2,561 2.87%
    60-80% 1,016 $326,250,000 $321,112 $2,710 3.01%
    80-100% 383 $128,125,000 $334,530 $3,032 3.12%
    Under 20% 23 $4,885,000 $212,391 $2,570 2.77%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MEMBER MORTGAGE SERVICES FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%