Members 1st Credit Union Mortgage Rates, Fees & Info
Redding, CALEI: 5493006MW6O2CE88BD43
Tax ID: 94-0362026
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Mortgage Data
Review & Overview
Members 1st Credit Union is a smaller credit union specializing in Refi and Home Improvement loans. Members 1st Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Redding, Chico, and Red Bluff among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Members 1st 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.28% | 11/21/24 |
| 30 Year Conventional Refi | 5.59% | 11/21/24 |
| 30 Year Cash-out Refi | 5.65% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 4.92% | 11/21/24 |
| 15 Year Cash-out Refi | 4.92% | 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 1st Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
34Origination Dollar Volume (All Markets)
$4,390,000Top 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 |
|---|---|---|---|---|---|
| REDDING, CA (FHA|USDA|VA) | 23 | $3,035,000 | $131,957 | $0 | 0.00% |
| CHICO, CA (FHA|USDA|VA) | 6 | $730,000 | $121,667 | $0 | 0.00% |
| Red Bluff, CA (FHA|USDA|VA) | 4 | $590,000 | $147,500 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $4,390,000 | $129,118 | $0 | 0.00% |
For 2018, Members 1st Credit Union's most frequently originated type of loan was Conventional, with 34 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 21 | $2,645,000 | $125,952 | $0 | 0.00% |
| Home Improvement | 8 | $930,000 | $116,250 | $0 | 0.00% |
| Cash Out Refi | 5 | $815,000 | $163,000 | $0 | 0.00% |
For 2018, Members 1st Credit Union's most frequently cited loan purpose was Refi, with 21 originations. The 2nd most popular reason was Home Improvement, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 34 | $4,390,000 | $129,118 | $0 | 0.00% |
For 2018, Members 1st Credit Union's most frequently cited loan duration was Other, with 34 originations.
Loan Sizing
2018 saw Members 1st Credit Union place emphasis on $100,000 or less loans with 16 originations, totaling $1,080,000 in origination value.
Applicant Income
Members 1st Credit Union lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 34 | $4,390,000 | $129,118 | $0 | 0.00% |
Members 1st Credit Union lent most frequently to those with DTI ratios of Exempt%, with 34 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $3,715,000 | $128,103 | $0 | 0.00% |
| Not provided | 5 | $675,000 | $135,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications72.58%
Members 1st Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination70.59%
Members 1st Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 34 | $4,390,000 | $129,118 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 34 | $4,390,000 | $129,118 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |