Quincy Credit Union Mortgage Rates, Fees & InfoQuincy, MA
Tax ID: 04-2314232
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewQuincy Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Quincy Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Providence, Worcester, and Vineyard Haven among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)
Quincy 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. Quincy Credit Union 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.23%||3/27/23|
|30 Year Conventional Refi||6.25%||3/27/23|
|30 Year Cash-out Refi||6.13%||3/27/23|
|15 Year Conventional Purchase||5.68%||3/27/23|
|15 Year Conventional Refi||5.80%||3/27/23|
|15 Year Cash-out Refi||5.80%||3/27/23|
|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)$52,845,000
Quincy Credit Union'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 -1.48%.
Relative Fees (Closing Costs)
Quincy Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,871.
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)||248||$50,310,000||$202,863||$801||4.10%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||3||$1,115,000||$371,667||$2,013||3.58%|
|PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)||6||$850,000||$141,667||$1,350||4.38%|
|WORCESTER, MA-CT (FHA|USDA|VA)||3||$435,000||$145,000||$810||4.71%|
|Vineyard Haven, MA (FHA|USDA|VA)||1||$135,000||$135,000||$0||6.25%|
Their top states include:
We use machine learning to identify the top lenders compared against QUINCY CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Quincy Credit Union's most frequently originated type of loan was Conventional, with 261 originations.
For 2022, Quincy Credit Union's most frequently cited loan purpose was Cash Out Refi, with 100 originations. The 2nd most popular reason was Other, with 74 originations.
For 2022, Quincy Credit Union's most frequently cited loan duration was 20 Year, with 67 originations. The 2nd most popular length was 15 Year, with 62 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Quincy Credit Union's average total fees were $2,871, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 240 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Quincy Credit Union's average interest rate for loans was 3.28%, while their most frequently originated rate bucket for loans was 3-4%, with 122 originations.
2022 saw Quincy Credit Union place emphasis on $100,000 or less loans with 127 originations, totaling $6,855,000 in origination value.
Quincy Credit Union lent most frequently to those with incomes in the $100k-150k range, with 77 originations. The second most popular income band? $150k-250k, with 76 originations.
Applicant Debt to Income Ratio
Quincy Credit Union lent most frequently to those with DTI ratios of 20-30%, with 50 originations. The next most common DTI ratio? 30-36%, with 48 originations.
Approval RatesTotal approvals of all applications
Quincy Credit Union has a below average approval rate.
Pick RateApprovals leading to origination
Quincy Credit Union has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|