Quincy Credit Union Mortgage Rates, Fees & Info

Quincy, MA

LEI: 5493006T76QKSBS2MS95

Tax ID: 04-2314232

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Quincy 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, Vineyard Haven, and Worcester 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 an 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.

    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 6.23% 4/21/24
    30 Year Conventional Refi 6.25% 4/21/24
    30 Year Cash-out Refi 6.13% 4/21/24
    15 Year Conventional Purchase 5.68% 4/21/24
    15 Year Conventional Refi 5.80% 4/21/24
    15 Year Cash-out Refi 5.80% 4/21/24
    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.

    Quincy Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Quincy Credit Union. 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

    205

    Origination Dollar Volume (All Markets)

    $32,555,000

    Awards

    QUINCY CREDIT UNION 30 Year Conventional Loans gold QUINCY CREDIT UNION 30 Year Conventional Loans silver QUINCY CREDIT UNION 30 Year Conventional Loans silver
    Show all (3) 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) 195 $30,515,000 $156,487 $1,108 4.78%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 5 $925,000 $185,000 $1,954 4.53%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $450,000 $225,000 $2,337 4.50%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $405,000 $405,000 $4,349 4.50%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $260,000 $130,000 $1,133 4.56%
    Quincy Credit Union's top markets include Boston, Barnstable Town, Providence, Vineyard Haven, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Similar Lenders

    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.

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    Methuen Cooperative Bank
    Similarity Rank: 330
    The Cooperative Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 205 $32,555,000 $158,805 $1,157 4.77%

    For 2018, Quincy Credit Union's most frequently originated type of loan was Conventional, with 205 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 68 $14,650,000 $215,441 $1,641 4.56%
    Other 41 $2,455,000 $59,878 $109 5.06%
    Home Improvement 40 $2,260,000 $56,500 $84 5.11%
    Home Purchase 35 $10,095,000 $288,429 $2,800 4.42%
    Refi 21 $3,095,000 $147,381 $943 4.79%

    For 2018, Quincy Credit Union's most frequently cited loan purpose was Cash Out Refi, with 68 originations. The 2nd most popular reason was Other, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 70 $19,370,000 $276,714 $2,477 4.37%
    15 Year 65 $5,845,000 $89,923 $242 5.29%
    10 Year 40 $2,120,000 $53,000 $16 4.94%
    5 Year 14 $550,000 $39,286 $0 4.63%
    20 Year 12 $3,330,000 $277,500 $3,006 3.95%
    30+ year 3 $1,215,000 $405,000 $3,169 4.42%
    Other 1 $125,000 $125,000 $1,905 3.88%

    For 2018, Quincy Credit Union's most frequently cited loan duration was 30 Year, with 70 originations. The 2nd most popular length was 15 Year, with 65 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 202 $31,820,000 $157,525
    $5k+ 2 $510,000 $255,000
    $4k-5k 1 $225,000 $225,000

    Quincy Credit Union's average total fees were $2,477, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 202 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 118 $20,760,000 $175,932
    5-6% 62 $4,560,000 $73,548
    3-4% 25 $7,235,000 $289,400

    During 2018, Quincy Credit Union's average interest rate for loans was 4.37%, while their most frequently originated rate bucket for loans was 4-5%, with 118 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 90 $4,050,000 $45,000 $26 5.11%
    $200k-400k 66 $18,750,000 $284,091 $2,546 4.34%
    $100k-200k 39 $5,485,000 $140,641 $965 4.82%
    $400k-600k 10 $4,270,000 $427,000 $2,923 4.26%

    2018 saw Quincy Credit Union place emphasis on $100,000 or less loans with 90 originations, totaling $4,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 63 $10,825,000 $171,825 $1,157 4.70%
    $150k-250k 45 $8,265,000 $183,667 $1,375 4.76%
    $75k-100k 45 $7,155,000 $159,000 $1,182 4.73%
    $50k-75k 34 $4,730,000 $139,118 $1,183 4.76%
    $50k or less 13 $995,000 $76,538 $488 5.04%
    $250k+ 5 $585,000 $117,000 $537 5.13%

    Quincy Credit Union lent most frequently to those with incomes in the $100k-150k range, with 63 originations. The second most popular income band? $150k-250k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $7,940,000 $172,609 $1,620 4.61%
    30-36% 39 $6,395,000 $163,974 $1,419 4.72%
    <20% 21 $2,265,000 $107,857 $619 4.93%
    42% 11 $2,105,000 $191,364 $906 4.49%
    45% 10 $1,360,000 $136,000 $719 4.86%
    41% 10 $1,660,000 $166,000 $1,014 4.96%
    50-60% 9 $955,000 $106,111 $699 4.93%
    39% 8 $1,530,000 $191,250 $1,206 4.72%
    44% 8 $1,620,000 $202,500 $1,499 4.94%
    38% 7 $1,245,000 $177,857 $1,124 4.71%
    40% 6 $1,090,000 $181,667 $1,593 4.71%
    37% 5 $1,205,000 $241,000 $1,927 4.48%
    43% 5 $765,000 $153,000 $1,044 4.95%
    46% 4 $560,000 $140,000 $487 5.00%
    47% 4 $280,000 $70,000 $0 5.13%
    48% 3 $555,000 $185,000 $847 4.38%
    49% 3 $325,000 $108,333 $771 4.79%
    36% 3 $385,000 $128,333 $0 5.21%
    >60% 3 $315,000 $105,000 $0 5.29%

    Quincy Credit Union lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 188 $30,320,000 $161,277 $1,186 4.76%
    Black 9 $1,155,000 $128,333 $776 4.76%
    Asian 7 $1,025,000 $146,429 $1,040 4.80%
    Not provided 1 $55,000 $55,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    77.85%

    Quincy Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    90.24%

    Quincy Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 205 $32,555,000 $158,805

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 205 $32,555,000 $158,805

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $4,315,000 $148,793 $841 4.88%
    40-60% 19 $4,475,000 $235,526 $2,578 4.24%
    60-80% 46 $13,790,000 $299,783 $2,530 4.34%
    80-100% 17 $5,175,000 $304,412 $2,535 4.46%
    Under 20% 94 $4,800,000 $51,064 $46 5.10%