Liberty Bay Credit Union Mortgage Rates, Fees & Info

Braintree, MA

LEI: 5493007Y306QGNH6J842

Tax ID: 04-1896000

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Liberty Bay Credit Union is a smaller credit union specializing in Cash Out Refi loans. Liberty Bay Credit Union has a high proportion of conventional loans. Their top markets include Boston, Barnstable Town, Providence, Worcester, and Laconia among others. Liberty Bay Credit Union has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors.


Originations

368

Origination Dollar Volume (All Markets)

$125,170,000

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 322 $109,820,000 $341,056 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 15 $6,655,000 $443,667 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 25 $6,645,000 $265,800 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 5 $1,825,000 $365,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%

Liberty Bay Credit Union's top markets include Boston, Barnstable Town, Providence, Worcester, and Laconia among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 368 $125,170,000 $340,136 $0 0.00%

For the 2021 period, Liberty Bay Credit Union's most frequently originated loan type of loans were Conventional, with 368 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 207 $75,265,000 $363,599 $0 0.00%
Refi 78 $24,250,000 $310,897 $0 0.00%
Home Purchase 48 $22,130,000 $461,042 $0 0.00%
Home Improvement 28 $3,020,000 $107,857 $0 0.00%
Other 7 $505,000 $72,143 $0 0.00%

For the 2021, Liberty Bay Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 207 originations. The 2nd most popular reason of loans were Refi, with 78 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 368 $125,170,000 $340,136 $0 0.00%

For the 2021, Liberty Bay Credit Union's most frequently cited loan length of loans were Other, with 368 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 170 $51,260,000 $301,529 $0 0.00%
$400k-600k 97 $46,745,000 $481,907 $0 0.00%
$100k-200k 45 $7,075,000 $157,222 $0 0.00%
$100,000 or less 35 $1,775,000 $50,714 $0 0.00%
$600k-1MM 16 $11,300,000 $706,250 $0 0.00%
$1MM+ 5 $7,015,000 $1,403,000 $0 0.00%

2021 saw Liberty Bay Credit Union place emphasis on $200k-400k loans with 170 originations, totaling $51,260,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 116 $39,580,000 $341,207 $0 0.00%
$150k-250k 93 $35,865,000 $385,645 $0 0.00%
$75k-100k 71 $20,745,000 $292,183 $0 0.00%
$50k-75k 41 $9,425,000 $229,878 $0 0.00%
$250k+ 25 $12,285,000 $491,400 $0 0.00%
$50k or less 17 $2,795,000 $164,412 $0 0.00%

Liberty Bay Credit Union lent most frequently to those with incomes in the $100k-150k range, with 116 originations. The second most popular income band? $150k-250k, with 93 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 368 $125,170,000 $340,136 $0 0.00%

Liberty Bay Credit Union lent most frequently to those with DTI ratios of Exempt%, with 368 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 288 $95,220,000 $330,625 $0 0.00%
Not provided 50 $16,120,000 $322,400 $0 0.00%
Black 21 $6,985,000 $332,619 $0 0.00%
Not applicable 5 $4,475,000 $895,000 $0 0.00%
Asian 4 $2,370,000 $592,500 $0 0.00%

Approval Rates

Total approvals of all applications
96.38%

Liberty Bay Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
91.57%

Liberty Bay Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 368 $125,170,000 $340,136

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
368 $125,170,000 $340,136

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Liberty Finance Co., Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%