Liberty Bay Credit Union Mortgage Rates, Fees & Info
Braintree, MALEI: 5493007Y306QGNH6J842
Tax ID: 04-1896000
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage 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
368Origination Dollar Volume (All Markets)
$125,170,000Top 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 applications96.38%
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 origination91.57%
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% |
