First Citizens' Federal Credit Union Mortgage Rates, Fees & Info

FAIRHAVEN, MA

LEI: 54930088NZQ6CDL0WA10

Tax ID: 04-1120944

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

Review & Overview

First Citizens' Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. First Citizens' Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Barnstable Town, Providence, Boston, and Worcester among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Citizens' Federal 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.

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Originations

271

Origination Dollar Volume (All Markets)

$54,415,000

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
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	99	$19,605,000	$198,030	$0	0.00%
PROVIDENCE-WARWICK, RI-MA (FHA\|USDA\|VA)	107	$18,225,000	$170,327	$0	0.00%
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	60	$15,480,000	$258,000	$0	0.00%
WORCESTER, MA-CT (FHA\|USDA\|VA)	4	$870,000	$217,500	$0	0.00%
Outside of Metro Areas	1	$235,000	$235,000	$0	0.00%

First Citizens' Federal Credit Union's top markets include Barnstable Town, Providence, Boston, and Worcester among others.

Their top states include:

Massachusetts (FHA|USDA|VA)

Rhode Island (FHA|USDA|VA)

Maine (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	271	$54,415,000	$200,793	$0	0.00%

For 2018, First Citizens' Federal Credit Union's most frequently originated type of loan was Conventional, with 271 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	104	$14,400,000	$138,462	$0	0.00%
Home Purchase	95	$29,205,000	$307,421	$0	0.00%
Home Improvement	38	$2,080,000	$54,737	$0	0.00%
Refi	34	$8,730,000	$256,765	$0	0.00%

For 2018, First Citizens' Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 104 originations. The 2nd most popular reason was Home Purchase, with 95 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	271	$54,415,000	$200,793	$0	0.00%

For 2018, First Citizens' Federal Credit Union's most frequently cited loan duration was Other, with 271 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	89	$3,835,000	$43,090	$0	0.00%
$200k-400k	87	$23,755,000	$273,046	$0	0.00%
$100k-200k	71	$10,965,000	$154,437	$0	0.00%
$400k-600k	19	$9,235,000	$486,053	$0	0.00%
$600k-1MM	3	$2,475,000	$825,000	$0	0.00%
$1MM+	2	$4,150,000	$2,075,000	$0	0.00%

2018 saw First Citizens' Federal Credit Union place emphasis on $100,000 or less loans with 89 originations, totaling $3,835,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	77	$13,125,000	$170,455	$0	0.00%
$100k-150k	56	$12,740,000	$227,500	$0	0.00%
$75k-100k	54	$8,030,000	$148,704	$0	0.00%
$50k or less	40	$4,410,000	$110,250	$0	0.00%
$150k-250k	26	$5,830,000	$224,231	$0	0.00%
$250k+	9	$3,455,000	$383,889	$0	0.00%

First Citizens' Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 77 originations. The second most popular income band? $100k-150k, with 56 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	271	$54,415,000	$200,793	$0	0.00%

First Citizens' Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 271 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	239	$43,335,000	$181,318	$0	0.00%
Not applicable	8	$6,470,000	$808,750	$0	0.00%
Not provided	13	$3,045,000	$234,231	$0	0.00%
Black	7	$855,000	$122,143	$0	0.00%
American Indian	3	$525,000	$175,000	$0	0.00%
Other Asian	1	$185,000	$185,000	$0	0.00%

Approval Rates

Total approvals of all applications
86.54%

First Citizens' Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
88.19%

First Citizens' Federal Credit Union has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	271	$54,415,000	$200,793

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$1,790,000	$447,500
Single Family (1-4 Units):Site-Built	267	$52,625,000	$197,097

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
First Technology Federal Credit Union	Other type of mortgage	Trouble during payment process	1	50.0%
First Technology Federal Credit Union	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	50.0%