Leominster Credit Union Mortgage Rates, Fees & Info

Leominster, MA

LEI: 5493008H38W2EPJ8ZQ43

Tax ID: 04-2348884

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

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Mortgage Data

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

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

    Leominster Credit Union has a below average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

    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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    Originations

    258

    Origination Dollar Volume (All Markets)

    $42,430,000

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 208 $34,960,000 $168,077 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 20 $4,910,000 $245,500 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 26 $1,420,000 $54,615 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $875,000 $291,667 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    Leominster Credit Union's top markets include Worcester, Boston, Springfield, Barnstable Town, and Providence among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against LEOMINSTER CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Charter Oak Federal Credit Union
    Similarity Rank: 18
    Middlesex Savings Bank
    Similarity Rank: 65
    UniBank for Savings
    Similarity Rank: 130
    Bristol County Savings Bank
    Similarity Rank: 144
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 170
    WEBSTER FIRST Federal Credit Union
    Similarity Rank: 182
    Milford Federal Bank
    Similarity Rank: 200
    Belmont Savings Bank
    Similarity Rank: 205
    St. Mary's Credit Union
    Similarity Rank: 245
    METRO
    Similarity Rank: 260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 258 $42,430,000 $164,457 $0 0.00%

    For 2018, Leominster Credit Union's most frequently originated type of loan was Conventional, with 258 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 128 $23,020,000 $179,844 $0 0.00%
    Cash Out Refi 61 $12,455,000 $204,180 $0 0.00%
    Refi 37 $4,595,000 $124,189 $0 0.00%
    Home Improvement 23 $2,055,000 $89,348 $0 0.00%
    Other 9 $305,000 $33,889 $0 0.00%

    For 2018, Leominster Credit Union's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 258 $42,430,000 $164,457 $0 0.00%

    For 2018, Leominster Credit Union's most frequently cited loan duration was Other, with 258 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 98 $4,740,000 $48,367 $0 0.00%
    $200k-400k 80 $21,510,000 $268,875 $0 0.00%
    $100k-200k 68 $10,400,000 $152,941 $0 0.00%
    $400k-600k 12 $5,780,000 $481,667 $0 0.00%

    2018 saw Leominster Credit Union place emphasis on $100,000 or less loans with 98 originations, totaling $4,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 70 $8,930,000 $127,571 $0 0.00%
    $75k-100k 53 $9,065,000 $171,038 $0 0.00%
    $50k or less 48 $3,660,000 $76,250 $0 0.00%
    $100k-150k 44 $8,820,000 $200,455 $0 0.00%
    $150k-250k 32 $8,590,000 $268,438 $0 0.00%
    $250k+ 3 $915,000 $305,000 $0 0.00%

    Leominster Credit Union lent most frequently to those with incomes in the $50k-75k range, with 70 originations. The second most popular income band? $75k-100k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 258 $42,430,000 $164,457 $0 0.00%

    Leominster Credit Union lent most frequently to those with DTI ratios of Exempt%, with 258 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 221 $36,635,000 $165,769 $0 0.00%
    Not provided 20 $2,160,000 $108,000 $0 0.00%
    Not applicable 4 $1,750,000 $437,500 $0 0.00%
    Black 7 $1,025,000 $146,429 $0 0.00%
    Asian 3 $445,000 $148,333 $0 0.00%
    Other Asian 2 $360,000 $180,000 $0 0.00%
    American Indian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    69.25%

    Leominster Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    90.31%

    Leominster Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 258 $42,430,000 $164,457

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,630,000 $407,500
    Single Family (1-4 Units):Manufactured 48 $2,790,000 $58,125
    Single Family (1-4 Units):Site-Built 206 $38,010,000 $184,515

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Lima One Capital, LLC Other type of mortgage Struggling to pay mortgage 2 100.0%