Leominster Credit Union Mortgage Rates, Fees & Info
Leominster, MALEI: 5493008H38W2EPJ8ZQ43
Tax ID: 04-2348884
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Leominster Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Leominster Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Springfield, and Barnstable Town among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Leominster 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
712Origination Dollar Volume (All Markets)
$100,050,000Top 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) | 603 | $81,295,000 | $134,818 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 82 | $16,380,000 | $199,756 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 26 | $2,140,000 | $82,308 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 712 | $100,050,000 | $140,520 | $0 | 0.00% |
For 2022, Leominster Credit Union's most frequently originated type of loan was Conventional, with 712 originations.
Loan Reason
For 2022, Leominster Credit Union's most frequently cited loan purpose was Home Improvement, with 230 originations. The 2nd most popular reason was Refi, with 195 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 712 | $100,050,000 | $140,520 | $0 | 0.00% |
For 2022, Leominster Credit Union's most frequently cited loan duration was Other, with 712 originations.
Loan Sizing
2022 saw Leominster Credit Union place emphasis on $100,000 or less loans with 313 originations, totaling $16,505,000 in origination value.
Applicant Income
Leominster Credit Union lent most frequently to those with incomes in the $100k-150k range, with 183 originations. The second most popular income band? $150k-250k, with 178 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 712 | $100,050,000 | $140,520 | $0 | 0.00% |
Leominster Credit Union lent most frequently to those with DTI ratios of Exempt%, with 712 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.17%
Leominster Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination85.67%
Leominster Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 712 | $100,050,000 | $140,520 |