Members Advantage Community Credit Union Mortgage Rates, Fees & Info
BARRE, VTLEI: 549300F0QYLUOR9SYB86
Tax ID: 03-6005430
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Mortgage Data
Review & Overview
Members Advantage Community Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. Members Advantage Community Credit Union has a high proportion of conventional loans. Their top two markets are Lebanon and Burlington .Members Advantage Community Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Members Advantage Community Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.55% | 11/21/24 |
| 30 Year Conventional Refi | 6.83% | 11/21/24 |
| 30 Year Cash-out Refi | 7.44% | 11/21/24 |
| 15 Year Conventional Purchase | 5.58% | 11/21/24 |
| 15 Year Conventional Refi | 6.89% | 11/21/24 |
| 15 Year Cash-out Refi | 6.89% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Members Advantage Community Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
61Origination Dollar Volume (All Markets)
$3,715,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 59 | $3,275,000 | $55,508 | $0 | 5.55% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,742 | 5.50% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 4.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $3,715,000 | $60,902 | $4,742 | 5.54% |
For 2018, Members Advantage Community Credit Union's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
For 2018, Members Advantage Community Credit Union's most frequently cited loan purpose was Home Improvement, with 26 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 59 | $3,275,000 | $55,508 | $0 | 5.55% |
| 30 Year | 2 | $440,000 | $220,000 | $4,742 | 5.13% |
For 2018, Members Advantage Community Credit Union's most frequently cited loan duration was Other, with 59 originations. The 2nd most popular length was 30 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $245,000 | $245,000 |
Members Advantage Community Credit Union's average total fees were $4,742, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
During 2018, Members Advantage Community Credit Union's average interest rate for loans was 5.13%, while their most frequently originated rate bucket for loans was 4-5%, with 25 originations.
Loan Sizing
2018 saw Members Advantage Community Credit Union place emphasis on $100,000 or less loans with 51 originations, totaling $2,285,000 in origination value.
Applicant Income
Members Advantage Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $50k or less, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 1 | $245,000 | $245,000 | $4,742 | 5.50% |
| 50-60% | 1 | $195,000 | $195,000 | $0 | 4.75% |
Members Advantage Community Credit Union lent most frequently to those with DTI ratios of 30-36%, with 1 originations. The next most common DTI ratio? 50-60%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 60 | $3,640,000 | $60,667 | $4,742 | 5.55% |
| Asian Indian | 1 | $75,000 | $75,000 | $0 | 4.99% |
Approval Rates
Total approvals of all applications94.20%
Members Advantage Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination95.08%
Members Advantage Community Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 61 | $3,715,000 | $60,902 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 8 | $390,000 | $48,750 |
| Single Family (1-4 Units):Site-Built | 53 | $3,325,000 | $62,736 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 2 | $440,000 | $220,000 | $4,742 | 5.13% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |