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 Refi loans. Members Advantage Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Lebanon, Barre, and Burlington among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Members Advantage Community 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. They typically have relatively high 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% | 5/4/24 |
| 30 Year Conventional Refi | 6.83% | 5/4/24 |
| 30 Year Cash-out Refi | 7.44% | 5/4/24 |
| 15 Year Conventional Purchase | 5.58% | 5/4/24 |
| 15 Year Conventional Refi | 6.89% | 5/4/24 |
| 15 Year Cash-out Refi | 6.89% | 5/4/24 |
| 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
60Origination Dollar Volume (All Markets)
$5,190,000Top 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 |
|---|---|---|---|---|---|
| Lebanon, NH-VT (FHA|USDA|VA) | 35 | $3,225,000 | $92,143 | $0 | 5.50% |
| Barre, VT (FHA|USDA|VA) | 10 | $1,240,000 | $124,000 | $0 | 5.40% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 12 | $570,000 | $47,500 | $0 | 4.62% |
| Outside of Metro Areas | 3 | $155,000 | $51,667 | $0 | 6.16% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 60 | $5,190,000 | $86,500 | $0 | 5.34% |
For 2019, Members Advantage Community Credit Union's most frequently originated type of loan was Conventional, with 60 originations.
Loan Reason
For 2019, Members Advantage Community Credit Union's most frequently cited loan purpose was Refi, with 27 originations. The 2nd most popular reason was Home Improvement, with 11 originations.
Loan Duration/Length
For 2019, Members Advantage Community Credit Union's most frequently cited loan duration was Other, with 29 originations. The 2nd most popular length was 15 Year, with 15 originations.
Interest Rates
During 2019, Members Advantage Community Credit Union's average interest rate for loans was 5.69%, while their most frequently originated rate bucket for loans was 5-6%, with 25 originations.
Loan Sizing
2019 saw Members Advantage Community Credit Union place emphasis on $100,000 or less loans with 43 originations, totaling $2,275,000 in origination value.
Applicant Income
Members Advantage Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $50k or less, with 16 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 60 | $5,190,000 | $86,500 | $0 | 5.34% |
Approval Rates
Total approvals of all applications88.16%
Members Advantage Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination88.33%
Members Advantage Community Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 60 | $5,190,000 | $86,500 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $135,000 | $45,000 |
| Single Family (1-4 Units):Site-Built | 57 | $5,055,000 | $88,684 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER MORTGAGE SERVICES | FHA mortgage | Trouble during payment process | 1 | 100.0% |