Members Advantage Community Credit Union Mortgage Rates, Fees & Info

BARRE, VT

LEI: 549300F0QYLUOR9SYB86

Tax ID: 03-6005430

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Members Advantage Community Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Members Advantage Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Lebanon, Keene, Burlington, and Barre among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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 a low 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% 11/23/24
    30 Year Conventional Refi 6.83% 11/23/24
    30 Year Cash-out Refi 7.44% 11/23/24
    15 Year Conventional Purchase 5.58% 11/23/24
    15 Year Conventional Refi 6.89% 11/23/24
    15 Year Cash-out Refi 6.89% 11/23/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Members Advantage Community Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    82

    Origination Dollar Volume (All Markets)

    $10,290,000

    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
    Outside of Metro Areas 30 $4,550,000 $151,667 $2,483 4.56%
    Lebanon, NH-VT (FHA|USDA|VA) 30 $3,200,000 $106,667 $0 5.18%
    Keene, NH (FHA|USDA|VA) 12 $1,760,000 $146,667 $2,667 4.75%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 5 $455,000 $91,000 $0 4.87%
    Barre, VT (FHA|USDA|VA) 5 $325,000 $65,000 $0 4.49%
    Members Advantage Community Credit Union's top markets include Lebanon, Keene, Burlington, and Barre among others.

    Their top states include:
  • Vermont (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 82 $10,290,000 $125,488 $2,544 4.83%

    For 2020, Members Advantage Community Credit Union's most frequently originated type of loan was Conventional, with 82 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $3,655,000 $135,370 $0 5.01%
    Cash Out Refi 27 $4,075,000 $150,926 $0 4.82%
    Refi 13 $1,865,000 $143,462 $2,544 3.65%
    Home Improvement 9 $465,000 $51,667 $0 5.35%
    Other 6 $230,000 $38,333 $0 5.83%

    For 2020, Members Advantage Community Credit Union's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 36 $6,420,000 $178,333 $2,667 4.55%
    Other 21 $1,635,000 $77,857 $0 4.68%
    15 Year 15 $1,365,000 $91,000 $2,483 4.82%
    20 Year 5 $735,000 $147,000 $0 4.90%
    10 Year 3 $105,000 $35,000 $0 8.25%
    5 Year 2 $30,000 $15,000 $0 6.24%

    For 2020, Members Advantage Community Credit Union's most frequently cited loan duration was 30 Year, with 36 originations. The 2nd most popular length was Other, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3 $535,000 $178,333

    Members Advantage Community Credit Union's average total fees were $2,667, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 35 $4,975,000 $142,143
    5-6% 18 $1,880,000 $104,444
    4-5% 14 $2,230,000 $159,286
    6-7% 7 $385,000 $55,000
    2.5-3% 3 $535,000 $178,333
    Over 8% 3 $55,000 $18,333
    7-8% 2 $230,000 $115,000

    During 2020, Members Advantage Community Credit Union's average interest rate for loans was 4.55%, while their most frequently originated rate bucket for loans was 3-4%, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 39 $2,305,000 $59,103 $0 5.33%
    $100k-200k 29 $4,265,000 $147,069 $2,616 4.52%
    $200k-400k 13 $3,275,000 $251,923 $2,401 4.06%
    $400k-600k 1 $445,000 $445,000 $0 4.00%

    2020 saw Members Advantage Community Credit Union place emphasis on $100,000 or less loans with 39 originations, totaling $2,305,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 24 $3,050,000 $127,083 $2,401 5.06%
    $50k or less 22 $2,160,000 $98,182 $0 4.82%
    $50k-75k 15 $1,615,000 $107,667 $2,566 5.34%
    $75k-100k 13 $1,965,000 $151,154 $2,667 4.29%
    $150k-250k 6 $1,170,000 $195,000 $0 4.33%
    $250k+ 2 $330,000 $165,000 $0 3.38%

    Members Advantage Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $50k or less, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 13 $1,485,000 $114,231 $2,401 5.63%
    50-60% 13 $2,035,000 $156,538 $0 5.37%
    30-36% 10 $800,000 $80,000 $0 4.34%
    <20% 9 $935,000 $103,889 $0 4.52%
    40% 5 $345,000 $69,000 $0 4.89%
    44% 4 $690,000 $172,500 $2,667 4.06%
    38% 4 $300,000 $75,000 $0 5.18%
    45% 3 $665,000 $221,667 $2,566 3.92%
    41% 3 $295,000 $98,333 $0 5.50%
    46% 2 $260,000 $130,000 $0 5.00%
    37% 2 $220,000 $110,000 $0 3.99%
    39% 2 $200,000 $100,000 $0 4.50%
    43% 2 $490,000 $245,000 $0 5.38%
    48% 2 $350,000 $175,000 $0 4.50%
    >60% 1 $205,000 $205,000 $0 4.00%
    36% 1 $85,000 $85,000 $0 4.99%
    42% 1 $265,000 $265,000 $0 3.13%
    49% 1 $195,000 $195,000 $0 4.50%

    Members Advantage Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 50-60%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 79 $9,875,000 $125,000 $2,534 4.89%
    Not provided 2 $210,000 $105,000 $2,566 3.38%
    Black 1 $205,000 $205,000 $0 3.25%

    Approval Rates

    Total approvals of all applications
    95.70%

    Members Advantage Community Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    93.90%

    Members Advantage Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 82 $10,290,000 $125,488

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $460,000 $76,667
    Single Family (1-4 Units):Site-Built 76 $9,830,000 $129,342

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $65,000 $65,000 $0 5.50%
    40-60% 5 $655,000 $131,000 $2,534 3.85%
    60-80% 17 $2,715,000 $159,706 $2,566 4.81%
    80-100% 19 $3,475,000 $182,895 $0 4.47%
    Over 100% 1 $115,000 $115,000 $0 5.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MEMBER MORTGAGE SERVICES FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%