Central One Federal Credit Union Mortgage Rates, Fees & Info
Shrewsbury, MALEI: 549300MUTFJQGRZJH019
Tax ID: 04-2158611
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Central One Federal Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Central One Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Barnstable Town, Portland, and Manchester among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)Central One Federal 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. Central One Federal 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 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.36% | 12/9/24 |
30 Year Conventional Refi | 6.30% | 12/9/24 |
30 Year Cash-out Refi | 6.46% | 12/9/24 |
15 Year Conventional Purchase | 5.31% | 12/9/24 |
15 Year Conventional Refi | 6.28% | 12/9/24 |
15 Year Cash-out Refi | 6.28% | 12/9/24 |
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. |
Central One Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Central One Federal 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
536Origination Dollar Volume (All Markets)
$110,160,000CENTRAL ONE FEDERAL CREDIT UNION - 2023
CENTRAL ONE FEDERAL CREDIT UNION is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
Work for CENTRAL ONE FEDERAL CREDIT UNION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Central One Federal Credit Union's average 30 year fixed mortgage rate was
7.12%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.64%.
Relative Fees (Closing Costs)
Central One Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,345.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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) | 421 | $77,855,000 | $184,929 | $3,182 | 7.27% |
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 64 | $18,730,000 | $292,656 | $4,884 | 7.22% |
BARNSTABLE TOWN, MA (FHA|USDA|VA) | 7 | $2,615,000 | $373,571 | $3,070 | 6.96% |
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 6 | $1,930,000 | $321,667 | $3,500 | 6.83% |
MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 3 | $1,445,000 | $481,667 | $2,573 | 7.00% |
Outside of Metro Areas | 5 | $1,065,000 | $213,000 | $2,477 | 6.92% |
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $2,749 | 7.56% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $6,972 | 4.99% |
SPRINGFIELD, MA (FHA|USDA|VA) | 6 | $660,000 | $110,000 | $2,986 | 6.91% |
Concord, NH (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $3,063 | 6.83% |
NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,496 | 5.87% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 6.75% |
ASHEVILLE, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 7.25% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,064 | 6.43% |
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,913 | 6.74% |
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $4,759 | 7.43% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,100 | 5.49% |
Laconia, NH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 6.25% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 9.00% |
Lebanon, NH-VT (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 8.00% |
OCALA, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 7.50% |
Keene, NH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.50% |
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.00% |
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against CENTRAL ONE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 24
Similarity Rank: 40
Similarity Rank: 75
Similarity Rank: 130
Similarity Rank: 160
Similarity Rank: 165
Similarity Rank: 177
Similarity Rank: 195
Similarity Rank: 266
Similarity Rank: 276
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
HELOC | 368 | $57,770,000 | $156,984 | n/a | 7.48% |
Conventional | 168 | $52,390,000 | $311,845 | $3,498 | 6.71% |
For 2023, Central One Federal Credit Union's most frequently originated type of loan was HELOC, with 368 originations. Their 2nd most popular type was Conventional, with 168 originations.
Loan Reason
For 2023, Central One Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 305 originations. The 2nd most popular reason was Other, with 101 originations.
Loan Duration/Length
For 2023, Central One Federal Credit Union's most frequently cited loan duration was 30 Year, with 423 originations. The 2nd most popular length was 15 Year, with 50 originations.
Origination Fees/Closing Costs
Central One Federal Credit Union's average total fees were $3,345, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 90 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
7-8% | 290 | $43,890,000 | $151,345 |
6-7% | 140 | $34,430,000 | $245,929 |
5-6% | 54 | $24,760,000 | $458,519 |
Over 8% | 50 | $5,980,000 | $119,600 |
4-5% | 2 | $1,100,000 | $550,000 |
During 2023, Central One Federal Credit Union's average interest rate for loans was 7.12%, while their most frequently originated rate bucket for loans was 7-8%, with 290 originations.
Loan Sizing
2023 saw Central One Federal Credit Union place emphasis on $100,000 or less loans with 185 originations, totaling $10,475,000 in origination value.
Applicant Income
Central One Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 161 originations. The second most popular income band? $100k-150k, with 135 originations.
Applicant Debt to Income Ratio
Central One Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 97 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.95%
Central One Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination73.88%
Central One Federal Credit Union has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 536 | $110,160,000 | $205,522 |