Central One Federal Credit Union Mortgage Rates, Fees & Info

Shrewsbury, MA

LEI: 549300MUTFJQGRZJH019

Tax ID: 04-2158611

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Mortgage Data

Review & Overview

Central One Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Central One Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Keene, Barnstable Town, and Punta Gorda among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

Central One Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.36% 3/28/24
30 Year Conventional Refi 6.30% 3/28/24
30 Year Cash-out Refi 6.46% 3/28/24
15 Year Conventional Purchase 5.31% 3/28/24
15 Year Conventional Refi 6.28% 3/28/24
15 Year Cash-out Refi 6.28% 3/28/24
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

227

Origination Dollar Volume (All Markets)

$58,625,000

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
WORCESTER, MA-CT (FHA|USDA|VA) 169 $39,595,000 $234,290 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 28 $11,050,000 $394,643 $0 0.00%
Keene, NH (FHA|USDA|VA) 1 $1,875,000 $1,875,000 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $1,710,000 $285,000 $0 0.00%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $520,000 $260,000 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 2 $420,000 $210,000 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
Outside of Metro Areas 2 $360,000 $180,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $290,000 $145,000 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
SYRACUSE, NY (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Berlin, NH (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Central One Federal Credit Union's top markets include Worcester, Boston, Keene, Barnstable Town, and Punta Gorda among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • 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.

    Charter Oak Federal Credit Union
    Similarity Rank: 18
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 170
    Coastal Heritage Bank
    Similarity Rank: 180
    Middlesex Savings Bank
    Similarity Rank: 230
    Chelsea Groton Bank
    Similarity Rank: 304
    Methuen Cooperative Bank
    Similarity Rank: 330

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 227 $58,625,000 $258,260 $0 0.00%

    For 2018, Central One Federal Credit Union's most frequently originated type of loan was Conventional, with 227 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 110 $34,410,000 $312,818 $0 0.00%
    Cash Out Refi 70 $14,590,000 $208,429 $0 0.00%
    Refi 37 $8,045,000 $217,432 $0 0.00%
    Other 10 $1,580,000 $158,000 $0 0.00%

    For 2018, Central One Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Cash Out Refi, with 70 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 227 $58,625,000 $258,260 $0 0.00%

    For 2018, Central One Federal Credit Union's most frequently cited loan duration was Other, with 227 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 99 $28,895,000 $291,869 $0 0.00%
    $100k-200k 79 $12,405,000 $157,025 $0 0.00%
    $100,000 or less 25 $1,535,000 $61,400 $0 0.00%
    $400k-600k 18 $9,170,000 $509,444 $0 0.00%
    $1MM+ 3 $4,685,000 $1,561,667 $0 0.00%
    $600k-1MM 3 $1,935,000 $645,000 $0 0.00%

    2018 saw Central One Federal Credit Union place emphasis on $200k-400k loans with 99 originations, totaling $28,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 59 $15,285,000 $259,068 $0 0.00%
    $150k-250k 58 $17,590,000 $303,276 $0 0.00%
    $75k-100k 37 $6,965,000 $188,243 $0 0.00%
    $50k-75k 33 $5,655,000 $171,364 $0 0.00%
    $250k+ 17 $6,595,000 $387,941 $0 0.00%
    $50k or less 9 $1,015,000 $112,778 $0 0.00%

    Central One Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 59 originations. The second most popular income band? $150k-250k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 227 $58,625,000 $258,260 $0 0.00%

    Central One Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 227 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 169 $46,905,000 $277,544 $0 0.00%
    Not provided 35 $5,405,000 $154,429 $0 0.00%
    Not applicable 10 $3,580,000 $358,000 $0 0.00%
    Asian 6 $1,210,000 $201,667 $0 0.00%
    Asian Indian 3 $795,000 $265,000 $0 0.00%
    Black 3 $545,000 $181,667 $0 0.00%
    Native Hawaiian or Islander 1 $185,000 $185,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.50%

    Central One Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.25%

    Central One Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 227 $58,625,000 $258,260

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,445,000 $815,000
    Single Family (1-4 Units):Site-Built 224 $56,180,000 $250,804

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CENTRAL BANC MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%