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 Refi 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 Providence among others. We have data for 25 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.

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% 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

370

Origination Dollar Volume (All Markets)

$109,520,000

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) 278 $75,380,000 $271,151 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 36 $15,410,000 $428,056 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 12 $6,010,000 $500,833 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 5 $1,665,000 $333,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 5 $1,555,000 $311,000 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 6 $1,340,000 $223,333 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $875,000 $291,667 $0 0.00%
Outside of Metro Areas 3 $865,000 $288,333 $0 0.00%
Vineyard Haven, MA (FHA|USDA|VA) 1 $825,000 $825,000 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 3 $685,000 $228,333 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $630,000 $315,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 3 $565,000 $188,333 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
Concord, NH (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Keene, NH (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Central One Federal Credit Union's top markets include Worcester, Boston, Barnstable Town, Portland, and Providence among others.

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

    LUSO-AMERICAN CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 370 $109,520,000 $296,000 $0 0.00%

    For 2021, Central One Federal Credit Union's most frequently originated type of loan was Conventional, with 370 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 103 $35,945,000 $348,981 $0 0.00%
    Refi 93 $31,265,000 $336,183 $0 0.00%
    Home Improvement 78 $15,660,000 $200,769 $0 0.00%
    Cash Out Refi 76 $21,800,000 $286,842 $0 0.00%
    Other 20 $4,850,000 $242,500 $0 0.00%

    For 2021, Central One Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 103 originations. The 2nd most popular reason was Refi, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 370 $109,520,000 $296,000 $0 0.00%

    For 2021, Central One Federal Credit Union's most frequently cited loan duration was Other, with 370 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 191 $52,975,000 $277,356 $0 0.00%
    $100k-200k 93 $14,895,000 $160,161 $0 0.00%
    $400k-600k 42 $19,530,000 $465,000 $0 0.00%
    $100,000 or less 25 $1,265,000 $50,600 $0 0.00%
    $600k-1MM 12 $8,030,000 $669,167 $0 0.00%
    $1MM+ 7 $12,825,000 $1,832,143 $0 0.00%

    2021 saw Central One Federal Credit Union place emphasis on $200k-400k loans with 191 originations, totaling $52,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 97 $29,485,000 $303,969 $0 0.00%
    $100k-150k 85 $21,745,000 $255,824 $0 0.00%
    $75k-100k 58 $14,580,000 $251,379 $0 0.00%
    $250k+ 50 $19,150,000 $383,000 $0 0.00%
    $50k-75k 49 $10,355,000 $211,327 $0 0.00%
    $50k or less 16 $2,230,000 $139,375 $0 0.00%

    Central One Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 97 originations. The second most popular income band? $100k-150k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 370 $109,520,000 $296,000 $0 0.00%

    Central One Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 370 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 286 $80,900,000 $282,867 $0 0.00%
    Not applicable 11 $10,735,000 $975,909 $0 0.00%
    Not provided 41 $9,765,000 $238,171 $0 0.00%
    Asian 15 $3,885,000 $259,000 $0 0.00%
    Black 9 $2,115,000 $235,000 $0 0.00%
    American Indian 3 $805,000 $268,333 $0 0.00%
    Korean 1 $625,000 $625,000 $0 0.00%
    Asian Indian 2 $330,000 $165,000 $0 0.00%
    Chinese 1 $205,000 $205,000 $0 0.00%
    Other Asian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.48%

    Central One Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.62%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 370 $109,520,000 $296,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    370 $109,520,000 $296,000

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%