Central One Federal Credit Union Mortgage Rates, Fees & Info

Shrewsbury, MA

LEI: 549300MUTFJQGRZJH019

Tax ID: 04-2158611

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
  • Similar Lenders
  • 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

    Central One Federal Credit Union is a smaller credit union specializing in Home Improvement loans. Central One Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Barnstable Town, Providence, and New York among others. We have data for 31 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 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.

    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% 12/16/24
    30 Year Conventional Refi 6.30% 12/16/24
    30 Year Cash-out Refi 6.46% 12/16/24
    15 Year Conventional Purchase 5.31% 12/16/24
    15 Year Conventional Refi 6.28% 12/16/24
    15 Year Cash-out Refi 6.28% 12/16/24
    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

    734

    Origination Dollar Volume (All Markets)

    $140,190,000
    Show all (5) awards

    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) 579 $98,955,000 $170,907 $3,709 4.22%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 82 $24,960,000 $304,390 $3,811 4.32%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 11 $3,345,000 $304,091 $3,715 3.48%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 12 $2,230,000 $185,833 $2,341 4.01%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $2,065,000 $688,333 $5,315 4.29%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 7 $1,275,000 $182,143 $3,101 3.46%
    Lebanon, NH-VT (FHA|USDA|VA) 4 $980,000 $245,000 $2,907 4.25%
    SPRINGFIELD, MA (FHA|USDA|VA) 5 $945,000 $189,000 $4,960 4.12%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $705,000 $705,000 $0 3.25%
    Outside of Metro Areas 4 $580,000 $145,000 $0 5.06%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $490,000 $245,000 $3,767 3.63%
    Keene, NH (FHA|USDA|VA) 2 $430,000 $215,000 $4,670 3.38%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $405,000 $405,000 $0 3.75%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $355,000 $355,000 $4,258 4.50%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $1,249 5.37%
    NEW BERN, NC (FHA|USDA|VA) 1 $265,000 $265,000 $2,690 3.75%
    COLUMBIA, SC (FHA|USDA|VA) 2 $220,000 $110,000 $3,806 4.62%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $210,000 $105,000 $6,739 3.88%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $205,000 $205,000 $2,889 4.99%
    Berlin, NH (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.50%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $205,000 $205,000 $2,722 5.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.50%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.25%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $110,000 $55,000 $0 5.31%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.25%
    Concord, NH (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.25%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.25%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.75%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.00%
    Central One Federal Credit Union's top markets include Worcester, Boston, Barnstable Town, Providence, and New York among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (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: 42
    QUINCY CREDIT UNION
    Similarity Rank: 50
    HOMEFIELD
    Similarity Rank: 72
    Direct Federal Credit Union
    Similarity Rank: 115
    IC Federal Credit Union
    Similarity Rank: 144
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    ALIGN CREDIT UNION
    Similarity Rank: 200
    Piscataqua Savings Bank
    Similarity Rank: 200
    ATHOL CREDIT UNION
    Similarity Rank: 264
    Middlesex Savings Bank
    Similarity Rank: 315

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 517 $85,835,000 $166,025 n/a 4.12%
    Conventional 217 $54,355,000 $250,484 $3,742 4.45%

    For 2022, Central One Federal Credit Union's most frequently originated type of loan was HELOC, with 517 originations. Their 2nd most popular type was Conventional, with 217 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 400 $58,670,000 $146,675 $3,243 4.14%
    Other 142 $19,940,000 $140,423 $0 4.55%
    Refi 87 $26,585,000 $305,575 $1,992 3.69%
    Home Purchase 77 $27,685,000 $359,545 $4,538 4.61%
    Cash Out Refi 28 $7,310,000 $261,071 $2,511 4.06%

    For 2022, Central One Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 400 originations. The 2nd most popular reason was Other, with 142 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 565 $103,415,000 $183,035 $3,074 4.03%
    15 Year 70 $20,770,000 $296,714 $3,314 5.02%
    10 Year 37 $2,505,000 $67,703 $1,480 4.86%
    20 Year 20 $3,140,000 $157,000 $4,755 5.14%
    Other 15 $3,195,000 $213,000 $2,448 3.53%
    5 Year 13 $2,425,000 $186,538 $0 4.53%
    30+ year 13 $4,695,000 $361,154 $8,978 5.02%
    3 Year 1 $45,000 $45,000 $0 3.88%

    For 2022, Central One Federal Credit Union's most frequently cited loan duration was 30 Year, with 565 originations. The 2nd most popular length was 15 Year, with 70 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 82 $25,310,000 $308,659
    $1k-2k 10 $2,740,000 $274,000
    $2k-3k 8 $2,560,000 $320,000
    $3k-4k 3 $865,000 $288,333
    $4k-5k 3 $945,000 $315,000
    $5k+ 3 $1,205,000 $401,667

    Central One Federal Credit Union's average total fees were $3,074, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 82 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 385 $69,285,000 $179,961
    4-5% 171 $34,165,000 $199,795
    5-6% 103 $21,435,000 $208,107
    6-7% 33 $4,835,000 $146,515
    2.5-3% 25 $8,265,000 $330,600
    7-8% 12 $2,010,000 $167,500
    Over 8% 5 $195,000 $39,000

    During 2022, Central One Federal Credit Union's average interest rate for loans was 4.03%, while their most frequently originated rate bucket for loans was 3-4%, with 385 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 263 $14,185,000 $53,935 $1,490 4.28%
    $100k-200k 206 $28,940,000 $140,485 $2,489 4.20%
    $200k-400k 193 $52,995,000 $274,585 $3,589 4.15%
    $400k-600k 47 $21,865,000 $465,213 $5,167 4.33%
    $600k-1MM 19 $13,225,000 $696,053 $6,917 3.79%
    $1MM+ 6 $8,980,000 $1,496,667 $4,606 4.12%

    2022 saw Central One Federal Credit Union place emphasis on $100,000 or less loans with 263 originations, totaling $14,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 192 $40,420,000 $210,521 $4,780 4.07%
    $100k-150k 178 $26,960,000 $151,461 $3,092 4.32%
    $75k-100k 113 $18,275,000 $161,726 $3,867 4.09%
    $250k+ 112 $27,570,000 $246,161 $3,534 4.36%
    $50k-75k 84 $9,340,000 $111,190 $3,378 4.31%
    $50k or less 33 $3,505,000 $106,212 $1,892 3.98%

    Central One Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 192 originations. The second most popular income band? $100k-150k, with 178 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 194 $33,500,000 $172,680 $3,826 4.18%
    30-36% 127 $24,785,000 $195,157 $4,252 4.18%
    <20% 106 $17,400,000 $164,151 $2,486 3.97%
    50-60% 36 $4,120,000 $114,444 $2,248 4.77%
    45% 30 $5,110,000 $170,333 $2,982 4.69%
    42% 22 $4,380,000 $199,091 $2,605 4.09%
    41% 22 $4,610,000 $209,545 $4,137 4.19%
    36% 20 $3,570,000 $178,500 $7,118 3.95%
    38% 19 $3,405,000 $179,211 $3,726 3.90%
    44% 19 $3,585,000 $188,684 $3,612 4.13%
    40% 18 $3,450,000 $191,667 $3,586 4.42%
    43% 18 $3,520,000 $195,556 $3,851 4.28%
    37% 16 $2,700,000 $168,750 $2,331 4.02%
    46% 12 $3,280,000 $273,333 $2,686 4.80%
    48% 12 $1,720,000 $143,333 $3,161 4.09%
    49% 12 $2,150,000 $179,167 $2,127 4.12%
    39% 11 $2,615,000 $237,727 $4,965 4.72%
    47% 11 $1,045,000 $95,000 $2,481 4.46%
    >60% 1 $285,000 $285,000 $2,276 3.25%

    Central One Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 194 originations. The next most common DTI ratio? 30-36%, with 127 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 559 $97,505,000 $174,428 $3,501 4.18%
    Not provided 95 $16,615,000 $174,895 $1,836 3.91%
    Not applicable 17 $11,055,000 $650,294 $0 4.88%
    Asian 37 $7,815,000 $211,216 $3,595 4.49%
    Black 12 $2,190,000 $182,500 $3,280 4.51%
    Other Asian 2 $1,780,000 $890,000 $13,922 5.06%
    Asian Indian 5 $1,735,000 $347,000 $7,054 5.07%
    American Indian 3 $505,000 $168,333 $0 6.33%
    Chinese 2 $420,000 $210,000 $0 8.00%
    Other Pacific Islander 1 $355,000 $355,000 $1,810 3.25%
    Filipino 1 $215,000 $215,000 $8,597 5.74%

    Approval Rates

    Total approvals of all applications
    89.83%

    Central One Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.62%

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

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 4 $400,000 $100,000
    NA 730 $139,790,000 $191,493

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    734 $140,190,000 $190,995

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 198 $34,100,000 $172,222 $1,829 4.23%
    40-60% 94 $25,380,000 $270,000 $2,587 3.90%
    60-80% 99 $35,665,000 $360,253 $3,381 4.23%
    80-100% 55 $21,435,000 $389,727 $5,348 4.59%
    Under 20% 254 $15,990,000 $62,953 $2,593 4.27%