Marine Federal Credit Union Mortgage Rates, Fees & Info
Jacksonville, NCLEI: 549300OP5DX4ZL2E2S84
Tax ID: 56-0706163
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Marine Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Marine Federal Credit Union has a high proportion of conventional loans. Marine Federal Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Jacksonville, New Bern, Wilmington, Charlotte, and Washington among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Marine 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.
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Originations
67Origination Dollar Volume (All Markets)
$16,505,000Top 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 |
|---|---|---|---|---|---|
| JACKSONVILLE, NC (FHA|USDA|VA) | 37 | $6,695,000 | $180,946 | $0 | 7.11% |
| NEW BERN, NC (FHA|USDA|VA) | 7 | $2,135,000 | $305,000 | $0 | 6.71% |
| WILMINGTON, NC (FHA|USDA|VA) | 5 | $2,105,000 | $421,000 | $0 | 6.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $640,000 | $320,000 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $11,370,000 | $247,174 | $0 | 0.00% |
| Conventional | 17 | $3,785,000 | $222,647 | $0 | 7.02% |
| VA | 4 | $1,350,000 | $337,500 | $0 | 0.00% |
For 2024, Marine Federal Credit Union's most frequently originated type of loan was Conventional, with 46 originations. Their 2nd most popular type was Conventional, with 17 originations.
Loan Reason
For 2024, Marine Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 51 | $12,755,000 | $250,098 | $0 | 7.00% |
| 5 Year | 13 | $3,295,000 | $253,462 | $0 | 7.09% |
| 1 Year | 3 | $455,000 | $151,667 | $0 | 6.72% |
For 2024, Marine Federal Credit Union's most frequently cited loan duration was Other, with 51 originations. The 2nd most popular length was 5 Year, with 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 9 | $2,915,000 | $323,889 |
| 7-8% | 8 | $870,000 | $108,750 |
During 2024, Marine Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 9 originations.
Loan Sizing
2024 saw Marine Federal Credit Union place emphasis on $200k-400k loans with 31 originations, totaling $8,835,000 in origination value.
Applicant Income
Marine Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $12,720,000 | $254,400 | $0 | 0.00% |
Marine Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.45%
Marine Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination82.09%
Marine Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $12,720,000 | $254,400 |
| NA | 17 | $3,785,000 | $222,647 |